Economic and Environmental Benefits of Renewable Energy Sources in Multi-generation Systems

The aim of the manuscript was to present the collective results of research on the profitability of using various renewable sources in Poland with the greatest development potential. In the paper, the economic parameters of various investment projects were determined and calculated, i.e., Net Capital Value (NPV), Internal Rate of Return (IRR) and the Period of Return on Invested Capital (PBT). The economic assessment of the use of RES technologies was supplemented with the assessment of environmental benefits. The ecological criterion adopted in the study was the assessment of the potential and costs of reducing greenhouse gas emissions as a result of replacing fossil fuels with renewable energy technologies. On the basis of the constructed economic model to assess the profitability of investments, it has been shown that the analyzed projects will start to bring, depending on their type and technical specification, measurable economic benefits in the form of a reduction in the amount of energy purchased on an annual basis and environmental benefits in the form of reduction of carbon dioxide emissions to the atmosphere. Moreover, the calculations show a high potential for the use of certain renewable sources in Poland, which contributes to the fulfillment of energy and emission obligations towards the EU. The analyzes and research of the Polish energy market with the use of the presented models have shown that the project is fully economically justified and will allow investors to make a rational decision on the appropriate selection of a specific renewable energy source for their investment. The presented economic models to assess the profitability of investments in renewable energy sources can be successfully used in other countries and can also be a starting point for a discussion about the direction of energy development. Due to the lack of collective, original and up-to-date research on the domestic market, the manuscript provides the reader with the necessary knowledge regarding the legitimacy of using renewable energy sources, investment and environmental profitability.

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Influence of Photovoltaic Development on Decarbonization of Power Generation—Example of Poland

Energies ◽

10.3390/en14227819 ◽

2021 ◽

Vol 14 (22) ◽

pp. 7819

Author(s):

Grzegorz Lew ◽

Beata Sadowska ◽

Katarzyna Chudy-Laskowska ◽

Grzegorz Zimon ◽

Magdalena Wójcik-Jurkiewicz

Keyword(s):

Renewable Energy ◽

Co2 Emissions ◽

Renewable Energy Sources ◽

Developed Countries ◽

Environmental Benefits ◽

Energy Sources ◽

Computer Assisted ◽

The European Union ◽

Leading Role ◽

Willingness To Use

Climate change is becoming a global problem. In many countries, actions are taken with the main aim of reducing CO2 emissions. The main action, especially in developed countries, is decarbonization. The European Union has become one of the organizations that plays a leading role in decarbonization of the economy. For this reason, renewable energy sources are being intensively developed in the EU countries. Solar energy with the use of PV installations is developing the fastest. Poland is one of the European leaders in photovoltaic development, and according to estimates for 2021–2025, it will continue to be. The aim of this study was to find out the opinions of people toward actions related to the decarbonization policy in Poland. These opinions were obtained through the prism of respondents’ attitudes toward energy produced by means of PV micro-installations. A questionnaire survey was used in this research. The survey was conducted using the CAWI (Computer-Assisted Web Interview) technique. To analyze the results of the study, a Kruskal–Wallis ANOVA test and U–Mann Whitney test were used. Responses were obtained from 633 people. The results obtained from the survey allowed us to draw conclusions, which include the following: (1) a lack of general conviction of respondents about the effectiveness of Poland’s decarbonization policy on reducing global CO2 emissions, especially among those who show a higher willingness to use PV installations, (2) the willingness to use PV installations is motivated by economic rather than environmental benefits, (3) the need for more widespread public campaigns aimed at promoting the benefits of decarbonization and renewable energy sources, and (4) the finding that the respondents’ region of residence (with a different degree of insolation) mattered for the willingness to use PV installations.

