The Inflation Reduction Act of 2022 (IRA) could more than double the amount of carbon dioxide (CO2) emissions that can economically be abated via carbon capture, storage and utilization (CCUS), according to modeling by Enverus.

carbon capture graph

Natural gas-fired power plants, oil refineries and upgraders, as well as cement production, are among the emitting sources that would see the biggest improvement in economic viability of CCUS, said Enverus’ Sarp Ozkan, commercial product vice president, and Ryan Luther, senior vice president for intelligence. The analysts hosted a webinar detailing how President Biden’s landmark climate legislation stands to accelerate the energy transition.

The IRA expands and extends the Internal Revenue Service Section 45Q tax credit for carbon capture. The credit...