Abstract
Carbon dioxide utilization (CDU) is one of the most critical approaches in climate change control. CDU’s future depends on the future demand for carbon-derived products; among them, formic acid is an excellent candidate due to its distinctive characteristics as a hydrogen carrier in liquid form. It is non-toxic that can be used in hydrogen fuel cells, and its significant potential in the heavy oil and biofuel refining process as a hydrogen-carrier substance. This research aims to use Energy, Exergy, Exergoeconomic, and exergoenvironmental (4E) analysis to evaluate the impact of anolyte material on the efficiency of the electrochemical reduction process to synthesis formic acid (in the term of six new anolyte materials). Results show that the second scenario (IrO2 single circulation mode) is the best option for the power plant. Implementing this CDU system reduces the carbon capture of about 75.20 kg/s or about 89% of the power plant’s overall carbon emission. This process’s energy penalty can be adequately provided by the PV, which causes greater exergy efficiency and decreases the power plant’s energy performance rate. Moreover, the use of IrO2 anolyte is decreased the exergy rate cost and the flow rate cost to the 0.21 $/kWh and 2.280×10-2 $/s. The CDU’s investment cost using the DSA/O2 anolyte is 28% decreased compared to the KOH anolyte and reached 7.2 million USD for the CO2 utilization plant.
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