Cheap green energy kills CO2 capture and storage projects

CO2 emissionsLow energy costs from renewable energy sources (RES) will probably end carbon capture and storage projects even for heavy industry. The carbon dioxide capture and storage aims at reducing pollution and limiting harmful effects on the climate. Technology was an option for big players, such as coal-fired power plants, which are one of the major sources of pollution.

In recent years, however, developments in this area have lost momentum, and cheap green energy is likely to be the last nail in their coffin, the paper writes. Analysts also believe the technology has been hopeless, too expensive and, in fact, projects in this area have not been successful.

In the Netherlands, however, they still see opportunities for success. The port of Rotterdam is coordinated with Norway and plans to become the first European carbon capture and storage cluster. The aim is to capture the carbon footprint trapped in repositories located in coastal areas. According to many experts, carbon capture and storage is the only option for decarbonization of the heavy industry – steel, chemical plants and cement producers. They are highly energy-intensive but can not benefit directly from falling green energy prices.

However, this position can also be rebutted. For example, steel producers can use hydrogen to produce the electricity they need. This means that the development of green technologies remains without future efforts to capture carbon dioxide, although this is still the only option for the cement industry.

Environmentalists agree that technology should remain for industries for which there are no other options, but they also point out that this technology has no contribution to production.