Assessment Of Economic Viability Research Articles

Economic Viability Assessment of Bioenergy Production from Agroindustrial Wastes through Fast Pyrolysis

Spanish mainland crops, including olives, almonds, and pistachios, play a pivotal role in capital circulation and employment generation. This comprehensive study explores the economic feasibility on the utilization of diverse agro-industrial wastes from Spanish harvests as a promising feedstock for bioenergy production through fast pyrolysis. The fast pyrolysis process is simulated using Aspen Plus® software, employing techno-economic parameters such as Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period (PBP), break-even, and minimum product sales price to analyze economic viability of the project. Two different scenarios, based on experimental data from previous studies, are compared. The profitability of this proposal is closely linked to the harvest, which serves as a limiting factor. In all scenarios, the project requires two years to recover the initial investment, demonstrating significant profits once production begins. When considering the impact of scaling up, the NPV of Scenario 2 for PS reached €369.55 M€. Sensitivity analysis reveals that the profitability of pyrolysis depends on the bio-oil selling price and the total production volume. Overall, this study confirms the economic viability of producing bioenergy through fast pyrolysis using various biomass residues. It highlights the potential of harnessing bioenergy from Spanish agro-industrial waste, paving the way for sustainable and economically viable solutions, as indicated by the NPV and IRR metrics.

Carbon footprint and economic viability assessment of recycling sewage sludge in sintered brick manufacturing route

Carbon footprint and economic viability assessment of recycling sewage sludge in sintered brick manufacturing route

Performance and economic viability assessment of a novel CO2 adsorbent for manufacturing and integration with coal power plants

This study assesses the performance and economic feasibility of a novel CO2 adsorbent for post-combustion capture in DOE/NETL’s 650 MWnet SubC PC power plant (case B11B). Bench-scale tests showed an initial adsorption capacity of 16.3 wt%, which decreased to 12.1 wt% after 41 adsorption–desorption cycles due to induced particle aggregation by over-humidification. With a conservative adsorption capacity of 8.8 wt% and 695 adsorption–desorption cycles, an adsorbent replenishment rate of 10 tonnes/h is necessary to capture 90% of CO2. The breakeven sale price of the adsorbent produced at this rate is $1,293/tonne, which is 40 to 80 times lower than prices for K2CO3 adsorbents reported in the literature (e.g., K2CO3/TiO2, K2CO3/ZrO2) while providing better capture performances. Sensitivity analysis reveals that increasing the plant production rate from 10 to 40 tonnes/h reduces the sale price by 8%. The study also compares the CO2 capture cost to Cansolv, an integrated solvent-based technology. The novel adsorbent requires 2.4 GJ/tonne of CO2 for regeneration, lower than Cansolv’s 2.7 GJ/tonne. With conservative performance estimates, the capture cost is $54/tonne of CO2, slightly higher than Cansolv’s $45/tonne. To achieve lower or comparable capture costs to Cansolv, the adsorbent should meet one of the following conditions at a commercial scale: minimum 950 cycles, 16 wt% capture capacity, 50% of the adsorbent recovery, or a reduced cost to $646/tonne by upscaling the manufactury to 75 tonnes/h.

Assessment of wind power potential and economic viability at Al-Hodeidah in Yemen: Supplying local communities with electricity using wind energy

Wind energy is a promising sector in the power generation industry because it is renewable and globally available. This study assessed the wind power potential and the economic viability of utilizing wind turbines at the chosen location to produce electricity. This work uses wind speed data collected during (2012–2014) at 10 m height. This research presents the maximum and mean values of measured wind speeds. We have analyzed annual, seasonal, and monthly variations of wind speed. The wind characteristics and wind power potential of the study site have been investigated using Weibull and Rayleigh distribution functions. The annual mean wind speed and Weibull parameters (shape and scale) have been determined to be 4.477 m/s, 2.494, and 5.046 m/s, respectively, according to the actual data collected over the three years. The annual mean power density and energy density have been computed to be 86.39 W/m2 and 757.226 kWh/m2 according to the actual data collected over the three years, and the predicted annual mean power density and energy density have been computed to be 86.492 W/m2 and 758.358 kWh/m2 using Weibull parameters and 164.372 W/m2 and 1441.2 kWh/m2 using Rayleigh distribution, respectively. Accordingly, the power density computed using the Weibull parameters was similar to the power density computed using real wind data, whereas the power density calculated by the Rayleigh function was higher. An economic analysis has been done to choose a suitable turbine for the study site. The results indicate that the wind turbine ZEFIR D14-Px-Ty is indeed a viable option for wind power generation in Al-Hodeidah. It has a relatively low cost of energy of $0.03/kWh and a high capacity factor of 0.428, indicating its efficiency in converting wind energy into electricity. Therefore, the selected location is recommended for some small stand-alone systems as well as small wind farms.

