CO2 emissions are growing
Global CO2 emissions continue to grow (34 billion tonnes in 2011), despite all reduction efforts. This trend is expected to continue, with more than 1000 new coal-fired power plants planned worldwide. Although coal releases 60% more CO2 than natural gas, the low prices of coal and of carbon emission allowances make burning coal for electricity generation more profitable than using gas. The recent increase in coal-fired electricity generation is mostly due to economic growth in China and India and the shutdown of nuclear power plants in Europe and Japan.
Promising technology, but difficult economics
Carbon capture and storage (CCS) is a technology for removing CO2 from the exhaust gas of power plants and storing it underground or in the ocean. The cost of capturing and storing a tonne of CO2 ranges from US$23-92 (€17-68). This includes the cost of the energy needed…
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