A Framework for the Evaluation of Investments in Clean Power-Technologies

Lorenzo, Giuseppina Di; Pilidis, Pericles; Witton, John; Probert, Douglas

doi:10.1016/b978-0-444-59519-5.50099-x

Cited by 7 publications

(3 citation statements)

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“…The economic analyses for the Jatropha biodiesel-fired plants were conducted in comparison with the natural gas-and conventional diesel-fired plants using economic parameters [50,[52][53] Net Present Value (NPV) defines the economic viability of a project as it examines the revenues and costs over a discounted time [50]. NPV was calculated using equations 1, assuming an annual real discount rate equal to the project's…”

Section: Economic Analysismentioning

confidence: 99%

Prospects of deployment of Jatropha biodiesel-fired plants in Nigeria’s power sector

Somorin

2017

Energy

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This version is available at https://strathprints.strath.ac.uk/65069/ Strathprints is designed to allow users to access the research output of the University of Strathclyde. Unless otherwise explicitly stated on the manuscript, Copyright © and Moral Rights for the papers on this site are retained by the individual authors and/or other copyright owners. Please check the manuscript for details of any other licences that may have been applied. You may not engage in further distribution of the material for any profitmaking activities or any commercial gain. You may freely distribute both the url (https://strathprints.strath.ac.uk/) and the content of this paper for research or private study, educational, or not-for-profit purposes without prior permission or charge.Any correspondence concerning this service should be sent to the Strathprints administrator: strathprints@strath.ac.ukThe Strathprints institutional repository (https://strathprints.strath.ac.uk) is a digital archive of University of Strathclyde research outputs. It has been developed to disseminate open access research outputs, expose data about those outputs, and enable the management and persistent access to Strathclyde's intellectual output. Accepted ManuscriptProspects This is a PDF file of an unedited manuscript that has been accepted for publication. As a service to our customers we are providing this early version of the manuscript. The manuscript will undergo copyediting, typesetting, and review of the resulting proof before it is published in its final form. Please note that during the production process errors may be discovered which could affect the content, and all legal disclaimers that apply to the journal pertain. Energy, Vol. 135, 15 September 2017, pp. 726-739 DOI:10.1016/j.energy.2017 Published 3 with natural gas-and diesel-fired plants. Jatropha biodiesel can be substituted for natural gas in industrial gas turbines at 4 a slight loss in power output of ~2% and plant efficiency of ~1%. The exclusive use of the fuel in heavy duty industrial 5 gas turbines is not economically viable at existing electricity generation prices in Nigeria, except fuels are restricted to 6 combined cycle engines and considered as biomass power plants. The Levelized Cost of Electricity (LCOE) of the 7 Jatropha biodiesel-fired plants varied from $0.203-0.252/kWh, values that are below the cost of self-generated electricity 8 (SGE) in Nigeria -$0.45-0.70/kWh. To integrate Jatropha biodiesel into existing power plants, a minimum production-9 based incentive (PBI) of $0.052-0.082/kWh can be provided for up to nine years or maximum partial fuel substitution 10 (PFS) of 33-40% can be mandated, depending on the mode of operation. A guaranteed fuel price of $0.18-5/gallon can 11 be ensured, depending on electricity contract price. A carbon tax up to $100/tCO 2 can also be imposed on natural gas-12 fired plants, but this does not ensure economic viability. The high cost of SGE in Nigeria uncovers an opportunity for 13 embedded power generation. ACCEPTED MANUSCRIPT14 ...

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Section: Economic Analysismentioning

confidence: 99%

Prospects of deployment of Jatropha biodiesel-fired plants in Nigeria’s power sector

Somorin

2017

Energy

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“…This is being developed by Cranfield University for (and in collaboration with) major players of the energy sector to facilitate the choice of the optimal investment in 'clean' power technologies [38]. approach.…”

Section: The Engineering-economic Modelmentioning

confidence: 99%

“…The economic analysis has been carried out using an upgraded version of the Economic Module of the T.E.R.A. framework [38,43]. Written in Fortran 90 language, the model consists of two sub-models: the economic model and the financial-risk model.…”

Section: Economic Modelmentioning

confidence: 99%

Pre-combustion carbon-capture technologies for power generation: an engineering-economic assessment

Lorenzo

Barbera

Ruggieri

et al. 2013

Int. J. Energy Res.

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SUMMARY An engineering‐economic analysis of the behaviours of each of two pre‐combustion gas‐turbine combined cycles with CO2 capture (an Integrated Gasification Combined Cycle (IGCC) and an Integrated Reforming Combined Cycle (IRCC)) is described. Their economic performances have been evaluated in terms of the break‐even electricity selling price. The results show that the proposed pre‐combustion power plant efficiency values (37% and 43.7% for the IGCC and the IRCC respectively) are significantly lower compared to a conventional plant value (55.3%). The CO2 emissions of the latter are less than half those of the conventional plant. Introducing an hypothetical carbon tax equal to 50£/tCO2, the break‐even selling price (BESP) for the proposed IGCC and IRCC plants is 4.40 p/kWh and 4.10 p/kWh respectively, while for the conventional plant amounts to 4.73 p/kWh. A sensitivity analysis has been carried out by varying the most influential investment parameters. The analysis has revealed that, considering the uncertainties associated with these key parameters, a substantial risk that the BESP could exceed the first value obtained is so prominent in some cases to alter their ranking order with respect to the most competitive technology. The final part of the analysis is a Monte‐Carlo simulation to determine the impact of simultaneous variations of all the variables, subject to uncertainty, on the break‐even selling unit price for the generated electricity. From the simulation, it derives that the BESP value ranges from 3.13 p/kWh to over 6.00 p/kWh for the IGCC case with a 50% probability of exceeding the first value obtained (4.40 p/kWh). In the IRCC case, the range of possible value for the BESP is from 2.85 p/kWh to 6.10 p/kWh, and there is a 60% probability that the actual BESP would exceed the first value obtained (4.10 p/kWh). Copyright © 2013 John Wiley & Sons, Ltd.

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Probabilistic Performance Evaluation of Small-Scale Organic Rankine Cycle Power Plants for Waste Heat Recovery

Lorenzo

Giovannelli

2020

Computer Aided Chemical Engineering

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A Framework for the Evaluation of Investments in Clean Power-Technologies

Cited by 7 publications

References 1 publication

Prospects of deployment of Jatropha biodiesel-fired plants in Nigeria’s power sector

Prospects of deployment of Jatropha biodiesel-fired plants in Nigeria’s power sector

Pre-combustion carbon-capture technologies for power generation: an engineering-economic assessment

Probabilistic Performance Evaluation of Small-Scale Organic Rankine Cycle Power Plants for Waste Heat Recovery

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