An Economic Analysis of Giant Miscanthus for a Bio-Energy Crop
2013
Song, Y.H., Chungbuk National University, Chungju, Republic of Korea | Kong, K.S., Chungbuk National University, Chungju, Republic of Korea | Park, J.W., Chungbuk National University, Chungju, Republic of Korea
Miscanthus is a promising bioenergy crop as a sustainable energy source in the future. To assess the economics feasibility of Miscanthus, the productivity and the cost of Miscanthus are identified as major variable . For the productivity, MISCANMOD is modified into STELLA. The simulation result shows that the productivity of Miscanthus in Korea is expected to be between 5~42 ton/ha, depending on environment. The simulated average is 25.8 ton/ha with probability of 0.68. For the cost, preparation of the land, planting and harvest cost are considered. The propriety of cost of rhizome is found to loom large. For the benefit , the direct net benefit at farm level and the net benefit at social level are are considered. A status quo analysis indicates that the economic feasibility of Miscanthus is not secured. However, total sensitivity analyses, varying three variables simultaneously, indicate that the positive social net benifit can be secured for scenario IV and scenario VI, VII, VIII, IX and rhizome price drops.
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