Browse
Keywords
Records with Keyword: Technoeconomic Analysis
Short-Cut Correlations for CO2 Capture Technologies in Small-Scale Applications
October 13, 2025 (v2)
Subject: Energy Systems
Keywords: Carbon Capture, Short-cut correlations, Small-scale capture, Technoeconomic Analysis
The escalating urgency to address climate change has driven carbon capture (CC) technologies into the spotlight, particularly for large-scale emitters, which benefit from economies of scale. However, small-scale emitters account for a significant share of CO2 emissions, yet such applications remain largely overlooked in the literature. While CC cost is often used as a key performance indicator (KPI) for CC technologies, the lack of standardized cost estimation methods leads to inconsistencies, complicating comparisons, and hindering the deployment of CC systems. This study addresses these challenges by developing flexible short-cut correlations for selected CC technologies, providing estimates of the total equipment cost (TEC) and energy consumption specific to small-scale applications across various CO2 inlet concentrations (mol%) and capture scales (10 100 kt/y). The flexibility of the correlations enables the integration of various cost estimation methods available in the literatu... [more]
Production of Olefins from Carbon Dioxide and Renewable Energy
September 11, 2025 (v1)
Subject: Process Design
Keywords: Carbon Dioxide, Electrolysis, Methanol, Olefins, Process Design, Renewable and Sustainable Energy, Technoeconomic Analysis
Nowadays, it is crucial to change daily habits to live in a more sustainable world. From an industrial point of view, the capture of CO2 is becoming more and more important in the chemical industry to reduce greenhouse gas emissions and its reuse can be an alternative to fossil resources. Another major challenge for future engineers is the significant increase in the use of renewable energy sources. In this perspective, a process allowing the synthesis of three different olefins from CO2 captured in industrial flue gases and using only wind energy is established. This process is separated into three major sections: water electrolysis, carbon dioxide reduction to produce methanol and methanol-to-olefins synthesis. The targeted production capacity is of 450 000 tonnes per year of olefins, which are considered to be ethylene, propylene and butylene. This process, which involves a complete flowsheet modelling is implemented with the Aspen Plus software. A heat integration is performed to i... [more]
Robust Techno-economic Analysis, Life Cycle Assessment, and Quality and Sustainability by Digital Design of Three Alternative Continuous Pharmaceutical Tablet Manufacturing Processes
June 27, 2025 (v1)
Subject: Environment
Keywords: gProms, Life Cycle Assessment, Modelling and Simulations, Pharmaceutical tableting, Quality and and Sustainability by Digital Design QSbDD, Technoeconomic Analysis
This study presents a comprehensive comparison of the three alternative downstream manufacturing technologies for pharmaceuticals: i) Dry Granulation (DG) through roller compaction, ii) Direct Compaction (DC), and iii) Wet Granulation (WG) based on the economic, environmental and product quality performances. Firstly, the integrated dynamic mathematical models of the different downstream (drug product) processes were developed using gPROMS formulated products based on data from the literature or/and our recent experimental work. The process models were developed and simulated to reliably capture the impact of the different design options, process parameters, and material attributes. Uncertainty analysis was conducted using global sensitivity analysis to identify the set of critical process parameters (CPP) and critical material attributes (CMA) that mostly influence the quality and performance of the final pharmaceutical tablets in each case, captured by the critical quality attribute... [more]
Integrating process and demand uncertainty in capacity planning for next-generation pharmaceutical supply chains
June 27, 2025 (v1)
Subject: Planning & Scheduling
Keywords: Advanced Pharmaceutical Manufacturing, Planning & Scheduling, Stochastic Optimization, Supply Chain, Technoeconomic Analysis
Emerging sectors within the biopharmaceutical industry are undergoing rapid scale-up due to the market boom of gene therapies and vaccine platform technologies. Manufacturers are pressured to orchestrate resources and plan investments under future demand uncertainty and, critically, an early-stage process uncertainty for platforms still under development. In this work, a multi-product multi-stage stochastic optimization problem integrating demand uncertainty is presented and augmented with a worst-case optimization approach with respect to process uncertainty. Results focus on a comparison between fixed equipment facilities and modular technologies, highlighting an inherent flexibility of the latter option due to shorter recourse actions for capacity scale-out. The impact of process uncertainty integration is quantified. With more conservative decisions taken in first-stages of the time horizon, expected costs result lower for modular single-use equipment. This suggests that capacity a... [more]
