PNNL

Abstract

In this paper, we describe an integrated probabilistic risk assessment methodological framework and a decision-support tool suite for implementing systematic comparisons of competing carbon capture technologies. Culminating from a collaborative effort among national laboratories under the Carbon Capture Simulation Initiative (CCSI), the risk assessment framework and the decision-support tool suite encapsulate three interconnected probabilistic modeling and simulation components. The technology readiness level (TRL) assessment component identifies specific scientific and engineering targets required by each readiness level and applies probabilistic estimation techniques to calculate the likelihood of graded as well as nonlinear advancement in technology maturity. The technical risk assessment component focuses on identifying and quantifying risk contributors, especially stochastic distributions for significant risk contributors, performing scenario-based risk analysis, and integrating with carbon capture process model simulations and optimization. The financial risk component estimates the long-term return on investment based on energy retail pricing, production cost, operating and power replacement cost, plan construction and retrofit expenses, and potential tax relief, expressed probabilistically as the net present value distributions over various forecast horizons.