Negative Emission Power Plants

Abstract

In our previous work (Part I), we evaluated the thermodynamic models of
the biomass-fed integrated gasification solid oxide fuel cell system
with a carbon capture and storage (BIGFC/CCS) unit. In this work (Part
II), the techno-economic analysis of the proposed negative emission
power plants is carried out. Levelized cost of electricity, net present
value (NPV), payback period, internal rate of return (IRR), and
levelized cost of negative carbon (LCNC) are the key economic parameters
evaluated. The results of a series of sensitivity analysis show the
impact of gasification agents and stepwise increase in biochar
co-production on the performance of the system. The total overnight cost
is estimated to be 6197 $/kW and 5567 $/kW for the air and steam-oxygen
gasification BIGFC/CCS systems, respectively. Steam-oxygen gasification
is found to be more economically beneficial than air gasification one
for all of the cases studied. Economically viable biochar co-production
cases are identified to ascertain the influence of capital cost,
operating cost, biomass cost, plant capacity factor, and tax. Moreover,
the effect of the carbon credit scenario on the economic indicators is
also reported. The results show that the most effective economic
performance from the steam-oxygen gasification case reported an NPV of
$3542/M, an IRR of 24.2%, and a payback period of 3.3 years, with an
LCNC of -322.5$/t of CO2. Compiling the results from Part I
and Part II shows that it is easier to achieve negative emission using
the steam-oxygen gasification of a BIGFC/CCS system. These results are
expected to be helpful for stakeholders in identifying appealing
negative emissions power plant projects for near and long-term future
investments.