Dimension of Solar Panels Surface Based to the Net Present Value for the Albanian Conditions

Active exploitation of solar energy is achieved in systems that absorb this energy through flat collectors. Hot water can be used for space heating, when its temperature is high, but it is used largely for DHW （domestic hot water） needs. Now days, this technology has resulted as the most viable for exploitation of solar energy, and various countries such as Israel, Turkey, and Greece provide hot water for residential and service sectors using systems of solar panels. In this proceeding we are writing about the dimension of the solar panels surface based to the net present value in Hotels of Albania.

Are the Methods of the Net Present Value Rate and Net Annual Value Rate the Effective Scheme Comparison Methods

As for the dispute about the best-choosing method of mutually-exclusive scheme and index selection, this text proves that there is an error to make a point that using net present value rate or net annual value rate, the most scientific and effective method is chain-system differential analysis and the most short-cutting method is the method of net annual value, to select the NA V maximum scheme.

Effects of hydraulic retention time on net present value and performance in a membrane bioreactor treating antibiotic production wastewater

A cost sensitivity analysis was performed for an industrial membrane bioreactor to quantify the effects of hydraulic retention times and related operational parameters on cost.Different hydraulic retention times(72-24 h)were subjected to a flat-sheet membrane bioreactor updated from an existing 72 h oxidation ditch treating antibiotic production wastewater.Field experimental data from the membrane bioreactor,both full-scale(500 m/d)and pilot(1.0 m3/d),were used to calculate the net present value(NPV),incorporating both capital expenditure(CAPEX)and operating expenditure.The results showed that the tank cost was estimated above membrane cost in the 38.2%,where capital expenditure contributed 24.2%more than operational expenditure.Tank construction cost was decisive in determining the net present value contributed 62.1%to the capital expenditure.The membrane bioreactor has the advantage of a longer lifespan flat-sheet membrane,while flux decline was tolerable.The antibiotics decreased to 1.87±0.33 mg/L in the MBR effluent.The upgrade to the membrane bioreactor also benefited further treatments by 10.1%-44.7%lower direct investment.

某三级甲等公立医院数字减影设备的成本效益分析

目的对公立医院数字减影血管造影(digital subtraction angiography,DSA)设备进行成本效益分析,结合社会效益评价,为设备采购和管理提供科学依据。方法采用投资回收期法、投资收益率法、量本利分析法和净现值法对数字减影设备进行成本效益分析,运用模糊数学法建模和指标评分法进行社会效益评价。结果公立医院数字减影设备包括DSA数字血管造影机、DSA全数字化平板探测器血管造影机、血管造影X线系统,其中:血管造影X线系统投资收益率最高为19.07%,投资回收期仅2.80年,运行效益评价为优秀;DSA全数字化平板探测器血管造影机A的经济指标最低,原因在于其业务量仅达保本工作量的83.91%,但其社会效益评分最高(C值为7.3)。结论公立医院在采购和管理数字减影等大型设备时需进行充分的成本效益分析论证,兼顾公立医院的公益性和科研属性,实行经济效益和社会效益双评价。

IT Project Evaluation and Investment Decision

There are many kinds of real options,which are valuable,in each phase of the lifetime of an information technology(IT)project.However,in the current IT investment decision theory,real options that embedded in IT projects are not considered. In this paper, the process of IT project decision and implementation is fully analyzed, the real options that may be embedded in an IT project are identified, and a real option analysis (ROA) method is proposed for evaluation of an IT project under uncertain business environment. ROA employs Black-Scholes expansion model and cancels the assumption that the cost of project is certain. The numerical example manifests that the ROA can better evaluate IT project and select the IT investment alternative. Finally, a road map is provided to help selecting the suitable evaluation method to make IT investment decision.

Economic Critical Resources for the Industrial Exploitation of Natural Gas Hydrate

Since the implementation of several pilot production tests were in natural gas hydrate(NGH) reservoirs in terrestrial and marine settings, the study of NGH has entered a new stage of technological development for industrial exploitation. Prior to the industrial exploitation of any given NGH reservoir, the economic feasibility should be examined. The first step of economic evaluation of a NGH reservoir is to know whether its resource amount meets the requirement for industrial exploitation. Unfortunately, few relevant studies have been conducted in this regard. In this study, the net present value(NPV) method is employed to estimate the economic critical resources required for the industrial exploitation of NGHs under different production scenarios. Sensitivity analysis is also performed in order to specify the effects of key factors, such as the number of production wells, gas price, technological improvement and tax incentive, on the economic critical resources. The results indicate that China requires the lowest economic critical resource for a NGH reservoir to be industrially exploited, ranging from 3.62 to 24.02 billion m3 methane. Changes in gas price and tax incentives also play significant roles in affecting the threshold and timeline for the industrial exploitation of NGH.

