全球能源转型系列：全球碳捕获和储存

1、Global Research15 May 2020Global Energy Transition Call SeriesGlobalExpert Call: Global carbon capture & storage; Slide deck & transcriptWe hosted a call with Global CCS InstituteWe hosted a call with Guloren Turan, General Manager at Global CCS Institute. On the call we discussed The Institutes lat

2、est Global Status of CCS report which highlights the global carbon capture and storage project pipeline, regulatory and policy developments, and key milestones from the last 12 months. The call was part of our ongoing UBS Energy Transition Call Series which aims to deepen clients understanding of th

3、e on-going energy transition. To schedule a call with Jon Windham click here.Key takeaways from the presentationThe views expressed below are those of the speaker and do not necessarily reflect those of UBS.Carbon capture & storage (CCS) is increasingly being attached to sectors w/ hard to abate emi

4、ssions. CCS can address power plants, industrial processes, and direct air capture. In order to achieve net zero emissions CO2 capture will be required in some capacity.Currently 51 large scale facilities globally: 19 operational, 4 in construction, and 28 in various development stages. 19 operation

5、al projects capturing 40mn tons/CO2 annually. An estimated 2.8bn tons annual CO2 capture is needed globally by 2050 (approx. 2,000 facilities). To date 260mn cumulative tons of CO2 have been captured and permanently stored.Most existing projects are in industries where cost of CO2 capture is low suc

6、h as natural gas processing. New applications in advanced development include waste incineration and cement production.U.S. market has abundant and well defined geological storage, supportive federal policies, and state policies. 45Q tax credit was bipartisan effort and viewed as the most progressiv

7、e incentive globally. Current incentive levels provide tax credit of$50/ton for geological storage, and $35/ton for enhanced oil recovery for 12 years. The Institute estimates that w/ carbon incentive of $40/ton it is economic to capture 400-450mn tons of annual CO2 globally.Direct air capture curre

8、nt cost estimated at $300-800 EUR/ton.Slide deck & transcript enclosedIn this note we republish the slide deck from the call, courtesy of Global CCS Institute. A transcript from our call follows the slide deck.EnergyEquitiesJon Windham, CFAAnalyst HYPERLINK mailto:jon.windham jon.windham+1-617-478-4

9、711Daniel Ford, CFAAnalyst HYPERLINK mailto:dan.ford dan.ford+1-212-713-2224Sam Arie Analyst HYPERLINK mailto:sam.arie sam.arie+44-20-7567 1107William Grippin, CFAAnalyst HYPERLINK mailto:william.grippin william.grippin+1-617-478 4740 HYPERLINK /investmentresearch /investmentresearchThis report has

10、been prepared by UBS Securities LLC. ANALYST CERTIFICATION AND REQUIRED DISCLOSURES BEGIN ON PAGE 50. UBS does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivi

11、ty of this report. Investors should consider this report as only a single factor in making their investment decision.May Call ScheduleRegistration links below, all calls held at 11am Eastern Time, except as notedEnergy Transition Series call scheduleMay 13: EV infrastructure w/ Alliance for Transpor

12、tation ElectrificationMay 14: Hydrogen energy at scale w/ Green Hydrogen CoalitionMay 19: Role of storage in the energy transition w/ Simpliphi Power: https:/bit.ly/2YkyR0BMay 20: Commercial EV market outlook w/ GreenPower Motor: https:/bit.ly/3frQK3MMay 21: Vanadium flow batteries w/ Invinity: http

13、s:/bit.ly/35nAf42May 27: 5 minute EV charging w/ StoreDot: https:/bit.ly/3bW0CADMay 28: Long duration grid storage w/ Form Energy: https:/bit.ly/3aQTgNjMay 29: Role of software in the energy transition w/ Codibly: https:/bit.ly/3d73GtSMay Call DetailsEnergy Expert: Overview of utility-led EV infrast

