Agency: Department of Energy – Clean Energy Demonstrations
Description:
Funding to establish four regional direct air capture hubs – networks of direct air capture projects, potential carbon dioxide utilization off-takers, connective carbon dioxide transport infrastructure, subsurface resources, and sequestration infrastructure located within a region.
Bill Section:
40308
New or Existing:
New
Potential Cost:
$3,500,000,000
Timeline:
FY22-26
Implementation Status/Rulemaking:
On August 11, 2023, DOE announced up to $1.2 billion to advance the development of two commercial-scale direct air capture facilities in Texas and Louisiana – Project Cypress and South Texas DAC Hub: Source
TCS Notes:
$700,000,000 annually for the period of fiscal years 2022 through 2026 (to remain available until expended)