Perspectives on The Techno-Economic Analysis of Carbon Capture and Storage

Simon P Philbin,Steve Hsueh-Ming Wang

doi:10.4067/s0718-27242019000300003

Abstract

Carbon capture and storage (CCS) is required in order to reduce the impact of fossil fuel burning on global warming and the resulting climate change. The use of CCS technology offers much promise in regard to the capture of major levels of waste carbon dioxide produced from the burning of fossil fuels for electricity generation and from industrial processes. Crucial to the development of CCS technology is the need for improved decision-making tools to underpin sustainable investment and associated policy initiatives for CCS technology and infrastructure. Consequently, this paper provides the results from the techno-economic analysis of CCS. This includes regression modelling of the levelized cost of electricity for power generation via combined cycle gas turbine both with and without CCS. In order to inform future research in the area, a supporting CCS research agenda has been formulated.

Highlights

The use of carbon capture and storage (CCS) technology offers much promise in regard to the capture of major levels of waste carbon dioxide (CO2) produced from the burning of fossil fuels for electricity generation and from industrial activities (Metz et al, 2005)
Carbon dioxide has been injected into rock formations for many years as part of enhanced oil recovery (EOR), it is still a relatively new approach for storing carbon dioxide produced by power plants in order to reduce carbon dioxide levels in the atmosphere and mitigate the effects of global warming (Benson and Cole, 2008)
This paper has provided the findings and insights from the technoeconomic analysis of carbon capture and storage, which has focused on the adoption of CCS technologies as well as the sustainability of the process from an economic perspective

Summary

Introduction

The use of carbon capture and storage (CCS) technology offers much promise in regard to the capture of major levels of waste carbon dioxide (CO2) produced from the burning of fossil fuels for electricity generation and from industrial activities (Metz et al, 2005). This is required in order to reduce the impact of fossil fuel burning on global warming and the resulting climate change. In order to inform future research studies in the area, a CCS research agenda has been formulated

Methodology

Findings

Conclusions