Multi-level investment planning and scheduling under electricity and carbon market dynamics: Retrofit of a power plant with PCC (post-combustion carbon capture) processes

This paper addresses four levels in carbon management decision-making: government, enterprise, plant, and process. Robust decision-making at any level requires consideration of the constraints and requirements of other levels. The focus of the paper is the enterprise level, when a power generating company wishes to develop its long term carbon management strategy. The carbon reduction option is solvent-based PCC (post-combustion carbon capture), which has been discussed as the most accessible option for CCS (carbon capture and storage) objectives. The company desires to know whether/when/how to invest in PCC processes in order to satisfy government emission reduction regulations while achieving the maximum economic benefits over the planning horizon.