Obstacle Identification and Analysis to the Commercialization of CCUS Technology in China under the Carbon Neutrality Target

Yanting Sun, Yanbin Li, Feng Zhang and Chang Liu
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Yanting Sun: School of Economics and Management, North China Electric Power University, Beijing 102206, China
Yanbin Li: School of Economics and Management, North China Electric Power University, Beijing 102206, China
Feng Zhang: School of Economics and Management, North China Electric Power University, Beijing 102206, China
Chang Liu: School of Economics and Management, North China Electric Power University, Beijing 102206, China

Energies, 2022, vol. 15, issue 11, 1-25

Abstract: As the largest emitter of carbon dioxide all over the world, China requires a rapid breakthrough and large-scale commercial application of carbon capture, utilization and sequestration (CCUS) technology to achieve the 2060 carbon neutrality target. However, the process of CCUS technology commercialization in China is quite slow. Firstly, an obstacle system with 15 factors is established based on a literature review and expert consultation, namely on economic, technical, political, market, and social obstacles. Secondly, taking into account the uncertainty and randomness inherent in subjective judgment, Vague set is introduced for the first time to improve the DEMATEL-ANP (DANP) method in order to analyze comprehensive importance and causal relationship of obstacles. According to the study, in advancing CCUS’s commercialization in China, economic obstacles are simply the tip of the iceberg, with the deeper reasons rooted in political obstacles. Specifically, seven critical obstacles are lack of standards and regulations, inadequate legal and regulatory framework, insufficient incentive policies, limited carbon dioxide conversion efficiency, high energy consumption, low rate of return on investments and low investment enthusiasm of enterprise. We conclude with a series of recommendations to address these obstacles, and these findings can be used as a guide for government regulation and business practice.

Keywords: CCUS technology commercialization; Vague-DANP method; comprehensive obstacle system; policy implications (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2022
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