Retrofitted CCS technologies enhance economy, security, and equity in achieving carbon zero in power sector

Retrofitting existing fossil fuel power plants with carbon capture and storage (CCS) technology could reduce carbon emissions while avoiding stranded asset, which will be important in facilitating a just transition of the global power sector. Although some studies have explored the cost-effectiveness and abatement potential of retrofitted CCS technologies, elaborate system modeling of full-chain retrofitted CCS technologies considering multiple technology types requires further research. Here, we developed an hourly-resolution intertemporal dynamic power system optimization model that elaborately considers three retrofitted CCS technologies for coal-fired and gas-fired power plant in addition to eleven power generation technologies and two energy storage technologies and applied it to evaluate the role of retrofitted CCS technologies in achieving carbon neutrality in China's power sector. The results show that, compared with no retrofitted CCS power system, the high development of retrofitted CCS can reduce the future installed capacity and power generation demand of China's power sector by up to 605GW or 10.5 % (in 2040) and 0.17 PWh or 0.9 % (in 2060), respectively. The cumulative system decarbonization costs and electricity supply costs will decrease 6.2–8.2 % and 2.1–2.6 % by 2060, respectively, due to the savings in related costs of newly built plants and reduction in potential power shortages, in addition to avoidance of large coal-fired power stranded assets. The developed model could be a reference for other countries, and in China and perhaps in other economies with coal-dominant power systems, policies advocating the development of retrofitted CCS should be strengthened.