Cost-Effective Combustion: The Economic Benefits of Dual-Fuel Systems
July 18, 202410:57 amRegardless of industry, companies in every corner of the world are all in pursuit of the same two things – streamlining operations while simultaneously trimming expenditures. It's a delicate balancing act that sometimes demands some out-of-the-box thinking. Yet, once mastered, it quickly becomes the cornerstone of a business' success – maximising return on investment (ROI). For engineering and industrial enterprises, achieving this often hinges on one key solution: dual-fuel configurations. Here, we delve into the method and explore its cost implications. In numerous processes, fuel overheads take up a significant proportion of operating expenses (OpEx), and with several factors affecting pricing, it's a substantial variable outlay which can significantly influence an organisation's profitability. While it's understood that market conditions fluctuate, in 2022, gas oil stood out as the priciest fossil fuel per weight, commanding a price of £999.97 per metric ton. For this very reason, businesses have been exploring dual-fuel procedures as a way to reduce OpEx with less expensive alternatives. A Dynamic Duo As its name suggests, a dual-fuel system leverages two distinct fuel sources – typically one that is economically advantageous and another serving as a reliable backup, albeit at a higher price point. In many cases, natural gas is combined with diesel, offering operators the flexibility to seamlessly transition between fuels based on facets like availability, expense and operational requirements. While the concept has existed for nearly as long as gasoline and diesel engines, its widespread adoption in the automotive domain is a relatively recent development. Regularly running on a mixture of crude-oil-derived fuel and LPG, substituting just 25% of conventional diesel consumption with LPG can yield a remarkable reduction of up to 6% in CO2 emissions or 8 tonnes, illustrating the compelling incentives for corporations to embrace the approach. Prior to its rollout in the vehicle sector, this type of technology proved its success in larger-scale stationary commercial applications all across the globe, like the oil and gas field and power generation, for example. Recently, they have even trickled down into more consumer-facing products, such as heat pumps, owing to their easily interchangeable fuel reserves and potential for electrification advancements. Considerations for Implementing Dual-Fuel Systems To fully capitalise on the advantages of these methods and mitigate OpEx, careful consideration of capital expenditure (CAPEX) is essential, which encompasses upfront investments in equipment, infrastructure and training. Investing in the Workforce An integral aspect to consider is the adjustment…