Environmental Engineering Reference
In-Depth Information
Check into favourable fi nancing conditions within the framework of other
climate-protection measures, check and apply for available grants.
Arrange for system to be installed by a registered company with expertise in this
technology.
12.6 Economics
Trying to predict the long-term economic development of biomass fuels compared
to fossil fuels is a bit like reading tea leaves. This is because of the fl uctuation in
wood pellet prices during recent years (Figure 12.18). Whereas in 2003 the prices
for heating oil and wood pellets of a comparable calorifi c value were practically the
same, in 2005 oil prices soared by 50%. This caused a boom in the demand for
wood pellets, which the industry had a hard time meeting. In late 2006 the prices
for wood pellets were even higher than comparable crude oil prices for a short time.
The prices normalized a few months later and oil prices again rose sharply.
500
100
90
450
400
80
350
70
300
60
250
50
200
40
150
30
wood pellets
fuel oil
natural gas
100
20
50
10
0
0
Figure 12.18 Comparison of end user prices for fuel oil, natural gas and wood pellets
in Germany. Data: German Federal Statistical Offi ce and German Energy Pellets Association.
The potential for producing wood pellets is far from enough to supply the total
current heating market. If more and more customers start using wood pellets as fuel,
the result will inevitably be a rise in prices. However, as fuel oil prices will also
continue to move upwards in the long term, the price advantage of wood pellets
could be maintained at a rising level.
Whether wood pellet heating makes economic sense depends primarily on the price
difference compared to fuel oil and natural gas. An estimate for installing this kind
of heating is around 15 000 euros, which is considerably more than it would be for
oil or natural gas heating. However, with natural gas there is the additional cost of
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