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

Economic Benefits ◽

Green Energy ◽

Environmental Benefits ◽

Energy Sources ◽

Solar Collectors ◽

Single Family ◽

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.

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 ◽

Return On Investment ◽

Economic Benefits ◽

Green Energy ◽

Environmental Benefits ◽

Energy Sources ◽

Solar Collectors ◽

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.

The Potential of Using Renewable Energy Sources in Poland Taking into Account the Economic and Ecological Conditions

Energies ◽

10.3390/en14227525 ◽

2021 ◽

Vol 14 (22) ◽

pp. 7525

Author(s):

Mariusz Niekurzak

Keyword(s):

Renewable Energy ◽

Fossil Fuels ◽

Technical Specification ◽

Economic Benefits ◽

Environmental Benefits ◽

Energy Sources ◽

Renewable Sources ◽

Starting Point

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.

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 ◽

Environmental Benefits ◽

Energy Sources ◽

Research And Education ◽

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.

Opportunities and Challenges of Flexible Electricity-Based Fuel Production for the European Power System

Sustainability ◽

10.3390/su12239844 ◽

2020 ◽

Vol 12 (23) ◽

pp. 9844

Author(s):

Maximilian Borning ◽

Larissa Doré ◽

Michael Wolff ◽

Julian Walter ◽

Tristan Becker ◽

...

Keyword(s):

Renewable Energy ◽

Power System ◽

Power Plants ◽

Large Scale ◽

Energy Sources ◽

Fuel Production ◽

Climate Neutrality ◽

To mitigate global warming, the European Union aims at climate neutrality by 2050. In order to reach this, the transportation sector has to contribute especially, which accounts for about a quarter of the European greenhouse gas emissions. Herein, electricity-based fuels are a promising approach for reducing emissions. However, a large-scale deployment of electricity-based fuels has a significant impact on the power system due to high electricity demand and the requirement to use renewable energy sources in order to be sustainable. At the same time, this fuel production could offer additional flexibility for the power system. This article investigates the opportunities and challenges of electricity-based fuels and flexible electricity-based fuel production for the European power system. In a literature analysis, the pivotal role of electricity-based fuels for climate neutrality is confirmed. To analyze the impact of flexible fuel production, European power market simulations for the year 2035 are conducted. Results indicate that flexibilization leads to an increased integration of electricity based on renewable energy sources as well as reductions in both carbon dioxide emissions and total operational costs of the power system. However, very high flexibility levels also benefit high-emission power plants and may even lead to increased emissions.

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 ◽

Financial Sector ◽

Tidal Energy ◽

Environmental Benefits ◽

Energy Sources ◽

Total Production ◽

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.

Wind is an alternative source of energy

Power and Autonomous equipment ◽

10.32464/2618-8716-2019-2-1-40-49 ◽

2019 ◽

Vol 2 (1) ◽

pp. 40-49

Author(s):

J. S. Gribach ◽

O. O. Egorychev ◽

E. V. Kurguzova

Keyword(s):

Carbon Dioxide ◽

Renewable Energy ◽

Wind Power ◽

Wind Turbines ◽

Alternative Energy ◽

Mechanical Energy ◽

Economic Benefits ◽

Energy Sources

Introduction: today, one of the most important problems of the world economy is a limited amount of traditional fuels, due to the consumption of which the needs of humanity for energy are being met. The chapter “Introduction” contains the definition of the term “alternative energy”, which is a set of ways to generate energy when using renewable energy sources. This chapter presents the need to search for renewable energy sources that will increase the ecological potential of the territories, as well as the energy and economic component. The prospects for the use of renewable energy sources have been highlighted, among which one of the most common alternative energy sources is wind. Methods: the chapter “Methods” describes the principles of operation of wind turbines. This chapter describes in detail the process of converting wind energy into mechanical energy. Also in the chapter “Methods” is a classification of existing installations along the axis of rotation with a description of the operation of each of them and highlighted four main ways to transfer wind power to the consumer. Results and discussions: the chapter “Results and Discussions” contains information on the economic benefits of using wind turbines in Russia, as well as a list of favorable regions for the creation of wind power stations. The structure of this chapter includes information on the environmental feasibility of the use of wind power plants, since wind generators compensate for carbon dioxide emissions. Conclusion: in the “Conclusion” presents conclusions that allow you to determine the positive aspects of the use of wind turbines, which include environmental friendliness, efficiency and affordability. It should be emphasized that the wind generator compensates for carbon dioxide emissions associated with its production, so that the use of this type of installation will create the most clean environment.

Impact of location characteristics on renewable energy production for a group of buildings

E3S Web of Conferences ◽

10.1051/e3sconf/201911600084 ◽

2019 ◽

Vol 116 ◽

pp. 00084

Author(s):

Krystian Szczerbak

Keyword(s):

Renewable Energy ◽

Heat Pump ◽

Energy Demand ◽

Heat Pumps ◽

Hot Water ◽

Energy Sources ◽

Solar Collectors ◽

Single Family ◽

Northern Regions

The climate in Poland is slightly disparate in each region. The differences in temperature not always come along with the intensity of solar radiation in 5 climate zones. South of the country is colder, but well irradiated by the Sun and northern regions have milder climate, but are less irradiated. This fact alone makes people consider the suitability and safety of using renewable energy sources such as air-to-water heat pumps, solar collectors and photovoltaics instead of more traditional, fossil fuel powered sources. This paper presents a comparison analysis of energy demand and the cost for heating in a group of single-family buildings by 4 variants (gas boiler, gas boiler and solar collectors, air-to-water heat pump, air-to-water heat pump and photovoltaics) in 5 chosen cities in each polish climate zone. Calculations were done for space heating and domestic hot water energy demand, CO2 emissions and cumulative costs for all variants and locations. The results confirm the inconsistency of polish climate and have shown profitability and utility of renewable energy sources.

