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Chapter 3: Capture of CO2 where, CO2, captured kWh-1 = total mass of CO2 captured (in tonnes) per net kWh for the plant with capture. This measure reflects the economic viability of a CO2 capture system given a market price for CO2 (as an industrial commodity). If the CO2 captured at a power plant can be sold at this price (e.g., to the food industry, or for enhanced oil recovery), the COE for the plant with capture would be the same as for the reference plant having higher CO2 emissions. Numerically, the cost of CO2 captured is lower than the cost of CO2 avoided because the energy required to operate the CO2 capture systems increases the amount of CO2 emitted per unit of product. As the energy requirement for CCS is substantially larger than for other emission control systems, it has important implications for plant economics as well as for resource requirements and environmental impacts. The energy ‘penalty’ (as it is often called) enters cost calculations in one of two ways. Most commonly, all energy needed to operate CCS absorbers, compressors, pumps and other equipment is assumed to be provided within the plant boundary, thus lowering the net plant capacity (kW) and output (kWh, in the case of a power plant). The result, as shown by Equation (7), is a higher unit capital cost (US$ kW-1) and a higher cost of electricity production (US$ kWh-1). Effectively, these higher unit costs reflect the expense of building and operating the incremental capacity needed to operate the CCS system. 149 3.7.2.5 Importance of CCS energy requirements assumptions about the structure of an economy as well as the cost of technology. Chapter 8 provides a discussion of macroeconomic modelling as it relates to CO2 capture costs. 3.7.3 The context for current cost estimates Recall that CO2 capture, while practiced today in some industrial applications, is not currently a commercial technology used at large electric power plants, which are the focus of most CCS studies. Thus, cost estimates for CO2 capture systems rely mainly on studies of hypothetical plants. Published studies also differ significantly in the assumptions used for cost estimation. Equation (7), for example, shows that the plant capacity factor has a major impact on the cost of electric power generation, as do the plant lifetime and discount rate used to compute the fixed charge factor. The COE, in turn, is a key element of CO2 avoidance cost, Equation (8). Thus, a high plant capacity factor or a low fixed charge rate will lower the cost of CO2 capture per kWh. The choice of other important parameters, such as the plant size, efficiency, fuel type and CO2 removal rate will similarly affect the CO2 capture cost. Less apparent, but often equally important, are assumptions about parameters such as the ‘contingency cost factors’ embedded in capital cost estimates to account for unspecified costs anticipated for technologies at an early stage of development, or for commercial systems that have not yet been demonstrated for the application, location, or plant scale under study. Because of the variability of assumptions employed in different studies of CO2 capture, a systematic comparison of cost results is not straightforward (or even possible in most cases). Moreover, there is no universally ‘correct’ set of assumptions that apply to all the parameters affecting CO2 capture cost. For example, the quality and cost of natural gas or coal delivered to power plants in Europe and the United States may differ markedly. Similarly, the cost of capital for a municipal or government-owned utility may be significantly lower than for a privately-owned utility operating in a competitive market. These and other factors lead to real differences in CO2 capture costs for a given technology or power generation system. Thus, we seek in this report to elucidate the key assumptions employed in different studies of similar systems and technologies and their resulting impact on the cost of CO2 capture. Analyses comparing the costs of alternative systems on an internally consistent basis (within a particular study) also are highlighted. Nor are all studies equally credible, considering their vintage, data sources, level of detail and extent of peer review. Thus, the approach adopted here is to rely as much as possible on recent peer-reviewed literature, together with other publicly- available studies by governmental and private organizations heavily involved in the field of CO2 capture. Later, in Chapter 8, the range of capture costs reported here are combined with cost estimates for CO2 transport and storage to arrive at estimates of the overall cost of CCS for selected power systems and industrial processes. Alternatively, some studies - particularly for industrial processes such as hydrogen production - assume that some or all of the energy needed to operate the CCS system is purchased from outside the plant boundary at some assumed price. Still other studies assume that new equipment is installed to generate auxiliary energy on-site. In these cases, the net plant capacity and output may or may not change and may even increase. However, the COE in Equation (7) again will rise due to the increases in VOM costs (for purchased energy) and (if applicable) capital costs for additional equipment. The assumption of purchased power, however, does not guarantee a full accounting of the replacement costs or CO2 emissions associated with CCS. In all cases, however, the larger the CCS energy requirement, the greater the difference between the costs of CO2 captured and avoided. 3.7.2.6 Other measures of cost The cost measures above characterize the expense of adding CO2 capture to a single plant of a given type and operating profile. A broader modelling framework is needed to address questions involving multiple plants (e.g., a utility system, regional grid, or national network), or decisions about what type of plant to build (and when). Macroeconomic models that include emission control costs as elements of a more complex framework typically yield cost measures such as the change in gross domestic product (GDP) from the imposition of a carbon constraint, along with changes in the average cost of electricity and cost per tonne of CO2 abated. Such measures are often useful for policy analysis, but reflect many additionalPDF Image | CARBON DIOXIDE CAPTURE AND STORAGE
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