Obstacle Identification and Analysis to the Commercialization of CCUS Technology in China under the Carbon Neutrality Target
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 commerciali...
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| Format: | Article |
| Language: | English |
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MDPI AG
2022-05-01
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| Series: | Energies |
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| Online Access: | https://www.mdpi.com/1996-1073/15/11/3964 |
| _version_ | 1797493570272231424 |
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| author | Yanting Sun Yanbin Li Feng Zhang Chang Liu |
| author_facet | Yanting Sun Yanbin Li Feng Zhang Chang Liu |
| author_sort | Yanting Sun |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-03-10T01:21:54Z |
| format | Article |
| id | doaj.art-653ed81690624f1c8529b08f7e6a4e1d |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-03-10T01:21:54Z |
| publishDate | 2022-05-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-653ed81690624f1c8529b08f7e6a4e1d2023-11-23T13:58:04ZengMDPI AGEnergies1996-10732022-05-011511396410.3390/en15113964Obstacle Identification and Analysis to the Commercialization of CCUS Technology in China under the Carbon Neutrality TargetYanting Sun0Yanbin Li1Feng Zhang2Chang Liu3School of Economics and Management, North China Electric Power University, Beijing 102206, ChinaSchool of Economics and Management, North China Electric Power University, Beijing 102206, ChinaSchool of Economics and Management, North China Electric Power University, Beijing 102206, ChinaSchool of Economics and Management, North China Electric Power University, Beijing 102206, ChinaAs 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.https://www.mdpi.com/1996-1073/15/11/3964CCUS technology commercializationVague-DANP methodcomprehensive obstacle systempolicy implications |
| spellingShingle | Yanting Sun Yanbin Li Feng Zhang Chang Liu Obstacle Identification and Analysis to the Commercialization of CCUS Technology in China under the Carbon Neutrality Target Energies CCUS technology commercialization Vague-DANP method comprehensive obstacle system policy implications |
| title | Obstacle Identification and Analysis to the Commercialization of CCUS Technology in China under the Carbon Neutrality Target |
| title_full | Obstacle Identification and Analysis to the Commercialization of CCUS Technology in China under the Carbon Neutrality Target |
| title_fullStr | Obstacle Identification and Analysis to the Commercialization of CCUS Technology in China under the Carbon Neutrality Target |
| title_full_unstemmed | Obstacle Identification and Analysis to the Commercialization of CCUS Technology in China under the Carbon Neutrality Target |
| title_short | Obstacle Identification and Analysis to the Commercialization of CCUS Technology in China under the Carbon Neutrality Target |
| title_sort | obstacle identification and analysis to the commercialization of ccus technology in china under the carbon neutrality target |
| topic | CCUS technology commercialization Vague-DANP method comprehensive obstacle system policy implications |
| url | https://www.mdpi.com/1996-1073/15/11/3964 |
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