養豬場投資沼氣發電之財務可行性分析—以臺灣個案為例

The Financial Feasibility of Investing in Biogas Power Generation in Hog Husbandry – A Case Study in Taiwan

陳宜孜(Yi-Tzu Chen)

指導教授 ： 徐世勳

共同指導教授 ： 陳柏琪

國立臺灣大學/生物資源暨農學院/農業經濟學研究所/碩士(2019年)

https://doi.org/10.6342/NTU201901142

摘要

本研究以臺灣個案為例進行養豬場投資沼氣發電之財務可行性分析，收集厭氧發酵槽、污泥處理機、沼氣發電機、脫硫設施、併聯等期初投資成本數據，以及售電收入、政府補助金及售豬所得等收益，分析其淨現值、內部報酬率及還本年限。研究結果顯示在計入厭氧發酵槽及污泥處理機，但不計入售豬所得的情境下，淨現值及內部報酬率均為負值，還本年限超過15 年；在計入厭氧發酵槽及污泥處理機且計入售豬所得的情境下，各項情境之淨現值及內部報酬率皆高；不計入厭氧發酵槽及污泥處理機時，較貼近政府推動沼氣發電政策之初衷，淨現值為774 萬，內部報酬率114%，還本年限不滿1 年，即使沒有政府獎補助金的挹注，還本年限也僅需4.5 年，顯示養豬場倘將厭氧發酵槽及污泥處理機當成養豬場必備之廢水處理成本，則沼氣發電確為可行且對環境有所幫助的投資。

關鍵字

養豬場 ； 沼氣發電 ； 財務可行性分析

並列摘要

Taking the case of Taiwan as an example, this study provides a financial feasibility analysis of pig farm investment in biogas power generation. The data collected in this study includes anaerobic fermentation tank, sludge treatment machine, biogas generator, desulfurization facility, parallel and other initial investment cost data, as well as electricity sales revenue, government subsidies. The benefits such as subsidies and proceeds from the sale of pigs are analyzed for their net present value, internal rate of return and repayment of the current life. The results show that the net present value and internal rate of return are negative in the case of anaerobic fermentation tanks and sludge treatment machines, but not included the sale revenue of pigs. The current year is more than 15 years; it is included in the anaerobic fermentation tank and sewage. In the context of the mud processor and the income from the sale of pigs, the net present value and internal rate of return of each situation are high; when not included in the anaerobic fermentation tank and sludge treatment machine, it is closer to the original intention of
the government to promote biogas power generation policy. The net present value is 7.74 million, the internal rate of return is 114%, and the current period is less than one year. Even if there is no government subsidy, the current period is only 4.5 years, indicating that even when the pig farm takes both anaerobic fermentation tank and sludge treatment machine as necessary wastewater treatment cost for pig farms, biogas power generation is still a viable and environmentally friendly investment.

並列關鍵字

Hog Husbandry ； Biogas Power Generation ； Financial Feasibility

參考文獻

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