Negative Net Present Value Research Articles

Evaluating the Financial Performance of Bharti Airtel: An Analysis of WACC, NPV, IRR, Profitability Index, and Payback Period

This research paper aims to conduct a comprehensive financial performance evaluation of Bharti Airtel Limited by analyzing key financial metrics including Weighted Average Cost of Capital (WACC), Net Present Value (NPV), Internal Rate of Return (IRR), Profitability Index (PI), and Payback Period. The project's financial infeasibility is highlighted by a negative Net Present Value (NPV) and a poor profitability index, indicating that the anticipated returns are insufficient to justify the initial investment. Further analysis shows the Internal Rate of Return (IRR) falling below the cost of capital, reinforcing the project's unviability. Additionally, both standard and discounted payback periods exceed ten years, demonstrating an extended timeframe for cost recovery. These findings collectively suggest that Bharti Airtel should explore alternative investment opportunities better aligned with its financial objectives.

ANALYSIS OF THE ECONOMIC PERFORMANCE OF PROJECT ADVANCED OIL RECOVERY WITH CO2 INJECTION (EOR/CCUS-CO2) THROUGH FINANCIAL INDICATORS: BRAZILIAN OVERVIEW

Enhanced Oil Recovery (EOR) is a method associated with Carbon Capture, Utilization, and Storage (CCUS) that consists of injecting CO2 into mature oil fields to store CO2 and enhance production. CO2-EOR projects are costly, requiring technical and economic evaluations to determine their viability. This research analyzes various economic parameters in CO2-EOR projects to develop a comprehensive model for assessing their economic viability in Brazil. The model was tested on projects developed by Silva et al. (2010) and included six scenarios of CO2-EOR in mature reservoirs. The results demonstrate the impact on well completion costs. The scenario with the highest oil production had one additional completion and, for this reason, did not show the best Net Present Value (NPV) result. This work also conducts a sensitivity analysis of parameters and reviews their impacts on NPV. Results indicate a significant impact of barrel price and minimum attractiveness rate on the NPV, while finding that the taxation of excess CO2 was not very significant. Low barrel prices (<$9) proved to be unfeasible with negative NPVs.

Extended material requirement planning (MRP) within a hybrid energy-enabled smart production system

A smart production system can be made energy-efficient using renewable energy and is considered to maintain the extended material requirement planning under a logistics system by using radio frequency identification. The tracking technology provides information about products with real-time notification. This study investigates renewable energy usage within a smart production system as renewable energy can contribute to Net Zero Emissions. The logistics framework involves an autonomation technology-based production system, optimum cash flow, logistics, and carbon emissions. Time is an essential influencer for material requirement planning. The model is solved with a Laplace integral transformation, where an associated matrix method is utilized by the input–output analysis. The theoretical concept is elaborated through an illustrative numerical example, where the energy consumption and corresponding net present values are evaluated. Numerical and graphical studies prove the effectiveness of the model for the use of renewable energy within for material planning under a reverse logistics system. The result reveals that efficient renewable energy consumption can save considerable costs and reduce the negative net present value of the system. It is found that skilled workers are worthy of a smart production system, not only in a qualitative aspect but also in an economic aspect.

Time is Money: The Return on Investment of Research in Surgical Training: Brief Title: The ROI of Research in Surgical Training

IntroductionFuture income potential can impact surgical trainees’ career choices, particularly when deciding to subspecialize, which often requires additional training and research time. This study quantifies the effects of added time on career value for eight surgical subspecialties. MethodsThe Net present value(NPV) was calculated for eight subspecialties and general surgery over a 35-year career, factoring in salary, educational debt, tax, inflation, and practice setting. NPV for each was compared over a number of research years (0, 1, 2) using data from the MGMA, AAMC, and US government records. ResultsAfter a 35-year career, six subspecialties in private practice increased career NPV(>$14,000) with 0 research years. One additional research year yielded negative career values for transplant, trauma, and vascular; with two, only cardiovascular and pediatric retained a positive NPV. In academia, 1-2 research years resulted in negative NPV for all but cardiovascular and thoracic surgery. ConclusionsThe financial return of additional training years is highly variable.

