Bloomberg Environment quoted Hunter Johnston in an article titled "A Year After Tax Credit Win, Carbon Capture Backers Wait for IRS." The article, published April 10, discusses how the Internal Revenue Service (IRS) has yet to move forward with guidance to implement the so-called 45Q tax credits for carbon capture technology, extended and expanded by Congress in a bipartisan budget bill in February 2018. Carbon capture supporters say the IRS guidance is so important because it will establish a predictable environment for investors to make decisions in.
Johnston, who has worked closely on the carbon capture tax credits, says, "Uncertainty kills projects." Implementing guidance for tax incentives for wind and solar energy helped create confidence for investors and the basic structures of those markets. "It's all about building a tax equity market for 45Q. In order to move carbon capture projects, there needs to be a robust demand for the carbon capture tax credits," Johnston adds.
The full article can be read at Bloomberg Environment.