According to a new study, 2021 could go down as the year when carbon capture breaks its shackles to become a significant player in the energy market.   

The International Energy Agency (IEA) reports that more than 100 new carbon capture facilities have been announced this year. Overall, CO2 capture capacity could quadruple if all planned global projects complete, with more than $25 billion invested in the field since the start of 2020.   

Experts estimate that more than 90% of all industrial and power plant emissions could eventually be captured with sufficient investment and technological advancement. That would account for 14% of all greenhouse gas reductions targeted by the Paris Agreement.   

Carbon capture, utilization, and storage, also known as CCUS, is critical, the IEA says, for the world to limit global temperature rises to 1.5 Celsius (2.7 Fahrenheit) by 2050. 

What Is Carbon Capture and How Does It Work? 

Carbon capture, utilization, and storage (CCUS) come in many forms. The capture element sees carbon dioxide “captured” at source, usually at large or industrial sites such as power plants that burn fossil fuels or biomass. Capture stops carbon from entering the atmosphere at its inception.   

Excess carbon can also be taken directly from the atmosphere, scrubbed from the air, and then stored.   

Carbon trapped by both these processes is then compressed and transported for storage or for use. It can be pumped and sealed into deep underground chambers, including old oil and gas reservoirs.   

Captured carbon has been made into polymers that then became sneakers, thermopolymer plastics, and biofuels. Researchers are also looking at how to use captured carbon, including transforming it into building materials or algae biofuels.   

The umbrella of carbon capture includes reforestation, where trees draw carbon from the air and replace it with released oxygen. It also counts improving farmland to retain carbon better, and using biomass for energy as a form of carbon storage. 

What Sort of Major Carbon Capture Projects Are Underway? 

Most CCUS projects work alongside natural gas plants, with expansion in power, steel, fertilizer, and hydrogen production. More than 25 countries now utilize carbon capture projects, with the United States and Europe the leading players.  

Carbon capture’s potential is huge. Cement production is responsible for 8% of global carbon emissions, but the industry hopes up to 90% of those emissions can be captured at source.   

Copenhagen’s aim to be carbon neutral by 2025 relies heavily on a plan to carbon capture 500,000 tonnes of CO2 belching from the chimneys of the city’s central waste facility.   

Carbon is also a byproduct of the expanding low-carbon hydrogen field, with Air Products announcing the construction of the world’s largest CCUS-equipped hydrogen production facility in Louisiana. Clearly, there’s a reason carbon capture is back under the spotlight. 

Another False Dawn for Carbon Capture Projects? 

CCUS was heralded as an emissions savior after the 2008-2009 global financial crash. Ultimately, billions of dollars invested in international projects never bore fruit due to high operating costs, difficulties in obtaining storage licenses, and funding issues.   

Things may be different this time. The United States introduced a 45Q tax credit in 2018, giving businesses a $50 credit for each metric ton of CO2 stored. The tax brought about a fresh round of investment, and the credits could soon rise to $85 for capture or $120 per tonne for air captured carbon. Government-backed incentives often help lead the markets, which the IEA thinks may inspire extra investment.   

Samantha McCulloch, Head of Carbon Capture Utilisation and Storage Unit at IEA, wrote the report. She said: “CCUS deployment has shifted from a focus on large, stand-alone facilities to the development of industrial hubs with shared CO2 transport and storage infrastructure.   

“If net zero is to remain within reach, CCUS cannot spend another decade sitting on the sidelines of climate mitigation efforts. Net-zero plans make CCUS a necessity, not an option.” 

Carbon Storage Has a Big Role to Play in Emission Reduction 

Greenhouse gases and emissions are a hot topic as the world battles the problem of climate change and global temperature rises. We’ve not yet reached peak emissions — carbon emissions from fossil fuels are expected to increase at least until 2025.  

Heavy industry and building sector processes will probably always produce some carbon emissions. Carbon capture, utilization, and storage offer a way to nip the emissions issue at the source, as long as they can be kept safely.   

A mix of carbon retention and technology development to improve captured carbon use could form an essential part of the new-look energy market. 

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