Switched On

Pulling Carbon From the Sky: A Pricey Climate Solution

Oct 11, 2023

Sharon Mustri and Brenna Casey discuss direct air capture (DAC), its cost, and carbon removal methods. They explore the companies investing in DAC, carbon storage, and the future outlook for this technology. This episode provides insights from BNEF's research note on DAC and its market through 2050.

42:59

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Episode guests

Sharon Mustri

Brenna Casey

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Quick takeaways

Direct air capture (DAC) is a technology that involves removing carbon dioxide from the atmosphere, which is increasingly becoming a reality with clean tech companies pioneering the technology and larger companies investing in it to reach their net zero targets.

One of the major challenges of DAC is the high cost that needs to be brought down for scalability, while other considerations include the availability of 24/7 clean power, finding safer chemicals for DAC, and the use of land for DAC plants.

Deep dives

Direct Air Capture: Sucking Carbon Out of the Air

Direct air capture (DAC) is a technology that involves removing carbon dioxide from the atmosphere. DAC is increasingly becoming a reality, with clean tech companies pioneering the technology. Larger companies are also investing in DAC to reach their net zero targets. However, the cost of DAC is currently high, with prices averaging above $1,000 per ton of carbon removed. The market for DAC is dominated by a few major players, and significant funding is required to scale up the technology. There is potential for DAC to be used in hard-to-abate sectors like aviation and cement, but it is seen as a last resort for carbon removal, not a complete solution.

Introduction

4min

Direct Air Capture Technologies

22min

Challenges and Considerations for Carbon Capture Deployment

3min

Exploring Direct Air Capture and Carbon Mineralization

7min

The Changing Landscape of Carbon Removal Technology

6min

Financing and Future Outlook of Direct Air Capture Projects

4min

Removing carbon directly from the air might seem like a technology of the distant future, but ‘direct air capture’ is increasingly becoming a reality, especially as companies try to figure out how they’re going to meet their net-zero targets. How does DAC actually work, and how seriously should we take it compared to other means of carbon removal?

On today’s show, Dana sits down with Sharon Mustri and Brenna Casey from BNEF’s Sustainable Materials team. Together they take a look at the companies that are investing in DAC, the cost of this technology as well as its rival carbon removal methods, and how one can go about storing all that carbon once it’s been filtered and captured.

Today’s episode draws from the BNEF research note Direct Air Capture: Market and Cost Outlook, which assesses the DAC market through 2050.

Complimentary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app.

Links to research notes from this episode:

Direct Air Capture: Market and Cost Outlook - https://www.bnef.com/insights/32021

Amazon, Microsoft Boost Demand for Carbon Removal Tech - https://www.bnef.com/shorts/s16pkct0g1kw01

Occidental’s Big Buy May Alter Path of $150 Billion Market - https://www.bnef.com/insights/32055

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Switched On

Pulling Carbon From the Sky: A Pricey Climate Solution

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Direct Air Capture: Sucking Carbon Out of the Air

The Challenges and Considerations of Direct Air Capture

Companies' Role and Investment in Direct Air Capture

Policy Intervention and Future Outlook for Direct Air Capture

Remember Everything You Learn from Podcasts