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Harnessing Renewable Energy at Kalasalingam Academy of Research and Education – A Role Model Case

Journal of Sustainability Perspectives ◽

10.14710/jsp.2021.11201 ◽

2021 ◽

Vol 1 (1) ◽

Author(s):

Neelakandan T.R. ◽

Pandiyarajan V ◽

Shasi Anand Sridharan ◽

Nagaraj Ramrao

Keyword(s):

Renewable Energy ◽

Solar Energy ◽

Energy Demand ◽

Role Model ◽

Carbon Sink ◽

Renewable Energy Sources ◽

Environmental Benefits ◽

Energy Sources ◽

Research And Education ◽

The Impact

Global energy demand and environmental concerns are the driving force for the use of alternative sustainable and ecofriendly renewable energy sources. Solar energy is the inexhaustible and CO2 emission free energy source worldwide. It produces significant environmental benefits in comparison to the conventional energy sources, thus contributing to the sustainable development of human activities. It produces clean and renewable power from the sun and benefits the environment without causing air and water pollution. Alternatives to fossil fuels reduce carbon foot print across the globe reducing emission of greenhouse gases and become ecofriendly. Solar power has attracted the largest share of new investments in solar energy across the world. This research article shows light on the solar energy sources developed by Kalasalingam Academy of Research and Education (KARE) for the effective utilization of solar energy in the campus and its impact on the reduction in carbon foot print and also the impact of green vegetation as a source of carbon sink for an ecofriendly campus.

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Analysis of the Return on Investment in Solar Collectors on the Example of a Household: The Case of Poland

Frontiers in Energy Research ◽

10.3389/fenrg.2021.660140 ◽

2021 ◽

Vol 9 ◽

Author(s):

Mariusz Niekurzak ◽

Ewa Kubińska-Jabcoń

Keyword(s):

Renewable Energy ◽

Carbon Dioxide Emissions ◽

Return On Investment ◽

Renewable Energy Sources ◽

Economic Benefits ◽

Green Energy ◽

Environmental Benefits ◽

Energy Sources ◽

Solar Collectors ◽

The Impact

Background: The growing consumption is what drives the development of unsustainable energy and material-intensive production technologies that emit large quantities of pollutants into the atmosphere, water, and land. Obtaining green energy allows reduction of the interference with the environment and, consequently, fits into a sustainable energy development strategy. In order to achieve the emission targets set by the EU for Poland, it is necessary to prioritize the development of renewable energy sources (RES) technologies within the energy sector.Methods: The purpose of the study was to present the results of the research relating to the return on investment of solar collectors for single-family houses in Poland. The research was presented on the basis of the legal conditions applicable to micro installations in the light of the amendment of the RES Act, and the impact of these amendments on the aspects of such investment was determined.Results: On the basis of the constructed economic model used to assess the return on investment of increasing the area of solar collectors, it has been shown that an operating installation will bring measurable economic benefits in the form of reduction in the amount of energy purchased annually in the amount of 6,756 kWh and environmental benefits in the form of reduction of carbon dioxide emissions to the atmosphere 2.4–3.6 Mg per year. An installation subsidized under the “My Electricity” program can reach an NPV of EUR 6,000 over 20 years at a discount rate r = 0 and assuming that the electricity is EUR 0.15/kWh. If the price rises to 0.2 EUR/kWh, the NPV will be 10,000 EUR. For the analyzed installation, the investment consisting in increasing the collector area in accordance with NPV is economically effective for the absorber area in the range of 5.6–7.6 m2 and reaches the maximum value for the absorber area of 6.6 m2, while the absorber area above 7 m2 contributes to reduce the value of the economic return on investment. The obtained results have been generalized, which allows to use them in the process of selecting the size of collector area for similar installations.Conclusion: The return on investment analysis carried out in respect of a detached house allowed to demonstrate that this project is fully justified. Furthermore, pursuant to the Renewable Energy Sources Act in force in Poland, treating a small entrepreneur as a prosumer who may generally take advantage of favorable conditions for discounting the produced energy leads to very favorable possibilities of settling electricity. Considering an entrepreneur as a prosumer who may use one-off depreciation of a solar collectors installation as a fixed asset and request for VAT refund is what makes such an investment very attractive in financial terms and makes it difficult to find a safe investment alternative characterized by such a high rate of return.

