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

Abstract

Based on the operating data of a 40 tCO2/day (2 megawatt (MW)) class carbon capture and utilization (CCU) pilot plant, the scaled-up 400 tCO2/day (20 MW) class CCU plant at 500 MW power plant was economically analyzed by applying the levelized cost of energy analysis (LCOE) and CO2 avoided cost. This study shows that the LCOE and CO2 avoided cost for 400 tCO2/day class CCU plant of mineral carbonation technology were 26 USD/MWh and 64 USD/tCO2, representing low LCOE and CO2 avoided cost, compared to other carbon capture and storage CCS and CCU plants. Based on the results of this study, the LCOE and CO2 avoided cost may become lower by the economy of scale, even if the CO2 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.