Optimized algorithm in mine production planning, mined material destination, and ultimate pit limit

An integral connection exists among the mine production planning, the mined material destination, and the ultimate pit limit （UPL） in the mining engineering economy. This relation is reinforced by real information and the benefits it engenders in the mining economy. Hence, it is important to create optimizing algorithms to reduce the errors of economic calculations. In this work, a logical mathematical algorithm that considers the important designing parameters and the mining economy is proposed. This algorithm creates an optimizing repetitive process among different designing constituents and directs them into the maximum amount of the mine economical parameters. This process will produce the highest amount of ores and the highest degree of safety. The modeling produces a new relation between the concept of the cutoff grade, mine designing, and mine planning, and it provides the maximum benefit by calculating the destination of the ores. The proposed algorithm is evaluated in a real case study. The results show that the net present value of the mine production is increased by 3% compared to previous methods of production design and UPL.

On the feasibility of re-stimulation of shale wells

As a result of advances in horizontal comple- tions and multi-stage hydraulic fracturing, the U.S. has been able to economically develop several decades of worth of natural gas. However, a considerable concern has risen on the economic viability of shale gas development for reasons associated with the fast production declines as well as recent down-turns of natural gas prices besides rises in the costs of new technologies. Therefore, an economic analysis is required to investigate the profitability of the re- fracturing treatment of unconventional gas resources. Net present value of cash flows and internal rate of return are calculated for a range of gas prices considering 20 years of natural gas production from a typical unconventional shale gas reservoir. A systematic comparison is then accom- plished for three scenarios： （1） re-fracturing versus no re- fracturing, （2） combination of re-fracturing and drilling new wells, and （3） time-dependent re-fracturing treatment. Further, this paper incorporates the cost of re-fracturing treatment, the cost of drilling a new horizontal well, the water treatment cost, as well as the current and future price of natural gas in the model. The findings of this work would help the future re-stimulation development plans of the emerging unconventional shale gas plays.

Estimating the opportunity costs of avoiding oil palm-based deforestation in Indonesia:Implications for REDD

Reducing emissions due to deforestation is considered a low-cost option for mitigating climate change.However,the recent literature suggests higher opportunity costs because of specific deforestation drivers,which render reducing emissions from deforestation and forest degradation(REDD+)for mitigating climate change an uncertain,less attractive,and controversial option.Indonesia is one of the largest greenhouse gas emitters.Since 1989,53.80%of its oil palm expansion has come from forestlands,which has generated a significant amount of carbon emissions.This study uses official data and results from the relevant literature to estimate the costs of oil palm-based deforestation under various scenario assumptions,including different output prices,yields,time horizons,and discount rates.We also calculate the additional cost to preserve a 1-ha forest.We demonstrate that the average opportunity cost from avoiding oil palm-based deforestation is 24.42 USD/tCO_(2)eq in Indonesia,approximately 1.3 times the 2011 EUA carbon price.Additional sums of around 5,466.90–11,042.96 USD/ha should be provided to landowners for the deforestation avoidance caused by oil palm expansion.Special attention should be given to the extensive oil palm expansion in Indonesia and the resulting high opportunity costs for achieving the REDD+​target.

Economic Viability of Smallholder Agroforestry and Beekeeping Projects in Uluguru Mountains, Tanzania: A Cost Benefit Analysis

Agroforestry and beekeeping are widely promoted as prospective Nature- Based Income Generating Activities (NIGAs) to improve livelihoods while at the same time enhancing biodiversity conservation in degrading agro-ecologies. These activities can diversify and increase famers’ incomes and support instinctive biota and fauna resilience. However, evidence to showcase and compare their long-term benefits is scant. We use the case of Uluguru Mountains in Tanzania to evaluate and compare viability of agroforestry and beekeeping projects using the Cost Benefit Analysis (CBA) approach. The results of analysis yielded positive NPVs for both agroforestry and beekeeping projects at discount rates not higher than 8.2% and 8.5% respectively. Overall, the comparison of economic viability between agroforestry and beekeeping projects revealed that the former was relatively more profitable than the later in terms of both the NPV and Benefit Cost Ratio (BCR) criteria. However, the Internal Rate of Return (IRR) for beekeeping was slightly higher than that of agroforestry. Yet, we underscore the fact that these two projects can jointly be implemented to enhance livelihoods of farmers and support biodiversity conservation in the study area and other parts with similar agro-ecologies in developing countries. However, farmers in these agro-ecologies need to be supported by governments and non-government development partners in terms of training and inspiration to shift from orthodox farming to sustainable NIGAs.

