Not according to this study (linked article below) using computer models.
There is a lot of interesting information in the comments beneath the article. Among the comments was a link to this government paper:
The UK Carbon Capture Usage and Storage deployment pathway: an action plan (publishing.service.gov.uk) Here is a quote from page 16 of the report:
A CCUS project, incorporating capture, transport and storage infrastructure, takes between five and eight years from commencing detailed engineering work to operation. Therefore to support meeting our ambition of having the option of deploying CCUS at scale during the 2030s, subject to costs coming down sufficiently, we can use the 2020s to test and develop CCUS in the UK context.
A successful proposition will be one that is supported by local and regional communities, authorities and businesses. It will need to be consistent with the market based framework set out by Government and include the wider industrial and economic benefts of establishing CCUS in the place. (Page 30)
To help industry decarbonise, we have launched an Industrial Energy Transformation Fund, worth up to £315 million. This will provide funding for transformative decarbonisation investments, potentially including fuel switching and carbon capture. (Page 33)
BEIS analysis shows that the levelised cost of electricity (LCOE) for a frstof-a-kind combined cycle gas turbine (CCGT) with post-combustion carbon capture and storage could be around £75/MWh, for a plant commissioning in 2025. The LCOE of a plant of this type was previously estimated to be £110/MWh52 (Page 36)
The question that sticks in my mind is - how could any manufacture be made cheaper by adding a whole extra plant to it? To see the cost of wind turbine electricity have a look at yesterday's link to the video by Paul Burgess. It is close to £100/MWh. I would be very sceptical about the figure of £75/MWh quoted by the government.
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