Publication Date

4-20-2021

Department

Ames Laboratory

Campus Units

Ames Laboratory

OSTI ID+

1779776

Report Number

IS-J 10471

DOI

10.1016/j.spc.2021.04.013

Journal Title

Sustainable Production and Consumption

Volume Number

27

First Page

1718

Last Page

1727

Abstract

Rare Earth Elements (REEs) are essential for sustainable energy technologies. Techno-economic Assessments (TEAs) have been conducted to evaluate innovative approaches to recover REEs from waste streams. However, most TEA studies do not consider the price volatility of REEs, which raises concern over the reliability of the analysis in an unpredictable dynamic market. To address this shortcoming, a dynamic price model is proposed that adjusts REE price based upon supply-demand conditions. The dynamic market behavior is simulated and its effect on a TEA is examined via a case study. The results of the dynamic simulation indicate a growing trend of the market price for REE materials/products. Compared to a conventional TEA that does not consider price dynamics, a significant difference in economic performance metrics is identified from the dynamic TEA results. The proposed dynamic TEA method is not limited to a specific application and can provide insights for evaluating a broad range of technologies.

DOE Contract Number(s)

AC02-07CH11358

Language

en

Publisher

Iowa State University Digital Repository, Ames IA (United States)

Available for download on Wednesday, April 20, 2022

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