scholarly journals Towards a Blockchain Weather Derivative Financial Instrument for Hedging Volumetric Risks of Solar Power Producers

2021 ◽  
Author(s):  
Olakunle Alao ◽  
Paul Cuffe
Keyword(s):  
Solar Radiation ◽  
Solar Power ◽  
Preliminary Investigation ◽  
Over The Counter ◽  
Financial Instrument ◽  
Credit Risks ◽  
Smart Contract ◽  
Payoff Structure ◽  
Swap Contracts ◽  
Economical Alternative

The weather-dependent nature of solar power makes Solar Power Producers susceptible to the unpredictability of sunshine. Temperature-based weather derivatives have recently emerged as an effective volumetric risk cross-hedge for Solar Power Producers, given that temperature positively correlates with solar radiation. Temperature-based put and call options, mostly traded on organized exchanges, require users to pay premiums that are costly and difficult to price. Swap contracts can serve as an economical alternative since they do not require premiums. However, they are only traded over-the-counter and are thus illiquid and liable to counterparty credit risks. For these reasons, a novel blockchain temperature-based weather derivative swap marketplace is proposed that mitigates the risks inherent in traditional swap contracts. The payoff structure and governing mechanisms of the smart contract that underpins this instrument are also developed. A preliminary investigation of this new financial instrument shows its efficacy in hedging volumetric risks of Solar Power Producers.

scholarly journals Towards a Blockchain Weather Derivative Financial Instrument for Hedging Volumetric Risks of Solar Power Producers

2021 ◽  
Author(s):  
Olakunle Alao ◽  
Paul Cuffe
Keyword(s):  
Solar Radiation ◽  
Solar Power ◽  
Preliminary Investigation ◽  
Over The Counter ◽  
Financial Instrument ◽  
Credit Risks ◽  
Smart Contract ◽  
Payoff Structure ◽  
Swap Contracts ◽  
Economical Alternative

The weather-dependent nature of solar power makes Solar Power Producers susceptible to the unpredictability of sunshine. Temperature-based weather derivatives have recently emerged as an effective volumetric risk cross-hedge for Solar Power Producers, given that temperature positively correlates with solar radiation. Temperature-based put and call options, mostly traded on organized exchanges, require users to pay premiums that are costly and difficult to price. Swap contracts can serve as an economical alternative since they do not require premiums. However, they are only traded over-the-counter and are thus illiquid and liable to counterparty credit risks. For these reasons, a novel blockchain temperature-based weather derivative swap marketplace is proposed that mitigates the risks inherent in traditional swap contracts. The payoff structure and governing mechanisms of the smart contract that underpins this instrument are also developed. A preliminary investigation of this new financial instrument shows its efficacy in hedging volumetric risks of Solar Power Producers.

scholarly journals Comparative Modeling of a Parabolic Trough Collectors Solar Power Plant with MARS Models

Energies ◽  
2017 ◽  
Vol 11 (1) ◽  
pp. 37 ◽  
Author(s):  
Jose Rogada ◽  
Lourdes Barcia ◽  
Juan Martinez ◽  
Mario Menendez ◽  
Francisco de Cos Juez
Keyword(s):  
Heat Transfer ◽  
Water Vapor ◽  
Power Plant ◽  
Solar Radiation ◽  
Thermal Energy ◽  
Power Plants ◽  
Solar Power ◽  
Rankine Cycle ◽  
Heat Transfer Fluid ◽  
Solar Field

