Tue, Jul 7, 2020

IRS delay threatens carbon capture projects

Petra Nova carbon capture project at the WA Parish power plant in Fort Bend County. Petra Nova carbon capture project at the WA Parish power plant in Fort Bend County. Photo: Marie D. De Jesus, Staff / Houston Chronicle
Petra Nova carbon capture project at the WA Parish power plant in Fort Bend County. Petra Nova carbon capture project at the WA Parish power plant in Fort Bend County. Photo: Marie D. De Jesus, Staff / Houston Chronicle
Laws and Regs  | 
Houston Chronicle

WASHINGTON - Almost two years after Congress passed a law more than doubling tax credits for power and industrial plants that build systems to prevent carbon dioxide emissions, efforts to begin construction are on hold.

Companies have announced plans to build more than 20 so-called carbon capture facilities, but all are waiting for the Internal Revenue Service to issue guidance on the specifics of how the tax credit can be claimed.

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