煤炭地下气化(UCG)是我国清洁高效煤炭能源结构发展战略所驱，其产业化前景取决于项目的经济社会效益。立足这一背景，回顾了国内外UCG项目经济评价研究进展，总结了UCG项目经济竞争力的当前理解，通过案例介绍了煤炭地下气化–蒸气轮机联合循环发电–CO₂捕集与储存(UCG-CCGT-CCS)经济评价基本模型及主要认识，讨论了深化UCG项目经济评价研究的方向性启示。结果显示，国内外目前对UCG经济性的认识存在差异，普遍对浅部UCG项目商业竞争力持乐观态度，但对深部UCG经济性认识分歧较大；财务分析基本方法与技术经济参数、适应性数学工具的结合形成了UCG项目技术经济评价模型，国内外UCG技术经济研究各有特色；UCG项目经济性极大程度上取决于合成气利用路线及CO₂处理方式和成本，其中腔体宽度因子(HWR)、合成气成分、发电效率、CO₂处理对合成气发电总成本的影响最为强烈。分析认为，加强技术经济参数针对性研究是深化我国UCG经济评价的当务之急，系统剖析现有UCG现场试验案例经济性特点是破解目前认识差异困局的客观途径；深化煤炭地下气化–二氧化碳循环利用(UCG–CCU)过程及其工程行为，研究可为研发低成本CO₂处理技术提供依据；创新发展UCG工艺技术，将约束因素向效益型方向转变，则是提高UCG开采效益的根本途径。

Underground coal gasification (UCG) is driven by China's development strategy for a clean and efficient coal energy structure. Its industrialization prospect depends on the economic and social benefits of UCG projects. Against this background, this study reviews the research advances on the economic evaluation of UCG projects at home and abroad and summarizes the current insights into the economic competitiveness of UCG projects. Through case analysis, it presents a basic model for the economic evaluation of the UCG-combined-cycle gas turbine (CCGT) - carbon capture and storage (UCG-CCGT-CCS) system and the main understanding of the model. Furthermore, this study discusses the insights into the directions for deepening research on the economic evaluation of UCG projects. The results of this study are as follows: (1) There exist differences in the understanding of UCG economics at home and abroad. Generally, researchers are optimistic about the commercial competitiveness of shallow UCG projects but have divergent views on the economics of deep UCG projects. (2) The combination of the basic financial analysis methods with techno-economic parameters and adaptive mathematical tools forms a techno-economic evaluation model of UCG projects. Moreover, the techno-economic studies on UCG at home and abroad show unique characteristics. (3) The economics of UCG projects depends largely on the utilization way of syngas and the method and cost of CO₂ treatment. The total cost of power generation from syngas is influenced the most by factors such as the ratio of coal seam thickness to UCG cavity width (TWR), syngas composition, power generation efficiency, and CO₂ treatment. The following conclusions can be drawn through analysis: (1) To deepen the economic evaluation of China's UCG projects, there is an urgent need to strengthen targeted research on techno-economic parameters, and an objective approach to breaking the current dilemma of understanding differences is to systematically analyze the economics of existing UCG field test cases. (2) In-depth research on the UCG - carbon cycling utilization (CCU) process and its engineering behavior may provide a basis for R&D (research and development) of low-cost CO₂ treatment technologies. (3) The fundamental way to improve UCG efficiency is to innovatively develop UCG technologies and transform constraints into benefit-oriented ones.