Unlocking the techno-economic potential of biomass gasification for power generation: Comparative analysis across diverse plant capacities

This research aims to evaluate the techno-economic viability and commercial potential of biomass gasification across different capacities. Sensitivity analysis was conducted based on an established downdraft gasifier model using Aspen Plus. Results underscored the significant impact of gasification temperature and equivalence ratio (ER) on syngas composition, low heating value (LHV), and cold gas efficiency (CGE). Among the feedstocks tested, coconut shell emerged as a feasible feedstock, yielding syngas with an LHV of 8.93 MJ/Nm3 and achieving a CGE of up to 71.12 %. Optimal gasification temperatures ranged between 750 °C to 1,000 °C, with peak ER falling within 0.1 to 0.3. Economic analysis revealed that smaller-scale operations like Plant A resulted in a negative net present value of − US$0.63 million, indicating unfavorable investments. The internal rate of return notably increased from 9.53 % for Plant B compared to −2.56 % for Plant A (20 kW). Plant D, with larger capacity of 20 MW, showed an impressive payback period of less than two years (1.69 years). Medium to large-scale plants such as Plant C (2 MW) and Plant D demonstrated greater economic resilience, with Plant D achieving a significantly lower levelized cost of electricity of US$ 0.19/kWh compared to Plant A at US$ 0.86/kWh. It was noted that the impact of capital costs, operating expenses, and revenue variations is less pronounced at larger scales. The findings from this study shed light on the feasibility of biomass gasification for power generation as a viable option, thereby unlocking the potential for its large-scale commercialization.

Techno-economic assessment of large-scale sedimentary basin stored–CO2 geothermal power generation

One approach to reducing atmospheric carbon dioxide (CO2) emissions is to adopt carbon capture utilization and storage (CCUS) strategies. This is particularly crucial for countries to achieve their net-zero goal. In this study, we investigate the techno-economic viability of a proposed CCUS process that utilizes geologically stored CO2, associated with hydrogen (H2) production from fossil fuels, as a working fluid to extract geothermal energy from deep, large-scale, sedimentary storage formations. The process ensures permanent geological storage of all injected CO2 while generating adaptable geothermal power through supercritical CO2 turbine expansion, thus, bolstering revenue and reducing the final cost of blue hydrogen production. We simulate subsurface-wellbore fluid flow and heat transport for a representative 4-way closed anticlinal Arabian reservoir and optimize system power output, including a comprehensive and integrated economic analysis. We find that CO2 captured from an equivalent blue H2 production of ∼4.1 Mt./year can be injected at an annual rate of 0.92–1 million metric tons (Mt) per well, resulting in a cumulative sequestration of ∼1.15 gigatons (Gt) of CO2 over 11.5 years. To mitigate the risks of reaching the formation parting pressure at the crest of the anticline and ensuring sufficient CO2 saturation at the production wells, phased drilling schedules and pressure-controlled injection and production are essential. With horizontal production wells, our simulations generate an average geothermal net electricity of 164 MW. The base-case economic analysis reveals a Levelized Cost of Electricity (LCOE) of 77 $/MWh and a Net Present Value (NPV) of 480 million USD over 50 years. In contrast, vertical production wells double LCOE, and the project remains unprofitable throughout its life (negative NPV). Our economic sensitivity analysis further emphasizes how the capacity factor, electricity selling price, and drilling costs govern LCOE and NPV. On the other hand, discount rates and Opex fraction are influential yet uncertain parameters affecting the system's techno-economic outlook. Therefore, our study provides valuable insights into the benefits of geothermal energy production from over 1 Gt of stored CO2 and the associated economic landscape.

