Welcome to the blog site of the carbon capture and storage association (CCSA)
What is the difference between value and cost? When a technology like CCS is indispensable to the UK economy (high-value), what role does the cost play?
The UK Government published its Industrial Strategy Green Paper a few weeks ago, emphasising the need to reduce the cost of energy and decarbonisation in the power and industrial sectors. There is overwhelming evidence showing that CCS is one of the most valuable solutions to achieving this goal – for example the Committee on Climate Change has concluded that CCS has the potential to halve the cost of meeting the UK’s 2050 climate change target.
However, to realise the tremendous value of CCS, we need to tackle the perception that CCS is high-cost.
During the summer holidays, whilst Parliament was in recess, things have actually been quite busy in the world of CCS.
On the 8th September, the CCSA hosted a CCS Knowledge Transfer Workshop – to allow CCS project developers to engage with representatives of the two projects in the cancelled CCS Competition. The workshop was framed around the 90 Key Knowledge Deliverables (KKD’s) from the Competition projects – a requirement under the terms of the competition – which have now been published in full on the UK Government website. Together with our Lessons Learned report, which we blogged about in July, we should now have a good understanding of how to move forward with CCS projects and what to avoid.
Speaking of moving forward, let’s draw a line under the Competition and look to the future. We need a simple CCS story that answers three basic questions; Why CCS? Why UK? And Why Now?