Direct support to large-scale CCUS hubs
Announced in March 2023, the UK government has promised £30 billion over the next 20 years to support projects that aim to store 20-30 million tonnes of carbon dioxide annually.
Carbon Capture and Storage Infrastructure Fund
£1bn to fund four clusters that can capture at least 10Mt/year by 2030, including two already announced. Includes detailed government-supported business models for transport and storage, industrial carbon capture, power, hydrogen, waste. The Scottish government will independently award up to £80 million for one CCUS cluster.
Grants for demonstration projects
The Carbon Capture Demonstration Programme and the DAC Hub program provide federal cost sharing for projects that advance the development, deployment and commercialisation of CCUS and DAC technologies.
Infrastructure Investment and Jobs Act
$12.1 billion in total, divided between demonstration projects, pilot projects, FEED studies, shared transport infrastructure, storage site development, permitting, grants to states and direct air capture.
Longship support scheme
To kickstart the commercialization of the world’s first CCUS hub, the Norwegian government is spending over €2 billion to cover around two-thirds of the cost of setting up the Northern Lights infrastructure and for two Norwegian capture projects. After that, funding will for operators will come from commercial fees and for emitters from EU funding […]
Projects of Common Interest
Accelerated permitting and Connecting Europe funding for key cross-border infrastructure projects, such as CCUS transport and storage infrastructure, connecting energy systems and aligned with the Paris Agreement.
European Innovation Fund
Risk-sharing support of up to 60% of additional capital and operation costs for large and small-scale flagship decarbonization projects, including a focus on construction of CCS infrastructure, carbon capture, and carbon utilization. Funds derived from ETS; disbursed between 2020-2030
Subsidies for CCS deployment
20-year contracts to be awarded through competitive tendering to industrial companies capturing and permanently storing at least 400,000 tonnes of CO2/year from 2026 (max. €55 million per year). Aid covers the difference between estimated total costs and expected returns. Total spend €2.4 billion, funded by green carbon tax. See sample contract.
Low-cost loans for emitters
The People’s Bank of China provides financial institutions with low-cost funds (interest rate of 1.7%) through a carbon emissions reduction facility, including carbon capture projects.
Alberta Government incentives
The Technology, Innovation and Emissions Reduction fund has created grants for specific CCUS projects and spawned an emissions reduction credit system, with offsets for capture and storage, sequestration credits and capture recognition tonnes.