Developing a 10GW scale carbon capture and storage (CCS) sector by 2030 is “feasible and affordable” in the UK .
That’s the findings of a new report from the Energy Technologies Institute (ETI), which suggests CCS deployment could capture and store around 50 million tonnes of carbon emissions every year from power stations and industry. It could also deliver strike prices at or below £100/MWh by 2025.
George Day, Head of Economics Strategy at the ETI told ELN a delay in developing a UK CCS sector could increase the risk of higher costs in meeting carbon budgets, both before and after 2030.
The report also warned decisions taken in the next decade are “critical” in preparing for the transition and crucial decisions must be made about the design of the UK future energy system by 2025.
Jo Coleman, Director of Strategy Development at the ETI added fossil fuels will be required in the nation’s energy system to 2050 and solutions that can help reach the UK’s decarbonisation targets to stop global warming are vital.
“To do that we need to look at maintaining fossil fuels in the system and one way to do that is with carbon capture and storage,” she told ELN.
While there has been criticism about the delay in deploying CCS in the UK, Ms Coleman believes the same argument could be had for nuclear and offshore wind.
“We haven’t been that successful at deploying any of what are potentially key technologies in our future energy system. One thing we often hear is that CCS is in competition with renewables and nuclear. Today we need all three of them being developed in order to prove they are credible options for the future energy system and to give confidence to investors that they can move ahead and put the money into those technologies.”
She added bioenergy, nuclear and low carbon heating are as important as CCS towards decarbonising the UK’s energy system.
Ms Coleman said she would want clarity around support for decarbonisation targets from the next government, adding: “Beyond that we need to see further development of the EMR [Electricity Market Reform] and the Contracts for Difference, a long term commitment to develop key technologies such as nuclear, CCS and offshore wind in the supply side and the Levy Control Framework and the support mechanism to be in place to provide that.”