Assessment of Economic Viability of Direct Current Fast Charging Infrastructure Investments for Electric Vehicles in the United States

As the global transportation sector increasingly adopts electric vehicles, the demand for advanced and accessible charging infrastructure is rising. In addition to at-home electric vehicle (EV) charging, there is a growing need for the swift development of commercial direct current fast charging (DCFC) stations to meet on-the-go EV charging demands. While government funds are available to support the expansion of the EV charging network in the United States, the establishment of a robust nationwide EV charging infrastructure requires significant private sector investment. This study was conducted to assess the economic feasibility of various business models for fast charging stations in the U.S. using two case studies and exploring different operational strategies including sole ownership and collaborative ventures with public and private entities. The results indicate that based on the current adoption and utilization rates in the U.S., the business model involving an owner-operator collaborating with a public partner ensures profitability and protects the investment in DCFC stations from financial losses. The study also highlights that demand charges and electricity retail prices are the factors that affect the profitability of a DCFC station.

Assessment of Economic Viability of Conversion of Open Cycle to Combined Cycle Gas Power Plant

The paper identified the types of gas turbines available in the electric power generating system in Nigeria and assessed the economic viability of converting open cycle to combined cycle gas power plants in order to maximize the electricity generation output without further gaseous fuel consumption in the existing thermal plants in the country. Data were obtained through primary and secondary sources on all the operational power plants in Nigeria. These data were analyzed using engineering economy methods. The result showed that by using the average generation of each plant for a period of 3 years as a baseline for conversion, an additional 1142.1 MW would be obtained after conversion to combined cycle without increase in gas consumption. In addition, the result showed the NPV values and benefit-cost ratio were greater than zero and one respectively, indicating that the project is economically viable for each conversion process. The sensitivity analysis over a range of values from ±10 to ±30% of the investment cost did not affect the economic viability of the project. Furthermore, the result showed that the cost of generating electricity borne by the society is much lower for a combined cycle than for an open cycle. The study concluded that conversion of the gas turbine from open cycle to combined cycle is economically viable and an additional generation of 1142.1 MW can be obtained without increasing the gas consumption.

Assessment of Water Productivity and Economic Viability of Greenhouse-Grown Tomatoes under Soilless and Soil-Based Cultivations

Water scarcity has necessitated the adoption of water-saving techniques in both protected and non-protected farming. This study aimed to evaluate the performance of a water-saving soilless cultivation technique and compare it to conventional soil-based cultivation in protected farming. The soilless technique utilized local gravel and a mixture of peat moss, humin-substrate, and perlite in a 4:3:1.5 ratio. During the tomato growth cycle, three irrigation regimes were imposed using drip irrigation: 8 Lh−1 design discharge (D1) emitters, 6 Lh−1 design discharge (D0.75) emitters, and 4 Lh−1 design discharge (D0.5) emitters for both cultivation methods. Vegetative growth, fruit yield, and water consumption were measured and water productivity was determined. Additionally, an economic assessment was conducted by estimating and comparing economic coefficients for both cultivation methods. Estimated coefficients included revenues, net profit, benefit–cost ratio, breakeven levels of production and prices, revenues over variable cost, and revenues on investment. The tomato fruit yield under soil-based cultivation surpassed the yield under soilless cultivation. Water productivity under soilless cultivation was nearly double (24.3 kg m−3) that of soil-based cultivation (15.5 kg m−3). Soilless cultivation saved 50% of the irrigation water applied by the conventional soil-based method, conserving energy and protecting the soil from deterioration. Revenues and net profits, driven by higher yield and lower variable costs, favored soil-based cultivation. The economic assessment demonstrated that both cultivation methods were economically viable. However, the soil-based cultivation method was more profitable due to its higher fruit yield. Overall, the results of this study suggest that the soilless cultivation technique is a feasible option for water-saving cultivation. However, the soil-based cultivation method remains more profitable due to its superior fruit yield. The soilless cultivation technique offers significant water savings but needs further improvements to achieve comparable economic returns to traditional farming.

