According to Frost & Sullivan's TechVision team, Government and industrial stakeholder involvement will be key to CO2 emissions technology development.
The focus on a low carbon economy is highlighting the need to manage point source CO2 emissions. Emissions from any single stationary industrial source are high enough to quantify and capture, and provide more accountable stakeholders than with atmospheric CO2 capture. However, the tremendous costs involved in CO2 capture are understating the importance of developing more effective solutions.
"CO2 conversion technologies can help offset the capture cost, at least to a certain extent," said TechVision Research Analyst Lekshmy Ravi. "This is giving impetus to the carbon capture and utilisation (CCU) trend, which enables the use of CO2 as a potential revenue stream and will set stakeholders on the path toward the ideal of a zero carbon economy. The challenge for CO2 conversion products is in providing performances similar to, or better than, conventional products and in finding acceptance among customers."
'Point Source Carbon Dioxide (CO2) Management', recent analysis from Frost & Sullivan's TechVision subscription, provides insights on various capture and utilisation technologies and details innovators in the carbon management domain.
Government support in the form of suitable frameworks and regulatory policies will be vital to ensure the financial stability of carbon capture and sequestration/storage (CCS) projects.
"For instance, the depressed carbon prices in Europe, public opposition to onshore storage, and complexity of CCS projects have stalled committed public funding for projects in the region," noted TechVision Research Analyst Kowtham Kumar Kannadasan. "On the other hand, Canada, Australia and a few states in the US have well addressed regulations for carbon storage."
Adoption levels are set to improve as changing mindsets and commercial viability of applications like plastic from CO2 and algae farming using CO2 encourage technology development. Some of the major market players investing in the CCS space are the Linde Group (Germany), ENGIE (France), and Royal Dutch Shell plc (Netherlands).
Read the article online at: https://www.hydrocarbonengineering.com/the-environment/19102016/techvision-on-managing-point-source-co2-emissions/