Technoeconomic analysis for biofuels and bioproducts

[Display omitted] •Technoeconomic analysis involves process design and simulation.•New studies have expanded to incorporate market size, policy incentives, and use.•There is a trend toward lightweight open-source TEA tools.•Inclusion both fuels and co-products complicates methods and performance metrics.•Integration of TEA with high-throughput experimental pipelines is promising. Technoeconomic analysis (TEA) is an approach for conducting process design and simulation, informed by empirical data, to estimate capital costs, operating costs, mass balances, and energy balances for a commercial scale biorefinery. TEA serves as a useful method to screen potential research priorities, identify cost bottlenecks at the earliest stages of research, and provide the mass and energy data needed to conduct life-cycle environmental assessments. Recent studies have produced new tools and methods to enable faster iteration on potential designs, more robust uncertainty analysis, and greater accessibility through the use of open-source platforms. There is also a trend toward more expansive system boundaries to incorporate the impact of policy incentives, use-phase performance differences, and potential impacts on global market supply.