scholarly journals Economic Model and Risk Analysis of Energy Investments Based on Cogeneration Systems and Renewable Energy Sources

Energies ◽  
2021 ◽  
Vol 14 (22) ◽  
pp. 7538
Author(s):  
Michał Gołębiewski ◽  
Marta Galant-Gołębiewska
Keyword(s):  
Risk Analysis ◽  
Negative Impact ◽  
Renewable Energy Sources ◽  
Organic Rankine Cycle ◽  
Rankine Cycle ◽  
Industrial Plant ◽  
Investment Risk ◽  
The European Union ◽  
Modernization Process ◽  
Distributed Production

Today, distributed energy production is a key activity supporting energy systems in many countries around the world. Applicable regulations, fees and subsidies encourage entrepreneurs to look for solutions that will reduce operating costs and limit their negative impact on the natural environment. In the article, it was decided to carry out a technical and economic analysis and investment risk analysis for the distributed production of electricity and heat based on natural gas. Six scenarios were taken into account, depending on the number of gas engines, the use of the photovoltaic installation and the Organic Rankine Cycle (ORC) system. It has been shown that the most advantageous of the presented solution is the use of a system adjusted to the power of an industrial plant (return on investment in 4th year). The least beneficial for the investor are solutions aimed at the use and resale of energy supplemented with photovoltaic panels and an ORC system. An investment risk analysis and a sensitivity analysis were also performed. It shows how changes in electricity and gas prices and the environmental fee affect the profitability of investments. It has been shown that solutions with variable power are characterised by the lowest investment risk. The summary indicates the possible activities leading to greater economic efficiency. Such actions will be forced in the future by the market, political and environmental situation. Analyses such as these will allow entrepreneurs to thoroughly prepare for the European Union energy modernization process.

Polityka klimatyczno-energetyczna Unii Europejskiej

2014 ◽  
pp. 104-121
Author(s):  
Aleksandra Kułaga
Keyword(s):  
Negative Impact ◽  
Renewable Energy Sources ◽  
Energy System ◽  
The Other ◽  
Energy Sources ◽  
Climate Protection ◽  
The European Union ◽  
Eu Member States ◽  
The Subject ◽  
Climate And Energy Policy

The article is devoted to the subject of the goals of the climate and energy policy of the European Union, which can have both a positive, and a negative impact on the environmental and energy policies. Positive aspects are the reduction of greenhouse gas emissions, diversification of energy supplies, which should improve Europe independence from energy imports, and increasing the share of renewable energy sources (RES) in the national energy system structures. On the other hand, overly ambitious targets and actions can lead to large losses for the economies of EU Member States. The article also highlights the realities prevailing in the international arena and noncompliance of international actors with global agreements on climate protection.

scholarly journals Features of application of ORC-technology at compressor stations of metallurgical enterprises

2021 ◽  
Vol 1 (1) ◽  
pp. 61-76
Author(s):  
I. S. Antanenkova ◽  
◽  
S. I. Svetogor ◽  
Keyword(s):  
Energy Efficiency ◽  
Negative Impact ◽  
Organic Rankine Cycle ◽  
Electrical Energy ◽  
Rankine Cycle ◽  
Iron And Steel ◽  
Energy Saving Potential ◽  
Internal Efficiency ◽  
Iron And Steel Works ◽  
Secondary Energy Resources

The use of secondary energy resources in metallurgy with their conversion into mechanical and / or electrical energy allows not only to reduce the negative impact on the environment, but also to significantly increase the energy efficiency of facilities. As a result the study design, the results of which are presented in this article defined the energy-saving potential at the compressor station metallurgical enterprises (on the example of the system of supply of technical gases of the process of production of rolled steel from iron ore PJSC Magnitogorsk Iron and Steel Works). A schematic solution and a method for determining the operating parameters of an installation operating according to the so-called "organic Rankine cycle" (ORC installation), which allows obtaining additional electrical energy for production needs by utilizing the heat of interstage cooling of compressor units, are proposed and justified. The features of the implementation of this technology are identified, and the working substance of the ORC installation that meets the requirements of safety and energy efficiency as much as possible is proposed for implementation. The values of the internal efficiency, the power of the ORC installation and the share of usefully utilized heat in the implementation of the proposed scheme are estimated.

scholarly journals The Situation of Households on the Energy Market in the European Union: Consumption, Prices, and Renewable Energy

Energies ◽  
2021 ◽  
Vol 14 (19) ◽  
pp. 6364
Author(s):  
Aleksandra Matuszewska-Janica ◽  
Dorota Żebrowska-Suchodolska ◽  
Agnieszka Mazur-Dudzińska
Keyword(s):  
Renewable Energy ◽  
Energy Consumption ◽  
Negative Impact ◽  
Renewable Energy Sources ◽  
Energy Market ◽  
Modern World ◽  
Energy Prices ◽  
The European Union ◽  
Eu Countries ◽  
The Eu

