scholarly journals Identification and Prioritization of Risk and Its Effect of the Renewable Energy Life Cycle Based on Performance and Risk Indicators

2019 ◽  
Vol 2 (2) ◽  
pp. p61
Author(s):  
Hassan Farsijani ◽  
Maryam Moradi
Keyword(s):  
Risk Factors ◽  
Renewable Energy ◽  
Life Cycle ◽  
Electricity Market ◽  
Risk Control ◽  
Optimal Investment ◽  
Energy System ◽  
Risk Indicators ◽  
High Risk Factors ◽  
Investment Portfolios

Risk management consists of two aspects of risk control and risk assessment in the electricity market. So, risk control should cover the risk and work out of the way of optimal investment portfolios. Thus, the aim of this research is producing solar electricity life cycle profitability. First to identify existing risks in the production of electricity using Delphi technique between 300 experts in 15 Powerhouse. Then, the grey ANP model was the adoption of the New Energy Organization of Iran. The number of risk factors were collected by subject literature in renewable energy in Iran that have analyzed and selected the high-risk factors by ANP GREY method. Finally, to examine the life cycle of solar power, the authors analyzed financial indicators and the life cycle’s factors which relates to performance and risk variables, then, the Regression model used in three stages of life cycle. Finally, the result provides incentives for the energy system to support production renewable electricity and aid to increase the profitability of the renewable energy cycle.

Risk Analysis in Renewable Energy System (RES) Investment for a Developing Country: A Case Study in Pakistan

2020 ◽  
Vol 19 (2) ◽  
pp. 204-223
Author(s):  
Izzet Alp Gul ◽  
Gülgün Kayakutlu ◽  
M. Özgür Kayalica
Keyword(s):  
Risk Factors ◽  
Renewable Energy ◽  
Life Cycle ◽  
Risk Analysis ◽  
Fossil Fuels ◽  
Energy Transition ◽  
Energy System ◽  
Assessment Model ◽  
Infrastructure Investments

Technological improvements allow changing a significant part of the electricity generation investments to renewable energies. Especially in emerging markets and energy import-dependent countries, shift to renewable energy generation became more important to break the links of dependency. Pakistan relies on imported fossil fuels; however, the country’s experience and ambition about the renewable energy transition gain prominence in recent years. Considering the long-term life cycle of energy infrastructure investments, possible risk factors and their dynamic nature must be analysed before the financial decisions are taken. This article aims to propose a system dynamics model for the risk analysis of investment life cycle. In this study, possible risk factors are detected and discussed in different categories. The casual loop diagram of possible risk factors and risk assessment model are designed, and the impacts are analysed. Case study of the proposed model in Pakistan highlighted the importance of commercial risks. The results achieved through this study will guide investors, sector participants and policymakers to develop stable strategies for promoting renewable energy in the country. JEL: Q42, P48, O13

scholarly journals The electricity market in a renewable energy system

Energy ◽  
2018 ◽  
Vol 162 ◽  
pp. 148-157 ◽  
Author(s):  
Søren Djørup ◽  
Jakob Zinck Thellufsen ◽  
Peter Sorknæs
Keyword(s):  
Renewable Energy ◽  
Electricity Market ◽  
Energy System ◽  
Renewable Energy System

Shaping Our Future With Sustainable Energy: A Direction From Young Engineers

2012 ◽  
Author(s):  
Jan Fabian Feldhoff ◽  
Carina Hofmann ◽  
Stefan Hübner ◽  
Jan Oliver Kammesheidt ◽  
Martin Kilbane ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Electricity Market ◽  
Energy Demand ◽  
Power Plants ◽  
Sustainable Energy ◽  
Energy System ◽  
Local Context ◽  
Global Energy ◽  
Sustainable Energy System ◽  
The U.S