Techno-economic Assessment of Sustainable Aviation Fuel Production via H2/CO2-Based Methanol Pathway
June 27, 2025 (v1)
Subject: Process Design
To achieve long-term greenhouse gas neutrality in aviation, replacing fossil aviation fuels with Sustainable Aviation Fuels (SAF) from renewable sources is essential. A SAF production process from renewable hydrogen and carbon dioxide, was designed using Aveva Process Simulation, followed by comprehensive economical assessments. The designed process leads to an annual production of 37kt of SAF, with 97% of the molecules featuring a carbon chain length between 8 and 16. This output indicates a robust and targeted production capability. With an in-depth optimization of the methanol reactor, it was found that the profitability of the plant aligns with other SAF studies, demonstrating a Minimum Selling Price of Product of $2.46/kg after Heat Integration. In terms of economic profitability, the production of SAF using the methanol pathway appears to be an alternative to other SAF production pathways such as Fischer-Tropsch process but resides dependent on the evolution of H2 production tech... [more]
Optimization of Sustainable Fuel Station Retrofitting: A Set-Covering Approach considering Environmental and Economic Objectives
June 27, 2025 (v1)
Subject: Environment
Keywords: Life Cycle Assessment, Optimization, Renewable and Sustainable Energy, Supply Chain, Technoeconomic Analysis
In this work, we propose a mixed-integer linear programming (MILP) model that optimizes economic and environmental objectives by retrofitting fuel stations for the case study of Spain. The model contains set-covering constraints that ensure that there is at least one retrofitted fuel station within a radius of 20 kilometers of each retrofitted fuel station. The results indicate that by retrofitting fuel stations to allow for electric vehicles, both economic and environmental objectives improve, while showing which power plants would be tasked with the increase in electricity production to satisfy the increased electric demand.
A Framework Utilizing a Seamless Integration of Python with AspenPlus® for a Multi-Criteria Process Evaluation
June 27, 2025 (v1)
Subject: Modelling and Simulations
Detailed assessment of fuel production processes at an early stage of a project is crucial to identify potential technical challenges, optimize efficiency and minimize costs and environmental impact. While process simulations often are either very rigid and accurate or very flexible and unprecise, informed decision making can only be maintained by establishing a detailed process model as early as possible within the project lifecycle while keeping relevant aspects of the process flexible enough. In this work, we present the development of a framework based on a dynamic interface between AspenPlus® process simulations and Python, enabling enhanced flexibility and automation for process modeling and optimization. This integration leverages the powerful simulation capabilities of AspenPlus® with the versatility of Python for data analysis and optimization, delivering significant improvements in workflow efficiency and process control. By utilizing the dynamic simulation data exchange with... [more]
Optimizing Industrial Heat Electrification: Balancing Cost and Emissions
June 27, 2025 (v1)
Subject: Energy Systems
The electrification of industrial heat is a promising pathway for decarbonization, yet challenges persist in balancing capital costs, operating costs, and emissions reduction. While previous studies have assessed electrification through heat integration and graphical methods, these approaches do not inherently determine the optimal hybrid technology configuration. This study introduces an optimization-based framework that systematically evaluates the cost-optimal allocation of electrified and conventional heating technologies. Formulated as a Mixed-Integer Linear Programming (MILP) model and implemented in Gurobi, the framework minimizes Total Annualized Cost (TAC) while satisfying heat demand, technology constraints, and emissions targets. Applied to an industrial case study, the model compares three scenarios: a fully conventional system relying on steam boilers and fired heaters, a fully electrified system utilizing high-temperature heat pumps, electrode boilers, and electric heater... [more]
Multi-Objective Optimization and Analytical Hierarchical Process for Sustainable Power Generation Alternatives in the High Mountain Region of Santurbán: case of Pamplona, Colombia
June 27, 2025 (v1)
Subject: Energy Systems
Keywords: Analytical Hierarchical Process, Multi-objective optimization, Numerical Methods, Renewable and Sustainable Energy, Technoeconomic Analysis
