|The ETI’s analysis of the UK energy system points to the central importance of CCS in enabling the UK to meet its carbon targets efficiently. CCS could save tens of billions of pounds (up to circa 1% of GDP by 2050) from the annual cost of meeting UK Climate Change targets, compared with alternative approaches to reducing emissions which do not deploy this capability.
The ETI has carried out techno-economic and project investment level modelling of CCS at both process plant and energy system levels in order to build knowledge of the role and value of the technology and; to better understand the barriers facing the industry. Much of the work has been on risk and cost reduction in CO2 transportation and storage, but has also covered the cost of capture, which is the largest single cost element in CCS operations and which, unlike transportation and storage infrastructure, often cannot easily be shared across multiple emissions sites
Apart from its role in power generation, CCS can capture industrial emissions at low cost; provide flexible low carbon energy for industry, transport and heat through gasification; and, in combination with bioenergy, deliver high value negative emissions.
These outcomes can be delivered by creating a supportive policy environment with early action on critical issues to bring forward timely investment.