Developing an economic estimation system for vertical farms

Shao, Yiming; Heath, Tim; Zhu, Yan

Abstract

The concept of vertical farming is nearly twenty years old, however, there are only a few experimental prototypes despite its many advantages compared to conventional agriculture. Significantly, financial uncertainty has been identified as the largest barrier to the realization of a ‘real’ vertical farm. Some specialists have provided ways to calculate costs and return on investment, however, most of them are superficial with calculations based on particular contextual circumstances. To move the concept forwards a reliable and flexible estimating tool, specific to this new building typology, is clearly required. A computational system, software named VFer, has therefore been developed by the authors to provide such a solution. This paper examines this highly flexible, customised system and results from several typical vertical farm configurations in three mega-cities (Shanghai, London and Washington DC) are used to elucidate the potential economic return of vertical farms.

Citation

Shao, Y., Heath, T., & Zhu, Y. (2016). Developing an economic estimation system for vertical farms. International Journal of Agricultural and Environmental Information Systems, 7(2), https://doi.org/10.4018/IJAEIS.2016040102

• Journal Article Type: Article
• Acceptance Date: Feb 1, 2016
• Online Publication Date: Apr 1, 2016
• Publication Date: Apr 1, 2016
• Deposit Date: Aug 24, 2017
• Publicly Available Date: Aug 24, 2017
• Journal: International Journal of Agricultural and Environmental Information Systems
• Print ISSN: 1947-3192
• Electronic ISSN: 1947-3206
• Publisher: IGI Global
• Peer Reviewed: Peer Reviewed
• Volume: 7
• Issue: 2
• DOI: https://doi.org/10.4018/IJAEIS.2016040102
• Keywords: Agricultural Economics, Agricultural Information System, Cost Modeling Methodology, Financial Analysis,Greenhouse, Hydroponics, Simulator, Urban Agriculture, Vertical Farming
• Public URL: https://nottingham-repository.worktribe.com/output/778066
• Publisher URL: https://www.igi-global.com/gateway/article/158094
• Contract Date: Aug 24, 2017