ABSTRACT
The study was focused on the evaluation ofthe
cost benefit analysis of a pilot pyrolysis plant for the conversion of waste
plastic into useful diesel oil. Because the start-up capital for a 2 kg waste
plastic capacity 01 a one-hour was large, with a comparatively low yield of
hydrocarbon, it is important to economically test the viability ofthe plant.
The methodology of cost benefit analysis was applied with emphasis on the
systems payback period and the yearly internal rate of return (IRR). These
indices were done using Excel. Earlier experimental results had indicated that
for a 1000-hour annual operation. 1000 liters.of diesel is expected at 2000 kg
of waste plastic with a corresponding revenue benefit of USD 1, 120. For the
system’s total life cycle, up to 10 000 litres of diesel can be produced
resulting to about USD 11,200. From the cost benefit analysis, it was observed
that the system has a payback period ofjust two years compared to its 10-year
life span and beneficial from economic viewpoint and is estimated to generate a
net income of up to 700 USD for each thousand-hour operation. Furthermore, the
results demonstrates that the pyrolysis plant gave an IRR of 48 % when the cost
of plastic was neglected. An IRR of 48 % indicates that plant is expected to
generate a rate ofreturn of48 %. When the cost ofplastic is accounted for, the
system s IRR is reduced to 33 % annually and is still feasible from an economic
view point. Therefore, the pyrolysis is economically feasible for scaled up
operation.
-- (2024). Cost Benefit Analysis Of Waste Plastic Pyrolysis Plant For Biodiesel Recovery:- Nnaemeka Princewill C. Repository.mouau.edu.ng: Retrieved Nov 10, 2024, from https://repository.mouau.edu.ng/work/view/cost-benefit-analysis-of-waste-plastic-pyrolysis-plant-for-biodiesel-recovery-nnaemeka-princewill-c-7-2
--. "Cost Benefit Analysis Of Waste Plastic Pyrolysis Plant For Biodiesel Recovery:- Nnaemeka Princewill C" Repository.mouau.edu.ng. Repository.mouau.edu.ng, 24 Oct. 2024, https://repository.mouau.edu.ng/work/view/cost-benefit-analysis-of-waste-plastic-pyrolysis-plant-for-biodiesel-recovery-nnaemeka-princewill-c-7-2. Accessed 10 Nov. 2024.
--. "Cost Benefit Analysis Of Waste Plastic Pyrolysis Plant For Biodiesel Recovery:- Nnaemeka Princewill C". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 24 Oct. 2024. Web. 10 Nov. 2024. < https://repository.mouau.edu.ng/work/view/cost-benefit-analysis-of-waste-plastic-pyrolysis-plant-for-biodiesel-recovery-nnaemeka-princewill-c-7-2 >.
--. "Cost Benefit Analysis Of Waste Plastic Pyrolysis Plant For Biodiesel Recovery:- Nnaemeka Princewill C" Repository.mouau.edu.ng (2024). Accessed 10 Nov. 2024. https://repository.mouau.edu.ng/work/view/cost-benefit-analysis-of-waste-plastic-pyrolysis-plant-for-biodiesel-recovery-nnaemeka-princewill-c-7-2