Renewable energy and biochemical consulting firms like Lee Enterprises Consulting, Inc. have experts in renewable fuels, biomaterials, biomass processes, biotechnologies, and a variety of specialty services. Lee Enterprises also has experts who specialize in techno-economic modeling and analysis. What is techno-economic modeling & analysis? See our TEA PPT on this subject.
Bringing a new technology to market is a commitment. It’s expensive and normally takes quite some time. Uncertainty is a normal complication because a technology’s economic value often depends strongly on unknown results of future research and development, and on the variable prices of raw materials, utilities, labor, and products. To make skillful decisions on the road to market, one needs to understand the interactions of laboratory findings, engineering design, prices, capital costs, and operating costs. Put simply, one must have a tool that captures a best current understanding of the technology and translates it into economic value. This is the role of “techno-economic modeling and analysis”. By linking process and market parameters with economic values, techno-economic modeling enables quantitative analysis and objective decision-making. When it is combined with sensitivity analyses, like tornado diagrams and Monte Carlo analysis, this analysis offers a window to understanding the key factors that drive the economic value of the technology.
Lee Enterprises Consulting is the world’s premier bioeconomy consulting group, with over 100 highly qualified experts serving in all these areas. Take a look at our experts and the services we provide and you will see that we have just the right expert for any clean energy project. Most of our experts are also available to advise and serve as expert witnesses in bioeconomy litigation matters. For the larger projects, we specialize in putting together full service, interdisciplinary teams with one point of contact. Call us at 1+ (501) 833-8511 or email us for more information.