A comparative assessment of sewage sludge valorization via anaerobic digestion and supercritical water gasification: A techno-economic case study in Norway

This study compared the performance of supercritical water gasification (SCWG) to conventional anaerobic digestion (AD) for treating sewage sludge from a wastewater treatment plant (WWTP). Based on plant data from a WWTP in Norway, kinetic-based process models have been developed in Aspen Plus® to investigate the energy and economic feasibility of AD and SCWG for sewage sludge (SS) treatment. The findings showed that low ambient temperatures significantly reduced the energy efficiency of the AD, while their effect on the SCWG process was negligible. At the average ambient temperature of 7 °C and SS concentration of 7 wt%, AD and SCWG achieved thermal energy self-sufficiency (TES) of 0.76 and 0.63, respectively. Under these conditions, the AD and SCWG had energy conversion efficiencies (η) of 25.8% and 46.6%, respectively. However, increasing the SS content in the SCWG to 15 wt% improved the TES to 1.22 and η to 73.2%, making it a more attractive alternative to the AD.At 7 wt% SS concentration, the AD and SCWG processes required an investment cost of $ 4.08 million and $ 6.83 million, respectively. Under the study assumptions, neither AD nor SCWG proved profitable, revealing negative net present values (NPV) and operating costs of $0.96 million and $0.92 million, respectively.

Investment Feasibility and Strategic Development Scenarios of Yogyakarta-Bawen Toll Road

This study examines the feasibility of the investment in the Yogyakarta-Bawen toll road project by analyzing traffic conditions, expenditure costs, toll revenues, and investment value. Simulation using PTV Visum shows a significant increase in the volume-to-capacity ratio (VCR) on the national road sections around the toll road until 2061. The modeling result also indicates that the operation of the toll road reduces traffic loads on several surrounding national road sections with a decrease in VCR. The analysis results reveal a negative net present value (NPV) amounting to -Rp.506,560,648,100, and an internal rate of return (IRR) of 11.49% is under the discount rate (12.03%). In the tariff adjustment scenario, the project shows an IRR of 12.48% with an NPV of Rp 575,501 million, and the payback period (PBP) is achieved after 16 years. In the concession adjustment scenario, the IRR is 12.12% with an NPV of Rp 123,461 million, and the PBP is achieved after 17 years. Meanwhile, the tariff and concession adjustment scenario show an IRR of 12.48% with an NPV of Rp 652,033 million, and the PBP is achieved after 16 years. Based on the investment feasibility evaluation, the recommended best strategy is tariff adjustment. This strategy allows for an optimal increase in toll revenue and investment returns. It is expected that the Yogyakarta-Bawen toll road project can achieve better investment feasibility and provide long-term benefits to investors, road users, and the overall community.

The economics of farming expansion in the Brazilian Cerrado under possible effects of climate change

Abstract This analysis assesses the financial viability of legally investing in native Cerrado vegetation deforestation for crop production, considering climate change. The study uses data from twelve different crop models based on three different climate models to predict potential future crop yields in cleared land for growing soy and maize. The outcomes show that in many micro-regions, investments in clearing land for crop production would destroy economic value, that is, generate a negative net present value because of low/negative and volatile cashflows driven primarily by future yields as affected by climate. Our analysis was carried out based on present agricultural practices and technology. As climate changes, farmers may adapt their practices, which can lead to more resilient and productive crops, or grow different crops, which could provide better returns on investment in clearing land than the ones resulting from our analysis. Despite various uncertainties, farmers, policy makers and financial institutions should be aware of the climatic and financial risks associated with land clearing in Brazil, mainly in micro-regions in which all scenarios resulted in negative outcomes in the investment analysis.

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

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.

