Full Title: Carbon Removal: Comparing Historical Federal Research Investments with the National Academies’ Recommended Future Funding Levels
Author(s): Joseph S. Hezir, Tim Bushman, Dr. Addison K. Stark, Erin Smith
Publisher(s): Bipartisan Policy Center and the Energy Futures Initiative
Publication Date: April 1, 2019
Full Text: Download Resource
Description (excerpt):
Carbon removal encompasses a suite of land-based and technological approaches to removing already-emitted carbon dioxide (CO2) from the environment. Carbon removal (CDR) approaches—also referred to as “negative emission technologies” — complement mitigation efforts to protect the environment while opening new opportunities for U.S. businesses in a growing global marketplace as many countries move toward a lower-carbon economy. Several companies around the world have built demonstration facilities for direct air capture, a type of technological carbon removal that involves using machines to remove CO2 directly from the atmosphere, so it can then be sequestered or converted into commercial products, such as fuels, cement, plastic, and chemicals. In February 2018, Congress expanded tax credits (45Q) for carbon capture projects that broadened eligibility to include direct air capture and is actively examining additional legislative opportunities to complement 45Q and facilitate carbon removal technology advancement.