The Petra Nova CCS Facility at NRG Power Plant in Richmond, Texas
Solving the CCS cost conundrum
Changes to the energy mix and government-backed development of CCS would put the climate goal within reach, according to DNV GL
Standards agency DNV GL’s forecast that there will be significant changes to the world’s energy mix over the next three decades, set out in its Energy Transition Outlook, is hardly a consensus-breaking view. But its almost 300-page report, built on a cost-based model, is more analytical and provides more robust predictions than most. Its model predicts that the share of renewables in the world energy mix will increase from 14pc to 40pc in 2050 while oil and gas will decline from 54pc to 46pc. For fossil fuels, it sees carbon capture and storage (CCS) as an essential and increasingly affordable technology—as long as governments provide support for its development. “Our model forecasts tha
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