14、ructure at the state level w/ Alliance for Transportation Electrification. Wednesday, May 13, 2020 11:00am ET.Energy Expert: Hydrogen energy at scale w/ Green Hydrogen Coalition. Thursday, May 14, 2020 11:00am ET. On the call we discussed the potential for green hydrogen to be harnessed as an energy

15、 source to drive decarbonization across sectors.Energy Leaders: The role of distributed energy storage in accelerating the energy transition w/ Simpliphi Power. Tuesday, May 19, 2020 11:00am ET. Simpliphi Power develops safer lithium-based on & off grid battery storage products which have improved c

16、ycling capabilities compared to traditional lithium ion storage. On the call we will discuss the role of distributed energy storage in accelerating the energy transition. Pre-register here for access code and calendar reminder.Energy Leaders: Commercial EV market outlook w/ GreenPower Motor. Wednesd

17、ay, May 20, 2020 11:00am ET. GreenPower Motor develops electric vehicles for commercial markets. On the call we will discuss the market outlook for commercial EVs. Pre-register here for access code and calendar reminder.Energy Leaders: Vanadium flow batteries w/ Invinity. Thursday, May 21, 2020 11:0

18、0am ET. Invinitys vanadium flow batteries offer non-degrading energy storage and have been deployed worldwide alongside renewables as an alternative to conventional lithium-ion batteries. Pre-register here for access code and calendar reminder.Energy Leaders: 5 minute EV charging what does it take?

19、w/ StoreDot. Wednesday, May 27, 2020 11:00am ET. Store dot develops fast-charging lithium ion battery technology capable of enabling an EV to fully charge in 5 minutes. On the call we will discuss the market for EV fast charging. Pre- register here for access code and calendar reminder.Energy Leader

20、s: Long duration grid storage w/ Form Energy. Thursday, May 28, 2020 11:00am ET. Form energy is developing low-cost, long- duration sulfur based battery storage systems intended to provide months-long energy storage and enable replacement of goal and gas generation. Pre- register here for access cod

21、e and calendar reminder.Energy Leaders: Role of software in the energy transition w/ Codibly. Friday, May 29, 2020 11:00am ET. Codibly provides software to optimize energy use & management for a variety of end-markets & assets. On the call we will discuss the role of software in the energy transitio

22、n. Pre-register here for access code and calendar reminder.Video replays from previous callsEngaging corporates on climate change w/ UBS Asset Management: linkU.S. renewable cost, performance, and value w/ LBNL: linkClimate change impacts w/ EPA: linkEV fleet charging as a service w/ AMPLY: linkCase

23、lla Waste (CWST) Future of recycling: linkThe trillion dollar EV opportunity w/ Chanje: linkTranscripts & slide decks from previous callsEnergy StoragePotential for batteries to provide peaking capacity w/ NREL: linkRate design impact on behind the meter storage w/ LBNL: linkThe economics of grid st

24、orage w/ Ascend Analytics: linkThe US storage market w/ SEPA: linkPumped hydro energy storage w/ Absaroka Energy: linkIron flow batteries w/ ESS: linkVanadium flow batteries w/ UET: linkLiquid air energy storage w/ Highview Power: linkPotentially disruptive battery tech w/ Ionic Materials: linkScala

25、ble, safe, long-duration energy storage w/ Eos: linkFlywheel energy storage w/ Teraloop: linkResidential energy storage w/ Cinnamon Energy: linkGrid connected batteries w/ NantEnergy: linkScalable plug & play battery storage w/ SolPad: linkWind, solar and other renewable generationU.S. residential s

26、olar trends w/ EnergySage: linkUtility scale solar development w/ Intersect Power: linkGlobal renewables outlook w/ IEA: linkWind & solar growth, cost, & value w/ LBNL: linkEvolution of renewable PPAs w/ RES Group: linkDigitally enabled PPAs w/ WePower: linkU.S. distributed solar trends w/ Lawrence

27、Berkeley Labs: link1Q19 U.S. wind market update w/ AWEA: linkCost competitiveness of US wind & solar w/ Lawrence Berkeley Labs: linkU.S. solar outlook w/ NREL: link1Q19 solar market update w/ NREL: linkOff-shore wind w/ BOEM: linkUsing data to drive down wind costs w/ NREL: linkDistributed wind gene

