The latest Global CCS Institute report reveals that carbon capture and storage (CCS) technologies are becoming more cost-effective amid rapid global expansion. As of 2024, over 620 CCS projects have been identified globally, with 50 operational and 46 under construction. It represents a pipeline capacity of over 400 million tonnes per annum (Mtpa) of CO₂ captured.
The cost of capturing CO₂ using monoethanolamine (MEA) solvents has dropped to approximately $77.26 per tonne for a typical 1 Mtpa facility with 90% capture efficiency. Notably, the cost of capture from coal-fired sources has decreased steadily over the past decade, with plants like Petra Nova and Boundary Dam helping set new benchmarks.
Capture costs from natural gas-fired sources are also trending downward. The recently deployed Glacier Entropy plant exemplifies this shift. It demonstrates lower capture costs and technological feasibility for lower-concentration CO₂ streams.
Technological improvements in capture efficiency, especially beyond the 90% standard, are achievable with modest increases in cost. Modeling shows that moving from 90% to 95% capture adds minimal cost per tonne, making deeper decarbonization more viable.
As economies of scale and innovation continue, CCS is poised to become a cornerstone of net-zero strategies across hard-to-abate sectors like cement, steel, and hydrogen production. While costs vary by project type and maturity, the downward trend is clear—and essential—for climate targets.