Techno-economic analysis in the green mobility sector: A guideline for method selection

Techno-economic analysis (TEA) has been considered an important tool to evaluate the economic performance of industrial processes. Recently, the application of TEA has been observed to have exponential growth due to the increasing competition among businesses across various industries. Thus, this review presents a deliberate overview of TEA to inculcate the importance and relevance of TEA. To further support the aforementioned points, this review article starts with a bibliometric analysis to evaluate the applicability of TEA within the research community. Conventional TEA is widely known to be conducted via software modeling (i.e., Python, AMIS, MATLAB, Aspen HYSYS, Aspen Plus, HOMER Pro, FORTRAN, R, SysML and Microsoft Excel) without involving any correlation or optimization between the process and economic performance. Apart from that, due to the arrival of the industrial revolution (IR) 4.0, industrial processes are being revolutionized into smart industries. Thus, to retain the integrity of TEA, a similar evolution to smart industries is deemed necessary. Studies have begun to incorporate data-driven technologies (i.e., artificial intelligence (AI) and blockchain) into TEA to effectively optimize both processes and economic parameters simultaneously. With this, this review explores the integration of data-driven technologies in the TEA framework. From literature reviews, it was found that genetic algorithm (GA) is the most applied data-driven technology in TEA, while the applications of blockchain, machine learning (ML), and artificial neural network (ANN) in TEA are still considerably scarce. Not to mention other advanced technologies, such as cyber-physical systems (CPS), IoT, cloud computing, big data analytics, digital twin (DT), and metaverse are yet to be incorporated into the existing TEA. The inclusion of set-up costs for the aforementioned technologies is also crucial for accurate TEA representation of smart industries deployment. Overall, this review serves as a reference note for future process engineers and industry stakeholders who wish to perform relevant TEA, which is capable to cover the new state-of-art elements under the new modern era.

Techno-economic and life cycle analysis of biofuel production via hydrothermal liquefaction of microalgae in a methanol-water system and catalytic hydrotreatment using hydrochar as a catalyst support

Techno – Economic analysis of activated carbon production from spent coffee grounds: Comparative evaluation of different production routes

Due to the lack of grid power availability in rural areas, hybrid renewable energy sources are integrated with microgrids to distribute reliable power to remote locations. This optimal hybrid system is created using a solar photovoltaic system, wind turbine, diesel generator, battery storage system, converter, electrolyzer and hydrogen tank to provide uninterrupted power and meet different load demands of different communities in Doddipalli village, Chittoor, Andhra Pradesh, India. Optimization and techno-economic analysis are performed to design the proposed system using HOMER Software. Various configurations are obtained from the software among which the best four combinations are considered for case studies. This research article aims to design the optimal hybrid renewable energy system, wherein the design consists of PV/BS (1476 kW-solar PV, 417 batteries, electrolyser-200 kW, hydrogen tank-20 kg and 59.6 kW-converter) by comparing the minimum net present cost (NPC: $7.01 M), levelized cost of energy (LCOE: 0.244 $/kWh), and the high renewable fraction (RF: 84.1%). In this research, the proposed system would be more economical when solar energy becomes the primary source and is integrated with the battery. This research also presents a sensitivity analysis of the off-grid HRES system with various electrical load demands, project lifetime, and derating factors.

Valorization of micro-algae biomass for the development of green biorefinery: Perspectives on techno-economic analysis and the way towards sustainability

Uncertainty analysis is a key element of sound techno-economic analysis (TEA) of CO2 Capture and Storage (CCS) technologies and systems, and in the communication of TEA results. Many CCS technologies are relatively novel, with only few large-scale projects constructed and in operation to date. Therefore, uncertainties in technology performance and costs are often substantial, making it imperative that they be characterized and reported. Although uncertainty analysis itself is not novel, with some methods already frequently used by the CCS TEA community, a document that provides a comprehensive overview of methods and approaches, as well as guidance on their selection and use, is still lacking. Given its importance, we seek to fill this gap by providing a critical review of uncertainty analysis methods along with guidance on the selection and use of these methods for CCS TEAs, highlighting good practice and examples from the CCS literature. The paper starts by identifying the different audiences for CCS TEAs, the different modelling approaches available for CCS technology performance and cost analysis, and the different roles that uncertainty analysis may play. It then continues to discuss established, as well as emerging, uncertainty analysis methods and addresses how and when each method is best used, as well as common pitfalls. We argue that the most commonly used method of one-parameter-at-a-time ‘local’ sensitivity analysis may often be a suboptimal choice, and that other approaches may be more suitable or lead to more insight, especially since uncertainty analysis software is becoming more widespread and easier to use. Finally, the paper discusses the benefits of advanced uses of uncertainty analysis in, for instance, the design of CCS experiments or in the design and planning of CCS infrastructure. Sound uncertainty analysis has an important role to play in TEAs of CCS technologies and systems, and there are many opportunities to bring the use of uncertainty analysis to a higher level than currently practiced. This review of and guidance on available methods is intended to help accelerate continued methods development and their application to more robust and meaningful CCS performance and costing studies.

Chapter 34 - Technoeconomic analysis of biofuel production from agricultural residues through pyrolysis

Thermodynamic and techno-economic analysis of hydrogen production from food waste by torrefaction integrated with steam gasification

Co-pyrolysis of sewage sludge with lignocellulosic and algal biomass for sustainable liquid and gaseous fuel production: A life cycle assessment and techno-economic analysis

Energy demands of industry, agriculture, transport and domestic sectors of a developing nation are primarily in terms of electricity and transportation fuel. Rice is a major crop in many developing countries. The residues of this crop, viz. rice husk, and rice straw have high potential for bioenergy generation. This review article tries to explore potential of this bio-resource and emphasizes its effective utilization for energy production through techno-economic analysis. The structure, properties, and treatment of rice crop residues have been described. A literature review in production of various biofuels through thermo-chemical and biochemical conversion of rice straw and husk has been presented. Finally, brief literature review on economic analysis of production of liquid and gaseous biofuels from rice crop residues through biochemical and thermo-chemical routes has been presented. This analysis reveals that production of different biofuels from rice crop residues is economically viable. This review emphasizes that bioenergy from rice crop residues provides simultaneous solution to issues of energy security and climate change risk in developing nations.

