Análise econômica do plantio e condução do eucalipto de curta rotação para fins energéticos

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Recuperação da palha da cana-de-açúcar para a produção de energia elétrica e etanol celulósico

Pós-graduação em Engenharia Mecânica - FEIS

Análise econômica e de investimento da cultura do pinhão manso (Jatropha curcas L.)

Pós-graduação em Agronomia - FEIS

Viabilidade financeira da implantação do projeto de construção da estação de tratamento de esgotos - ETE - do Município de Lençóis Paulista - Estado de São Paulo

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Viabilidade econômica da venda de energia elétrica em cogeração sob condições de risco: um estudo de caso

The availability of the electrical energy, in sufficient quantities and in competitive prices is a crucial factor to the economic development. The trade-in of the excess electrical energy produced in a system of cogeneration can be seen as an alternative to the creation of an additional source of revenues for ethanol power plants sector, besides contributing to the complementation of the Brazilian electrical headquarter with renewable sources. The objective of this study was to evaluate the economic feasibility of the implementation of a cogeneration electrical central using the excess of sugar cane bagasse and selling the excess of electrical energy with prices of the market. An ethanol power plant located in the state of Sao Paulo was used to this study. It was used the case study methodology, evaluating the potential of the investment under the viewpoint of the Net Present Value (NPV), Payback and Internal Rate of Return (IRR), and complementing the results of the Accounting Results (AC). It was created three alternative scenarios to reflect the level of the risk of every studied situation: the most likely, an optimistic and a pessimistic, each one with its assumptions. The Monte Carlo Simulations was used to insert the elements of risk to each scenario. The results showed that the project is feasible in all NPV scenarios. And the Payback and IRR analysis confirmed these evidences. The valuation with the AR showed that the project is most risky at the pessimistic scenario, but is feasibly in the most likely and the optimistic scenarios. It was concluded that the project is economic viable. However, the economic viability shown in the results is based on the maintenance of the future prices on the levels of the historical prices used in the analysis.

Avaliação técnica e econômica de um biodigestor de fluxo tubular: estudo de caso do modelo implantado na etec "orlando quagliato" em Santa Cruz do Rio Pardo, SP

Pós-graduação em Agronomia (Energia na Agricultura) - FCA

Avaliação técnico-econômica da produção de enzimas celulolíticas por fermentação em estado sólido

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Evaluation Method for Strategic Investments

Real Options Analysis (ROA) has become a complimentary tool for engineering economics. It has become popular due to the limitations of conventional engineering valuation methods; specifically, the assumptions of uncertainty. Industry is seeking to quantify the value of engineering investments with uncertainty. One problem with conventional tools are that they may assume that cash flows are certain, therefore minimizing the possibility of the uncertainty of future values. Real options analysis provides a solution to this problem, but has been used sparingly by practitioners. This paper seeks to provide a new model, referred to as the Beta Distribution Real Options Pricing Model (BDROP), which addresses these limitations and can be easily used by practitioners. The positive attributes of this new model include unconstrained market assumptions, robust representation of the underlying asset‟s uncertainty, and an uncomplicated methodology. This research demonstrates the use of the model to evaluate the use of automation for inventory control.

Avaliação técnico-econômica da produção de enzimas celulolíticas por fermentação em estado sólido

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Le scelte di investimento delle aziende agricole e la PAC post-2013: valutazione di scenari mediante un modello real options

Negli ultimi decenni la Politica Agricola Comune (PAC) è stata sottoposta a diverse revisioni, più o meno programmate, che ne hanno modificato gli obiettivi operativi e gli strumenti per perseguirli. In letteratura economica agraria sono state eseguite diverse ricerche che affrontano analisi ex-ante sui possibili impatti delle riforme politiche, in particolare al disaccoppiamento, riguardo all’allocazione dei terreni alle diverse colture e all’adozione di tecniche di coltivazione più efficienti. Ma tale argomento, nonostante sia di grande importanza, non è stato finora affrontato come altri temi del mondo agricolo. Le principali lacune si riscontrano infatti nella carenza di analisi ex-ante, di modelli che includano le preferenze e le aspettative degli agricoltori. Questo studio valuta le scelte di investimento in terreno di un’azienda agricola di fronte a possibili scenari PAC post-2013, in condizioni di incertezza circa le specifiche condizioni in cui ciascuno scenario verrebbe a verificarsi. L’obiettivo è di ottenere indicazioni utili in termini di comprensione delle scelte di investimento dell’agricoltore in presenza di incertezza sul futuro. L’elemento maggiormente innovativo della ricerca consiste nell’applicazione di un approccio real options e nell’interazione tra la presenza di diversi scenari sul futuro del settore agricolo post-2013, e la componente di incertezza che incide e gravita su di essi. La metodologia adottata nel seguente lavoro si basa sulla modellizzazione di un’azienda agricola, in cui viene simulato il comportamento dell’azienda agricola in reazione alle riforme della PAC e alla variazione dei prezzi dei prodotti in presenza di incertezza. Mediante un modello di Real Option viene valutata la scelta della tempistica ottimale per investire nell’acquisto di terreno (caratterizzato da incertezza e irreversibilità). Dai risultati emerge come in presenza di incertezza all’agricoltore convenga rimandare la decisione a dopo il 2013 e in base alle maggiori informazioni disponibili eseguire l’investimento solo in presenza di condizioni favorevoli. La variazione dei prezzi dei prodotti influenza le scelte più dell’incertezza dei contributi PAC. Il Real Option sembra interpretare meglio il comportamento dell’agricoltore rispetto all’approccio classico del Net Present Value.