Energy plays a crucial role in the modern world. The acquisition and consumption of energy is unfortunately associated not only with economic development or the facilitation of everyday life, but also with a negative impact on the environment. To prevent these, measures are being taken which are part of a broad programme referred to as sustainable energy development (SED). A special place among energy consumers is occupied by households, as access to energy is a fundamental factor affecting the quality of life. The aim of this paper is to look at and assess the current situation of the household sector in the EU energy market in the context of SED and to point out similarities and differences between EU countries. The analysis considers factors based on SED indicators: final energy consumption per capita, energy prices offered to households, and the share of renewable energy in household energy consumption. The k-means method was used as a research tool. The results obtained indicate first of all that the EU countries are highly differentiated in terms of the analysed factors. It can be said that these differences result not only from the wealth of a given country, geographical location, or natural possibilities to use renewable energy sources, but mainly from the energy policies implemented in individual countries.

scholarly journals Analyzing the Impact of the Renewable Energy Sources on Economic Growth at the EU Level Using an ARDL Model

Mathematics ◽  
2020 ◽  
Vol 8 (8) ◽  
pp. 1367 ◽  
Author(s):  
Mihail Busu
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Regression Model ◽  
Negative Impact ◽  
Renewable Energy Sources ◽  
Energy Sources ◽  
The European Union ◽  
Causality Analysis ◽  
The Impact ◽  
The Eu

Energy is one of the most important drivers of economic growth, but as the population is increasing, in normal circumstances, in all countries of the world, there is a demand for energy produced from conventional resources. Increasing prices of conventional energy and the negative impact on the environment are two of the main reasons for switching to renewable energy sources (RESs). The aim of the paper is to quantify the impact of the RESs, by type, on the sustainable economic growth at the European Union (EU) level. The research was performed for all 28 EU member states, for a time frame from 2004 to 2017, through a panel autoregressive distributed lag (ARDL) approach and causality analysis. Furthermore, Hausman test was performed on the regression model. By estimating the panel data regression model with random effects, we reveal through our results that RESs, namely wind, solar, biomass, geothermal, and hydropower energy, have a positive influence on economic growth at EU level. Moreover, biomass has the highest impact on economic growth among all RES. In fact, a 1% increase in biomass primary production would impact the economic growth by 0.15%. Based on econometric analysis, our findings suggest that public policies at the EU level should be focused on investment in RESs.

scholarly journals Features of Investment Risk Analysis and Assessment

2021 ◽  
Author(s):  
Nargiza Shaislamova ◽  
Keyword(s):  
Risk Assessment ◽  
Risk Management ◽  
Risk Analysis ◽  
Evaluation Method ◽  
Negative Impact ◽  
Investment Risk ◽  
Investment Projects ◽  
Risk Management Process ◽  
Risk Management Methodology ◽  
Break Even Point

The article examines the essence of the analysis and assessment of the risks of investment projects in the innovative development of the country's economy. One of the most important tasks for investors in the context of the coronavirus crisis is the analysis, assessment and effective management of risks that can affect investment projects before investing. And also, the investor must identify the factors that negatively affect the project and develop measures to reduce their negative impact. Based on the above, it can be said that improving the risk management methodology and evaluating investment projects based on modern and best practices has become one of the urgent tasks. In this article, the author explains the essence of risk management and presents the main stages of risk management developed by foreign and domestic economists, and also expresses her own opinion about the stages of risk management of investment projects in the form of a scheme. The article also presents the content of the methods of risk analysis that are frequently used in practice. In particular, the author shows the essence of methods for assessing investment risks, such as Break-even point, the sensitivity analysis of the project, the method of Scenarios, the method for assessing the sustainability of the project, Expert evaluation method, Analogy method, and others. We can identify two aims of research: 1) to study the stages of investment risk management, developed by foreign and domestic scientists, and, on their basis, to propose the stages of risk management, developed by the author; 2) to study various methods of risk assessment, which are a key part of investment risk management, and develop proposals for their application in Uzbekistan. To achieve the objectives of the study, the following tasks were identified:  explain the content of the economic categories “risk” and “investment risk”;  explain the content of investment risk management;  study of the process (stages) of investment risk management, developed by foreign and domestic economists;  development by the author of the stages of the investment risk management process;  study and outline methods for assessing the risks of investment projects;  development of recommendations on the application of risk assessment methods in Uzbekistan. Subject of research: methods for assessing the risks of investment projects. Information sources for writing the research was books and articles by foreign and domestic economists.

scholarly journals The IRC-PD Tool: A Code to Design Steam and Organic Waste Heat Recovery Units

