Abstract

Because of the widespread demand for a low-carbon society, the necessity of renewable energy is one of the most promising solutions for the future. In keeping pace with other environmental-friendly technologies, artificial photosynthesis is one of the latest technologies that produces chemical fuel and various energy sources without pollution. Because artificial photosynthesis uses carbon dioxide to produce chemical fuels, it has been evaluated as a promising core technology that may also provide a solution for climate change. In this study, artificial photosynthesis with a photoelectrochemical cell was designed and economic analysis on carbon monoxide and oxygen production was performed. In addition, a sensitivity evaluation was performed on the change in discount rate, benefit, and cost. The results showed that with a 10% efficiency rate and 5% discount rate on an artificial photosynthesis device, the artificial photosynthesis device generates 1.414 trillion Won of NPV. Therefore, the artificial photosynthesis device has high economic potential. As the efficiency of the device was changed to 10%, 13%, and 15%, the amount of carbon dioxide used for the reaction increased to as much as 24,309ton, 29,200ton and 36,500ton, respectively. This indicates that the artificial photosynthesis device also has a carbon dioxide reduction effect.

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