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ECONOMICS – RATIONALE FOR CCS In power generation, CCS offers significant CO 2 abatement potential at a reasonable cost CURRENT COSTS OF CO 2 AVOIDED BY LOW-CARBON POWER TECHNOLOGY* VERSUS RESPECTIVE SHARES OF CO 2 EMISSIONS-REDUCTION POTENTIAL IN 2050** $/tCO 2 avoided 250 200 150 100 50 0 -50 Share of emissions-reduction potential among low-carbon power technologies (%) 3% -37 6% -27 Range of cost of CO 2 avoided relative to coal 18 20% -7 8 11% -8 49 11% 9 Geoth Hydro Nuclear Wind Biomass CCS CCS Wind Solar Solar (onshore) (heat & power) (Coal) (gas) (offshore) (PV) (CSP) Notes: * Cost of CO 2 avoided with current technologies in the US relative to coal, except for CCS (gas), which is compared with a gas-fired power plant. Coal is taken as the reference plant because it emits the highest level of CO 2 of all power-generation technologies. The cost of CO 2 avoided can be negative, implying that the technology is more cost-effective than coal even without considering the emissions impact. This is the case for hydropower and conventional geothermal power. ** Economic potential of each technology to contribute – at the global level – to the lowest-cost pathway to limiting global warming to 2°C compared with business-asusual projection by 2050 (IEA‟s 2DS and 6DS scenario in Energy Technology Perspective, 2012) Source: SBC Energy Institute. Costs derive from 19 international studies gathered by the Global CCS Institute in “The costs of CCS and other low-carbon technologies – issues brief 2011, No.2”. One figure gave an abatement cost of only $23/t for coal CCS and has been voluntarily excluded from this dataset. Other sources include: Bloomberg New Energy Finance for Wind and Solar; IEA, “Industrial Roadmap for CCS”, 2011; © 2012 SBC Energy Institute. All Rights Reserved. 92 17% 53 106 4% 67 176 8% 90 239 11% 115 213 11% 139 100% 31
ECONOMICS – RATIONALE FOR CCS CCS electricity could be competitive with other decarbonized options while providing baseload power capacity RANGE OF LEVELIZED COST OF ELECTRICITY (LCOE) IN THE US WITH CURRENT TECHNOLOGIES $ per MWh 300 300 250 Baseload or dispatchable capacity Intermittent capacity 265 265 215 200 150 113 175 119 146 166 185 100 50 61 60 43 52 86 94 67 68 81 89 107 100 Conventional thermal power plants (coal, natural gas) 0 Geothermal Hydro Wind Nuclear Biomass CCS CCS Wind Solar (onshore) (coal) (gas) (offshore) (PV) Solar (Thermal) Geothermal EGS Notes: Source: Levelized costs of electricity do not include back-up capacity needs and grid-integration costs incurred by the intermittency of variable renewable output Estimates are ranges of LCOE in the United States with current available technologies, and derive from 19 international studies gathered by the Global CCS Institute in “The costs of CCS and other low-carbon technologies – issues brief 2011, No.2”. Estimates for EGS are highly hypothetical and derive from models from MIT, 2006; and Huenges and Frick, 2010. © 2012 SBC Energy Institute. All Rights Reserved. 32
Page 1 and 2: LEADING THE ENERGY TRANSITION Carbo
Page 3 and 4: EXECUTIVE SUMMARY (1/2) │CCS is a
Page 5 and 6: TABLE OF CONTENTS 1. CCS Technology
Page 7 and 8: TECHNOLOGIES ‒ R&D INVESTMENTS AN
Page 13 and 14: TECHNOLOGIES ‒ KEY R&D AREAS OF F
Page 15 and 16: TECHNOLOGIES ‒ KEY R&D AREAS OF F
Page 17 and 18: PROJECTS CCS entered the demonstrat
Page 19 and 20: PROJECTS ‒ INVESTMENTS AND KEY PL
Page 21 and 22: Decrease of capture costs PROJECTS
Page 23 and 24: PROJECTS ‒ DYNAMIC OF CCS DEMONST
Page 25 and 26: PROJECTS ‒ DYNAMIC OF CCS DEMONST
Page 27 and 28: Capital requirement * Technology ri
Page 29 and 30: 3. Economics EOR revenues compensat
Page 31: ECONOMICS - RATIONALE FOR CCS In in
Page 35 and 36: ECONOMICS - COST STRUCTURE Applying
Page 37 and 38: ECONOMICS - POTENTIAL FOR COST DECR
Page 39 and 40: ECONOMICS - POTENTIAL FOR COST DECR
Page 41 and 42: ECONOMICS - ECONOMIC INCENTIVES Glo
Page 43 and 44: 4. Perspectives The pipeline of CCS
Page 45 and 46: PERSPECTIVES - PROJECTS OUTLOOK Pro
Page 47 and 48: PERSPECTIVES - PROJECTS OUTLOOK By
Page 49 and 50: PERSPECTIVES - PROJECTS OUTLOOK Chi
Page 51 and 52: PERSPECTIVES - RECOMMENDATIONS AND
Page 53 and 54: APPPENDIX Four main capture process
Page 55 and 56: APPPENDIX Orders of magnitude • E
Page 57 and 58: APPPENDIX Bibliography (1/2) • Ad
Page 59: September 2012 Copyright © SBC Ene

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