The ever-escalating cost of not pursuing CCS
Date: 04 Oct 2013
Source: Power Engineering
Accessibility: Publicly available
Global policy makers need to get to grips with the positive implications of embracing carbon capture and storage (CCS) technology, or else pay an unnecessarily expensive price in order to achieve carbon emission reduction targets. That is according to the Chief Executive of Global CCS Institute, Brad Page, who spoke to Power Engineering International about the reasons why the world needs to accelerate its thinking when it comes to CCS. In a roster of rationale he presents for encouraging investment in CCS, perhaps the most pressing argument is the sheer expense that the world will incur if it does not pursue the sensible course of action carbon capture promises to deliver. According to the International Energy Agency, in order for the Earth to meet its most optimistic 2 degree C increase scenario, about $2.6trn needs to be invested in CCS. If the world does not come around to CCS at the rate it needs to, or if the technology is just blatantly ignored, "then in fact you double the investment required to curb emissions in the power sector by the equivalent amount - so in effect you will have to spend a total in excess of $5trn to deal with the same level of emissions using other technologies if you don't use CCS," according to Canberra-based Page. He will reinforce the point at the upcoming World Energy Congress in Daegu, South Korea, and also wants to dispel some unsubstantiated opinions on CCS as well as highlight potentially harmful beliefs about renewable power's capacity to cope with the emission challenge.