the total cost, followed by TVOC (25.72%) and TVOC (24.99%). Owing to a large
number of inputs in the first year, the cost of the project amounts to be the highest
during the operation period. Inevitably, this study chooses the first year to elucidate
the structure of the cost (see Fig. 1). The capital investment in the first year has an
economic value of USD 2.66 million, covering the costs of fixed assets involving
equipment procurement and building constructions, such as photobioreactor (PBR),
greenhouse, pyrolysis system, flocculation tank, centrifuge, land, storeroom. The
investment for PBR is USD 1.28 million, which accounts for *48% of the total
cost. Meanwhile, the cost of the pyrolysis system and greenhouse constructions is
among the principal sources of capital investments, responsible for *17
and *11% respectively, while the other costs possess comparatively subordinate
contributions.
TFOC amounts to USD 1.56 million, with the major contributors as capital
expenditures (*51%), depreciation (*17%), salaries (*14%), maintenance,
insurance and taxes (*10%), among others. In a microalgal cultivation system,
USD 26,763 and USD 161,457 are spent for the depreciation and maintenance of
equipment annually to keep the system stable in the long run. Roughly, USD
220,000 per annum is used as the wages for the proprietors and the working
personnel. The costs of cultivation, harvesting, and extraction constitute TVOC (see
Fig. 1), which is USD 815,033. Cultivation, which requires a large amount of
energy and nutrient input, invariably occupies the top position in TVOC.
Extraction, which consumes considerable amounts of electricity and chemicals, is
estimated to cost USD 365,090. Harvesting triggers the lowest cost with a fraction
of 0.12%.
As a matter of fact, several factors, such as microalgal species, cultivation
system, lipid content, grease content, and conversion technologies, may influence
the cost estimation. Moreover, climate and season transitions (especially the
changes in temperature and sunlight), having significant impacts on the mixing of
Fig. 1 Theoretical cost structure of algal ethanol
7 The Bioeconomy of Microalgal Biofuels
163
number of inputs in the first year, the cost of the project amounts to be the highest
during the operation period. Inevitably, this study chooses the first year to elucidate
the structure of the cost (see Fig. 1). The capital investment in the first year has an
economic value of USD 2.66 million, covering the costs of fixed assets involving
equipment procurement and building constructions, such as photobioreactor (PBR),
greenhouse, pyrolysis system, flocculation tank, centrifuge, land, storeroom. The
investment for PBR is USD 1.28 million, which accounts for *48% of the total
cost. Meanwhile, the cost of the pyrolysis system and greenhouse constructions is
among the principal sources of capital investments, responsible for *17
and *11% respectively, while the other costs possess comparatively subordinate
contributions.
TFOC amounts to USD 1.56 million, with the major contributors as capital
expenditures (*51%), depreciation (*17%), salaries (*14%), maintenance,
insurance and taxes (*10%), among others. In a microalgal cultivation system,
USD 26,763 and USD 161,457 are spent for the depreciation and maintenance of
equipment annually to keep the system stable in the long run. Roughly, USD
220,000 per annum is used as the wages for the proprietors and the working
personnel. The costs of cultivation, harvesting, and extraction constitute TVOC (see
Fig. 1), which is USD 815,033. Cultivation, which requires a large amount of
energy and nutrient input, invariably occupies the top position in TVOC.
Extraction, which consumes considerable amounts of electricity and chemicals, is
estimated to cost USD 365,090. Harvesting triggers the lowest cost with a fraction
of 0.12%.
As a matter of fact, several factors, such as microalgal species, cultivation
system, lipid content, grease content, and conversion technologies, may influence
the cost estimation. Moreover, climate and season transitions (especially the
changes in temperature and sunlight), having significant impacts on the mixing of
Fig. 1 Theoretical cost structure of algal ethanol
7 The Bioeconomy of Microalgal Biofuels
163