scholarly journals Willingness to Pay Price Premium for Smartphones Produced Using Renewable Energy

2019 ◽  
Vol 11 (6) ◽  
pp. 1566 ◽  
Author(s):  
Ju-Hee Kim ◽  
Hyo-Jin Kim ◽  
Seung-Hoon Yoo
Keyword(s):  
Renewable Energy ◽  
Willingness To Pay ◽  
Fossil Fuels ◽  
Price Premium ◽  
Fukushima Accident ◽  
Safety Issues ◽  
South Korean ◽  
Spike Model ◽  
Contingent Valuation Survey ◽  
The Cost

Due to air pollution and greenhouse gases issues associated with the use of fossil fuels and nuclear safety issues after the Fukushima accident, consumers are increasingly in favor of commodities produced using electricity generated from relatively expensive renewable energy (RE) rather than cheap fossil fuels or nuclear energy. This is usually called ‘RE100’. The objective of this study is to examine South Korean consumers’ willingness to pay (WTP) price premium for a RE100 commodity using the specific case of smartphones. We accomplished the purpose by conducting a contingent valuation survey of 1000 individuals in August 2018 and analyzing the data gathered from the survey. In addition, the spike model was applied to dealing with the zero WTP responses. Based on the analysis results, an average price premium was statistically significantly estimated to be KRW 11,699 (USD 10.5) for all respondents. This is worth 1.6% of the price for a conventional non-RE100 smartphone (KRW 750,000 or USD 673.9) and is higher than the cost increase (0.97%) when producing RE100 smartphones. Therefore, it can be seen that South Korean consumers have sufficient acceptance for RE100 smartphones.

scholarly journals Residential Consumers’ Willingness to Pay Price Premium for Renewable Heat in South Korea

2019 ◽  
Vol 11 (5) ◽  
pp. 1234 ◽  
Author(s):  
Hee-Hoon Kim ◽  
Seul-Ye Lim ◽  
Seung-Hoon Yoo
Keyword(s):  
Renewable Energy ◽  
South Korea ◽  
Willingness To Pay ◽  
Greenhouse Gas Emissions ◽  
Greenhouse Gas ◽  
Fossil Fuels ◽  
Price Premium ◽  
Gas Emissions ◽  
Residential Heating ◽  
The Cost

Heat accounts for about one-third of the final energy use and it is mostly produced using fossil fuels in South Korea. Thus, heat production is an important source of greenhouse gas emissions. However, using renewable heat that is directly produced from renewable energy, such as bioenergy, geothermal, or solar heat can save energy and reduce greenhouse gas emissions, rather than transforming conventional fuel into heat. Therefore, an energy policy for renewable heat urgently needs to be established. It is such situations that this paper attempts to assess the consumers’ additional willingness to pay (WTP) or the price premium for renewable heat over heat that is produced from fossil fuels for residential heating. To that end, a nationwide contingent valuation survey of 1000 households was conducted during August 2018. Employing the model allowing for zero WTP values, the mean of the additional WTP or premium for one Gcal of heat produced using renewable energy rather than fossil fuels was estimated to be KRW 3636 (USD 3.2), which is statistically meaningful at the 1% level. This value represents the price premium for renewable heat over heat that is based on fossil fuels. Given that the heat price for residential heating was approximately KRW 73,000 (USD 65.1) per Gcal at the time of the survey, the additional WTP or the price premium corresponds to about 5% of that. When considering that the cost of producing renewable heat is still significantly higher than the cost of producing fossil fuels-based heat, more efforts to lower the production costs of renewable heat as well as financial support of the government for producing and supplying renewable heat are needed to ensure residential consumers’ acceptance of renewable heat.

Energy After COVID

2020 ◽  
Vol 119 (820) ◽  
pp. 317-322
Author(s):  
Michael T. Klare
Keyword(s):  
Renewable Energy ◽  
Electric Vehicles ◽  
Fossil Fuels ◽  
Fossil Fuel ◽  
White Collar ◽  
Peak Oil ◽  
Business Travel ◽  
Reduce Energy Consumption ◽  
The Cost ◽  
Energy Companies

By transforming patterns of travel and work around the world, the COVID-19 pandemic is accelerating the transition to renewable energy and the decline of fossil fuels. Lockdowns brought car commuting and plane travel to a near halt, and the mass experiment in which white-collar employees have been working from home may permanently reduce energy consumption for business travel. Renewable energy and electric vehicles were already gaining market share before the pandemic. Under pressure from investors, major energy companies have started writing off fossil fuel reserves as stranded assets that are no longer worth the cost of extracting. These shifts may indicate that “peak oil demand” has arrived earlier than expected.

