scholarly journals Can renewable energy reduce the demand for crude oil: An analysis?

2021 ◽  
pp. 94-98
Author(s):  
Sumanta Bhattacharya ◽  
Bhavneet Kaur Sachdev
Keyword(s):  
Renewable Energy ◽  
Crude Oil ◽  
Electric Vehicles ◽  
Oil And Gas ◽  
Green Building ◽  
Green Technology ◽  
Electricity Production ◽  
Solar Panels ◽  
Plastic Bags ◽  
Fuel Industry

Demand for crude oil will plateau by 2040, where India will be the highest consumer with growing population, the whole world is dependent on crude oil, which dominant the world. Rise of price and petrol have an effect on every person. Oil is used in more than 6000 product which are part of our daily use from cell phone to tooth paste, curtains, electronic, make up products. Even for the construction of solar panels and wind tribunals component of oil is required. Electric vehicles require oil for their construction, oil has not yet found any alternative. It will take 25 years have all the transport running of electricity, which requires huge infrastructure, strong power grid to be formed. Drill and more exploration is taking place to take out oil, Google, Amazon and Microsoft have collaborate with the fuel industry for more drilling to take out oil and gas. There is being a reducing in the use of plastic bags, electricity is being produced using renewable energy, green technology, we have green building and adopting a nature based solution to become a carbon neutral world, well that can be applied in the case of electricity production which has helped India to electrified many of its villages and bring in electric vehicles. Even after this the oil industry will continue to dominant for the next 50 years or even more.

The Siren Song of Renewable Energy

2014 ◽  
Author(s):  
Michael H. Fox
Keyword(s):  
Renewable Energy ◽  
Nuclear Power ◽  
Fossil Fuels ◽  
Rocky Mountain ◽  
Electricity Production ◽  
The Sun ◽  
Solar Panels ◽  
Water Heater ◽  
Pv System ◽  
Energy Needs

Renewable energy from the sun—which includes solar, wind, and water energy— can meet all of our energy needs and will allow us to eliminate our dependence on fossil fuels for electricity production. At least, that is the “Siren song” that seduces many people. Amory Lovins, the head of the Rocky Mountain Institute, has been one of the strongest proponents of getting all of our energy from renewable sources (what he calls “soft energy paths”) (1) and one of the most vociferous opponents of nuclear power. A recent article in Scientific American proposes that the entire world’s needs for power can be supplied by wind, solar, and water (2). Is this truly the nirvana of unlimited and pollution-free energy? Can we have our cake and eat it, too? Let’s take a critical look at the issues surrounding solar and wind power. Let me be clear that I am a proponent of solar energy. I built a mountain cabin a few years ago that is entirely off the grid. All of the electricity comes from solar photovoltaic (PV) panels with battery storage. The 24 volt DC is converted to AC with an inverter and is fed into a conventional electrical panel. It provides enough energy to power the lights, run a 240 volt, three-quarter horsepower water pump 320 feet deep in the well, and electrical appliances such as a coffee pot, toaster, and vacuum cleaner. But I am not implying that all of my energy needs come from solar. The big energy hogs—kitchen range, hot water heater, and a stove in the bedroom—are all powered with propane. Solar is not adequate to power these appliances. In 2010 I also had a 2.5 kW solar PV system installed on my house that ties into the utility grid. When the sun is shining, I use the electricity from the solar panels, and if I use less than I generate, it goes out on the grid to other users. If it does not produce enough for my needs, then I buy electricity from the grid.

scholarly journals EDITORIAL

2012 ◽  
Vol 11 (1-2) ◽  
pp. 02
Author(s):  
J. V. C. Vargas
Keyword(s):  
Renewable Energy ◽  
Solar Energy ◽  
Oil And Gas ◽  
Photovoltaic Performance ◽  
Proton Exchange ◽  
Solar Panels ◽  
The Us ◽  
Efficiency Increase ◽  
Computer Processor ◽  
Oil And Gas Sector

