IDEAS home Printed from https://ideas.repec.org/a/eee/appene/v303y2021ics0306261921009922.html
   My bibliography  Save this article

Formalizing an integrated decision-making model for the risk assessment of carbon capture, utilization, and storage projects: From a sustainability perspective

Author

Listed:
  • Liu, Bingsheng
  • Liu, Song
  • Xue, Bin
  • Lu, Shijian
  • Yang, Yang

Abstract

Climate change exacerbated by carbon emissions is a major challenge faced by countries worldwide. China has envisioned achieving a carbon peak by 2030 and carbon neutrality by 2060. Carbon capture, utilization, and storage (CCUS), an emerging technology, is capable of reducing carbon emissions. Existing theoretical research has paid little attention to comprehensive risk assessments for CCUS projects from a sustainability viewpoint. Therefore, this study formalizes an integrated decision-making model for the risk assessment of CCUS projects. An indicator system consisting of environmental, social, economic, governance and technological sustainability dimensions was developed to assess the risk of CCUS projects. Furthermore, a multiattribute group decision-making process was modeled in intuitionistic fuzzy (IF) and linguistic (LIN) environments, both of which are interconvertible. To automate the risk assessment process for different CCUS project contexts, an integrated decision prototype programmed in Microsoft Excel 2016 was designed. Then, two case studies from the Shengli Power Plant CCUS project were conducted to validate the integrated decision-making model. A risk assessment table and risk assessment chart were leveraged to analyze, visualize, and rank the decision alternatives according to their risk performance. The results show that the post-combustion capture technology is selected as the optimal alternative option in three capture technologies; Of the four storage sites, site A is selected as the optimal alternative option. The result of carbon capture technology is in line with the real decision made by Shengli Power Plant, which proves the validity of the model. The optimal option is the same in both IF and LIN environments, which shows the consistency of the model. Theoretically, an integrated decision-making model not only contributes to assessing the risk of CCUS projects through the lens of sustainable development but advances group decision-making modeling by identifying experts’ preferences for obtaining effective evaluation results. Practically, this study could help stakeholders comprehensively and promptly evaluate the risk performance of CCUS projects before making development decisions regarding sustainability.

