Optimization-based framework for techno-economic and environmental assessment of CO₂ capture, utilization, and storage strategies

Carbon capture, utilization, and storage (CCUS) is one of the promising and effective solutions addressing climate change and energy security in the near-term. Since the CCUS technologies have different technological constraints for CO₂ sequestration, it is essential to apply a unified evaluation framework to assess and analyze various CCUS technologies in perspective of CO₂ disposal. In this study, we aim to assess and analyze the CCUS technologies in specific problems of maximizing net present value (NPV) and CO_2-eq reduction considering various constraints. This study developed an optimization-based framework to analyze and assess the CCUS technologies regarding technical, economic, and environmental performance. To achieve this goal, we developed a superstructure involving a series of technologies (e.g., CO₂ capture, transportation, CO₂ conversion, and separation) to storage and utilize captured CO₂. We then estimated the technical and economic parameters (i.e., mass flow, energy flow, sizing data and costing data) based on the literature and the process model by developed Aspen Plus. The optimization models were developed to identify the optimal CCUS strategies with different criteria: NPV, and CO_2-eq reduction. With scenario-based analysis, this study also determined that the priority of various CCUS technologies considering critical constraints such as the cost and CO_2-eq inventory of H₂ according to the resource of H₂ and utility. This paper offers actionable policy guidance with NPV and CO_2-eq reduction for high carbon-footprint nations considering the CCUS strategy.