Economic Feasibility Analysis Research Articles

Serviceability analysis and feasibility study of ballasted rooftop PV system on existing concrete roof slab buildings

Solar Photovoltaic (PV) installation on existing structures became popular for the purpose of reducing carbon emission and improving energy efficiency of buildings. Ballasted PV systems which can impose an additional dead load are preferred by building owners as direct roof penetration method can pose a potential threat to the insulation, water proofing as well as the warranty of roof membranes. Ballasted PV systems have been questioned for structural capability, economic feasibility as well as sustainability stand points. This study focuses on determining an the optimal ballast number to resist uplift wind pressure. It additionally considers concrete roof slab serviceability with respect to long-term deflection, and provides a feasibility study of PV installation. Based on the results of the study, the ballasted PV system does not yield a significant influence on structural serviceability of building. The economic feasibility analysis considers the current level of incentives. Economically a ballasted PV system can be an attractive investment with approximate payback period of 7.6 years. Without incentives, the payback period is 24 years.

Pre-dimensioning and technical, economic and environmental feasibility analysis of sub-river outfalls in Macapá and Santana cities, Amapá State, Brazil

Pre-dimensioning and technical, economic and environmental feasibility analysis of sub-river outfalls in Macapá and Santana cities, Amapá State, Brazil

Prediction and Feed-In Tariffs of Municipal Solid Waste Generation in Beijing: Based on a GRA-BiLSTM Model

To cope with the increasing energy demand of people and solve the problem of a “Garbage Siege”, most cities have begun to adopt waste power generation (WTE). Compared to other WTE technologies, incineration has proven to be the most efficient technology for municipal solid waste (MSW) treatment. Therefore, to further explore the economic feasibility of MSW incineration plant construction, this study established a multi-factor prediction of MSW generation based on the GRA-BiLSTM model. By fully considering the relationship between the change in feed-in tariff (FIT) and the building of an incineration plant in Beijing, the economic feasibility of building an incineration plant is discussed based on the three scenarios set. The experimental results showed that (1) the combined model based on the GRA-BiLSTM showed good applicability for predicting MSW generation in Beijing, with MAE, MAPE, RMSE, and R2 values of 12.47, 5.97%, 18.5580, and 0.8950, respectively. (2) Based on the three scenarios set, the incineration power generation of Beijing MSW will show varying degrees of growth in 2022–2035. In order to meet future development, Beijing needs to build seven new incinerators, and the incineration rate should reach 100%. (3) According to setting different feed-in tariffs, based on the economic feasibility analysis, it is found that the feed-in tariff of MSW incineration for power generation in Beijing should be no less than $0.522/kWh. The government should encourage the construction of incineration plants and give policy support to enterprises that build incineration plants.

Peak shaving potential and its economic feasibility analysis of V2B mode

Electric vehicles (EVs) as mobile energy-storage devices improve the grid's ability to absorb renewable energy while reducing peak-to-valley load differences. With a focus on smoothing the load curve, this study investigates the peak shaving potential and its economic feasibility analysis of V2B mode. First, based on the virtual microgrid system established in this paper, a Monte Carlo method was used to simulate the driving, charging, and discharging processes of EVs. Second, the effects of the number of charging stations, battery capacity of EVs, and photovoltaic (PV) penetration rate on the peak shaving results were evaluated separately by using the standard deviation of daily loads. Third, the V2B peak shaving strategy and cost composition were explored considering the battery aging costs. Moreover, the economic feasibility and factors influencing the proposed strategy were analyzed. The results indicate that 1) V2B effectively transfers peak power loads between 08:00 h And 20:00 h To low-demand periods at night; 2) as the deployment ratio of charging station increases, the level of load fluctuation decreases significantly. When EV battery capacity is at or above 60 kW h, charging station deployment ratios of 0.43, 0.42, and 0.47 are required for saturated load smoothing in winter, transition period, and summer, respectively; 3) the PV penetration rate for maximizing the collaborative peak shaving capability of V2B and PV power is 30%–40 % and 4) reducing battery costs or extending battery life has the most significant effect on V2B power costs, followed by charging station costs. This study provides a theoretical basis for determining the economic feasibility of charging station planning and provides technical guidance for the rational scheduling of EVs and their friendly interaction with the power grid.

