A Novel Approach for the Economic Evaluation of New CO2 Capture Technologies for Power Plants

4 Pages Posted: 15 Apr 2019 Last revised: 27 Oct 2020

See all articles by Giulio Guandalini

Giulio Guandalini

Polytechnic University of Milan - Department of Energy

Matteo Carmelo Romano

Polytechnic University of Milan - Department of Energy

Minh Ho

The University of Sydney

Dianne Wiley

The University of Sydney

Carlos Abanades

Spanish Research Council CSIC-INCAR

Abstract

This paper presents a novel approach for assessing the economic performance of novel CO2 capture technologies for power plants. The method consists in three main steps: (i) definition of the carbon and energy balances with a simplified approach using few fundamental data on the novel capture technique, (ii) calculation of the CAPEX and OPEX of the conventional unit operations of the power plant integrating the novel technology and (iii) calculation of the minimum theoretical cost of CO2 avoided (CCA) and of the breakeven CAPEX and OPEX of the novel capture technology making it competitive with the benchmark capture technology. The proposed methodology has been applied to selected technologies showing that: (i) a clear relationship exists between the breakeven cost and the efficiency penalty which mainly affects the specific cost (in $/kWe) of the conventional components of the power plant; (ii) ideal minimum CCA is closely related to the efficiency penalty and range between ~20 $/tCO2 for efficiency penalties of 2.7% pts. and ~60 $/tCO2 for efficiency penalties of 11% pts. Significant reductions in the ideal minimum CCA may only be obtained through technologies allowing consistent economic savings by the removal of major components of the conventional power plant.

Note: The final version of this paper is available on the International Journal of Greenhouse Gas Control, Volume 84, May 2019, Pages 219-231.

Keywords: Other, GHGT-14

Suggested Citation

Guandalini, Giulio and Romano, Matteo Carmelo and Ho, Minh and Wiley, Dianne and Abanades, Carlos, A Novel Approach for the Economic Evaluation of New CO2 Capture Technologies for Power Plants. 14th Greenhouse Gas Control Technologies Conference Melbourne 21-26 October 2018 (GHGT-14) , Available at SSRN: https://ssrn.com/abstract=3365636 or http://dx.doi.org/10.2139/ssrn.3365636

Giulio Guandalini

Polytechnic University of Milan - Department of Energy ( email )

via Lambruschini 4
Milan, 20156
Italy

Matteo Carmelo Romano (Contact Author)

Polytechnic University of Milan - Department of Energy ( email )

via Lambruschini 4
Milan, 20156
Italy

Minh Ho

The University of Sydney ( email )

University of Sydney
Sydney, NSW 2006
Australia

Dianne Wiley

The University of Sydney ( email )

University of Sydney
Sydney, NSW 2006
Australia

Carlos Abanades

Spanish Research Council CSIC-INCAR

Francisco Pintado Fe 26
Oviedo, 33011
Spain

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