Volume 4: Innovative Solutions for Energy Transitions: Part III

Stoachastic Techno-economic Analysis for an Integrated Strategy to Coproduce Jet Fuel Range Alkenes and Pentanediols Jaewon Byun, Jeehoon Han

Abstract

We evaluate the techno-economics of an integrated strategy to coproduce biofuels (Jet fuel range alkenes (JFA)) and biochemicals (pentanediols and pentane). Coproduction of biochemicals could improve the economics of biofuels production, and this study shows the feasibility of proposed strategy by stochastic analysis. Monte Carlo simulation is introduced for the stochastic analysis considering the uncertainty in major economic parameters of integrated strategy. The stochastic analysis obtains the distribution of minimum selling price of JFA. The integrated strategy considering uncertainties in key economic parameters has low minimum selling price of JFA ($2.86 and 3.17 per gallon of gasoline equivalent (GGE)), and the price is within the price range of biofuels ($2.90-4.82 per GGE).

Keywords Biofuels, Biochemicals, Stochastic analysis, Monte Carlo simulation, Techno-economic feasibility