scholarly journals Designing high energy density flow batteries by tuning active-material thermodynamics

RSC Advances ◽  
2021 ◽  
Vol 11 (10) ◽  
pp. 5432-5443
Author(s):  
Shyam K. Pahari ◽  
Tugba Ceren Gokoglan ◽  
Benjoe Rey B. Visayas ◽  
Jennifer Woehl ◽  
James A. Golen ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Energy Storage ◽  
Energy Density ◽  
Fossil Fuels ◽  
Active Material ◽  
High Energy ◽  
Theoretical Framework ◽  
High Energy Density ◽  
Density Flow ◽  
The Cost

With the cost of renewable energy near parity with fossil fuels, energy storage is paramount. We report a breakthrough on a bioinspired NRFB active-material, with greatly improved solubility, and place it in a predictive theoretical framework.

scholarly journals A Simplified Method: System Size and Cost Estimation of Grid Connected Photovoltaic (GCPV) System

2019 ◽  
Vol 8 (4) ◽  
pp. 6240-6243
Keyword(s):  
Renewable Energy ◽  
Cost Estimation ◽  
Fossil Fuels ◽  
System Size ◽  
Net Energy ◽  
Simplified Method ◽  
Energy Metering ◽  
Electricity Power ◽  
The Cost ◽  
Net Energy Metering

There are various types of Renewable Energy (RE) that has been studied by many researchers in order to find a costeffective energy generation in reducing the non-renewable energy source. In this study, the solar energy was suggested in order to apply the Net Energy Metering (NEM) scheme that has been introduced effective on 1st January 2019, by Malaysian government in achieving 20% national RE target in electricity power mix, reducing the dependency on imported fossil fuels. Based on the data and results, the suitable size of solar panel for a house can be determined based on the daily electricity usage. The findings show that the system size and the cost itself also depends on the estimated amount solar generated set by the consumer.

scholarly journals Energy transition and willingness to pay for renewable energy: The case of environmental students

2021 ◽  
Vol 899 (1) ◽  
pp. 012048
Author(s):  
Evangelia Karasmanaki
Keyword(s):  
Social Media ◽  
Renewable Energy ◽  
Willingness To Pay ◽  
Energy Production ◽  
Fossil Fuels ◽  
Renewable Energy Sources ◽  
Energy Transition ◽  
Energy System ◽  
Electricity Production ◽  
Energy Sources

Abstract Examining willingness-to-pay (WTP) for renewable energy sources (RES) as well as views on energy topics can enable policymakers to design effective measures for facilitating the transition from fossil fuels to a renewable-based energy system. The aim of this study was to investigate environmental students’ willingness-to-pay for renewables and their views on various energy topics. Results showed that respondents preferred renewable-based electricity production to conventional energy production while solar energy emerged as the most preferred renewable type. In addition, most respondents were willing to pay for renewable energy but would pay relatively low sums of money per month. Moreover, respondents were divided over whether new lignite plants should be constructed in Greece. Finally, social media and special websites were the most favored media of daily information.

scholarly journals Households’ Willingness to Pay for Substituting Natural Gas with Renewable Methane: A Contingent Valuation Experiment in South Korea

Energies ◽  
2020 ◽  
Vol 13 (12) ◽  
pp. 3082
Author(s):  
Sung-Min Kim ◽  
Ju-Hee Kim ◽  
Seung-Hoon Yoo
Keyword(s):  
Natural Gas ◽  
South Korea ◽  
Willingness To Pay ◽  
Contingent Valuation ◽  
Fossil Fuel ◽  
Statistical Significance ◽  
Economic Approach ◽  
Face To Face ◽  
South Korean ◽  
Spike Model

South Korea is planning to substitute some residential natural gas (NG), a fossil fuel that relies on imports, with renewable methane (RM) from bio-gas, a renewable energy source. Thus, information about households’ willingness to pay (WTP) for implementing the plan is widely needed. This article, therefore, examines the WTP using an economic approach of contingent valuation (CV). More specifically, 1000 households were asked about the additional WTP for RM over NG through in-person face-to-face surveys across the country, adopting a dichotomous choice question format, during August 2018. As a few interviewees responded zero WTP for various reasons, a spike model that could reflect zero WTP observations was utilized. The household additional WTP for RM over NG was estimated, with statistical significance, as 191.46 Korean won (USD 0.17) per m3 and worth 31.9% of the average price of residential NG. This value means a price premium for RM compared to NG. In other words, this study found that South Korean consumers value residential RM about 1.32 times as much as residential NG. These results from the CV experiment could be a useful reference in establishing and implementing RM-related policies.

