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Developing an Economic Estimation System for Vertical Farms

Author

Listed:
  • Yiming Shao

    (University of Nottingham, Nottingham, UK)

  • Tim Heath

    (University of Nottingham, Nottingham, UK)

  • Yan Zhu

    (University of Nottingham, Nottingham, UK)

Abstract

The concept of vertical farming is nearly twenty years old, however, there are only a few experimental prototypes despite its many advantages compared to conventional agriculture. Significantly, financial uncertainty has been identified as the largest barrier to the realization of a ‘real' vertical farm. Some specialists have provided ways to calculate costs and return on investment, however, most of them are superficial with calculations based on particular contextual circumstances. To move the concept forwards a reliable and flexible estimating tool, specific to this new building typology, is clearly required. A computational system, software named VFer, has therefore been developed by the authors to provide such a solution. This paper examines this highly flexible, customised system and results from several typical vertical farm configurations in three mega-cities (Shanghai, London and Washington DC) are used to elucidate the potential economic return of vertical farms.

Suggested Citation

  • Yiming Shao & Tim Heath & Yan Zhu, 2016. "Developing an Economic Estimation System for Vertical Farms," International Journal of Agricultural and Environmental Information Systems (IJAEIS), IGI Global, vol. 7(2), pages 26-51, April.
    • Handle: RePEc:igg:jaeis0:v:7:y:2016:i:2:p:26-51
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    Citations

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    Cited by:

    1. Francis J. Baumont de Oliveira & Scott Ferson & Ronald A. D. Dyer & Jens M. H. Thomas & Paul D. Myers & Nicholas G. Gray, 2022. "How High Is High Enough? Assessing Financial Risk for Vertical Farms Using Imprecise Probability," Sustainability, MDPI, vol. 14(9), pages 1-29, May.
    2. Heino Pesch & Louis Louw, 2023. "Exploring the Industrial Symbiosis Potential of Plant Factories during the Initial Establishment Phase," Sustainability, MDPI, vol. 15(2), pages 1-30, January.
    3. Heino Pesch & Louis Louw, 2023. "Evaluating the Economic Feasibility of Plant Factory Scenarios That Produce Biomass for Biorefining Processes," Sustainability, MDPI, vol. 15(2), pages 1-36, January.
    4. Yiming Shao & Zhugen Wang & Zhiwei Zhou & Haojing Chen & Yuanlong Cui & Zhenghuan Zhou, 2022. "Determinants Affecting Public Intention to Use Micro-Vertical Farming: A Survey Investigation," Sustainability, MDPI, vol. 14(15), pages 1-26, July.

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