AbstractPhotons and electrons with energies above the ionization potential of most atoms can be used to facilitate chemical reactions not otherwise possible thermochemically or under more preferable process conditions. An analysis and comparison of the economics of using sources of ultraviolet photons, high‐energy electrons, γ‐rays, and X‐rays in a chemical conversion process is presented. In many processes where the penetration depth is sufficient, the overall production costs for equivalent products are lowest for electron‐beam based systems followed, in order, by ultraviolet, gamma rays from 60Co, and X‐ray sources. In process applications where large volume, high pressure, chemical reactors are required, gamma radiation has potential design advantages provided commercial gamma sources of lower cost than 60Co become available.