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Economic Evaluation of Carbon Capture and Utilization Applying the Technology of Mineral Carbonation at Coal-Fired Power Plant

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  • Bong Jae Lee

    (School of Environmental Engineering, University of Seoul, Seoul 02504, Korea
    Korea Testing & Research Institute (KTR), Gwacheon 13810, Korea)

  • Jeong Il Lee

    (Korea Testing & Research Institute (KTR), Gwacheon 13810, Korea)

  • Soo Young Yun

    (Korea Testing & Research Institute (KTR), Gwacheon 13810, Korea)

  • Cheol-Soo Lim

    (National Institute of Environmental Research (NIER), Incheon 22689, Korea)

  • Young-Kwon Park

    (School of Environmental Engineering, University of Seoul, Seoul 02504, Korea)

Abstract

Based on the operating data of a 40 tCO 2 /day (2 megawatt (MW)) class carbon capture and utilization (CCU) pilot plant, the scaled-up 400 tCO 2 /day (20 MW) class CCU plant at 500 MW power plant was economically analyzed by applying the levelized cost of energy analysis (LCOE) and CO 2 avoided cost. This study shows that the LCOE and CO 2 avoided cost for 400 tCO 2 /day class CCU plant of mineral carbonation technology were 26 USD/MWh and 64 USD/tCO 2 , representing low LCOE and CO 2 avoided cost, compared to other carbon capture and storage CCS and CCU plants. Based on the results of this study, the LCOE and CO 2 avoided cost may become lower by the economy of scale, even if the CO 2 treatment capacity of the CCU plant could be extended as much as for similar businesses. Therefore, the CCU technology by mineral carbonation has an economic advantage in energy penalty, power plant construction, and operating cost over other CCS and CCU with other technology.

Suggested Citation

  • Bong Jae Lee & Jeong Il Lee & Soo Young Yun & Cheol-Soo Lim & Young-Kwon Park, 2020. "Economic Evaluation of Carbon Capture and Utilization Applying the Technology of Mineral Carbonation at Coal-Fired Power Plant," Sustainability, MDPI, vol. 12(15), pages 1-14, July.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:15:p:6175-:d:392618
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    References listed on IDEAS

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    2. Branimir Tramošljika & Paolo Blecich & Igor Bonefačić & Vladimir Glažar, 2021. "Advanced Ultra-Supercritical Coal-Fired Power Plant with Post-Combustion Carbon Capture: Analysis of Electricity Penalty and CO 2 Emission Reduction," Sustainability, MDPI, vol. 13(2), pages 1-20, January.
    3. Francesco Conte & Antonio Tripodi & Ilenia Rossetti & Gianguido Ramis, 2021. "Feasibility Study of the Solar-Promoted Photoreduction of CO 2 to Liquid Fuels with Direct or Indirect Use of Renewable Energy Sources," Energies, MDPI, vol. 14(10), pages 1-14, May.
    4. Olabi, A.G. & Obaideen, Khaled & Elsaid, Khaled & Wilberforce, Tabbi & Sayed, Enas Taha & Maghrabie, Hussein M. & Abdelkareem, Mohammad Ali, 2022. "Assessment of the pre-combustion carbon capture contribution into sustainable development goals SDGs using novel indicators," Renewable and Sustainable Energy Reviews, Elsevier, vol. 153(C).
    5. Wilhelm Kuckshinrichs, 2021. "LCOE: A Useful and Valid Indicator—Replica to James Loewen and Adam Szymanski," Energies, MDPI, vol. 14(2), pages 1-8, January.

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