Techno-economic assessment or techno-economic analysis is a method of analyzing the economic performance of an industrial process, product, or service. It typically uses software modeling to estimate capital cost, operating cost, and revenue based on technical and financial input parameters. One desired outcome is to summarize results in a concise and visually coherent form, using visualization tools such as tornado diagrams and sensitivity analysis graphs.
At present, TEA is most commonly used to analyze technologies in the chemical, bioprocess, petroleum, energy, and similar industries. This article focuses on these areas of application....