siliconindia | | JULY 20249a number of low-hanging fruits are ripe for picking. On the other hand, given the short-time uncontrollable characteristic of those power sources, it is difficult for them to stably provide electricity continuously. However, this is why the combination of CCS technology is vital for a secure and sustainable energy future with substantial reductions in carbon emissions.Deepak Pahwa, Chairman, Pahwa Group & Managing Director, Bry-Air, says,"Where carbon capture aids in arresting global warming by reducing industrial and thermal carbon emissions, our breakthrough concept of AWG aims at mitigating the water scarcity problem across the globe".How Can Financial and Regulatory Challenges in CCUS Be Overcome?A primary challenge is the substantial upfront cost associated with CCUS technology. Deploying CCS requires a considerable financial investment, covering everything from the setup and operational expenses of the plants to maintenance and other overhead costs. The overall expense is influenced by factors like the type of process, the separation technology used, methods of CO transportation, and the selection of storage sites. Additionally, the cost varies depending on the CO source, be it from the oil and gas sector, the cement industry, power generation, or other industries.To address the high initial costs, expanding and creating robust storage infrastructure for the long-term storage of captured CO is essential to making CCUS feasible. This involves identifying suitable geological formations for CO storage and developing the necessary infrastructure for its transport and storage. It includes building pipelines, injection wells, and comprehensive monitoring systems to ensure safe and secure storage.Another significant barrier is the lack of well-defined policy and regulatory frameworks. The absence of comprehensive policies and regulations specific to CCUS can impede its growth and deployment. Governments must establish favorable policies that incorporate carbon pricing mechanisms, offer financial incentives, and create supportive regulatory frameworks. Such measures will foster a constant and predictable business environment for CCUS. Also, international collaboration and coordination on policies and regulations can help tackle cross-border challenges and make sure a uniform approach to CCS implementation on a global scale.ConclusionCCUS has the potential to significantly cut emissions and is an essential for meeting global climate targets. Continued support and investment in CCUS can propel us towards a sustainable, low-carbon future, ensuring a healthier planet for generations to come.
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