The necessity to monitor the research work with aim of concentrating the efforts on designing the process and modelling the production cost using sets of relevant consistent assumption.The amount of work on techno economic analysyses has increased significantly with notable contributions on RD&D.
Understanding the cost structures of different bioprocesses help engineers and scientist identify critical variables that should be targeted to reducing production costs.
Industrial-scale biorefineries entail intensive costs of biomass transportation and storage, potential market power issues, and local environmental impacts. Alternative ways of use of this cumbersome biomass can provide a solution.
Techno-Economic Process are an invaluable tool in the development of biomass processing projects. Techno-Economic models are versatile and precise tools that serve as a common language across technical and financial fields, allowing for better informed project definition & more inclusive process decisions.
Techno-economic issues comes into picture when a process in scaled up or to be scaled up to a commercial level. The major issues to be kept in mind is choosing the right optimized parameters which are considered for cost economics. Also equipments used in the bioprocess are inclusive in the calculation.
The problem areas techno-economic analysis are inadequate analytical techniques, inefficiencies in use of information, simplistic models with assumption,inefficient knowledge and variance in signal and performance.
This is an interesting issue. ABHIJEET P. B et al well described the production of Alkene Epoxides (AO) and how Techno-Economic Analysis of Biocatalytic Processes are important for the production of AO.
http://link.springer.com/article/10.1007%2Fs12010-007-9070-2#page-1
. The early-stage techno economic analysis( TEA)tool, named BioPET (Biorenewables Process Evaluation Tool), was designed for the purpose of conducting rapid early-stage economic analyses of these hybrid systems. BioPET was validated against a commercial economic analysis tool, SuperPro Designer®, and against published literature. BioPET fills a critical niche in the evolving bio-based chemicals industry. This is because there is a need for low-cost tools capable of early-stage estimations of the economics for novel bioprocess systems. Such a tool can provide valuable insight into nascent projects.
Techno-economic analysis of bioprocess focuses on technologies projected to be viable within a 5- to 8-year time frame. Based on this time frame – and after considering time for design, construction, and start-up – the process would likely have to be based on experimental data available today.Process models were developed for the selected process scenarios using ASPEN Plus™ Process Simulator. Pinch analysis is used to optimize the process heat requirement, and the mass and
energy flow rates from simulations are used to size process equipment. The costs of most of the equipment are obtained from vendor quotes from previous studies by NREL and Consortium for Applied Fundamentals and Innovation (CAFI) ]. Individual
equipment costs are scaled based on the equipment size for the original price quote, using the scaling exponents appropriate for each type of equipment.
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