Techno-economic analysis of a mini biogas electricity plant (MBEP) for a typical farm in the Zimbabwean off-grid areas

AbstractIn response to declining electricity production in Zimbabwe, the energy regulator engaged various stakeholders to work together to solve the energy shortage problem. Biomass waste, abundant in the country, can contribute to electricity generation for consumption and export to the grid. Compared to other renewable energy resources such as wind and solar, biomass has lower investment and per unit operational costs, making it more affordable. Although farmers in the remote off-grid areas produce large amounts of waste, which can be used for biogas production via anaerobic digestion (AD), the farmers are still ‘energy-poor’. There is insufficient information to enable farmers to make informed decisions on AD technology uptake. This study conducted a techno-economic assessment for a mini biogas electric plant (MBEP) for a typical farm in Zimbabwe’s off-grid areas. The sustainably available biomass for biogas production was determined, followed by quantifying the biogas produced, sizing and selecting the digester type, and sizing the generator. The MBEP produces 435,350.7 kWh of heat and electrical energy from 452 t of biowaste. The first biodigester-type option, the garage-shaped, has a negative net present value ($$NPV$$ NPV ) of − US$416.4. The Carmatec biodigester, the most popular AD technology in the country, has a positive $$NPV$$ NPV (US$216,447.7), but its economics needs improvement. Adopting AD technology allows farmers to mitigate environmental pollution and improve soil fertility by converting organic waste into biogas and biofertilisers and promoting sustainable agricultural practices. Research was recommended to investigate supportive policies, incentives, and regulatory frameworks to promote the widespread adoption of AD technology in agricultural settings.

Assessing economic sustainability and resilience of tomato farming ventures in Addis Ababa: A project-based evaluation

This study assessed the economic sustainability and contribution of tomato farming ventures to Addis Ababa's resilience. Using a project-based evaluation method, the profitability of tomato production was analyzed with and without the cost of water. The results showed that including the cost of water, the venture had a negative net present value (NPV) of 30100 USD/hectare/annum, an internal rate of return (IRR) of 0.2%, a payback period (PBP) of over ten years, and a cost-benefit ratio (CBR) of 0.83. However, without the cost of water, the venture showed a subtle profit, with an NPV of 15100 USD/hectare/annum, an IRR of 21%, a PBP of 2.9 years, and a CBR of 1.02. Sensitivity analysis revealed that an increase in sales price and yield positively affected profitability, while an increase in operating cost had a negative effect. The study concluded that when water costs are considered, the tomato venture in Addis Ababa is not profitable or sustainable, and does not contribute to the city's resilience. However, without water cost accounting, the venture's contribution to the city's resilience is minimal. The study recommends policy interventions to enhance farmers' access to the market, establish agro-industries, and improve their bargaining power.

A Comparative Benefit-cost Analysis for the Potential Waste Management Options for the Western Province, Sri Lanka

Sri Lanka generates 7,000 metric tons of solid waste per day while only 3,242 tons are being collected. Within the Western province 1783 metric tons are collected daily. Management of municipal solid waste is mainly a responsibility of local governmental entities. Only a few waste management options are often practiced while economic aspects of this problem are rarely taken into consideration. The present study was designed therefore with the objective of analysing current and potential waste management options for the western province and identifying the best option that maximises the net benefit to the country. Seven different options for municipal solid waste management were identified for the analysis (option 1–open dumping; 2-sanitary landfilling; 3- recycling paper, polythene, glass and other recyclable waste (15%) and open dumping the rest; 4- composting the biodegradable (62%) and open dumping the rest (38%); 5-composting the biodegradable (62%), recycling paper, polythene, glass and other recyclable waste (15%) and open dumping the remaining; 6–waste to energy handled by the government; 7–waste to energy collaborated with private organizations). Then costs and benefits, including environmental costs related to each option were identified and quantified using literature and information obtained from interviews held with coordinators of waste management projects under both government and private sectors. Economic cost-benefit analyses were conducted for the seven options for a period of 30 years assuming that a constant amount of municipal solid waste (100 MT) per day is treated by each method. All seven models were developed on the basis of current municipal solid waste composition. According to the net present value analysis, five options resulted in negative net present values, while options four and five showed positive net present values. In the next step, the value of compost was re-estimated considering the replacement benefit of imported nitrogen, phosphorus and potassium fertilizer which has yielded a much higher net present value than earlier. Furthermore, option five was identified as the economically most profitable option. The results of the study will provide guidance toward designing the most economically and environmentally viable waste management options for urban areas of Sri Lanka. 
 Keywords: Municipal solid waste, Composting, Recycling, Cost-benefit analysis

Economic viability of using OvSynch and fixed timed artificial insemination protocol in breeding improvement of pastoral herds in the rangelands.

