$2.3T Needed from Now to 2050 for Point Source Capture Technologies
Key Ideas
- Annual investments of $60B-$140B are required for Point Source Capture (PSC) technologies to meet net-zero goals by 2050.
- PSC can deliver 2.5-4 GtCO2/year towards the 7-10 GtCO2/year needed, with Direct Air Capture (DAC) filling the gap.
- Various technologies like solvents, solid adsorbents, membranes, and cryogenic systems are being developed for PSC with increasing investment.
- There's a need for government support like carbon pricing systems to drive the adoption of PSC and reduce emissions from hard-to-abate sectors.
Point Source Capture (PSC) technologies are crucial in reducing emissions from hard-to-abate sectors like natural gas, blue hydrogen, power generation, refineries, cement, iron and steel, among others. An annual investment of $60B-$140B, totaling $2.3T by 2050, is needed to achieve net-zero goals set by the Paris Agreement. PSC aims to capture 2.5-4 GtCO2/year, falling short of the required 7-10 GtCO2/year, leading to the need for Direct Air Capture (DAC) to bridge the gap. Various technologies such as solvents, solid adsorbents, membranes, and cryogenic systems are being developed for PSC, with a focus on cost-effectiveness and scalability. Companies like Carbon Clean and Svante are innovating in this space to reduce costs and enhance efficiency. Government support through carbon pricing systems is seen as essential to drive adoption and reduce emissions effectively. Despite challenges like high costs and industry reluctance, the potential of PSC in emission reduction is significant, making it a critical component in the fight against climate change.
Topics
Projects
Climate Change
Technology
Investment
Venture Capital
Carbon Capture
Emission Reduction
Business Models
Market Dynamics
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