Conceptual design and economic feasibility analysis of an eco-friendly pavement cutter equipped with scattered dust reduction function

This study presents a sustainable and innovative approach to green construction through the development of automatic pavement cutters. By comparing the performance of wet-type cutters with the newly developed automatic cutters, this research focuses on reducing scattering dust and promoting environmental sustainability. Comprehensive tests conducted on a testbed reveal that the automatic pavement cutters outperform their wet-type counterparts, reducing cutting time by 27% for asphalt pavement and an impressive 34% for concrete pavement. The newly developed equipment demonstrated noise levels of 82–83 dB at 4 m, meeting the low-noise target of 85 dB. Compared to conventional road cutters, it significantly reduces 11.5% noise pollution during road-cutting activities. Cost analysis reveals the economic feasibility of implementing these innovative machines, enabling the construction industry to achieve higher efficiency and reduce environmental impact. Embracing this green construction method paves the way for a more sustainable future.

사회복지시설에 대한 지방세 감면의 정책 방향에 관한 연구

This paper is trying to examine the feasibility of local tax reduction for social welfare facilities from an economic perspective. In Korea, local tax reduction targets for social welfare facilities are divided into children's welfare facilities, youth welfare facilities, senior welfare facilities, the Korean Red Cross, and social welfare corporations. When local taxes are reduced in this way, the final demand for the facility increases and the income of the facility's workforce increases, resulting in an economic ripple effect. Based on this, the feasibility of the local tax reduction is analyzed.
 Although economic feasibility analysis is generally based on predictions of the size of local tax reductions, this study seeks to evaluate economic feasibility based on the added value generated by 1 won of local tax reduction. The added value induced by the increase in final demand due to this local tax reduction is less than 1 won. Additionally, this local tax reduction may increase labor costs, so if this is not reflected, economic feasibility will be underestimated. Accordingly, as a result of the analysis including the added value induced amount due to the increase in labor costs, the added value induced amount is greater than 1 won. Considering this, this system is evaluated as not valid in terms of economic feasibility. However, since social welfare facilities have the effect of promoting the welfare of the socially underprivileged, it is necessary to examine the validity of social welfare facilities based on equity.

An economic sustainability analysis of hybrid solar-biomass system for sugar industries in India

Renewable energy systems have been gaining more importance in developing countries not only due to the increase in concern towards environmental sustainability but also resolving the looming energy crisis that bewilders economic development. Till date, inadequate attention has been paid to the integration of Renewable Energy (RE) sources in the industrial sectors of TamilNadu, India. Since industries have been key drivers of electricity consumption in the past decade, this paper aims at the simulation and analysis of hybrid Biomass-Solar Photovoltaic system for electrification of the process industries, especially sugar industries. The main objective of the paper is to minimize the cost of energy and Green House Gas (GHG) emissions leading to sustainable development. The economic feasibility analysis is performed using Hybrid Optimization Model for Electric Renewables (HOMER) software and the sustainability analysis with the help of Clean Development Mechanism that can be adopted for the sugar industry. The simulation results support the effectiveness of the proposed grid connected solar-biomass hybrid system for the sugar industry with the net present cost of 16 million dollars (M$) combined with emission reductions of 6,266 tons/year.

