The U.S. government may soon require natural gas-fired power plants to install technology to capture carbon emissions, sources said, as President Joe Biden's administration enacts new rules to help decarbonize the power sector in 12 years.
The Environmental Protection Agency as soon as this week is expected to unveil standards for new and existing power plants, which belch roughly a quarter of U.S. greenhouse gas emissions, two sources said. The rules will replace former President Donald Trump's American Clean Energy rule and former President Barack Obama's Clean Power Plan, both of which were invalidated by courts.
"These standards could level the playing field between new gas plants and new renewable energy," said Thomas Schuster, head of the Sierra Club's Pennsylvania chapter. Most new gas plants currently do not pay for emitting carbon, so the rules could make it harder for them to compete with solar and wind power.
Second, the Inflation Reduction Act created tax credits making carbon capture and hydrogen more affordable and affirmed EPA's authority to regulate power plants. The law offers more than $100 billion in clean electricity tax incentives, including a 70% increase in credits for each ton of carbon captured and sequestered.
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