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