28、ration w/ American Wind: linkThe outlook for US wind demand w/ AWEA: linkOutlook for UK waste-to-energy w/ Tolvik: linkCommunity solar w/ Ecogy Energy: linkThermal solar & storage w/ SolarReserve: linkRenewable cost decline trends & outlook w/ NREL: linkAssessing solar project risk w/ kWh Analytics:

29、 linkAirborne wind energy w/ Ampyx Power: linkHigh altitude kite wind power w/ SkySails: linkTethered aircraft wind energy w/ Twing Tec: linkFlexible CIGS solar modules w/ Sunflare Solar: linkNuclear innovation w/ TerraPower: linkNuclear trends and outlook w/ World Nuclear Association: linkSolar sys

30、tem modeling & design w/ Aurora Solar: linkThe Energy TransitionEvolving US energy system w/ NREL: linkLong-term forecast for energy transition w/ DNVGL: link2019 Annual Energy Outlook w/ EIA: linkThe geopolitics of the energy transition w/ IRENA: linkCorporate renewable demand w/ RMI: linkAviation

31、industry climate change strategy w/ IATA: linkFuture of alternative fuel in the aviation industry: linkTransactive energy systems w/ SEPA: linkClean energy portfolio economics w/ RMI: linkClean energy portfolios and stranded asset risk w/ RMI: linkCommunity choice aggregation w/ NREL: linkCarbon cap

32、ture and storage w/ Global CCS Institute: linkNatural gas powered vehicles w/ NGVAmerica: linkBlockchain systems for the energy sector w/ Electron: linkElectric Vehicle ChargingEV fleet charging as a service w/ AMPLY Power: linkThe trillion dollar EV opportunity w/ Chanje: linkThe bull case for EV p

33、enetration w/ ReThinkX: linkWireless EV charging w/ Momentum Dynamics: linkWireless EV charging update w/ Momentum Dynamics: linkWireless EV charging w/ HEVO: linkEV fast charging w/ EVgo: linkEV infrastructure w/ eCarUp: linkOS for EV charge networks w/ GreenFlux: linkWireless EV charging w/ WiTric

34、ity. linkSmart EV charging w/ eMotorWerks: linkSmart HomeSmart home energy w/ Sense: linkClimate ChangeClimate change w/ UN: linkClimate assessment w/ EPA: linkClimate change public opinion w/ Yale: linkEngaging corporates on climate change w/ UBS Asset Management: linkManagement callsSolaredge (SED

35、G) Diversification strategy: linkEnphase (ENPH) Future of inverter technology: linkGenerac (GNRC) Solar + storage: linkWaste Connections (WCN) People & culture: linkWaste Connections (WCN) Pricing strategy: linkWaste Management (WM) Volume outlook: linkWaste Management (WM) People First foccus: link

36、Republic Services (RSG) Talent retention: linkAdvanced Disposal (ADSW) Market selection: linkCasella Waste (CWST) Future of recycling: linkCasella Waste (CWST) Northeast waste market: linkHannon Armstrong (HASI) Behind the meter opportunity: linkPrevious conference callsDateGuest speakersTopic28-Apr

37、-20esVoltaEnergy storage business outlook23-Apr-20EnergySageU.S. residential solar trends16-Apr-20Mobility HouseIntegrating EVs and the grid14-Apr-20Motive Power systemsCommercial fleet EV conversion8-Apr-20Boston Consulting GroupImpacts of COVID-19 on utilities7-Apr-20EnerSys/OutBackBattery-based r

38、enewable energy systems6-Apr-20ECOLPFAS impacts on waste industry2-Apr-20Blink chargingCloud based EV charge networks1-Apr-20Akin GumpThe tax equity market26-Mar-20UBS Analyst: Dan Ford & Jon WindhamThe U.S. grid to 203025-Mar-20Commonwealth Fusion SystemsPath to commercial fusion energy20-Mar-20App

