A Decision Support Framework for Cost-Effective and Energy-Efficient Shipping

2020 ◽  
Author(s):  
Khanh Q. Bui ◽  
Lokukaluge P. Perera
Keyword(s):  
Life Cycle ◽  
Decision Support ◽  
Energy Efficient ◽  
Life Cycle Cost ◽  
Performance Monitoring ◽  
Cost Effective ◽  
Life Cycles ◽  
Maritime Industry ◽  
Decision Support Framework ◽  
Maritime Operations

Abstract Stringent regulations regarding environmental protection and energy efficiency (i.e., emission limits regarding NOx, SOx pollutants and the IMO greenhouse gases reduction target) will mark a significant shift to the maritime industry. In the first place, the shipping industry has strived to work towards feasible technologies for regulatory compliance. Nevertheless, life cycle cost appraisal attaches much consideration of decision-makers when it comes to investment decisions on new technologies. Therefore, the life cycle cost analysis (LCCA) is proposed in this study to evaluate the cash flow budgeting and cost performance of the proposed technologies over their life cycles. In the second place, environmental regulations may support innovation especially in the era of digitalization. The industrial digitalization is expected to revolutionize all of the aspects of shipping and enable the achievement of energy-efficient and environmental-friendly maritime operations. The so-called Internet of things (IoT) with the utilization of sensor technologies as well as data acquisition systems can facilitate the respective maritime operations by means of vessel operational performance monitoring. The big data sets obtained from IoT should be properly analyzed with the help of Artificial Intelligence (AI) and Machine Learning (ML) approaches. Our contribution in this paper is to propose a decision support framework, which comprises the LCCA analysis and advanced data analytics for ship performance monitoring, will play a pivotal role for decision-making processes towards cost-effective and energy-efficient shipping.

scholarly journals Cost-Effective Options for the Renovation of an Existing Education Building toward the Nearly Net-Zero Energy Goal—Life-Cycle Cost Analysis

2019 ◽  
Vol 11 (8) ◽  
pp. 2444 ◽  
Author(s):  
Ming Hu
Keyword(s):  
Renewable Energy ◽  
Life Cycle ◽  
Energy Efficient ◽  
Life Cycle Cost ◽  
Renewable Energy Sources ◽  
Cost Effective ◽  
Energy Resources ◽  
Energy Sources ◽  
Life Cycle Cost Analysis ◽  
Renewable Energy Resources

A comprehensive case study on life-cycle cost analysis (LCCA) was conducted on a two- story education building with a projected 40-year lifespan in College Park, Maryland. The aim of this paper was to (1) create a life cycle assessment model, using an education building to test the model, (2) compare the life cycle cost (LCC) of different renovation scenarios, taking into account added renewable energy resources to achieve the university’s overall carbon neutrality goal, and (3) verify the robustness of the LCC model by conducting sensitivity analysis and studying the influence of different variables. Nine renovation scenarios were constructed by combining six renovation techniques and three renewable energy resources. The LCCA results were then compared to understand the cost-effective relation between implementing energy reduction techniques and renewable energy sources. The results indicated that investing in energy-efficient retrofitting techniques was more cost-effective than investments in renewable energy sources in the long term. In the optimum scenario, renovation and renewable energy, when combined, produced close to a 90% reduction in the life cycle cost compared to the baseline. The payback period for the initial investment cost, including avoided electricity costs, varies from 1.4 to 4.1 years. This suggests that the initial investment in energy-efficient renovation is the primary factor in the LCC of an existing building.

scholarly journals ESTIMATION OF LONG-TERM INVESTMENT PROJECTS WITH ENERGY-EFFICIENT SOLUTIONS BASED ON LIFE CYCLE COSTS INDICATOR

Vestnik MGSU ◽  
2015 ◽  
pp. 146-157 ◽  
Author(s):  
Viktor Ivanovich Bazhenov ◽  
Andrey Vadimovich Ustyuzhanin
Keyword(s):  
Life Cycle ◽  
Energy Efficient ◽  
Life Cycle Cost ◽  
Cost Effective ◽  
Cash Flows ◽  
Efficient Solutions ◽  
Investment Projects ◽  
Capital Costs ◽  
Technical Solutions

