PM strikes balance between energy security and emissions reduction
Monday 6 February 2017
CO2CRC welcomes the Prime Minister’s strong position on the need for secure, reliable, clean energy.
CO2CRC’S Chief Executive, Ms Tania Constable said, “Australia must play to our strengths. We need an energy system that is clean, reliable and available 24/7 at a reasonable cost.
“The Prime Minister’s technology neutral approach to Australia’s energy mix that includes a full suite of technologies all playing their part is prudent and pragmatic.
“We are glad that the Prime Minister has instructed ARENA and the Clean Energy Finance Corporation to look at a range of energy storage options for renewable energy and we are keen to see both agencies’ mandates open to include projects in carbon capture and storage.
“ARENA and the Clean Energy Finance Corporation have played important roles in driving the cost of renewables down in Australia and there is scope for them to be the catalyst in cost reduction for carbon capture and storage.
“To future proof Australia’s energy security, while meeting emissions reduction commitments, carbon capture and storage will be a key technology,” said Ms Constable.
Carbon capture and storage enables high energy industries to operate cleanly. It is the only technology that can reduce the emissions of steel, chemical, fertiliser and cement production, as well as natural gas processing and coal. There are now 15 fully operational plants across these industries around the world, however, additional incentives are required to further drive down costs to ensure that we see carbon capture and storage rolled out in Australia.
With carbon capture and storage technologies operating on either gas or coal power generation plants, more than 98 percent of emissions can be captured. Long term planning, commitment and the right incentives will ensure that carbon capture and storage plays its part to reduce emissions.
To speak with Tania Constable contact:
Robert Hilkes, CO2CRC media, 0413 338 144, Robert.email@example.com
CO2CRC operates arguably the world’s best carbon storage research facility with more than $100m invested in understanding how carbon dioxide (CO2) behaves underground over the past decade. Through to 2020 a further $41m will be dedicated to fast-tracking storage research with the purpose of reducing the cost of CO2 monitoring work by tens to hundreds of millions of dollars over the life of a commercial carbon capture and storage program.