Suggested Citation

  • Liu, Bingsheng & Liu, Song & Xue, Bin & Lu, Shijian & Yang, Yang, 2021. "Formalizing an integrated decision-making model for the risk assessment of carbon capture, utilization, and storage projects: From a sustainability perspective," Applied Energy, Elsevier, vol. 303(C).
    • Handle: RePEc:eee:appene:v:303:y:2021:i:c:s0306261921009922
    DOI: 10.1016/j.apenergy.2021.117624
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0306261921009922
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.apenergy.2021.117624?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Yao, Xing & Zhong, Ping & Zhang, Xian & Zhu, Lei, 2018. "Business model design for the carbon capture utilization and storage (CCUS) project in China," Energy Policy, Elsevier, vol. 121(C), pages 519-533.
    2. Viebahn, Peter & Vallentin, Daniel & Höller, Samuel, 2015. "Prospects of carbon capture and storage (CCS) in China’s power sector – An integrated assessment," Applied Energy, Elsevier, vol. 157(C), pages 229-244.
    3. Lan-Cui Liu & Qi Li & Jiu-Tian Zhang & Dong Cao, 2016. "Toward a framework of environmental risk management for CO 2 geological storage in china: gaps and suggestions for future regulations," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 21(2), pages 191-207, February.
    4. Li, Sheng & Zhang, Xiaosong & Gao, Lin & Jin, Hongguang, 2012. "Learning rates and future cost curves for fossil fuel energy systems with CO2 capture: Methodology and case studies," Applied Energy, Elsevier, vol. 93(C), pages 348-356.
    5. Zhou, Wenji & Zhu, Bing & Fuss, Sabine & Szolgayová, Jana & Obersteiner, Michael & Fei, Weiyang, 2010. "Uncertainty modeling of CCS investment strategy in China's power sector," Applied Energy, Elsevier, vol. 87(7), pages 2392-2400, July.
    6. Lorenzo Rosa & Jeffrey A. Reimer & Marjorie S. Went & Paolo D’Odorico, 2020. "Hydrological limits to carbon capture and storage," Nature Sustainability, Nature, vol. 3(8), pages 658-666, August.
    7. Ren, Bo & Ren, Shaoran & Zhang, Liang & Chen, Guoli & Zhang, Hua, 2016. "Monitoring on CO2 migration in a tight oil reservoir during CCS-EOR in Jilin Oilfield China," Energy, Elsevier, vol. 98(C), pages 108-121.
    8. L׳Orange Seigo, Selma & Dohle, Simone & Siegrist, Michael, 2014. "Public perception of carbon capture and storage (CCS): A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 38(C), pages 848-863.
    9. David Griggs & Mark Stafford-Smith & Owen Gaffney & Johan Rockström & Marcus C. Öhman & Priya Shyamsundar & Will Steffen & Gisbert Glaser & Norichika Kanie & Ian Noble, 2013. "Sustainable development goals for people and planet," Nature, Nature, vol. 495(7441), pages 305-307, March.
    10. Liu, Bingsheng & Shen, Yinghua & Zhang, Wei & Chen, Xiaohong & Wang, Xueqing, 2015. "An interval-valued intuitionistic fuzzy principal component analysis model-based method for complex multi-attribute large-group decision-making," European Journal of Operational Research, Elsevier, vol. 245(1), pages 209-225.
    11. Yang, Lin & Xu, Mao & Yang, Yuantao & Fan, Jingli & Zhang, Xian, 2019. "Comparison of subsidy schemes for carbon capture utilization and storage (CCUS) investment based on real option approach: Evidence from China," Applied Energy, Elsevier, vol. 255(C).
    12. Sun, Liang & Chen, Wenying, 2013. "The improved ChinaCCS decision support system: A case study for Beijing–Tianjin–Hebei Region of China," Applied Energy, Elsevier, vol. 112(C), pages 793-799.
    13. Yang, Lin & Zhang, Xian & McAlinden, Karl J., 2016. "The effect of trust on people's acceptance of CCS (carbon capture and storage) technologies: Evidence from a survey in the People's Republic of China," Energy, Elsevier, vol. 96(C), pages 69-79.
    14. Zhang, Shuai & Liu, Linlin & Zhang, Lei & Zhuang, Yu & Du, Jian, 2018. "An optimization model for carbon capture utilization and storage supply chain: A case study in Northeastern China," Applied Energy, Elsevier, vol. 231(C), pages 194-206.
    15. Sun, Liang & Chen, Wenying, 2017. "Development and application of a multi-stage CCUS source–sink matching model," Applied Energy, Elsevier, vol. 185(P2), pages 1424-1432.