The starting stage of the tender procedures in Russia with the participation of foreign suppliers dictates the feasibility of the developments for economical methods directed to comparison of technical solutions on the construction field. The article describes the example of practical Life Cycle Cost (LCC) evaluations under respect of Present Value (PV) determination. These create a possibility for investor to estimate long-term projects (indicated as 25 years) as commercially profitable, taking into account inflation rate, interest rate, real discount rate (indicated as 5 %). For economic analysis air-blower station of WWTP was selected as a significant energy consumer. Technical variants for the comparison of blower types are: 1 - multistage without control, 2 - multistage with VFD control, 3 - single stage double vane control. The result of LCC estimation shows the last variant as most attractive or cost-effective for investments with economy of 17,2 % (variant 1) and 21,0 % (variant 2) under adopted duty conditions and evaluations of capital costs (Cic + Cin) with annual expenditure related (Ce+Co+Cm). The adopted duty conditions include daily and seasonal fluctuations of air flow. This was the reason for the adopted energy consumption as, kW∙h: 2158 (variant 1),1743...2201 (variant 2), 1058...1951 (variant 3). The article refers to Europump guide tables in order to simplify sophisticated factors search (Cp /Cn, df), which can be useful for economical analyses in Russia. Example of evaluations connected with energy-efficient solutions is given, but this reference involves the use of materials for the cases with resource savings, such as all types of fuel. In conclusion follows the assent to use LCC indicator jointly with the method of determining discounted cash flows, that will satisfy the investor’s need for interest source due to technical and economical comparisons.

scholarly journals Sustainable Ventilation Strategies for a Medium-Sized Space with Regional Effect

2021 ◽  
Vol 13 (9) ◽  
pp. 4651
Author(s):  
Ming-Lun Alan Fong
Keyword(s):  
Life Cycle ◽  
Life Cycle Cost ◽  
Co2 Emission ◽  
High Efficiency ◽  
Regional Climate ◽  
Cost Effective ◽  
Regional Effect ◽  
Climate Conditions ◽  
Ventilation Strategies ◽  
Set Up

The analysis of ventilation strategies is fundamentally affected by regional climate conditions and local cost databases, in terms of energy consumption, CO2 emission and cost-effective analysis. A systematic approach is covered in this paper to estimate a local economic and environmental impact on a medium-sized space located in two regions during supply-and-installation and operation phases. Three ventilation strategies, including mixing ventilation (MV), displacement ventilation (DV) and stratum ventilation (SV) were applied to medium-sized air-conditioned space with this approach. The trend of the results for three ventilation systems in the life cycle assessment (LCA) and life cycle cost (LCC) analysis is SV < DV < MV. The result of CO2 emission and regional LCC shows that SV is the lowest one in both regional studies. In comparison with the Hong Kong Special Administrative Region (HKSAR) during 20 Service years, the case analysis demonstrates that the percentage differences in LCC analysis of MV, DV & SV in Guangdong are less than 20.5%, 19.4% and 18.82% respectively. Their CO2 emission of MV, DV and SV in Guangdong are more than HKSAR in 10.69%, 11.22% and 12.05%, respectively. The present study could provide information about regional effects in the LCA and LCC analysis of three ventilation strategies emissions, and thereby help set up models for decision-making on high efficiency and cost-effective ventilation strategy plans.

scholarly journals Least Cost Analysis of Energy Efficiency Upgrades for Ontario Using Trnsys

2021 ◽  
Author(s):  
Amir Fereidouni Kondri
Keyword(s):  
Life Cycle ◽  
Energy Consumption ◽  
Cost Analysis ◽  
Energy Efficient ◽  
Life Cycle Cost ◽  
Net Present Value ◽  
Hot Water ◽  
Life Cycle Costs ◽  
Residential Housing ◽  
Domestic Hot Water

This report presents the methodology for determining least cost energy efficient upgrade solutions in new residential housing using brute force sequential search (BFSS) method for integration into the reference house to reduce energy consumption while minimizing the net present value (NPV) of life cycle costs. The results showed that, based on the life cycle cost analysis of 30 years, the optimal upgrades resulted in the average of 19.25% (case 1), 31% (case 2a), and 21% (case 2b) reduction in annual energy consumption. Economic conditions affect the sequencing of the upgrades. In this respect the preferred upgrades to be performed in order are; domestic hot water heating, above grade wall insulation, cooling systems, ceiling insulation, floor insulation, heat recovery ventilator, basement slab insulation and below grade wall insulation. When the gas commodity pricing becomes high, the more energy efficient upgrades for domestic hot water (DHW) get selected at a cost premium.

