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ClearPath Action Rundown

October 25th, 2024

Happy Friday!

1. What’s on the Whiteboard: Geothermal technology explained

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Check out the video above

Geothermal is one of the most reliable zero-emissions energy sources. Private companies are looking at geothermal to meet our growing energy needs – powering data centers, U.S. manufacturing, and affordably keeping the lights on.

Fervo Energy is an enhanced geothermal company based in Houston, leveraging oil and gas technology to reach challenging geologies. Initial deployments have demonstrated cost declines, placing it on par with drilling costs for oil & gas.

Eavor uses closed-loop geothermal technology with a series of geothermal wells that circulate fluid to retrieve heat from the surrounding rock using conduction.

What’s clear: Today, geothermal accounts for less than one percent of the U.S. electric grid. However, the National Renewable Energy Lab predicts it could provide up to 60 gigawatts of power to the grid by 2050. Expediting environmental reviews and funding demonstration projects could lead to huge increases in geothermal capacity.

Plug in: To learn more about unlocking geothermal energy’s potential, check out our newest Whiteboard video

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with Senior Program Manager of Clean Energy and Permitting, Matt Mailloux.



2. Energy Dome moves closer to its first long-duration energy storage battery in U.S.

Energy Dome, a long-duration energy storage (LDES) developer based in Italy, signed

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its first commercial-scale supply contract with Wisconsin-based utility Alliant Energy for the Columbia Energy Storage Project, which:

Uses a compressed CO2 battery to store and deliver energy, a technology that is not dependent on critical minerals;

Will produce enough energy to power approximately 18,000 homes in the State for 10 hours on one charge;

Is the first LDES project of its kind to be developed in the U.S.; and

Has a projected construction completion of 2027.

What’s clear: LDES can provide reliable power over longer time horizons than conventional lithium-ion batteries. There are a wide array of innovative technologies that can provide these benefits, including thermal, mechanical, and electrochemical batteries.

3. 45X advanced manufacturing tax credit rules finalized

This week, the Treasury Department issued the final rule

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for the 45X Advanced Manufacturing Tax Credit.

The credit supports:

Domestic processing and manufacturing for critical minerals that can restore American supply chains to beat China.

Has positive revisions to allow taxpayers to include costs related to extracting domestic minerals as part of their operations.

What's next: While the final rule hews closely to congressional intent, there may be room to strengthen protections in 45X next Congress by adding new Foreign Entity of Concern (FEOC) restrictions.



4. Converting coal sites into low-carbon cement

The Department of Energy's (DOE) Office of Manufacturing and Energy Supply Chains (MESC) announced

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award selections for projects that accelerate low-carbon cement manufacturing in decommissioned coal facilities:

Terra CO2: ~$52M to establish a manufacturing facility in Magna, UT. Terra's process converts mine tailings into cement alternatives with 70% lower emissions.

Urban Mining Industries: ~$37M to develop manufacturing plants in Baltimore, MD and Indiantown, FL that will convert glass headed for the landfill into building materials with 94% emissions reduction.

Furno Materials: $20M to commercialize a novel technology that uses recycled industrial waste to produce cement with 47% lower emissions.

What’s clear: American companies are leading the development of innovative low-carbon cement, and federal support will continue to boost manufacturing and help revitalize former coal communities.

Plug in: Check out ClearPath’s report

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on performance-based specifications, which streamline regulations and increase the adoption of low-carbon cement.



5. ICYMI

ClearPath’s Savvy Bowman discussed all-of-the above energy approaches in UBS’ new video

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on the company’s climate technology report

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.

The DOE announced funding

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for 11 projects to develop and scale CO2 removal technologies, including a carbon-negative clean hydrogen project.

The Carbon Business Council released a report

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on how CDR can help utilities meet their net-zero goals.

DOE invests $58 Million to support CDR

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technologies through their Carbon Negative Earth Shots initiative.

The global race to commercialize advanced nuclear is heating up. Check out the latest updates on advanced reactor projects in Third Way’s latest piece

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on the technology.

The Carbon Removal Alliance published a report

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outlining policy recommendations to create a robust carbon removal market through monitoring, reporting and verification (MRV).

DOE released a funding opportunity

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to accelerate the research, development and demonstration of tech for the production, storage and use of clean hydrogen.

That's all from us. Thanks for reading and have a great weekend!

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