Assessment of the Performance of Drip-Irrigated Green Pepper (Capsicum annum L.) under Poly-House and Open-Field Conditions

Sweet pepper (Capsicum annum L.) is one of an important group of vegetables grown extensively, widely cultivated and used as foods in almost every country of the world. It is a high productivity crop, it has high remunerative and nutritive values. Sweet pepper consumption in Nigeria is growing recently because of increasing demand by rural and urban consumers as a result of rapid population growth and water scarcity calls for an alternative means of production system for sustenance of the human race. The experiment was carried out during the dry seasons of 2020.2021 and 2021/2022 at the Teaching and Research Field of Federal Polytechnic, Ado-Ekiti, Nigeria. The beds were prepared, nursery was raised, drip irrigation system was installed and fumigation was carried out before transplanting. The experimental design was a randomized complete block (RCBD) with nine replications in each environment. The same design was applied to both poly-house and open-field conditions. The factors are environment (poly-house and open-field) and irrigation intervals of 5, 6 and 7 days (I5, I6 and I7). Data obtained were subjected to analysis of variance and Tukey’s Honestly Significant Difference (HSD) was used for multiple comparison. Drip irrigation was applied to all plots at different irrigation intervals. Number of leaves (NL), plant height (PH), stem girth (SG) and weight of fresh fruit (WFF) were recorded. The respective results of performance of green pepper at different irrigation treatments under poly-house and open-field in the 2020/2021 and 2021/2022 growing seasons were: NL-I5: 180, I6: 185, I7: 171 and I5: 120, I6: 139, I7: 122 in 2020/2021 growing season while I5: 157, I6: 173, I7: 160 and I5: 108.3, I6: 118.3, I7: 118 during 2021/2022 growing season. PH-I5: 128.7, I6: 139.3, I7: 125.3 and I5: 108.3, I6: 118.3, I7: 104.7 cm in 2020/2021 growing season while I5: 117.7, I6: 129.7, I7: 120 and I5: 102, I6: 115, I7: 99.3 cm during 2021/2022 growing season. SG-I5: 30, I6: 29.7, I7: 29.6 and I5: 25.1, I6: 26, I7: 25 mm in 2020/2021 growing season while I5: 20.3, I6: 23.3, I7: 21.3 and I5: 18.5, I6: 20, I7: 17.9 mm during 2021/2022 growing season. WFF-I5: 20.3, I6: 29.2, I7: 19.8 and I5: 13.3.1, I6: 21, I7: 14.2 kg/m2 in 2020/2021 growing season while I5: 14.6, I6: 23.5, I7: 14.7 and I5: 9.5, I6: 17.8, I7: 8.8 kg/m2 during 2021/2022 growing season. The controlled conditions provided by the poly-house resulted in best overall performance compared to the open field environment. It is recommended that the assessment of long-term sustainability and economic viability of poly-house cultivation for green pepper production be conducted.

Economic Viability Assessment of Small-Scale Biomass Composting Project Within a Developing Country Context

Economic Viability Assessment of Small-Scale Biomass Composting Project Within a Developing Country Context

Techno-economic review of pyrolysis and gasification plants for thermochemical recovery of plastic waste and economic viability assessment of small-scale implementation

Techno-economic review of pyrolysis and gasification plants for thermochemical recovery of plastic waste and economic viability assessment of small-scale implementation

Economic Viability Assessment of Neighbourhood versus Residential Batteries: Insights from an Australian Case Study

