Integration of techno-economic and life cycle assessment: Defining and applying integration types for chemical technology development

Wunderlich, Johannes; Armstrong, Katy; Buchner, Georg A.; Styring, Peter; Schomäcker, Reinhard

doi:10.1016/j.jclepro.2020.125021

Cited by 47 publications

(33 citation statements)

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“…Thomassen et al (2019) propose a new integrated Environmental and Techno-Economic Assessment (ETEA) framework. Wunderlich et al (2021) more recently also recommended the integration of the TEA with the Life Cycle Analysis (LCA) to assess the potential of sustainable chemical technologies. Reporting results…”

Section: Extending Tea Methodologymentioning

confidence: 99%

Economic feasibility studies for Carbon Capture and Utilization technologies: a tutorial review

Assche

Compernolle

2021

Clean Techn Environ Policy

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Carbon Capture and Utilization (CCU) involves the capture and use of CO 2 as a resource to create valuable products. The economic viability of CCU technologies is crucial for its implementation in real life. The competitiveness of various CCU technologies has been investigated frequently resulting in a variety of economic feasibility studies and economic indicators. This study performs a tutorial review, in which practical guidance is given on the implementation of TEAs for chemical CCU technologies. The tutorial review will critically examine the economic feasibility studies that have been performed in this eld and will advise how these studies can be improved in the future. A thorough review of the literature set is performed, in which we evaluate the quality of the economic feasibility studies in the literature set by comparing these studies to the guidelines from Zimmermann et al. ( 2020). The ve phases of an exhaustive TEA are (I) goal and scope, (II) data inventory, (III) calculation of indicators, (IV) interpretation, and (V) writing the report. We evaluate the implementation of these ve phases in the economic feasibility studies in the literature set. The tutorial review shows that economic feasibility studies for chemical CCU technologies can and should be improved in various manners. Phase I and II are often skipped or incomplete. Phase III, the calculation of assessment indicators, shows diversity in the indicator base which hampers comparability across CCU technologies of the technical and economic criteria that are key for the feasibility. Phase IV, the interpretation of results, is often missing in the literature set or lacks thorough uncertainty and sensitivity analyses. These ndings suggest that future economic feasibility studies should be made in a more standardized way to improve both the quality and comparability of economic feasibility studies. This tutorial review has raised important questions about the management of uncertainty and exibility in economic feasibility studies. The integration of Real Options Analysis (ROA) within the TEA is proposed to analyse the investment decision in CCU technologies in a dynamic setting.

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Section: Extending Tea Methodologymentioning

confidence: 99%

Economic feasibility studies for Carbon Capture and Utilization technologies: a tutorial review

Assche

Compernolle

2021

Clean Techn Environ Policy

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Section: Methanol Synthesis Via Ccu Technologiesmentioning

confidence: 99%

Economic Feasibility Studies for Carbon Capture and Utilisation Technologies: A Tutorial Review

Assche

Compernolle

2021

Preprint

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Carbon Capture and Utilization (CCU) involves the capture and use of CO2 as a resource to create valuable products. The economic viability of CCU technologies is crucial for its implementation in real life. The competitiveness of various CCU technologies has been investigated frequently resulting in a variety of economic feasibility studies and economic indicators. This study performs a tutorial review, in which practical guidance is given on the implementation of TEAs for chemical CCU technologies. The tutorial review will critically examine the economic feasibility studies that have been performed in this field and will advise how these studies can be improved in the future. A thorough review of the literature set is performed, in which we evaluate the quality of the economic feasibility studies in the literature set by comparing these studies to the guidelines from Zimmermann et al. (2020). The five phases of an exhaustive TEA are (I) goal and scope, (II) data inventory, (III) calculation of indicators, (IV) interpretation, and (V) writing the report. We evaluate the implementation of these five phases in the economic feasibility studies in the literature set. The tutorial review shows that economic feasibility studies for chemical CCU technologies can and should be improved in various manners. Phase I and II are often skipped or incomplete. Phase III, the calculation of assessment indicators, shows diversity in the indicator base which hampers comparability across CCU technologies of the technical and economic criteria that are key for the feasibility. Phase IV, the interpretation of results, is often missing in the literature set or lacks thorough uncertainty and sensitivity analyses. These findings suggest that future economic feasibility studies should be made in a more standardized way to improve both the quality and comparability of economic feasibility studies. This tutorial review has raised important questions about the management of uncertainty and flexibility in economic feasibility studies. The integration of Real Options Analysis (ROA) within the TEA is proposed to analyse the investment decision in CCU technologies in a dynamic setting.

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“…5 Increasingly, these studies are moving towards being "integrated" with the intention of investigating trade-offs between environmental benefits and increased financial burdens. 6 This shift into a two-dimensional assessment approach is one which should be encouraged but leaves open the risk that the third societal pillar remains neglected. Therefore, approaches to integrate all three aspects are required to attain truly sustainable CDU technology deployment.…”

Section: Introductionmentioning

confidence: 99%

“…Therefore, approaches to integrate all three aspects are required to attain truly sustainable CDU technology deployment. [6][7][8] Guidelines for the economic and environmental assessment of CDU have recently been published to steer practitioners through methodological choices in CDU assessment 9 . However, such guidelines or methodologies do not exist for CDU social assessment, therefore the triple helix cannot easily be completed.…”

Section: Introductionmentioning

confidence: 99%

Developing a triple helix approach for CO₂ utilisation assessment

2021

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Integration of techno-economic and life cycle assessment: Defining and applying integration types for chemical technology development

Cited by 47 publications

References 47 publications

Economic feasibility studies for Carbon Capture and Utilization technologies: a tutorial review

Economic feasibility studies for Carbon Capture and Utilization technologies: a tutorial review

Economic Feasibility Studies for Carbon Capture and Utilisation Technologies: A Tutorial Review

Developing a triple helix approach for CO₂ utilisation assessment

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Integration of techno-economic and life cycle assessment: Defining and applying integration types for chemical technology development

Cited by 47 publications

References 47 publications

Economic feasibility studies for Carbon Capture and Utilization technologies: a tutorial review

Economic feasibility studies for Carbon Capture and Utilization technologies: a tutorial review

Economic Feasibility Studies for Carbon Capture and Utilisation Technologies: A Tutorial Review

Developing a triple helix approach for CO2 utilisation assessment

Contact Info

Product

Resources

About

Developing a triple helix approach for CO₂ utilisation assessment