Comparative Analysis of Investments for Biodiesel Production with Help of Excel Spreadsheet
PAULO ROBERTO CISNEIROS VIEIRA, Valdemir Alexandre dos Santos · International Review of Chemical Engineering (IRECHE) · 2014
Was developed a computational method in Excel® spreadsheet to compare investments with application in the production of biodiesel. Biodiesel can replace all or part of the diesel oil in automotive diesel engines. Its use on a large scale will allow the economy to foreign exchange to import diesel oil, and expected reduction of environmental pollution. The methodology applied to assess the economic viability of a production process used the simultaneous employment of technical calculations of Net Present Value (NPV) and Internal Rate of Return (IRR). A value of IRR in the NPV calculation expression replacing the Minimum Rate of Attractiveness (MRA) and leads to an iterative calculation whose result cancels the NPV value. For a quick and efficient choice of investment more attractive the spreadsheet was developed using the Excel 2007® Solver function. This tool is available and easily accessible to investors. It is established that presented method for calculating those economic parameters requires minimal efforts from the users