NRAP/SMART Technoeconomic and Liability Evaluation for Storage (TALES) Model (Coming Soon)

The NRAP/SMART TALES Model is a comprehensive engineering economic model for calculating revenues and costs for all aspects of a CO2 saline storage project, including financing costs. The liability term in the TALES title refers to the liability associated with potential adverse events that may occur at a CO2 saline storage project. The focus of TALES, as with other NRAP tools, is on two potential adverse events: leakage of fluid out of the storage formation into an underground source of drinking water or induced seismic incidents. Liability is further defined as the cost of responding to an adverse event.

In a typical workflow, TALES first calculates the revenues, costs and financial performance for a storage project assuming there are no adverse events. This is referred to as the baseline scenario. TALES then calculates the revenues, costs and financial performance of additional scenarios. These additional scenarios involve the operator implementing remedial response actions to address specific adverse events. TALES calculates the revenues, costs and financial performance for each of these additional scenarios. The results for the scenarios involving remedial responses are compared with the baseline scenario to determine how significant each adverse event might be and whether the saline storage project could suffer one of these adverse events, implement a remedial response and remain financially viable.

This product was developed in collaboration with the SMART Initiative for Carbon Storage. 

The NRAP/SMART TALES Model is a new tool and is currently under development. Please check this page for upcoming release updates.