Jenkins: $85/Ton 45Q Credit Makes Heavy Industry Carbon Capture Economically Viable
Jesse Jenkins · What the Inflation Reduction Act of 2022 would mean for climatetech · Aug 5, 2022 · at 42:47
Princeton energy systems modeler Jesse Jenkins discusses the impact of the Inflation Reduction Act's increased Section 45Q tax credit on industrial decarbonization.
0:00 / 0:26exact quote · 26.0s
720p mp4 · rendered on demand · StarZero watermark
“None of those really pencil out at 50 dollars a ton. They do, in many locations, at 85 dollars a ton. Not everywhere. Not every facility is laid out for this. Not every facility, you know, will this be the best option? Some will want to electrify or fuel switch or do other things. But in many locations across the country that are proximate to a good CO₂ storage basin or a pipeline, this will be an economic option to retrofit heavy industry with carbon capture.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Jesse Jenkins
Jenkins: Europe can viably eliminate 100% of Russian gas by winter 2022
“Europe's current plan is to cut natural gas use by about two thirds before this winter.
Can they actually go a hundred percent?
Can they cut if they needed to, or if they needed to make a credible threat on the global stage to Putin that we will cut our gas us…”
Jenkins: IRA Will Cut U.S. Emissions by One Gigaton in 2030
“So our top line finding from the repeat project analysis of the bill is that it will cut annual U.S. Greenhouse gas emissions in 2030 by an additional one, roughly one billion metric tons below the current policy baseline. So an additional billion tons of emis…”
Jenkins: The IRA will not materially boost near-term US EV sales
“The total volume of credit of a vehicle sold is not really going to be affected by whether or not they can claim this credit in the short term. So we just assumed the trajectory in our modeling follows Bloomberg's Bloomberg New Energy Finance's trajectory for …”
Jenkins: Gazprom kept its European gas storage assets exceptionally low pre-invasion
“Gazprom, the Russian gas company, owns a lot of storage assets for natural gas in Europe, and if you look at the storage volumes for Gazprom-owned storage assets in Europe, they were much lower than the average for other assets at the time, so it's almost as i…”
Jenkins: Europe can normalize energy conditions by 2025 with lower gas use
“And so that, you know, by 20, 25 or 20, 26, you know, in the sort of three to four year timeframe, it should be possible to get back to sort of typical European, you know, conditions, albeit with dramatically lower oil and gas consumption, particularly gas con…”
Jenkins: Displacing Russian gas with US LNG may not increase net emissions
“Even relying on US LNG to displace Russian pipeline gas may lead to a small net decrease in emissions because the greenhouse gas intensity of, Russian gas is so high that even LNG, which is worse normally than pipelines, because you consume energy to liquefy t…”