TRACKING THE SUCCESS OF CONVENTIONAL DECARBONISATION STRATEGIES with a Focus on CCS and CCUS

Abstract

This research examines the effectiveness of traditional decarbonisation strategies, specifically focusing on Carbon Capture and Storage (CCS) and Carbon Capture, Utilisation, and Storage (CCUS) technologies. A comprehensive review evaluates the technological advancements, economic feasibility, and regulatory frameworks that have influenced the adoption of CCS and CCUS in the United Kingdom, the United States, the European Union, and Iceland. It also presents critical case studies of operational CCS/CCUS projects in these regions, offering a global perspective on the development of these technologies. The analysis encompasses optimistic and conservative projections for CCS deployment while evaluating the economic and storage capacity challenges inherent in the UK's decarbonisation plans. Moreover, it examines the cost analysis of various carbon capture methods, including Bioenergy with Carbon Capture and Storage BECCS and Direct Air Capture (DAC), to gauge the financial feasibility of these strategies and estimate the total decarbonisation cost for the UK’s energy system, projected at £3 trillion by 2050. The study concludes by estimating the UK's CO₂ storage capacity, suggesting its long-term feasibility based on current technological advancements and storage potential. This research underscores the importance of CCS and CCUS technologies in global decarbonisation efforts while addressing the uncertainties related to their long-term application and cost efficiency.