Today, @BloombergNEF published its annual #CCS Market Outlook. The tl:dr is that, based on current announcements, CCS capacity is set to grow 6x by 2030. That’s 44% higher than what we expected last year. And it’s before you take #IRA into account. 🧵 with some key results: 
(2/10) CCS is diversifying. Most of the capture will be happening in #industry and #power, rather that natural gas processing. And most of the CO2 will be going in the ground, not to oil wells for EOR.
(3/10) We’ve been saying transport and storage infrastructure could be a bottleneck. *For the moment* it doesn’t look like a problem. There’s more unallocated capacity than capture projects looking for a home for their CO2. This can change quickly, given all that Midwest #ethanol
(4/10) The CCS leaderboard won’t change much. 🇺🇸 would have 48% of the world’s CCS capacity by 2030, similar to what it has today, 🇬🇧 14%, 🇨🇦 9%, 🇦🇺 5% and 🇨🇳 4%.
(5/10) I mentioned we haven’t taken #IRA into account. That's because this isn’t a forecast, it’s a sum of the announced capacity we’ve tracked. Projects have to have a site, owner, and disclosed capacity to be included here. The #IRA bump will show up in next year’s outlook.
(6/10) We will write something on how much extra CCS #IRA could incentivize. But we need to re-run a bunch of models first. Until then, take this as a conservative number for the US. Some of the announced projects will get cancelled, but more will be announced to fill the gap.
(7/10) #DAC is having its moment in the sun. Engineered carbon removal startups raised more than $1 billion in the past year, more than all the previous years combined.
(8/10) No, this isn’t going to save #coal. But it is going to give #cement and #petchems a route to net-zero that’s hard to find any other way.
(9/10) You can find more orderly thoughts in the public press release here: about.bnef.com/blog/global-ca…
(10/10) and BNEF clients can read the full report here: bnef.com/insights/29955
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