This study presents an integrated experimental simulation and multi-objective optimization methodology that maximizes energy production and optimizes economic performance in the design of wind power plants (WPPs). The relationship between five fundamental design parameters (wind speed (XWS), hub height (XHH), rotor diameter (XRD), turbine spacing (XTS), and row spacing (XRS)) and five techno-economic outputs (annual AC energy (YAEP), net present value (YNPV), levelized cost of energy (YLCOE), net cost of capital (YNCCpw), and total BOS cost (YTBC)) is systematically investigated using a Multi-Level Full Factorial Experimental Design (DoE) for four different US regions (Southern Wyoming, Southern California, Northeastern West Virginia, and South Florida). The optimization was performed by applying a multi-objective desirability function to regression models derived from 1200 NREL SAM simulation data points, thereby simultaneously evaluating five design parameters across five techno-economic responses. ANOVA results revealed that 77.5% of the variability in annual energy production was due to wind speed and 21.4% to rotor diameter, clearly demonstrating the decisive role of resource quality in project feasibility. Optimization identified the optimal configuration (XRS = 5, XTS = 3, XWS = 10.157 m/s, XHH = 120 m, XRD = 70 m) that provided a balanced trade-off between conflicting objectives, achieving 575.16 GWh of YAEP, $42.02 million of YNPV, $43.66 million of YTBC, 2.368 cents/kWh of YLCOE, and $1.508/W of YNCCpw. The study emphasizes that resource evaluation precedes technological optimization in the planning phase of wind energy projects, demonstrating that integrating DoE, simulation, and multi-objective optimization provides a strong framework for achieving realistic, feasible, and economically sustainable WPPs. The novelty of this approach lies in its ability to simultaneously account for environmental stochasticity and economic feasibility, providing a robust computational roadmap for stakeholders to maximize energy efficiency while minimizing levelized costs.

Optimizing thinning regimes for Larix olgensis plantations: A dual-objective approach for carbon balance and wood production.

This research evaluates four sustainable masonry block options used in Iraq and examines their impact on insulation performance, construction productivity, building time, and total cost. Also, it assesses the sustainability of four common masonry block types in Iraq—conventional concrete, pumice-based blocks, clay hollow blocks, and Izocrete (EPS-based) blocks—by thoroughly comparing their thermal performance, construction efficiency, environmental footprint, and long-term economic viability. A quantitative approach is used, including calculations of thermal transmittance (U-value), heat-load modelling, yearly energy cost estimates, and life-cycle cost analysis (LCCA) over 50 years. Results indicate that pumice and Izocrete blocks have much lower U-values (0.108 and 0.078 W/m²·K, respectively) compared to conventional concrete blocks (2.39 W/m²·Kleading to major reductions in cooling loads. Annual energy savings amount to $300.55 for pumice, $266.14 for clay, and $304.34 for Izocrete blocks, compared with $935.71 in annual cooling costs for conventional concrete walls. Productivity analysis shows that lightweight blocks improve construction efficiency by about 20%, shortening project duration by roughly two workdays and saving up to $1,760 in labor costs per unit. Environmental analysis reveals pumice and clay blocks emit the least embodied CO₂ due to their natural materials and lower manufacturing energy. A 50-year present value (PV) analysis demonstrates strong long-term financial benefits, with Izocrete attaining the highest net present value (over $390,000), closely followed by pumice. Overall, the results emphasize the economic and ecological benefits of using lightweight, thermally insulating blocks in Iraq’s residential building sector. Future research should explore actual thermal performance under different climate conditions and develop policies to promote the widespread adoption of sustainable wall systems.

Transit-Oriented Development is a crucial strategy for addressing urban sprawl and improving mobility, particularly in rapidly urbanizing regions like Indonesia. Transit-Oriented Development integrates high-density, mixed-use developments with public transportation infrastructure, offering sustainable urban growth solutions. However, despite its benefits, the financial feasibility of Transit-Oriented Development in emerging economies remains under-explored. This study assesses the financial viability of a Transit-Oriented Development project in Tangerang, Greater Jakarta, focusing on key financial indicators such as Capital Expenditure, Operational Expenditure, Internal Rate of Return, and Net Present Value. The study uses financial modeling, analyzing data from the project's feasibility reports and investment summaries. The results show positive Internal Rate of Return, and Net Present Value, indicating financial viability under base case assumptions. However, the analysis reveals sensitivity to changes in Capital Expenditure and revenue assumptions, with increased Capital Expenditure reducing profitability and extending the payback period. This research fills the gap in Transit-Oriented Development financial feasibility studies in developing economies, providing valuable insights for similar projects in Southeast Asia and beyond. The findings underscore the importance of effective financial planning and risk management in ensuring the long-term success and sustainability of Transit-Oriented Development projects, highlighting the need for strong public-private partnerships to mitigate financial risks.

