Profiting from CCS innovations: A study to measure potential value creation from CCS research and development

•Lacking a carbon market, potential cost reduction can reflect improved future profitability.•Extensive cost reductions are possible by implementing CCS technology innovations.•There is potential for cost reduction in all parts of the CCS chain.•Cost reductions in a few full-scale CCS implementations exceed research investments.•Value creation from large-scale CCS deployment by far exceeds research investments.