Evaluating carbon dioxide capture and storage technology options with an energy-economy model

Carbon dioxide (CO2) capture and storage technologies, which allow for the capture of CO2 from fossil-fuel-burning power plants and long-term storage in saline aquifers, provide an alternative of a de-carbonated economy rather than the complete replacement of our fossil fuel based economy with renewable technologies. While Canada is well situated to benefit from such technologies---we have several large saline aquifers in close proximity to large CO2 emitters---uncertainties exist regarding the capital and operating costs of such technologies, the geological attributes of storing CO2 in saline aquifers, and the societal response to such technologies. This research reviews these uncertainties, develops a series of scenarios to reflect the range of the uncertainties, and determines the potential economic consequences of these scenarios using CIMS, an energy-economy model.; Results from the assumptions used in this study reveal that: (1) CO 2 capture and storage technologies may be implemented through the retrofitting of existing technologies; (2) these technologies were out-competed by renewable technologies in competing for new energy markets and that no new fossil-fuel-burning power plants or greenfield plants would be constructed; (3) the cost of achieving an emission reduction target for Canada of 181 megatonnes NO of CO2 varied from 164 to 176 {dollar}/t of CO 2 reduced, depending on the cost of CO2 capture and storage; and (4) in all scenarios, capture and storage technologies accounted for at least 27% of the total reductions achieved in the electricity sector.