Figure 7
Effect of electricity selling price on NPV and IRR for the {C5 EtOH, 20% WIS, 96 h, 250% EHE} case. Leaves addition to bagasse {B + L} and bagasse only {B} are the two feedstock used in evaluating the 1G + 2G ethanol and 1G ethanol profitability at constant wholesale ethanol price (0.60 US$/L, corresponding to 102 US$/MWh of ethanol lower heating value, as specified in panels (a) and (b)). For case definitions see Table 1. 1G, first generation; 2G, second generation; B, bagasse; B + L, bagasse with addition of leaves; C5 EtOH, pentose fermentation to ethanol; EHE, enzymatic hydrolysis efficiency; IRR, internal rate of return; NPV, net present value; WIS, water-insoluble solids.