Economic assessment of the alternative energy sources implementation for port enterprises

Economic Annals-ХХI: Volume 166, Issue 7-8, Pages: 46-50

Citation information:
Yarova, N., Vorkunova, O., & Khoteyeva, N. (2017). Economic assessment of the alternative energy sources implementation for port enterprises. Economic Annals-XXI, 166(7-8), 46-50. doi: https://doi.org/10.21003/ea.V166-09

Nina Yarova
PhD (Economics),
Associate Professor,
Odesa National Maritime University
32 Mechnikov Str., Odesa, 65000, Ukraine
nina.yarovaya@onmu.Odesa.ua
ORCID ID: http://orcid.org/0000-0002-9703-3305

Olga Vorkunova
PhD (Economics),
Associate Professor,
Odesa National Maritime University
32 Mechnikov Str., Odesa, 65000, Ukraine
o.vorkunova@onmu.Odesa.ua
ORCID ID: http://orcid.org/0000-0003-2451-5853

Natalia Khoteyeva
PhD (Economics),
Associate Professor,
Odesa National Maritime University
32 Mechnikov Str., Odesa, 65000, Ukraine
natkhoteyeva@gmail.com
ORCID ID: http://orcid.org/0000-0002-3858-6540

Economic assessment of the alternative energy sources implementation for port enterprises

Abstract. The purpose of this article is to explore specific features of the implementation of alternative energy sources used to ensure activities of Ukrainian port companies. A considerable development of the alternative energy industry in Ukraine is connected to a relatively loyal legislation, state support and tax benefits for companies which employ it. Diversification of energy sources contributes primarily to decreasing risks, however, from the economic point, the choice of concrete sources appears to be more efficient for port companies. Thus, it is suggested to install solar collectors and wind stations to facilitate port activities. According to our calculations, the implementation of the innovative investment project regarding solar panels is justified. The economic effect of installation of solar collectors and wind stations is estimated at UAH 3,107,667.00 (USD 194,230.00) and UAH 1,022,093.00 (USD 63,880.00), respectively. The use of both options is economically feasible in the modern conditions. However, the economic benefit from the wind stations is significantly less. It can be explained by the fact that equipment for wind stations is much more expensive, and its installation and maintenance are more sophisticated and costly. A much bigger quantity of solar panels is needed to provide electricity for the whole port, yet the cost of their installation and maintenance is considerably lower.

Keywords: Sea Port; Maritime Activity; Alternative Energy Sources; Renewable Energy Sources; Wind Power; Solar Power

JEL Classіfіcatіon: О14; Q29; Q43

DOI: https://doi.org/10.21003/ea.V166-09

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Received 15.04.2017