A Thorough Emission-Cost Analysis of the Gradual Replacement of Carbon-Rich Fuels with Carbon-Free Energy Carriers in Modern Power Plants: The Case of Cyprus

Global efforts towards de-carbonization give rise to remarkable energy challenges, which include renewable energy penetration increase and intermediate energy carriers for a sustainable transition. In order to reduce the dependence on fossil fuels, alternative sources are considered by commodities to satisfy their increasing electricity demand, as a consequence of a rise in population and the quantity of residential appliances in forthcoming years. The near-term trends appear to be in fuel and emission reduction techniques through the integration of carbon capture and storage and more efficient energy carriers, exploiting alternative energy sources, such as natural gas and hydrogen. Formulating both the fuel consumption and emission released, the obtained experimental results showed that the total production cost can be reduced by making use of natural gas for the transition towards 2035’s targets. Maximum profits will be achieved with hydrogen as the only fuel in modern power plants by 2050. In this way, the lowest electricity production can be achieved as well as the elimination of carbon dioxide emissions. Since the integration of renewable energy resources in the sectors of electricity, heating/cooling and transportation will continuously be increased, alternative feedstocks can serve as primary inputs and contribute to production cost profits, improved utilization factors and further environmental achievements.