Part two: What are the economic costs and what funding is available for carbon capture and storage technologies?
In addition to technology, economic costs are clearly a key issue for further development and deployment of CCS/CCU technologies.
Costs vary depending on factors such as:
- technology;
- industry;
- CCS/CCU value chain; and
- country.
The capture of CO2 is the most cost-intensive part of the CCS/CCU value chain, representing up to two-thirds of the total costs.
The costs of CO2 transport and storage constitute a relatively small share of the overall costs of the value chain.
The storage costs vary depending on the storage site.
Public funding programmes are indispensable for creating a market for CCS/CCU technologies, in particular regarding the capture technology that represents the largest cost component in the CCS/CCU value chain. Public funding is required:
- to safeguard further R&D and deployment; and
- to incentivise investors.
This Special Report focuses on public funding schemes set up by the European Union as well as detailing the economic costs involved at each stage geographically.This Special Report provides the regulatory and political insights to succeed in the rapidly changing CCS market. It is an invaluable resource for in-house counsel, senior managers, engineers, consultants, researchers and policy makers with an interest in the energy sector and CCS technologies and projects.
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