Performance and economic analysis of a molten salt furnace thermal energy storage and peaking system coupled with thermal power units for iron and steel gas waste heat recovery

A new peaking system utilizing a molten salt furnace energy storage system coupled with a blast furnace gas thermal power unit in a steel mill is proposed, which stores excess blast furnace gas thermal energy in molten salt and releases the thermal energy for power generation during peak power demand. The heating efficiency of 74.57% is experimentally verified by building a molten salt furnace, and a 135 MW blast furnace gas thermal power unit is simulated using modeling to explore the energy storage and peak shifting performance and economic feasibility of the system. The results show that during the charging phase, the system can recover up to 9.361 t/h of standard coal, increasing the low valley regulation ratio to 20.31% with the increase of extraction rate. During the discharging phase, the system can provide an additional 17.42 MW of generating power, with a peak modulation ratio of 12.90%. The exergy losses from the combustion process dominates the overall system exergy losses with a maximum of 21.00 MW, followed by the exergy from the turbine, which occupies 18.42% of the input energy. The cycle efficiency of the system is up to 63.54%, and the molten salt temperature has a more significant impact on the system performance than the molten salt flow rate. The economic feasibility analysis yields a peaking capacity cost of $74.28/kWh for the modified system. The system will complete 100% recovery of the investment cost in 4.90 years, and thereafter, the annual profit is more than $3.71 Million. The peaking hours and regional electricity price are the main factors affecting the system. The effect of critical factors on the payback years of the system was further explored, and the payback years remains within 8 years only when the molten salt temperature is above 500 °C and the molten salt flow rate exceeds 400 t/h.

Economic feasibility of integrating solar energy into water utility operations in Ciudad Juárez, Mexico

We perform an economic feasibility analysis for installing grid-connected solar arrays with batteries to power ten water supply, distribution, and treatment stations in Ciudad Juárez in tandem with the existing local grid. This article covers detailed results from the four stations that represent the topographical and geographical variability of the city and the variable electricity demand across sites. Using data from the city’s water utility and calculations from the HOMER and RETScreen models, we find contrasting results. The HOMER model finds that solar arrays with or without batteries are economically viable while RETScreen reaches the opposite conclusion. One key reason for this is the two models’ differing predictions on the amount of electricity the proposed solar arrays would supply. Further, having reliable battery storage is paramount to overcoming grid outages and the intermittent availability of solar power to ensure the success of solar projects. Global scientific consensus recognizes the need for more renewable energy. With a sunny-climate and its status as a manufacturing hub on the US-Mexico border, Ciudad Juárez has the potential to lead the way forward in promoting solar energy. The comparative results of the HOMER and RETScreen models provide a more complete understanding of the feasibility of solar power for Ciudad Juárez’s water infrastructure as well as vital insight into the factors that shape the success of solar projects.

STUDY OF THE EVALUATION OF 10 KWP ON- GRID SOLAR POWER SYSTEM AT PLTD SIANTAN

The use of fossil fuels as an energy source remains a primary priority today. However, renewable energy is a potential alternative to support the availability of fossil fuels. Renewable energy is derived from natural sources and has sustainable characteristics, such as solar, wind, and hydro power. Solar Power Plants are one of the electrical energy sources that utilize the sun as their primary source. Indonesia, located on the equator, has abundant solar energy with an average solar radiation intensity of around 4.8 kWh/m^2 per day throughout the country, especially in Pontianak, which is situated on the equator. This research focuses on the evaluation study of an On-Grid Solar Power System located at PLTD Siantan. The objective of this study is to determine the amount of energy generated and conduct economic analysis and feasibility analysis of the On-Grid Solar Power System using three methods: Net Present Value (NPV), Profitability Index (PI), and Payback Period (PP). The data collection and calculations revealed that the average energy produced by the Solar Power System at PLTD Siantan is 29.14 kWp. There are a total of 20 installed solar panels, each with a power of 560W, and one inverter with a capacity of 10 kW. The investment cost for the Solar Power System is IDR. 180,868,506.00. The economic feasibility analysis of the Solar Power System using the three methods resulted in an NPV of IDR. 213,645,234.00, a PI value of 2.18, and a PP value of 14 years

Evaluating urban mini plant factories: engineering and software cost perspectives for agriculture sustainability

