A bridge to a greener Greece - a realistic assessment of CCS potential
This report aims at identifying three possible pathways Greece may take to respond to its emission mitigation challenge through 2050. Unless the price of carbon remains at today’s levels, an unlikely prospect given current EU policy, CCS will become a major contributor to Greece’s efforts to meet its energy demands while at the same time attaining its climate policy targets.
To assess the impact of CCS on energy cost and GHG emissions levels, this report identifies three possible scenarios: No deployment of CCS, Constrained deployment and Full deployment. The latter scenario delivers not only the deepest emission cuts, but also the lowest electricity production costs. What is more, combining a Full deployment of CCS with biomass co-firing with coal allows the Greek power sector to become ‘carbon-negative’ by 2030, actually removing CO2 from the atmosphere by producing power.
On a plant-by-plant basis, this report calculates which power plants and industry GHG emission sources are viable CCS candidates, while making specific proposals regarding CCS application for particular units and suitable storage sites. Furthermore, it provides an overview of the current status of CCS potential in Greece, including relevant actors, the status of implementation of the CCS directive, and practical recommendations to decision-makers to assure timely deployment of CCS.
The result of this comparative exercise demonstrates that wide and timely deployment of CCS in both industry and energy sectors delivers optimal economic and environmental outcomes. By 2050, Full deployment of CCS - together with wide application of biomass co-firing - could lead to a ‘carbon negative’ electricity sector and a nearly carbon neutral industrial sector, paving the way for a sustainable Greek economy long into the future.