CO2 Capture Cost and CO2 Avoided Cost Estimation

https://doi.org/10.3390/en15020425

“The main cost metrics in this work were CO₂ capture cost and CO₂ avoided cost. Levelised cost or levelised cost of electricity (LCOE) for power plants’ cost estimates is another important cost metric, but it was not used in this work. The estimation of CO₂ avoided cost was only performed for the CO₂ capture process for the cement flue gas. This accounts for CO₂ emissions during the production of the electricity and steam needed for desorption. According to the U.S. Energy Information Administration [33], for each kWh of steam produced from natural gas, 0.18 kg of CO₂ is emitted. That means, for every kWh of electricity consumed, 0.64 kg of CO₂ is emitted. This is the basis for CO₂ avoided cost estimation in this work, to account for the actual CO₂ emissions reduction. The annualised capital cost, annualised factor, total annual cost (TAC) and CO₂ capture cost were estimated using Equations (8)–(11), respectively. Symbol n is the number of operational years, and r is the discount rate. The CO₂ avoided cost in this work was estimated with Equation (12), which is equivalent to (13), as was also carried out in several studies in the literature [29,52,54,55]. The cost of transport and storage were not included. This is because transport and storage costs depend on the mode of transport, distance and specific characteristics of the storage site. When the transport and storage costs are included to account for the entire CCS chain, Equation (14) is used.”