Carbon Negative Shot Strategy
To accomplish the Unites States’ climate goals, including net zero emissions by 2050, the U.S. needs to remove gigatons of carbon dioxide from the atmosphere cost-effectively. Distinct from other clean energy technologies, carbon dioxide removal (CDR) does not have a natural market yet but serves as a public good. The Department of Energy’s (DOE) Carbon Negative Shot™ will meet these joint challenges using innovation, development, demonstration, and commercialization of high-quality CDR pathways. It will support market development by enhancing measurement, monitoring, reporting and verification approaches, building confidence for private markets that will supply the majority of early demand during the development phase to 2030.
DOE’s Carbon Negative Shot aims to accomplish the following 2030 objectives:
- Channel at least $1 billion in new R&D investment across each CDR pathway, in collaboration with private equity firms, corporations, and philanthropic organizations.
- Advance commercial deployments of at least 3 technologies and pilot demonstrations of at least 6 additional technologies per pathway across all relevant pathways.
- Create a registry and definition of standards for all CDR approaches for voluntary carbon market (VCM) credits and for national greenhouse gas (GHG) inventories.
- Support the creation of at least 25 million metric tons of CDR demand.
Develop analyses to predict the mixes of CDR pathways that can provide a portfolio of 1 billion tons of removals in 2050 at less than $100 net per metric ton cost within appropriate environmental and social constraints.