Investment into lowering the cost of carbon capture is continuing to gain momentum, with the announcement from Harvard spurring researchers on with the promise of even lower costs. Keith told the Atlantic: “The main, near-term market is making carbon-neutral hydrocarbon fuels… We see this as a technology for decarbonising transportation.”
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The liquid is brought into the factory where it undergoes a series of chemical reactions to separate the base from the acid, before being frozen into pellets, slowly heated, and then converted into a slurry.įinally, the carbon dioxide is combined with hydrogen and converted into liquid fuels, including gasoline, diesel, and jet fuel.
The new method pulls air through ‘contactors’ and exposes it to an alkaline liquid. That’s why we think we have a reasonable possibility of scaling up.” Lead research author David Keith said: “What we’ve done is build a process that is – as much as possible – built on existing processes and technologies that are widespread in the world. Prices are expected to continue falling to below $100/kWh by 2025.Īccording to Greentech Media, if the price of carbon capture falls 12% per year, in line with the fall recorded by lithium ion batteries, this would put air carbon capture at less than $20 per metric ton by the 2040s, equivalent to an increase in gasoline prices of around 10% at current prices, or 25 cents a gallon. Over the past ten years or so, lithium ion batteries have fallen in cost by around 80%, with a Bloomberg New Energy Finance survey finding prices have dropped from around $1,000 in 2010 to current figures of around $200 per kWh.
Some industry members have expressed the hope that CCS will follow a similar cost trajectory as another golden child of the renewable industry: lithium batteries. The association also predicted that these costs will decline to €35–€50 ($40-$57) in the early 2020s, thanks to technological advancements.
The Carbon Capture & Storage Association (CCSA) estimated that the earlier CCS projects in the power sector would cost between €60–€90 per tonne of carbon dioxide abated, the equivalent of around $69-$103 per tonne.
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