Recent advances in CCUS: A critical review on technologies, regulatory aspects and economics

Carbon capture, utilization, and storage (CCUS) is a viable strategy for decarbonizing fossil-based power and industrial sectors and bridging technology for a long-term transition to a zero-emission future. CCUS has been recognized as the most effective method for lowering CO2 emissions. The accumulation of greenhouse gases in the atmosphere over the past few decades has directly contributed to the accelerated warming of the planet and the associated climatic shifts. Injecting CO2 into geological formations is one of the possible solutions identified in the last ten years to reduce the amount of CO2 released into the atmosphere. CCUS has the potential to play a significant role in reducing carbon dioxide emissions, however, various challenges need to be addressed to facilitate its widespread deployment. Overcoming the cost barriers, ensuring suitable storage sites, establishing regulatory frameworks, addressing public concerns, and integrating CCUS with existing energy systems are critical to the successful implementation of CCUS technologies. This review thoroughly explores the recent advancements in CCUS technology, implementation challenges, regulatory aspects, features, and economic analyses. Firstly, it provides a comprehensive overview of the current state of CCUS worldwide. Secondly, it examines the thorough analysis of the state of CCUS around the world, including its potential benefits, technological advancements, environmental impacts, and financial feasibility. In addition, the review covers the environmental impacts, economics, attributes, and feasibility criteria related to CCUS implementation were highlighted. Finally, the benefits and drawbacks of various methods were outlined, and critical issues and areas for potential future study were recommended. This comprehensive review provides crucial insights into the integration of CCUS across diverse sectors, exploring its technologies, energy needs, and economic dimensions, all directed towards the goal of achieving zero emissions. It thoroughly explores the future potential of emerging CCUS technologies, providing policymakers, researchers, and industry stakeholders with valuable knowledge to expedite development and make substantial contributions to global initiatives in mitigating climate change.