Amidst the evolving paradigms of the contemporary energy landscape, marked by the imperative of sustainability and efficiency, the integration of energy storage has emerged as a transformative strategy that seeks to recalibrate the dynamics of electricity distribution and consumption. However, there remains a pressing need to determine the most economically viable approach for deploying energy storage solutions in residential low-voltage (LV) feeders, especially in rural areas. In this context, this paper presents the results of an economic evaluation of energy storage solutions for a residential LV feeder in a rural town in Australia. Specifically, the study compares the financial viability of a front-of-the-meter (FTM) battery installed on the feeder with that of a fleet of behind-the-meter (BTM) batteries. The FTM battery, with a size of 100 kW/200 kWh, is assumed to be operated by the retailer but owned by the community, with any profits assigned to the community. In this scenario, we studied a battery operating under standard network tariffs and three different trial tariffs that distribution network service providers currently offer in Australia. On the other hand, the fleet of BTM batteries (3 kW, 3.3 kWh) are individually owned by households with solar installations, and their cumulative capacity matches that of the FTM battery. The comparison is based on key economic parameters, including network charges, retail margins, frequency control ancillary service (FCAS) revenues, wholesale energy costs, technology costs associated with community batteries, and net profit or loss for the community, as well as considerations of utility grid arbitrage and solar photovoltaic (PV) self-consumption. The study also assumes different grant levels to assess the impact of subsidies on the economic feasibility for both battery configurations. The findings indicate that, while both require some form of subsidy for profitability, the BTM batteries outperform the FTM battery in terms of economic viability and so would require lower grant support. The FTM battery case finds a need for grants ranging from 75% to 95% to break even, while the BTM fleet requires approximately 50% in grants to achieve a similar outcome. In conclusion, this study highlights the importance of grant support in making energy storage solutions economically feasible. In particular, it highlights how the less mature segment of FTM batteries will need higher support initially if it is to compete with BTM. The outcomes of this study inform decision-making processes for implementing energy storage solutions in similar communities, fostering sustainable and cost-effective energy systems.

Performance analysis and sustainability assessment of a building integrated solar PV system

The two key pillars of sustainability are the environment and the economy. This study examines the economic viability, environmental impact, and energy assessment of solar photovoltaic (PV) for the climate of Gwalior, India. This PV system study is based on the system's 30-year lifespan and annual performance. This study aims to calculate the reduction in CO2 emissions caused by the production of electrical energy, embodied energy and energy payback time (EPBT) are also examined. The solar PV system has a payback period of about 5.10 years for the climatic condition of Gwalior Madhya Pradesh, which is extremely low compared to its life. The above study is done for the faculty rooms of Madhav Institute of Technology and Science (MITS), Gwalior, India during working hours from 10:00 am to 6:00 pm (8 hrs). The illumination in the faculty rooms is also calculated at different locations and found better on the table of faculty members. The PV system will reduce 89.095 tons of CO2 throughout its lifespan, demonstrating its viability from a sustainable perspective. This study aims to delve into the ‘Sustainable Development of Buildings’ by incorporating various solar-powered technologies to transform a structure into an environmentally sustainable.

Comparative Analysis of an Expandable Modular Plant and a Stick-Built TiO2 Plant.

Expandable modular plants (EMPs) can be the future of the chemical industry, especially in emerging markets. Using the relative position of points on alternative NPV-time curves from the period of 10-20 years, we compare the economics of an expandable modular TiO2 plant with that of a large-scale TiO2 plant constructed fully on site (stick-built) and present scenarios where the expandable modular approach is economically favorable over the stick-built approach. To simplify the assessment of economic viability between constructing an EMP and a stick-built plant, we introduce a measure known as the flexibility feasibility ratio-a certain ratio of unit installed capacity in an EMP to the nameplate capacity of a stick-built plant at which the NPVs are equal at all points on alternative NPV-time curves. We determine that a flexibility feasibility ratio of 0.25 is suitable to install an expandable modular TiO2 plant in Nigeria, relatively.

Determining overwintering performance and economic viability of monosex tilapia fingerling production in hapa cum cage aquaculture system for Bangladesh's haor fishers

Ensuring a consistent supply of uniformly sized fingerlings for tilapia cage aquaculture in Bangladesh's poses a significant challenge. This study assessed overwintering growth performance and economic viability of monosex tilapia fingerling production in haor waters. Nine hapas, each inside a designated treatment cage, were stocked with T1 (200), T2 (250) and T3 (300) tilapia fry, averaging 1.25±0.25 g, per m³ for 90 days. The most successful treatment continued for two subsequent crops over two years for economic viability assessment. Average final body weight gain was the highest at the lowest stocking density (T1, 58.86±7.23 g), but the most desirable biomass gain (222 kg cage⁻¹) occurred at medium stocking density (T2). Beyond biomass gain, T2 exhibited superior profitability, with 26% and 30% profitability in the second and third crops respectively, over total costs. In conclusion, overwintering tilapia fingerling production in the hapa-cum-cage system at a stocking density of 250 m⁻³ proved more profitable and sustainable than other treatments, offering a viable income-generating option for resource-poor haor fishers.

