Parameter | Value | Reference |
---|---|---|
Minimum acceptable rate of return (per year) | 12% | Watanabe et al. [25] |
Project life span (years) | 25 | Watanabe et al. [25] |
Depreciation rate (linear, 10Â years) | 10% | Watanabe et al. [25] |
Income taxes | 34% | Milanez et al. [17] |
Maintenance (%Capex) | 3% | Milanez et al. [17] |
Month/year of reference for economic parameters | July/2014a | – |
Exchange rate (R$/US$) | 2.30 | Average of July, 2014 |
Enzyme cost—short term (US$/L 2G ethanol) | 0.13 | Estimate from suppliers |
Enzyme cost—medium term (US$/L 2G ethanol) | 0.08 | Estimate from suppliers |
Enzyme cost—long term (US$/L 2G ethanol) | 0.06 | Estimate from suppliers |
Anhydrous ethanol price (R$/L) | 1.34 | Moving average (2004–2014) [26] |
Electricity price (R$/MWh) | 132.43 | Average from auctions (2005–2013) [27] |