Techno-economic Analysis of CO2 Electroreduction

Electrochemical reduction of carbon dioxide (CO2) is a promising alternative to mitigate hard-to-abate sectors, which may produce clean fuels and chemicals using renewable energy. This chapter describes the techno-economic fundamentals for assessing a general CO2 electroreduction system. The methodological insights are summarized and exemplified with a case study for formic acid. Carbon footprint and costs benchmarks for fossil fuel production of formic acid can be found in the literature, which have been compared with different electrochemical techno-economic scenarios based on different restrictions like available solar energy supply, electrified heat, and process efficiencies. Some reported results are summarized, and their significant conclusions extracted. The chapter concludes with future challenges and potential pitfalls in the technology assessment and a view of its role in the decarbonization of hard to abate chemical sectors.