Understanding the Inflation Reduction Act’s “once-in-a-generation” investment in infrastructure
Industrial emissions produce 30% of America’s CO2 emissions. That’s as much as all of the emissions from transportation combined. In 2022, the US government enacted the Inflation Reduction Act (IRA), which pledged to reduce national carbon emissions by 40% by 2030. Now, in 2023, the US Department of Energy is targeting industrial emissions with a monumental funding announcement that they’re calling a “once-in-a-generation investment in infrastructure.”
Through the IRA, the Industrial Demonstrations Program will allocate a staggering $5.8 billion toward commercializing technologies to decarbonize the industrial sector. Why? To reduce facility-level CO2 emissions by at least 50%, while also benefiting local communities and promoting commercialization of advanced decarbonization technologies. In the DOE’s own words, this is “an unprecedented opportunity [for the United States] to lead the world in the next industrial revolution.”
Check out Skyven’s latest webinar discussing the IRA funding announcement and how our cutting-edge technology, the Skyven Arcturus, meets the grant objectives.
What are key dates and requirements?
To apply for this funding opportunity, Skyven is building a multi-site portfolio of facilities to deploy the Skyven Arcturus, our cutting-edge line of steam-generating heat pumps. The first step is the concept paper, which is due mid-April.
- Concept paper: April 14, 2023*
- Full grant application: July 14, 2023*
Note that these dates are set by Skyven to give us time to complete and submit the application.
What can I do to start my partnership with Skyven?
The concept paper deadline is quickly approaching – don’t miss out on this once-in-a-generation opportunity! Schedule a call with us today to discuss how the Skyven Arcturus can help you to profitably decarbonize your facility.
How will IRA funding help me achieve my decarbonization goals?
To meet the funding objectives and decarbonize industrial facilities, Skyven is deploying the Skyven Arcturus, our cutting-edge line of steam-generating heat pumps. Skyven Arcturus sources low-temperature waste heat from cooling towers, upgrades the temperature and pressure of that heat, and uses it to produce boiler-quality steam for direct injection back into your plant’s steam header. Arcturus offsets the use of natural gas boilers in industrial facilities, which has the potential to completely eliminate on-site CO2 emissions from boilers. Additionally, Arcturus has approximately 3x efficiency compared to industry standard electric boilers, and is designed to operate entirely outside of a facility’s existing processes (which means no downtime during installation and maintenance).
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How will Skyven support me in this process?
Skyven is an Energy-as-Service provider that delivers clean process heat to industrial facilities at prices lower than natural gas. In order to do that, we implement the latest technologies, like the Skyven Arcturus, at your facility at our own cost, billing only for the clean process heat these systems deliver.
Skyven provides end-to-end support for project execution. Through grant application, construction, and beyond, we design, install, and maintain your project so that you can focus on projection quality, throughput, and safety for your facility.
The Skyven Process:
- Galileo: We use our first-of-its-kind software to determine if a Skyven Arcturus installation will help your facility meet its decarbonization goals.
- Engineering design: At our own cost, we carry out the engineering necessary to install Skyven Arcturus at your plant. You have full control over the engineering design, and we won’t move onto the next step until you approve the design.
- Project execution: We begin construction of the Skyven Arcturus on-site at your facility.
- Ongoing maintenance: After Arcturus installation is complete, we monitor and maintain your system for the life of our 10-year service contract.