Cost Estimation of CO2 Absorption Plants for CO2 Mitigation - Method and Assumptions

The estimates of post combustion CO2 capture costs reported in the literature range from 50 (sic)/tCO(2) to 128 (sic)/tCO(2), reflecting differences in the cost estimation methods used, scopes of the analyses, and assumptions made. This variation in calculated costs is important when evaluating the feasibility of a technology and highlights the importance of ensuring consistency and transparency in cost estimations. This study establishes a cost estimation tool that highlights the effects of different assumptions on the overall cost of a capture plant and identifies the crucial technical and economic factors. The input is a simplified process flow diagram and equipment list. Detailed installation factors and the equipment cost are the two main elements used to derive the capital expenditures (CAPEX), which represent a fundamental component of the cost estimation approach. A detailed installation factor sheet is used for the capital cost estimation. The method is applied to a Base case that involves the capture of CO2 from the flue gas of a process industry, giving a capture cost of 62.5 (sic)/tCO(2). The Base case results reveal that the steam cost, electricity cost, and capital cost are the main contributors. This method can provide an overview of the main cost drivers, and a sensitivity analysis of the variable input parameters can be performed simply and quickly. The results obtained using this method can be valuable in the early phase of the project and contribute to decision making.