Combined stochastic and discrete simulation to optimise the economics of mixed single-horizontal and multilateral well offshore oil developments

Multilateral wells promise cost savings to oil and fields as they have the potential to reduce overall drilling distances and minimize the number of slots required for the surface facility managing the well.However,drilling a multilateral well does not always increase the flow rate when compared to two single-horizontal wells due to competition in production inside the mother-bore.Here,a holistic approach is proposed to find the optimum balance between single and multilateral wells in an offshore oil development.In so doing,the integrated approach finds the highest Net Present Value(NPV)configuration of the field considering drilling,subsurface,production and financial analysis.The model employs stochastic perturbation and Markov Chain Monte-Carlo methods to solve the global maximising-NPV problem.In addition,a combination of Mixed-Integer Linear Programming(MILP),an improved Dijkstra algorithm and a Levenberg-Marquardt optimiser is proposed to solve the rate allocation problem.With the outcome from this analysis,the model suggests the optimum development including number of multilateral and single horizontal wells that would result in the highest NPV.The results demonstrate the potential for modelling to find the optimal use of petroleum facilities and to assist with planning and decision making.

The Analysis and Modification of Opportunity Cost of Investment

We think we should use basic return rate of industry to measure the opportunity cost of capital and use the rule of Maximum NPV （Net Present Value） to modify the wrong solution in the book.

A techno-economic analysis of aquaculture business in Ogun State,Nigeria

Fish supplies 25% of the total protein source in developing countries. A techno-economic analysis was performed for developing a good business proposal for aquaculture loans to enhance aquaculture development in Nigeria. A case study of catfish Clarias gariepinus framing was conducted in Abeokuta North Local Government of Ogun State, Nigeria. The results show that the fixed cost is N18 338 per year, and the variable cost is N459 700 per year, accounting for the largest amount of the total; therefore, a profit of N43 289 per month can be made. Sensitivity analysis was performed to assess any risk(s) that associated with unfavorable changes in government policy with particular reference to monetary policy. Positive net present value shows that the investment in fish farm is economically feasible and the net investment ratio is 3.52. Also, the benefit-cost ratio is 2.17. The internal rate of return (IRR) is 21% showing that the enterprise is able to offset the interest being charged on the loan. It is therefore worthwhile to invest into fish farm business in the study area. The study suggests that to better sustain the local aquaculture business, the government should create a good conducive environment to foster development of the fish farming. Government intervention is urgently needed to solve problems such as in traditional land tenure, grant credit facilities and subsidies, to enhance the aquacultural development in the country.

Profitability of RE-Technology Regarding the Economic Environment:A Case Study of Swiss SMEs

Considering the important changes in the Swiss energy sector, especially in renewable energy(RE)technologies, new revenue possibilities for small and medium sized enterprises(SMEs) emerge. However, the adaption of RE-technologies for Swiss enterprises relies on tangible financial returns, based on complex calculations. This article analyses business opportunities(BOs) of eight Swiss SMEs considering the net present value of RE-investments in an uncertain economic environment. We identify two profitable BOs for Swiss SMEs and three which are not profitable. Further, the article demonstrates that the profitability of such investments remains mostly positive even under economic uncertainties. Surprisingly the profitability does not change significantly if the SME receives a subsidy or not. The support instrument of the Swiss Government has not a ponderous impact on the decision to invest in RE-technologies or not. Therefore, the article emphasizes the importance of including SME in the Swiss attempt to decentralize the energy market.

Optimum Sizing and Economic Analysis of Standalone PV System with a Small Size Grinding Mill

This work presents the results of the characterization of a standalone photovoltaic system for the electrification of a household located in rural area in the western region of Cameroon: Nziih-Bafou in Dschang (5.35°N, 10.05°E and 1900 m). In order to cope with the maintenance charges and reduce the investment cost, a small mill was added to the appliances of the household for income generation. The assessment of the energy demand was made by taking into account the reactive energy due to the heavy consumption of energy by the mill’s motor, especially during ignition. The sizing of all the system’s components was carried out with the prospect of determining an optimum design in accordance with daily electricity demand, site irradiance profile and climatic conditions. In this context, tilt angles applicable to the PV structure and that allow to receive the maximum irradiance as a function of the periods of the year were determined using the Hay model. This approach provides the system with incident irradiance greater than or at the limit equal to that received by a horizontal surface on the same site compared to the case of a single tilt angle where the irradiance on the inclined plane is often lower than that on the horizontal. The economic analysis of the PV system showed an initial cost of $4448 and the Life Cost Cycle amounted to $24,495. This amount corresponds to a present cost per kilowatt hour of $0.44. The Net Present Value (NPV) of the project ($7793) over its lifetime (20 years) shows a payback period of less than 4 years.

