The Internal Revenue Service recently released guidance on carbon capture tax credits that were made possible by a bipartisan budget deal in 2018.
“Carbon capture advocates see it as a Goldilocks solution for mitigating climate risks,” says Brian Murray, director of the Duke University Energy Initiative. “This approach incentivizes reducing carbon emissions, while enabling fossil fuel combustion to continue, which appeals to many industry players.”
“While congressional action was swift in 2018, the wait for rulemaking has made many antsy. The new guidance from the IRS provides clarity on some technical issues, but most investors will need more certainty before they put down serious money on this technology.”
Brian Murray is director of the Duke University Energy Initiative and a research professor at Duke’s Nicholas School of the Environment. He can discuss the use of economic incentive mechanisms to address energy and environmental challenges, including carbon markets and the economics of climate change policy.
For additional comment, contact Brian Murray at:
(314) 630-1276; email@example.com