A sustainable circular supply chain network design model for electric vehicle battery production using internet of things and big data

AbstractDesigning and developing sustainable circular supply chain networks for electric vehicle (EV) lithium‐ion battery recycling and production requires complex environmental sustainability and economic viability assessment. EVs use a lot of data for battery management and delivering optimum performance, and the Internet of Things (IoT) plays a major role in managing this data. This study develops a bi‐objective mixed‐integer linear programming model for designing a sustainable circular supply chain to manage the manufacturing, remanufacturing, and distribution of EV lithium‐ion batteries under uncertainty using the IoT and big data. The proposed model simultaneously minimizes total costs and CO2 emissions and uses IoT to improve network performance and create a traceable and secure environment. A fuzzy multi‐objective method solves the bi‐objective optimization model under uncertainty, and a simulation algorithm examines the effectiveness of the proposed model through simulated problems.

Techno-economic assessment of power generation potential from floating solar photovoltaic systems in Bangladesh

Floating Solar Photovoltaic (FPV) plants, also known as floatovoltaic plants are showing great potential in the renewable energy sector all around the world. They can contribute to the national grid and provide support to the existing hydropower plants. Moreover, they positively impact the environment by reducing evaporation and improving aquatic lives simultaneously. Despite a decade of research, there has been no study on the technical potential of FPV plants on a riverine country like Bangladesh. In Bangladesh, there are several water infrastructures to accommodate FPV plants. In addition, a considerable amount of solar irradiation is available throughout the year because of the country's geographical location, making FPVs a significantly viable option for generating electricity. To this end, this study provides the first technical potential and economic feasibility assessment of some of the important water bodies of Bangladesh. The technical potential study is performed with the help of solar PVGIS and focuses on the contribution these plants can make to the national grid. The economic viability assessment simulations are done in System Advisory Model (SAM). Moreover, a thorough comparison between FPVs and inland solar plants is also conducted. The results show that after the installation, even with a conservative approach, FPV plants will be able to meet 1.1% of the demand of the capital Dhaka, the city with one of the highest population densities. In addition, FPV installation at Kaptai lake, which already has an existing hydropower plant, can meet up to 7% of the demand of the port city Chattogram. Moreover, economic parameters NPV, IRR and LCOE all indicate the projects are profitable and can be deployed in large-scale. This study will open doors to further research into the FPV potential of Bangladesh and help implement FPVs to meet the renewable energy goals of the country.

Assessment of economic viability and production costs for the innovative microfiltered digestate

This paper assesses the economic viability of the production process of an innovative form of digestate known as “microfiltered digestate”, suitable for use as a fertilizer in driplines for permanent crops. A Break-Even Analysis was performed to determine the Break-Even Point which identifies the minimum quantity of products necessary to cover production costs at a certain selling price. Our results show that the production of microfiltered digestate provides positive economic viability for anaerobic digestion managers, providing them with an attractive market outlet and, at the same time, a new form of income.The experimental study was stated in Sicily, but it is replicable in any territorial context with anaerobic digestion plants. The results are in line with the principles of circular economy and are very current with reference to the use of organic fertilizers instead of chemical ones.