Power plants producing energy through solar fields use a heat transfer fluid that lends itself to be influenced and changed by different variables. In solar power plants, a heat transfer fluid (HTF) is used to transfer the thermal energy of solar radiation through parabolic collectors to a water vapor Rankine cycle. In this way, a turbine is driven that produces electricity when coupled to an electric generator. These plants have a heat transfer system that converts the solar radiation into heat through a HTF, and transfers that thermal energy to the water vapor heat exchangers. The best possible performance in the Rankine cycle, and therefore in the thermal plant, is obtained when the HTF reaches its maximum temperature when leaving the solar field (SF). In addition, it is necessary that the HTF does not exceed its own maximum operating temperature, above which it degrades. The optimum temperature of the HTF is difficult to obtain, since the working conditions of the plant can change abruptly from moment to moment. Guaranteeing that this HTF operates at its optimal temperature to produce electricity through a Rankine cycle is a priority. The oil flowing through the solar field has the disadvantage of having a thermal limit. Therefore, this research focuses on trying to make sure that this fluid comes out of the solar field with the highest possible temperature. Modeling using data mining is revealed as an important tool for forecasting the performance of this kind of power plant. The purpose of this document is to provide a model that can be used to optimize the temperature control of the fluid without interfering with the normal operation of the plant. The results obtained with this model should be necessarily contrasted with those obtained in a real plant. Initially, we compare the PID (proportional–integral–derivative) models used in previous studies for the optimization of this type of plant with modeling using the multivariate adaptive regression splines (MARS) model.

Innovative Volumetric Solar Receiver Micro-Design Based on Numerical Predictions

2015 ◽  
Author(s):  
Raffaele Capuano ◽  
Thomas Fend ◽  
Bernhard Hoffschmidt ◽  
Robert Pitz-Paal
Keyword(s):  
Solar Radiation ◽  
Energy Demand ◽  
Large Scale ◽  
Solar Power ◽  
Numerical Models ◽  
Numerical Predictions ◽  
Proper Design ◽  
Global Increase ◽  
Solar Power Tower ◽  
Solar Receiver

Due to the continuous global increase in energy demand, Concentrated Solar Power (CSP) represents an excellent alternative, or add-on to existing systems for the production of energy on a large scale. In some of these systems, the Solar Power Tower plants (SPT), the conversion of solar radiation into heat occurs in certain components defined as solar receivers, placed in correspondence of the focus of the reflected sunlight. In a particular type of solar receivers, defined as volumetric, the use of porous materials is foreseen. These receivers are characterized by a porous structure called absorber. The latter, hit by the reflected solar radiation, transfers the heat to the evolving fluid, generally air subject to natural convection. The proper design of these elements is essential in order to achieve high efficiencies, making such structures extremely beneficial for the overall performances of the energy production process. In the following study, a parametric analysis and an optimized characterization of the structure have been performed with the use of self-developed numerical models. The knowledge and results gained through this study have been used to define an optimization path in order to improve the absorber microstructure, starting from the current in-house state-of-the-art technology until obtaining a new advanced geometry.

scholarly journals EFFECT OF TEMPERATURE, HUMIDITY AND IRRADIANCE ON SOLAR POWER GENERATION

2021 ◽  
Vol 26 (4) ◽  
pp. 113-119
Author(s):  
FRANK ONAIFO ◽  
AKPOFURE ALEXANDER OKANDEJI ◽  
OLAMIDE AJETUNMOBI ◽  
DAVID BALOGUN
Keyword(s):  
Power Generation ◽  
Solar Cells ◽  
Solar Cell ◽  
Solar Radiation ◽  
Solar Irradiance ◽  
Solar Power ◽  
Corrosion Process ◽  
Effect Of Temperature ◽  
Photovoltaic Solar Cell ◽  
Solar Power Generation

This paper studies the effect of temperature, humidity and irradiance on the power generated by a photovoltaic solar cell. This was achieved using pyranometer for determining the solar radiation, wet and dry thermometer for measuring humidity, and digital multimeter for voltage and current measurement. The result of the study show that power generation increases with increase of solar irradiance. Additionally, changes of humidity level and temperature do not significantly affect solar power generation. Furthermore, it was also observed that high temperatures and higher humidity levels accelerate the corrosion process on the solar cells which reduces the efficiency of the cells.

scholarly journals Improving the Efficiency of Solar Power Plants

2020 ◽  
Vol 30 (3) ◽  
pp. 480-497
Author(s):  
Dmitriy S. Strebkov ◽  
Yuriy Kh. Shogenov ◽  
Nikolay Yu. Bobovnikov
Keyword(s):  
Power Plant ◽  
Solar Radiation ◽  
Solar Energy ◽  
Power Plants ◽  
Solar Power ◽  
Horizontal Surface ◽  
Solar Power Plant ◽  
Utilization Factor ◽  
Working Surface ◽  
Solar Power Plants

