Solar Energy Farming for Sustainable Agriculture and Rural Development: Myanmar Dry Zone

Khin Thu Thu Thein and Department of Applied Economics, Yangon University of Economics, Myanmar
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Khin Thu Thu Thein: Asia Metropolitan University, Malaysia

International Journal of Science and Business, 2023, vol. 25, issue 1, 188-201

Abstract: Adopting climate technologies is essential for lowering greenhouse gas emissions, boosting the competitiveness of important industrial and commercial sectors, and fostering low-carbon and environmentally friendly growth in Myanmar. The 2019 Global LEAP Awards succinctly stated, "Solar water pumps can play a significant role in delivering a sustainable water supply in an increasingly climate-sensitive world, all while reducing or preventing harmful greenhouse gas emissions and enhancing the incomes and resilience of rural households worldwide. This study aims to demonstrate the agricultural viability and economic viability of Myanmar's Dry Zone's solar pumping technology. The marginal profit of switching from diesel to solar has resulted in 100000 MMK per acre over the past 12 months, a 556 ton reduction in CO2 emissions, and 1499708 million in health benefits per acre. Environmental benefit is included in the BC analysis, which has a 12151504 million MMK NPV, 2.31 B/C ratio, and 25%. According to IRR, the solar pump is economically feasible and viable for the agricultural industry. Farmers in Myanmar's dry zone, like those in other parts of the country, deal with volatile crop prices and greater operating expenses. The government of Myanmar must establish stable market prices for crops and demands for farmers. Additionally, promote spending on renewable energy and assistance for Myanmar's dry zone farmers.

Keywords: CO2 emission; Net Present Value; Solar Energy; Myanmar Dry Zone; Benefit Cost Ratio (search for similar items in EconPapers)
Date: 2023
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