Economic Assessment of Renewable Energy Projects

2022 ◽  
pp. 105-123
Author(s):  
Rui Castro
Keyword(s):  
Renewable Energy ◽  
Economic Assessment ◽  
Energy Projects

Renewable Energy on Tribal Lands: A Feasibility Study for a Biomass-to-Energy Plant on the Cocopah Reservation in Arizona

2019 ◽  
Vol 3 (1) ◽  
pp. 1-12
Author(s):  
Lauren K. D’Souza ◽  
William L. Ascher ◽  
Tanja Srebotnjak
Keyword(s):  
Renewable Energy ◽  
Alternative Energy ◽  
Renewable Energy Sources ◽  
The United States ◽  
Biomass Energy ◽  
Policy Support ◽  
Small Scale ◽  
Energy Plant ◽  
Energy Projects ◽  
Alternative Investment

Native American reservations are among the most economically disadvantaged regions in the United States; lacking access to economic and educational opportunities that are exacerbated by “energy insecurity” due to insufficient connectivity to the electric grid and power outages. Local renewable energy sources such as wind, solar, and biomass offer energy alternatives but their implementation encounters barriers such as lack of financing, infrastructure, and expertise, as well as divergent attitudes among tribal leaders. Biomass, in particular, could be a source of stable base-load power that is abundant and scalable in many rural communities. This case study examines the feasibility of a biomass energy plant on the Cocopah reservation in southwestern Arizona. It considers feedstock availability, cost and energy content, technology options, nameplate capacity, discount and interest rates, construction, operation and maintenance (O&M) costs, and alternative investment options. This study finds that at current electricity prices and based on typical costs for fuel, O&M over 30 years, none of the tested scenarios is presently cost-effective on a net present value (NPV) basis when compared with an alternative investment yielding annual returns of 3% or higher. The technology most likely to be economically viable and suitable for remote, rural contexts—a combustion stoker—resulted in a levelized costs of energy (LCOE) ranging from US$0.056 to 0.147/kWh. The most favorable scenario is a combustion stoker with an estimated NPV of US$4,791,243. The NPV of the corresponding alternative investment is US$7,123,380. However, if the tribes were able to secure a zero-interest loan to finance the plant’s installation cost, the project would be on par with the alternative investment. Even if this were the case, the scenario still relies on some of the most optimistic assumptions for the biomass-to-power plant and excludes abatement costs for air emissions. The study thus concludes that at present small-scale, biomass-to-energy projects require a mix of favorable market and local conditions as well as appropriate policy support to make biomass energy projects a cost-competitive source of stable, alternative energy for remote rural tribal communities that can provide greater tribal sovereignty and economic opportunities.

Assessment of bioenergy development potential in agricultural enterprises

2020 ◽  
pp. 165-171
Author(s):  
Iryna Hryhoruk
Keyword(s):  
Renewable Energy ◽  
Large Scale ◽  
Agricultural Waste ◽  
General Structure ◽  
Geographical Location ◽  
Economic Assessment ◽  
Energy Resources ◽  
Industrial Complex ◽  
Renewable Energy Resources ◽  
Energy Potential

Exhaustion of traditional energy resources, their uneven geographical location, and catastrophic changes in the environment necessitate the transition to renewable energy resources. Moreover, Ukraine's economy is critically dependent on energy exports, and in some cases, the dependence is not only economic but also political, which in itself poses a threat to national security. One of the ways to solve this problem is the large-scale introduction and use of renewable energy resources, bioenergy in particular. The article summarizes and offers methods for assessing the energy potential of agriculture. In our country, a significant amount of biomass is produced every year, which remains unused. A significant part is disposed of due to incineration, which significantly harms the environment and does not allow earning additional funds. It is investigated that the bioenergy potential of agriculture depends on the geographical distribution and varies in each region of Ukraine. Studies have shown that as of 2019 the smallest share in the total amount of conventional fuel that can be obtained from agricultural waste and products suitable for energy production accounts for Zakarpattya region - 172.5 thousand tons. (0.5% of the total) and Chernivtsi region - 291.3 thousand tons. (0.9%). Poltava region has the greatest potential - 2652.2 thousand tons. (7.8%) and Vinnytsia - 2623.7 thousand tons. (7.7%). It should be noted that the use of the energy potential of biomass in Ukraine can be called unsatisfactory. The share of biomass in the provision of primary energy consumption is very small. For bioenergy to occupy its niche in the general structure of the agro-industrial complex, it is necessary to develop mechanisms for its stimulation. In addition, an effective strategy for the development of the bioenergy sector of agriculture is needed. The article considers the general energy potential of agriculture, its indicative structure. The analysis is also made in terms of areas. In addition, an economic assessment of the possible use of existing potential is identified.

scholarly journals Techno-Economic Analysis of a Novel Hydrogen-Based Hybrid Renewable Energy System for Both Grid-Tied and Off-Grid Power Supply in Japan: The Case of Fukushima Prefecture

