Technology to trap carbon emissions from coal- and gas-fired power plants and store it underground has the potential to be cost-competitive with other green energy in the U.K. by the early 2020s, a government adviser said.
Australia more than halved its projection for carbon prices in the year starting July 2015 to A$12.10 ($12) a metric ton as the European Union, its planned partner in a cap-and-trade system, struggles with low prices.
President Barack Obama is being pressed by opponents of the Keystone XL pipeline to tie any approval to measures that would curb climate change, reflecting mounting pressure on the administration to mitigate the project’s impact if it goes forward.
JinkoSolar Holding Co. and First Solar Inc. were among solar companies that surged after four U.S. senators introduced legislation that would let renewable- energy projects qualify for a tax-advantaged corporate structure currently used by oil, natural gas and pipeline projects.
Skyonic Corp., a carbon-capture technology developer with investors including BP Plc and ConocoPhillips, is about to obtain about $119 million to fund its first commercial project, at a Texas cement plant.
Investors in clean-energy projects will need to work within national policy “bubbles” because a global carbon price will remain elusive for years, according to David Hone, Royal Dutch Shell Plc’s climate adviser.