Around the end of the twentieth century, nanotechnology appeared to be the new breakthrough, after the internet, for example. At that time, more efficient and affordable solar cells, green chemistry, quantum computing, lightweight composite aircraft, cell-size robots for medical applications were expected to be available soon. When the financial milestones did not become real, investors got disappointed and decided to rethink their plans. Yet today the perspectives are surprisingly upbeat. Currently, it is well known that restructuring matter at the nanoscale chemical and thermophysical properties change, so that systems that have no purpose at the macroscale, at the nanoscale become useful. In fact, several applications have already begun to appear such as in the oil and gas sector components, structured coatings, nanofluids, new cancer treatment drugs, and nanoviricides. Computer processor and memory manufacturers are already producing products with 32 nanometer components, so that the first commercial memristor (memory resistor) is expected to be launched at the end of 2013. In the renewable energy area, just to cite a few examples, low energy consumption nanostructured inexpensive LEDs are being developed to potentially last for years, carbon nanotubes have been used to drastically reduce precious materials content in proton-exchange fuel cell (PEMFC) electrodes and increase efficiency, and nanostructured thin films are being developed to boost photovoltaic performance and reduce costs, which demonstrated a 23.5 % efficient flexible solar panel operating a 2 MW pilot line at the National Renewable Energy Laboratory in the US. In comparison to market available 10 % efficient solar panels, this is a remarkable efficiency increase in capturing solar energy for practical use due to nanotechnology. This nanotechnological achievement challenges scientists to possibly change the currently fuel (fossil and bio) energy driven world into a solar energy driven one.

scholarly journals Development of Optimum Portfolio for Investment in Oil & Gas Sector (Investor’s View)

2019 ◽  
Vol 15 (2) ◽  
pp. 110-130
Author(s):  
Sumeet Gupta ◽  
Sourav Basak
Keyword(s):  
Renewable Energy ◽  
Crude Oil ◽  
Oil And Gas ◽  
Solar Power ◽  
Stock Exchange ◽  
Risk And Return ◽  
Markowitz Model ◽  
The World ◽  
Oil And Gas Companies ◽  
Oil And Gas Sector

With establishment of International Solar Alliance in New Delhi and due to the push given to renewable energy by the current government India has opened new dimension for innovation, investment and industry. This government has made a significant effort to push India’s renewable energy ambition. Due to this push India is now the 4th largest wind power producer in the world only behind of China, USA & Germany. India has made record addition to the solar power capacity in last 5 years. Although the recently concluded Financial Year (FY19) has shown a dip in installation of solar power with only 6500MW installed in the year. With this trend in the country the researchers are focusing on the scenario of renewable energy in India. So, the papers which are recently made available in the public domain are concerned with the current scenario. The surge in renewable energy is a good sign for the nation as renewable is the future. Though the rising demand of the fastest growing economy of the world can’t be satisfied with this growth in renewable energy. In simply words, the growth of the renewable energy is not enough to sustain the growth of the Indian economy. This statement is supported by the growing dependence of India on imported crude oil. Dependence of imported crude oil has gone up to 83.7% in Financial Year 19 from 82% in FY18. Hence, it can be said that the oil and gas sector is not getting the required focus. Development of an optimum portfolio to minimize risk and maximize return is required before taking any investment decision. Portfolio optimization is required when you think of investing in oil and gas sector as its one of the most volatile sectors. This study is focused on developing an optimum portfolio for investment in oil and gas sector in India. Hence, 11 companies listed on Bombay Stock Exchange is selected for the study. Risk and return of all the 11 companies are calculated. The companies are ranked according to their risk. Weightage of investment is assigned to the top 5 companies (with lowest risk). The study has been conducted to construct an optimum portfolio of oil and gas companies using Markowitz Model. The study has been conducted on individual securities listed in Bombay Stock Exchange (BSE). The objectives of this study are: Risk and return analysis of individual securities of oil and gas companies in India listed with BSE. To identify the opportunities of investment in oil and gas companies and development of an optimum portfolio for investment in these companies. To construct optimal portfolio using Markowitz Model. To check whether Markowitz Model performs well in Oil and gas companies well in BSE or not.

