Based on the operating data of a 40 tCO2/day (2 megawatt (MW)) class carbon capture and utilization (CCU) pilot plant, the scaled-up 400 tCO2/day (20 MW) class CCU plant at 500 MW power plant was economically analyzed by applying the levelized cost of energy analysis (LCOE) and CO2 avoided cost. This study shows that the LCOE and CO2 avoided cost for 400 tCO2/day class CCU plant of mineral carbonation technology were 26 USD/MWh and 64 USD/tCO2, representing low LCOE and CO2 avoided cost, compared to other carbon capture and storage CCS and CCU plants. Based on the results of this study, the LCOE and CO2 avoided cost may become lower by the economy of scale, even if the CO2 treatment capacity of the CCU plant could be extended as much as for similar businesses. Therefore, the CCU technology by mineral carbonation has an economic advantage in energy penalty, power plant construction, and operating cost over other CCS and CCU with other technology.

This study introduces a novel methodology to calculate the carbon dioxide (CO2) emission reduction related to residual emissions, calculating the CO2 emission reduction through a 2 MW (40 tCO2/day) carbon capture and utilization (CCU) plant installed at a 500 MW coal-fired power plant in operation, to evaluate the accuracy, maintainability, and reliability of the quantified reduction. By applying the developed methodology to calculate the CO2 emission reduction, the established amount of CO2 reduction in the mineral carbonation was evaluated through recorded measurement and monitoring data of the 2 MW CCU plant at the operating coal-fired plant. To validate the reduction, the accuracy, reproducibility, consistency, and maintainability of the reduction should be secured, and based on these qualifications, it is necessary to evaluate the contribution rate of nationally determined contributions (NDCs) in each country. This fundamental study establishes the concept of CCU CO2 reduction and quantifies the reduction to obtain the validation of each country for the reduction. The established concept of the CCU in this study can also be applied to other CCU systems to calculate the reduction, thereby providing an opportunity for CCU technology to contribute to the NDCs in each country and invigorate the technology.