Machine Learning Brings Vast Core-Analysis Legacy Data to Life

_ This article, written by JPT Technology Editor Chris Carpenter, contains highlights of paper OTC 31419, “Bringing Huge Core-Analysis Legacy Data to Life Using Machine Learning,” by Siti N.F. Zulkipli, SPE, Benard Ralphie, and Jamari M. Shah, SPE, Petronas, et al. The paper has not been peer reviewed. Copyright 2022 Offshore Technology Conference. Reproduced by permission. _ Among the sources of subsurface data, rock and fluid analyses stand out as the best means of directly measuring subsurface properties. The implication of modeling this data into an organized data store means better assessment of economic viability and producibility in frontier basins and the capability to identify bypassed pay in old wells that may not have rock material. The complete paper presents agile technologies that integrate data management, data-quality assessment, and predictive machine learning (ML) to maximize company asset value with legacy core data. Introduction The complete paper integrates data gathering, data filtering, the connecting of scattered data, and the building of useful knowledge models using legacy core data from various operating assets. This integration is achieved by a data quality check (QC) work flow and ML to improve the definition of reservoir rock properties that affect field development and asset management. ML and deep-learning capabilities have been implemented to predict critical reservoir properties based on qualified legacy data. The work flow is aimed at bridging gaps in areas with limited core data coverage, reducing subsurface uncertainty and risk, and accelerating project delivery. In addition, data-prediction accuracy can be improved with ML applications as new data become available. Phase I: Data Preparation and Verification In this stage, more than 60,000 data points are gathered from 327 wells and grouped into different categories such as routine core analysis, special core analysis, geology, and rock mechanics. Leveraging on best practices in laboratory core analysis and subject-matter expert (SME) expertise, 88 QC rules are generated to delineate the data, identify outliers, and classify the data into good quality (labeled as 0), data requiring further QC (1), and rejected data (2). The generated QC rules target various rock properties such as porosity, permeability, capillary pressure, electrical properties, relative permeability, and rock mechanics. QC-rule implementation is an iterative process in which, after the initial screening, the rules are further optimized and enhanced to assist data classification based on practical experiences. These QC rules are needed because some observed data errors are related to data tabulation and incorrect naming. A total of 1,826 relevant variables, generated by different vendors, was extracted during QC-rule creation. These variables had to be merged in the QC process, which reduced the number of variables to 240.

Assessment of Economic Viability of Small-Scale Farms in Serbia

Summary This paper deals with production and economic results of small-scale farms in the Republic of Serbia. Small-scale farms include farms with standard output value from 4,000 to 25,000 euros. The main aim of the paper is to determine and evaluate profitability and productivity of farms engaged in different types of farming. Economic viability of farms was determined based on profitability and productivity indicators. Although these indicators are not the only indicators of economic viability, they are most commonly used and the most reliable. The farms are divided into seven groups of farming: field crops, horticulture, vineyards and fruits, dairy production, livestock production – grazing livestock, granivores, mixed crops–livestock. The analysis was based on FADN data for a 5-year period (2015-2019). The number of farms in the sample was increasing over the years, reaching 1,655 in 2019, while a large number of them belonged to a class of small-scale farms (48.5%). Utilised agricultural area on average ranged from 9.2 ha to 10.8 ha per farm. The highest labour input was recorded in horticulture (2.5 – 4.0 AWU), while the lowest labour input was determined for field crops (1.5 – 2.0 AWU). The values of profitability and productivtity indicators were the highest for horticulture farms, which had the highest ROE indicator (0.257) and FNVA per AWU (11.4 thousands euros) in 2019. On the other hand, farms involved in grazing livestock had the lowest results, with ROE of 0.127 and FNVA per AWU of 6.4 thousands euros in 2019. As expected, more intensive types of farming (horticulture and granivores) achieved better results, so these farms are considered as more economically viable. Furthermore, less intensive types of farming (grazing livestock and mixed crops-livestock) should make better use of natural and internal resources, while farmers, especially younger ones, should withdraw from traditional and old-fashioned ways of production and be more innovative and creative in farm management.

Leaving no aspect of sustainability behind: A framework for designing sustainable energy interventions applied to refugee camps

The issues of forced displacement and energy for sustainable development are convergent: an estimated 90% of displaced people globally have no access to electricity, while 85% of refugees are hosted in developing countries. However, few tools to plan and design sustainable energy access interventions have been transposed to displacement settings. This paper presents a novel framework for the holistic planning of energy projects which considers both sustainability aspects and the specificities of displacement settings. The framework is the result of a review of literature which aimed to define a “sustainable energy intervention” in displacement contexts and an assessment of relevant planning tools against this definition. The framework includes the use of an energy delivery model toolkit, an inclusive design approach, an assessment of the desired impacts, energy system modelling, business model design, and an assessment of economic viability. We apply the framework in the design of a solar mini grid of Holl Holl refugee camp in Djibouti, in which a sustainable intervention and business model are proposed that could be compatible with the local conditions. We highlight issues that arise from the humanitarian sector status quo and propose that this framework could help to enhance sustainable energy practices in the humanitarian and development sectors.