The construction industry confronts persistent challenges related to inefficiencies, rework, and cost overruns, driving the need for advanced digital solutions like Building Information Modelling (BIM). This research appraises BIM clash detection's financial and operational benefits, emphasizing its pivotal role in improving project performance. Centered on case study projects, the research employs a comprehensive cost-benefit analysis framework, integrating quantitative data from BIM clash reports, project rework logs, and qualitative insights from stakeholder interviews. The analysis evaluates financial indicators such as Net Present Value (NPV), Benefit-Cost Ratio (BCR), and Return on Investment (ROI) to determine the viability of BIM clash detection. Findings reveal that implementing this technology lessens rework frequency, enhances project timelines, and fosters stakeholder communication and coordination. A significant reduction in errors and rework also ensures higher cost savings and more efficient resource utilization. The study utilizes advanced techniques like federated BIM modelling, sensitivity analyses, and scenario-based evaluations to simulate real-world conditions and quantify outcomes. Results confirm a positive NPV, a BCR greater than 1, and a high ROI, underscoring BIM clash detection's economic feasibility and long-term value. The research illustrates how this technology mitigates construction risks, improves stakeholder satisfaction, and ensures superior project delivery quality. Through its rigorous methodological approach and robust analysis, this research demonstrates the transformative potential of BIM in modern construction. It offers actionable insights for stakeholders seeking to enhance efficiency, reduce costs, and adopt innovative technologies to revolutionize project delivery and management processes.

One of the key objectives of Phase 2 trials in drug development is de-risking the investment into costly Phase 3 trials. This de-risking introduces added costs, an extended drug-development duration, as well as the likelihood of discontinuing truly efficacious interventions based on chance findings. The choice of Phase 2 sample size and decision rules have, as such, large impact on the value of development programs. Still, Phase 2 designs are frequently guided by rather qualitative discussions on Type 1 error and power only, instead of discussing more directly the financial impact. In this paper, we introduce a model, which allows for the rapid assessment of the expected net present value (eNPV) and allows to optimize Phase 2 sample size and decision rules. Using a limited number of additional assumptions, the model generates helpful insights to ease understanding of program design operating characteristics. We discuss key limitations of designs, which are driven solely by the eNPV optimization, and propose an alternative using constrained optimization to optimize candidate Phase 2 study designs.

This research presents the development and evaluation of a system that integrates Near Field Communication (NFC) tags, a mobile application, and a cloud-based database, enabling real-time crop cultivation traceability through QR codes accessible to vegetable consumers. The system was tested in a hydroponic lettuce farm (10 plots, three planting cycles), where six cultivation activities were recorded and transmitted, with accuracy verified through 300 peer-to-peer transmissions per activity. User satisfaction was evaluated through surveys of 400 farmers and 400 consumers, while an investment analysis was performed on a 6 × 12 m hydroponic greenhouse (four units). The NFC-based system records and transmits data with an average precision of 98.7%. Both farmers and consumers expressed high satisfaction, particularly regarding convenience, durability, and data accuracy. When the selling price of vegetables cultivated with the proposed system was assumed to be 10% higher than that of conventional cultivation, the economic feasibility analysis indicated a payback period (PBP) of 3.84 years, a return on investment (ROI) of 130.09%, a net present value (NPV) of 5,076.07 THB, an internal rate of return (IRR) of 9.46%, and a benefit–cost ratio (BCR) of 1.005. NFC technology, therefore, enhances product credibility and can be regarded as a promising tool for advancing modern agricultural practices.

