Electrochemical CO2 Conversion Commercialization Pathways: A Concise Review on Experimental Frontiers and Technoeconomic Analysis

Technoeconomic analysis (TEA) studies are vital for formulating guidelines that drive the commercialization of electrochemical CO2 reduction (eCO2R) technologies. In this review, we first discuss the progress in the field of eCO2R processes by providing current state-of-the-art metrices (e.g., faradic efficiency, current density) based on the recent heterogeneous catalysts' discovery, electrolytes, electrolyzers configuration, and electrolysis process designs. Next, we assessed the TEA studies for a wide range of eCO2R final products, different modes of eCO2R systems/processes, and discussed their relative competitiveness with relevant commercial products. Finally, we discuss challenges and future directions essential for eCO2R commercialization by linking suggestions from TEA studies. We believe that this review will catalyze innovation in formulating advanced eCO2R strategies to meet the TEA benchmarks for the conversion of CO2 into valuable chemicals at the industrial scale.