Sapient Services on the significance of Techno Economic Viability for sustainable development
A fundamental notion called "techno economic viability" combines technology with economics to evaluate a project or endeavor's viability and profitability. It is essential for guiding innovation and building sustainable development. We will discuss the relevance of TEV in this blog post, looking at its effects on various industries and its contribution to long-term economic growth. What is Techno Economic Viability's purpose? Analyses of a technology or project's techno-economic viability are conducted to ascertain whether it is both technically and economically feasible. They entail performing in-depth assessments, computations, and forecasts to comprehend the potential risks and benefits connected with putting into practice a particular technology or embarking on a particular project. Determining if a technology has the potential to be economically sustainable and competitive in the market is essential in the context of technological development...