With climate concerns escalating, many are considering how to limit global temperature increase to less than 1.5°C as set in the Paris Agreement in 2015. Most scenarios see a role for carbon capture and storage (CCS). Although much effort has been expended on studying CCS’s technical feasibility and cost, economic barriers exist, and very little CO2 has yet been sequestered. In this chapter, we summarize the economic aspects of CCS for stakeholders, taking into account where we are, how far we still have to go to meet our targets, and how we might get to these targets. This will entail a consideration of barriers to CCS, simple models to show the need for enabling policy, and an outline of CCS in the broader history of global climate concerns and modeling. Furthermore, we survey the pros and cons of existing and needed policies, an overview of existing commercial and prototype projects and policies, and CCS-focused economic modeling efforts. We conclude with recommendations for the path forward.
ISBN for host publication: 978-0-323-95941-4;