Cost Assessment
Cost Assessment
Analysis of a device's cost, economic feasibility, or other cost-related evaluations (e.g., techno-economic assessments, cost optimization studies).
Cost assessment is a broad term used to refer to any cost-related evaluations. Related studies may analyze a particular device’s manufacturing costs, a particular country’s market for marine renewables, or various cost optimization pathways. An economic feasibility study may, for example, determine the degree to which the economic advantages of developing a particular marine renewable energy device compares to the economic costs. Similarly, a techno-economic analysis may be used to evaluate the technical and economic performance of a process or product.
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