The Cost-Benefit Analysis of Investment in Waste to Energy Power Plant for Four-Provincial in Isan Area of Thailand

International Journal of Electrical and Electronics Engineering

© 2024 by SSRG - IJEEE Journal

Volume 11 Issue 11

Year of Publication : 2024

Authors : Ariya Malai, Worawat Sa-ngiamvibool

10.14445/23488379/IJEEE-V11I11P119

How to Cite?

Ariya Malai, Worawat Sa-ngiamvibool, "The Cost-Benefit Analysis of Investment in Waste to Energy Power Plant for Four-Provincial in Isan Area of Thailand," SSRG International Journal of Electrical and Electronics Engineering, vol. 11,  no. 11, pp. 182-187, 2024. Crossref, https://doi.org/10.14445/23488379/IJEEE-V11I11P119

Abstract:

Feasibility study of constructing a Waste-To-Energy (WTE) power plant using incineration in the Four-Provincial in the Isan Area of Thailand for investment decision-making and to address the current waste problem. This research analyzes the economic feasibility and evaluates carbon emissions, which are factors impacting the environment. The Four-Provincial in the Isan Area of Thailand generates an average total of 3,037 tons of waste per day, making it suitable for constructing six waste-to-energy incineration power plants with a capacity of 9.75 MW each. Each plant can handle 500 tons of waste per day, with 7,200 hours of electricity production per year and a project duration of 20 years. The economic feasibility analysis results show that Net Present Value (NPV) is 2,392,360,485.35 baht, the Internal Rate of Return or IRR is 7.58%, and Recuperation duration is 6.81 years, under the condition that Thailand government currently has measures to promote the purchase of electricity from renewable energy by buying electricity at a price 0.7 baht per unit higher during the first 8 years The greenhouse gas emissions analysis of waste disposal, comparing the emissions between landfill disposal and waste-to-energy conversion, based on the emission factor from the Thailand Greenhouse Gas Management Organization, found that waste-to-energy disposal releases 899,643.269 tons of CO2 equivalent per year than landfill disposal.

Keywords:

Power plant, Greenhouse gas emissions, Four-Provincial in Isan Area, Thailand, Waste to energy, Waste management.

References:

[1] Energy Policy and Planinig Office, Ministry of Energy, Thailand, Energy Situation (Quarterly) First Half of 2023, pp. 1-5, 2023. [Online]. Available: https://www.eppo.go.th/index.php/th/energy-information/static-energy/static-electricity
[2] Pollution Control Department, Ministry of Natural Resources and Environment, Thailand, Report on the Waste Disposal Situation in Thailand for the Year 2022, pp. 1-17, 2023. [Online]. Available: https://www.pcd.go.th/wp-content/uploads/2024/05/pcdnew-2024-05-09_07-53-50_682275.pdf
[3] Pollution Control Department, Ministry of Natural Resources and Environment, Thailand, Master Plan for National Waste Management (2016 – 2021), pp. 7-17, 2016. [Online]. Available: https://www.oag.go.th/sites/default/files/files/article/9
[4] Environmental Office Region 12 (Ubon Ratchathani), Ministry of Natural Resources and Environment, Thailand, Sanitary Waste Management System in the Area, pp. 2-9, 2019. [Online]. Available: https://epo12.pcd.go.th/
[5] Environmental Office Region 12 (Ubon Ratchathani), Ministry of Natural Resources and Environment, Thailand, Environmental Quality Management Plan 2019-2021, Lower Northeastern Provinces Group 2 (Yasothon, Sisaket, Amnat Charoen and Ubon Ratchathani), pp. 4-11, 2019. [Online]. Available: https://epo12.pcd.go.th/th/news/detail/14141
[6] Environmental Office Region 12 (Ubon Ratchathani), Ministry of Natural Resources and Environment, Thailand, Case Study Report on Waste Composition at Waste Disposal Sites for the Year 2022, pp. 29-54, 2022. [Online]. Available: https://www.pcd.go.th/wp-content/uploads/2022/08/pcdnew-2022-08-09_08-58-28_103322.pdf
[7] Environmental Office Region 12 (Ubon Ratchathani), Ministry of Natural Resources and Environment, Thailand, Case Study Report on Waste Composition for Local Government Organizations, pp.5-72, 2021. [Online]. Available: https://epo12.pcd.go.th/th/information/
[8] King Prajadhipok’s Institute, Background of the Region. [Online]. Available: http://wiki.kpi.ac.th/
[9] Department of Alternative Energy Development and Efficiency, Ministry of Energy, Thailand, Guide to Development and Investment in Renewable Energy, Series 6, pp. 7-54, 2011. [Online]. Available: https://new2.energy.go.th/th/interested/29213
[10] Department of Alternative Energy Development and Efficiency, Ministry of Energy, Thailand, Final Report on the Study and Preparation of Data for Investment in Renewable Energy and Energy Conservation, pp. 137-186, 2016.
[11] Boramat Tangwiwat, “Benefit and Cost Analysis of Solar Rooftop Generation System with Battery,” Thesis, Department of Electrical Engineering, Chulalongkorn University, 2017.
[Google Scholar] [Publisher Link]
[12] Korakom Saranrom, and Witthaya Yongcharoen, “A Case Study of a Waste Processing Plant Fuel Establishment in Nonthaburi Municipality, Nonthaburi Province,” Journal of Energy Research, vol. 12, no. 2, pp. 36-46, 2015.
[Google Scholar] [Publisher Link]
[13] Duangta Sararom, “Evaluating the Value of Investment in Solid Waste Power Plant Project a Case Study in Nonthaburi Municipality,” Journal of Graduate Studies Valaya Alongkorn Rajabhat University, vol. 11, no. 2, pp. 203-2015, 2017.
[Google Scholar] [Publisher Link]
[14] Nakorn Inthapong, and Angsana Pojsiri, “Study of the Cost and Benefits of Rooftop Solar Power Generation Projects in Small Business Buildings,” Thesis, Faculty of Logistics, Burapha University, 2016.
[Google Scholar] [Publisher Link]
[15] Saharat Sangiamwibun, “The Cost-Benefit Analysis of Investment in Solid-Waste power-Plant Project for Yasothon Municipality,” Thesis, The Faculty of Engineering, Mahasarakham University, 2021.
[Publisher Link]
[16] C.S. Psomopoulos, A. Bourka, and N.J. Themelis, “Waste-to-Energy: A Review of the Status and Benefits in USA,” Waste Management, vol. 29, no. 5, pp. 1718-1724, 2009.
[CrossRef] [Google Scholar] [Publisher Link]
[17] Thailand Greenhouse Gas Management Organization, Emission Factor CFP, 2021. [Online]. Available: https://thaicarbonlabel.tgo.or.th/index.php?lang=TH&mod=Y0hKdlpIVmpkSE5mWlcxcGMzTnBiMjQ9
[18] Department of Provincial Administration, Ministry of Interior, Thailand, Official Population Statistics from Civil Registration, 2024. [Online]. Available: https://stat.bora.dopa.go.th/stat/statnew/statMONTH/statmonth/#/mainpage
[19] Energy Policy and Planinig Office, Ministry of Energy, Thailand, Feed-in Tariff Policy for Purchasing Electricity, 2015. [Online]. Available: https://www.erc.or.th/th/power-purchasing3/2697
[20] Absolute Clean Energy Public Company Limited, MSW Krabi Power Plant, 2020. [Online]. Available: https://www.ace-energy.co.th/en/our-business/projects/msw-power-plant-projects/270/msw-krabi-power-plant