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ID:
121359
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| Publication |
2013.
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| Summary/Abstract |
This analysis identifies the sensitivity of the fast pyrolysis and hydroprocessing pathway to facility location. The economic feasibility of a 2000 metric ton per day fast pyrolysis and hydroprocessing biorefinery is quantified based on 30 different state-specific facility locations within the United States. We calculate the 20-year internal rate of return (IRR) and net present value (NPV) for each location scenario as a function of state- and region-specific factors. This analysis demonstrates that biorefinery IRR and NPV are very sensitive to bio-oil yield, feedstock cost, location capital cost factor, and transportation fuel market value. The IRRs and NPVs generated for each scenario vary widely as a result, ranging from a low of 7.4% and -$79.5 million in Illinois to a high of 17.2% and $165.5 million in Georgia. The results indicate that the economic feasibility of the fast pyrolysis and hydroprocessing pathway is strongly influenced by facility location within the United States. This result could have important implications for cellulosic biofuel commercialization under the revised Renewable Fuel Standard.
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| 2 |
ID:
110735
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2011.
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| Summary/Abstract |
Combined heat and power (CHP) plants dominate the heating market in China. With the ongoing energy structure reformation and increasing environmental concerns, we propose gas-fired boilers to be deployed in underperforming heating substations of heating networks for peak load compensation, in order to improve both energy efficiency and environmental sustainability. However, due to the relatively high price of gas, techno-economic analysis is required for evaluating different combined heating scenarios, characterized by basic heat load ratio (ß). Therefore, we employ the dynamic economics and annual cost method to develop a techno-economic model for computing the net heating cost of the system, considering the current state of the art of cogeneration systems in China. The net heating cost is defined as the investment costs and operations costs of the system subtracted by revenues from power generation. We demonstrate the model in a real-life combined heating system of Daqing, China. The results show that the minimum net heating cost can be realized at ß=0.75 with a cost reduction of 16.8% compared to coal heating alone. Since fuel cost is the dominating factor, sensitivity analyses on coal and gas prices are discussed subsequently.
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