Objective: To analyze the economic, technical, and environmental feasibility of implementing a photovoltaic power plant in a private higher education institution (HEI) located in the state of Minas Gerais, comparing its results with those of a public institution that already operates a photovoltaic system, IFSULDEMINAS. Theoretical Framework: This research is grounded in the Sustainable Development Goals (SDGs), with emphasis on SDG 7 – Affordable and Clean Energy, as well as studies on sustainability in higher education institutions, environmental management, renewable energy sources, and the economic and financial feasibility of photovoltaic systems. Method: Data were collected from the private HEI and from IFSULDEMINAS covering the period from 2021 to 2024, in addition to the analysis of economic indicators such as Payback, Net Present Value (NPV), and Internal Rate of Return (IRR), as well as estimates of environmental impacts. Results and Discussion: The implementation of the photovoltaic plant is economically viable in both institutions, with a payback period of less than eight years and an IRR higher than the minimum acceptable rate of return. A higher financial return was observed in the higher education institution (due to its greater energy demand) and a significant reduction in CO₂ emissions. Research Implications: The study provides support for energy planning and the adoption of sustainable practices in higher education institutions, contributing to strategic decision-making and sustainability policies. Originality/Value: The study contributes to the literature by comparatively addressing the feasibility of photovoltaic energy in public and private higher education institutions, an area still underexplored in the national context, reinforcing the relevance of clean energy in the education sector.

This study examines the impact of financial reporting quality and Environmental, Social, and Governance (ESG) disclosure on investment efficiency in non-financial firms listed on the Indonesia Stock Exchange (IDX) from 2018 to 2023. Investment efficiency, defined as a firm’s ability to allocate capital to projects with positive Net Present Value (NPV), is increasingly important in Indonesia’s competitive and dynamic market. Despite growing interest, empirical evidence on the joint effects of financial reporting quality and ESG disclosure on investment efficiency remains limited, especially in emerging markets. This research investigates whether transparent financial reporting enhances investment efficiency and whether ESG disclosure constrains it. Using a quantitative method, 56 IDX-listed non-financial firms with consistent annual financial statements and Bloomberg ESG scores were selected via purposive sampling, yielding 336 firm-year observations. Investment efficiency was measured using residuals from the (Biddle et al., 2009) model, financial reporting quality through a modified accrual model, and ESG disclosure via Bloomberg ESG composite scores. Panel regression with bootstrapped standard errors (1,000 replications) was applied for data analysis. The results indicate that financial reporting quality positively affects investment efficiency (p < 0.05), while ESG disclosure negatively affects it (p = 0.05). These findings suggest that high-quality financial reporting improves capital allocation by reducing information asymmetry, whereas excessive or symbolic ESG practices may hinder efficiency if misaligned with strategic objectives. This study contributes to the literature by integrating financial reporting and ESG considerations within a single empirical framework in Southeast Asia, providing insights specific to the Indonesian context.

Thermal energy rejected through exhaust gases and cooling systems in marine propulsion units and conventional power plants represents a significant yet underutilized opportunity for improving energy efficiency and reducing carbon emissions. The Organic Rankine Cycle (ORC) has emerged as an effective technology for converting such waste heat into useful power using organic working fluids with favorable thermophysical properties. This study presents a comprehensive thermodynamic, economic, and exergo-economic evaluation of an ORC system incorporating single-stage and multistage turbine arrangements, using R245fa, R123, and R365mfc as working fluids. A validated cycle model is coupled with key economic indicators, including Net Present Value (NPV), Levelized Cost of Electricity (LCOE), and payback period, together with a simplified exergo-economic framework based on exergy destruction costs. The results demonstrate that implementing ORC-based waste heat recovery significantly enhances overall system performance by converting rejected thermal energy into electricity and improving thermal efficiency. Multistage turbine configurations further strengthen performance, increasing net power output and efficiency, with the multistage R245fa system generating more than 530,000 kWh annually. Economically, the single-stage R245fa configuration achieves the lowest LCOE (0.021 USD/kWh) and the shortest payback period, below eight years. Exergo-economic analysis shows that multistage turbines can reduce exergy destruction costs by more than 80%, with benefits becoming pronounced at heat source temperatures above 170 °C.

