Modeling and assessment of the techno-economic analysis of biogas and its potential for the generation of electricity from water hyacinth biomass

Abstract

The study presents the economic feasibility assessment of converting the produced biogas from water hyacinth biomass into electricity. Approximately, 0.3793 m3CH4/kgVS was generated from the water hyacinth biomass. The research indicated that the available water hyacinth population on the Lower Volta River in the year 2020 could potentially generate a methane yield of 53.676 × 106m3. The volume of methane gas generated had the potential to produce an annual electricity output of 110.792 × 106 kWh, which could be integrated into the national grid. The economic analysis indicated positive results with an initial total investment cost of $67,273,700. The project showed a positive net present value (NPV) of $8,923,769 and a levelized cost of 0.172 $/kWh. The simple payback and equity payback periods were determined to be 5.5 and 11.3 years, respectively. Furthermore, a sensitivity analysis conducted showed that the project’s NPV remained positive when variations in input parameters such as initial cost, operations, and maintenance cost were less than 15% sensitive range. However, a 30% reduction in the feed-in tariff cost resulted in a negative NPV. In conclusion, biogas production from water hyacinth biomass in Ghana can make a significant contribution to the country’s energy mix and help alleviate the energy shortfall in rural areas.