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
GLOBAL CCS INSTITUTEGLOBAL CCS INSTITUTE
CCS Policy: Is it on track?Christopher Short– Chief EconomistJune 2011
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GLOBAL STATUS OF CCS
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WORLD CARBON INTENSITY – THE CHALLENGE
World US EU World 20500
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766
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454
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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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ONE POSSIBLE SCENARIO
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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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PUBLIC FUNDING ALLOCATED TO LARGE PROJECTS
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GLOBAL STORAGE ASSESSMENT
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REGIONAL ASSESSMENTS
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DESIGN STUDIES VS REAL PROJECTS
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CONTRASTING EMERGING PROJECT COSTS
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INSTALLED CAPTIAL COSTS FOR 550MW NET GENERATION
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LEVELISED CCS COSTS ACROSS DIFFERENT CAPTURE TECHNOLOGIES
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LEVELISED COSTS AS A FUNCTION OF LOCATION
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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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