In the quest for sustainable energy solutions, a groundbreaking study from Tongji University is turning heads in the energy sector. Led by JIN Mengyu from the Institute of New Rural Development, the research delves into the economic viability of producing bio-gasoline and bio-diesel through biomass pyrolysis liquefaction. This innovative approach could significantly reduce China’s reliance on crude oil imports, aligning with the nation’s ambitious “dual carbon” goals.
The study, published in ‘能源环境保护’ (Energy, Environment and Protection), constructs a detailed life cycle assessment of a bio-oil plant, evaluating its operational lifespan and economic performance. The findings are promising: the static investment payback period is a mere 5.46 years, with a dynamic payback period of 7.45 years. The internal rate of return stands at an impressive 17%, and the cumulative net present value is projected to be 20.21491 million yuan.
JIN Mengyu emphasizes the importance of scale and efficiency in the success of such projects. “To ensure profitability, the selling price of bio-diesel should not be lower than 6105.81 yuan per ton,” JIN notes. “Moreover, the production scale must exceed 1700 tons for the project to be economically viable.”
The research also highlights the sensitivity of the project to various cost factors. While raw material prices have a notable impact, electricity costs prove to be even more critical. “Bio-oil plants should prioritize reducing energy consumption,” JIN advises. “An affordable and reliable raw material supply is crucial for the survival, development, and competitiveness of enterprises.”
The implications of this study are far-reaching. As the energy sector continues to evolve, the production of bio-gasoline and bio-diesel through biomass pyrolysis liquefaction could become a cornerstone of sustainable energy strategies. The findings suggest that with the right scale and cost management, these bio-oil plants can be both economically viable and environmentally friendly.
For energy companies and investors, this research opens up new avenues for exploration. The potential to reduce dependence on crude oil imports, coupled with the economic benefits outlined in the study, makes biomass pyrolysis liquefaction a compelling option. As JIN Mengyu’s work gains traction, it could very well shape the future of the energy sector, driving innovation and sustainability in equal measure.
