- Category: Politics
09 Jan 2013
- Published on Wednesday, 09 January 2013 09:17
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High costs coupled with poor policies hamper the widespread adoption of carbon capture and storage technology, according to the International Energy Agency.
With fossil fuels consumption continuing to surge, C.C.S. is a “critical element to limiting climate change” as it allows the burning of fossil fuels without pumping more greenhouse gasses to the atmosphere.
In order to boost C.C.S. deployment, the I.E.A. suggests that national governments must come up with practical incentive policies, with existing policies for renewable energy potentially serving as models for C.C.S. adoption. This will in turn help encourage more developers and attract more investors, addressing the high costs of C.C.S. technology.
Meanwhile, despite significant efforts taken to move toward renewable energy sources, fossil fuels such as oil, coal and gas, still account for around four-fifths of the global energy mix.
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They contributed 81 percent to the overall energy demand as of 2009 and 85 percent of the growth in energy demand worldwide in the past 10 years.
Under the I.E.A. 2-degree scenario, fossil fuel consumption needs to be cut by 20 percent in 2050 from todays levels but would still deliver 45 percent of the world’s primary energy demand. However, the emissions from that remaining consumption of fossil fuels must be captured and stored.
For C.C.S. to reach its potential, the I.E.A. believes that 100 C.C.S. projects would be needed by 2020 and over 3,000 by 2050.
“Carbon capture and storage is not a substitute, but a necessary addition to other low-carbon energy technologies and energy efficiency improvements,” said Juho Lipponen, I.E.A. head of Carbon Capture and Storage Technology Unit.
C.C.S. involves the capture of carbon emissions from fossil fuel combustion and storing it underground in deep geological formations, preventing further increase of greenhouse gas effect.
To date, there are more than 70 large-scale integrated C.C.S. facilities across the world in various stages of developments, according to the Global C.C.S. Institute. – C. Dominguez