Among different types of ground heat exchangers (GHEs), multi-external chamber coaxial GHE is recently a promising design due to its geometrical characteristics of concentric tube-in-tube configuration and maximal heat exchange performance. Nevertheless, the characterization and commercialization of multi-external chamber coaxial GHEs need a deep understanding of the effect of different opt-geometrical and operational parameters on their thermo-economic performance. Therefore, accurate numerical modeling of the transient heat transfer proficiencies and the techno-economic feasibility of the multi-external chamber coaxial GHE and coaxial GHE compared to conventional double U-tube GHE is crucial to promise an optimal design of ground-coupled heat pump systems. This study introduces a comprehensive systematic and techno-economic analysis of the transient heat transfer characteristics of coaxial and multi-external-chamber coaxial GHEs compared to conventional double U-tube GHE. A three-dimensional numerical model was adopted and validated by field experiments. Moreover, a sensitivity analysis was conducted to investigate the impacts of several key operating and design parameters on heat transfer performance under heating and cooling modes conditions. Furthermore, various case studies, along with a comprehensive analysis of multi-objective optimization for minimization of the GHE number and energy consumption, were also carried out. In addition, a techno-economic analysis was also carried out using the total annual cost method to assess the economic viability of the proposed GHE designs. The results reveal that, compared to double U-tube GHE, coaxial GHE has the best thermal performance with maximum and average heat transfer rates of 127.54% and 17.67%, while the multi-external-chamber coaxial GHE is estimated to be 62.38% and 11.72%, respectively. Also, the corresponding total thermal resistance of coaxial GHE is the lowest by 14.86%, and for multi-external-chamber coaxial, it is 10.30%; also coaxial GHE has the lowest pressure drop by 76.45%, followed by multi-external-chamber coaxial GHE with 57.18%. In the case studies, replacing double U-tube GHE with coaxial or multi-external-chamber coaxial GHEs, the GHE number can be decreased by 13.3% for both the designs, or the energy consumption of the water pump by 33.91% and 30.97%, and the energy consumption of the entire system by 17.21% and 10.54%, respectively. The techno-economic analysis results indicate that replacing double U-tube GHE with coaxial GHE is the most feasible alternative, which can decrease the total annual cost by 13.58%, followed by multi-external-chamber coaxial GHE by 6.77%. Further discussion for the deep applications was performed, which concluded the optimal GHE design. The findings of this paper can be used as a guide for future research on GHEs for potential applications of ground-coupled heat pump systems.

Single-step syngas-to-distillates (S2D) process based on biomass-derived syngas – A techno-economic analysis

A techno-economic analysis was carried out for standalone microgrid systems powered entirely by renewable energy. It includes various scenarios like solar energy with battery energy storage, pumped hydro storage, power to hydrogen system, hybrid solar energy, and wind turbine with battery energy storage and pumped hydro storage. Each scenario, as per its configuration, consists of solar PV of 1 kW rated capacity and a wind turbine of 1.5kW. For storage, lead acid batteries of 1 kWh, pumped hydro storage of 245kWh, and hydrogen power is used. The microgrid has a peak annual load of 88.22kW and daily average demand of 800kWh. The energy technologies were designed, modeled and simulated using HOMER Pro, and the energy economics, balance, and environmental emissions were examined and compared among suggested scenarios. The “National Renewable Energy Lab (NREL)” and “National Aeronautics and Space Administration (NASA)” provided meteorological statistics for simulation in HOMER Pro of Burla, Odisha site to assess system performance. A sensitivity analysis was performed to determine design resilience against uncertainties like fuel price and hub height. The simulation results demonstrated that a Pumped Hydro Storage based hybrid renewable energy system has the least net present cost and levelized cost.

CO2-negative fuel production using low-CO2 electricity: Syngas from a combination of methane pyrolysis and dry reforming with techno-economic analysis

The increasing environmental issues, driven by the depletion of fossil fuel reserves and excessive carbon emissions, have put the world’s attention toward finding sustainable solutions. Among various solutions, microalgae emerge as a promising zero-carbon alternative, addressing both biofuel production and carbon sequestration. This review provides a comprehensive analysis of cultivation methods for microalgae, biofuel conversion techniques (bioethanol and biodiesel), and their role in reducing/eliminating greenhouse gas (GHGs) emissions. Recent developments in cultivation methods, such as photobioreactors and open-pond cultivation have shown encouraging results regarding the CO2-capturing potential of microalgae. Specific microalgal strains, such as Chlorella vulgaris and Chlorella sp. exhibit high biomass productivity (0.4 and 1.21 g/L/d, respectively) and CO2 fixation rates (0.49 and 0.25 g/L/d, respectively), standing out as the most viable for biofuel synthesis. Additionally, this review compares various cultivation systems based on techno-economic analysis (TEA) with an aim to highlight cost-effective and industrially feasible systems. Among the analyzed strains, Nannochloropsis oceanica outperformed the other strains in terms of biodiesel productivity (0.36 g/L/d), production costs ($1.5/L), and EROI (13.5). This makes it an excellent choice for large-scale biofuel production. By integrating biofuel production and CO2 sequestration, this review identifies key challenges and future research directions for economically feasible microalgal bioenergy solutions.