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In order to meet the IPCC recommendation for an 80% cut in CO2 emissions by 2050, industries will be required to drastically reduce their emissions. To meet these targets, technologies such as carbon capture and storage (CCS) must be part of the economic set of decarbonisation options for industry. A systematic review of the literature has been carried out on four of the largest industrial sectors (the iron and steel industry, the cement industry, the petroleum refining industry and the pulp and paper industry) as well as selected high-purity sources of CO2 from other industries to assess the applicability of different CCS technologies. Costing data have been gathered, and for the cement, iron and steel and refining industries, these data are used in a model to project costs per tonne of CO2 avoided over the time period extending from first deployment until 2050. A sensitivity analysis was carried out on the model to assess which variables had the greatest impact on the overall cost of wide-scale CCS deployment for future better targeting of cost reduction measures. The factors found to have the greatest overall impact were the initial cost of CCS at the start of deployment and the start date at which large scale deployment is started, whilst a slower initial deployment rate after the start date also leads to significantly increased costs.
Leeson et al. (Mon,) studied this question.