39、arentOptimizing renewables integration18-Mar-20Agora EnergiewendeEuropean energy transition13-Mar-20AWEAU.S. wind market update12-Mar-20Azure PowerUtility scale solar development in India11-Mar-20NuvveEV vehicle to grid technology10-Mar-20ITERCommercial scale fusion energy28-Feb-20EV ConnectCloud ba

40、sed EV charge management27-Feb-20Global CCS InstituteStatus of carbon capture & storage26-Feb-20Absaroka EnergyPumped hydro energy storage25-Feb-20Intersect PowerUtility scale renewables development24-Feb-20TerraPowerAdvanced nuclear energy systems14-Jan-20GreenFluxOS for EV charge networks17-Dec-19

41、IEAGlobal renewables outlook12-Dec-19Waste ConnectionsPeople & culture10-Dec-19SolpadResidential battery storage9-Dec-19World Nuclear AssociationGlobal nuclear power trends5-Dec-19Aurora SolarDistributed solar planning & design4-Dec-19Waste ManagementPeople First focus4-Dec-19Sunflare SolarFlexible

42、CIGS solar module technology3-Dec-19Casella WasteDeep dive on recycling21-Nov-19LBNLWind & solar growth, cost, and value19-Nov-19GeneracResidential solar & storage18-Nov-19ChanjeEV opportunity for proactive utilities14-Nov-19LBNLGrid connected PV trends13-Nov-19NGVAmericaNatural gas vehicles15-Oct-1

43、9SkysailsHigh altitude kite wind power14-Oct-19ElectronBlockchain systems for the energy system11-Oct-19Lawrence Berkeley National LaboratoryRate design for behind the meter storage7-Oct-19RMIClean energy portfolios and stranded assets4-Oct-19WePowerDigitally enabled PPAsDateGuest speakersTopic3-Oct

44、-19NRELBatteries to provide peaking capacity2-Oct-19AMPLY PowerEV fleet charging20-Sep-19EnphaseFuture of solar inverter technology17-Sep-19RES GroupThe evolution of renewable PPAs12-Sep-19Momentum DynamicsWireless EV charging11-Sep-19NRELU.S. solar market update23-Jul-19UBS AnalystPower, Utilities,

45、 and Alt Energy 2Q preview23-Jul-19NRELUsing data to drive down wind cost18-Jul-19Twing TecAirborne wind energy16-Jul-19UBS Asset ManagementEngaging with corporates on climate change11-Jul-19Key Capture EnergyBuilding large scale energy storage projects10-Jul-19Ampyx PowerTethered wind energy system

46、s8-Jul-19kWh AnalyticsAssessing solar project risk25-Jun-19NantEnergyZinc air energy storage19-Jun-19Cinnamon EnergyResidential battery storage14-Jun-19Global CCS InstituteGlobal carbon capture and storage trends13-Jun-19IRENARenewable cost decline potential7-Jun-19AWEAU.S. wind market update21-May-

47、19IEAGlobal energy and emissions trends10-May-19NRELCommunity choice aggregation30-Apr-19NRELU.S. solar market outlook26-Apr-19RMIClean energy portfolio economics25-Apr-19Yale Program on Climate ChangeClimate change public opinion16-Apr-19eMotorWerksEV grid management15-Apr-19WiTricityWireless EV ch

48、arging11-Apr-19TeraloopKinetic energy storage29-Mar-19eCarUpEV charging28-Mar-19HASIBehind the meter opportunity22-Mar-19SEPATransactive energy systems21-Mar-19NEC Energy StorageLithium ion battery storage20-Mar-19EvgoEV fast charging15-Mar-19IATAAirline climate change impacts14-Mar-19SEDGDeep dive

49、on diversification strategy8-Mar-19RMIEconomics of zero energy homes5-Mar-19EOS StorageLithium ion battery alternatives28-Feb-19American WindDistributed wind power27-Feb-19FabriqEnergy efficiency26-Feb-19EPA4th National Climate Assessment25-Feb-19EIA2019 Annual Energy Outlook20-Feb-19CorPower OceanW