Introduction. An urgent scientific problem is to increase the efficiency of using solar energy in solar power plants (SES). The purpose of the article is to study methods for increasing the efficiency of solar power plants. Materials and Methods. Solar power plants based on modules with a two-sided working surface are considered. Most modern solar power plants use solar modules. The reflection of solar radiation from the earth’s surface provides an increase in the production of electrical energy by 20% compared with modules with a working surface on one side. It is possible to increase the efficiency of using solar energy by increasing the annual production of electric energy through the creation of equal conditions for the use of solar energy by the front and back surfaces of bilateral solar modules. Results. The article presents a solar power plant on a horizontal surface with a vertical arrangement of bilateral solar modules, a solar power station with a deviation of bilateral solar modules from a vertical position, and a solar power plant on the southern slope of the hill with an angle β of the slope to the horizon. The formulas for calculating the sizes of the solar energy reflectors in the meridian direction, the width of the solar energy reflectors, and the angle of inclination of the solar modules to the horizontal surface are given. The results of computer simulation of the parameters of a solar power plant operating in the vicinity of Luxor (Egypt) are presented. Discussion and Conclusion. It is shown that the power generation within the power range of 1 kW takes a peak value for vertically oriented two-sided solar modules with horizontal reflectors of sunlight at the installed capacity utilization factor of 0.45. At the same time, when the solar radiation becomes parallel to the plane of vertical solar modules, there is a decrease in the output of electricity. The proposed design allows equalizing and increasing the output of electricity during the maximum period of solar radiation. Vertically oriented modules are reliable and easy to use while saving space between modules.

scholarly journals Performance and Economic Evaluation of Solar Rooftop Systems in Different Regions of Thailand

2019 ◽  
Vol 11 (23) ◽  
pp. 6647 ◽  
Author(s):  
Suntiti Yoomak ◽  
Theerasak Patcharoen ◽  
Atthapol Ngaopitakkul
Keyword(s):  
Power Generation ◽  
Economic Evaluation ◽  
Solar Radiation ◽  
Large Scale ◽  
Net Present Value ◽  
Solar Power ◽  
Electrical Energy ◽  
Solar Panels ◽  
Solar Power Generation ◽  
Generation Capacity

Solar rooftop systems in the residential sector have been rapidly increased in the term of installed capacity. There are various factors, such as climate, temperature, and solar radiation, that have effects on solar power generation efficiency. This paper presents a performance assessment of a solar system installed on the rooftop of residence in different regions of Thailand by using PSIM simulation. Solar rooftop installation comparison in different regions is carried out to evaluate the suitable location. In addition, three types of solar panels are used in research: monocrystalline, polycrystalline, and thin-film. The electrical parameters of real power and energy generated from the systems are investigated and analyzed. Furthermore, the economic evaluation of different solar rooftop system sizes using the monocrystalline module is investigated by using economic indicators of discounted payback period (DPP), net present value (NPV), internal rate of return (IRR), and profitability index (PI). Results show that the central region of Thailand is a suitable place for installing solar rooftop in terms of solar radiation, and the temperature has more solar power generation capacity than the other regions. The monocrystalline and polycrystalline solar panels can generate maximum power close to each other. All solar rooftop sizes with the Feed-in Tariff (FiT) scheme give the same DPP of 6.1 years, IRR of 15%, and PI of 2.57 which are better than the cases without the FiT scheme. However, a large-scale installation of solar rooftop systems can receive more electrical energy produced from the solar rooftop systems. As a result, the larger solar rooftop system sizes can achieve better economic satisfaction.

Ocular risks assessment in a central receiver solar power facility based on measured data of direct solar radiation

Solar Energy ◽  
2018 ◽  
Vol 164 ◽  
pp. 77-88 ◽  
Author(s):  
Danyela Samaniego Rascón ◽  
Almerindo D. Ferreira ◽  
Manuel C. Gameiro da Silva ◽  
Cuitlahuac Iriarte
Keyword(s):  
Solar Radiation ◽  
Solar Power ◽  
Measured Data ◽  
Direct Solar Radiation ◽  
Power Facility ◽  
Central Receiver ◽  
Risks Assessment
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