Precision agriculture serves as a crucial solution to address the challenges of food security and agriculture sustainability. It provides significant benefits and enables effective monitoring of agriculture throughout the entire supply chain using a technology-driven approach that prioritizes internet connectivity and leverages big data. A noteworthy application of precision agriculture is the Mini Plant Factory, where plants are cultivated in closed systems with artificial lighting. The development of the Mini Plant Factory requires an economic feasibility analysis as a determinant of technology viability before widespread implementation, aiming to promote agriculture sustainability. The Software Cost Estimation Model (SCEM) assesses software development’s cost and time requirements. Engineering economics evaluates economic feasibility using metrics like NPV, BCR, IRR, PBP, and BEP methods. Function Point Analysis for UMPF software development estimates a cost of Rp 33,052,414, equivalent to 1,311 man-hours. Investment feasibility analysis considers the utilization of UMPF as viable, with an NPV of IDR 46,938,615, BCR of 1.08, IRR of 28%, and projected profitability within four years. Precision agriculture strategically addresses complex agricultural challenges, fostering sustainability with innovations such as the UMPF. The SCEM and engineering economics confirm the feasibility and rationale for implementing UMPF technology, providing essential insights for sustainable agricultural practices.

LPG, Gasoline, and Diesel Engines for Small Marine Vessels: A Comparative Analysis of Eco-Friendliness and Economic Feasibility

As an escalating global concern for environmentally sustainable marine fuels, liquefied petroleum gas (LPG) is attracting attention as an eco-friendly and economical alternative. This study explored LPG utilization in small marine vessels, focusing on its eco-friendliness and economic feasibility. To assess its environmental implications, the AVL FIRE simulation program was used to compare CO2, CO, NO, and soot emissions from LPG engines with those from conventional gasoline and diesel engines. The LPG engine model relied on data from a pioneering type-approved experimental LPG engine designed for small South Korean marine vessels, while parameters for gasoline and diesel engines were adjusted to suit their distinctive features. Regarding long-term economic feasibility, assuming a 30-year ship lifespan, incorporating 2022 annual average prices, average annual price growth rates, and annual fuel consumption data of each fuel, results indicate that LPG engines exhibited lower CO2, CO, NO, and soot emissions than conventional engines, except that NO emissions were higher than gasoline engines. Evaluating LPG’s economic feasibility over a 30-year ship life cycle for an individual vessel revealed varying fuel cost savings, with the greatest savings observed in gasoline–other (KRW 2220.7 million) and the least in gasoline–coastal (KRW 1152.5 million). These findings offer vital insights for ship operators and policymakers seeking a balance between eco-friendliness and cost-effectiveness, as well as LPG engine technology emerging as pivotal for a sustainable future, harmonizing environmental protection and economic viability.

Economic Feasibility Study of the Production of Biogas, Coke and Biofuels from the Organic Fraction of Municipal Waste Using Pyrolysis

The objective of this study is to analyze the economic viability of municipal household solid waste (organic matter + paper) for the production of gas, coke and biofuel through the pyrolysis and distillation process. The waste was collected in the city of Belém do Pará-Brazil and pretreated at the Federal University of Pará. The analyzed fraction (organic matter + paper) was subjected to the pretreatment of drying, crushing, and sieving and was subsequently subjected to proximate characterization and, finally, pyrolysis of the organic fraction (organic matter + paper) in a fixed bed reactor. Initially, it was necessary to review the literature, and with the yields obtained by pyrolysis of the fraction, economic feasibility analyses were carried out. The economic indicators for evaluating the most viable pyrolysis process were basic payback, discounted payback, net present value, internal rate of return, and profitability index, which are all financial metrics commonly used in investment analysis and decision making. These metrics provide valuable insights into the financial viability and attractiveness of investment projects. They are essential tools for assessing the feasibility and profitability of various ventures, helping decision-makers make informed choices in allocating resources. The analysis of the indicators showed the economic viability considering an analysis horizon of 10 years of materials based on organic material and paper. The breakeven point obtained was USD 0.96/dm3 and the minimum biofuel sales price found in this project was USD 1.30/dm3. The sensitivity research found that material costs (organic matter + paper), bio-oil yield, total project investment and electricity, respectively, are the variables that most affect the minimum biofuel sales price.