Potential of investments into renewable energy sources

Problems and Perspectives in Management ◽

10.21511/ppm.18(2).2020.06 ◽

2020 ◽

Vol 18 (2) ◽

pp. 57-63

Author(s):

Dominika Čeryová ◽

Tatiana Bullová ◽

Izabela Adamičková ◽

Natália Turčeková ◽

Peter Bielik

Keyword(s):

Renewable Energy ◽

Technical Efficiency ◽

Electricity Generation ◽

Stochastic Frontier Analysis ◽

Green Energy ◽

Energy Sources ◽

Frontier Analysis ◽

The World ◽

Greening the economy requires green innovations, and innovations require investments. Most countries of the world are still relying on conventional (fossil-based) sources of energy. The transition toward green or renewable energy sources is an effective and innovative way to meet ever-increasing demand as a result of the rising population. Another reason for innovations in the field of green energy is the need to mitigate climate change and avoid pollution, especially in developing countries. The monitored investments into renewable energy sources are usually public. Therefore, this paper aims to determine whether the selected countries of the world produced renewable energy efficiently, considering the investments made by public financial institutions and installed electricity capacity for renewable energy sources, for the period 2013–2017 (for a deeper analysis, the year 2017 was chosen). For this purpose, the Stochastic Frontier Analysis model in the logarithmic form of the Cobb-Douglas production function is used, which helps to judge the competitiveness of countries based on effectively transforming the inputs into outputs. Results suggest that the effect of the first variable “installed electricity capacity” on electricity generation was highly statistically significant, and the impact of the second variable “public investments” was characterized as statistically insignificant. The monitored countries were divided into 10 groups according to the different range of estimated output-oriented technical efficiency from 0.00 to 1.00. Most countries should increase the renewable electricity generation approximately by 40-49%, given the level of inputs (16 countries of 6th group with estimated output-oriented technical efficiency 0.51-0.60) for the year 2017.

Kazakhstan: Assessment of Renewable Energy Support and a Green Economy

Journal of Environmental Management and Tourism ◽

10.14505//jemt.v12.3(51).03 ◽

2021 ◽

Vol 12 (3) ◽

pp. 631

Author(s):

Sergey BESPALYY

Keyword(s):

Economic Growth ◽

Renewable Energy ◽

Power Plants ◽

The State ◽

Green Economy ◽

Energy Sources ◽

Environmentally Sustainable ◽

The Government ◽

The growth of renewable energy sources (RES) shows the desire of the government of Kazakhstan to meet challenges that affect the welfare and development of the state. National targets, government programs, policies influence renewable energy strategies. In the future, renewable energy technologies will act as sources of a green economy and sustainable economic growth. The state policy in the field of energy in Kazakhstan is aimed at improving the conditions for the development and support of renewable energy sources, amendments are being made to provide for the holding of auctions for new RES projects, which replaces the previously existing system of fixed tariffs. It is expected that the costs of traditional power plants for the purchase of renewable energy will skyrocket, provided that the goals in the field of renewable generation are achieved. This article provides an assessment of international experience in supporting renewable energy sources, as well as analyzes the current situation in the development of renewable energy in Kazakhstan and the impact on sustainable development and popularization of the «green» economy. The study shows that by supporting the development of renewable energy sources, economic growth is possible, which is achieved in an environmentally sustainable way.

Wind Data Analysis and Wind Flow Simulation Over Large Areas

Mathematical Modelling in Civil Engineering ◽

10.2478/mmce-2014-0005 ◽

2014 ◽

Vol 10 (1) ◽

pp. 38-45

Author(s):

Angel Terziev ◽

Ivan Antonov ◽

Rositsa Velichkova

Keyword(s):

Renewable Energy ◽

Wind Energy ◽

Energy Sources ◽

Wind Flow ◽

Energy Potential ◽

Wind Potential ◽

Wind Energy Potential ◽

Abstract Increasing the share of renewable energy sources is one of the core policies of the European Union. This is because of the fact that this energy is essential in reducing the greenhouse gas emissions and securing energy supplies. Currently, the share of wind energy from all renewable energy sources is relatively low. The choice of location for a certain wind farm installation strongly depends on the wind potential. Therefore the accurate assessment of wind potential is extremely important. In the present paper an analysis is made on the impact of significant possible parameters on the determination of wind energy potential for relatively large areas. In the analysis the type of measurements (short- and long-term on-site measurements), the type of instrumentation and the terrain roughness factor are considered. The study on the impact of turbulence on the wind flow distribution over complex terrain is presented, and it is based on the real on-site data collected by the meteorological tall towers installed in the northern part of Bulgaria. By means of CFD based software a wind map is developed for relatively large areas. Different turbulent models in numerical calculations were tested and recommendations for the usage of the specific models in flows modeling over complex terrains are presented. The role of each parameter in wind map development is made. Different approaches for determination of wind energy potential based on the preliminary developed wind map are presented.