| Summary: | Lokaritgerð (MS) frá Háskóla Íslands og Háskólanum í Reykjavík. MS Thesis Reykjavík Energy Graduate School of Sustainable Systems. This paper aims to review the costs associated with the CarbFix injection program and determine its possible revenues. The CarbFix costs are reviewed both in its current pilot project state, as well as two larger scenarios involving the Hellisheidi geothermal power plant in southwest Iceland and a pulverized coal plant. The Simple Multi-attribute Technique (SMART) combined with a PESTLE analysis provides a detailed portfolio of positive markets that CarbFix could enter with its knowledge to provide a service. While costs of storage of CO2 in other types of reservoirs have been widely studied, there are limited data on storage through mineralization. The largest cost contributors for both the CarbFix pilot program and the Hellisheidi plant are the capital and monitoring costs, but water and electricity costs become more predominant in the pulverized coal case. This paper, specifically through its cost analysis, adds much needed information on the economics of this emerging form of CCS. The cost analysis shows that the cost per tonne of CO2 emitted would need to be 77!/tCO2 for the Hellisheidi scenario to be profitable while the pulverized coal scenario would be profitable at 50!/tCO2 emitted. The market analysis shows that the most efficient markets, in terms of low barriers to entry and adequate purchasing power, are Russia, the United States, Canada, Italy and Germany. KEYWORDS: carbon capture and storage; mineral carbonation; CarbFix; carbon dioxide; Hellisheidi; Iceland
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