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Carbon capture and storage investment: fiddling while the planet burns

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Title: Carbon capture and storage investment: fiddling while the planet burns
Authors: Pratama, YW
Mac Dowell, N
Item Type: Journal Article
Abstract: Carbon capture and storage (CCS) has been recognized as a key technology in energy systems decarbonization. However, numerous attempts to deploy CCS failed, and the technology is still viewed as pre-commercial. Consequently, public investment in CCS has been largely limited to research, development, and demonstration (RD&D) in capture technology. While it is understood that private investment will typically focus on the development of intellectual property aimed at delivering a commercial advantage, there is a lack of evidence that public investment in CCS RD&D can deliver commercial viability. Here, we show that, while improved CCS technology in the electricity systems will deliver larger market shares to the technology developers, the benefit on overall system cost is negligible. Thus, public sector efforts should focus primarily on overcoming commercialization failures, such as the absence of CO2 transport and storage infrastructures and other deployment barriers, leaving the development of intellectual property to the private sector.
Issue Date: Apr-2022
Date of Acceptance: 22-Mar-2022
URI: http://hdl.handle.net/10044/1/97914
DOI: 10.1016/j.oneear.2022.03.008
ISSN: 2590-3322
Publisher: Elsevier BV
Start Page: 434
End Page: 442
Journal / Book Title: One Earth
Volume: 5
Issue: 4
Copyright Statement: © 2022 The Authors. Published by Elsevier Inc.
Sponsor/Funder: Engineering & Physical Science Research Council (E
Funder's Grant Number: 609630
Publication Status: Published
Appears in Collections:Centre for Environmental Policy

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