Does the carbon removal tech you’re developing have a shot at being cost-competitive in the real world? How might you reduce the cost of a given CDR technology? And how do you convince government funders or investors that your carbon removal idea is viable?
A techno-economic assessment or TEA answers these questions.
So, what is involved in conducting a techno-economic assessment? And how might it help a startup improve the economic performance of its climate tech and maximize its impact?
Grant Faber is Founder and President of Carbon-Based Consulting, a firm that offers techno-economic assessments, early-stage emissions accounting, and market research for startups, investors, and environmental nonprofits in the CDR and CCUS space.
On this bonus episode of Reversing Climate Change, Grant joins Ross, Siobhan, and Asa to explain why an understanding of economics is crucial in carbon removal and how a TEA helps us determine the cost per tonne of carbon removal.
Grant walks us through the concept of learning rates, discussing why different technologies have different learning rates, and how founders might apply these principles to reduce costs.
Listen in for insight on the potentially arbitrary nature of life cycle assessments and learn how Grant can help your organization accelerate the commercialization of carbon removal technology.
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Resources
Global CO2 Initiative TEA Guidelines
‘Factors Affecting the Cost of Airplanes’ in the Journal of Aeronautical Sciences
‘Evaluating the Causes of Cost Reduction in Photovoltaic Modules’ in Energy Policy
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