The CARMOF project aims to generate a real and cheap alternative to CO2 capture against climate change. Emission reduction must be a priority, but CO2 capture can also be an ally to be considered in the medium term.
Currently, the project results show a capture price slightly higher than the pollution right (€82.83/Tn Y-AVG – more info https://www.sendeco2.com/es/precios-co2). In order to prevent these prices from skyrocketing and in view of the debate on the global energy crisis, the Spanish government is considering, among other measures, requesting a maximum cost for CO2 emission allowances, a proposal that it is considering proposing to the European Commission.
In the graph below you can see how the price of polluting has skyrocketed since last year 2021, without stopping rising until today, tripling the figure since 2019:
CO2 EMISSION RIGHT €/Tn
According to an article recently published in the newspaper La Razón, “In order to achieve the European Union’s goal of reducing emissions by at least 40% in 2030 compared to 1990, the sectors included in the trading system must achieve a joint reduction in emissions of 43% in 2030 in relation to 2005 levels. To reach these levels, the annual reduction in emissions has gone from 1.74% during phase 3 (2013-2020) to 2.2% in the phase 4 (2021-2030).”
Carbon capture and utilization technologies can play an important role in facilitating the transition to renewable forms of energy while manufacturing useful products such as fuels or chemicals. The future costs of CO2 capture and storage could decrease as the technology advances and once they are used on a large scale. Further work on these processes is essential for the conservation of our planet.