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primary topic: Carbon credit and economic feasibility analysis of biomass-solar PV-battery power plant for application in Indonesia remote area

Carbon credit and economic feasibility analysis of biomass-solar PV-battery power plant for application in Indonesia remote area
type: AcademicArticle
type: Article
abstract: The trend in the utilization of renewable energy is increasing worldwide, including in Indonesia. However, as an archipelago country, Indonesia is experiencing challenges in empowering its remote areas with green electricity. This study assesses economically the idea of a hybrid power plant of solar and/or biomass to alleviate remote areas electrification in Indonesia. The project is proposed in Sakti, Batukandik, and Batumadeg, in Nusa Penida, Bali. The project's ER is evaluated by CDM methodology; it is approximately 22,371.32 tCO2/year and potentially adds USD 447,426,32 annually. Afterwards, IRR and NPV are computed under two scenarios to access the worthiness of the project. IRR and NPV remain profitable after the electricity tariff reduction due to the additional carbon credits and biochar sales. Carbon credits alone contribute a slight improvement to the economic performance, yet it cannot be neglected. SA is then used to see the effect of feedstock price, electricity tariff, biochar sales, CAPEX/MW, and carbon credit towards IRR and NPV. Then, ERR is assessed to determine this project's feasibility and profit for the communities involved. The ERR value with and without the application of carbon credits are 32.66 and 28.19, respectively. Moreover, this project can increase job opportunities by 62.60. These values are obtained from several parameter calculations in the ERR analysis in this study, which include a producer surplus, costumer surplus, and job increase. The results of this study are expected to bring a contribution to the sustainable development goals and national economic activities in Indonesia. © 2023 Elsevier Ltd
date: 2023
volume: 219
status: peerReviewed
status: published
author list: authors
type: EPrint
type: ArticleEPrint
is part of: repository

Renewable Energy
type: Collection

A.H. Bahar
type: Person
given name: A.H.
family name: Bahar

Y. Susilowati
type: Person
given name: Y.
family name: Susilowati

F. Endrasari
type: Person
given name: F.
family name: Endrasari

D.C. Hardiyasanti
type: Person
given name: D.C.
family name: Hardiyasanti

I. Veza
type: Person
given name: I.
family name: Veza

J. Wahono
type: Person
given name: J.
family name: Wahono

S. Widianingrum
type: Person
given name: S.
family name: Widianingrum

D.W. Djamari
type: Person
given name: D.W.
family name: Djamari

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primary topic: Carbon credit and economic feasibility analysis of biomass-solar PV-battery power plant for application in Indonesia remote area