Economic Analysis for Using Solar Energy Implementation to Support the Development of Nusantara Capital

Muhammad Syamil Fadlillah; Erma Suryani; Rahmatika Jagad Pramundito

doi:10.29103/jreece.v4i2.16470

Economic Analysis for Using Solar Energy Implementation to Support the Development of Nusantara Capital

Muhammad Syamil Fadlillah, Erma Suryani, Rahmatika Jagad Pramundito

Abstract

The dynamic simulation model for economic analysis of solar energy in the new Indonesia's capital named IKN is a computer system designed to evaluate the viability of solar energy as a power source in the new capital being developed in East Kalimantan. The model aims to assess the economic feasibility of solar energy implementation, addressing cost-effectiveness. Strategies include policy enforcement, land optimization, and population growth impacts. The model's validation showed an error rate ≤ 5% and error variance ≤ 30%, confirming its accuracy. Scenario simulations (most likely, pessimistic, and optimistic) forecasted varying returns on investment (ROI), indicating solar energy's profitability under different conditions. The optimistic scenario predicted the highest ROI of 42% by 2045, with a break-even point by 2026.

Keywords

Solar Energy; Nusantara Capital; Simulation Model; Dynamic System; Economic Analysis

Full Text:

PDF

References

Arishinta, A., & Suryani, E. (2021). Dynamic System Modeling Of Renewable Energy Diversification At Its Surabaya As A Sustainable University Management Effort. Iptek Journal Of Proceedings Series, 6, 195–202.

Barlas, Y. (1996). Formal Aspects Of Model Validity And Validation In System Dynamics. System Dynamics Review: The Journal Of The System Dynamics Society, 12(3), 183–210.

Chaharbaghi, K. (1990). Using Simulation To Solve Design And Operational Problems. International Journal Of Operations & Production Management, 10(9), 89–105.

Chi, Y., Zhao, H., Hu, Y., Yuan, Y., & Pang, Y. (2022). The Impact Of Allocation Methods On Carbon Emission Trading Under Electricity Marketization Reform In China: A System Dynamics Analysis. Energy, 259, 125034.

Daryono, B. S., Sarosa, W., Ubaidillah, R., Widyatmoko, D., Purnomo, D. W., Djohan, T. S., Hadisusanto, S., Aipassa, M. I., & Setyawati, T. (2023). Pembangunan Berkelanjutan Di Ibu Kota Negara Nusantara Perspektif Biologi. Ugm Press.

Gong, J., Li, C., & Wasielewski, M. R. (2019). Advances In Solar Energy Conversion. Chemical Society Reviews, 48(7), 1862–1864.

Hendrawan, R. A., Aristio, A. P., Buliali, J. L., Yuniarto, M. N., & Others. (2019). Testing Methods On System Dynamics: A Model Of Reliability, Average Reliability, And Demand Of Service. Procedia Computer Science, 161, 968–975.

Hsiao, C.-T., Liu, C.-S., Chang, D.-S., & Chen, C.-C. (2018). Dynamic Modeling Of The Policy Effect And Development Of Electric Power Systems: A Case In Taiwan. Energy Policy, 122, 377–387.

Hsu, C.-W. (2012). Using A System Dynamics Model To Assess The Effects Of Capital Subsidies And Feed-In Tariffs On Solar Pv Installations. Applied Energy, 100, 205–217.

Hutasoit, W. L. (2019). Analisa Pemindahan Ibukota Negara. Dedikasi: Jurnal Ilmiah Sosial, Hukum, Budaya, 39(2), 108–128.

Limas, C., Setyaningsih, O., Fauzi, I., & Others. (2021). Konsep Smart Port Di Ibu Kota Negara (Ikn) Indonesia. Jurnal Penelitian Transportasi Laut, 23(2), 77–94.

Patriamurti, R., Sasana, H., Prakoso, J. A., & Others. (2021). Analisis Pertumbuhan Ekonomi, Pertumbuhan Industri, Pertumbuhan Penduduk, Pengeluaran Konsumsi, Dan Investasi Asing Terhadap Konsumsi Listrik Di Indonesia Tahun 1971-2019. Dinamic: Directory Journal Of Economic, 3(4), 852–871.

Shannon, R. E. (1998). Introduction To The Art And Science Of Simulation. 1998 Winter Simulation Conference. Proceedings (Cat. No. 98ch36274), 1, 7–14.

Silalahi, S. A. F. (2019). Dampak Ekonomi Dan Risiko Pemindahan Ibu Kota Negara. Info Singkat, 11(16), 19–24.

Sterman, J. (2000). Instructor’s Manual To Accompany Business Dyanmics: Systems Thinking And Modeling For A Complex World. Mcgraw-Hill.

Suryani, E., Hendrawan, R. A., Adipraja, P. F. E., Widodo, B., Zahra, A. A., & Chou, S.-Y. (2023). A Model To Improve Workability Of Transport Systems. Environment, Development And Sustainability, 1–33.

Suryani, E., Hendrawan, R. A., Muhandhis, I., & Indraswari, R. (2022). A Simulation Model To Improve The Value Of Rice Supply Chain (A Case Study In East Java--Indonesia). Journal Of Simulation, 16(4), 392–414.

Thoriq, A. R., & Hakim, M. A. T. (2024). Legal Review Of The Position Of The Regulation Of The Head Of The Capital City Authority Of Nusantara As Local Legal Product: Tinjauan Yuridis Terhadap Kedudukan Peraturan Kepala Otorita Ibu Kota Nusantara Sebagai Produk Hukum Daerah. Journal Social Sciences And Humanioran Review, 1(03), 122–131.

Zhang, L., Du, Q., Zhou, D., & Zhou, P. (2022). How Does The Photovoltaic Industry Contribute To China’s Carbon Neutrality Goal? Analysis Of A System Dynamics Simulation. Science Of The Total Environment, 808, 151868.

DOI: https://doi.org/10.29103/jreece.v4i2.16470