IDEAS home Printed from https://ideas.repec.org/a/eee/energy/v294y2024ics0360544224005826.html
   My bibliography  Save this article

Technoeconomic characterisation of low-carbon liquid hydrocarbons production

Author

Listed:
  • Kim, Seokyoung
  • Dodds, Paul E.
  • Butnar, Isabela

Abstract

With growing attention on low-carbon fuels and chemicals to meet climate targets, careful cost and performance evaluations become critical. These hydrocarbons can be derived from biomass or hydrogen with captured CO2 via established pathways such as Fischer-Tropsch and methanol synthesis. Techno-economic studies are influential in identifying the economic viability of promising technologies in the absence of reliable industry data. A considerable number of techno-economic studies that represent same technologies exhibit substantial variability in their estimations, posing challenges in decision-making. This work aims to characterise, based on available data, the investment cost and plant performance for the Nth (i.e. mature) low-carbon liquid hydrocarbon plants. The extent of data variabilities across technologies are presented and the factors contributing to differences in data interpretation and normalisation are determined. Through a full assessment of existing values, central tendencies for prospective techno-economic evaluations are identified. Processes utilising biomass have the greatest ranges in the investment cost, with higher costs from studies with the highest level of detail and proximity to real-world plant cost estimations. Energy efficiency variabilities arise when tied to plants with multiple outputs. Demonstration scale hydrogen-to-hydrocarbons in relation to economies of scale should be carefully evaluated.

