Small-scale biodiesel production economics: a case study focus on Crete Island

Remarkable research has been carried out in the past decade in the field of biofuels in general and, more specifically, in the feasibility of their production. A number of studies have been published that focus on the viability of the investments on biodiesel production plants from a technical-economic perspective. The common characteristic of these studies is that they refer to medium to large-scale production plants. The principal aim of this study is to investigate the viability of a small-scale biodiesel production plant investment in Greece determining the factors and figures that rule the economics of such a plant. Having in mind that a small-scale plant offers greater opportunities for rural development and decentralization as well as that rural development is a focal point in the Greek economy, the financial performance of a small-scale biodiesel plant in Crete Island is analysed in the present work. It is believed that the results obtained may prove very useful in determining the technical and financial characteristics and parameters of similar production facilities. (C) 2011 Elsevier Ltd. All rights reserved.