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We investigated the techno-economic analysis of two integrated torrefaction and pelletization systems: (1) Torrefaction befOre Pelletization and (2) Torrefaction After Pelletization configurations to produce torrefied wood pellets. The detailed mass and energy balances and operating parameters were obtained from the process simulation model developed with the base case plant capacity of 100,000 Mg yr−1 using natural gas as an auxiliary fuel source. A discounted cash flow analysis was conducted for both configurations to estimate the capital expenditure, operating expenses, production cost, and the minimum selling price of torrefied pellets. The minimum selling price of torrefied pellets at the plant gate was $207 Mg−1 ($8.5 GJ−1) for the Torrefaction before Pelletization and $197 Mg−1 ($8.1 GJ−1) for the Torrefaction After Pelletization configurations. An increase in the plant capacity of up to 200,000 Mg yr−1 for both configurations decreased the minimum selling price by 10%. The sensitivity analysis of various operational and financial parameters demonstrated that the feedstock cost and torrefaction product yield were the most sensitive parameters influencing the minimum selling price of torrefied pellets. Future opportunities exist to reduce the minimum selling price of torrefied pellets to become competitive to conventional wood pellets and coal. [Display omitted] [ABSTRACT FROM AUTHOR]

A techno-economic analysis (TEA) was conducted to evaluate the economic profitability and feasibility for a H 2 energy storage system using an alkaline and a polymer electrolyte membrane water electrolysis for 1 MW water electrolysis operation. Many economic analysis methods such as itemized cost estimation, profitability analysis using a cumulative cash flow diagram, and uncertainty analysis employing a Monte-Carlo simulation method were utilized to perform a TEA. In particular, a renewable energy certificate (REC) was considered as an additional benefit of a renewable energy use. From itemized cost estimation, respective levelized costs of H 2 of 7.21 and 9.19 $ kgH 2 −1 were obtained for both H 2 energy storage systems in an alkaline and a polymer electrolyte membrane water electrolysis by considering current economy situation and therefore it is still difficult to be cost-competitive compared to a commercial H 2 production cost. From profitability and uncertainty analysis results, an appropriate REC weight was confirmed in terms of discounted profitability criteria like a discounted payback period, a net present value, a present value ratio, and a discounted cash flow rate of return. In addition, a REC weight was affected on a net present value compared to a REC trading cost fluctuation. • Techno-economic analysis was conducted for a H 2 energy storage system. • Respective LCOHs of 7.21 and 9.19 $ kgH 2 −1 were obtained for HESSs in an AWE and a PWE. • An appropriate REC weight was identified based on discounted profitability criteria. • A REC weight has more impact on a NPV than a REC trading price fluctuation. [ABSTRACT FROM AUTHOR]

This paper defines the roles of biomethane for a double-green transition, through the integration of an effective management of renewable energy and municipal waste. The authors perform an assessment of the potential transition of the municipality of Rome to a more sustainable transport system, based on the economic feasibility of production of biomethane as analysed with the Discounted Cash Flow methodology. The potential reduction of emissions is quantified considering biomethane, to be used as vehicle fuel instead of natural gas. The provision of subsidies is found to be an essential condition to support the development of the biomethane sector. The subsidies must be coordinated with other policies such as the construction and operation of new fuelling stations and the increase of vehicles fuelled by biomethane. Several economic indicators are used to support investors by defining the conditions in which the profitability and economic opportunities are quantified. The transformation of bio-wastes into clean energy, closes the loop and helps societies to make progress toward becoming circular economies, which can contribute to decarbonizing the transport sector. Results of these analyses are applicable in other municipalities, which are currently under-utilizing their organic wastes and by-products. Image 1 • Biomethane supports the development of CE models. • Biomethane can contribute to a double green transition.. • A total NPV varies from 4.6 million € to 63.3 million €. • Do Nothing cost varies from 365 thousand € to 2872 thousand €. • The decrease of GHG emissions ranges from 43 to 51 thousand ton CO2eq/year. [ABSTRACT FROM AUTHOR]

We report a strategy for production of 5-nonanone which is a bio-based platform chemical that can be produced in large quantity from a variety of lignocellulosic biomass sources. In this strategy, the cellulose and hemicellulose fractions of lignocellulosic biomass are catalytically converted to γ -valerolactone (GVL) using the biomass derived GVL as a solvent. To generate the integrated strategy, we develop separation subsystems to achieve high purity of product. Importantly, GVL can be upgraded to 5-nonanone with high yield in a single reactor using a dual catalyst bed of Pd/Nb 2 O 5 plus ceria-zirconia. We design a heat exchanger network to satisfy the total energy requirements of the integrated process via combusting lignin fraction of biomass. Economic feasibility of the process is investigated using discounted cash flow analysis. • Cellulose and hemicellulose are catalytically converted to γ -valerolactone (GVL). • GVL is catalytically upgraded to 5-nonanone without formation of pentanoic acid. • Lignin fraction of lignocellulosic biomass is used to generate heat and power. • Discounted cash flow analysis is used to determine the minimum selling price (MSP). • Sensitivity analysis is conducted for key economic and process parameters. [ABSTRACT FROM AUTHOR]

Irrefutably, energy transition has recently gathered momentum thanks to the Paris Agreement and renewable energy (RE) falling costs. However, unlocking the full socio-economic potential of energy transition requires encouraging Foreign Direct Investment (FDI) in developing countries where energy demand and the risk of stranded assets are growing. Encouraging FDI in developing countries necessitates addressing two highly controversial issues: measuring political risk and carrying out proper valuation of long-term RE investments. In this regard, current paper investigates the rationale behind classic risk-adjusted discount rate (RADR) approach. It finds that since RADR requires heuristics, it may lead to misrepresentation of real worth of RE projects in developing countries. Addressing this issue, the paper offers a hybrid method based on risk pricing which can incorporate political risk into valuation straightforwardly. The hybrid method is applied to a photovoltaic case in Iran. Surprisingly, while the analysis based on classic RADR approach indicates that the investment is not financially viable, the hybrid analysis demonstrates attractive return on the investment. This can contribute to unlocking a considerable annual amount of 270 TWh solar power in Iran. The empirical study also shows that the suitable rate to discount RE investments in Iran is 10.22%. • Foreign Direct Investment can create a game-changing shift in energy market. • Risks should be reflected in cash flow instead of discount rate. • Sovereign spread is not a good proxy for political risk. • An alternative approach to value renewable energy investments is proposed. • The method can unlock investment in renewables in developing counties. [ABSTRACT FROM AUTHOR]

This paper describes the overall discounted cash flow (DCF) analysis of two greenhouse-type solar kilns (Oxford and Boral) for hardwood drying processes. The financial performance of both the kilns was found to be mainly dominated by the costs/benefits associated with the model-predicted future thermal energy flows. All the costs and benefits were calculated based on the current energy prices, while adjusting all future cash flows (either costs or benefits) to their respective present values by incorporating appropriate inflation and discount rates. The overall results indicated that the net present cash benefit and the present drying energy benefit were larger for the Oxford kiln than those for the Boral kiln, by approximately 38% and 16%, respectively, while the present energy-loss cost was smaller for the Oxford kiln by 23% than that for the Boral kiln. A sensitivity analysis was carried out in order to assess the robustness of the results against the uncertain parameters. In general, the Oxford kiln design was found to be more cost-effective and environmentally beneficial than the Boral kiln design for hardwood drying. [ABSTRACT FROM AUTHOR]