Abstract

Goal: This paper aims to analyze the economic feasibility of the inclusion of solar energy boiler in the production process in a chemical industry.
 Design/Methodology/ Approach: The research method used was documentary analysis in organizational reports, interviews with suppliers and observation. For the feasibility analysis of the solar energy inclusion project, Payback, Internal Rate of Return (IRR) and Net Present Value (NPV) calculations were performed.
 Results: Results show that the adequacy of the production system from the use of solar energy contributes to the three areas of the Triple Bottom Line (TBL), that is, economical because its contributions to the organization's long-term cost reduction, social by ensuring greater safety to workers around the boiler and environmental by reducing the rate of greenhouse gases emissions from burning fossil fuels.
 Limitations of the investigation: The paper limitations are related to the fact that the study was made from data collected in a single organization from chemical industry sector to trace the feasibility of the project, this fact does not allow us to assume generalizations to other companies in the sector.
 Practical implications: The study shows the importance of adopting new production systems based on cleaner energies and what contributions can be achieved on sustainability by organizations, society and the environment.
 Originality/Value: By analyzing the feasibility of adapting a production system to a chemical industry, the study contributes to the field of research on environmental management and sustainability.

Highlights

  • The population rate growth was responsible for generating uncontrollable resource extraction from environment. It has not become crucial on a global perspective, the population began to increase, and the production had to be scaled by removing more materials from the environment, causing environmental degradation

  • To answer this research problem, the objective of the present work is to analyze the economic feasibility of a solar energy boiler implementation in the production process of a chemical industry

  • Overall, the study aims to analyze the economic feasibility of the inclusion of solar energy in the production process in a chemical industry

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Summary

Introduction

The population rate growth was responsible for generating uncontrollable resource extraction from environment. The pollution levels increased in a similar manner to environmental degradation due to production processes (Cherniwchan, 2012). Concerns about sustainable development have emerged from the major importance in response to impacts caused by human activity given the finitude of natural resources. This brings us to the idea of sustainable development as one in which meeting the needs of the present generation does not undermine the needs of future generations (Brundtland, 1987)

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