US power companies are showing little interest in carbon capture and storage (CCS) because of high costs and uncertain demand, despite related tax credits being raised by the US Congress from $10 per tonne of carbon dioxide to $35/tonne. A survey of the US' 10 biggest power companies found eight had no plans to buy CCS equipment, while two declined to comment. REUTERS/Trish Badger But tax credits for capturing and storing carbon dioxide emissions have appeased all these camps, and Congress this year tripled the subsidy’s value with broad bipartisan support. The report also highlights a lack of understanding about how CCS technology works among regulators who have been tasked with assessing its potential benefits.
US power companies are showing little interest in carbon capture and storage (CCS) because of high costs and uncertain demand, despite related tax credits being raised by the US Congress from $10 per tonne of carbon dioxide to $35/tonne. A survey of the US' 10 biggest power companies found eight had no plans to buy CCS equipment, while two declined to comment. The report also highlights a lack of understanding about how CCS technology works among regulators who have been tasked with assessing its potential benefits.