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Feasibility of Microcogeneration Plant Installation: Portuguese Legal Framework Implemented in Croatian Circumstances

Liberalization of energy market and deregulation of energy prices in most of EU countries has opened numerous possibilities for use of distributed energy resources. Within such energy concept use of microcogeneration plants offers advantages like security of energy supply and high efficiency, thus lower greenhouse gas emissions. On the other hand, still relatively high investment costs and administrative issues represent major barriers for its broader application. The Portuguese legal framework related to cogeneration is fully in line with today’ s European energy regulation standards while Croatia, as an economy in transition, is just starting to develop its new energy legislation. Adopting the Portuguese cogeneration regulation model and adjusting it to Croatian circumstances might be a successful path towards finding an optimal solution for regulating Croatian cogeneration market. In that sense this paper will try to emulate and compare the feasibility of a small scale cogeneration power plant project in Croatia, using both present Croatian and Portuguese legal frameworks. For these purposes, a building with 20 apartments will be taken as an example for application. In that case, the plant would supply the building with electricity and thermal energy for heating and hot water consumption. Economic analysis and cost benefit analysis will be carried out and relevant economic parameters will be calculated for both cases. Sensitivity analysis at the end will show economic sensitivity of investment in microcogeneration plant for both cases meaning that the difference in feasibility in each case will be measured. At that point the prices of electricity and fuel and their ratio will be varied and related economic parameters will be calculated. The expected results and conclusions could be used as contribution towards determination of Croatian cogeneration legal framework.

Feasibility; Microcogeneration; legislation

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