Utah Carbon Capture Opportunities
Carbon capture has significant potential to reduce carbon dioxide (CO2) emissions in Utah through secure geologic storage. Seven facilities in Utah have been identified as likely economically feasible candidates for deployment of carbon capture technology, aided by the recently reformed and expanded federal 45Q tax credit. These seven facilities have the combined potential to capture more than ten million metric tons of CO2 annually. As for CO2 storage, the Energy and Geoscience Institute at the University of Utah, among others, is researching the capacity Utah holds. With both geological research and state-level policy initiatives on carbon capture use and storage, Utah is taking steps to adopt this clean energy technology on a larger scale and advance innovative technologies for carbon capture, use and storage.
Industrial Facilities that Qualify for the Tax Credit
The Regional Carbon Capture Deployment Initiative has identified industrial facilities in numerous states that could be early candidates for carbon capture retrofits. These facilities could qualify for the revamped federal 45Q tax credit for projects that capture carbon from industrial facilities and power plants for geologic storage and beneficial use. Facilities were selected based on emissions, equipment, and estimated capture cost. For more specifics on the 45Q tax credit, including eligibility, please go to the Great Plains Institute’s website.
Current State Policies in Utah
The table below illustrates the current policy landscape for carbon capture in Utah.
Economically Feasible Industries in Utah
The Regional Carbon Capture Deployment Initiative estimated theoretical capture costs based on published capture equipment costs, facility-specific operational patterns, existing equipment, and level of emissions. Based on that data, the graphic below displays several of Utah most likely economically feasible candidates for capture, along with estimated capturable emissions in million metric tons and estimated range of capture costs for facilities in each industry. This list is not meant to be definitive. Commercial decisions by participating companies and policy and regulatory decisions by state governments will ultimately determine if a project is feasible for carbon capture. “Captured Emissions” refers to the amount of carbon dioxide that can be expected to be captured at a facility considering relevant technological and economic constraints.
