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Utilizing New Tax Credit Opportunities

New federal 45Q tax credits are available for companies that capture and store carbon emissions in geologic formations or use CO2 enhanced oil recovery (EOR) to extract oil from existing wells. These credits present a possible multimillion-dollar revenue stream for early adopters. Battelle can help you position your company to evaluate, construct and optimize your ability to leverage the 45Q tax incentives.

Here are the details: 

  • Capture and store carbon emissions in geologic formations to receive credit up to $50 per metric ton of CO2 by 2024
  • Use CO2 enhanced oil recovery (EOR) to extract oil from existing wells for up to $35 credit per metric ton of CO2 by 2024

Initial investments for site screening and assessment for CO2 EOR and CO2 storage potential are minimal when compared to the possible tax credit advantages.

 
  Contact Battelle today to discuss site-screening opportunities.
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