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Financial Analysis of a Proposed Large-Scale Ethanol Cogeneration Project

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  • Hanson, Gregory D.

Abstract

Financial analysis of an ethanol/electricity cogeneration plant indicates a rapid payback of investment and a high internal rate of return. This is primarily because cogeneration of steam for generation of electricity and biomass conversion to ethanol results in increased engineering efficiency compared to alternative ethanol alone production processes. Economic sensitivity testing included alternative price levels, interest rates, capacities, costs, and a “stand alone” case with no federal government excise tax subsidies. Supply and price analyses suggest the procurement of locally produced feedstock in Alabama and surrounding states is feasible. The robustness of the economic analysis provides support for consideration of ethanol cogeneration as a currently feasible strategy to utilize excess agricultural production capacity.

Suggested Citation

  • Hanson, Gregory D., 1985. "Financial Analysis of a Proposed Large-Scale Ethanol Cogeneration Project," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 17(2), pages 67-76, December.
    • Handle: RePEc:cup:jagaec:v:17:y:1985:i:02:p:67-76_02
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    Cited by:

    1. Unterschultz, James R. & Quagrainie, Kwamena K., 1996. "Investment Analysis of Agri-Food Ventures: What Risk Premia are Appropriate? The Silence of the Literature," Staff Paper Series 24131, University of Alberta, Department of Resource Economics and Environmental Sociology.
    2. Epplin, Francis M. & Haque, Mohua, 2011. "Policies to Facilitate Conversion of Millions of Acres to the Production of Biofuel Feedstock," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 43(3), pages 1-14, August.
    3. Gouzaye, Amadou & Epplin, Francis, 2016. "Restricting Switchgrass Biomass Feedstock Production to Marginal Land to Limit Competition with Food Production," 2016 Annual Meeting, February 6-9, 2016, San Antonio, Texas 229200, Southern Agricultural Economics Association.

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