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The Economics of Direct Air Carbon Capture and Storage

The Economics of Direct Air Carbon Capture and Storage

Full Title: The Economics of Direct Air Carbon Capture and Storage
Author(s): Eric Williams
Publisher(s): Global CCS Institute
Publication Date: July 30, 2022
Full Text: Download Resource
Description (excerpt):

Carbon capture and storage (CCS) is a set of technologies that capture CO2 from large emission sources or from the atmosphere and safely stores it underground or permanently in products. CCS is a versatile technology that enables both emissions mitigation from industry, power generation and hydrogen production as well as carbon dioxide removal (CDR) through direct air capture with CCS (DACCS) and bioenergy with CCS (BECCS). CCS is an essential part of the solution to climate change, a perspective supported through analysis of potential pathways to net-zero from organisations including the International Energy Agency (IEA) and the Intergovernmental Panel on Climate Change (IPCC) which have highlighted a clear role for point source capture CCS as well as engineered CDR technologies such as DACCS and BECCS.

DACCS can play an important role as a safety net for achieving net zero, potentially avoiding a climate disaster if other low-cost pathways are not realised. The challenge inherent for governments is to implement policy and give incentives to immediately available mitigation pathways, while supporting the development and commercialisation of lower-cost DACCS. Additional focus should go to the necessary transport and storage infrastructure to support widescale DACCS deployment.

All statements and/or propositions in discussion prompts are meant exclusively to stimulate discussion and do not represent the views of, its Partners, Topic Directors or Experts, nor of any individual or organization. Comments by and opinions of Expert participants are their own.

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