It is broadly accepted that current energy systems should become more sustainable in both a global and local context. However, setting common goals and shared objectives and determining the appropriate means by which to get there is the subject of heavy debate. Therefore, the American Society of Mechanical Engineers (ASME) and the German Association of Engineers (VDI) initiated a joint project aimed at providing a young engineers’ perspective to the global energy conversation. The young engineer project teams set a common goal of assembling a completely sustainable energy system for the U.S. and Germany by 2050. This includes not only the electricity market, but the overall energy system. Based on the current global energy paradigm, a completely sustainable energy system seems very ambitious. However, multiple analyses show that this path is possible and would in the medium to long run not only be desirable, but also competitive in the market. This future ‘energy puzzle’ consists of many important pieces, and the overall picture must be shaped by an overarching strategy of sustainability. Besides the many detailed pieces, four main critical issues must be addressed by engineers, politicians and everybody else alike. These challenges are: i) Rational use of energy: This uncomfortable topic is rather unappealing to communicate, but is a key issue to reduce energy demand and to meet the potentials of renewable energy carriers. ii) Balancing of electricity demand and generation: This is a challenge to the electricity markets and infrastructures that are currently designed for base-load, mainly fossil power plants. The overall mix of renewable energy generation, storage technologies, grid infrastructure, and power electronics will decide how efficient and reliable a future energy system will be. iii) Cost efficiency and competitiveness: It is a prerequisite for industrialized countries to stay competitive and to establish RE in the market. Developing economic technologies while at the same time establishing a strong RE market is the secret of success. iv) Acceptance of the system and its consequences: The best energy strategy cannot be realized without broad public acceptance for it. Therefore, the understanding of the energy technologies and an objective discussion must be promoted — without old fashioned emotionalizing of certain risks. The paper will present details on the four mentioned aspects, compare the situations between the U.S. and Germany, and propose solutions for appropriate political frame conditions to achieve a sustainable energy system.

scholarly journals Assessment of sustainability of different renewable energy systems based on life cycle exergy analysis

Tehnika ◽  
2021 ◽  
Vol 76 (5) ◽  
pp. 595-602
Author(s):  
Branislav Petrović ◽  
Milan Gojak
Keyword(s):  
Sustainable Development ◽  
Renewable Energy ◽  
Life Cycle ◽  
Exergy Analysis ◽  
Sustainability Assessment ◽  
Energy Systems ◽  
Electrical Energy ◽  
Energy System ◽  
Renewable Energy Resources ◽  
System Sustainability

The sustainable development of energy systems does not only involve the use of renewable energy resources but the increase in their efficiency as well, enabling society to maximise the benefits of their consumption. The production of electrical energy from clean and renewable sources contributes to lowered fossil fuel exploitation and the reduction of its damaging effect on the environment. This is a way to reach the global target of sustainable development - striking a balance between resource consumption and the achievable natural cycle regeneration. Environmental protection is in the focus of attention. Namely, when energy system sustainability is assessed, in addition to the ecological sustainability assessment (based on life cycle analysis - LCA), attention should be paid to the decrease in energy quality in energy processes (exergy loss). This paper presents the thermodynamic approach to energy system sustainability assessment by applying life cycle exergy analysis (LCEA). The key issue is the assessment of systems which use sustainable energy sources: the wind turbine and the stand-alone photovoltaic solar system.

scholarly journals Are We on the Right Track? Collective Self-Consumption and Energy Communities in the European Union

2021 ◽  
Vol 13 (22) ◽  
pp. 12494
Author(s):  
Dorian Frieden ◽  
Andreas Tuerk ◽  
Ana Rita Antunes ◽  
Vasilakis Athanasios ◽  
Alexandros-Georgios Chronis ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Electricity Market ◽  
National Level ◽  
Energy Transition ◽  
Clean Energy ◽  
Energy System ◽  
The European Union ◽  
High Expectations ◽  
The Right ◽  
The Eu