Energies ◽  
2021 ◽  
Vol 14 (18) ◽  
pp. 5611
Author(s):  
Youcef Redjeb ◽  
Khatima Kaabeche-Djerafi ◽  
Anna Stoppato ◽  
Alberto Benato
Keyword(s):  
Heat Recovery ◽  
Waste Heat Recovery ◽  
Waste Heat ◽  
Renewable Energy Sources ◽  
Safety Information ◽  
Organic Rankine Cycle ◽  
Rankine Cycle ◽  
Industrial Processes ◽  
Working Fluid ◽  
Energy Sources

The Algerian economy and electricity generation sector are strongly dependent on fossil fuels. Over 93% of Algerian exports are hydrocarbons, and approximately 90% of the generated electricity comes from natural gas power plants. However, Algeria is also a country with huge potential in terms of both renewable energy sources and industrial processes waste heat recovery. For these reasons, the government launched an ambitious program to foster renewable energy sources and industrial energy efficiency. In this context, steam and organic Rankine cycles could play a crucial role; however, there is a need for reliable and time-efficient optimization tools that take into account technical, economic, environmental, and safety aspects. For this purpose, the authors built a mathematical tool able to optimize both steam and organic Rankine units. The tool, called Improved Rankine Cycle Plant Designer, was developed in MATLAB environment, uses the Genetic Algorithm toolbox, acquires the fluids thermophysical properties from CoolProp and REFPROP databases, while the safety information is derived from the ASHRAE database. The tool, designed to support the development of both RES and industrial processes waste heat recovery, could perform single or multi-objective optimizations of the steam Rankine cycle layout and of a multiple set of organic Rankine cycle configurations, including the ones which adopt a water or an oil thermal loop. In the case of the ORC unit, the working fluid is selected among more than 120 pure fluids and their mixtures. The turbines’ design parameters and the adoption of a water- or an air-cooled condenser are also optimization results. To facilitate the plant layout and working fluid selection, the economic analysis is performed to better evaluate the plant economic feasibility after the thermodynamic optimization of the cycle. Considering the willingness of moving from a fossil to a RES-based economy, there is a need for adopting plants using low environmental impact working fluids. However, because ORC fluids are subjected to environmental and safety issues, as well as phase out, the code also computes the Total Equivalent Warming Impact, provides safety information using the ASHRAE database, and displays an alert if the organic substance is phased out or is going to be banned. To show the tool’s potentialities and improve the knowledge on waste heat recovery in bio-gas plants, the authors selected an in-operation facility in which the waste heat is released by a 1 MWel internal combustion engine as the test case. The optimization outcomes reveal that the technical, economic, environmental, and safety performance can be achieved adopting the organic Rankine cycle recuperative configuration. The unit, which adopts Benzene as working fluid, needs to be decoupled from the heat source by means of an oil thermal loop. This optimized solution guarantees to boost the electricity production of the bio-gas facility up to 15%.

Performance Analysis of OTEC Plants With Multilevel Organic Rankine Cycle and Solar Hybridization

2013 ◽  
Vol 135 (4) ◽  
Author(s):  
Paola Bombarda ◽  
Costante Invernizzi ◽  
Mario Gaia
Keyword(s):  
Water Flow ◽  
Cold Water ◽  
Renewable Energy Sources ◽  
Organic Rankine Cycle ◽  
Rankine Cycle ◽  
Warm Water ◽  
Late Nineteenth Century ◽  
Ocean Energy ◽  
Commercial Plant ◽  
Under Construction

Among the renewable energy sources, ocean energy is encountering an increasing interest. Several technologies can be applied in order to convert the ocean energy into electric power: among these, ocean thermal energy conversion (OTEC) is an interesting technology in the equatorial and tropical belt, where the temperature difference between surface warm water and deep cold water allows one to implement a power cycle. Although the idea is very old (it was first proposed in the late nineteenth century), no commercial plant has ever been built. Nevertheless, a large number of studies are being conducted at the present time, and several prototypes are under construction. A few studies concern hybrid solar-ocean energy plants: in this case, the ocean thermal gradient, which is usually comprised in the range 20–25 °C in the favorable belt, can be increased during daytime, thanks to the solar contribution. This paper addresses topics that are crucial in order to make OTEC viable, and some technical solutions are suggested and evaluated. The closed cycle option is selected and implemented by means of an organic Rankine cycle (ORC) power plant, featuring multiple ORC modules in series on the warm water flow; with a three-level cycle, the performance is approximately 30% better if compared to the single-level cycle. In addition, the hybrid solar-OTEC plant is considered in order to investigate the obtainable performance during both day and night operation; this option could provide efficiency benefit, allowing one to almost triplicate the energy produced during daytime for the same prescribed water flow.

scholarly journals Simulation of the Part Load Behavior of Combined Heat Pump-Organic Rankine Cycle Systems

