ccs policy: is it on track? chris short
DESCRIPTION
A couple of Institute staff, Chris Short (chief economist) and Andrew Roden (head of project analysis & development), recently presented the findings of the Institute's 2010 Global Status of CCS Report at a number of breakfast events throughout Australia. The events were hosted by AECOM in Brisbane and Parsons Brinckerhoff in Sydney and Melbourne, in early and mid June.TRANSCRIPT
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GLOBAL CCS INSTITUTEGLOBAL CCS INSTITUTE
CCS Policy: Is it on track?Christopher Short– Chief EconomistJune 2011
WWW.GLOBALCCSINSTITUTE.COM 1
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GLOBAL CCS INSTITUTEGLOBAL CCS INSTITUTE
GLOBAL STATUS OF CCS
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GLOBAL CCS INSTITUTEGLOBAL CCS INSTITUTE
WORLD CARBON INTENSITY – THE CHALLENGE
World US EU World 20500
100
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766
560
454
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Mt/
000U
S$
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GLOBAL CCS INSTITUTEGLOBAL CCS INSTITUTE
WORLD CARBON INTENSITY – THE CHALLENGE
World US EU World 20500
100
200
300
400
500
600
700
766
560
454
6
Mt/
000U
S$
Complete decarbonisation of energy production
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GLOBAL CCS INSTITUTEGLOBAL CCS INSTITUTE
ONE POSSIBLE SCENARIO
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GLOBAL CCS INSTITUTEGLOBAL CCS INSTITUTE
CCS POLICY FRAMEWORKS
• Accelerating innovation and CCS development:– demonstrate safe, secure, long term storage of
CO2
– understanding and improving large scale cost and performance
– increasing R&D activities– Accelerate the sharing of lessons learnt
• Identifying viable geological storage areas• Developing legal and regulatory frameworks• Improving public awareness and consultation
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PUBLIC FUNDING SUPPORT COMMITMENTS TO CCS BY COUNTRY
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PUBLIC FUNDING ALLOCATED TO LARGE PROJECTS
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GLOBAL CCS INSTITUTEGLOBAL CCS INSTITUTE
PUBLIC FUNDING ALLOCATED TO LARGE PROJECTS
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GLOBAL CCS INSTITUTEGLOBAL CCS INSTITUTE
GLOBAL STORAGE ASSESSMENT
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GLOBAL CCS INSTITUTEGLOBAL CCS INSTITUTE
REGIONAL ASSESSMENTS
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DESIGN STUDIES VS REAL PROJECTS
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GLOBAL CCS INSTITUTEGLOBAL CCS INSTITUTE
CONTRASTING EMERGING PROJECT COSTS
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INSTALLED CAPTIAL COSTS FOR 550MW NET GENERATION
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GLOBAL CCS INSTITUTEGLOBAL CCS INSTITUTE
LEVELISED CCS COSTS ACROSS DIFFERENT CAPTURE TECHNOLOGIES
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GLOBAL CCS INSTITUTEGLOBAL CCS INSTITUTE
LEVELISED COSTS AS A FUNCTION OF LOCATION
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GLOBAL CCS INSTITUTEGLOBAL CCS INSTITUTE
IS CCS POLICY ON TRACK?
• It’s not just about prices
• The size of the market matters for innovation
• Relatively low patent activity in most low carbon technologies technologies
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