Carbon capture storage technology too expensive, takes too long to build: report
The report said the Inflation Reduction Act south of the border ensures roughly two-thirds of carbon capture project costs are covered by the U.S. government.
By comparison, the BMO report said, the investor tax credit announced by the Canadian federal government in 2022 would cover less than 15 per cent of the proposed Pathways Alliance carbon capture project’s total costs by 2050. “We believe the U.S. policy advancement further underscores the need for substantially more robust policy incentives to bolster Canada’s competitive position in the decarbonization race,” the BMO report stated.
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