Carbon-capture technologies being earmarked for coal-fired electric plants could increase costs to consumers by 35 percent.
At least that is the target set by the Department of Energy as it prepares to disburse $55 million in technology funding.
Carbon capture holds the promise of clean coal
Despite efforts already underway with carbon capture in places such as Canada and Norway, the department is setting a long-term 8 to 10 years target of widespread deployment of the technology.
The goal is to “support the development of technologies that can remove 90 percent of the CO2 in a (coal plant) flue gas stream at no more than a 35 percent increase in the cost of electricity,” said Energy Secretary Steve Chu.
Carbon capture is a key part of the recipe to reduce global warming. About 50 percent of the nation’s electricity comes from coal and about 20 percent of its greenhouse gas emissions. Coal reserves are plentiful and plants are expected to stay on line for decades to come.
Coal also is a key ingredient in China’s economic expansion with new plants going in every week.
Earlier this month, the International Energy Agency projected the world will need thousands of carbon capture projects by 2050.
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