    16. Zhang, Zhien & Pan, Shu-Yuan & Li, Hao & Cai, Jianchao & Olabi, Abdul Ghani & Anthony, Edward John & Manovic, Vasilije, 2020. "Recent advances in carbon dioxide utilization," Renewable and Sustainable Energy Reviews, Elsevier, vol. 125(C).
    17. Jiang, Kai & Ashworth, Peta & Zhang, Shiyi & Liang, Xi & Sun, Yan & Angus, Daniel, 2020. "China's carbon capture, utilization and storage (CCUS) policy: A critical review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 119(C).
    18. Lee, Suh-Young & Lee, In-Beum & Han, Jeehoon, 2019. "Design under uncertainty of carbon capture, utilization and storage infrastructure considering profit, environmental impact, and risk preference," Applied Energy, Elsevier, vol. 238(C), pages 34-44.
    19. Mingwei Lin & Zeshui Xu & Yuling Zhai & Zhiqiang Yao, 2018. "Multi-attribute group decision-making under probabilistic uncertain linguistic environment," Journal of the Operational Research Society, Taylor & Francis Journals, vol. 69(2), pages 157-170, February.
    20. Zhang, Shuwei & Bauer, Nico & Luderer, Gunnar & Kriegler, Elmar, 2014. "Role of technologies in energy-related CO2 mitigation in China within a climate-protection world: A scenarios analysis using REMIND," Applied Energy, Elsevier, vol. 115(C), pages 445-455.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Callas, Catherine & Saltzer, Sarah D. & Steve Davis, J. & Hashemi, Sam S. & Kovscek, Anthony R. & Okoroafor, Esuru R. & Wen, Gege & Zoback, Mark D. & Benson, Sally M., 2022. "Criteria and workflow for selecting depleted hydrocarbon reservoirs for carbon storage," Applied Energy, Elsevier, vol. 324(C).
    2. Yu, Yang & Wu, Shibo & Yu, Jianxing & Xu, Ya & Song, Lin & Xu, Weipeng, 2022. "A hybrid multi-criteria decision-making framework for offshore wind turbine selection: A case study in China," Applied Energy, Elsevier, vol. 328(C).
    3. Qiong Chen & Hongyu Zhang & Yui-Yip Lau & Tianni Wang & Wen Wang & Guangsheng Zhang, 2023. "Climate Change, Carbon Peaks, and Carbon Neutralization: A Bibliometric Study from 2006 to 2023," Sustainability, MDPI, vol. 15(7), pages 1-12, March.
    4. Qian Zhang & Yunjia Wang & Lu Liu, 2023. "Carbon Tax or Low-Carbon Subsidy? Carbon Reduction Policy Options under CCUS Investment," Sustainability, MDPI, vol. 15(6), pages 1-26, March.
    5. McLaughlin, Hope & Littlefield, Anna A. & Menefee, Maia & Kinzer, Austin & Hull, Tobias & Sovacool, Benjamin K. & Bazilian, Morgan D. & Kim, Jinsoo & Griffiths, Steven, 2023. "Carbon capture utilization and storage in review: Sociotechnical implications for a carbon reliant world," Renewable and Sustainable Energy Reviews, Elsevier, vol. 177(C).
    6. Golrokh Sani, Ahmad & Najafi, Hamidreza & Azimi, Seyedeh Shakiba, 2022. "Dynamic thermal modeling of the refrigerated liquified CO2 tanker in carbon capture, utilization, and storage chain: A truck transport case study," Applied Energy, Elsevier, vol. 326(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Chen, Siyuan & Liu, Jiangfeng & Zhang, Qi & Teng, Fei & McLellan, Benjamin C., 2022. "A critical review on deployment planning and risk analysis of carbon capture, utilization, and storage (CCUS) toward carbon neutrality," Renewable and Sustainable Energy Reviews, Elsevier, vol. 167(C).
    2. Wang, Peng-Tao & Wei, Yi-Ming & Yang, Bo & Li, Jia-Quan & Kang, Jia-Ning & Liu, Lan-Cui & Yu, Bi-Ying & Hou, Yun-Bing & Zhang, Xian, 2020. "Carbon capture and storage in China’s power sector: Optimal planning under the 2 °C constraint," Applied Energy, Elsevier, vol. 263(C).
    3. Yang, Lin & Xu, Mao & Fan, Jingli & Liang, Xi & Zhang, Xian & Lv, Haodong & Wang, Dong, 2021. "Financing coal-fired power plant to demonstrate CCS (carbon capture and storage) through an innovative policy incentive in China," Energy Policy, Elsevier, vol. 158(C).
    4. Jiang, Kai & Ashworth, Peta, 2021. "The development of Carbon Capture Utilization and Storage (CCUS) research in China: A bibliometric perspective," Renewable and Sustainable Energy Reviews, Elsevier, vol. 138(C).
