Applying Techno-economic Analysis to Evaluate the Economic Value of Residue Reuse of Makino Bamboo (Phyllostachys makinoi)
Year: 2023
Type: preprint
Abstract: The bamboo industry in Taiwan was very prosperous in the early days. However, with the development of the industry, bamboo was replaced by plastics, metals, and composite materials. There are different ways to process bamboo waste from the bamboo processing industry. This study aimed to analyze the economic benefits of different processing methods for Makino waste materials using techno-economic analysis and cost-benefit analysis. This study divided the treatment methods into two categories: (a) remove, discard, and no longer use and (b) reuse to make fuel rods for sale. Category (a) includes one scenario: removing and sending the waste materials to the joss paper processing manufacturer to proceed with incineration and burial. Category (b) was divided into 6 scenarios according to whether they need to bear the cost of equipment and whether they need to hire additional full-time employees. The results show that different analysis methods all point out that Scenario 7 (the manufacturer does not have to bear the cost of equipment and does not hire additional professional employees) is the best solution. If using the net present value method, present value cost method, net annual value method, and annual cost method for evaluation, then scenario 6 (the manufacturer does not have to bear the equipment costs and hire additional professional manpower) and scenario 7 are better than scenario 1 (the bamboo waste was removed). If using the net present value rate method, profitability index method, and self-liquidating ratio for evaluation, then the results show that only scenario 7 is profitable, and no other scenarios should be selected. This means that the production of fuel rods from bamboo waste materials can increase the material output value, help manufacturers create economic benefits, and solve the regional environmental problems caused by the long-term accumulation of waste materials. Therefore, to minimize the waste of resources and through the government subsidizing the cost of equipment, the implementation of the applications of the circular economy can achieve a balance between environmental protection and socioeconomic benefits. It is recommended to apply industry-academia cooperation, hiring students from relevant departments to reduce labor costs and enable students to understand the bamboo industry.
Source: Research Square
Authors: Yu-Jen Lin, Yi-Lin Zhong, Wan-Yu Liu
Language: English
Subfield: Plant Science
Domain: Life Sciences
Open Access status: green
OpenAlex ID: W4387312243