Severe storm damage has prompted calls to restrict large-scale clearfelling on Aotearoa, New Zealand’s erosion-prone land. We evaluated the impact of traditional versus catchment-oriented forest harvest scheduling of radiata pine (Pinus radiata D.Don) plantations on profitability and rainfall-induced landslide susceptibility in the Uawa catchment, Aotearoa, New Zealand. Fifty-nine per cent of the Uawa catchment area is covered with radiata pine plantations (31,899 hectares). These plantations are located within 89 catchment management units (CMUs) and 1123 hill slope units (HSUs). The HSUs are assumed to be the forest stands with stand ages as measured in 2024. We maximised the net present value of the forests subject to non-declining yield constraints, considering different maximum harvesting levels (MHLs) (10% to 50% of CMU area) that could be allowed for any single CMU during any single 5-year period. We found that profitability increased rapidly when the MHL increased from 10% to 20%, with only marginal increases after 25%. We chose an MHL 25% as optimal as it marginally reduced the internal rate of return (IRR) from the business-as-usual scenario (8.92%) to 8.52%. We calculated a proxy for rainfall-induced landslide (RIL) susceptibility as the aggregated sum of the area harvested from each HSU, multiplied by its RIL susceptibility. We then imposed on the MHL 25% scenario constraints for the RIL proxy to become constant over successive periods. This new scenario further reduced the IRR to 6.97% mainly explained by excluding the highest RIL prone stands from harvesting. Forest owners’ concerns about the economic and operational effects of catchment-oriented harvest scheduling appear to be surmountable.

Indonesia’s coal mining industry remains strategically important for domestic energy security and export competitiveness, making logistics infrastructure a critical determinant of operational performance. As coal production increases due to collaboration with neighboring mines, jetty facilities become potential bottlenecks affecting throughput, cost efficiency, and delivery reliability. This study evaluates the operational and financial performance of three jetty facilities operated by PT XYZ in East Kalimantan to identify the most economically beneficial jetty and assess the feasibility of infrastructure development. The analysis applies an operational cost–benefit approach using operational cash inflows and operating expenditures (OPEX), complemented by operational efficiency indicators such as gross profit margin and net profit margin. Based on comparative results, a Discounted Cash Flow (DCF) analysis is conducted for the selected jetty to evaluate a proposed conveyor development project using Net Present Value (NPV), Internal Rate of Return (IRR), and Payback Period. The findings reveal significant differences in cash-generating capability and operational efficiency among the three jetties, with one facility demonstrating superior economic contribution and stronger financial performance. The DCF results indicate that the proposed conveyor development is financially feasible and capable of improving long-term operational capacity. This study provides a cash-based, facility-level evaluation framework that supports data-driven investment decision-making for jetty development in coal logistics operations.

Municipal solid waste challenges (MSW) and concerns about fossil fuel dependence motivate efforts to recover energy from waste, including refuse-derived fuel (RDF). Techno-economic assessment (TEA) evaluates the feasibility of systems by quantifying investment performance. However, most RDF-TEA studies typically rely on isolated sensitivity analyses. That provides limited insight into interaction effects in emerging markets. This study maps the multivariable feasibility of RDF production from MSW in Ghana under realistic economic conditions. Using a pilot-calibrated case study, the assessment integrates discounted cash flow analysis with response surface methodology–design of experiment (RSM-DoE). A central composite design evaluates interaction effects among operational and economic variables for a system capacity of 2875 tonnes RDF/year. The results indicate economic viability with a net present value (NPV) of USD 892,556.44, a payback period (PBP) of 6.61 years and a levelised production cost (LPC) of USD 18.96/tonne. The RSM models show high explanatory power (R2, R2adj, R2pred > 90%). Sensitivity results demonstrate that support mechanisms can significantly reduce LPC and PBP while preserving investment viability. The study quantifies the feasibility thresholds and the support instruments within the RDF design levers. It further provides a transferable framework for assessing deployment and upscaling in emerging markets. The findings highlight the need for structured pricing mechanisms and regulatory support for the long-term sustainability of RDF as an AF.

