Based On The Life Cycle Cost Theory And Value Engineering Of Coal-fired Power Plant’s Carbon Capture And Sequestration Technology Reform Investment Research

With global warming is more and more serious and greenhouse gas emissionsbecome the focus of attention. At present the power industry of carbon capture andsequestration technology (CCS) will greatly reduce carbon dioxide emissions, slowingdown the disastrous consequences by world’s climate warming. Therefore, in order toadapt to the development trend of low carbon, the reasonable reconstruction ofconventional coal fired power plant is important.Firstly, this paper introduces the background and significance of conventionalcoal fired power plants’ CCS transformation; secondly, summarizes the principle andresearch status of CCS. The article introduces the life cycle cost theory and valueengineering to analysis the feasibility and scientific nature of conventional coalplants’ CCS transformation. From the point of view of designers，it establishes the lifecycle cost (life cycle cost, LCC) model of conventional coal fired power plants’ CCStransformation and divides LCC into initial investment cost, operation cost, cost ofmaintenance, fault cost, fuel costs and retired disposal costs. Moreover, the Modelfully considers the influence of CO2emissions reduction benefits, strengthening theoil displacement efficiency gains and when the failure of the carbon capture system tojoin the effect of CO2emissions punish factor. An example has been taken forcomparing the LCC of the coal-fired power plants’ transformation plan about aftercombustion capture and before burning capture and makes use of the LCC minimumprinciple to choose after burning capture reform plan. From the point of view ofinvestors, through the sensitivity analysis, six key factors have been taken as decisionvariables. According to the after combustion capture reconstruction plan, a model isestablished based on the value engineering, that is, constructs the ratio functionbetween the function of CCS projects and LCC, And using nonlinear programmingmethod to optimize the life cycle cost and improve the value of reform projects.According to the advantage of heuristic algorithm to solve the optimization problem,the article uses the adaptive chaotic particle swarm algorithm to optimize thenonlinear objective function. Finally, the result has been compared with the nonlinearprogramming methods’.This article uses the adaptive chaotic particle swarm algorithm to optimize thefunction. Meanwhile, the result has been taken for comparison with the former one.According to the realized value, the nonlinear programming method is higher than adaptive chaotic particle swarm algorithm, but value-cost ratio, adaptive chaoticparticle swarm algorithm is slightly higher than the nonlinear programming method.Three example analysis results show that the LCC of the after burning captureprojects is lowest. The analysis results provide a detailed theoretical basis forconventional coal fired power plant’s CCS transformation projects, the conclusionscan instruct the practice in some degree.