Modeling Energy Portfolio Scoring

2015 ◽  
Vol 2 (4) ◽  
pp. 1-22 ◽  
Author(s):  
Rafael Diaz ◽  
Joshua G. Behr ◽  
Rafael Landaeta ◽  
Francesco Longo ◽  
Letizia Nicoletti
Keyword(s):  
Renewable Energy ◽  
Production Method ◽  
Economic Benefits ◽  
Dynamics Simulation ◽  
Electricity Production ◽  
Simulation Framework ◽  
Renewable Electricity ◽  
Hampton Roads ◽  
Support Policy ◽  
The Impact

U.S. regions are expected to follow the national trend towards investment in renewable energy as part of their electricity portfolio. The progress of energy portfolios that typically involves traditional methods, such as centralized nuclear and coal-fired generation, and towards cleaner- and renewable-source generation will impact economic growth and public health. Renewable electricity production must strike a balance among cost, reliability, and compatibility. The economic and health benefits obtained from developing an efficient energy portfolio make renewable energy alternatives an important consideration for regions endowed with natural resources. A portfolio mix of production method that considers the economic benefits while limiting adverse health and environmental impacts is attractive. This research proposes a System Dynamics simulation framework to support policy-making efforts in assessing the impact of energy portfolios. The authors demonstrate the utility of the framework by means of analyzing data that pertain to the U.S. Hampton Roads - Peninsula Region.

Modeling Energy Portfolio Scoring

2016 ◽  
pp. 203-226
Author(s):  
Rafael Diaz ◽  
Joshua G. Behr ◽  
Rafael Landaeta ◽  
Francesco Longo ◽  
Letizia Nicoletti
Keyword(s):  
Renewable Energy ◽  
Policy Making ◽  
Production Method ◽  
Economic Benefits ◽  
Dynamics Simulation ◽  
Electricity Production ◽  
Hampton Roads ◽  
Support Policy ◽  
The Impact ◽  
The U.S

U.S. regions are expected to follow the national trend towards investment in renewable energy as part of their electricity portfolio. The progress of energy portfolios that typically involves traditional methods, such as centralized nuclear and coal-fired generation, and towards cleaner- and renewable-source generation will impact economic growth and public health. Renewable electricity production must strike a balance among cost, reliability, and compatibility. The economic and health benefits obtained from developing an efficient energy portfolio make renewable energy alternatives an important consideration for regions endowed with natural resources. A portfolio mix of production method that considers the economic benefits while limiting adverse health and environmental impacts is attractive. This research proposes a System Dynamics simulation framework to support policy-making efforts in assessing the impact of energy portfolios. The authors demonstrate the utility of the framework by means of analyzing data that pertain to the U.S. Hampton Roads - Peninsula Region.

scholarly journals The Effect of Implementing a Feed-in Tariff in Abu Dhabi UAE

2016 ◽  
Vol 4 (2) ◽  
pp. 38
Author(s):  
Daisuke Sasaki ◽  
Gun Matsuo ◽  
Sameh El Khatib ◽  
Mikiyasu Nakayama
Keyword(s):  
Renewable Energy ◽  
Energy Security ◽  
Economic Benefits ◽  
Abu Dhabi ◽  
Levelized Cost Of Electricity ◽  
Cost Of Electricity ◽  
The World ◽  
Total Turnover ◽  
The Impact ◽  
Feed In Tariff

Although most countries in the world have been trying to introduce renewable energy into their power supplies to address issues related to the environment and energy security, the Middle East has the lowest overall renewable energy capacity in the world. However, there is currently a trend of accelerating renewable energy deployment with increased investment in the region for the purposes of improving energy security and independence and promoting long-term social and economic benefits. This study aims to examine the impact of implementing a feed-in tariff (FiT) in Abu Dhabi, United Arab Emirates. After a simulated test, it was found that the levelized cost of electricity (LCOE) and the current average unit cost of electricity were considerably divergent. That is to say, a large extra cost is incurred in order to deploy renewable energy in Abu Dhabi. In this context, the effectiveness of implementing a FiT in Abu Dhabi is confirmed. Furthermore, an estimation of the size of the renewable energy surcharge indicated that the impact of implementing a FiT would be enormous. For example, if the target rate of deploying renewable energy is set at 7%, a renewable energy surcharge equivalent to approximately one third of the total turnover of the electricity sector should be additionally imposed. It follows that the electricity rate will be raised by about thirty percent on average, unless subsidies are provided by the government.

scholarly journals Investigation of the Multi-Point Injection of Green Hydrogen from Curtailed Renewable Power into a Gas Network