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Joint Optimal Allocation of Electric Vehicle Charging Stations and Renewable Energy Sources Including CO2 Emissions

Energy Informatics ◽

10.1186/s42162-021-00157-5 ◽

2021 ◽

Vol 4 (S2) ◽

Author(s):

Tayenne Dias de Lima ◽

John F. Franco ◽

Fernando Lezama ◽

João Soares ◽

Zita Vale

Keyword(s):

Renewable Energy ◽

Distribution Systems ◽

Renewable Energy Sources ◽

Environmental Benefits ◽

Mixed Integer ◽

Transport Sector ◽

Energy Sources ◽

Renewable Generation ◽

Charging Stations ◽

Ev Charging

AbstractIn the coming years, several transformations in the transport sector are expected, associated with the increase in electric vehicles (EVs). These changes directly impact electrical distribution systems (EDSs), introducing new challenges in their planning and operation. One way to assist in the desired integration of this technology is to allocate EV charging stations (EVCSs). Efforts have been made towards the development of EVCSs, with the ability to recharge the vehicle at a similar time than conventional vehicle filling stations. Besides, EVs can bring environmental benefits by reducing greenhouse gas emissions. However, depending on the energy matrix of the country in which the EVs fleet circulates, there may be indirect emissions of polluting gases. Therefore, the development of this technology must be combined with the growth of renewable generation. Thus, this proposal aims to develop a mathematical model that includes EVs integration in the distribution system. To this end, a mixed-integer linear programming (MILP) model is proposed to solve the allocation problem of EVCSs including renewable energy sources. The model addresses the environmental impact and uncertainties associated with demand (conventional and EVs) and renewable generation. Moreover, an EV charging forecast method is proposed, subject to the uncertainties related to the driver's behavior, the energy required by these vehicles, and the state of charge of the EVs. The proposed model was implemented in the AMPL modelling language and solved via the commercial solver CPLEX. Tests with a 24-node system allow evaluating the proposed method application.

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The Impact of the Financial Sector on the Development of the Industry of Renewable Energy

Scientific Research of Faculty of Economics. Electronic Journal ◽

10.38050/2078-3809-2018-10-2-88-98 ◽

2018 ◽

Vol 10 (2) ◽

pp. 88-98

Author(s):

Anna Baturevich ◽

Vsevolod Spirenkov ◽

Kseniya Stakhanova

Keyword(s):

Developing Countries ◽

Renewable Energy ◽

Financial Development ◽

Renewable Energy Sources ◽

Financial Sector ◽

Tidal Energy ◽

Environmental Benefits ◽

Energy Sources ◽

Total Production ◽

The Impact

Despite the long-term economic and environmental benefits of introducing renewable energy sources (RES), they are associated with many obstacles, one of which is hindered access to finance. This article examines the impact of the level of financial development on the renewable energy industry. An econometric analysis of data for 270 countries for 1987–2016 revealed a significant positive effect of various indicators of the development of the financial sector on the total production of renewable energy sources. In particular, the important role of the size of the banking industry and the size of the private lending sector has been revealed. It also revealed a significant impact of the level of financial development on wind, solar and tidal energy, and this effect is different in developed and developing countries. This work is a logical continuation of other works on this topic. There has never been an assessment of the use of renewable energy for such a large number of countries. Significant results were obtained for various indicators of the development of the financial sector. We were able to assess the difference in the use of renewable energy sources for developed and developing countries.

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Model for economic optimization and economic assessment of energy saving

E3S Web of Conferences ◽

10.1051/e3sconf/202124302009 ◽

2021 ◽

Vol 243 ◽

pp. 02009

Author(s):

Namitulina Anzhela Zahitovna ◽

Gorlov Viktor Vladimirovich ◽

Soklakova Irina Vladimirovna ◽

Natocheeva Natalia Nikolaevna ◽

Azhmuratova Madina Akhmambetovna

Keyword(s):

