Technoeconomic analysis for biofuels and bioproducts

Technoeconomic analysis (TEA) is an approach for conducting process design and simulation, informed by empirical data, to estimate capital costs, operating costs, mass balances, and energy balances for a commercial scale biorefinery. TEA serves as a useful method to screen potential research priorities, identify cost bottlenecks at the earliest stages of research, and provide the mass and energy data needed to conduct life-cycle environmental assessments. Recent studies have produced new tools and methods to enable faster iteration on potential designs, more robust uncertainty analysis, and greater accessibility through the use of open-source platforms. There is also a trend toward more expansive system boundaries to incorporate the impact of policy incentives, use-phase performance differences, and potential impacts on global market supply.

Automated summary

Technoeconomic analysis (TEA) is a method used for process design and simulation in commercial scale biorefineries, providing valuable data for estimating costs and conducting environmental assessments. Recent advancements have led to the development of new tools and methods for faster design iterations, more robust uncertainty analysis, and increased accessibility through open-source platforms. There is also a trend towards broader system boundaries to incorporate policy influences and global market impacts.