This study presents an integrated approach combining the Analytic Hierarchy Process (AHP) with a Mixed-Integer Multi-Objective Linear Programming (MOMILP) model to evaluate sustainable power generation alternatives for Pamplona, Colombia. The MOMILP model includes solar, wind, biomass, and diesel technologies, aiming to minimize costs (net present value) and CO2 emissions while considering design, operational, and budget constraints. The AHP method evaluates multiple criteria such as social acceptance, job creation, technological maturity, and environmental impact. The results show that solar panels are prioritized, with small diesel plants added due to resource limitations. The most sustainable option is a hybrid system with 49% solar, 29% wind, 14% biomass and 8% diesel, generating a net present value of 121,360 USD and 94,720 kg of CO2 emissions. The proposed methodology can be applied to assess and select the most feasible alternative within a wide range of new projects for the int... [more]
10. LAPSE:2025.0339
Modeling, Simulation and Optimization of a Carbon Capture Process Through a TSA Column
June 27, 2025 (v1)
Subject: Modelling and Simulations
Keywords: Adsorption, Carbon Dioxide Capture, GAMS, Modelling and Simulations, Optimization, Technoeconomic Analysis
By capturing carbon dioxide from biomass flue gases, energy processes with negative carbon footprint are achieved. Among carbon capture methods, the fluidized temperature swing adsorption (TSA) column is a promising low-pressure alternative, but it has been developed on small scales. This work aims to model, simulate and optimize a fluidized TSA multi-stage equilibrium system to obtain a cost estimate and a conceptual design for future process scale up. A mathematical model described adsorption in multiple stages, each with a heat exchanger, coupled to the desorption operation. The model was based on elementary macroscopic molar and energy balances, coupled to pressure drops in a fluidized bed designed to operate close to the minimum fluidization velocity, and coupled to thermodynamics of adsorption equilibrium of a mixture of carbon dioxide and nitrogen in solid sorbents (the Toth equilibrium isotherm was used). The complete fluidized TSA process has been optimized to minimize costs,... [more]
11. LAPSE:2025.0249
Potential of chemical looping for green hydrogen production from biogas: process design and techno-economic-environmental analysis
June 27, 2025 (v1)
Subject: Process Design
Keywords: Chemical Looping, Hydrogen, Process Synthesis, Renewable and Sustainable Energy, Technoeconomic Analysis
Hydrogen (H2), as the promising alternative to fossil fuel-based energy carriers, faces the critical challenge of diversifying its sources and lowering production costs. Biogas, produced from organic waste, offers a renewable and carbon-neutral option for H2 production, but its high CO2 content requires a pre-separation process of CO2 from CH4 or specialized catalysts for use in existing reforming processes. Chemical looping reforming (CLR), as an advanced H2 production process, uses an oxygen carrier (OC) as the oxidant, allowing raw biogas to be used directly in the reforming process. Recently, numerous studies on CLR design and analysis have demonstrated their growing economic feasibility. However, deploying the CLR process in the biogas treatment industry requires further research to analyze its technical, economic, and environmental performance under target capacities and H2 purity. This study proposes biogas-based CLR processes and analyzes the capability of the processes from te... [more]
12. LAPSE:2025.0248
Sustainable production of L-lactic acid from lignocellulosic biomass using an alternative buffer system: Process development and techno-economic and environmental analysis
June 27, 2025 (v1)
Subject: Environment
Keywords: alternative buffer, L-lactic acid, lignocellulosic biomass, process development, Technoeconomic Analysis
L-lactic acid (L-LA), a key monomer in biodegradable plastics, is a sustainable alternative that can be derived from LCB. The L-LA production process typically involves various technologies such as fermentation, filtration, and distillation. In the L-LA production process, large amounts of buffers are used to maintain proper pH during fermentation, so conventional buffers (e.g., CaCO3) are often selected because of their low cost. However, these buffers cannot be recycled efficiently, and the potential for alternative buffers remains uncertain. In this work, we aim to develop and evaluate novel processes for sustainable L-LA production using the alternative buffer (i.e., KOH). The processes involve a series of different unit operations such as pretreatment, fermentation, extraction, and electrolysis. An efficient buffer regeneration process using membrane electrolysis is implemented to recycle the buffer with minimal energy input. Then, we evaluated the viability of the proposed proces... [more]
13. LAPSE:2025.0240
Assessing the economic viability of green methanol production: The critical role of CO2 purity in green methanol production
June 27, 2025 (v1)
Subject: Process Design
Keywords: CO2 hydrogenation, Green methanol production, Technoeconomic Analysis
