carbon capture technology cost-benefit analysis

blog.verde.ag article

The Economics of Carbon Capture: Costs and Benefits - Verde AgriTech - Blog (english)

https://blog.verde.ag/en/economics-carbon-capture/

The economics of carbon capture: costs and benefits. # The Economics of Carbon Capture: Costs and Benefits. In this article, we will analyze the costs and benefits of carbon capture technologies to better understand their economics. In this context, carbon capture technology is one such practice that has emerged as a potential solution to reduce greenhouse gas emissions and mitigate climate change. The capital costs associated with carbon capture technologies can be high. In addition to capital costs, there are also operational costs associated with carbon capture technologies. Despite the costs of implementing carbon capture technologies, there are also potential economic benefits. One factor that could impact the economics of carbon capture technologies is government regulation. ## Understand the economics of carbon capture technologies is essential to better implement them and help with climate change mitigation. While there are capital and operational costs associated with these technologies, there are also potential economic and social benefits to their implementation.

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sciencedirect.com article

Cost-benefit comparison of carbon capture, utilization, and storage retrofitted to different thermal power plants in China based on real options approach - ScienceDirect

https://www.sciencedirect.com/science/article/pii/S1674927820300927

# Cost-benefit comparison of carbon capture, utilization, and storage retrofitted to different thermal power plants in China based on real options approach. A trinomial tree model based on a real options approach was developed to evaluate the investment decisions on carbon capture, utilization, and storage (CCUS) retrofitted to the three main types of thermal power plants in China under the same power generation and CO2 emissions levels. This provides greater economic advantages than the other two plant types as their investment benefit is negative if the captured CO2 was used for enhanced water recovery (EWR), even if 45Q subsidies are provided. The 45Q subsidy policy reduced the critical carbon price, which determines the decision to invest or not, by 30.14 USD t−1 for the PC and IGCC power plants and by 15.24 USD t−1 for the NGCC power plants. Nevertheless, only when the subsidy reaches at least 71.84 USD t−1 and the period limit is canceled can all three types of power plants be motivated to invest in CCUS and used the capture CO2 for EWR.

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cmu.edu research

Towards improved cost evaluation of Carbon Capture and ...

https://www.cmu.edu/epp/iecm/rubin/PDF%20files/2021/Roussanaly%20et%20al_Cost…

Rubin g a SINTEF Energy Research, Trondheim, Norway b International Energy Agency, Paris, France c National Energy Technology Laboratory, Morgantown, WV, USA d IEAGHG, Cheltenham, United Kingdom e KTH Royal Institute of Technology, Stockholm, Sweden f Delft University of Technology, Delft, the Netherlands g Carnegie Mellon University, Pittsburgh, PA, USA A R T I C L E I N F O Keywords: Carbon Capture and Storage (CCS) Industry Techno-economic analysis Cost metrics Heat and power supply Retrofit CO2 transport and storage Technology maturity A B S T R A C T This paper contributes to the development of improved guidelines for cost evaluation of Carbon Capture and Storage (CCS) from industrial applications building on previous work in the field. Toward improved cost estimates for CCS from industry To support CCS deployment, extensive studies assessing the techno- economic feasibility of CCS from industrial sources have been published, for example, on: iron and steel (IEAGHG, 2013b), cement (Gardarsdottir et al., 2019; IEAGHG, 2013a), refineries (IEAGHG, 2017b), pulp and paper (IEAGHG, 2016), chemical production (IEAGHG, 2017c), oil and gas production and natural gas processing (IEAGHG, 2017a; Roussanaly et al., 2019), and hydrogen production (IEAGHG, 2017d).

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sequestration.mit.edu research

[PDF] The Cost of Carbon Capture

https://sequestration.mit.edu/pdf/David_and_Herzog.pdf

Table 2: Cost Model for Capture Plants, in 2000 and 2012 Cycle IGCC IGCC PC PC NGCC NGCC Data Description 2000 2012 2000 2012 2000 2012 Input Capital Cost, $/kW 1401 1145 1150 1095 542 525 O&M, mills/kWh 7.9 6.1 7.4 6.1 2.5 2.4 Heat Rate (LHV), Btu/kWh 8081 7137 8277 8042 6201 5677 Incremental Capital Cost, $/(kg/h) 305 275 529 476 921 829 Incremental O&M, mills/kg 2.65 2.39 5.56 5.00 5.20 4.68 Energy Requirements, kWh/kg 0.194 0.135 0.317 0.196 0.354 0.297 Basis Yearly Operating Hours, hrs/yr 6570 6570 6570 6570 6570 6570 Capital Charge Rate, %/yr 15 15 15 15 15 15 Fuel Cost (LHV), $/MMBtu 1.24 1.24 1.24 1.24 2.93 2.93 Capture Efficiency, % 90 90 90 90 90 90 Reference Plant CO2 Emitted, kg/kWh 0.752 0.664 0.789 0.766 0.368 0.337 coe: CAPITAL, mills/kWh 32.0 26.1 26.3 25.0 12.4 12.0 coe: FUEL, mills/kWh 10.0 8.8 10.3 10.0 18.2 16.6 coe: O&M, mills/kWh 7.9 6.1 7.4 6.1 2.5 2.4 Cost of Electricity, ¢/kWh 4.99 4.10 4.39 4.10 3.30 3.10 Thermal Efficiency (LHV), % 42.2 47.8 41.2 42.4 55.0 60.1 Capture Plant Relative Power Output, % 85.4 91.0 75.0 85.0 87.0 90.0 Heat Rate (LHV), Btu/kWh 9462 7843 11037 9461 7131 6308 Capital Cost, $/kW 1909 1459 2090 1718 1013 894 CO2 Emitted, kg/kWh 0.088 0.073 0.105 0.090 0.042 0.037 coe: CAPITAL, mills/kWh 43.6 33.3 47.7 39.2 23.1 20.4 coe: FUEL, mills/kWh 11.7 9.7 13.7 11.7 20.9 18.5 coe: O&M, mills/kWh 11.6 8.4 15.7 11.6 5.1 4.4 Cost of Electricity, ¢/kWh 6.69 5.14 7.71 6.26 4.91 4.33 Thermal Efficiency (LHV), % 36.1 43.5 30.9 36.1 47.8 54.1 Comparison Incremental coe, ¢/kWh 1.70 1.04 3.32 2.16 1.61 1.23 Energy Penalty, % 14.6 9.0 25.0 15.0 13.0 10.0 Mitigation Cost, Capture vs.

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iea.org article

Is carbon capture too expensive? – Analysis - IEA

https://www.iea.org/commentaries/is-carbon-capture-too-expensive

IEA analysis based on own estimates and GCCSI (2017), Global costs of carbon capture and storage, 2017 update, IEAGHG (2014), CO2 capture at coal based power and hydrogen plants, Keith et al. And in the iron and steel sector, production routes based on CCUS are currently the most advanced and least-cost low-carbon options. For cement production, while CCUS is the only known technology that could achieve widespread and deep emissions reductions in cement production, demand reductions, as well as biomass and other low-carbon heat sources (including in combination with CO2 capture) are also significant measures for reducing the sector's emissions. The ranges shown reflect electricity prices from USD 30-90/MWh. Processes shown cover conventional unabated fossil fuel based processes that are the principal current production methods, as well as low carbon options based on CCUS or on other alternatives that do not use CO2 capture.

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sciencedirect.com article