50、ave energy12-Feb-19IRENAGeopolitics of the energy transitionDateGuest speakersTopic22-Jan-19NRELElectrifying the US energy system22-Jan-19UBS Analyst4Q18 earnings preview9-Jan-19Rocky Mountain InstituteCorporate demand for renewables8-Jan-19AmpionCommunity solar4-Jan-19UBS Global AnalystChina Recycl

51、ing restrictions19-Dec-18UN working group on climate changeGlobal warming mitigation & impacts13-Dec-18UBS AnalystUS demand for new generation capacity13-Dec-18Ascend AnalyticsEconomics of grid battery storage7-Dec-18American Wind Energy Association2019 US wind outlook & trends6-Dec-18RSG management

52、Talent Management3-Dec-18WM managementVolume outlook30-Nov-18DNVGLEnergy outlook to 205029-Nov-18Momentum DynamicsHigh powered wireless EV charging28-Nov-18FerroampSmart home energy devices20-Nov-18Smart Electric Power AllianceTrends in U.S. battery storage market16-Nov-18Ice EnergyIce storage for p

53、eak load reduction9-Nov-18PolyJouleInnovative mass market battery storage2-Nov-18Bureau of Ocean Energy ManagementU.S. offshore wind market26-Oct-18SunnovaLargest private residential solar company22-Oct-18UBS Global AnalystGlobal renewable energy trends18-Oct-18Lawrence Berkeley Natl LabsTrends in t

54、he US wind & solar markets18-Oct-18UBS Analyst3Q18 earnings preview, Utility & Alt. Energy16-Oct-18Highview PowerLiquid air energy storage technology12-Oct-18American Wind Energy AssociationUS wind market Q&A11-Oct-18SolarReserveSolar & integrated storage developer10-Oct-18Ecogy SolarDistributed sol

55、ar developer9-Oct-18ReThink XEV impacts on global energy systems5-Oct-18HEVOWireless EV charging4-Oct-18UETGrid scale flow batteries25-Sep-18TolvikUK & Ireland Waste-to-Energy outlook19-Sep-18WCN managementFocus on MSW pricing strategy18-Sep-18CWST managementNew England waste market dynamics17-Sep-1

56、8ORA managementLong-term growth strategy13-Sep-18ESS Inc.Grid scale flow batteries12-Sep-18NRELUS solar & storage markets10-Sep-18ADSW managementMarket selection strategy6-Sep-18SenseSmart home energy devices28-Aug-18Ionic MaterialsHigh performance battery materials22-Aug-18Halo EnergyDistributed wi

57、nd generation OEM21-Aug-18UBS Global AnalystChina Recycling restrictions20-Aug-18Sistine SolarSolar module aestheticsDateGuest speakersTopic16-Aug-18TridentWindsCA floatingoffshore winddeveloper13-Aug-18UBS Global AnalystEU wind OEMs sector launch19-Jul-18UBS Global AnalystTrade war implications11-J

58、ul-18American Wind Energy AssociationUS wind market26-Jun-18Smart Electric Power AllianceUS solar market7-Jun-18UBS Global AnalystGlobal renewables outlook4-Jun-18UBS Global AnalystChina Recycling restrictions24-May-18UBS AnalystImplications of CA solar mandates7-May-18Smart Electric Power AllianceU

59、tility integration of Electric Vehicles27-Apr-18UBS AnalystOffshore wind outlook28-Mar-18IRENAUS energy storage marketThis presentation was produced solely by Global CCS Institute. The opinions expressed herein do not necessarily reflect the views and opinions of UBS. UBS accepts no responsibility f

60、or the accuracy, reliability or completeness of the information and will not be liable either directly or indirectly for any loss or damage arising out of the use of this presentation or part thereof.Reproduced with permission.Figure 1: Slide 1Source: GLOBAL CCS INSTITUTEFigure 2: Slide 2Source: GLO