Problems and Risks of Renewable Energy Sources

2021 ◽  
Vol 18 (4) ◽  
pp. 28-47
Author(s):  
Yu. I. Sokolov
Keyword(s):  
Renewable Energy ◽  
Power Plants ◽  
Fossil Fuels ◽  
Renewable Energy Sources ◽  
Electricity Production ◽  
Energy Sources ◽  
Renewable Generation ◽  
Solar Panels ◽  
Huge Amount ◽  
Wind Power Plants

The article analyzes the problems and risks of new-fangled renewable energy sources in the 21st century, which can radically change the energy picture of the world and to a certain extent reduce the risk of climate change. However, energy generation from wind is usually available 25—35% of the time, from the sun — 10—25%.Renewable energy sources (RES) face the problem of accumulating or supporting capacities that should replace the unstable generation of RES at the time of inevitable failures. RES cannot exist without excess reserve capacities on traditional energy carriers that can quickly increase and reduce electricity production. Abandoning hydrocarbons in the next 30—50 years looks unrealistic if countries want to maintain their competitiveness. The growth of the share of RES in the global energy balance is an extremely politicized phenomenon.The development of renewable generation creates risks for consumers. Especially for large ones. One of these risks is associated with the intermittent, unstable nature of renewable generation, which in recent years has been understood mainly as solar and wind power plants. In addition, to produce more solar panels, wind turbines and batteries for electric vehicles, humanity will need more specific resources — rare earth metals. The production of these metals is unsafe for the environment. It involves the consumption of a huge amount of water and electrical energy.Renewable energy sources may dominate, but it will take centuries. Demand is already growing, but fossil fuels will live long enough.

scholarly journals India’s Strategy to Procure Lithium to be a Leading Lithium-Ion Battery Manufacturer

2021 ◽  
Vol 11 (5) ◽  
pp. 143-148
Author(s):  
Shubham Gandhi ◽  
Drumil Newaskar ◽  
Rohan Apte ◽  
Preet Aligave
Keyword(s):  
Lithium Ion Batteries ◽  
Lithium Ion Battery ◽  
Electric Vehicles ◽  
Fossil Fuels ◽  
Oil And Gas ◽  
Mineral Exploration ◽  
Lithium Ion ◽  
Considerable Change ◽  
Solar Panels ◽  
Electrical Vehicle

Lithium is one of the foremost valuable metal which is widely used for manufacturing batteries and also has other uses in solar panels, ceramics, glasses and pharmaceuticals. Lithium is third most abundant element after hydrogen and helium but the most lithium deposits are only in Bolivia (21 million tons), Argentina (17 million tons), Chile (9 million tons), Australia (6.8 million tons), China (4.5 million tons). Bolivia, Argentina, Chile forms so called lithium triangle. Due to depleting reserves of fossil fuels and its harmful impact on the environment has forced the globe to shift to Lithium-ion batteries which is much eco-friendlier alternative. India’s push for electric vehicles (EV) may cause a considerable change in its energy security priorities, with securing lithium supplies, a key material for creating batteries, becoming as important as buying oil and gas fields overseas. India doesn't have enough lithium reserves for manufacturing lithium-ion batteries. The majority electric vehicles within the country run on imported batteries, mostly from China. At present a lithium-ion battery accounts for 40% of the overall cost of an electrical vehicle. Khanij Bidesh Pvt Ltd is a venture firm of three central public sector enterprises namely National Aluminum Company (Nalco), Hindustan Copper Ltd (HCL), Mineral Exploration Company Ltd (MECL). The KABIL would do identification, acquisition, exploration, development, mining and processing of strategic minerals overseas for commercial use and meeting country’s requirement of those minerals. The mission is to not allow India to fall in a very vulnerable position with a probable threat of supply squeeze as went on within the case of petroleum, with India being the world’s third largest oil importer and to amass cobalt and lithium mines in addition on get into purchase agreements of those minerals. This may help in achieving resource security with regard to strategic minerals.

scholarly journals Vehicle-to-Grid in Standard and Fast Electric Vehicle Charging: Comparison of Renewable Energy Source Utilization and Charging Costs

Energies ◽  
2020 ◽  
Vol 13 (6) ◽  
pp. 1510 ◽  
Author(s):  
Anamarija Falkoni ◽  
Antun Pfeifer ◽  
Goran Krajačić
Keyword(s):  
Renewable Energy ◽  
Electric Vehicles ◽  
Energy System ◽  
Electricity Production ◽  
Social Aspects ◽  
Transport Sector ◽  
Renewable Electricity ◽  
Electricity Prices ