The USA plans to finance the decarbonization of steel and other industries

The USA plans to finance the decarbonization of steel and other industries shutterstock
Katerina Belousova

The industrial sector generates about a third of energy-related carbon emissions in the US

The US Department of Energy (DOE) plans to fund the development of decarbonization technologies for key industries, including steel industry, paper and wood products, chemicals, cement and concrete, food and beverage, and cross-industry technologies.

Conditions and possibilities financing for a period of two to three years will be announced in August,  reported Fastmarkets.

Program is part of the DOE's effort on decarbonizing the US industrial sector and transitioning the country to net zero carbon emissions.

The industrial sector currently generates about a third of energy-related carbon emissions in the US.

"Thus, the decarbonization of industry is a problem, given the wide range of energy consumption and the complexity of industrial processes," the material said.

Decarbonization will require the US to implement several strategies simultaneously. DOE identified four key ways of industrial decarbonization:

  • energy efficiency;
  • industrial electrification;
  • low-carbon fuel, raw materials and energy sources;
  • carbon capture, use and storage.

DOE's iron and steel strategy will focus on progress to decarbonize iron ore and steel operations from ore or scrap, and transition other existing auxiliary and thermal production processes to use clean fuels or electricity.

In the area of ​​paper and forest products, the main focus will be on new technologies for drying paper and wood, as well as on innovative technologies for the production of pulp and paper formation, the DOE said.

Funding in the area of ​​decarbonization technologies will focus on innovations in low-temperature technologies for processing waste heat into energy, thermal energy storage and industrial heat pumps.

Earlier EcoPolitic informed, there are three key points on the way to reducing carbon emissions in the steel industry.

As EcoPolitic previously reported, the USA enhances deep decarbonation economy with $3.5 billion worth of projects.

Related
A complete watering down of the EU ETS? The European Commission has presented updated rules for the carbon market
A complete watering down of the EU ETS? The European Commission has presented updated rules for the carbon market

The authorities want to oblige EU countries to allocate at least half of their carbon revenue to industry

Are businesses leaving it until the last minute? There are still no new applications in the IEP register
Are businesses leaving it until the last minute? There are still no new applications in the IEP register

At the same time, the structure of the register makes it difficult to easily trace the history of the consideration of the documents

Ten EU countries are calling for the industry to be allowed to emit CO₂ for a further decade
Ten EU countries are calling for the industry to be allowed to emit CO₂ for a further decade

At the same time, there are calls to review the ETS2, which is intended to require payment for emissions caused by heating and transport

The Verkhovna Rada has finally published the text of Bill No. 15386 on the establishment of the ETS
The Verkhovna Rada has finally published the text of Bill No. 15386 on the establishment of the ETS

The document has already been submitted to the environmental committee for consideration without any consultation with stakeholders