Optimizing CO₂ Storage: Energy Efficiency and Cost Analysis Unveiled

What is it about?

The research utilized Aspen series software to simulate and compare three carbon dioxide (CO₂) storage processes within a carbon capture, utilization, and storage (CCUS) project with an annual capacity of one million tons. The processes analyzed included high-pressure liquid carbon dioxide storage (HPLCD), optimized liquid carbon dioxide storage (OLCD), and hydrate carbon dioxide storage (HCD). Specific power consumption (SPC), energy efficiency, annual total cost, net present value (NPV), and internal rate of return (IRR) were evaluated for each process. The HCD process demonstrated the lowest SPC and the highest energy efficiency, with the SPC values recorded at 0.0614, 0.0958, and 0.0895 kWh/kg CO₂ for HCD, HPLCD, and OLCD, respectively. Economic analysis revealed that the HCD process had the lowest annual total cost, and it achieved the highest NPV and IRR values, indicating superior investment value. Sensitivity analysis underscored that CO₂ profit was the most sensitive factor affecting NPV and IRR. Overall, the HCD process emerged as the optimal CO₂ storage method, offering significant advantages in terms of energy consumption and economic returns.

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Photo by Marcin Jozwiak on Unsplash

Photo by Marcin Jozwiak on Unsplash

Why is it important?

This study is important as it addresses the critical need to enhance the efficiency and economic viability of carbon capture, utilization, and storage (CCUS) technologies. By simulating and comparing CO₂ storage processes, the research contributes to reducing the energy consumption and costs associated with CO₂ storage, an essential component of the CCS process. These improvements are vital for the broader implementation of CCS technologies, which play a crucial role in mitigating carbon emissions and combating global warming. The findings provide valuable insights into optimizing storage processes, potentially leading to more sustainable and cost-effective solutions in the fight against climate change. Key Takeaways: 1. Optimal Storage Process: The hydrate carbon dioxide storage (HCD) process demonstrated the lowest specific energy consumption and highest energy efficiency among the evaluated processes, making it the most efficient CO₂ storage method at the studied scale. 2. Economic Viability: The HCD process also presented the lowest annual total cost and the highest net present value (NPV) and internal rate of return (IRR), indicating its superior investment value compared to other storage methods. 3. Sensitivity Insights: Sensitivity analysis revealed that CO₂ profit was the most influential factor on the economic performance of the storage processes, with the HCD process consistently showing the most favorable outcomes in varying conditions.