Energies ◽  
2020 ◽  
Vol 13 (22) ◽  
pp. 6047 ◽  
Author(s):  
Ali Ekhtiari ◽  
Damian Flynn ◽  
Eoin Syron
Keyword(s):  
Green Energy ◽  
Active Management ◽  
Electricity Production ◽  
Renewable Electricity ◽  
Gas Network ◽  
Network Location ◽  
Network Parameters ◽  
Renewable Power ◽  
The Impact

Renewable electricity can be converted into hydrogen via electrolysis also known as power-to-H2 (P2H), which, when injected in the gas network pipelines provides a potential solution for the storage and transport of this green energy. Because of the variable renewable electricity production, the electricity end-user’s demand for “power when required”, distribution, and transmission power grid constrains the availability of renewable energy for P2H can be difficult to predict. The evaluation of any potential P2H investment while taking into account this consideration, should also examine the effects of incorporating the produced green hydrogen in the gas network. Parameters, including pipeline pressure drop, flowrate, velocity, and, most importantly, composition and calorific content, are crucial for gas network management. A simplified representation of the Irish gas transmission network is created and used as a case study to investigate the impact on gas network operation, of hydrogen generated from curtailed wind power. The variability in wind speed and gas network demands that occur over a 24 h period and with network location are all incorporated into a case study to determine how the inclusion of green hydrogen will affect gas network parameters. This work demonstrates that when using only curtailed renewable electricity during a period with excess renewable power generation, despite using multiple injection points, significant variation in gas quality can occur in the gas network. Hydrogen concentrations of up to 15.8% occur, which exceed the recommended permitted limits for the blending of hydrogen in a natural gas network. These results highlight the importance of modelling both the gas and electricity systems when investigating any potential P2H installation. It is concluded that, for gas networks that decarbonise through the inclusion of blended hydrogen, active management of gas quality is required for all but the smallest of installations.

scholarly journals Analysis of the Return on Investment in Solar Collectors on the Example of a Household: The Case of Poland

2021 ◽  
Vol 9 ◽  
Author(s):  
Mariusz Niekurzak ◽  
Ewa Kubińska-Jabcoń
Keyword(s):  
Renewable Energy ◽  
Carbon Dioxide Emissions ◽  
Return On Investment ◽  
Renewable Energy Sources ◽  
Economic Benefits ◽  
Green Energy ◽  
Environmental Benefits ◽  
Energy Sources ◽  
Solar Collectors ◽  
The Impact

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.

scholarly journals Renewable electricity in Western Balkans: Support policies and current state

2018 ◽  
Vol 22 (6 Part A) ◽  
pp. 2281-2296
Author(s):  
Nikola Rakic ◽  
Dusan Gordic ◽  
Vanja Sustersic ◽  
Mladen Josijevic ◽  
Milun Babic
Keyword(s):  
Renewable Energy ◽  
Electricity Market ◽  
Electricity Generation ◽  
Renewable Energy Sources ◽  
Energy Sources ◽  
Western Balkans ◽  
Renewable Electricity ◽  
Current State ◽  
Balkan Countries ◽  
The Impact

The use of renewable energy sources for electricity generation in the Western Balkan countries is analyzed in this review paper. Since those countries are part of EU or intend to be, data for Western Balkan are also compared with data for EU-28. The first part of the paper presents a brief overview of main promotion mechanism for electricity generation from renewable energy sources. As a dominant support policy, the feed-in tariff is more elaborated as an incentive measure and a de?tailed overview of the amount of tariffs and quotas for dominant technologies in the Western Balkan countries is presented. Furthermore, the current state of installed capacities and annual productions of three particular renewable electricity technologies (small hydro power, wind power, and solar photovoltaic) are analyzed in detailes. Based on presented data, there is a discussion and consideration of the impact of incentive measures on the electricity market and power production from renewable sources.

scholarly journals Evaluating the Effects of Economic and Financial Development on the Renewable Energy Consumption

2018 ◽  
Vol 10 (4) ◽  
pp. 65-76
Author(s):  
Polina I. Solovyeva ◽  
Anastasia V. Ulitkina
Keyword(s):  
Renewable Energy ◽  
Development Strategy ◽  
Financial Development ◽  
Electricity Consumption ◽  
Energy Markets ◽  
Financial Indicators ◽  
Renewable Electricity ◽  
Renewable Energy Consumption ◽  
Financial Indicator ◽  
The Impact