scholarly journals Hydrogen Storage by Reduction of CO2 to Synthetic Hydrocarbons

2021 ◽  
Vol 75 (3) ◽  
pp. 156-162
Author(s):  
Kun Zhao ◽  
Wen Luo ◽  
Noris Gallandat ◽  
Jie Zhang ◽  
Andreas Züttel
Keyword(s):  
Renewable Energy ◽  
Gas Phase ◽  
Heterogeneous Catalyst ◽  
Fossil Fuels ◽  
Supported Catalyst ◽  
Phase Reaction ◽  
Gas Phase Reaction ◽  
New Type ◽  
Reduction Of Co2 ◽  
The Cost

The storage of renewable energy is crucial for the substitution of fossil fuels with renewable energy. Hydrogen is the first step in the conversion of electricity from renewable sources to an energy carrier. However, hydrogen is technically and economically challenging to store, but can be converted with CO2 from the atmosphere or oceans to hydrocarbons. The heterogeneously catalyzed gas phase reaction and the electrochemical CO2 reduction are reviewed and the application of a new type of reactor is described. The mechanism of the gas phase CO2 reduction on a heterogeneous catalyst is shown in detail and the function of the supported catalyst is explained. Finally, an economic estimation on the cost of synthetic methane is presented which leads to a cost of 0.3 CHF/kWh in CH4.

The Other Side: Negative Impacts of Exploiting Renewable Energy Sources

2021 ◽  
Vol 6 (3) ◽  
pp. 30-33
Author(s):  
Orisa F. Ebube ◽  
Etim E. Akan
Keyword(s):  
Renewable Energy ◽  
Electricity Market ◽  
Fossil Fuels ◽  
Renewable Energy Sources ◽  
Global Scale ◽  
Green Energy ◽  
Insurance Companies ◽  
Energy Sources ◽  
Regulatory Policies ◽  
The Cost

The increasing demand for energy threatens the earth with climate change due to emission of greenhouse gases from the burning of fossil fuels. This has been the major driver for green energy. Renewable energy has the potential to reduce the negative effects of energy production on the environment at a global scale. However, the technology to harness the energy from renewable sources have only been well developed for the electricity market. Expanding the scope to supply other markets and sectors would lead to increase in demand on rare earth minerals which will reciprocally create negative environmental and socio-economic impacts.  In order to mitigate such impacts, strong regulatory policies will be required to control different aspects of renewable energy sources, the scale of production and footprint on the environment. Recycling renewable energy technology is a step in the right direction. However, the cost of recycling is found to be 5 times the cost of mining. This would affect the price of energy generated from renewable energy sources on a long run. A shift from fossil fuel would imply at least 20 trillion dollars in stranded assets which would trigger a financial collapse. This collapse would possibly lead to the complete loss of the oil, gas and coal industries, power producers, insurance companies and banks that hold loans for these industries.

Study of Autonomous Wind Energy Systems with Battery Storage (AWESBS) for Mountainous Rural Area Electrification in Algeria

2015 ◽  
Vol 4 (4) ◽  
pp. 1-20 ◽  
Author(s):  
Djohra Saheb Koussa ◽  
Mustapha Koussa ◽  
Seddik Hadji
Keyword(s):  
Renewable Energy ◽  
Fossil Fuels ◽  
Energy Costs ◽  
Battery System ◽  
Wind Speed Distribution ◽  
The Cost ◽  
Wind Energy Systems ◽  
Energy Equipment ◽  
Very High ◽  
Determinant Factor

This paper presents a simulation investigation of a specific AWESBS basing on MATLAB/SIMULINK software. The considered household load is situated in Bouzaréah in Algeria. An economic analysis has been also considered. As simulation results, it is observed that the coverage provided by the wind/battery system depends on the wind turbine nominal power. It is observed also that it depends on the local wind speed distribution as far as the economic results are concerned. It appears that the cost of the energy produced by the wind/battery system is very high (1.2 - 2.5 $/kWh) compared to those corresponding to conventional installations (0.4 $/kWh). This, however, is not to be considered as a negative determinant factor since the local authorities plan to manufacture renewable energy equipment locally and, by doing so, cancel the effects of subsidizing the local fossil fuels on the imported machines costs, which will in turn be favorably reflected on renewable energy costs.

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