Never before has the quest to balance the needs of people, the environment, and the economy been so important. While sustainability has. The Environmental and Economic Sustainability of Carbon. Capture and Storage. Paul E. Hardisty 1,2,*, Mayuran Sivapalan 3 and Peter. Available in the National Library of Australia collection. Author: Hardisty, Paul E; Format: Book; xxi, p.: ill. ; 25 cm.
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In addition, the wider external costs and benefits must be taken into consideration if the real value, and therefore the environmental and economic sustainability, of the action is to be understood. For sensitivity analysis, high and low ranges are also provided for each key parameter.
However, operators will have little incentive to deploy CCS unless the social value of carbon is wholly or partially reflected in a regulated price on carbon. It should be stressed that the costs included for the CCS Cases 1—7 are for capture only—and do not include any of the sometimes significant costs for CO 2 transport and disposal. In addition, there is also a range of potential external costs associated with deep geological disposal of CO 2.
Coal-Fired Power Station Retrofit An existing coal-fired power station in Australia was examined in a detailed engineering, economic and sustainability feasibility study to determine the practicality of applying CCS to dramatically reduce GHG emissions.
WorleyParsons; North Sydney, Australia: The valuation of these additional atmospheric benefits is discussed in more detail in the following example. The examples presented above examine the wider environmental and economic implications of applying CCS in various applications. Common terms and phrases achieve aquifer assets Australia base case value benefits of remediation biodiversity CAPEX Chapter climate change CO2e considered contamination cost of carbon costs and benefits damage decision DEFRA desalination disbenefit discount rate discussed disposal ecological economic and sustainable economic sustainability assessment ecosystem services ecosystems EESA effects environment environmental and social estimated examined example external costs facility Figure fossil fuel freshwater future GHG emissions global groundwater Hardisty impacts improve increase industry issues landfill Libya million monetization NAPL natural natural capital nomic operation option overall parameters planet planning horizon pollution production range reduce regulatory remedial approach renewable energy result sensitivity analysis significant social costs society stakeholders Stern Review Table TEV of water tion treatment u.
Case 8 should be done now—it is already economically positive. However, the key to the EESA is to reveal not absolutes in terms of dollars, but better and worse decisions overall, compared to the range of possible decisions that could be made.
Only if the social cost of carbon is sufficiently reflected in an effective price for carbon, and if it rises significantly over time, will the operator, in this example, be able to justify deploying CCS. For retrofit options, these figures include lost revenue from down-time, and assume a retrofit date of Informed public opinions on CCS in comparison to other mitigation options. CCS has been widely identified as a significant potential contributor to global strategies aimed at reducing emissions of GHG to the atmosphere.
Environmental and Economic Sustainability
Table 7 shows the proportion of all conditions where a case is the most economic, or second most economic case, considering all possible combination of all values across their full range. Stationary fossil-fuel powered energy and large scale petroleum industry operations are two examples of industries which could benefit from CCS.
Case studies Management of produced water in the oil and gas industry in the Middle East Management of wastewater in a water utility in Australia Power generation and carbon management in an energy utility in Australia Remediation of contaminated gas works in the UK Energy savings and carbon management in heavy oil processing Ultimately, the solutions to problems of the 21 st century will come from understanding the tremendous value that the environment provides, and reflecting that value within decision-making at every level so that society as a whole thrives.
This is a marginal assessment — the revenues generated by the sale of LNG are not included; only the differences associated with GHG management are considered. Exclusive web offer for individuals.
Please accept our apologies for any inconvenience this may cause. Costs to paup global economy of inaction are permanent, irreversible, and catastrophic. The main requirements for being carbon capture ready are that sufficient space and access are provided for future deployment of capture equipment and systems.
In these examples, the Environmental and Economic Sustainability Assessment EESA method is used, in which various options are considered by not only examining conventional financial costs pqul abatement, but also explicitly valuing the environmental and social externalities affected by each option [ 13 ]. A permitted and available geo-sequestration site was assumed to exist approximately km from the power station. The author demonstrates how to apply EESA using examples across a number of major industries, including petroleum, mining, and public utilities, and covering key issues such as water, greenhouse gases, waste, contaminated sites, and renewable energy.
The monoethanolamine system puts a significant additional energy demand on the plant.
Stern [ 6 ]. Management of produced water in the oil and gas industry in the Middle East Management of wastewater in a water utility in Australia Power generation and carbon management in an energy utility in Australia Remediation econmic contaminated gas works in the UK Energy savings and carbon management in heavy oil processing. Clearly, retrofitting a capture ready plant with CCS technology is more economic than on a carbon capture unready plant, no matter what year the retrofit is made.
Where an option shows positive NPV, it performs that much better than the reference case, over the year life cycle. The environmental and economic sustainability of CCS is a function of many factors, including the timing of deployment, the value placed on carbon, fuel and energy prices, the costs of disruptions to the business during retrofit, and the external costs of sustainaiblity associated air emissions and possible releases from storage sites.
Technical Overview of Options In this analysis, seven CCS cases were examined and compared in terms of effectiveness and cost, and put into environ,ental larger context by including four other ways of reducing GHG emissions from sustainabilitty facility.
This analysis, for a real facility, using technology available now, shows that under present policy positions, retrofitting existing coal-fired power stations is a not financially viable proposition for operators.
The results cover the full economic analysis inclusive of financial and social costs and benefits, and with transfer payments removed.
Paul E Hardisty
Abstract For carbon capture and storage CCS to be a truly effective option in our efforts to mitigate climate change, it must be sustainable. Implications For this facility, the analysis reveals that the environmentally, socially and economically optimum approach would be to implement Case 8 best-in-class energy efficiency design across the facility and Case 1 CCS of CO 2 contained in the reservoir gaseither alone or in combination.
The Economics of Groundwater Remediation and Protection. Much of the focus on CCS to date has been in the area of government funded research and development, both in terms of capture technology, and in studying the long term fate and mobility of CO 2 in various subsurface environments. Management of produced water in the oil and gas industry in the Middle East Management of wastewater in a water utility in Australia Power generation and carbon management in an energy utility in Australia Remediation of contaminated gas works in the UK Energy savings and carbon management in heavy oil processing.
While there are many different ways for the power and energy industries to eliminate carbon emissions to atmosphere, they come at radically different costs, and produce different benefits to society.
Environmental and Economic Sustainability – CRC Press Book
An existing coal-fired power station in Australia was examined in a detailed engineering, economic and sustainability feasibility study to determine the practicality of applying CCS to dramatically reduce GHG emissions. Discussion The examples presented above examine the wider environmental and economic implications of applying CCS in various applications.
Climate Change AR4: Since Aprilaround 0.
We have the technology now to significantly reduce emissions. Also recall that the financial and external costs of transport and storage would have to be added to the figures shown, which would in all cases raise the threshold value for CCS implementation.
The Sleipner capture and storage gas processing facility, operational sinceis one of the global pioneers of CCS. In the context of current estimates of the social cost of carbon, CCS does not appear to be viable for managing emissions from facility liquefaction and compression. Associated benefits from the elimination of other types of air-emissions that would occur as part of GHG reductions lower emissions of particulates, soot, NOx and SOx from power plants, for instanceand the value of benefits of biodiversity and ecosystem protection, for instance, are rarely considered, but could be significant.