Your browser doesn't support JavaScript or you have disabled JavaScript.

IRS Clarifies Carbon Capture Tax Credit, But More Policies Needed to Drive Deployment, Analysts Say – Utility Dive

The Internal Revenue Service proposed new rules on Thursday providing guidance on monitoring practices, safety and transfering of credits regarding the 45Q tax credit, encouraging technology that removes carbon dioxide from the atmosphere. Many groups welcomed the proposed regulation explaining how to implement the incentive: $50/metric ton and $35/metric ton for carbon dioxide stored permanently underground and utilized to extract more oil, respectively.

Click through to continue reading…