"Techno-economic Analysis (TEA) plays an important role in determining which processes and projects are economically competitive and scalable as well as environmentally and socially acceptable. TEA uses analytical modeling to examine how technical and financial parameters influence economic benefit. These parameters span technical, financial and economic benefits. TEA is valuable for assessing economic viability, but a good techno-economic model (TEM) is more than a one-off analysis; it is a tool for understanding design tradeoffs and development risks, and for effectively guiding the development of a technology. For example, TEA sensitivity analyses, like tornado diagrams, can help developers to identify technical opportunities, risks, and areas of uncertainty."-- Provided by publisher.