Bioenergy with Carbon Capture and Storage (BECCS)
‘Bioenergy with Carbon Capture and Storage (BECCS)’ is a negative emission technology, which means that carbon dioxide is both removed from the atmosphere and then geologically stored. BECCS involves the use of biomaterials that naturally remove CO2 during their life cycle and then are burned to generate power in systems equipped with carbon capture and storage (CCS). An example of the application of BECCS technology is in the Drax plant in U.K. [Drax group is planning to add carbon capture facilities to its current biomass power plant in North Yorkshire, U.K. The plant would become one of the first bio energy with carbon capture and storage (BECCS) facilities in Europe].
45Q Tax Credit is a great opportunity for BECCS project developers to monetize the CO2 emissions produced during their processes. But to qualify for this tax credit, the CO2 emissions must be captured, and then that captured CO2 must either be stored underground in secure geologic formations or used for CO2 enhanced oil recovery (EOR) projects, or utilized in other projects that permanently sequester/store CO2.
The sesoned consultants of the A&A Consulting Team are available to help the BECCS project developers on ALL aspects of their BECCS related 45Q Tax Credit projects, to take full advantage of this tax credit opportunity, by providing state-of-the-art consulting services whenever requested.
To put the high-level and seasoned consultants, subject matter experts (SME), of A&A Consulting Team to work on your company's BECCS related 45Q Tax Credit projects, please contact us.
