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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This in effect provides a database of every possible NPV result for each case, in which each result is considered to be equi-probable. Equally, none of the potential external costs of sequestration are included all of which would make CCS less attractivefrom a full life-cycle environmental, social and economic perspective. Hence, widespread discussions are currently underway worldwide to put in place mechanisms which will effectively put a price on carbon emissions to the atmosphere.
As shown, the capture ready case value is highly dependent on carbon price and the timing of the retrofit. There is a wide range of technological options available which can be used in a variety of industries and applications—indeed CCS is not applicable to every industry. e.hardisy
The Environmental and Economic Sustainability of Carbon Capture and Storage
Two of the largest and most successful projects have been offshore, both in Norway, where a significant and long-standing carbon pricing mechanism since has helped to drive development of CCS. 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. Support Center Support Center. It is perhaps in the combination of all of these elements into a fully-integrated project that the main challenges for CCS arise.
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How do I find a book? 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. The full life-cycle cost of CCS must be considered in the context of the overall social, environmental and economic benefits which it creates, and the costs associated with environmental and social risks it presents. In this case, the costs of implementation are simply too high to provide value for society—in fact, all CCS cases, retro-fit and greenfield, are more than a billion dollars worse, in present value terms, than business-as-usual under base case conditions.
The student resources previously accessed via GarlandScience. Can I get a copy? Ultimately, the solutions to problems of the 21st 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.
The valuation of these additional atmospheric benefits is discussed in more detail in the following example. Summary Never before has the quest to balance the needs of people, the environment, and the economy been so important. By the end of the century, Australian GNP is higher than it would have been without mitigation.
The title will be removed from your cart because it is not available in this region. Abstract For carbon capture and storage CCS to be a truly effective option in our efforts to mitigate climate change, it must be sustainable. In this case the question becomes which of a wide variety of CCS options envjronmental provides the best long term environmental, social and financial outcome.
Technical Study, Report No. Sensitivity Analysis Any analysis of this type is inherently subject to uncertainty.
Paul E Hardisty
As shown in Table sustainabilutynot all are applicable to post-combustion capture, and not all are commercially available. All of these external costs would make CCS more costly from an overall environmental, social and economic perspective, over the long term.
A wide range of currently available capture technologies was considered. The proportion of overall energy requirements provided by fossil fuels has actually increased over this period, despite full and growing knowledge of the risks posed by climate change.
While sustainability has been widely taken up by governments and business, the world has continued to move in increasingly unsustainable directions, from continued dependence on fossil energy to rising greenhouse gas emissions, and erosion economlc biodiversity.
We provide complimentary e-inspection copies of primary textbooks to instructors considering our books for course adoption. Product pricing will be adjusted to match the corresponding currency. Order a copy Copyright or permission restrictions may apply. From this perspective, sensitivity analysis is important because it allows the overall conclusions of the analysis to be tested across a wide range of parameter inputs.
But what matters are the benefits that result from that expenditure, not only e.hardistu the emitters, but to society as a whole. While carbon emission reduction is the chief benefit of CCS, removal of other air pollutants such as oxides of nitrogen and sulphur, particulates, and even heavy metals, may also occur as a e.uardisty of capturing and treating effluents.
Capture A wide range of currently available capture technologies was considered. CCS is an expensive proposition, no matter how it is applied, both in terms of up-front capital costs, and in terms of the significant amounts of energy required to capture CO 2. Base NPV differences between capture ready retrofit and capture unready plants. This elevates the analysis beyond a simple comparison of the cost per tonne of CO 2 abated—there are inherent tradeoffs with a range of other factors such as water, NOx, SOx, biodiversity, energy, and human health and safety, among others which must also be considered if we are to achieve truly sustainable mitigation.
The Environmental and Economic Sustainability of Carbon Capture and Storage
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 of abatement, but also explicitly valuing the environmental and social externalities affected by each option [ 13 ].
Brownfield Redevelopment in Canada Case History: 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. The availability of a well characterized down-dip part of the producing reservoir for geo-sequestration added significantly to the overall technical feasibility of CCS.
The results cover the full economic analysis inclusive of financial and social costs and benefits, and with transfer payments removed. But there is a fundamental difference between the value of something and its price. Pascala S, Socolow R.
The least preferred scenario included dedicated infrastructure, poor sequestration reservoir performance, and high estimates for capture costs, while the preferred scenario involved shared infrastructure with unit costs approximately one-third lower than dedicated infrastructurelow-end estimates of capture costs and optimal reservoir performance.
Sustainabillity has been slow and insufficient because we do not want to pay the price of action. We have the technology now to significantly reduce emissions. Of these, however, only seven projects are currently in the operational stage; the remainder are in the evaluation, definition, or execution stages. Strategically, this serves to put CCS into overall context as just one of many possible ways that the GHG intensity of an operation can be reduced.
A summary of the results of recent studies is provided in Table 1. Maximum injection is planned for 20 Mt, with 8 Mt injected to date.