Economics of promotions_of_r&d_of_carbon_capture

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Economics of promotions_of_r&d_of_carbon_capture

  1. 1. By, Rakshith E, Revesh Gumme, Suresh A M
  2. 2. Carbon capture and storage (CCS) is an approach to mitigating global warming based on capturing carbon dioxide (CO2) from large point sources such as fossil fuel power plants and permanently storing it away from the atmosphere. 2
  3. 3. Process of Carbon Capture and storage 3
  4. 4. 1. Capture: Carbon capture is the separation of CO2 from the other gases produced when fossil fuel is burnt for power generation and in other industrial processes. 2. Transport: Once separated, the CO2 is compressed and transported to a suitable site for geological storage. 3. Storage: At its storage site, CO2 is injected into deep underground rock formations, often at depths of one kilometre or more. 4
  5. 5.  Most big projects to date have got off the ground because of the need for large quantities of CO2 to drive out the last drops of oil and gas from exhausted reservoirs, a process called enhanced oil recovery (EOR). A few planned projects intend to use such reservoirs for storage but without driving out oil and gas.  The last major geological storage option is in deep saline acquifers: Norway's Sleipner project has buried a million tonnes of CO2 a year in such a acquifer since 1996, without problems. Many existing CCS plants, such as Sleipner, strip unwanted CO2 from natural gas as it is drilled from reservoirs, but fitting CCS to the plants where the gas is burned is seen as the key goal in terms of global warming.  One Chinese CCS plant uses the CO2 for fizzy drinks. 5
  6. 6.  Almost all experts say “YES”.  CCS can provide 20% of the carbon cuts needed by 2050, according to the International Energy Agency(IEA). That requires 3,000 CCS plants.  The IEA also predicts that 70% of the energy used between now and 2050 will come from fossil fuels, emphasising the importance of CCS.  Without it, renewable, energy efficiency and nuclear power would have to significantly overshoot their already challenging targets. 6
  7. 7.         Salah CO2 Injection - Northern Africa Sleipner CO2 Injection - Norway Snøhvit CO2 Injection - Norway Great Plains Synfuel Plant and Weyburn-Midale Project Canada Shute Creek Gas Processing Facility - United States of America Enid Fertiliser - United States of America Val Verde Natural Gas Plants (formerly Sharon Ridge) - United States of America Century Plant (formerly Occidental Gas Processing Plant) United States of America 7
  8. 8. Technology Cost Number of Installations Globally 8
  9. 9. Decision tree of possible options for fitting an existing coal-fired electricity generating unit with carbon capture technology 9
  10. 10.  CCS is a proven technology that could help mitigate climate change, but at a steep cost.  Carbon Capture and Storage can deliver large reductions in the short term  Large volumes of CO reductions are economically feasible in the near term; however, there still exists a considerable economic gap that must be addressed.  CCS projects are large and have high up-front costs. 10
  11. 11. Contd...  CCS costs are expected to decline as climate change policy drives up the cost of emitting CO . In the future, these will intersect and CCS will be a justifiable business investment.  In order for the full potential of CCS to be realized though, federal and provincial governments must provide stable financial incentives to drive CCS development.  Without government support, CCS will not become economic. Communication must continue between industry and government to develop the necessary regulatory and financial drivers that make sense for CCS deployment. 11
  12. 12. Net Cost of Emission Reduction Potential from All Alternatives (Projected costs in 2020) 12
  13. 13. 13 Installed CO2 capture equipment cost as function of location
  14. 14.  Carbon capture as it currently exists requires expensive equipment and is highly energy consumptive. The parasitic energy requirement can range from around 25% for post-combustion capture at a high efficiency ultrasupercritical coal plant up to over 37% for a typical subcritical plant. This has a direct impact on a plant’s net cost of generating electricity, as well as the grid’s ability to continue to supply power and energy.  A recent report by Harvard University compiled a selection of these studies in an effort to compare the range of estimates for various capture technologies that can be integrated into new build power plants  The following representation are the set of relevant cost estimates from various studies on the economics of carbon capture 14
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  18. 18. India’s main industrial clusters and its geological basins with storage potential 18
  19. 19.  Carbon capture and storage could play a part in reconciling the seemingly dissonant goals of promoting the development hydrocarbon resources and meeting carbon emission reduction commitment under the Kyoto Protocol.  The costs of CCS systems, currently an important obstacle to their widespread deployment, are expected to fall over time as the technology improves and as more experience is gained in commercial applications around the world. Whether CCS transcends its niche applications and emerges as an economically viable tool for mitigating carbon emissions on a large scale depends to a significant extent on the stringency of the limits that may be placed on greenhouse gas emissions in the coming years. 19
  20. 20.       Carbon Capture and Storage: Technologies, Policies, Economics, and Implementation Strategies, Saud M. Al-Fattah, Murad F. Barghouty, Gaelle Bureau, Bashir O. Dabbousi, Simon Fillacier,Pierre Le Thiez, Cameron McQuale, Gilles Munier, Jonathan Royer-Adnot. http://www.iea.org/publications/freepublications/publication/policy_strategy_for _ccs.pdf http://www.ico2n.com/what-is-carbon-capture/carbon-capture-storageeconomics/technology-learning-curve http://calera.com/uploads/files/ccs_costs_latrobe-final-2.pdf http://sequestration.mit.edu/pdf/MuditNarain_Thesis.pdf www2.parl.gc.ca/content/lop/.../prb05103-e.pdf 20
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  22. 22. Rakshith E, Revesh Gumme, Suresh A M 22

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