Will Cleaner Coal Lead to Higher Prices?
Bloomberg : “Requiring the use of carbon capture and sequestration technologies at coal-fired power plants could increase the wholesale price of electricity between 70 percent and 80 percent, an Energy Department official said.”
Although the price of CCS technologies could eventually drop, the first generation could have a captured cost of carbon dioxide as high as $70-90 per ton for wholesale electricity production.
“Between fiscal years 2005 and 2014, the Energy Department has received around $7.6 billion in funding for development of CCS technologies in hopes of commercialization. Eight major demonstration projects are under Energy Department programs, most of which use the captured carbon dioxide for enhanced oil recovery.”
Julio Friedmann, deputy assistant secretary for clean coal at the Energy Department said “it would be difficult to reduce greenhouse gas emissions and address climate change without the use of CCS technologies.”
Friedman: “It’s a technology that we simply need to have.”
Crossposted at Wonk Wire .