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    • A Standardized Parametric Framework for Techno-economic Analysis of Renewable and Clean Energy Systems

    Muhammad Sadiq,Ahmad Mayyas,Max Wei

    Renewable Energy（2025）

    Department of Management Science and Engineering

    Cited 0|Views1
    Abstract
    To foster informed policy formulation and decision-making for the evolving energy transition and the rising demand for renewable and clean energy systems (REACES), it is imperative to establish a standardized and comprehensive Techno-Economic Analysis (TEA) method for widespread adoption. Existing TEA studies on REACES have been noted to contain significant inconsistencies and deficiencies in the economic frameworks, financial parameters, decision-making metrics, and methodological approaches. Key TEA parameters, such as balance of plant, land, and contingency cost, etc., were found underutilized, with implementation rates of only 36%, 28%, and 26%, respectively. This study addresses these critical gaps by developing a robust, comprehensive, and standardized TEA model specifically tailored to REACES. System-level macro- and micro parameters related to technical, economic, financial, and business risk were integrated. The impact of key parameters illustrated through a pilot case study emphasized that overlooking these parameters significantly skews the final decision metrics. Excluding incentives resulted in an 18% underestimation of the Levelized Cost of Energy (LCOE) and a 14% miscalculation in the Discounted Payback Period. Implementing this standardized model will enhance the accuracy, consistency, and credibility of TEA practices, enabling more precise evaluations and fostering meaningful cross-comparisons among various REACES.
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    Key words
    Economic analysis,Energy transition,Standardization,Techno-economic model
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