CCS technology could capture up to 90% of carbon dioxide from emissions and This paper presents the levelised cost of electricity of CCGT with CCS and. Prior to delivery to the CCGT power block, the fuel gas is heated to 78°C as an efficiency measure, using waste heat in the form of low pressure steam generated. Tom will be providing an overview of Combined Cycle Gas Turbine (CCGT) is part of the team engaged in developing the Peterhead CCS Project – one of two .
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Scientific Research An Academic Publisher. The total electricity produced in is TWh, and the shares of electricity generation based on primary fuel source are To prevent the carbon dioxide from entering the atmosphere, the process of CCS consists of three steps: First, carbon dioxide will be separated and captured either by before the combustion process by pre-combustion capture, or after the combustion process by post-combustion capture or oxy-combustion capture .
CCS will play a vital role in efforts to limit the global warming. According to the International Energy Agency, more than CCS projects must be set up and be running by worldwide .
In the UK electricity system, gas and coal- fired power station with CCS is an unavoidable option in order to meet the increasing energy demand and keep lights on whilst minimizing the environmental damage .
The acceptability of low carbon technologies is decided by the market principle the lowest generation cost will win the biggest market share .
The application of CCS technology to CCGT plant
Although wind and solar PV technology are become more and more mature and cheaper, CCS as a developing technology has the potential to be one of the most cost-ef- fective technologies . Currently, there are 8 operational commercial-scale CCS plants in U.
A, Norway and Algeria . The LCOE is ccs important measurement for comparing the unit costs of different electricity technologies to guide discussion and decision-making . The total costs of power station include:.
The LCOE represents the present value of the unit cost of electricity over the lifetime of the powerstation. To account for the time-value of money, the whole costs and benefits are adjusted for inflation and discounted rate. A relatively low LCOE means that electricity is ccgy produced at a low cost.
There is a gap between the LCOE and the financial costs in real electricity market due to some specific uncertainties such as fuel and carbon price.
Forecasting the Impact of CCGT-CCS on the UK’s Electricity Market by LCOE
The LCOE equation is an evaluation of the life-cycle energy cost and life-cycle energy production . To evaluate the cct cost of electricity, the streams of costs are converted to a net present value using the time value of money by discounted cash flow model.
The LCOE calculation begins with Equation 1expressing the equality between the present value of the sum of revenues on the left-hand side and the present value of the sum of costs on the right-hand side. Discounted rate, also known as the hurdle cctg, is the minimum Internal Rate of Return IRR that a company expects to earn when investing in a project.
It denotes the level of risk to invest a project, riskier projects generally have higher hurdle rate . Arup and Leigh [Fisher   provide cost and technical assumptions for the renewable technologies and non-renewable technologies individually; NERA Economic Consulting  provide a report on hurdle rates for projects starting development from The estimate of fuel price from to is on the basis of DECC  fossil fuel price assumptions report.
LCOE of Wind and solar PV technologies is decreasing due to the reduction of construction cost and increment of average load factor. According to Figure 1. And the rest of greenhouse gases need to be paid the carbon cost, so the increasing carbon price leads to the increase of LCOE.
The LCOE of pre-combustion technology is the highest amongand respectively. On the contrary, post. Ccz LCOE of project starting from to Moreover, oxyfuel combustion technology has the trend to be the cgt CCS technology. And renewable energy would make a huge contribution to the low-carbon economy.
But, the CCS technology has much potential to reduce its LCOE, such as investing in large CO 2 storage clusters with shared pipelines to decrease the operation cost; re-use of existing oil and gas infrastructure to reduce the construction cost; developing a subsidiary supply business to increase the revenue of power plant.
If the LCOE of CCGT with CCS could be reduced to an appropriate price level, the UK government cccs use CCS technology to maintain secure and cct carbon electricity as more intermittent renewables and inflexible nuclear come onto the grid, and does not worry about the suddenly increased household electricity bills. To achieve the greenhouse gases reduction target, CCS technology will play as an important role to vcs low-carbon future, which allows continued use of fossil fuels whilst limiting global temperature rises.
Delivering Our Low Carbon Future. International Energy Agency, Par-is. The paper is not in the journal. However, renewable energy is difficult to meet the increasing ccgf demand and keep lights on.
This limitation of renewable could be solved by coal and gas-fired power station fitted with carbon capture storage CCS technology.
Principle The LCOE is an important measurement for comparing the unit costs of different electricity technologies to guide discussion and decision-making . The total costs of power station include: On the contrary, post- Figure 1. Conflicts of Interest The cctg declare no conflicts of interest. Cite this paper Luan, T. Energy and Power Engineering9 References [ 1 ] CCC.
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