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Geothermal source heat pumps under energy services companies finance scheme to increase energy efficiency and production in stockbreeding facilities

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  • Borge-Diez, David
  • Colmenar-Santos, Antonio
  • Pérez-Molina, Clara
  • López-Rey, África

Abstract

In Europe energy services are underutilized in terms of their potential to improve energy efficiency and reduce external energy dependence. Agricultural and stockbreeding sectors have high potential to improve their energy efficiency. This paper presents an energy model for geothermal source heat pumps in stockbreeding facilities and an analysis of an energy services business case. The proposed solution combines both energy cost reduction and productivity increases and improves energy services company financing scheme. CO2 emissions drop by 89%, reducing carbon footprint and improving added value for the product. For the two different evaluated scenarios, one including winter heating and one including heating and cooling, high IRR (internal return rate) values are obtained. A sensitivity analysis reveals that the IRR ranges from 10.25% to 22.02%, making the investment attractive. To make the research highly extensible, a sensitivity analysis for different locations and climatic conditions is presented, showing a direct relationship between financial parameters and climatic conditions. A Monte Carlo simulation is performed showing that initial fuel cost and initial investment are the most decisive in the financial results. This work proves that energy services based on geothermal energy can be profitable in these sectors and can increase sustainability, reduce CO2 emissions and improve carbon footprint.

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  • Borge-Diez, David & Colmenar-Santos, Antonio & Pérez-Molina, Clara & López-Rey, África, 2015. "Geothermal source heat pumps under energy services companies finance scheme to increase energy efficiency and production in stockbreeding facilities," Energy, Elsevier, vol. 88(C), pages 821-836.
    • Handle: RePEc:eee:energy:v:88:y:2015:i:c:p:821-836
    DOI: 10.1016/j.energy.2015.07.005
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    Cited by:

    1. Bustos, F. & Lazo, C. & Contreras, J. & Fuentes, A., 2016. "Analysis of a solar and aerothermal plant combined with a conventional system in an ESCO model in Chile," Renewable and Sustainable Energy Reviews, Elsevier, vol. 60(C), pages 1156-1167.
    2. Cristina Sáez Blázquez & David Borge-Diez & Ignacio Martín Nieto & Miguel Ángel Maté-González & Arturo Farfán Martín & Diego González-Aguilera, 2022. "Geothermal Heat Pumps for Slurry Cooling and Farm Heating: Impact and Carbon Footprint Reduction in Pig Farms," Sustainability, MDPI, vol. 14(10), pages 1-17, May.
    3. Kung, Chih-Chun & Lan, Xiaolong & Yang, Yunxia & Kung, Shan-Shan & Chang, Meng-Shiuh, 2022. "Effects of green bonds on Taiwan's bioenergy development," Energy, Elsevier, vol. 238(PA).
    4. Pereira Domingues Martinho, Vítor João, 2020. "Comparative analysis of energy costs on farms in the European Union: A nonparametric approach," Energy, Elsevier, vol. 195(C).
    5. Antonio Colmenar-Santos & Elisabet Palomo-Torrejón & Enrique Rosales-Asensio & David Borge-Diez, 2018. "Measures to Remove Geothermal Energy Barriers in the European Union," Energies, MDPI, vol. 11(11), pages 1-29, November.
    6. Alberti, Luca & Antelmi, Matteo & Angelotti, Adriana & Formentin, Giovanni, 2018. "Geothermal heat pumps for sustainable farm climatization and field irrigation," Agricultural Water Management, Elsevier, vol. 195(C), pages 187-200.
    7. Blázquez, Cristina Sáez & Borge-Diez, David & Nieto, Ignacio Martín & Maté-González, Miguel Ángel & Martín, Arturo Farfán & González-Aguilera, Diego, 2021. "Investigating the potential of the slurry technology for sustainable pig farm heating," Energy, Elsevier, vol. 234(C).

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