Keywords
Wind energy
Economic impact
Efficiency impact
Green renewable energy
EEE impact analysis
Energy sustainability
Environmental impact
Sustainable manufacturing
Return on Investment (ROI)
How to Cite
Abstract
The world's increasing energy demand, coupled with the depletion of finite energy resources, necessitates a shift towards sustainable energy solutions. This research explores the multifaceted benefits of substituting conventional fossil fuel-based energy sources with renewable energy in industrial settings, with a focus on sustainable manufacturing. A case study was conducted at a printing and packaging factory in Bhubaneswar, Odisha, to analyze economic, environmental, health, safety, and efficiency factors associated with various energy options based on the Madhab’s EEE (Environmental, Efficiency, Economic) impact analysis method. The study identified solar power generation as the optimal energy source, boasting the lowest EEE impact index of 1.90. Wind energy ranked second, followed by conventional GRID power and DG (Diesel Generator) power sources, which were found to be less favorable due to their higher EEE impact indices. Feasibility assessments revealed that the factory had ample rooftop and vacant land space for solar power plant installation, making it self-sufficient in power generation. The return on investment (ROI) for the solar power project was calculated to be 5.54 years, making it a viable option from a sustainability perspective. Moreover, the solar system could be integrated with the GRID through a reverse metering system, enabling excess energy to be sold back to the GRID. This research underscores the significance of transitioning to renewable energy sources in industries for environmental sustainability, energy security, and economic benefits. It emphasizes the need for similar studies in diverse industrial settings to identify the most suitable energy sources, considering all relevant factors.
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Copyright (c) 2023 Madhab C. Jena, Sarat K. Mishra, Himanshu S. Moharana