This study examines the economic and organizational implications of implementing the Zimbra collaboration system within the Public Relations Division of PT Kereta Api Indonesia (Persero) Daerah Operasi 8 Surabaya. The background of this research is grounded in the persistence of manual communication practices, including physical correspondence and conventional email systems, which have generated high operational costs and inefficiencies in information dissemination. The objective of this research is to evaluate the feasibility and efficiency of Zimbra implementation using a Cost–Benefit Analysis (CBA) framework that incorporates both tangible and intangible benefits. A qualitative case study approach was employed. Data were obtained through direct system observation, in-depth interviews with Public Relations staff, and internal financial records. Tangible benefits were evaluated using Present Value (PV), Net Present Value (NPV), and Cost–Benefit Ratio (CBR), while intangible benefits were monetized through a proxy valuation approach based on work-time efficiency. The findings show that the Present Value of benefits amounted to IDR 113,474,169, with a Net Present Value of IDR 7,468,009,369 and a cost–benefit ratio of 0.015, indicating that, at the divisional level, the system is not financially feasible. However, the valuation of intangible benefits reached IDR 40,813,652, reflecting substantial gains in communication efficiency, document quality, risk mitigation, and decision-making speed. These results demonstrate that although the system appears financially inefficient when assessed in a limited organizational scope, it generates significant strategic value that supports organizational performance.

Abstract The environmental challenges posed by fossil fuels and climate change increasingly acknowledge biomass gasification as a vital renewable energy alternative. This study assesses the environmental and economic implications of syngas production from the gasification of wheat straw using a fixed‐bed downdraft gasifier. A gate‐to‐gate life cycle assessment was performed using GaBi software and the ReCiPe 2016 method, with a functional unit of one ton of wheat straw. Midpoint results of the current study, with grid mix power, showed a climate change (GWP) of 2.21E+07 kg CO 2 eq., a photochemical ozone formation, ecosystems (POFP, E) of 5.40E+05 kg NOx eq., and a fossil depletion (FDP) of 5.62E+06 kg oil eq. At the same time, the proposed photovoltaic scenario showed GWP as 1.99E+06 kg CO 2 eq, POFP as 7.02E+04 kg NOx eq, and FDP as 1.35E+06 kg oil eq. Transitioning to a photovoltaic energy scenario results in reductions of 91% in GWP, 87% in POFP, and 76% in FDP, respectively. Dominant substance analysis indicates that electricity is the key contributor to several midpoint impact categories in the current study. Sensitivity analysis revealed that electricity, compressed air, and steam were critical inputs among the major determinants of environmental performance. The economic assessment indicates financial feasibility, including a 2.2 years payback period, USD 16.68 million net present value for 20 years lifespan, and 45% initial rate of return. The findings help achieve Sustainable Development Goals 7, 12, and 13 and validate the circular economy concept.

The Kashkadarya region of Uzbekistan is experiencing significant water ecosystem degradation due to the discharge of 7 million m³/year of inadequately treated wastewater, resulting in elevated mineralisation, organic/microbiological pollution, and eutrophication. Climate change, typified by a 75% glacier loss within a 15-year timespan, has led to a marked intensification of water scarcity. The present study assesses membrane bioreactor (MBR) technology for sustainable wastewater reuse. MBRs have been shown to remove 97–98% of organic pollutants (BOD5 < 6 mg/L), thereby preventing 1,416–2,511 t/year of organic matter and 220–365 t/year of nitrogen from entering the river. In addition, they achieve >99.9% pathogen removal, ensuring safe irrigation. Notwithstanding the fact that capital costs are 13–15% higher than those of conventional systems (645 vs. 570 million USD), resulting in a financial net present value (NPV) of –670 million USD, inclusive of 149 million USD in ecosystem benefits, the socio-economic NPV is nevertheless –520 million USD. It is posited that MBRs, with government support ranging from 35 to 40 per cent, may offer the most viable solution for regions experiencing water scarcity.

The aim of this article is to analyze the relationship between the corporate income tax rate and net tax revenues in Slovakia and the Czech Republic using the Laffer curve concept. Based on data on actual tax revenues and their discounting to net present value, a quadratic regression analysis was created that takes into account the assumed parabolic relationship between the tax rate and tax revenues. The optimal tax rate was identified as approximately 17.64% for Slovakia and 26.12% for the Czech Republic. The results confirm the nonlinear nature of the relationship and suggest that excessive tax increases can reduce business motivation, encourage tax optimization, and threaten the competitiveness of the economy. The analysis emphasizes the importance of optimizing tax policy not only to maximize government revenues, but also to support investment and long-term sustainable economic growth.