Suggested Citation

  • Kim, Seokyoung & Dodds, Paul E. & Butnar, Isabela, 2024. "Technoeconomic characterisation of low-carbon liquid hydrocarbons production," Energy, Elsevier, vol. 294(C).
    • Handle: RePEc:eee:energy:v:294:y:2024:i:c:s0360544224005826
    DOI: 10.1016/j.energy.2024.130810
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0360544224005826
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.energy.2024.130810?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Bos, M.J. & Kersten, S.R.A. & Brilman, D.W.F., 2020. "Wind power to methanol: Renewable methanol production using electricity, electrolysis of water and CO2 air capture," Applied Energy, Elsevier, vol. 264(C).
    2. Dimitriou, Ioanna & Goldingay, Harry & Bridgwater, Anthony V., 2018. "Techno-economic and uncertainty analysis of Biomass to Liquid (BTL) systems for transport fuel production," Renewable and Sustainable Energy Reviews, Elsevier, vol. 88(C), pages 160-175.
    3. Adnan, Muflih A. & Kibria, Md Golam, 2020. "Comparative techno-economic and life-cycle assessment of power-to-methanol synthesis pathways," Applied Energy, Elsevier, vol. 278(C).
    4. Brynolf, Selma & Taljegard, Maria & Grahn, Maria & Hansson, Julia, 2018. "Electrofuels for the transport sector: A review of production costs," Renewable and Sustainable Energy Reviews, Elsevier, vol. 81(P2), pages 1887-1905.
    5. Pérez-Fortes, Mar & Schöneberger, Jan C. & Boulamanti, Aikaterini & Tzimas, Evangelos, 2016. "Methanol synthesis using captured CO2 as raw material: Techno-economic and environmental assessment," Applied Energy, Elsevier, vol. 161(C), pages 718-732.
    6. Ajay Gambhir & Richard Green & Michael Grubb & Philip Heptonstall & Charlie Wilson & Robert Gross, 2021. "How Are Future Energy Technology Costs Estimated? Can We Do Better?," International Review of Environmental and Resource Economics, now publishers, vol. 15(4), pages 271-318, December.
    7. Lee, Boreum & Lee, Hyunjun & Lim, Dongjun & Brigljević, Boris & Cho, Wonchul & Cho, Hyun-Seok & Kim, Chang-Hee & Lim, Hankwon, 2020. "Renewable methanol synthesis from renewable H2 and captured CO2: How can power-to-liquid technology be economically feasible?," Applied Energy, Elsevier, vol. 279(C).
    8. Haarlemmer, Geert & Boissonnet, Guillaume & Peduzzi, Emanuela & Setier, Pierre-Alexandre, 2014. "Investment and production costs of synthetic fuels – A literature survey," Energy, Elsevier, vol. 66(C), pages 667-676.
    9. Harris, Kylee & Grim, R. Gary & Huang, Zhe & Tao, Ling, 2021. "A comparative techno-economic analysis of renewable methanol synthesis from biomass and CO2: Opportunities and barriers to commercialization," Applied Energy, Elsevier, vol. 303(C).
    10. Zhang, Hanfei & Desideri, Umberto, 2020. "Techno-economic optimization of power-to-methanol with co-electrolysis of CO2 and H2O in solid-oxide electrolyzers," Energy, Elsevier, vol. 199(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Svitnič, Tibor & Sundmacher, Kai, 2022. "Renewable methanol production: Optimization-based design, scheduling and waste-heat utilization with the FluxMax approach," Applied Energy, Elsevier, vol. 326(C).
    2. Huang, Renxing & Kang, Lixia & Liu, Yongzhong, 2022. "Renewable synthetic methanol system design based on modular production lines," Renewable and Sustainable Energy Reviews, Elsevier, vol. 161(C).
    3. Rahmat, Yoga & Maier, Simon & Moser, Francisco & Raab, Moritz & Hoffmann, Christian & Repke, Jens-Uwe & Dietrich, Ralph-Uwe, 2023. "Techno-economic and exergy analysis of e-methanol production under fixed operating conditions in Germany," Applied Energy, Elsevier, vol. 351(C).
    4. Kontou, V. & Grimekis, D. & Braimakis, K. & Karellas, S., 2022. "Techno-economic assessment of dimethyl carbonate production based on carbon capture and utilization and power-to-fuel technology," Renewable and Sustainable Energy Reviews, Elsevier, vol. 157(C).
    5. Tabibian, Seyed Shayan & Sharifzadeh, Mahdi, 2023. "Statistical and analytical investigation of methanol applications, production technologies, value-chain and economy with a special focus on renewable methanol," Renewable and Sustainable Energy Reviews, Elsevier, vol. 179(C).
    6. Campion, Nicolas & Nami, Hossein & Swisher, Philip R. & Vang Hendriksen, Peter & Münster, Marie, 2023. "Techno-economic assessment of green ammonia production with different wind and solar potentials," Renewable and Sustainable Energy Reviews, Elsevier, vol. 173(C).
    7. Navas-Anguita, Zaira & García-Gusano, Diego & Iribarren, Diego, 2019. "A review of techno-economic data for road transportation fuels," Renewable and Sustainable Energy Reviews, Elsevier, vol. 112(C), pages 11-26.
    8. Millinger, M. & Reichenberg, L. & Hedenus, F. & Berndes, G. & Zeyen, E. & Brown, T., 2022. "Are biofuel mandates cost-effective? - An analysis of transport fuels and biomass usage to achieve emissions targets in the European energy system," Applied Energy, Elsevier, vol. 326(C).
    9. Li, Jiaxuan & Zhu, Xun & Djilali, Ned & Yang, Yang & Ye, Dingding & Chen, Rong & Liao, Qiang, 2022. "Comparative well-to-pump assessment of fueling pathways for zero-carbon transportation in China: Hydrogen economy or methanol economy?," Renewable and Sustainable Energy Reviews, Elsevier, vol. 169(C).
    10. Lester, Mason Scott & Bramstoft, Rasmus & Münster, Marie, 2020. "Analysis on Electrofuels in Future Energy Systems: A 2050 Case Study," Energy, Elsevier, vol. 199(C).
    11. Ma, Qian & Chang, Yuan & Yuan, Bo & Song, Zhaozheng & Xue, Jinjun & Jiang, Qingzhe, 2022. "Utilizing carbon dioxide from refinery flue gas for methanol production: System design and assessment," Energy, Elsevier, vol. 249(C).
    12. Hermesmann, M. & Grübel, K. & Scherotzki, L. & Müller, T.E., 2021. "Promising pathways: The geographic and energetic potential of power-to-x technologies based on regeneratively obtained hydrogen," Renewable and Sustainable Energy Reviews, Elsevier, vol. 138(C).
    13. Mancusi, E. & Bareschino, P. & Brachi, P. & Coppola, A. & Ruoppolo, G. & Urciuolo, M. & Pepe, F., 2021. "Feasibility of an integrated biomass-based CLC combustion and a renewable-energy-based methanol production systems," Renewable Energy, Elsevier, vol. 179(C), pages 29-36.
    14. Farajiamiri, Mina & Meyer, Jörn-Christian & Walther, Grit, 2023. "Multi-objective optimization of renewable fuel supply chains regarding cost, land use, and water use," Applied Energy, Elsevier, vol. 349(C).
    15. Harris, Kylee & Grim, R. Gary & Huang, Zhe & Tao, Ling, 2021. "A comparative techno-economic analysis of renewable methanol synthesis from biomass and CO2: Opportunities and barriers to commercialization," Applied Energy, Elsevier, vol. 303(C).
    16. Alfredas Rimkus & Justas Žaglinskis & Saulius Stravinskas & Paulius Rapalis & Jonas Matijošius & Ákos Bereczky, 2019. "Research on the Combustion, Energy and Emission Parameters of Various Concentration Blends of Hydrotreated Vegetable Oil Biofuel and Diesel Fuel in a Compression-Ignition Engine," Energies, MDPI, vol. 12(15), pages 1-18, August.
    17. Demirhan, C. Doga & Tso, William W. & Powell, Joseph B. & Pistikopoulos, Efstratios N., 2021. "A multi-scale energy systems engineering approach towards integrated multi-product network optimization," Applied Energy, Elsevier, vol. 281(C).
    18. Hannula, I. & Reiner, D., 2017. "The race to solve the sustainable transport problem via carbon-neutral synthetic fuels and battery electric vehicles," Cambridge Working Papers in Economics 1758, Faculty of Economics, University of Cambridge.
    19. Samanta, Samiran & Roy, Dibyendu & Roy, Sumit & Smallbone, Andrew & Roskilly, Anthony Paul, 2023. "Techno-economic analysis of a fuel-cell driven integrated energy hub for decarbonising transportation," Renewable and Sustainable Energy Reviews, Elsevier, vol. 179(C).
    20. Nugroho, Yohanes Kristianto & Zhu, Liandong & Heavey, Cathal, 2022. "Building an agent-based techno-economic assessment coupled with life cycle assessment of biomass to methanol supply chains," Applied Energy, Elsevier, vol. 309(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:energy:v:294:y:2024:i:c:s0360544224005826. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/energy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.