The authors of the report estimate that the cost of electricity from power plants with CCS technology is 1.5-2 times more expensive than alternative renewable energy sources such as solar and wind. Also, according to the report, CCS project estimates often do not take into account the costs associated with transporting and storing carbon dioxide, and these costs could increase wholesale electricity prices by 95-175% if passed on to consumers.
CCS technology aims to capture most of the CO2 emissions from power plants before they exit the chimneys and store them underground.
Source: Ferra
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