Download This PaperCreating Markets for Captured Carbon: Progress in Illinois
12 Pages Posted: 30 Mar 2021
Date Written: January 20, 2021
Abstract
In previous publications/presentations at GHGT-13, a plan was outlined for the capture and storage/utilization of CO2 within the state of Illinois. This plan has evolved significantly due to a number of technical, regulatory, and financial factors that have occurred at both the state and federal level. A combination of successful implementation of large-scale storage projects, significant investment in research and development by the US DOE, and the advent of 45Q tax credits has created a significant driver for growth in Illinois for carbon capture, utilization, and storage (CCUS) projects. This ability to either store or utilize the CO2 creates diverse financial opportunities for CO2 sources within the state, hence an ability to build new markets and drivers for large CO2 emitters within the state. A major cornerstone of this effort is to have a range of capture sites in the state that can accommodate the evaluation of capture technologies that are at various levels of maturity (i.e., technology readiness levels or TRLs). The net impact is an ability to assist Illinois in achieving its goals for grid decarbonization and clean energy job creation.
Keywords: Carbon Markets, Innovative Integration, Large Pilot, Storage, CO2 Utilization, Capture
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