Levelized Cost Analysis for Blast Furnace CO<sub>2</sub> Capture, Utilization, and Storage Retrofit in China’s Blast Furnace–Basic Oxygen Furnace Steel Plants
As the largest carbon emitter in China’s manufacturing sector, the low-carbon transition of the steel industry is urgent. CO<sub>2</sub> capture, utilization, and storage (CCUS) technology is one of the effective measures to reduce carbon emissions in steel industry. In this paper, a com...
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| Format: | Article |
| Language: | English |
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MDPI AG
2023-11-01
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| Series: | Energies |
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| Online Access: | https://www.mdpi.com/1996-1073/16/23/7817 |
| _version_ | 1797400247597531136 |
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| author | Changwan Gu Jingjing Xie Xiaoyu Li Xu Gao |
| author_facet | Changwan Gu Jingjing Xie Xiaoyu Li Xu Gao |
| author_sort | Changwan Gu |
| collection | DOAJ |
| description | As the largest carbon emitter in China’s manufacturing sector, the low-carbon transition of the steel industry is urgent. CO<sub>2</sub> capture, utilization, and storage (CCUS) technology is one of the effective measures to reduce carbon emissions in steel industry. In this paper, a comprehensive assessment model of source–sink matching-levelized cost in China’s steel industry is constructed to evaluate the potential, economy, and spatial distribution of CCUS retrofits of blast furnaces in the BF-BOF steel industry. The results show that, if no extra incentive policy is included, the levelized cost of carbon dioxide (LCOCD) of 111 steel plants with a 420.07 Mt/a CO<sub>2</sub> abatement potential ranges from −134.87 to 142.95 USD/t. The levelized cost of crude steel (LCOS) range of steel plants after the CCUS retrofits of blast furnaces is 341.81 to 541.41 USD/t. The incentives such as carbon market and government subsidies will all contribute to the early deployment of CCUS projects. The CCUS technology could be prioritized for deployment in North China, Northwest China, and East China’s Shandong Province, but more powerful incentives are still needed for current large-scale deployment. The research results can provide references for the early deployment and policy formulation of CCUS in China’s steel industry. |
| first_indexed | 2024-03-09T01:51:44Z |
| format | Article |
| id | doaj.art-508a9fb1b40f4fb3bc97b9748ef05b78 |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-03-09T01:51:44Z |
| publishDate | 2023-11-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-508a9fb1b40f4fb3bc97b9748ef05b782023-12-08T15:14:56ZengMDPI AGEnergies1996-10732023-11-011623781710.3390/en16237817Levelized Cost Analysis for Blast Furnace CO<sub>2</sub> Capture, Utilization, and Storage Retrofit in China’s Blast Furnace–Basic Oxygen Furnace Steel PlantsChangwan Gu0Jingjing Xie1Xiaoyu Li2Xu Gao3School of Energy and Mining Engineering, China University of Mining and Technology, Beijing (CUMTB), Beijing 100083, ChinaSchool of Energy and Mining Engineering, China University of Mining and Technology, Beijing (CUMTB), Beijing 100083, ChinaSchool of Environment, Tsinghua University, Beijing 100084, ChinaRailway Engineering Research Institute, China Academy of Railway Sciences Corporation Limited, Beijing 100081, ChinaAs the largest carbon emitter in China’s manufacturing sector, the low-carbon transition of the steel industry is urgent. CO<sub>2</sub> capture, utilization, and storage (CCUS) technology is one of the effective measures to reduce carbon emissions in steel industry. In this paper, a comprehensive assessment model of source–sink matching-levelized cost in China’s steel industry is constructed to evaluate the potential, economy, and spatial distribution of CCUS retrofits of blast furnaces in the BF-BOF steel industry. The results show that, if no extra incentive policy is included, the levelized cost of carbon dioxide (LCOCD) of 111 steel plants with a 420.07 Mt/a CO<sub>2</sub> abatement potential ranges from −134.87 to 142.95 USD/t. The levelized cost of crude steel (LCOS) range of steel plants after the CCUS retrofits of blast furnaces is 341.81 to 541.41 USD/t. The incentives such as carbon market and government subsidies will all contribute to the early deployment of CCUS projects. The CCUS technology could be prioritized for deployment in North China, Northwest China, and East China’s Shandong Province, but more powerful incentives are still needed for current large-scale deployment. The research results can provide references for the early deployment and policy formulation of CCUS in China’s steel industry.https://www.mdpi.com/1996-1073/16/23/7817carbon capture, utilization, and storage (CCUS)steel plantblast furnacesource–sink matchinglevelized cost |
| spellingShingle | Changwan Gu Jingjing Xie Xiaoyu Li Xu Gao Levelized Cost Analysis for Blast Furnace CO<sub>2</sub> Capture, Utilization, and Storage Retrofit in China’s Blast Furnace–Basic Oxygen Furnace Steel Plants Energies carbon capture, utilization, and storage (CCUS) steel plant blast furnace source–sink matching levelized cost |
| title | Levelized Cost Analysis for Blast Furnace CO<sub>2</sub> Capture, Utilization, and Storage Retrofit in China’s Blast Furnace–Basic Oxygen Furnace Steel Plants |
| title_full | Levelized Cost Analysis for Blast Furnace CO<sub>2</sub> Capture, Utilization, and Storage Retrofit in China’s Blast Furnace–Basic Oxygen Furnace Steel Plants |
| title_fullStr | Levelized Cost Analysis for Blast Furnace CO<sub>2</sub> Capture, Utilization, and Storage Retrofit in China’s Blast Furnace–Basic Oxygen Furnace Steel Plants |
| title_full_unstemmed | Levelized Cost Analysis for Blast Furnace CO<sub>2</sub> Capture, Utilization, and Storage Retrofit in China’s Blast Furnace–Basic Oxygen Furnace Steel Plants |
| title_short | Levelized Cost Analysis for Blast Furnace CO<sub>2</sub> Capture, Utilization, and Storage Retrofit in China’s Blast Furnace–Basic Oxygen Furnace Steel Plants |
| title_sort | levelized cost analysis for blast furnace co sub 2 sub capture utilization and storage retrofit in china s blast furnace basic oxygen furnace steel plants |
| topic | carbon capture, utilization, and storage (CCUS) steel plant blast furnace source–sink matching levelized cost |
| url | https://www.mdpi.com/1996-1073/16/23/7817 |
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