As per the IEA (International Energy Agency), Carbon Capture and Storage (CCS) is a key technology, for reducing carbon dioxide emissions from coal based power-plants and industries to mitigate the adverse effects of global warming. Coal use has doubled in the past 30 years and will keep growing, according to the IEA. This is particularly the case with fast-growing economies such as China and India, which have significant power demands, as they grow their manufacturing sectors and bring electricity into rural homes for the first time.
Experts estimate that greenhouse gases in the atmosphere need to be reduced by as much as 80% in a relatively short period, to avoid the severe impacts of climate change. Below is IEA’s blue map scenario published in October 2009, CCS is estimated to reduce about 20% of the total global greenhouse emissions within the next four decades.
On the other hand, demand for energy in the world is set to double in the next two decades due to the rising population and growing prosperity. According to Oak Ridge National Laboratory (U.S.), in the year 2010, China's emissions rose 10% and India's 9% in a year. Together China and India made the biggest contribution to a global leap of 6%, making 2010 "by far the record year" for these emissions.
In India, the energy-consumption, largely from coal, is estimated to increase by 6-7% annually, which would result into making the country one of the top three emitters of CO2
“For this, we have to focus on clean coal technology, better investment decisions and environmental mitigation measures.”
- Jairam Ramesh (Former Minister for Environment and Forests,
Government of India)
CCS technology will play a very vital role in reducing man-made carbon dioxide emissions from energy resource plants across the world drastically. Besides earning carbon credits by reducing on-going business and environmental impact, carbon capture has many other commercial benefits as well. CO2
passed through algae farms can be used to grow algae, which can be used for creating bio or organic fuels, bio mass/agricultural or cattle feed and nutraceuticals. Pure CO2
can also be used to make useful products like hydrocarbons, ethanol, methanol, bicarbonates and bio-plastics.