We carried out a detailed investigation on Carbon Capture and Storage (CCS) to help DECC and other members of the LCICG realise this technology's potential.
The work has been undertaken for the Low Carbon Innovation Coordination Group (LCICG), which is made up of a range of different bodies including the Department of Energy and Climate Change (DECC), the Department for Business, Innovation and Skills (BIS), the Carbon Trust, the Energy Technologies Institute (ETI), the Technology Strategy Board (TSB), the Scottish Government, Scottish Enterprise, the Engineering and Physical Sciences Research Council (EPSRC), and other organisations with significant low carbon innovation interests.
The Technology Innovation Needs Assessment (TINA) analytical framework was developed and implemented by the Carbon Trust with contributions from all core LCICG members as well as input from numerous other expert individuals and organisations.
Carbon Capture and Storage (CCS) for the power sector has tremendous potential to help the UK and the world effectively meet greenhouse gas and energy security targets.
Innovation across the CCS technology chain could reduce UK energy system costs by £10 to 45 billion* to 2050, and innovation to ensure the security of long-run CO2 storage remains particularly critical to CCS viability. Innovation can also help create a UK industry with the potential to contribute further economic value of £3 to 16 billion* to 2050. Significant private sector investment in innovation, catalysed by public sector support where there are market failures, can deliver the bulk of these benefits with strong value for money.
The TINA findings will be used to underpin the design and focus of DECC's and other LCICG's members' programmes and activities in these technology areas.