Even though almost all components of an Integrated Gasification Combined Cycle (IGCC) power plant are proven and mature technologies, the sheer number of them, the wide variety of competing technologies (e.g., gasifiers, gas clean-up systems, heat recovery options), system integration options (e.g., cryogenic air separation unit and the gas turbine) including the recent addition of carbon capture and sequestration (CCS) with its own technology and integration options render fundamental IGCC performance analysis a monumental task. Almost all published studies utilize highly complex chemical process and power plant heat balance software, including commercially available packages and in-house proprietary codes. This makes an objective assessment of comparable IGCC plant designs, performance (and cost) and other perceived advantage claims (IGCC versus other technologies, too) very difficult if not impossible.
This paper develops a coherent simplified parametric model based on fully physics-based grounds to be used for quick design performance assessment of a large variety of IGCC power plants with and without CCS. Technology parameters are established from complex model runs and supplemented by extensive literature search. The model is tested using published data to establish its confidence interval and is satisfactory to carry conceptual design analysis at a high level to identify promising alternatives, development areas and assess the realism in competing claims.
Use of Real Options in Nuclear Power Plant Valuation in the Presence of Uncertainty with CO2Emission Credit