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CCUS: Big Opportunity and Hard Questions
๐ก๐๐๐ ๐๐ข๐ฅ ๐๐๐จ๐ฆ - NECESSITY NOT AN OPTIONย
For the world to avoid a climate catastrophe, carbon capture is likely a necessity, not an option. To meet the Paris Agreementโs objectives -ย keep warming below 2C and preferably near 1.5Cโnet zero carbon emissions must be achieved circa 2050,ย and some carbon dioxide will have to be extracted from the atmosphere
1. ๐๐ผ๐ฒ๐ ๐๐๐ฆ ๐ช๐ผ๐ฟ๐ธ?
PETRONOVA experience & learnings;ย if Petra Nova was a technical success, it is also a cautionary tale. Petra Nova has been mothballed since May 2020 because it is uneconomic.ย
2-๐๐ผ๐ฎ๐น & ๐๐๐จ๐ฆ:
A US coal plant with CCUS would need mammoth subsidies to dispatch under current conditions. It is probably a much better market for CCUS coal retrofits than the U.S.ย American industry and government must then decide how to effectively compete.
3-๐ก๐ฎ๐๐๐ฟ๐ฎ๐น ๐๐ฎ๐ ๐๐๐จ๐ฆ:
The CCUS technology that has been developed to date for coal plants cannot, so to speak, be simply slapped onto a natural gas combined cycle (NGCC) plant IEA has pinpointed CCUS for gas-fired plants as an area where a near-term push from R&D is needed.ย
4-๐๐๐ฑ๐ฟ๐ผ๐ด๐ฒ๐ป & ๐๐๐จ๐ฆ:
Economics, currently favor blue hydrogen; Green hydrogen is expected to eventually close the cost gap with blue; estimates range from the early 2030s to circa 2050.
5-๐๐ผ๐ถ๐ป๐ด ๐๐ผ๐ฟ๐๐ฎ๐ฟ๐ฑ:
Deployment Requires Robust Government Support.
ย
๐๐ข๐ง๐ง๐ข๐ ๐๐๐ก๐
A common element of proposed climate strategies is to initially focus on the low-hanging fruitโsuch as building wind and solar power and retiring coal plantsโfollowed by CCUS deployment to control emissions (what cannot be reduced or avoided) from the remaining combustion sources and for carbon removal. ย For this approach to succeed, the groundwork must be laid now.ย
CCUS: Big Opportunity and Hard Questions
For the world to avoid a climate catastrophe, carbon capture is likely a necessity, not an option. To meet the Paris Agreementโs objectivesโkeep warming
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