Advancing carbon capture in hard-to-abate industries: technology, cost, and policy insights

Abstract

AbstractIndustrial emissions are significant and need to be addressed in the fight against climate change. To achieve carbon emission reduction targets in line with climate change policies while maintaining the competitiveness of the industry, hard-to-abate sectors are exploring efficient carbon reduction technologies and striving to reduce associated costs. Carbon capture technology presents a large-scale CO2 reduction solution with immense potential. In promoting the application of carbon capture in hard-to-abate industries, it is essential to comprehensively analyze the feasibility and economics of carbon capture technology. This paper conducts a review of the technical feasibility and economics of carbon capture technologies in several industrial sectors, namely iron and steel, cement, and coal chemical industries. A vast amount of data on the costs of industrial carbon capture technologies has been gathered for comparison. This study also specifically addresses policy incentives that have been discussed and are currently being implemented to cut costs and promote industrial carbon capture projects. Graphical abstract