Current and prospective costs of electricity generation until 2050

Given the dominance of power plant emissions of greenhouse gases, and the growing worldwide interest in CO2 capture and storage (CCS) as a potential climate change mitigation option, the expected future cost of power plants with CO2 capture is of significant interest. Reductions in the cost of technologies as a result of learning-by-doing, RD coal-based integrated gasification combined cycle (IGCC) plants with pre-combustion capture; and coal-fired oxyfuel combustion for new PC plants. We first assess the rates of cost reductions achieved by other energy and environmental process technologies in the past. Then, by analogy with leading capture plant designs, we estimate future cost reductions that might be achieved by power plants employing CO2 capture. Effects of uncertainties in key parameters on projected cost reductions also are evaluated via sensitivity analysis.

Use of experience curves to estimate the future cost of power plants with CO2 capture

Energy models are valuable tools that are commonly employed for the optimal design of distributed energy systems (DES). However, the model-based design process of DES can be affected by uncertainty, which can lead to suboptimal design decisions and is introduced by aspects like the stochastic nature of renewables or the unknown future global energy and economy outlook. A critical first step of any effort to examine and incorporate uncertainty in the design process of DES includes the performance of a thorough uncertainty characterisation (UC). The UC task comprises the identification of the sources of uncertainty in the model's parameters and the assignment of a mathematical description to their uncertainty. The aim of this paper is to identify and categorise the most important uncertain parameters in typical DES design models and review the approaches used in the literature to represent their uncertainty. The uncertain aspects investigated pertain to the availability of renewable energy (wind and solar), the economic and environmental dimensions of energy carriers in a DES, the costs and technical characteristics of the technologies composing a DES, and, finally, the uncertain energy demands that a DES must satisfy. The analysis reveals the diversity and the varying complexity levels of the approaches used to characterise each parameter's uncertainty, as well as the specific parameters on which studies in the literature have mostly focused. Additionally, this review can serve to assist modellers who wish to introduce uncertainty considerations in their DES design model with the selection of appropriate UC approaches. Finally, in discussing the results of this review, directions for more effective UC in DES design are discussed, as well as suggestions for the integration of uncertainty in the design process of DES.

A review of uncertainty characterisation approaches for the optimal design of distributed energy systems

A novel modeling based real option approach for CCS investment evaluation under multiple uncertainties

Comparison of subsidy schemes for carbon capture utilization and storage (CCUS) investment based on real option approach: Evidence from China

Carbon capture and storage—Investment strategies for the future?

Hydrogen Based Direct Iron Ore Reduction Plant Simulation

Abstract The present paper focuses on developing a novel virtual representation framework for optimizing standalone hazardous waste rotary kiln incineration plants. A digital support tool can be provided to optimize the plant's waste management, operation, and maintenance by combining thermochemical-based simulation models with a fuel classification system. First of all, the virtual representation can be used to determine the waste composition of not entirely analyzed waste streams. Furthermore, the determined waste compositions of historically fed waste streams can be used to enable further advanced applications. The determined waste compositions are linked with the appropriate waste code and supplier, which first enables the monitoring of the delivered waste streams. In the case of recurring fractions, the virtual representation can be used to optimize the barrel sequence to reach homogenous waste inputs. Additionally, the plant operation can be optimized regarding stable operation conditions due to the knowledge about waste compositions of recurring fractions. The parametrization results fit very well with the comparable sensor values. Therefore, the novel virtual representation of the hazardous waste incineration plant could definitely make a reasonable contribution to optimize the efficiency of thermal waste treatment within the hazardous waste sector in Austria and Europe. Graphical Abstract 

/pdf/thermal-twin-4-0-digital-support-tool-for-optimizing-3ndj49hw.pdf

Thermal Twin 4.0: Digital Support Tool for Optimizing Hazardous Waste Rotary Kiln Incineration Plants

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Carbon capture and storage—Investment strategies for the future?

Hydrogen Based Direct Iron Ore Reduction Plant Simulation

Thermal Twin 4.0: Digital Support Tool for Optimizing Hazardous Waste Rotary Kiln Incineration Plants