Techno-economic assessment of future-proofing coal plants with postcombustion capture against technology developments

Abstract

Abstract While CCS is demonstrated globally utilities will face a period with fast learning curves for capture technologies. Technology and cost uncertainty is a topic of particular concern for first-movers. For post-combustion capture plants, costs are expected to decrease in the future and improved solvents are likely to become commercially available after the first CCS plants have started operating. Given that power generation assets are usually paid back over extensive periods of time it is important that, in this context, the first generation of plants and any capture-ready plants can be future-proofed to incorporate future technological improvements. This paper presents selected results from a forthcoming report commissioned by the IEAGHG. A methodology based on a sensitivity analysis of solvent properties is used to identify pieces of equipment, which contribute to locking-in performance with capture. Finally, some principles for analysing power plant economics with improved solvents and assessing the potential financial benefits in competitive electricity market of mitigating these technology risks are examined.