Summary/Abstract
To meet the 2◦C target and, in particular the 1.5◦C target defined in the Paris Agreement, rapid scaling-up of BECCS (Bio-Energy with Carbon Capture and Storage) and other negative emissions technologies (NETs) is essential. Recent research on BECCS has mainly focused on biophysical and sustainability limitations to multi-Gigatonne deployment in the latter half of this century. However, this paper focuses on the critical short-term opportunities for immediate deployment, considering solely existing bio-energy facilities in Sweden as a case study. The paper shows that the immediate potential for BECCS in this country amounts to 20 Mt annually. This corresponds to 39% of total GHG emissions in 2014 in Sweden. The current costs for implementing BECCS at this level is compared to the present carbon taxes and other incentives. The paper then shows that including BECCS in the carbon tax incentive mechanism at current incentive levels would yield 16.7 Mt of negative emissions annually with an estimated societal cost saving of more than 600 Me annually, when compared to current incentive marginal abatement costs. The paper concludes that Sweden is ideally positioned for immediate BECCS deployment.