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evaporation. The X-axis represents the price of the product made in the ECFORM process. This depends on many factors, including the volume manufactured and market demands. The Y-axis represents the CO2 price, either through a trading scheme or a tax. The numbers represent different values of profitability (assumed as a simple difference between expected value of price minus cost) for the different scenarios. The cost is calculated assuming an energy consumption of 3859 kW/ton formic acid. Electricity prices are assumed to range from $0.07/ kWh to $0.15/kWh, with a peak frequency at $0.10/kWh. The energy cost therefore ranges from $270 to $578 per ton of formic acid, with an average of $420 per ton of formic acid. For example, if the price of formic acid is assumed to be $1220/ton and the price of CO2 is $200/ ton of CO2 (1 ton of formic acid reduces CO2 by almost 1 ton), then operational profit is $1200+$200-$420 = $980 per ton. Our analyses indicate that the simple margins (price minus the cost of manufacturing) are beneficial for this process under the scenarios considered. 15PDF Image | Electrochemical Conversion of CO2
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