    5. Fan, Jing-Li & Shen, Shuo & Wei, Shi-Jie & Xu, Mao & Zhang, Xian, 2020. "Near-term CO2 storage potential for coal-fired power plants in China: A county-level source-sink matching assessment," Applied Energy, Elsevier, vol. 279(C).
    6. Jiang, Kai & Ashworth, Peta & Zhang, Shiyi & Hu, Guoping, 2022. "Print media representations of carbon capture utilization and storage (CCUS) technology in China," Renewable and Sustainable Energy Reviews, Elsevier, vol. 155(C).
    7. Viebahn, Peter & Vallentin, Daniel & Höller, Samuel, 2015. "Prospects of carbon capture and storage (CCS) in China’s power sector – An integrated assessment," Applied Energy, Elsevier, vol. 157(C), pages 229-244.
    8. Yang, Lin & Lv, Haodong & Wei, Ning & Li, Yiming & Zhang, Xian, 2023. "Dynamic optimization of carbon capture technology deployment targeting carbon neutrality, cost efficiency and water stress: Evidence from China's electric power sector," Energy Economics, Elsevier, vol. 125(C).
    9. Tan, Zhizhou & Zeng, Xianhai & Lin, Boqiang, 2023. "How do multiple policy incentives influence investors’ decisions on biomass co-firing combined with carbon capture and storage retrofit projects for coal-fired power plants?," Energy, Elsevier, vol. 278(PB).
    10. Liu, Jiangfeng & Zhang, Qi & Li, Hailong & Chen, Siyuan & Teng, Fei, 2022. "Investment decision on carbon capture and utilization (CCU) technologies—A real option model based on technology learning effect," Applied Energy, Elsevier, vol. 322(C).
    11. Fan, Jing-Li & Xu, Mao & Li, Fengyu & Yang, Lin & Zhang, Xian, 2018. "Carbon capture and storage (CCS) retrofit potential of coal-fired power plants in China: The technology lock-in and cost optimization perspective," Applied Energy, Elsevier, vol. 229(C), pages 326-334.
    12. Yao, Xing & Zhong, Ping & Zhang, Xian & Zhu, Lei, 2018. "Business model design for the carbon capture utilization and storage (CCUS) project in China," Energy Policy, Elsevier, vol. 121(C), pages 519-533.
    13. Guo, Jian & Zhong, Minghao & Chen, Shuran, 2022. "Analysis and simulation of BECCS vertical integration model in China based on evolutionary game and system dynamics," Energy, Elsevier, vol. 252(C).
    14. Turner, Karen & Race, Julia & Alabi, Oluwafisayo & Katris, Antonios & Swales, J. Kim, 2021. "Policy options for funding carbon capture in regional industrial clusters: What are the impacts and trade-offs involved in compensating industry competitiveness loss?," Ecological Economics, Elsevier, vol. 184(C).
    15. Tapia, John Frederick D. & Lee, Jui-Yuan & Ooi, Raymond E.H. & Foo, Dominic C.Y. & Tan, Raymond R., 2016. "Optimal CO2 allocation and scheduling in enhanced oil recovery (EOR) operations," Applied Energy, Elsevier, vol. 184(C), pages 337-345.
    16. Lee, Suh-Young & Lee, Jae-Uk & Lee, In-Beum & Han, Jeehoon, 2017. "Design under uncertainty of carbon capture and storage infrastructure considering cost, environmental impact, and preference on risk," Applied Energy, Elsevier, vol. 189(C), pages 725-738.
    17. Cai, Mingyu & Su, Yuliang & Elsworth, Derek & Li, Lei & Fan, Liyao, 2021. "Hydro-mechanical-chemical modeling of sub-nanopore capillary-confinement on CO2-CCUS-EOR," Energy, Elsevier, vol. 225(C).
    18. Rochedo, Pedro R.R. & Szklo, Alexandre, 2013. "Designing learning curves for carbon capture based on chemical absorption according to the minimum work of separation," Applied Energy, Elsevier, vol. 108(C), pages 383-391.
    19. Herui Cui & Tian Zhao & Ruirui Wu, 2018. "An Investment Feasibility Analysis of CCS Retrofit Based on a Two-Stage Compound Real Options Model," Energies, MDPI, vol. 11(7), pages 1-19, July.
    20. Zhang, Shuai & Liu, Linlin & Zhang, Lei & Zhuang, Yu & Du, Jian, 2018. "An optimization model for carbon capture utilization and storage supply chain: A case study in Northeastern China," Applied Energy, Elsevier, vol. 231(C), pages 194-206.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:appene:v:303:y:2021:i:c:s0306261921009922. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/405891/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.