Though using Assisted Reproductive Technologies (ARTs) can improve oestrus detection, conception and pregnancy success, thus benefit breeding program implementation, empirical evidence of their economic viability is lacking to inform investment decisions in pastoral herds. This study assessed economic viability of using OvSynch and fixed Timed Artificial Insemination (TAI) protocol in Sahiwal upgrading breeding program under two hypothetical cases of best and worst in activity-based money allocations when pastoral herds deploy either optimal or low input husbandry practices. From herd owners' assessment of milk production, best-case scenarios attain on average 10 L/cow/day with optimal husbandry and 5 L/cow/day with low input husbandry. The worst-case scenarios attain 5 L/cow/day with optimal husbandry and 1 L/cow/day with low input husbandry. Benefit- Cost Analysis (BCA) estimated Net Present Value (NPV), Benefit-Cost ratio (BCR) and Internal Rate of Return (IRR) to establish economic viability of using OvSynch and TAI Protocol in pastoral breeding programs. Both best-case scenarios retuned positive NPVs (82,028 and 6,912), BCR values (1.68 and 1.08) and IRR (27.46% and 8.08%) while worst-case scenarios returned negative NPVs (-135,855 and -141,025), BCR values of below 1 (0.87 and 0.66) and IRR values below the minimum rate of returns. These economic parameters were sensitive to price changes in inputs and outputs, under both optimal and low input husbandry practices. Results indicate that using OvSynch and TAI Protocol is a profitable and economically viable investment under optimal husbandry practices but not under low input husbandry practices. By implications, use of OvSynch and TAI Protocol in Sahiwal upgrading breeding programs need be accompanied with improved husbandry practices and de-risking pastoral herd owners from price changes in input and output markets.

Techno-economic feasibility analysis of a large-scale parabolic trough thermal power plant in Effurun-Warri, Nigeria

Abstract 
 In the modern world, solar energy is one of the most mature renewable energy resources for electricity generation. Because of the growing interest in green energy and CO2 reduction, concentrated power technologies have gained prominence all over the world. Several parabolic trough power plants are currently operational in various parts of the world. However, despite the region's favorable weather conditions, Nigeria and Sub-Saharan Africa have yet to adopt this technology. To galvanize the integration of solar energy into the energy infrastructure in Nigeria, technical and economic feasibility studies are required. This paper presents a techno-economic viability assessment of a 25 MW Parabolic Trough solar thermal power plant for electricity generation in Effurun-Warri, Nigeria. The System Advisor Model (SAM) software was used for the analysis, based on the validated technical and financial models inbuilt into the software. Results showed that the plant is technically feasible in Effurun-Warri with a capacity factor of over 35%, which compares favourably with other similar plants across the globe. However, the levelized cost of electricity (LCOE) of 11.87 cents/kWh obtained is significantly higher than the subsidized cost of electricity in the country, by about 99%, leading to a negative net present value of the project. To improve cost, optimized design parameters of the plant should be adopted for performance simulation in the SAM software.

“Forest carbon sequestration mapping and economic quantification infusing MLPnn-Markov chain and InVEST carbon model in Askot Wildlife Sanctuary, Western Himalaya”

