The Current Status and Future Prospects of Carbon Capture, Carbon Transportation, And Carbon Utilization Technologies in Chinese Coal-Fired Power Plants Within the Context of Dual Carbon Goals

Abstract

Carbon dioxide capture, utilization, and storage (CCUS) constitute vital measures for achieving net emissions reduction in China. Against the backdrop of the “dual carbon” initiative in China, this paper meticulously examines and analyzes the key technological principles, merits and demerits, and bottlenecks associated with CCUS carbon capture in the country’s thermal power plants at the current stage. It combines the prevailing industrial application status and the future development trajectory of pertinent technologies with considerations of industrial economic benefits and business models. Building upon this analysis, the paper summarizes the application status of CCUS technology in China’s thermal power plant industry and presents future prospects. On the technological front, the three capture methods grapple with the challenge of high costs. Therefore, there is a need to intensify efforts in developing low-cost and efficient carbon capture materials, as well as researching and practically applying low-cost oxygen generation technology. Economically, CCUS technology currently faces high costs, low returns, and certain commercial barriers, placing China in a demonstrative business model stage. To overcome these challenges and realize the economic benefits of CCUS technology, government incentives and technological innovation are imperative. These measures aim to reduce the overall cost of CCUS technology, stimulate the scale development, and foster commercialization, ultimately contributing to the achievement of China’s carbon emission reduction targets.