Global CCS Institute – CCS is a competitive emissions abatement tool

Carbon capture and storage (CCS) is a competitive abatement tool for power sector emissions when compared to other low-carbon technologies, according to a new study by the Global CCS Institute.

“The Costs of CCS and Other Low-Carbon Technologies” finds that hydropower and onshore wind are among the least-cost technologies for reducing carbon emissions from the power sector.

“Once these „low hanging fruit‟ options are exploited, and in countries where these technologies are not an option, CCS becomes a very competitive option,” said Barry Jones, General Manager for Policy and Membership at the institute.

“CCS is in fact a very important part of a broader portfolio approach to addressing climate change,” he said. “The technology’s role in a global clean energy future cannot be underestimated, given that CCS can reduce emissions from power plants by as much as 90 per cent.”

In terms of costs, CO2 mitigation or avoidance for a coal-fired power plant by means of CCS technology ranges from US$23-92/t of CO2. Offshore wind weighs in at US$90-176/t while solar thermal requires US$139-201/t.

“It‟s important to note that costs of new technologies that have not reached full maturity, such as CCS, will become lower into the future,” Jones said. “Governments are aware of this and are investing significantly in R&D and demonstration for the CCS sector.”

He added: “Our findings are in line with International Energy Agency estimates which say that without CCS, abatement costs in the electricity sector could be higher by more than 70 per cent.”