Hughes, N;
Watson, J;
Ekins, P;
(2018)
Business, Energy and Industrial Strategy Committee carbon capture, usage and storage (CCUS) inquiry. Submission on behalf of UCL Institute for Sustainable Resources (ISR) and the UK Energy Research Centre (UKERC).
UK Energy Research Centre: London, UK.
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Abstract
Current modelling evidence suggests that meeting carbon reduction targets will be at best significantly more expensive, and at worst impossible, without CCUS. This is primarily due to its offer of emissions reductions in industrial sectors, and of negative emissions with biomass, rather than as a power sector technology per se. Attempting to pre-define a cost-reduction trajectory for CCUS in advance is difficult and uncertain. Rather, the government should establish a maximum subsidy level at which it would be prepared to contribute to funding CCUS, and commit to fund projects should they reach this level or go below it. It should then introduce competitive mechanisms to assist discovery of the lowest cost, similar to the Contract for Difference (CfD) auctions. It also needs to support the whole innovation chain, coordinating diverse actors across industry and power sectors, CO2 transmission and storage; supporting research, development and demonstration efforts of shared benefit; taking over whole chain risk; identifying synergies between industrial sectors. Although CCUS currently appears to be critical to industry decarbonisation, there are other potential options which may compete with or indeed complement CCUS in the longer term. A bottom-up, granular approach to decarbonisation challenges and opportunities within specific UK industry clusters will yield greater long-term benefits than a single-technology focus on CCUS alone.
| Type: | Report |
|---|---|
| Title: | Business, Energy and Industrial Strategy Committee carbon capture, usage and storage (CCUS) inquiry. Submission on behalf of UCL Institute for Sustainable Resources (ISR) and the UK Energy Research Centre (UKERC) |
| Open access status: | An open access version is available from UCL Discovery |
| Publisher version: | http://www.ukerc.ac.uk/publications/response-to-cc... |
| Language: | English |
| Additional information: | This version is the version of record. For information on re-use, please refer to the publisher’s terms and conditions. |
| Keywords: | Carbon capture and storage, Carbon capture usage and storage, CCS, CCUS, energy, decarbonisation, industry, electricity, policy, government |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > Bartlett School Env, Energy and Resources |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10087872 |
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