Carbon capture and storage (CCS) is a competitive power sector emissions abatement tool when compared to other low-carbon technologies, a new study has found.
The Costs of CCS and Other Low-Carbon Technologies, released recently by the Global CCS Institute, finds that hydropower and onshore wind are among the least-cost technologies for reducing 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%.”
The study finds that the cost of mitigating, or avoiding, CO2 emissions for a coal-fired power plant fitted with CCS technology ranges from US$23-92 per tonne of CO2.
This is compared to an avoided CO2 cost of US$90-176/tonne for offshore wind, US$139- 201/tonne for solar thermal and even more for solar PV.
The full study can be found at http://www.globalccsinstitute.com/publications/costs-ccs-and-other-low-carbon-technologies