Preliminary techno-economic analysis of biodiesel production over solid-biochar

Abstract

This study suggests the economic potential of biochar-based biodiesel production by conducting the techno-economic analysis. The itemized cost estimation was performed by categorizing biochar production facility and biodiesel conversion plants for 30,000 ton y^-1 of biodiesel production capacity. The result of sensitivity analysis shows the methanol and waste cooking oil (WCO) costs are significantly sensitive to determine a unit biodiesel production cost. When the biodiesel selling price was 1.70 $ kg^-1, the discounted payback period was varied from 1.91 (not discounted) to 2.06 years (10% discounted). In addition, the break-even price of biodiesel was calculated to 1.55 $ kg^-1 when the discount rate was 10%. It means that this technology is to be feasible because of commercial diesel price (0.97 to 1.88 $ kg^-1). The consideration of tax exemption and subsidy for biodiesel can be good option to supply WCO based energy production.