Lowering greenhouse gas (GHG) emissions: techno‐economic analysis of biomass conversion to biofuels and value‐added chemicals

Abstract

It is important for researchers to look at alternative fuels to reduce dependence on fossil fuels as a primary source of energy, to protect the environment, and to reduce greenhouse‐gas emissions. An alternative fuel has to be environment friendly and economically viable, both in terms of production and suitability for the modern world. Fuel derived from biomass has long been viewed as a potential replacement. First‐generation biomass‐derived fuels such as bioethanol and biodiesel have already been competing with conventional fuels, assisted by legislation. This review paper assesses the feasibility of adapting and incorporating second‐generation advanced biofuel production technology for the thermochemical conversion of biomass to produce alternative fuels. The conversion technologies considered here are pyrolysis and gasification, and their potential has been examined using techno‐economic assessment (TEA). A brief overview of different business models that can be incorporated during TEA has also been discussed. Techno‐economic assessment data help in determining costs of technologies if they are employed on a commercial scale, especially in terms of per unit cost of product. The review has compiled the technical and economic data available for assessing the types and combination of processes that can assist competitiveness in the existing market. © 2019 Society of Chemical Industry and John Wiley & Sons, Ltd.

Techno-Economical Evaluation of Bio-Oil Production via Biomass Fast Pyrolysis Process: A Review

“…Economic analysis involves checking or testing the economic practicability of a process or product under a progressive stage, which helps track future research, expansion, and investment (Sharma et al, 2019). Financial analysis is related to determining the price of manufacturing, selling, investing, and marketing.…”

“…Furthermore, the calculated values can help predict the future cash flow and return on investment. Different types of sustainability and business models, such as the triple bottom line analysis model and pay as you go model, are available for analyzing sustainability development (Sharma et al, 2019). Economic analysis is based on methods, size of the plants (laboratory, pilot, or commercial), availability, and continuous feedstock supply.…”

Thermal Analysis Technologies for Biomass Feedstocks: A State-of-the-Art Review

“…η ex = £x gas + £x loss + £x tar + £x char £x biomass + £x steam (4) where £x gas , £x tar , £x char , £x biomass , and £x steam are the loss energy flow and energy flow of gas, tar, char, biomass, and steam, respectively. Entropy creation, heat and mass transfers, and irreversibility of chemical reactions all result in a loss.…”

“…The produced bio-oil can be refined for use in petroleum refineries [37]. The pyrolysis reaction kinetics for lake sediment may be characterised using the Arrhenius equation in Equation (4).…”

“…Heat and catalysts are used in the thermochemical processing of biomass to convert plant biomass into fuels, chemicals, or electric power. It has been used to treat crude oil in order to extract fossil fuels and various chemical products [4].…”