This research is motivated by the significant increase in throughput at Kijing Port Branch, with an average increase of 171% from 2022 to 2024. This growth reflects the increasing demand for loading and unloading services, requiring companies to provide superior service and meet the growing market demand. However, on-the-ground conditions indicate that loading and unloading equipment, particularly key equipment such as mobile cranes, remains very limited. This limitation results in low cargo volumes being served. Therefore, to increase service capacity and maximize market potential, additional loading and unloading equipment and a restructuring of the service system at Kijing Port dock are required. In this regard, a comprehensive investment feasibility study is necessary, both from a financial and operational perspective. This research used secondary data, including production throughput data, and primary data from informants or sources. Using the variables of Investment Value, Rate of Return, Investment Period, Operating Income, and Operating Costs, a feasibility calculation is obtained, including Net Present Value (NPV), Benefit Cost Ratio (B/C Ratio), Profitability Index (PI), Payback Period (PP), and Internal Rate of Return (IRR). These calculations are then tested using sensitivity analysis and potential risks, and the potential increase in non-container cargo handling is calculated. The analysis provides a strong quantitative basis for determining investment strategies based on the NPV, IRR, BCR, PI, and PP. These indicators assist in assessing risk, weighing lease and purchase alternatives, and ensuring that mobile crane investment decisions truly add value to the company.

This study presents a comprehensive techno-economic assessment to optimize a hybrid renewable energy system for green hydrogen production in Jordan. Using the Hybrid Optimization Model for Electric Renewables (HOMERs) and System Advisor Model (SAM) software, this study evaluates multiple cost projections for 2030 technology costs. Key parameters such as capital cost, efficiency, and lifetime are varied extensively. Highlighted results show a wide range in the Levelized Cost of Hydrogen (LCOH), reaching 1.59 to 3.49 USD/kg, and the Levelized Cost of Energy (LCOE) from 0.0072 to 0.0301 USD/kWh. Furthermore, Net Present Value (NPV) spans from USD 424 to 927 million, depending on the scenario and sensitivity case. Technically, the system’s optimized capacities vary significantly. PV ranges from 203 to 457 MW, wind capacities range from 0 to 220 MW, and electrolyzers range from 192 to 346 MW, demonstrating the flexibility required to meet different cost and performance assumptions. The study’s broad relevance extends to developing countries with grid constraints, where off-grid green hydrogen production is feasible. Its framework can be adapted globally, offering valuable insights.

Renewable energy projects suffer from deep uncertainties associated with volatile market conditions, unstable policy regimes and changing technological landscapes. Traditional valuation tools like Net Present Value (NPV) are increasingly being accepted as insufficient to capture the managerial flexibility needed to deal with this complex environment. As a result, a powerful alternative investment framework, Real Options Analysis (ROA), has been proposed, in which the possibility of strategic adaptability under uncertainty is valued explicitly for renewable energy investment. This paper reports a systematic review between 2000-2025 of research works on ROA application in the renewable energy sector. Using the Preferred Reporting Items for Systematic Reviews and Meta-Analysis (PRISMA) framework, 288 peer-reviewed studies were identified from twelve major academic databases (Scopus, IEEE Xplore, and Wiley Online Library). Each study was reviewed in terms of key dimensions: renewable technology type, real option category, modelling technique, dominant sources of uncertainty and geographical focus. The results show the dominance of the decision to defer (timing option) as the most important strategic flexibility for all technologies, emphasising the key problem of optimal investment timing. Methodologically, the field has transitioned from basic analytical models to complex simulation-based models, with binomial lattices and Monte Carlo models dominating the scene, followed by a significant move to hybrid, fuzzy, and AI-enhanced models after 2015. The analysis also reveals clear regional patterns in the types of uncertainties modelled with European studies focusing on market and policy risks, Asian studies on resource availability and work in the Americas taking into account technical risks. However, a serious underrepresentation in Africa, especially in Nigeria, is also revealed, which constitutes a major gap in the research. This review concludes that while the methodological foundations of ROA are well established, its practical application remains limited, particularly outside developed countries. Expanding the use of ROA could better support the global energy transition, but achieving this requires addressing barriers such as computational complexity, limited modeling expertise, and regulatory reliance on deterministic valuation methods. Greater integration of these flexible decision-making tools into policy design and project appraisal, especially in high-risk and underrepresented regions, is therefore necessary.