The growing concern over climate change and rising carbon dioxide (CO2) emissions have spurred the development of strategies to upcycle greenhouse gases. One promising solution is the synthesis of green methanol via catalytic hydrogenation of captured CO2 using renewable hydrogen (H2). This provides a versatile chemical feedstock for fuels and industrial processes while reducing CO2 levels. Recent advancements in CO2 capture technologies achieve purities ranging from 83% to 98% (v/v), enabling a sustainable integration with green hydrogen for methanol production. While research has largely focused on CO2 purities above 96%, such models overlook the variability and lower purities typical of industrial carbon capture streams. Addressing this gap, this study examines the economic impacts of CO2 purity on methanol synthesis. Using Aspen Hysys V14, the hydrogenation process is simulated to assess the effects of varying CO2 purities on operational costs, yield, and profitability, providing a... [more]
14. LAPSE:2025.0233
Valorization of refinery fuel gas and biogenic gases from thermochemical conversion into low-carbon methanol
June 27, 2025 (v1)
Subject: Process Design
By-product fuel gases from refinery operations are a major heat source in fossil refineries and their availability poses a challenge to the deployment of low-carbon heat sources. This study evaluates the valorization of refinery fuel gases (RFG) into low-carbon methanol via co-processing with residual biogenic gas streams from biomass thermochemical conversion. Results from techno-economic analysis indicate that up to 44 wt.% of biogenic blend is possible without the need for external hydrogen supply, while electricity and heat requirements per tonne of methanol change by -4 % and + 80% respectively. Nevertheless, at the 44 wt.% blend, the estimated methanol cost increases only by 2.4 % (0.43 EUR/kg), while the reduction in methanol carbon intensity is approximately 40 %. This highlights promising benefits that can contribute to the integration of bio-oils producing technologies within fossil refineries.
15. LAPSE:2025.0176
Techno-economic analysis of a novel small-scale blue H2 and N2 production system
June 27, 2025 (v1)
Subject: Process Design
Keywords: Dynamic Modelling, Hydrogen, Nitrogen, Process Design, Process Intensification, Technoeconomic Analysis
This study presents an economic analysis of a blue H2-N2 production system, using a novel intensified reformer system with a hydrogen production efficiency of 80%. The systems ability to produce both high-purity H2 and N2 creates opportunities for small-scale blue H2 and distributed ammonia production. The system consists of three identical, optimized fixed-bed reforming reactors, a heat recovery system, and shift reactors. A dynamic model was developed to simulate three small-scale H2 production systems: 2.8 tpd, 7.1 tpd, and 17.1 tpd, enabling an evaluation of their economic viability. The results indicate that the cost of H2 production ranges from 2.7 to 3.1 USD/kgH2. Sensitivity analysis reveals that natural gas and CO2 transportation costs have a significant impact on the variability of H2 price. This research provides valuable insights into the economic feasibility of small-scale blue hydrogen production, offering a pathway to support the broader adoption of hydrogen technologie... [more]
16. LAPSE:2025.0031
Digital Supplementary Material: Short-Cut Correlations for CO2 Capture Technologies in Small-Scale Applications
January 31, 2025 (v1)
Subject: Modelling and Simulations
Keywords: Carbon Capture, Short-cut Correlations, Small-scale carbon capture, Technoeconomic Analysis
The escalating urgency to address climate change has driven carbon capture (CC) technologies into the spotlight, particularly for large-scale emitters, which benefit from economies of scale. However, small-scale emitters account for a significant share of CO2 emissions, yet such applica-tions remain largely overlooked in the literature. While CC cost is often used as a key perfor-mance indicator (KPI) for CC technologies, the lack of standardized cost estimation methods leads to inconsistencies, complicating comparisons, and hindering the deployment of CC sys-tems. This study addresses these challenges by developing flexible short-cut correlations for selected CC technologies, providing estimates of the total equipment cost (TEC) and energy consumption specific to small-scale applications across various CO2 inlet concentrations (mol%) and capture scales (10 – 100 kt/y). The flexibility of the correlations enables the integration of various cost estimation methods available in the liter... [more]
17. LAPSE:2025.0025
Supplementary Material - Assessing the Synergies of Thermochemical Energy Storage with Concentrated Solar Power and Carbon Capture
January 31, 2025 (v2)
Subject: Optimization
Keywords: Carbon capture and storage, Concentrated Solar Power, Levelized cost of Electricity, Mixed Integer Nonlinear Programming model, Modelling, Oxy-fuel Combustion, Stochastic Optimization, Technoeconomic Analysis, Thermochemical Energy Storage
The complete stochastic-based optimization model for the CSP-TCES-OFC and CSP-TCES-ASU processes are given here.