Financial Valuation of Segment-Specific Marketing Activities and Market Segment Development

By applying methods of investment appraisal, this paper offers a financial approach for determining the optimal level of segment-specific marketing activities and market development under the conditions of imperfect markets and uncertainty. Within the scope of marketing planning and controlling, the model is suited to optimizing an enterprise＇s market activities and taking interdependencies between market segments, production, and investments into account. Applying duality theory of linear programming allows for identifying the income determinants and deriving formulas for a correct valuation by using （corrected） net present values （NPVs）. Under certain conditions, they can also be used to easily evaluate and financially interpret the effects of parameter changes. The author uses sensitivity analysis to support these findings and to obtain more information on the effects of these determinants.

Short-Term Financing of Economic Order Quantity （EOQ） Inventory Model With Probabilistic Quality

In this paper, the classical economic order quantity （EOQ） inventory model assumption that all items of a certain product received from a supplier are of perfect quality is relaxed. Another basic assumption that the payment for the items is made at the beginning of the inventory cycle when they are received is also eased. We consider an inventory situation where items received from the supplier are of two types of quality, perfect and imperfect, and a short deferral in payment is allowed. The split between perfect and imperfect quality items is assumed to follow a known probability distribution. Both qualities of items have continuous demands, and items of imperfect quality are sold at a discount. A mathematical model is developed using the net present value of all cash flows involved in the inventory cycle. A numerical method for obtaining the optimal order quantity is presented, and the impact of the short-term financing is analyzed. An example is presented to validate the equations and illustrate the results.

Economic Feasibility of Simultaneous Production of Pine Sawlogs and Meat Goats on Small-Sized Farms in Alabama

The objective of this study were to conduct economic evaluations of silvopasture farming system to enable landowners, extension personnel, and other decision makers to correctly assess its potential among the many land-use options; and to determine the most profitable animal stocking rate on small farms in Alabama. The analysis draws on data from a silvopastoral experiment conducted in the Alabama Black Belt region, on the property of the Federation of Southern Cooperatives in Epes, Alabama, between June 2006 and July 2010. Economic and financial ratio analyses were used to compare profitability, management feasibility, and risk considerations of simultaneous production of pine sawlogs and meat goats on small-sized farms in Alabama. The results suggest that silvopasture technology is profitable and financially feasible under specified assumptions. The Net Present Value model suggested that investing in silvopasture system would be considered acceptable at the 6 percent discount rate at a high stocking rate of 8 meat goats per acre. These findings were reaffirmed by the financial feasibility analysis.

A Unit Study of Externality of Shrimp Farming on Provisioning Services (Paddy Farming)

Externality;the term can define as a positive or negative impact from either production or consumption of goods or services.Services provided by particular location have very specific dependency on spatial characteristics of that region.A region’s distinct characteristics make it ecologically unique from other such regions.Ecosystem services are offered by these regions thus differ according to these unique ecological features.In this particular study,artificially imposed expansion of coastal shrimp farming towards the inland and its impact over paddy cultivation have been addressed.Optimization of the extent of this manipulative coastal expansion has been supported by little modification of a previously described model.Here the investment prediction for both shrimp and paddy farming has been investigated by calculating net present value(NPV).Shrimp farming has very specific externality on local ecosystem services.In this particular case,some contradictory results are presented and with respect to positive or negative externality;but the externalities are strong.NPV results indicate that there is no long-term profitability in case of shrimp farming.Hence,an overall externality of shrimp farming has been described in context of this study.

Factors Affecting Swedish Forest Property Prices

Historically the price of a forest estate has, at least in Sweden, been closely related to the financial return from the estate, but this connection no longer seems to be that strong, other factors that previously had limited influence on prices now add to the price. Factors like site productivity and age distribution affect the financial return of a forest estate but is it obvious that these factors still influence prices as they once did? Over the last 20 years, the price of forest estates has increased dramatically. If development of prices has led to a weakened connection between return and price, could this be explained by the fact that previously price affecting factors have less weight when valuing forest estates? The purpose of the study was therefore to investigate how a number of factors influence the forest estate price;including site productivity and age distribution. The results shows that neither site productivity, nor age distribution have a significant impact on the forest estate price. What mainly influence the prices seems to be the standing forest volume on the estate and region. The development of the prices seems not only to have influenced the relationship between the return from the forest and the prices, but also minimized the influence of factors like age distribution and site productivity. This means that estates that are bought within the same region, at the same price per cubic meter, can have considerably different potential to gain financial return.