Towards CO2 valorization in a multi remote renewable energy hub framework

In this paper, we propose a multi-RREH (Remote Renewable Energy Hub) based
optimization framework. This framework allows a valorization of CO2 using
carbon capture technologies. This valorization is grounded on the idea that CO2
gathered from the atmosphere or post combustion can be combined with hydrogen
to produce synthetic methane. The hydrogen is obtained from water electrolysis
using renewable energy (RE). Such renewable energy is generated in RREHs, which
are locations where RE is cheap and abundant (e.g., solar PV in the Sahara
Desert, or wind in Greenland). We instantiate our framework on a case study
focusing on Belgium and 2 RREHs, and we conduct a techno-economic analysis.
This analysis highlights the key role played by the cost of the two main carbon
capture technologies: Post Combustion Carbon Capture (PCCC) and Direct Air
Capture (DAC). In addition, we use our framework to derive a carbon price
threshold above which carbon capture technologies may start playing a pivotal
role in the decarbonation process of our industries. For example, this price
threshold may give relevant information for calibrating the EU Emission Trading
System so as to trigger the emergence of the multi-RREH.