Using the sun in own favor: a study about energy efficiency in a chemical industry

Abstract

Goal: This paper aims to analyze the economic feasibility of the inclusion of solar energy boiler in the production process in a chemical industry. Design/Methodology/ Approach: The research method used was documentary analysis in organizational reports, interviews with suppliers and observation. For the feasibility analysis of the solar energy inclusion project, Payback, Internal Rate of Return (IRR) and Net Present Value (NPV) calculations were performed. Results: Results show that the adequacy of the production system from the use of solar energy contributes to the three areas of the Triple Bottom Line (TBL), that is, economical because its contributions to the organization's long-term cost reduction, social by ensuring greater safety to workers around the boiler and environmental by reducing the rate of greenhouse gases emissions from burning fossil fuels. Limitations of the investigation: The paper limitations are related to the fact that the study was made from data collected in a single organization from chemical industry sector to trace the feasibility of the project, this fact does not allow us to assume generalizations to other companies in the sector. Practical implications: The study shows the importance of adopting new production systems based on cleaner energies and what contributions can be achieved on sustainability by organizations, society and the environment. Originality/Value: By analyzing the feasibility of adapting a production system to a chemical industry, the study contributes to the field of research on environmental management and sustainability.