| Title |
A Study on Economic Feasibility Analysis for Commercialization of LED Plant Factories Based on IT Convergence & Integration |
| Authors |
Sang-Ok Kim ; Sang-Chul Park |
| DOI |
http://dx.doi.org/10.5207/JIEIE.2017.31.6.034 |
| Keywords |
IT-LED convergence and integration ; Plant Factories |
| Abstract |
This study is to analyze the economic feasibility of LED (Light Emitting Diode) plant factories based on IT (Information Technology) convergence and integration. In Korea, it has been difficult to develop a market for plant factories of sufficient size owing to persistent troubles in terms of commercial feasibility. Additionally the lack of attractive BMs (Business Models) of economic aspect has failed to induce aggressive participation of related businesses to expand the base of plant factories. After operating two plant factories (3,306㎡ and 9,917㎡ in area, respectively) utilizing horizontally installed IT convergent / integrated hydroponic facilities and LED light sources supplementing sunlight for a year, an efficient business model which can support small?and medium?size farmers to advance as corporate farmers was studied. This study performed economic feasibility analyses of investment costs by structure and type and analyzed the operational rate of return, break-even points, and sensitivity. The comparative analysis of production costs and economic feasibility in terms of environment between the IT-LED plant factories and the existing greenhouse cultivation farms were also compared. It is expected that the study on LED plant factory converging and integrating with IT would play an important in the development of plant factories since it could save labor and working hours of urban-to-rural returners, secure competitive advantage of local agricultural products over imported foreign farm products and contribute to the export of local products by improving their output and quality. |