Estimates of Renewable Energy Recovery from Biogas in Residential Buildings: Economic Feasibility Analysis

Increasing of energy demand and climate change have hampered sustainable development. This article aimed to study the potential of biogas recovery for energy generation from compact wastewater treatment plants in buildings. Three buildings were selected and an economic feasibility analysis was carried out. The net present value (NPV) was positive and the economic internal rate of return (EIRR) was higher than the minimum attractive rate in five of six cases, showing that energy savings were sufficient to cover implementation, operation, and maintenance costs, with two to four years of payback time for biogas structures. The anaerobic reactor was responsible for the main expenditure, which indicates the importance of developing low-cost and compact units for decentralized wastewater treatment. Finally, the results indicate that biogas may be a promising and viable energy source in residential buildings.

Evaluating the Onshore Wind Farms based on Multi-Criteria Decision-Making Model under Neutrosophic Set

This work comprehensively evaluates onshore wind farms, focusing on their technological efficiency, environmental impact, economic viability, and societal implications. Onshore wind energy has emerged as a prominent renewable energy source, leveraging the kinetic power of wind to generate electricity on a substantial scale. The evaluation encompasses a detailed analysis of wind resource assessment, turbine technology, grid integration, environmental considerations, economic feasibility, and stakeholder engagement. Findings reveal that onshore wind farms exhibit commendable technological advancements, with modern turbines showcasing higher efficiency and capacity. Environmental assessments highlight their lower carbon footprint compared to conventional energy sources, albeit with considerations for land use and wildlife impacts. Economic evaluations emphasize the decreasing costs of wind energy, yet challenges persist concerning upfront investment and intermittency. Stakeholder engagement emerges as a crucial aspect, stressing the importance of community acceptance and regulatory compliance. The assessment illuminates the multifaceted aspects of onshore wind farms, underscoring their potential as a sustainable energy source while acknowledging the need to address technological, economic, and social barriers to widespread adoption. We used the multi-criteria decision-making (MCDM) model for evaluating the onshore wind farms. The Measuring Attractiveness by a Categorical Based Evaluation Technique (MACBETH) method is used to rank the alternatives. The MCDM method used under single valued neutrosophic set (SVNS). The SVNS is used to overcoming the uncertainty in the evaluation process.

Sustainable Infrastructure Development in The IKN Region (Nusantara Capital): Simulation of The Smart Self-Sustaining Urban Center Area Development

Embarking on the quest for a sustainable urban future, this research immerses itself in the vibrant landscape of "Sustainable Infrastructure Development in the IKN Region (Nusantara Capital)." This study investigates the financial viability and economic attractiveness of the Five City project, focusing on efficient infrastructure management for sustainable settlement development. The core facility comprises four vertical residential towers with supporting amenities. The research aims to evaluate the project''s feasibility over a 25-year investment period through comprehensive financial analyses.The research employs a structured approach, encompassing regulatory analysis, stakeholder identification, financial capability analysis, and risk management. Parameters such as Net Present Value (NPV), Benefit/Cost Ratio (BCR), Internal Rate of Return (IRR), and Payback Period are used for economic feasibility analysis. The study employs a detailed Risk Breakdown Structure (RBS) and Risk Register for risk management. The results collectively highlight the project''s promising economic outlook and proactive risk management approach.In conclusion, the study underscores the feasibility of the Five City project as a sound venture in project financing. The findings contribute valuable insights into infrastructure development, project finance, and risk management, providing a blueprint for sustainable housing projects in the Nusantara Capital Region. Recommendations include continuous monitoring, transparent communication, and adaptability for long-term success.

