The U.S. Department of Energy’s Office of Clean Energy Demonstrations (OCED) has announced its intent to fund $1.3 billion for carbon capture projects.
The DOE estimates that the U.S. will need to capture and store somewhere between 400 million and 1.8 billion tons of CO2 annually by 2050 in order to meet climate goals. Funding CCUS projects is a large part of reaching these targets.
In particular, carbon capture is a good solution for notoriously hard-to-decarbonize industries, including industrial sectors like cement and steel.
