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

Bong Jae Lee, Jeong Il Lee, Soo Young Yun, Cheol-Soo Lim and Young-Kwon Park
Additional contact information
Bong Jae Lee: School of Environmental Engineering, University of Seoul, Seoul 02504, 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

Sustainability, 2020, vol. 12, issue 15, 1-14

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.

Keywords: carbon capture and utilization; levelized cost of energy; mineral carbonation; economic evaluation; coal-fired power plant (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
https://www.mdpi.com/2071-1050/12/15/6175/pdf (application/pdf)
https://www.mdpi.com/2071-1050/12/15/6175/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:12:y:2020:i:15:p:6175-:d:392618

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().