As one year comes to an end and another gets ready to begin, DNV GL’s Kaare Helle and Anne Louise Koefoed share their view on realising carbon capture and storage (CCS) technologies globally and leave us all with some much-needed food for thought this festive season.
For Carbon Capture and Storage (CCS) to make a meaningful contribution towards decarbonising our energy system, it needs to start with a bang, not a whimper1. Scale projects are needed now if CCS is to stand any chance of benefiting from the cost-learning curve rates enjoyed by other rapidly-advancing elements of the low carbon economy, like renewables and storage.
It is not often that a forecaster wishes to be proved wrong. At DNV GL, our Energy Transition Outlook (ETO) projection is that CCS will capture only 1.5% of emissions in 2050. That is another way of saying that CCS will not advance meaningfully without an extraordinary shift in commercial incentives.
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