TEACOS stands for Techno-Economic Analysis Of Complex Option Spaces and is a Long-Term Optimization Tool.
TEACOS stands for Techno-Economic Analysis Of Complex Option Spaces and is a Long-Term Optimization Tool. The tool provides credible, affordable and competitive transition pathways towards a low carbon Energy System and due to its general structure can be used for every production sector.
TEACOS is a Multi-Period – Mixed Integer Linear Programming consisting of four building blocks, as presented in the figure. These building blocks are supply, conversion infrastructure, transport infrastructure and demand. All the data in this model is with temporal and spatial granularity, which means that both location and timing is included in the model. TEACOS optimizes the transition pathways to obtain the highest margin or lowest cost over a given time horizon, based on the Netto Present Value. It detects the most profitable investments over time and locations, given a predefined supply/demand scenario and potential environmental constraints. Sensitivity checks can be performed within the model to detect the robustness of transition pathways and tipping-points for the profitability of investments. A summary of the workflow of TEACOS is presented in the figure.
TEACOS is used in multiple applications.