Economic Value Estimation of Biogas Utilization in Public Wastewater Treatment Plants of the Republic of Korea
This paper presents economic value estimation of improved biogas utilization systems of public wastewater treatment plants in Republic of Korea. Since a large amount of biogas produced at digestion facilities is being wasted as a by-product, the biogas energy utilization system needs to be enhanced....
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| Format: | Article |
| Language: | English |
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MDPI AG
2023-02-01
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| Series: | Energies |
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| Online Access: | https://www.mdpi.com/1996-1073/16/5/2150 |
| _version_ | 1797615458381201408 |
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| author | Deok-Kyeom Jung Sung-Min Park |
| author_facet | Deok-Kyeom Jung Sung-Min Park |
| author_sort | Deok-Kyeom Jung |
| collection | DOAJ |
| description | This paper presents economic value estimation of improved biogas utilization systems of public wastewater treatment plants in Republic of Korea. Since a large amount of biogas produced at digestion facilities is being wasted as a by-product, the biogas energy utilization system needs to be enhanced. In this paper, three operating options able to utilize the produced biogas are proposed, and then their monetary benefits are estimated by means of net present value calculation. Real operational data from the public wastewater treatment plant located in Sejong city, Republic of Korea, is used to reflect a variation of the rated daily gas production and its concentration according to the weather and seasons, resulting in calculating more reliable results. Additionally, to minimize the estimation errors due to uncertainties of the gas concentration and the gas selling price, a Monte Carlo simulation considering the variation of critical input data is carried out. As a result, the proposed approach can lead to better decisions in selecting the suitable biogas utilization system by forecasting the ranges of possible economic values. |
| first_indexed | 2024-03-11T07:26:37Z |
| format | Article |
| id | doaj.art-8ab0ef983dea4aad9388309c7a6b6648 |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-03-11T07:26:37Z |
| publishDate | 2023-02-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-8ab0ef983dea4aad9388309c7a6b66482023-11-17T07:34:50ZengMDPI AGEnergies1996-10732023-02-01165215010.3390/en16052150Economic Value Estimation of Biogas Utilization in Public Wastewater Treatment Plants of the Republic of KoreaDeok-Kyeom Jung0Sung-Min Park1Graduate School of Smart City & Urban Regeneration Converge, Hongik University, Sejong 30016, Republic of KoreaDepartment of Electronic and Electrical Engineering, Hongik University, Sejong 30016, Republic of KoreaThis paper presents economic value estimation of improved biogas utilization systems of public wastewater treatment plants in Republic of Korea. Since a large amount of biogas produced at digestion facilities is being wasted as a by-product, the biogas energy utilization system needs to be enhanced. In this paper, three operating options able to utilize the produced biogas are proposed, and then their monetary benefits are estimated by means of net present value calculation. Real operational data from the public wastewater treatment plant located in Sejong city, Republic of Korea, is used to reflect a variation of the rated daily gas production and its concentration according to the weather and seasons, resulting in calculating more reliable results. Additionally, to minimize the estimation errors due to uncertainties of the gas concentration and the gas selling price, a Monte Carlo simulation considering the variation of critical input data is carried out. As a result, the proposed approach can lead to better decisions in selecting the suitable biogas utilization system by forecasting the ranges of possible economic values.https://www.mdpi.com/1996-1073/16/5/2150biogasnet present valuemonte-carlo simulationwastewater treatment plant |
| spellingShingle | Deok-Kyeom Jung Sung-Min Park Economic Value Estimation of Biogas Utilization in Public Wastewater Treatment Plants of the Republic of Korea Energies biogas net present value monte-carlo simulation wastewater treatment plant |
| title | Economic Value Estimation of Biogas Utilization in Public Wastewater Treatment Plants of the Republic of Korea |
| title_full | Economic Value Estimation of Biogas Utilization in Public Wastewater Treatment Plants of the Republic of Korea |
| title_fullStr | Economic Value Estimation of Biogas Utilization in Public Wastewater Treatment Plants of the Republic of Korea |
| title_full_unstemmed | Economic Value Estimation of Biogas Utilization in Public Wastewater Treatment Plants of the Republic of Korea |
| title_short | Economic Value Estimation of Biogas Utilization in Public Wastewater Treatment Plants of the Republic of Korea |
| title_sort | economic value estimation of biogas utilization in public wastewater treatment plants of the republic of korea |
| topic | biogas net present value monte-carlo simulation wastewater treatment plant |
| url | https://www.mdpi.com/1996-1073/16/5/2150 |
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