Perspectives on The Techno-Economic Analysis of Carbon Capture and Storage

Simon Patrick Philbin, Steve Hsueh-Ming Wang

Abstract


Carbon capture and storage (CCS) is required in order to reduce the impact of fossil fuel burning on global warming and the resulting climate change. The use of CCS technology offers much promise in regard to the capture of major levels of waste carbon dioxide produced from the burning of fossil fuels for electricity generation and from industrial processes. Crucial to the development of CCS technology is the need for improved decision-making tools to underpin sustainable investment and associated policy initiatives for CCS technology and infrastructure. Consequently, this paper provides the results from the techno-economic analysis of CCS. This includes regression modelling of the levelized cost of electricity for power generation via combined cycle gas turbine both with and without CCS. In order to inform future research in the area, a supporting CCS research agenda has been formulated.

Keywords


carbon capture and storage (CCS); techno-economic analysis; sustainable development; policy framework; decision-making.

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References


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