Economic feasibility studies for Carbon Capture and Utilization technologies: a tutorial review

Abstract

Carbon Capture and Utilization (CCU) involves the capture and use of CO 2 as a resource to create valuable products. The economic viability of CCU technologies is crucial for its implementation in real life. The competitiveness of various CCU technologies has been investigated frequently resulting in a variety of economic feasibility studies and economic indicators. This study performs a tutorial review, in which practical guidance is given on the implementation of TEAs for chemical CCU technologies. The tutorial review will critically examine the economic feasibility studies that have been performed in this eld and will advise how these studies can be improved in the future. A thorough review of the literature set is performed, in which we evaluate the quality of the economic feasibility studies in the literature set by comparing these studies to the guidelines from Zimmermann et al. ( 2020). The ve phases of an exhaustive TEA are (I) goal and scope, (II) data inventory, (III) calculation of indicators, (IV) interpretation, and (V) writing the report. We evaluate the implementation of these ve phases in the economic feasibility studies in the literature set. The tutorial review shows that economic feasibility studies for chemical CCU technologies can and should be improved in various manners. Phase I and II are often skipped or incomplete. Phase III, the calculation of assessment indicators, shows diversity in the indicator base which hampers comparability across CCU technologies of the technical and economic criteria that are key for the feasibility. Phase IV, the interpretation of results, is often missing in the literature set or lacks thorough uncertainty and sensitivity analyses. These ndings suggest that future economic feasibility studies should be made in a more standardized way to improve both the quality and comparability of economic feasibility studies. This tutorial review has raised important questions about the management of uncertainty and exibility in economic feasibility studies. The integration of Real Options Analysis (ROA) within the TEA is proposed to analyse the investment decision in CCU technologies in a dynamic setting.

Economic Feasibility Analysis of Sawaibu, Indonesia Bay Bridge Construction

“…The location is on the first alternative bridge route, from the Jalan Pahlawan Canal's west to the Jalan Siliwangi's east side. Research sites Data Sources and Research [18] Implementation Secondary data is a literature study on the analysis of economic feasibility studies [19], [20]. In contrast, primary data are traffic, vehicle growth, a willingness to pay for tickets, and a travel time savings survey.…”

Renewable Power and Heat for the Decarbonisation of Energy-Intensive Industries

“…Carbon capture and storage (CCS) will be an alternative mitigation route for large industrial CO 2 emitters such as the cement and lime, steel, chemical manufacturing, and refining sectors [88]. Highly CO 2 -concentrated gas streams can be easily processed since these streams do not require the technologies that currently capture CO 2 from diluted streams.…”

Techno-Economic Assessment of Amine-Based CO2 Capture Process at Coal-Fired Power Plants: Uncertainty Analysis

“…Parabolic uncertainty analysis defines and quantifies the level of uncertainty in the model output by analyzing the output distribution. Sensitivity analysis, on the other hand, identifies the sources of uncertainty in the input variables that contribute to the uncertainty in the model’s results . There are limited studies that have conducted sensitivity and uncertainty analyses.…”