Carbon sequestration in Himalaya's alpine meadows: Mitigating cropping encroachment on pastures in Northern Pakistan

Rangelands store about 30% of the world’s carbon and support over 120 million pastoralists globally. Adjusting the management of remote alpine pastures bears a substantial climate change mitigation potential that can provide livelihood support for marginalized pastoralists through carbon payment. Landless pastoralists in Northern Pakistan seek higher income by cropping potatoes and peas over alpine pastures. However, tilling steep slopes without terracing exposes soil to erosion. Moreover, yields decline rapidly requiring increasing fertilizer inputs. Under these conditions, carbon payment could be a feasible option to compensate pastoralists for renouncing hazardous cropping while favoring pastoral activities. The study quantifies and compares C on cropped and grazed land. The hypothesis was that cropping on alpine pastures reduces former carbon storage. The study area located in the Naran valley of the Pakistani Himalayas receives an annual average of 819 mm of rain and 764 mm of snow. Average temperatures remain below 0°C from November to March while frost may occur all year round. A total of 72 soil core samples were collected discriminating land use (cropping, pasture), aspect (North, South), elevation (low 3000, middle 3100, and high 3200 m a.s.l.), and soil depth (shallow 0-10, deep 10-30 cm). Thirty six biomass samples were collected over the same independent variables (except for soil depth) using a 10x10x20 cm steal box inserted in the ground for each sample. Aboveground biomass and coarse roots were separated from the soil aggregate and oven-dried. Soil organic carbon (SOC) and biomass carbon (BC) were estimated through a potassium dichromate oxidation treatment. The samples were collected during the second week of October 2010 at the end of the grazing and cropping season and before the first snowfall. The data was statistically analyzed by means of a one-way analysis of variance. Results show that all variables taken separately have a significant effect on mean SOC [%]: crop/pasture 1.33/1.6, North/South 1.61/1.32, low/middle/high 1.09/1.62/1.68, shallow/deep 1.4/1.53. However, for BC, only land use has a significant effect with more than twice the amount of carbon in pastures [g m-2]: crop/pasture 127/318. These preliminary findings suggest that preventing the conversion of pastures into cropping fields in the Naran valley avoids an average loss of 12.2 t C ha-1 or 44.8 t CO2eq ha-1 representing a foreseeable compensation of 672 € ha-1 for the Naran landless pastoralists who would renounce cropping. The ongoing study shall provide a complete picture for carbon payment integrating key aspects such as the rate of cropping encroachment over pastures per year, the methane leakage from the system due to livestock enteric fermentation, the expected cropping income vs. livestock income and the transaction costs of implementing the mitigation project, certifying it, and verifying carbon credits. A net present value over an infinite time horizon for the mitigation scenario shall be estimated on an iterative simulation to consider weather and price uncertainties. The study will also provide an estimate of the minimum price of carbon at which pastoralists would consider engaging in the mitigation activity.

Methodik zur Bewertung von Effizienzgewinnen durch erhöhte Flexibilität selbstorganisierter Systeme in der Intralogistik

Der steigenden Dynamik und Komplexität von Materialflusssystemen kann durch die Einführung selbstorganisierter Systeme – dem Internet der Dinge in der Intralogistik – begegnet werden. Diese versprechen insbesondere durch eine erhöhte Flexibilität deutliche Effizienzgewinne über den Lebenszyklus. Der vorliegende Artikel schlägt eine Methodik zur Bewertung der erhöhten Flexibilität vor, illustriert diese anhand eines einfachen Beispiels und zeigt weiteren Forschungsbedarf auf. Die vorgeschlagene Methodik beruht auf einer Betrachtung der durch Flexibilität beeinflussten Auszahlungen im Lebenszyklus mit Hilfe einer dynamischen Optimierung.

Evaluation of Wet Distillers Grains in Finishing Diets for Yearling Steers

A feeding trial was conducted with 940-lb yearling steers fed 113 days to determine the feeding value of distillers grains relative to corn grain. Replacing corn and urea with wet distillers grains for 20% of the diet dry matter tended to increase gain with no increase in feed consumption, resulting in improved feed conversion. Replacing 40% of diet dry matter with wet distillers grains decreased feed intake without affecting gains, and improved feed efficiency. The overall average estimated net energy value of wet distillers grains was 1.20 Mcal NEg per pound dry matter. This experiment confirmed the observations in previous cattle feeding experiments, that for finishing cattle wet distillers grains have a high energy value compared with cracked corn grain. Another objective of the study was to determine if cattle being fed wet distillers grains could be suddenly changed to a different diet if the supply of wet feed was suddenly disrupted. It was found that if intake is managed during the change, that distillers grains portion of the diet can be suddenly changed from wet to dry and then changed back to wet after a week, without sacrificing performance of the cattle.

