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Prachi Singh
Citation: IEAGHG, "Incorporating Future Improvements in existing PC, Tech. Rev", 2013-TR5, May 2013.
This study intended to focus on the above mentioned process improvements and 2nd and 3rd generation technology evaluation. However, the work by Lucquiaud et al. 2012 focuses only on some of the above mentioned improvements such as improvements in amine based solvent properties like CO₂ absorption enthalpy, solvent heat capacity and CO₂ regeneration temperature by developing an equilibrium based model in gProms software. In this model each solvent property changes were performed independently to the other solvent properties. Table 1, shows the parameters used in the power plant and base case amine based solvent CO₂ post combustion capture plant.
It is not feasible to accurately predict details of future technical improvements, when they will occur, the nature of the plants which will want to be upgraded, the costs of implementing the upgrades or the benefits from doing so in future energy markets with any meaningful accuracy. Considerations to the capital cost implications of oversizing selected pieces of equipment have not been carried out, since they are unlikely to provide, at this stage of technology development, any meaningful answers. Instead, this work undertakes illustrative studies based on real option analysis method to illustrate the impact that future fuel prices, carbon prices, load factor and technology learning rates will have on the decision to incorporate future technology improvements in existing power plants with CCS. It is particularly noteworthy that it is appears that multiple upgrades may be worthwhile over the lifetime of a plant, based on the financial value of being able to choose to upgrade existing CCS power plants. These upgrades may occur to reduce the costs of operating CCS, and/or to guarantee that CCS power plant owners keep their license to operate by securing compliance with stricter environmental legislation, and/or to increase power plant revenue
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