Techno-economic analysis (TEA) is the combination of conceptual process design and production cost estimation activities. In the renewable energy sector, biomass energy is a key component. Biomass pyrolysis refers to the thermal deconstruction of woody or herbaceous feedstock to pyrolysis oil, an energy-dense but oxygenated liquid that can be upgraded to fuel-range hydrocarbons.
Techno-economic analysis is generally carried out by a chemical process engineer with relevant experience. For pyrolysis, this may include high-temperature processing, FCC design and operation, and catalysis. A successful TEA requires an expert with proficiency in (and access to) flowsheet simulation software and capital cost estimation software.
Techno-economic analysis consultants may assist developers with plant design and simulation, equipment selection and sizing, capital cost estimation, and cost-of-consumables estimation. They can help developers communicate a technology’s commercial potential to investors and prioritize research areas with respect to economic impact. On the investor side, they may assist with due diligence activities including independent review of heat & material balances.
At Lee Enterprises Consulting, we have a number of highly qualified experts available to assist you with any related matters. Feel free to call or email us for more information.