SINTEF has strong expertise in the field of techno-economic analysis and optimization – a discipline that combines technology and economics, placing it within a broader economic and societal context. We provide tools and analyses that help customers lay the groundwork for sound, sustainable decision-making.
Cost estimation and analysis are valuable when evaluating project ideas, conducting feasibility studies, and benchmarking different concepts. This provides an initial overview of total costs and identifies potential cost drivers within specific components.
SINTEF can offer both process simulation, scope analysis, and subsequent cost analysis based on the simulations. This enables a comprehensive understanding of the process and allows for sensitivity analyses to identify parameters for cost savings and risk areas.
SINTEF has several expert groups working on topics related to techno-economic analysis and optimization. Our work spans various sectors, including both private and public enterprises. The tools we use are both internally developed and validated over many years, as well as commercially available process tools such as those from Aspen.
By conducting a techno-economic analysis as early as possible, ideally during opportunity or concept studies, it is possible to gain insight into the economic landscape and understand how different technical solutions affect the cost/revenue of the product. This is also a valuable exercise to identify where to focus efforts to reduce costs, considering both OPEX and CAPEX. Often, cost analyses and process simulation/modeling are carried out in an iterative process, starting with a simulation and cost estimate, followed by adjustments to the elements with the greatest cost impact. This allows for proactive changes to reduce total costs before the process design is finalized.