Renewable Energy ◽

Natural Resources ◽

Renewable Energy Sources ◽

Economic Assessment ◽

Environmental Benefits ◽

Global Perspective ◽

Energy Sources ◽

Negative Consequences ◽

Economic Optimization ◽

Current Crisis

The current energy scenario should be examined from a global perspective and include models for optimizing the development and development of major renewable energy sources. The complex structural elements of such models in terms of the structure of energy consumption should include economic and environmental benefits, as well as minimize costs and negative consequences. At the current crisis stage, access to energy sources is an important asset for economic progress and world development of all states. The depletion of natural resources, ecosystem and climate change lead to the need for scientific research in the field of sustainable development and the use of various models of energy conservation to achieve social and economic growth. Renewable energy sources such as solar, geothermal, wind and others are the basis for the development of new concepts and models for economic optimization and renewable energy. The key role in the implementation of such models is played by maintaining the ecological balance and renewing energy using natural and natural resources.

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Technical and Economic Assessment of Micro-Cogeneration Systems for Residential Applications

Sustainability ◽

10.3390/su12031074 ◽

2020 ◽

Vol 12 (3) ◽

pp. 1074 ◽

Cited By ~ 1

Author(s):

Pavel Atănăsoae

Keyword(s):

Renewable Energy ◽

Power Systems ◽

Renewable Energy Sources ◽

Environmental Benefits ◽

Energy Sources ◽

Reference Scenario ◽

Large Power ◽

Small Power ◽

Public Network ◽

Individual Household

The benefits of cogeneration or combined heat and power (CHP) of large power systems are well proven. The technical and economic viability of micro-cogeneration systems is discussed in this paper as it compares to the separate production of electricity and heat. A case study for an individual household is also provided to better understand the benefits of small power cogeneration from renewable energy sources. Two micro-CHP systems are considered for analysis: the first with Stirling engine, and the second with Rankine Organic Cycle. The reference scenario is an individual household with a gas boiler and electricity from the public network. The results show that it is possible that the payback period for the micro-CHP from renewable energy sources will fall below the accepted average value (<15 years) without the support schemes. The economic and environmental benefits of small power cogeneration systems compared to the traditional scenario are highlighted.

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Evaluation of the Profitability of Using Solar Collectors in Single-Family Housing Industry - The Case of Poland

10.21203/rs.3.rs-148682/v1 ◽

2021 ◽

Author(s):

Mariusz Niekurzak ◽

Ewa Kubińska-Jabcoń

Keyword(s):

Renewable Energy ◽

Carbon Dioxide Emissions ◽

Renewable Energy Sources ◽

Economic Benefits ◽

Green Energy ◽

Environmental Benefits ◽

Energy Sources ◽

Solar Collectors ◽

Single Family ◽

The Impact

Abstract Background: The growing consumption is what drives the development of unsustainable energy and material-intensive production technologies that emit large quantities of pollutants into the atmosphere, water and land. Obtaining green energy allows to reduce the interference with the environment and, consequently, fits into a sustainable energy development strategy. In order to achieve the emission targets set by the EU for Poland, it is necessary to prioritise the development of Renewable Energy Sources technologies within the energy sector.Methods: The purpose of the study is to present the results of the research relating to the profitability of solar collectors investment for single-family houses in Poland. The research was presented on the basis of the legal conditions applicable to micro installations in the light of the amendment of the RES Act and the impact of these amendments on the aspects of the profitability of such investment was determined. Results: On the basis of the constructed economic model used to assess the profitability of increasing the area of solar collectors, it has been shown that an operating installation will bring measurable economic benefits in the form of reduction in the amount of energy purchased from the current supplier and environmental benefits in the form of reduction of carbon dioxide emissions to the atmosphere. The obtained results have been generalised, which allows to use them in the process of selecting the size of collector area for similar installations. Conclusion: The cost-effectiveness analysis carried out in respect of a detached house allowed to demonstrate that this project is fully justified. Furthermore, pursuant to the Renewable Energy Sources Act in force in Poland, treating a small entrepreneur as a prosumer who may generally take advantage of favourable conditions for discounting the produced energy leads to very favourable possibilities of settling electricity. Considering an entrepreneur as a prosumer who may use one-off depreciation of a solar collectors installation as a fixed asset and request for VAT refund is what makes such an investment very attractive in financial terms and makes it difficult to find a safe investment alternative characterised by such a high rate of return.

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