||The UK can build 10 GW of carbon capture and storage by 2030, cutting the costs of meeting carbon targets and safeguarding jobs in key energy-intensive industries.
- Successfully deploying CCS would save billions of pounds – capturing industrial emissions at low cost, providing low carbon energy for industry, transport & heat and delivering negative emissions combined with Bioenergy
- To deliver these savings requires around 10GW of capacity by 2030 - needs capital investment around £21-31bn – based on efficient sharing of infrastructure and co-ordinated cluster/hub development
- Early investments in transport and storage infrastructure can unlock future unit cost reductions and strategic build out options. Strike prices below £100 per MWh are achievable in the 2020s
- 10GW scale deployment is achievable and affordable, capturing and storing around 50 million tonnes of CO2 per annum from power and industry by 2030
- Developing capture technology options and diversifying geographical location can deliver reduced risk
- Success or otherwise in deploying CCS determines key aspects of the UK’s energy infrastructure architecture
- Delay increases reliance on nuclear and offshore wind – increasing system risk and costs before and after 2030