KAJIAN EKONOMI PEMANFAATAN PLTS ATAP DI GEDUNG RUMAH JABATAN GUBERNUR PROVINSI BALI

To meet the high demand for electrical energy, an alternative solution that can be applied is the use of New and Renewable EnergyIndonesia targets to achieve Net Zero Emissions (NZE) by 2060. Planning for a rooftop PLTS at the Office of the Governor of the Province of Bali is expected to be able to assist in the expansion of PLTS in the Province of Bali in terms of strengthening Governor Regulations/Regional Regulations that support the use of Solar Power Plants. The design of the rooftop PLTS at the Bali Province Governor's Office Building was carried out using 4 scenarios. Scenario 1 is a design that utilizes the roof area facing the north side. Scenario 2 is by utilizing the roof area only to meet the peak load of the building. Scenario 3 is a design that utilizes the entire roof area of the building that best meets the criteria. Meanwhile, scenario 4 is scenario 2 but uses a microinverter device. The Scenario 2 PLTS design is studied economically because the return on investment is the fastest compared to the other scenario PLTS designs. Based on the economic feasibility analysis of the investment, scenario 2 design has a Net Present Value (NPV) of Rp. 158,771,001, Profitability Index (PI) of 1.32 and a Discounted Payback Period (DPP) of 10.7 years.

Experimental and Numerical Study of Novel Vortex Bladeless Wind Turbine with an Economic Feasibility Analysis and Investigation of Environmental Benefits

This study combines experimental and numerical evaluations of Vortex Bladeless Wind Turbines (VBWTs) to understand their potential in renewable energy generation. The methodology employs Two-Way Fluid–Solid Interface (FSI) simulations, alongside real-world data, providing important insights into the turbine’s vibration dynamics and flow interactions during operation. Key findings include identifying optimal vibration frequencies and amplitudes that enhance energy harvesting and a clear advantage in power-generation estimations shown by one of the models used. The study reveals possible applications of VBWT in various settings like airport runways, highways, and buildings, indicating a promising avenue for incorporating such renewable-energy solutions. Discussions on the economic feasibility and environmental benefits of VBWT deployment are also presented, suggesting a need for further research and optimization in this area. A conceptual generator design and business model are introduced as part of a broader discussion on technology integration and energy storage. The research in this study encompasses experimental and numerical analysis, to achieve a broader understanding of the workings of a VBWT, realizing the feasibility of using such systems in lower-wind-speed conditions and upscaling to higher-wind-speed cases.

Economic valuation of the proper management of municipal solid waste in an educational space

The correct management of Municipal Solid Waste (MSW) in any population center is essential to guarantee the quality of life of its inhabitants and the surrounding environment. The study carried out involved the quantification of MSW generated in specific areas of the Juan Pablo II campus of the University of Guanajuato, with the use of two complete recycling stations with primary and secondary labeling, graphically specifying a subclassification with infographic type posters. For 5 weeks we separated and sold the most commercially valuable solids in Celaya, delivering the proceeds to the corresponding university agency, and the lids of the different food containers were donated to an association that supports children with cancer. With the amount obtained, an economic feasibility analysis was carried out using the financial evaluation criteria Net Present Value (NPV) and Internal Rate of Return (IRR) to know the feasibility in monetary terms; to complement this, the equilibrium point (Q) and the sensitivity analysis were used; trying to exploit the maximum recycling capacity and move to the circular economy.

Agricultural Research and Development Center Design with Building Integrated Photovoltaics in Fiji

Building-integrated photovoltaics (BIPVs) entail the use of photovoltaics as building materials, such as windows, roofs, and walls. Owing to their electricity-generation ability, BIPVs have become popular building materials for green buildings. This study involves an economic feasibility analysis of BIPVs for an agricultural research and development center in Fiji. The computerized relative allocation of facilities technique (CRAFT) is extended for cost-efficient facility design, and the levelized cost of electricity (LCOE) of BIPVs is evaluated to identify feasible alternatives from among three options, namely roof-integrated, window, and rooftop BIPVs. From the experiments, the LCOE values of the roof-integrated, window, and rooftop BIPVs were USD 0.13/kWh, 0.17/kWh, and 0.09/kWh, respectively. Moreover, the profit for the window BIPV was negative when the discount rate was greater than 0.08 due to its inefficient productivity. Contrarily, the roof-integrated BIPV showed a reasonable LCOE even though it required the highest investment cost. Nevertheless, further efforts are needed to reduce the cost of BIPVs for practical implementation.