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Economic evaluation of a wind and solar energy hybrid electric sightseeing boat in Laemsak, Krabi Province, Thailand 

Prince of Songkla University (PSU), through the work of Assoc. Prof. Dr. Montri Luengchavanon from the Faculty of Environmental Management, conducted a quantitative research study for Bulan Anda Baba Resort in the Laemsak tourism community, Krabi Province, Thailand, to evaluate the economic feasibility of hybrid renewable energy systems. 

The study focused on integrating hybrid wind and solar energy with a diesel-engine long-tail boat used in local tourism operations. It involved collecting and estimating the initial development costs, operational and maintenance expenses, and depreciation values, as well as evaluating the economic benefits—including increased tourism revenue, fuel savings, and carbon offset advantages. 

Using the Cost-Benefit Analysis (CBA) approach, the project calculated key economic indicators such as the Payback Period (PP), Net Present Value (NPV), Benefit-Cost Ratio (BCR), and Internal Rate of Return (IRR). A sensitivity analysis was also conducted to account for uncertain variables affecting investment performance. 

The results over a 10-year evaluation period showed a payback period of approximately 3–4 years, positive NPV, BCR greater than 1.0, and IRR significantly exceeding the market interest rate, confirming that the project is financially feasible and economically attractive for investment. 

This research provides valuable data and policy insight for local authorities and national agencies to support clean energy transitions in coastal and tourism-based communities, aligning with Thailand’s renewable energy development goals and contributing to sustainable, low-carbon tourism initiatives. 

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