To accelerate the energy transition, the EU “Clean Energy for all Europeans” package aims to strengthen the involvement of end consumers in the energy market. To this end, together with so-called “active consumers” and provisions for individual and collective renewable energy self-consumption, two types of energy communities were introduced. The EU framework, however, leaves many details of the transposition process to the national level. The corresponding directives were supposed to be transposed by the end of December 2020 (recast Electricity Market Directive, defining active consumers and citizen energy communities) and by the end of June 2021 (Renewable Energy Directive, defining renewables self-consumption and renewable energy communities). In this paper, we critically discuss major developments of the transposition, including questions of the general distinction of the different concepts, governance and ownership, physical expansion, administrative barriers and the overall integration of energy communities into the energy system. The analysis builds on country case studies as well as on previous work by the authors on the status of the transposition process throughout the EU. The paper shows that the national approaches differ greatly and are at very different stages. While basic provisions are in place in most Member States to meet the fundamental EU requirements, the overall integration into the energy system and market is only partly addressed. This concerns, for instance, the analysis of system impacts of energy communities and measures that would allow and support energy system-friendly behaviour. In addition, several practical hurdles need to be overcome. These often relate to administrative requirements such as complex registration and licensing procedures, the need for the involvement of several institutions, or difficult procedures for access to relevant data. The paper concludes that discussed barriers will need to be carefully addressed if the high expectations for the role of energy communities are to be met.

scholarly journals Environmental Impact Evaluation of Distributed Renewable Energy System Based on Life Cycle Assessment and Fuzzy Rough Sets

Energies ◽  
2019 ◽  
Vol 12 (21) ◽  
pp. 4214 ◽  
Author(s):  
Chengzhou Li ◽  
Ningling Wang ◽  
Hongyuan Zhang ◽  
Qingxin Liu ◽  
Youguo Chai ◽  
...  
Keyword(s):  
Life Cycle Assessment ◽  
Renewable Energy ◽  
Life Cycle ◽  
Rough Sets ◽  
Environmental Effect ◽  
Evaluation Method ◽  
Energy System ◽  
Distributed Energy ◽  
Renewable Energy System ◽  
Distributed Energy System

The distributed renewable energy system, integrating various renewable energy resources, is a significant energy supply technology within energy internet. It is an effective way to meet increasingly growing demand for energy conservation and environmental damage reduction in energy generation and energy utilization. In this paper, the life cycle assessment (LCA) method and fuzzy rough sets (FRS) theory are combined to build an environmental evaluation model for a distributed renewable energy system. The ReCiPe2016 method is selected to calculate the environmental effect scores of the distributed energy system, and the FRS is utilized to identify the crucial activities and exchanges during its life cycle from cradle to grave. The generalized evaluation method is applied to a real-world case study, a typical distributed energy system located in Yanqing District, Beijing, China, which is composed of wind power, small-scale hydropower, photovoltaic, centralized solar thermal power plant and a biogas power plant. The results show that the environmental effect of per kWh power derived from the distributed renewable energy system is 2.06 × 10−3 species disappeared per year, 9.88 × 10−3 disability-adjusted life years, and 1.75 × 10−3 USD loss on fossil resources extraction, and further in the uncertainty analysis, it is found that the environmental load can be reduced effectively and efficiently by improving life span and annual utilization hour of power generation technologies and technology upgrade for wind turbine and photovoltaic plants. The results show that the proposed evaluation method could fast evaluate the environmental effects of a distributed energy system while the uncertainty analysis with FRS successfully and effectively identifies the key element and link among its life span.

The New Zealand Electricity Market: Challenges of a Renewable Energy System

2019 ◽  
Vol 17 (1) ◽  
pp. 43-52 ◽  
Author(s):  
Andy Philpott ◽  
Grant Read ◽  
Stephen Batstone ◽  
Allan Miller
Keyword(s):  
Renewable Energy ◽  
New Zealand ◽  
Electricity Market ◽  
Energy System ◽  
Renewable Energy System
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