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Update to this TINA will be considered in our next phase of analysis:

Carbon Capture and Storage (CCS) offers many benefits to a low-carbon energy and economic system:

  • it could deliver c.10-35% of total UK generation by 2050;
  • it allows the flexibility and energy security benefits of fossil fuel combustion with near-zero GHG emissions;
  • when applied to biomass firing, it serves as a source of relatively low-cost negative emissions; and
  • it is applicable to industrial power and process emissions, which are particularly costly to reduce.

Having CCS available (compared to an energy system without CCS) is estimated to save the UK hundreds of billions of GBP in cumulative value between 2010 and 2050. Nevertheless, considerable work remains to demonstrate CCS at large scale and across the entire chain. Innovation to ensure the security of long-run CO2 storage remains particularly critical to CCS viability.

Innovation could also drive down the costs of CCS, saving the UK energy system an additional £10 - 45bn[1] to 2050. Innovation can also help create a UK industry with the potential to contribute further economic value of £3-16bn to 2050. Significant private sector investment in innovation, catalysed by public sector support where there are market failures, can deliver the bulk of these benefits with strong value for money.

[1] Cumulative (2010-2050) present discounted values in low-high scenarios for the savings driven by ‘learning by research’

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