Power plants with carbon capture and storage (CCS) are expected to play a significant role in decarbonizing the power sector. Yet there is very little CCS deployment presently. The lack of deployment is likely the result of insufficient incentives, climate policy uncertainty, and challenges associated with CO2 transport and storage infrastructure. This study explores the policy conditions that are needed to incent deployment of CCS technologies in the power sector. Scenario analysis is used to estimate deployment across a range of CO2 prices (i.e., penalties on emitted CO2), direct subsidies of captured CO2 (e.g., 45Q), and subsidy lengths (10 vs. 30 years). The policy implications are assessed for a broad portfolio of CCS technologies (retrofits and new) and capture rates (90-100%). In addition, we assess the implications for long-term power sector CO2 emissions, coal and natural gas consumption, and system costs. We find that CCS deployment requires sustained policy support in the form of 30-year subsidies, long-term CO2 prices, and/or 10-year subsidies in combination with CO2 prices. While CO2 prices provide the most efficient approach for incenting CCS and reducing emissions, they may be politically infeasible. In this case, a significant reduction in cumulative CO2 emissions can be achieved with a large 30-year subsidy for captured CO2. A large sustained subsidy can also provide co-benefits for the coal industry by dramatically increasing coal consumption. However, these large subsidies are estimated to cost taxpayers hundreds of billions of dollars and thus represent a costly strategy.