The European Union recently announced that starting in mid-June this year, Europe will promote the application of carbon capture and storage (CCS) technology for fossil fuel power plants.
According to its proposal, by 2015, all new fossil fuel-fired power plants in the European Union will adopt CCS technology, which will capture and store 90% of carbon emissions. In addition, the EU requires that all existing fossil fuel power plants by 2025 must be retrofitted with CCS technology. This plan was adopted on May 12 this year through the discussion of the EU Parliament’s Environment Committee.
Using CCS technology can prevent global warming. In the next five years, the EU plans to build 50 new fossil fuel power plants. The adoption of CCS technology will significantly reduce carbon emissions. However, the investment cost of adopting CCS technology is relatively high. The cost of adopting this technology and constructing the corresponding pipeline infrastructure to transport CO2 to the storage site is more than double the cost of power plant power generation equipment construction. With the continuous advancement of technology, by 2030, the investment and operating costs of coal-fired power plants using CCS technology will be only about 10% higher than the current power plants at comparable prices.
According to its proposal, by 2015, all new fossil fuel-fired power plants in the European Union will adopt CCS technology, which will capture and store 90% of carbon emissions. In addition, the EU requires that all existing fossil fuel power plants by 2025 must be retrofitted with CCS technology. This plan was adopted on May 12 this year through the discussion of the EU Parliament’s Environment Committee.
Using CCS technology can prevent global warming. In the next five years, the EU plans to build 50 new fossil fuel power plants. The adoption of CCS technology will significantly reduce carbon emissions. However, the investment cost of adopting CCS technology is relatively high. The cost of adopting this technology and constructing the corresponding pipeline infrastructure to transport CO2 to the storage site is more than double the cost of power plant power generation equipment construction. With the continuous advancement of technology, by 2030, the investment and operating costs of coal-fired power plants using CCS technology will be only about 10% higher than the current power plants at comparable prices.
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