A Model for Making Part Sourcing Decisions for Long Life Cycle Products

2011 ◽  
Author(s):  
Varun J. Prabhakar ◽  
Peter Sandborn
Keyword(s):  
Supply Chain ◽  
Life Cycle ◽  
Life Cycle Cost ◽  
Critical Infrastructure ◽  
Cost Effective ◽  
Sourcing Strategies ◽  
Support Costs ◽  
Long Life ◽  
Sourcing Decisions ◽  
Linear Regulators

Long life cycle products, commonly found in aviation, medical and critical infrastructure applications, are often fielded and supported for long periods of time (20 years or more). The manufacture and support of long life cycle products rely on the availability of suitable parts, which over long periods of time, leaves the parts susceptible to a number of possible supply chain disruptions such as suppliers exiting the market, counterfeit part risks, and part obsolescence. One solution to mitigating the supply chain risk is the strategic formulation of suitable part sourcing strategies (optimally selecting one or more suppliers from which to purchase parts over the life of the part’s use within a product or within an organization). Strategic sourcing offers one way of avoiding the risk of part unavailability (and its associated penalties), but at the possible expense of qualification and support costs for multiple suppliers. Existing methods used to study part sourcing decisions are procurement-centric where cost tradeoffs focus on part pricing, negotiation practices and purchase volumes. These studies are commonplace in strategic parts management for short life cycle products; however, conventional procurement-centric approaches offer only a limited view when assessing parts used in long life cycle products. Procurement-driven decision-making provides little to no insight into the accumulation of life cycle cost (attributed to the adoption and use of the part), which can be significantly larger than procurement costs in long life cycle products. This paper presents a new life cycle modeling approach to quantify risk that enables cost effective part sourcing strategies. The method quantifies obsolescence risk as “annual expected total cost of ownership (TCO) per part site” modeled by estimating the likelihood of obsolescence and using that likelihood to determine the TCO allowing sourcing strategies to be compared on a life cycle cost basis. The method is demonstrated for electronic parts in an example case study of linear regulators and shows that when procurement and inventory costs are small contributions to the part’s TCO, the cost of qualifying and supporting a second source outweighs the benefits of extending the part’s effective procurement life.

Life Cycle Cost Analysis Case Study on Corrosion Remedial Measures for Concrete Structures

2012 ◽  
Author(s):  
Jin How Ho ◽  
Azlan Abd. Rahman
Keyword(s):  
Life Cycle ◽  
Cost Analysis ◽  
Life Cycle Cost ◽  
Net Present Value ◽  
Cost Effective ◽  
Concrete Bridges ◽  
Analysis Tool ◽  
Life Cycle Cost Analysis ◽  
Remedial Measures ◽  
Present Value

Artikel ini membincangkan kajian ringkas berkaitan analisis kos kitaran hayat terhadap langkah-langkah pembaikan pengaratan bagi jambatan dan struktur marin konkrit yang terdedah kepada karbonasi atau serangan natrium klorida daripada air laut atau sumber-sumber lain. Perisian kos kitaran hayat, Bridge LCC 2.0 digunakan untuk menjalankan analisi kitaran hayat untuk tiga kes kajian melibatkan kaedah nilai bersih kini. Keputusan kajian menunjukkan analisis kos kitaran hayat berkeupayaan untuk membantu jurutera dan agensi pengangkutan dalam menilai keputusan penyelenggaraan yang efektif berkaitan dengan masalah pengaratan. Ia boleh digunakan sebagai alat analisis ekonomi kejuruteraan yang membantu mantaksir kos-kos perbezaan dan membuat pilihan terhadap langkah pembaikan pengaratan yang berkesan. Analisis kos kitaran hayat bagi langkah pembaikan dipengaruhi oleh banyak pemboleh ubah seperti kos permulaan, kos penyelenggaraan, tahun kekerapan, dan jangka masa analisis. Amalan terbaik untuk analisis kos kitaran hayat bukan sahaja mengambil kira perbelanjaan oleh agensi, tetapi perlu mempertimbangkan kos-kos oleh pengguna dan analisis sensitiviti di sepanjang jangka hayat sesuatu langkah pembaikan. Kata kunci: Analisis kos kitaran hayat, jambatan konkrit, pengaratan, langkah, pembaikan, pemulihan struktur, keberkesanan kos, kaedah nilai bersih kini (NPV) This paper discusses a short study on life cycle cost analysis (LCCA) on corrosion remedial measures for concrete bridges and marine structures, which are subjected to carbonation or ingress of sodium chloride from sea water and other sources. Life cycle costing software, Bridge LCC 2.0, was used to perform life cycle cost analyses on three case studies, based on net present value method. The analysis of the results showed that LCCA is capable of assisting engineers or transportation agencies to evaluate optimum maintenance decisions in corrosion–related problems. It can be used as an engineering economic analysis tool that helps in qualifying the differential costs and choosing the most cost–effective corrosion remedial measures. Life cycle costs for the remedial measures are influenced by many costing variables such as initial costs, periodic maintenance costs, frequency years and analysis period. The best practice of LCCA should not only consider agency expenditures but also user costs and sensitivity analysis throughout the service life of a remedial measure. Key words: Life cycle analysis, concrete bridges, corrosion, remedial measures, structural rehabilitation, cost-effective, net present value method (NPV)

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