2020 ◽  
Vol 10 (12) ◽  
pp. 4061 ◽  
Author(s):  
Naoto Takatsu ◽  
Hooman Farzaneh
Keyword(s):  
Renewable Energy ◽  
Energy Demand ◽  
Renewable Energy Sources ◽  
Economic Assessment ◽  
Energy System ◽  
Modeling Framework ◽  
Integrated Simulation ◽  
Hybrid Renewable Energy System ◽  
Renewable Energy System ◽  
Hybrid Renewable Energy

After the Great East Japan Earthquake, energy security and vulnerability have become critical issues facing the Japanese energy system. The integration of renewable energy sources to meet specific regional energy demand is a promising scenario to overcome these challenges. To this aim, this paper proposes a novel hydrogen-based hybrid renewable energy system (HRES), in which hydrogen fuel can be produced using both the methods of solar electrolysis and supercritical water gasification (SCWG) of biomass feedstock. The produced hydrogen is considered to function as an energy storage medium by storing renewable energy until the fuel cell converts it to electricity. The proposed HRES is used to meet the electricity demand load requirements for a typical household in a selected residential area located in Shinchi-machi in Fukuoka prefecture, Japan. The techno-economic assessment of deploying the proposed systems was conducted, using an integrated simulation-optimization modeling framework, considering two scenarios: (1) minimization of the total cost of the system in an off-grid mode and (2) maximization of the total profit obtained from using renewable electricity and selling surplus solar electricity to the grid, considering the feed-in-tariff (FiT) scheme in a grid-tied mode. As indicated by the model results, the proposed HRES can generate about 47.3 MWh of electricity in all scenarios, which is needed to meet the external load requirement in the selected study area. The levelized cost of energy (LCOE) of the system in scenarios 1 and 2 was estimated at 55.92 JPY/kWh and 56.47 JPY/kWh, respectively.

scholarly journals A Decision Support Tool for Long-Term Planning of Marine Operations in Ocean Energy Projects

2021 ◽  
Vol 9 (8) ◽  
pp. 810
Author(s):  
Francisco X. Correia da Fonseca ◽  
Luís Amaral ◽  
Paulo Chainho
Keyword(s):  
Renewable Energy ◽  
Decision Support ◽  
Decision Support Tool ◽  
Ocean Energy ◽  
Support Tool ◽  
Marine Renewable Energy ◽  
Marine Energy ◽  
Energy Projects ◽  
Selection Algorithms ◽  
Maritime Infrastructure

Ocean energy is a relevant source of clean renewable energy, and as it is still facing challenges related to its above grid-parity costs, tariffs intended to support in a structured and coherent way are of great relevance and potential impact. The logistics and marine operations required for installing and maintaining these systems are major cost drivers of marine renewable energy projects. Planning the logistics of marine energy projects is a highly complex and intertwined process, and to date, limited advances have been made in the development of decision support tools suitable for ocean energy farm design. The present paper describes the methodology of a novel, opensource, logistic and marine operation planning tool, integrated within DTOceanPlus suite of design tools, and responsible for producing logistic solutions comprised of optimal selections of vessels, port terminals, equipment, as well as operation plans, for ocean energy projects. Infrastructure selection logistic functions were developed to select vessels, ports, and equipment for specific projects. A statistical weather window model was developed to estimate operation delays due to weather. A vessel charter rate modeling approach, based on an in-house vessel database and industry experience, is described in detail. The overall operation assumptions and underlying operating principles of the statistical weather window model, maritime infrastructure selection algorithms, and cost modeling strategies are presented. Tests performed for a case study based a theoretical floating wave energy converter produced results in good agreement with reality.

scholarly journals Renewable Energy Attitudes and Behaviour of Local Governments in Poland

Energies ◽  
2021 ◽  
Vol 14 (10) ◽  
pp. 2765
Author(s):  
Joanna Rakowska ◽  
Irena Ozimek
Keyword(s):  
Renewable Energy ◽  
Local Governments ◽  
Local Development ◽  
Local Level ◽  
Environmental Benefits ◽  
Local Authorities ◽  
The Public ◽  
Energy Behavior ◽  
Public Aid ◽  
Energy Projects

The deployment of renewable energy at the local level can contribute significantly to mitigating climate change, improving energy security and increasing social, economic and environmental benefits. In many countries local authorities play an important role in the local development, but renewable energy deployment is not an obligatory task for them. Hence there are two research questions: (1) Do local governments think investments in renewable energy (RE) are urgent and affordable within the local budgets? (2) How do they react to the public aid co-financing investments in renewable energy? To provide the answer we performed qualitative analysis and non-parametric tests of data from a survey of 252 local authorities, analysis of 292 strategies of local development and datasets of 1170 renewable energy projects co-financed by EU funds under operational programs 2007–2013 and 2014–2020 in Poland. Findings showed that local authorities’ attitudes were rather careful, caused by financial constraints of local budgets and the scope of obligatory tasks, which made renewable energy investments not the most urgent. Public aid was a factor significantly affecting local authorities’ behavior. It triggered local authorities’ renewable energy initiatives, increasing the number and scope of renewable energy investments as well cooperation with other municipalities and local communities. Despite this general trend, there were also considerable regional differences in local authorities’ renewable energy behavior.

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