Haven Power

CCS could rapidly become cost competitive, says industry group

CCS could rapidly become cost competitive, says industry group


 

Carbon Capture and Storage (CCS) has the potential quickly to become cost-competitive with other low-carbon technologies, according to an industry report. Published on Wednesday 24 June by the Carbon Capture and Storage Association (CCSA), the paper said only around 2.5GW of CCS capacity––equating to around five or six projects––would be needed to deliver these reductions, which could see the technology at approximately £100/MWh by the middle of the next decade. It noted that the annual cost of supporting this capacity through the contracts for difference regime would be in the region of £1.1bn, and that this compared favourably to the annual costs necessary to bring offshore wind below £100/MWh.

 

CCSA