Study on the Economic Operation of a 1000 MWe Coal-Fired Power Plant with CO 2 Capture

Jinning Yang, Chaowei Wang (), Dong Xu, Xuehai Yu, Yang Yang, Zhiyong Wang and Xiao Wu
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Jinning Yang: CHN ENERGY New Energy Technology Research Institute Co., Ltd., Beijing 102209, China
Chaowei Wang: CHN ENERGY New Energy Technology Research Institute Co., Ltd., Beijing 102209, China
Dong Xu: CHN ENERGY New Energy Technology Research Institute Co., Ltd., Beijing 102209, China
Xuehai Yu: CHN ENERGY New Energy Technology Research Institute Co., Ltd., Beijing 102209, China
Yang Yang: CHN ENERGY New Energy Technology Research Institute Co., Ltd., Beijing 102209, China
Zhiyong Wang: CHN ENERGY New Energy Technology Research Institute Co., Ltd., Beijing 102209, China
Xiao Wu: National Engineering Research Center of Power Generation Control and Safety, Southeast University, Nanjing 210096, China

Energies, 2024, vol. 17, issue 19, 1-17

Abstract: The flexible operation of carbon capture units is crucial for the economic performance of coal-fired power plants equipped with CO 2 capture systems. This paper aims to investigate the impact of electricity, CO 2 , and fuel prices on the economic operation of such plants. A novel economic optimization model is proposed, integrating a static model of the carbon capture system with a particle swarm optimization algorithm. A new concept, the CO 2 boundary price, is introduced as a key metric for determining the operating conditions of CO 2 capture units. The CO 2 boundary price rises when the power load decreases due to the decline in power generation efficiency, and it also increases with rising fuel prices, as the cost of steam for CO 2 capture increases. Additionally, when the objective is to meet power load demand, CO 2 prices have a great influence on the operation of CO 2 capture units, assuming fixed coal and electricity prices. However, when the primary goal is to maximize plant profitability, the system’s operational conditions are strongly influenced by the relative prices of electricity and CO 2 . The proposed optimization model and the uncovered price-effect mechanisms provide valuable insights into the economic operation of carbon capture power plants.

Keywords: coal-fired power plant; economic optimization; CO 2 capture; CO 2 boundary price; optimization model development (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2024
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