18. LAPSE:2025.0021
Digital supplementary material - Sustainable production of L-lactic acid from lignocellulosic biomass using an alternative buffer system: Process development and techno-economic and environmental analysis
March 9, 2025 (v3)
Subject: Process Design
Keywords: alternative buffer, L-lactic acid, lignocellulosic biomass, process development, Technoeconomic Analysis
L-lactic acid (L-LA), a key monomer in biodegradable plastics, is a sustainable alternative that can be derived from LCB. The L-LA production process typically involves several various technologies such as fermentation, filtration, and distillation. In the L-LA production process, large amounts of buffers are used to maintain proper pH during fermentation, so conventional buffers (e.g., CaCO3) are often selected because of their low cost. However, these buffers cannot be recycled efficient-ly, and the potential for alternative buffers remains uncertain. In this work, we aim to develop and evaluate novel processes for sustainable L-LA production using the alternative buffer (i.e., KOH). The processes involve a series of different unit operations such as pretreatment, fermentation, ex-traction, and electrolysis. An efficient buffer regeneration process using membrane electrolysis is implemented to recycle the buffer with minimal energy input. Then, we evaluated the viability of the propo... [more]
19. LAPSE:2025.0014
Supplementary material: Valorization of refinery fuel gas and biogenic gases from thermochemical conversion into low-carbon methanol. ESCAPE35 article
March 14, 2025 (v2)
Subject: Process Design
This document contains supplementary material related to the article "Valorization of refinery fuel gas and biogenic gases from thermochemical conversion into low-carbon methanol", submitted to the 35th European Symposium on Computer Aided Process Engineering (ESCAPE 35).
20. LAPSE:2024.1628
Exploring Net-Zero Greenhouse Gas Emission Routes for Bio-Production of Triacetic Acid Lactone: An Evaluation through Techno-Economic Analysis and Life Cycle Assessment
August 16, 2024 (v2)
Subject: Environment
Keywords: Life Cycle Assessment, Technoeconomic Analysis
Triacetic acid lactone (TAL) is a bio-privileged molecule with potential as a chemical precursor, traditionally synthesized from petroleum. Current trends are shifting towards the use of renewable biomass or CO2-derived feedstocks to enhance sustainability. However, comprehensive studies on the techno-economic viability and carbon life cycle of such methods are limited. This study assesses TAL production from conventional glucose and a novel approach co-feeding Yarrowia lipolytica (YL) with glucose and formic acid (FA), aiming for a more cost-effective and eco-friendly process. We confront the inherent challenges in this process by exploring different technology scenarios using kinetic bioprocess modeling underpinned by techno-economic analysis (TEA) and life cycle assessment (LCA) to identify the most cost-effective and sustainable routes to TAL production. A noteworthy component of our investigation centers around the prospect of recycling and utilizing the CO2 emitted from the YL bi... [more]
21. LAPSE:2024.1613
Optimal Design of Food Packaging Considering Waste Management Technologies to Achieve Circular Economy
August 16, 2024 (v2)
Subject: Environment
Plastic packaging plays a fundamental role in the food industry, avoiding food waste and facilitating food access. The increasing plastic production and the lack of appropriate plastic waste management technologies represent a threat to the environmental and human welfare. Therefore, there is an urgent need to identify sustainable packaging solutions. Circular economy (CE) promotes reducing waste and increasing recycling practices to achieve sustainability. In this work, we propose a CE framework based on multi-objective optimization, considering both economic and environmental impacts, to identify optimal packaging designs and waste management technologies. Using mixed-integer linear programming (MILP), techno-economic analysis (TEA), and life cycle assessment (LCA), this work aims to build the first steps in packaging design, informing about the best packaging alternatives and the optimal technology or technologies to process packaging waste. For the economic analysis, we consider th... [more]
22. LAPSE:2024.1612
A Fast Computational Framework for the Design of Solvent-Based Plastic Recycling Processes
August 16, 2024 (v2)
Subject: Process Design
Keywords: Life Cycle Analysis, Modelling and Simulations, Polymers, Process Design, Technoeconomic Analysis
