Energy Independence Investment Act of 2015

Energy Independence Investment Act of 2015

This bill requires the Department of Energy (DOE) to study and report on the effectiveness of the advanced fossil loan guarantee incentive program and other DOE incentive programs for advanced fossil energy. In carrying out the study, DOE must:

• solicit industry and stakeholder input;
• evaluate the effectiveness of the advanced fossil loan guarantee incentive program in advancing carbon capture and storage (CCS) technology;
• review each incentive provided by federal agencies for CCS demonstration projects to determine the adequacy and effectiveness of the combined federal incentives in advancing CCS and advanced fossil energy technologies;
• assess whether combinations of existing incentive programs could be effective to advance CCS and advanced fossil energy technologies; and
• evaluate the impact of implementing the recommendations described in the January 2015 National Coal Council report entitled, "Fossil Forward: Revitalizing CCS, Bringing Scale and Speed to CCS Deployment," on the effectiveness of the advanced fossil loan guarantee program.

[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 1306 Introduced in Senate (IS)]

114th CONGRESS
  1st Session
                                S. 1306

    To amend the Energy Policy Act of 2005 to use existing funding 
available to further projects that would improve energy efficiency and 
                           reduce emissions.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                              May 12, 2015

  Mr. Manchin (for himself and Ms. Heitkamp) introduced the following 
bill; which was read twice and referred to the Committee on Energy and 
                           Natural Resources

_______________________________________________________________________

                                 A BILL


 
    To amend the Energy Policy Act of 2005 to use existing funding 
available to further projects that would improve energy efficiency and 
                           reduce emissions.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Energy Independence Investment Act 
of 2015''.

SEC. 2. FINDINGS.

    Congress finds that--
            (1) in 2008, Congress authorized $8,000,000,000 in 
        authority to the Secretary of Energy to issue loan guarantees 
        for qualifying advanced fossil energy projects;
            (2) the Secretary of Energy has issued 2 requests for 
        proposals under the loan guarantee authority for which 
        applicants have applied for loan guarantees;
            (3) no loan guarantee has been issued to a fossil energy 
        project by the Secretary of Energy under a loan guarantee;
            (4) advanced fossil energy technologies could significantly 
        improve the efficiency of the conversion of coal to useful 
        energy;
            (5) the use of advanced fossil energy technologies could 
        result in dramatic reductions of greenhouse gases and other 
        emissions from coal use; and
            (6) a report issued by the National Coal Council in January 
        2015 concludes that--
                    (A) funding for carbon capture and storage projects 
                is a major challenge; and
                    (B) as of the date of enactment of this Act, each 
                large-scale carbon capture and storage project under 
                development has both public and private funding so as 
                to minimize the risk exposure of the project.

SEC. 3. PROGRAM STUDY.

    (a) In General.--Not later than 180 days after the date of 
enactment of this Act, the Secretary of Energy shall carry out, and 
submit to Congress a report describing the results of, a study on the 
effectiveness of the advanced fossil loan guarantee incentive program 
and other incentive programs for advanced fossil energy of the 
Department of Energy.
    (b) Contents.--In carrying out the study under subsection (1), the 
Secretary of Energy shall--
            (1) solicit industry and stakeholder input;
            (2) evaluate the effectiveness of the advanced fossil loan 
        guarantee incentive program, alone or in combination with other 
        incentives, in advancing carbon capture and storage technology;
            (3) review each Federal incentive provided by the 
        Department of Energy and other Federal agencies for carbon 
        capture and storage demonstration projects to determine the 
        adequacy and effectiveness of the combined Federal incentives 
        in advancing carbon capture and storage and advanced fossil 
        energy technologies;
            (4) assess whether combinations of the incentive programs 
        in existence as of the date of enactment of this Act could be 
        effective to advance carbon capture and storage and advanced 
        fossil energy technologies; and
            (5) evaluate the impact of implementing the recommendations 
        described in the January 2015 National Coal Council report 
        entitled ``Fossil Forward: Revitalizing CCS, Bringing Scale and 
        Speed to CCS Deployment'' on the effectiveness of the advanced 
        fossil loan guarantee program.
                                 <all>