Journal of Agricultural Extension & Community Development (농촌지도와개발)

Korean Society of Agricultural Extension (한국농촌지도학회)
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Replacement Investment with Pallet Fuel System in Greenhouse Fruit and Vegetables

목재펠릿시스템의 대체투자 가능성 분석 - 시설과채 사례 -

  • Kim, Seongsup (Farm and Agribusiness Management Division, Rural Development Administration) ;
  • Kim, Taehoo (Center for Agricultural Policy Evaluation, Korea Rural Economic Institute) ;
  • Seo, Sangtaek (Agricultural Economics, College of Agriculture, Life and Environment Sciences, Chungbuk National University)
  • 김성섭 (농촌진흥청 농산업경영과) ;
  • 김태후 (한국농촌경제연구원 농식품정책성과관리센터) ;
  • 서상택 (충북대학교 농업생명환경대학 농업경제학과)
  • Received : 2018.07.10
  • Accepted : 2018.09.09
  • Published : 2018.09.30
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Abstract

This study aimed to analyze the replacement investment of the diesel fuel system with the pallet fuel system in the Korean farming sector. Equivalent annual annuity approach was used to resolve a discrepancy of useful life in capital goods and to facilitate investment analyses in an independent perspective. Data was obtained from previous studies on economic analysis of greenhouse tomato, paprika and cucumber. Results showed that the replacement with the pallet fuel system was acceptable irrespective of the remaining period of useful life for the diesel fuel system. In addition, sensitivity analysis with government support level, repair cost, and light and heat energy cost show ed robustness in the possibility of replacement with the pallet fuel system while the speed of replacement was accelerated with an increase in the amount of diesel fuel used and price of diesel fuel, and a decrease in price of the pallet fuel. The result implied that the replacement investment rather than a new investment was appropriate for existing greenhouse farmers and the pallet fuel system was acceptable to replace existing diesel fuel system in producing greenhouse tomato, paprika and cucumber.

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