Economics of methanol utilization for fuels

Ahmed I. Osman, Tanmay J. Deka, Haotian Bai, Pow-Seng Yap, David W. Rooney

Research output: Chapter in Book/Report/Conference proceedingEntry for encyclopedia/dictionary

Abstract

The methanol economy has emerged as a promising sustainable energy solution, potentially reducing fossil fuel dependency and greenhouse gas emissions. This chapter presents a comprehensive overview of the economics surrounding methanol utilization for fuels. Emphasis is placed on the production processes, market potential, economic models, policy and regulatory considerations, and future prospects.

In assessing the feasibility of methanol production, we evaluate the associated costs and profitability across various sources. Furthermore, we analyze the market potential of methanol as a fuel in diverse applications. To assess its viability, we delve into different economic models employed to gauge the suitability of methanol as an alternative fuel source. The impact of policy and regulatory frameworks on the adoption and utilization of methanol is thoroughly examined. Case studies are included to illustrate both successful and unsuccessful applications of methanol as a fuel, employing economic modeling as a basis for analysis.

Finally, we present recommendations for future research directions and policy actions to foster the development of the methanol economy. This chapter aims to contribute to understanding and advancing sustainable energy systems by providing a comprehensive analysis of the economics surrounding methanol utilization.

Original languageEnglish
Title of host publicationReference module in chemistry, molecular sciences and chemical engineering
PublisherElsevier
ISBN (Electronic)9780124095472
DOIs
Publication statusPublished - 23 Dec 2024

Keywords

  • methanol
  • fossil fuels
  • greenhouse gas emissions
  • alternative fuels

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