Uncertainties in Early-Stage Capital Cost Estimation of Process Design – A Case Study on Biorefinery Design
Uncertainties in Early-Stage Capital Cost Estimation of Process Design – A Case Study on Biorefinery Design
复制标题
工艺设计早期资本成本估算的不确定性——生物精炼设计案例研究
DOI:
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发表时间:
2015
影响因子:
3.4
通讯作者:
G. Sin
中科院分区:
文献类型:
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作者:
Peam Cheali;K. Gernaey;G. Sin
Capital investment, next to the product demand, sales and production costs, is one of the key metrics commonly used for project evaluation and feasibility assessment. Estimating the investment costs of a new product/process alternative during early stage design is a challenging task. This is especially important in biorefinery research, where available information and experiences with new technologies is limited. A systematic methodology for uncertainty analysis of cost data is proposed that employs (a) Bootstrapping as a regression method when cost data is available and (b) the Monte Carlo technique as an error propagation method based on expert input when cost data is not available. Four well-known models for early stage cost estimation are reviewed an analyzed using the methodology. The significance of uncertainties of cost data for early stage process design is highlighted using the synthesis and design of a biorefinery as a case study. The impact of uncertainties in cost estimation on the identification of optimal processing paths is found to be profound. To tackle this challenge, a comprehensive techno-economic risk analysis framework is presented to enable robust decision making under uncertainties. One of the results using an order-of-magnitude estimate shows that the production of diethyl ether and 1,3-butadiene are the most promising with economic risks of 0.24 MM$/a and 4.6 MM$/a due to uncertainties in cost estimations, respectively.