On August 11, 2023, the Department of Energy (DOE) announced its intent to distribute roughly $12 billion in new funding over five years for “Responsible Carbon Management” projects. In a refreshing twist from its usual announcements, the DOE intends to first put forward a set of standards that embody responsible carbon management before dispersal of funds.
This recent development is part of the DOE’s endeavor to spread more than $60 billion in Bipartisan Infrastructure Law funding for clean energy initiatives. This announcement stands out from the myriad other DOE pronouncements because of its unique focus on first defining a structure for responsible carbon management.
The key difference in this notification is the DOE’s intention to not just fund projects, but also stimulate the establishment of a strategic framework that reflects the principles of responsible carbon management. This could potentially mark a novel approach in the allocation of funds in the clean energy sector.
For more information on the Department of Energy’s initiative and the Notice of Intent, the original announcement can be found
here.