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Rewarding of extra-avoided GHG emissions in thermochemical biorefineries incorporating Bio-CCS

Abstract:

The incorporation of Bio-CCS, which involves an increase in investment and operating costs, would not be of interest in thermochemical biorefineries unless some economic benefit were provided. The rewarding of extra-avoided emissions encourages larger savings of GHG emissions in thermochemical biorefineries incorporating Bio-CCS. Therefore, there is a need for policies which reward of Bio-CCS incorporation, and in a broader sense, all extra-avoided emissions. In this study, we analyze how the geological storage of already captured CO2 (i.e. the incorporation of Bio-CCS) could be rewarded, taking different policy scenarios in the EU into consideration. Since thermochemical biorefineries achieve a GHG saving above the minimum target in the EU, the sale of all extra-avoided GHG emissions (not only from the geological storage of captured CO2) from energy carriers and chemicals is analyzed. Two different configurations of thermochemical biorefineries are analyzed: a biorefinery producing an energy carrier and a biorefinery co-producing an energy carrier and chemicals. Considering the sale of CO2 allowances in the European Emissions Trading Scheme (EU-ETS), current prices (5-15€/t) would not make Bio-CCS incorporation profitable. However, it would be profitable compare with current sequestration costs for conventional power plants (50-100€/t). If the sale of extra-avoided emissions from the production of energy carriers were included in the EU-ETS, the CO2 sequestration cost would be reduced, although not enough to enhance the process economy. If chemicals were included, the sequestration cost would decrease significantly.