Technology Readiness and Costs of CCS
29th March 2021
Carbon Capture and Storage (CCS) are essential technologies to help achieve net zero ambitions. The cost of deployment of CO2 capture, transport and storage systems is of vital economic and environmental importance. This importance will continue to increase as the scale and breadth of CCS deployment grows around the world.
As part of the Circular Carbon Economy: Keystone to Global Sustainability series with Columbia University's SIPA Center on Global Energy Policy, this report examines CCS technology from two perspectives: technology readiness and factors influencing costs.
Key drivers of CCS cost include:
- Economies of scale;
- Partial pressure of CO2 in the source gas;
- Energy costs; and
- Technological innovation.
Mature and emerging technologies in carbon capture, transport and storage are surveyed for technological readiness. Technological development will be a key element of driving future cost reductions in CCS and applying CCS to hard-to-abate sectors such as cement, steel and direct air capture.
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