Supporting the development of advanced low-carbon power plants: Risk analysis and TRL concept

CO₂ emissions reduction has become a major issue for the power generation sector. Advanced technology development and deployment are among the most frequently advocated keys to solving this great challenge, since the present configurations are unlikely to meet the demanding environmental requirements. This paper presents a methodical approach intended to evaluate the maturity level and the future development potential of environmental friendly power plants coupling Monte Carlo simulation technique and the concept of Technology Readiness Level (TRL). Although the numerical results are speculative, the paper offers insights into the validity of the method proposed as a means to addressing the role of technological innovation in the power generation sector to meet global climate stability targets.