Biomedical Engineering Reference
In-Depth Information
TABLE 2.4
Specific Capital Cost (1994 basis) and Efficiency of Power
Generation Systems Based on Biomass Gasification
Specific Capital Cost in
1994 ($/kWe)
Efficiency (%)
Plant Capacity (MWe)
IGCC Steam Gas Engine IGCC Steam Gas Engine
5
6500
6000
4600
22
18
25
10
4900
4400
3900
30
20
26
20
3750
3100
3000
37
22
28
40
a
2500
a
2800
2300
43
25
30
60
a
2200
a
2500
1950
45
27
30.5
80
a
2050
a
2200
1700
47
28
31
100
a
1950
a
2100
1500
48
29
31.5
a
Gas engines of such high capacity are rare. These are theoretical values.
Source: Data compiled from Bridgwater (1995).
2.4 FINANCIAL ANALYSIS
Once data on all capital and operating costs are available, the financial anal-
ysis of the plant could begin. Though the analysis presented in this section is
based on energy production from biomass using gasification, the analysis for
chemical and fuel production would also be similar. The viability of any
such project is measured in terms of following several terms:
1. Cost of electricity or product
2. Internal revenue requirement and return on investment
3. Net present value
4. Benefit
cost ratio
5. Payback period
6. Life-cycle cost.
The goal of a financial analysis is to determine one or many of the above
indices to judge the economic viability of a project.
2.4.1 Capital Cost Adjustment for Size and Time
The capital cost for a gasifier, fuel preparation, turbine, generator, or any
other major equipment discussed earlier is often derived from a database of
past projects maintained by consulting companies or some major user indus-
tries. Such equipments are not necessarily of the same size as that of the
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