The Global CCS Institute released a new report on the state of carbon capture projects and technologies worldwide. Here are 5 key takeaways:
- Carbon Capture projects are on the rise: In the last 12 months, the total capacity of commercial CCS projects in the pipeline has increased 44%. As of September, there are 196 projects in various stages of development with a potential capture capacity of 243.97 million tons per year. On this front, the United States is leading the charge with 34 of those projects right here at home.
- Governments and businesses around the world are identifying carbon capture as critical for a variety of reasons. For some, carbon capture technologies are attractive for their ability to reduce carbon footprints. For others, the benefits of a robust carbon capture industry – from additional local revenue to new job creation – make it an appealing investment to ensure communities are financially supported during the clean energy transition. You can read more about the role of carbon capture in supporting energy security here.
- The report notes that in light of the United States’ stated goal of 100% clean electricity by 2035 and a net-zero emissions economy by 2050, our energy policies are relying heavily on carbon capture technologies. That’s because there’s an overwhelming consensus that carbon capture is a common sense environmental solution that will benefit our economy and workforce. You can read more about carbon capture’s history of bipartisan support here and the latest on U.S. Department of Energy funding here.
- The success of carbon capture in any given country or region, and the realization of economic and environmental benefits, is dependent on a robust network of carbon capture infrastructure, particularly pipelines.
- Carbon capture is playing an important role in the development and growth of hydrogen, another critical piece of the United States’ clean energy landscape – and one which stands to benefit local economies. Hydrogen that leverages carbon capture, known as “blue” hydrogen, is being increasingly deployed by industrial consumers to lower their overall carbon footprint.
You can read the full report here.