Nowadays renewable energy has become one of the key trends in the energy markets development strategy. The aim of this article is to analyze the impact of economic and financial development on the consumption of renewable electricity. We find that there is a certain set of economic and financial indicators that affects the amount of renewable electricity consumption, but final results depend on the surveyed group of countries. While estimating BRICS we find that there is a positive correlation between economic and financial development and the consumption of renewable electricity. The financial indicator of the share of liquid liabilities in GDP has the greatest impact on the renewable energy consumed.

scholarly journals Challenges in the Development of Hydropower in Selected European Countries

Water ◽  
2020 ◽  
Vol 12 (12) ◽  
pp. 3542
Author(s):  
Paweł Tomczyk ◽  
Mirosław Wiatkowski
Keyword(s):  
Renewable Energy ◽  
Energy Policy ◽  
Renewable Energy Sources ◽  
Electricity Production ◽  
The European Union ◽  
Change Factors ◽  
Hydropower Plants ◽  
Rational Management ◽  
Domestic Electricity ◽  
The Impact

Hydropower in Europe is playing an increasingly important role as a renewable source of energy. Its share of the final energy consumption varies from country to country, posing different challenges in each. The European Union member states are obliged, according to energy policy, to increase the share of renewable energy. This article presents the challenges related to the development of hydropower in four countries with different shares of domestic electricity production from hydropower plants: Albania (100% share in 2019), Slovenia (25.7%), Poland (1.1%), and Estonia (0.3%). Particular attention is paid to the issues of rational management of water resources in connection to Europe’s energy policy. As a result of the case study analysis, the challenges in the development of hydropower are identified, as well as ways to solve them. In addition, a comprehensive analysis of the impact of social, economic, environmental and climate change factors on the development of hydropower was conducted. At present, whether the assumed goals of the European Union’s energy policy will be achieved is impossible to determine for the whole of Europe. Achieving these goals will be possible only after individual countries prepare comprehensive reports on the topics of renewable energy sources, including hydropower.

scholarly journals Energy consumption and economic growth in Nigeria

2019 ◽  
Vol 1 (2) ◽  
pp. 01-09
Author(s):  
Emeka Nkoro ◽  
Nenubari Nenubari Ikue-John ◽  
God’sgrace I. Joshua
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Least Square ◽  
Electricity Production ◽  
Ordinary Least Square ◽  
Long Run ◽  
Production And Distribution ◽  
Short Run ◽  
The Impact

This paper investigated this disparity in the literature using Nigeria data from 1980 to 2016. In doing this, energy consumption was disaggregated, and their impacts on economic growth investigated using a modified Ordinary Least Square technique which allows for time gaps in the model. It was observed that only renewable energy impacted on economic growth in the long-run whereas non-renewable energy component impacted on economic growth in the short-run. Therefore, the study sees the impact of energy consumption on economic growth to be indistinct in Nigeria within the period under review. This further buttresses the need for improvement in electricity production and distribution in Nigeria. Given the importance of energy consumption on productivity, the study, therefore, suggests policies/measures that will bring about increasing the supply or improvement of energy production in the country.

scholarly journals Specific Features of Renewable Energy Development in the World and Russia

2021 ◽  
Vol 13 (5) ◽  
pp. 93-107
Author(s):  
Victoria I. Bushukina ◽  
Keyword(s):  
Renewable Energy ◽  
Power Plants ◽  
Renewable Energy Sources ◽  
Multivariate Regression Analysis ◽  
Electricity Production ◽  
Thermal Generation ◽  
Systematic Analysis ◽  
Energy Projects ◽  
The World ◽  
The Impact

The purpose of the article is to study the theoretical and practical aspects of investment activities in the field of renewable energy in the world and in Russia. To achieve this goal, during the development of theoretical material, a systematic analysis of existing approaches to the assessment of financing mechanisms for renewable energy projects was carried out. Statistical and econometric research tools include correlation analysis and multivariate regression analysis. The article examines the development of renewable energy, its benefits, and investments in the industry. The financial risks and barriers associated with financing renewable energy projects are considered. The development of the industry over the past 10 years is analyzed, taking into account the impact of the COVID-19 pandemic on the electricity industry in general and on renewable energy in a number of countries. It is established that the world is shifting to the use of renewable energy sources, and in Russia they are not being given due attention. It is revealed that the existing thermal generation units in Russia are of great age and are to be decommissioned in the near future. The current state of renewable energy in Russia, measures to support it and the rate of its development are investigated. The technical potential of wind and solar power plants in the Russian Federation is considered within the aim of diversifying electricity production. The factors that negatively affect the development of the renewable energy industry are identified.

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