Due to the expeditious rise in anthropogenic activities and rapid extractive pressure, protected areas in the Indian Himalayan Region (IHR) are experiencing significant losses in ecological diversity and a substantial decline in the potential for carbon sequestration and climate change mitigation. The quantification of carbon sequestration and the understanding of its corresponding economic gain/loss are crucial for raising strict preservative concerns in protected areas with rich ecological and economic values. Transitions in land use land cover (LULC) trajectories from historical to future scenarios impact the dynamics of carbon storage and sequestration in terrestrial ecosystems. The present study extends a comprehensive 40-year (1995–2035) assessment of carbon mapping (gain/loss) as well as an economic approximation of carbon sequestration in the Askot Wildlife Sanctuary (AWLS), Western Himalaya, using satellite data. This investigation presents a novel hybrid approach by infusing machine learning algorithms and a spatial-temporal technique-based MLPnn-Markov chain model for future LULC simulation with the InVEST model that incorporates carbon mapping and economic valuation. The results show that among all the land use classes, dense forest has the highest carbon density; however, it exhibits a decreasing trend from 1995 (5,695,878.41 Mg/ha) to 2035 (4,378,439.81 Mg/ha). The economic quantification of carbon sequestration was performed by applying sensitivity analysis combined with different carbon prices and discount rates from 2020 to 2035. The observed outcomes reveal significant economic losses due to rapid forest cover decline, as indicated by a negative net present value (NPV) ranging from a minimum of ∼US$ -8 million to a maximum of ∼US$ -53 million. This study develops a valuable database by providing evidence-based decision-making and guidance for the sustainable preservation of ecosystems in the Western Himalayas and similar regions worldwide, where forest carbon sequestration is of paramount importance. The findings of the study suggest sound provisions for the conservation of forested landscapes and the development of efficient voluntary and regulatory carbon trading markets to achieve stability in forest carbon stocks. In doing so, this interdisciplinary approach addresses the growing imperative of integrating ecological and economic aspects in the context of biodiversity conservation and climate change mitigation.

Shade versus intensification: Trade-off or synergy for profitability in coffee agroforestry systems?

CONTEXTCoffee agroforestry systems (shaded coffee) are considered less productive but more resilient than more intensive production systems. A persistent challenge for coffee farmers is the extreme fluctuations in coffee prices, leading to a loss of profitability and lower investment in production. There are contrasting conclusions regarding the profitability trade-off between increasing productivity through intensification and the sustainability benefits of shade tree coffee agroforestry systems. OBJECTIVEUsing a typology of different intensification and sustainability coffee production strategies in Costa Rica and Guatemala, we assess the economic feasibility and sensitivity of those strategies under likely future scenarios of price and cost variability. METHODSBased on on-farm survey data from a large-scale survey of farmers with information on costs, prices and yields over ten years, a probabilistic cash flow analysis was used to create a stochastic model for net returns. RESULTS AND CONCLUSIONSUnder future price scenarios, the Net Present Value (NPV) for coffee production was greatest for the high-productivity farms with high investment and moderate shade levels. The NPV of low-investment farms was greater (and positive) for highly shaded coffee production than for low shade coffee production (which, on average, had a negative NPV), despite the two having similar levels of investment. Diversification with bananas or avocados in association with coffee only improved NPV for high-value export avocado. Despite the substantially higher production costs for the high productivity systems, they generally maintained higher probabilities of achieving a positive net cash income or achieving a living income under most labour, fertilizer or coffee price scenarios, except a 50% fall in coffee prices. Diversification effects were as sensitive to changes in labour and input costs but in most cases reduced the probability of a more pronounced negative net cash income under low coffee price scenarios. We find an increase in coffee prices by 50% was needed to enable all farmers to achieve a positive net cash income; with an increased probability of achieving returns comparable with a living wage for higher productivity systems. SIGNIFICANCEWe conclude that high-investment, high-productivity coffee production systems are compatible with shade-grown production; more likely to lead to economic success and achieve positive returns under most conditions, except large falls in coffee prices. For farmers with limited capacity to invest, high-shade production systems provide a positive cash return under a broader range of price conditions than low-shade systems.

