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41 Energy L.J. 91 (2020)
Policies and Programs Available in the United States in Support of Carbon Capture and Utilization

handle is hein.journals/energy41 and id is 123 raw text is: POLICIES AND PROGRAMS AVAILABLE IN THE UNITED STATES IN SUPPORT OF CARBON CAPTURE AND UTILIZATION Edward Hirsch and Thomas Foust* Synopsis: The article seeks to compile policies and programs that provide revenue and financing support for carbon capture and utilizations projects, which are available in the United States. Often technically minded entrepreneurs and investors new to this space are unware of available support, which could help suc- cessful development of carbon capture and utilization projects. Covered in this article are the 45Q tax credit, green bonds, loan guarantee programs, the regional greenhouse gas initiative, and low carbon fuel standards.' This article covers the eligibility and effect of each policy and program. The article also briefly reviews the current state of technology and summarizes how each technology pathway pairs with the policies covered in the article. The goal of the article is to serve as a primer for lawyers, corporate development professionals, and practitioners, who seek to learn about policies and programs available to support carbon capture and utilization (CCU) projects. I. Introduction ............................................................................... . . 92 II. F ea sib ility .................................................................................... . . 9 4 A . C aptu re ............................................................................... . . 94 B . Process & Product ................................................................. 96 III. 4 5 Q ............................................................................................. . . 9 8 A . O verview .............................................................................. . 9 8 B . E lig ib ility ............................................................................ . . 9 8 C . Effect on B ottom Line............................................................. 100 IV . G reen B on d s ................................................................................... 102 A. Overview ................................................................................. 102 B. Eligibility ................................................................................ 103 C . Effect on B ottom Line............................................................. 106 1. Access to Capital............................................................... 107 2. Cost of Capital................................................................... 108 * Edward Hirsch is an energy professional, MBA graduate and professional engineer, with over eight years of direct experience in the energy industry. Edward graduated with a Chemical Engineering degree from P.C. Rossin College of Engineering, at Lehigh University and an MBA from the Kenan-Flagler School of Busi- ness, at the University of North Carolina. Dr. Thomas Foust is the Director of Bioenergy at the National Renew- able Energy Lab, with over twenty-eight years of National Lab and Department of Energy experience. Dr. Foust graduated with a B.S. in Mechanical Engineering from the Penn State University, a M.S. in Mechanical Engi- neering from Johns Hopkins University, and a Ph.D. in Mechanical Engineering from the University of Idaho. Edward would like to especially thank his mentor and advisor onthis project, Professor Carol Hee, for her support throughout the process of writing this article. He would also like to thank the Kenan-Flagler Energy Center and Professor Stephen Arbogast for facilitating the study. Finally, he would like to thank Joshua Schaidle, Ling Toa, Gary Grimm and Zhe Huang for their support and for helping guide him to the topic of the article. 1. These terms will be defined and discussed later in this article. 91

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