4/23/2024 0 Comments Carbon capture companies ukThe think tank found that the UK is targeting applications where CCUS could lock consumers into a high-cost and fossil-based future, despite the existence of cleaner and cheaper alternatives.įor example, it argued that plans to use CCUS to decarbonise steel production and gas-fired power plants should be abandoned, with both applications likely to be out-competed by cleaner alternatives. For example it estimated that the need for gas plants with CCUS could be one-third of earlier estimates due to the growth of renewables, battery storage and flexible technologies. However Carbon Tracker has found that, since then, cost estimates for deploying CCUS have more than doubled, while the need for carbon capture could be much smaller. This strategy was based on the recommendations of the Climate Change Committee, published in The Sixth Carbon Budget in December 2020. In December 2023 the UK outlined an ambitious CCUS strategy, aiming to capture 20-30 million tonnes of C02 per annum by 2030, backed by £20 billion in taxpayer funding. This strategy risks locking consumers into a high-cost, fossil-based future, despite cleaner and cheaper alternatives being available. London 14 March – The UK Government’s CCUS strategy is based on optimistic techno-economic assumptions that are now outdated and unrealistic, warns a report from the financial think tank Carbon Tracker released today. Controversial Drax power plant emblematic of the risks of overreliance on unproven CCUS technology
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