Technologies in these areas face significant barriers to scale, and the private sector is seeking financial support to reduce risk and prove that these first-of-a-kind demonstrations can successfully scale. To help reduce these barriers, OCED helps mitigate risk to allow private sector investors and developers to act.
OCED key tenets for federally funded demonstration projects include:
- Create a pathway to technical and commercial risk reduction and make projects commercially viable by addressing technology challenges and driving down cost curves
- Target relevant operational environments, scales, and timeframes to validate the performance, cost, and value
- Enable downstream market adoption and deployment to accelerate scale-up
- Mitigate substantial risk and the known and unknown risks factors that impact project outcomes
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Most OCED projects are structured with a cost share agreement where OCED will provide up to 50 percent of the funding. The idea is that OCED will take the early steps to enable these demonstrations and our industry partners will assist with the steps that will lead to commercialization and deployment.
The majority of OCED’s funding will be issued through a competitive process, in which OCED will be looking for projects that have the highest impact for climate, equity, and job creation. All OCED programs are covered under the Justice40 Initiative.