Are Tahiti Limes Profitable in South Florida? A Deterministic and Stochastic Budget Analysis

ABSTRACTTahiti limes were an important fruit tree crop in South Florida until the late 1990s. Several factors contributed to the demise of the Florida lime industry, namely the impact of hurricane Andrew in 1992 and the arrival of Citrus Canker (CC) in 1995. The Florida lime industry was then eradicated in the early 2000s to protect the main commercial citrus industry from CC. This article focuses on the financial viability of reintroducing Tahiti lime production in South Florida. A total of 20 Tahiti lime scion/rootstock combinations were evaluated under endemic CC and Citrus Greening (CG) conditions. We created a deterministic and a stochastic budget to evaluate the feasibility of reintroducing Tahiti limes in South Florida that incorporated yields from experimental plots. We also implemented a financial analysis, that included net present value (NPV) and internal rate of return (IRR) estimations, for a 20-year period with the Tahiti lime/citrus macrophylla (TL/CM), the best performing scion/rootstock combination. Our findings indicated that Tahiti lime production in South Florida was not financially feasible; we obtained a negative NPV from both the deterministic and stochastic budgets. We conclude with a discussion of potential scenarios for the Tahiti lime industry in the US and on lessons for other crops that face similar production challenges.

Assessing Mediterranean agroforestry systems: Agro-economic impacts of olive wild asparagus in central Italy

The intensification of Mediterranean farming systems has adversely affected the environment. As a result, climate change, soil and land degradation, and biodiversity loss have been exacerbated. A potential solution for addressing these challenges and enhancing farm sustainability is diversification, such as implementing agroforestry systems. Specific indicators are commonly used to evaluate the potential of diversification practices. However, agreement on a common set of assessment indicators is rarely reached. Moreover, the different biophysical and socio-economic conditions between regions make it difficult to adopt practices based on standardized assessments. This study aims at developing a practical methodology to assess the sustainability of Mediterranean agroforestry systems, using a three-dimensional evaluation concept for agro-environmental, economic and social performances. The steps in this study were, (i) define a set of relevant indicators and selection criteria, (ii) validate and select indicators through a participatory approach and (iii) apply the indicators to assess the performance of olive-wild asparagus agroforestry systems in central Italy. Expert opinions and stakeholders’ participation were found to play an important role in identifying relevant indicators for assessing farming systems. The results showed that intercropping wild asparagus within olive orchards provides agro-environmental benefits and economic profitability, but also causes a higher workload. With a land equivalent ratio above one, the agroforestry system is more productive and results in a 50% higher income than olive sole cropping. With similar management practices, both systems had a comparable energy use efficiency and pesticide load index value. However, the annual workload, during the full production phase, increases by 75% in the agroforestry system mainly due to manual labor required for asparagus harvest. Furthermore, the agroforestry system had better economic resilience (positive net present value) in the face of drops in crop prices and rising production costs by up to 15%, whereas olive sole cropping generated negative net present value if costs increased by 10% or prices fell by 5%.

Techno-economic feasibility of using solar energy in small-scale broiler production

Poultry farming is an energy intensive industry necessitating a substantial amount of fossil fuel consumption and leading to elevated operational expenses. This study investigated the economic feasibility of implementing renewable energy in small-scale broiler farms to decrease their dependency on fossil fuels and increase their profit. Assessment was based on experimental data collected from broiler production operations carried out in a green poultry house equipped with solar renewable energy systems and a conventional poultry house operated on conventional energy source. The experiments were conducted during both the warm and cold seasons in a semi-arid rural area in Lebanon. Average annual costs and benefits from broiler operations were calculated based on a total of 8 production cycles/year. Cost-benefit analysis was conducted to assess the viability of introducing renewable energy in broiler production. In addition, a twenty-year financial feasibility analysis was performed for both green and conventional systems using two different time value of money parameters; the Net Present Value (NPV) and the Benefit Cost Ratio (BCR). The results showed that broiler production using conventional energy achieved a total cost of 2.25 % lower than the cost incurred using green energy and higher total revenues of 5.55 %. Negative NPV and less than 1 BCR values were computed for both green and conventional systems demonstrating that broiler production in the study area is non-profitable in small-scale broiler farms, independently of the source of energy. Accordingly, it is recommended to adopt renewable energy cooperatives based on partnership between small-scale farms. This cooperative-based partnership model has proven to allow the adoption of renewable energy sources as sustainable and economically viable approach, contributing to increased farmers' revenues. Government subsidies and financial incentives are also essential to ensure the success and sustainability of the renewable energy cooperatives.