In operation of the proposed tri-generation system ranges

In
this chapter, the tri-generation system in analysed and evaluated from the
economic and environmental points of view, based on the system year round
simulation and the detailed energetic performance presented in Chapter 6. On
the economic side, the simple payback period method and the Net Present Value
method were employed to study and investigate the economic feasibility of
investing in such solar-biomass driven tri-generation systems. It was shown
that the annual financial savings due to the operation of the tri-generation
system is about 8226 USD on the heating bill, 961 USD on the electricity bill
and 951 USD on the cooling bill. The payback period estimated is in the range
of 3.6-11.9 based on the wood pellets price. In addition, it was shown that the
installation and delivery cost is a key factor in the evaluation of the overall
system economic feasibility. At a delivery and installation cost of 10% of the
total system cost, the payback period ranges between 3.4 and 11 years at
different wood pellets cost where the payback period increases to be in the
range of 4.5-14.6 years at a delivery and installation cost of 50% of the
system total cost. Moreover, it was shown that employing a hybrid solar-biomass
source to drive the tri-generation system under the Lebanese conditions is
economically feasible when the biomass wood pellets cost is higher than 250
USD/tonne, providing higher savings and shorter payback periods. In addition,
the Net present value reported ranges between 10624-50579 USD depending on the
interest rate employed and considering a system lifetime of 25 years with an
average wood pellets price of 300 USD/tonne. Environmentally, the annual CO2
emissions due to the biomass boiler operation is about 1296 kg where the amount
of CO2 emissions avoided due to the operation of the proposed
tri-generation system ranges between 3.1 tonnes in June and 9.2 tonnes in
March, compared to the conventional cooling, heating and power generation
techniques. The economic and environmental evaluation carried out in this
chapter demonstrates the large potential of the renewable energy-driven
micro-scale tri-generation systems under the Lebanese conditions compared to
the current separate energy production technologies. 

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