Multilayer plastic films are widely used in packaging applications because of their unique properties. These materials combine several layers of different polymers to protect food and pharmaceuticals from external factors such as oxygen, water, temperature, and light. Unfortunately, this design complexity also hinders the use of traditional recycling methods, such as mechanical recycling. Solvent-based separation processes are a promising alternative to recover high-quality pure polymers from multilayer film waste. One such process is the Solvent-Targeted Recovery and Precipitation (STRAPTM) process, which uses sequential solvent washes to selectively dissolve and separate the constituent components of multilayer films. The STRAPTM process design (separation sequence, solvents, operating conditions) changes significantly depending on the design of the multilayer film (the number of layers and types of polymers). Quantifying the economic and environmental benefits of alternative process... [more]
23. LAPSE:2024.1605
Screening Green Solvents for Multilayer Plastic Films Separation
August 16, 2024 (v2)
Subject: Process Design
Keywords: COSMO-RS, Green Solvents, Life Cycle Analysis, Plastics Recycling, Polymer, Process Design, Technoeconomic Analysis
This paper introduces a computational framework for selecting green solvents to separate multilayer plastic films, particularly those challenging to recycle through mechanical means. The framework prioritizes the selective dissolution of polymers while considering solvent toxicity. Initial screening relies on temperature-solubility dependence, utilizing octanol-water partition coefficients (LogP) to identify non-toxic solvents (LogP = 3). Additionally, guidelines from GlaxoSmithKline (GSK), Registration, Evaluation, Authorization, and Restriction of Chemical Regulation (REACH), and the US Environmental Protection Agency (EPA) are employed to screen for green solvents. Molecular-scale models predict temperature-dependent solubilities and LogP values for polymers and solvents. The framework is applied to identify green solvents for separating a multilayer plastic film composed of polyethylene (PE), ethylene vinyl alcohol (EVOH), and polyethylene terephthalate (PET). The case study demons... [more]
24. LAPSE:2024.1604
Integrated Ex-Ante Life Cycle Assessment and Techno-Economic Analysis of Biomass Conversion Technologies Featuring Evolving Environmental Policies
August 16, 2024 (v2)
Subject: Process Design
Keywords: Biomass, Life Cycle Analysis, Process Design, Technoeconomic Analysis, Technoeconomic Analysis
Biorefineries can reduce carbon dioxide emissions while serving the global chemical demand market. Governments are also using carbon pricing policies, such as carbon taxes, cap-and-trade models, and carbon caps, as a strategy to reduce emissions. The use of biomass feedstocks in conjunction with carbon capture usage and storage technologies are mitigation strategies for global warming. Businesses can invest in these technologies to accommodate the adoption of these policies. Rapid action is necessary to halt global warming, which results in aggressive policies. In this work, a multi-period process design and planning problem is developed for the design and capacity expansion of biorefineries. The three carbon pricing policies are integrated into the model and parameters are selected according to the aggressive scenario denoted by the Paris Agreement. The results show that the cap-and-trade policy achieves a higher net present value evaluation over the carbon tax model across all pareto... [more]
25. LAPSE:2024.1604
Integrated Ex-Ante Life Cycle Assessment and Techno-Economic Analysis of Biomass Conversion Technologies Featuring Evolving Environmental Policies
August 16, 2024 (v2)
Subject: Process Design
Keywords: Biomass, Life Cycle Analysis, Process Design, Technoeconomic Analysis, Technoeconomic Analysis
Biorefineries can reduce carbon dioxide emissions while serving the global chemical demand market. Governments are also using carbon pricing policies, such as carbon taxes, cap-and-trade models, and carbon caps, as a strategy to reduce emissions. The use of biomass feedstocks in conjunction with carbon capture usage and storage technologies are mitigation strategies for global warming. Businesses can invest in these technologies to accommodate the adoption of these policies. Rapid action is necessary to halt global warming, which results in aggressive policies. In this work, a multi-period process design and planning problem is developed for the design and capacity expansion of biorefineries. The three carbon pricing policies are integrated into the model and parameters are selected according to the aggressive scenario denoted by the Paris Agreement. The results show that the cap-and-trade policy achieves a higher net present value evaluation over the carbon tax model across all pareto... [more]




