There is a growing global appetite for clean technologies and products with reduced emissions, which present market opportunities where American businesses can get ahead. In early 2018, Congress expanded the 45Q tax credit to accelerate investment in and deployment of carbon capture and storage projects and extended eligibility for carbon dioxide removal approaches, such as direct air capture and storage, to claim the credit.
As Congress examines additional legislative efforts to complement the tax credit, these explainers aim to describe carbon dioxide removal approaches, including direct air capture and storage, and their importance to the American energy portfolio. Carbon removal and direct air capture are distinct from conventional carbon capture in that they can remove CO2 that has already been emitted directly from the air, rather than reducing emissions from a power plant. Advancing carbon removal approaches such as direct air capture and storage can bridge diverse policy goals by protecting our environment while bolstering U.S. economic growth and leadership in science and technology.