Feasibility studies are large-scale studies which examining the legal, technological, economic and financial aspects of energy alternatives. All possible investment options are studied, and the most favorable ones are identified, formed and substantiated.
Feasibility studies are used to examine various energy-related situations, such as: waste energy utilization opportunities; selection of the best alternative for heat, electricity or cold production; possibilities of production process efficiency; opportunities for the use of renewable energy sources, etc. Feasibility studies examine not only the resources used, but also their supply / demand, investment environment, manufacturing sector, export-import opportunities, diversification opportunities and many other factors.
The main stages of preparing the feasibility study are described below:
• Feasibility studies start with an analysis of the interests of consumers and the current situation. The aim is to analyze the possible factors for the project during its implementation. National legal regulations and availability of resources are considered.
• Possible technical solutions are selected according to the target market. These solutions are analyzed by selecting the most suitable construction site, the technology, equipment, their layout, etc. Some of the most suitable solutions are visualized with 2D or 3D drawings and layouts. There are performed necessary technological calculations.
• In the financial and economic sections, there are calculated the estimated investment costs, the payback period, the investment effect, and the possibilities for adapting support programs.
• The investment project has certain consequences, therefore the change in the environmental impact is assessed by performing a risk assessment (sensitivity) analysis.