Energies ◽  
2021 ◽  
Vol 14 (13) ◽  
pp. 3870
Author(s):  
Bernd Eppinger ◽  
Mustafa Muradi ◽  
Daniel Scharrer ◽  
Lars Zigan ◽  
Peter Bazan ◽  
...  
Keyword(s):  
Heat Pump ◽  
Mass Flow ◽  
Thermal Energy ◽  
Renewable Energy Sources ◽  
Organic Rankine Cycle ◽  
Rankine Cycle ◽  
Thermal Storage ◽  
Working Fluid ◽  
Part Load ◽  
Load Behavior

Pumped Thermal Energy Storages (PTES) are suitable for bridging temporary energy shortages, which may occur due to the utilization of renewable energy sources. A combined heat pump (HP)-Organic Rankine Cycle (ORC) system with suitable thermal storage offers a favorable way to store energy for small to medium sized applications. To address the aspect of flexibility, the part load behavior of a combined HP-ORC system, both having R1233zd(E) (Trans-1-chloro-3,3,3-trifluoropropene) as working fluid and being connected through a water filled sensible thermal energy storage, is investigated using a MATLAB code with integration of the fluid database REFPROP. The influence on the isentropic efficiency of the working machines and therefore the power to power efficiency (P2P) of the complete system is shown by variation of the mass flow and a temperature drop in the thermal storage. Further machine-specific parameters such as volumetric efficiency and internal leakage efficiency are also considered. The results show the performance characteristics of the PTES as a function of the load. While the drop in storage temperature has only slight effects on the P2P efficiency, the reduction in mass flow contributes to the biggest decrease in the efficiency. Furthermore, a simulation for dynamic load analysis of a small energy grid in a settlement is conducted to show the course of energy demand, supplied energy by photovoltaic (PV) systems, as well as the PTES performance indicators throughout an entire year. It is shown that the use of PTES is particularly useful in the period between winter and summer time, when demand and supplied photovoltaic energy are approximately equal.

THERMODYNAMIC CHARACTERISTICS OF MICROGAS TURBINE ENGINES COMBINED CYCLES FOR DISTRIBUTED ENERGY

2020 ◽  
Vol 4 (1) ◽  
pp. 28-41
Author(s):  
A.V. DOLOGLONYAN ◽  
V.T. MATVEENKO
Keyword(s):  
Renewable Energy Sources ◽  
Organic Rankine Cycle ◽  
Thermodynamic Characteristics ◽  
Rankine Cycle ◽  
Turbine Engines ◽  
Energy Sources ◽  
Distributed Energy ◽  
Combined Cycles ◽  
The Subject ◽  
Basic Configuration

The subject of this article is methods of complicating the cycles of microgas turbine plants (MGTP) in order to further increase their efficiency. The direction of a deeper utilization of the heat of exhaust gases from MGTP was chosen, turning it into work in the organic Rankine cycle (OCR) plant. It has been established that the costeffectiveness of MGTP with OCR is dependent on the configuration of MGTP, OCR and the type of refrigerant and is higher than the basic configuration of MGTP by 4... 15%. It is shown that to increase the versatility of combined MGTP, it is possible to use plants with a switching heat flow, supplemented by renewable energy sources, to conduct separate optimization of the basic MGTP and the OCR plant.

scholarly journals NUMERICAL INVESTIGATION OF A SOLAR-DRIVEN ORGANIC RANKINE CYCLE COUPLED TO A GEOTHERMAL FIELD

2021 ◽  
pp. 087
Author(s):  
Saša Pavlović ◽  
Evangelos Bellos ◽  
Milan Grozdanović
Keyword(s):  
Renewable Energy Sources ◽  
Organic Rankine Cycle ◽  
Rankine Cycle ◽  
Geothermal Field ◽  
Solar Irradiation ◽  
Thermodynamic Efficiency ◽  
Total Thermal Conductivity ◽  
Irradiation Level ◽  
Field Efficiency ◽  
Solar Field

The objective of this work is to investigate a solar-driven Organic Rankine Cycle (ORC) for power production with a geothermal well as the heat sink for the ORC condenser. The examined unit combines the exploitation of two renewable energy sources. Solar irradiation is exploited by using solar dish concentrators with spiral absorbers, while the geothermal field includes vertical boreholes with U-tubes. The system is investigated parametrically with a developed model in Engineering Equation Solver, and the examined parameters are the solar beam irradiation level, the total thermal conductivity of the ORC condenser, the borehole length, the number of the boreholes and the mean ground temperature. For the default scenario, it is found that system electrical efficiency is 21.45%, the ORC’s thermodynamic efficiency is 35.99%, and the solar field efficiency is 61.30%. Moreover, it is found that the examined system is 5.7% more efficient than a conventional air-cooled condenser system.

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