Economic efficiency analysis of different strategies to control post-weaning multi-systemic wasting syndrome and porcine circovirus type 2 subclinical infection in 3-weekly batch system farms.

The study assessed the economic efficiency of different strategies for the control of post-weaning multi-systemic wasting syndrome (PMWS) and porcine circovirus type 2 subclinical infection (PCV2SI), which have a major economic impact on the pig farming industry worldwide. The control strategies investigated consisted on the combination of up to 5 different control measures. The control measures considered were: (1) PCV2 vaccination of piglets (vac); (2) ensuring age adjusted diet for growers (diets); (3) reduction of stocking density (stock); (4) improvement of biosecurity measures (bios); and (5) total depopulation and repopulation of the farm for the elimination of other major pathogens (DPRP). A model was developed to simulate 5 years production of a pig farm with a 3-weekly batch system and with 100 sows. A PMWS/PCV2SI disease and economic model, based on PMWS severity scores, was linked to the production model in order to assess disease losses. This PMWS severity scores depends on the combination post-weaning mortality, PMWS morbidity in younger pigs and proportion of PCV2 infected pigs observed on farms. The economic analysis investigated eleven different farm scenarios, depending on the number of risk factors present before the intervention. For each strategy, an investment appraisal assessed the extra costs and benefits of reducing a given PMWS severity score to the average score of a slightly affected farm. The net present value obtained for each strategy was then multiplied by the corresponding probability of success to obtain an expected value. A stochastic simulation was performed to account for uncertainty and variability. For moderately affected farms PCV2 vaccination alone was the most cost-efficient strategy, but for highly affected farms it was either PCV2 vaccination alone or in combination with biosecurity measures, with the marginal profitability between 'vac' and 'vac+bios' being small. Other strategies such as 'diets', 'vac+diets' and 'bios+diets' were frequently identified as the second or third best strategy. The mean expected values of the best strategy for a moderately and a highly affected farm were £14,739 and £57,648 after 5 years, respectively. This is the first study to compare economic efficiency of control strategies for PMWS and PCV2SI. The results demonstrate the economic value of PCV2 vaccination, and highlight that on highly affected farms biosecurity measures are required to achieve optimal profitability. The model developed has potential as a farm-level decision support tool for the control of this economically important syndrome.

Production of Ethanol from Hardwood

Diminishing crude oil and natural gas supplies, along with concern about greenhouse gas are major driving forces in the search for efficient renewable energy sources. The conversion of lignocellulosic biomass to energy and useful chemicals is a component of the solution. Ethanol is most commonly produced by enzymatic hydrolysis of complex carbohydrates to simple sugars followed by fermentation using yeast. C6Hl0O5 + H2O −Enxymes→ C6H12O6 −Yeast→ 2CH3CH2OH + 2C02 In the U.S. corn is the primary starting raw material for commercial ethanol production. However, there is insufficient corn available to meet the future demand for ethanol as a gasoline additive. Consequently a variety of processes are being developed for producing ethanol from biomass; among which is the NREL process for the production of ethanol from white hardwood. The objective of the thesis reported here was to perform a technical economic analysis of the hardwood to ethanol process. In this analysis a Greenfield plant was compared to co-locating the ethanol plant adjacent to a Kraft pulp mill. The advantage of the latter case is that facilities can be shared jointly for ethanol production and for the production of pulp. Preliminary process designs were performed for three cases; a base case size of 2205 dry tons/day of hardwood (52 million gallons of ethanol per year) as well as the two cases of half and double this size. The thermal efficiency of the NREL process was estimated to be approximately 36%; that is about 36% of the thermal energy in the wood is retained in the product ethanol and by-product electrical energy. The discounted cash flow rate of return on investment and the net present value methods of evaluating process alternatives were used to evaluate the economic feasibility of the NREL process. The minimum acceptable discounted cash flow rate of return after taxes was assumed to be 10%. In all of the process alternatives investigated, the dominant cost factors are the capital recovery charges and the cost of wood. The Greenfield NREL process is not economically viable with the cost of producing ethanol varying from $2.58 to $2.08/gallon for the half capacity and double capacity cases respectively. The co-location cases appear more promising due to reductions in capital costs. The most profitable co-location case resulted in a discounted cash flow rate of return improving from 8.5% for the half capacity case to 20.3% for the double capacity case. Due to economy of scale, the investments become more and more profitable as the size of the plant increases. This concept is limited by the amount of wood that can be delivered to the plant on a sustainable basis as well as the demand for ethanol within a reasonable distance of the plant.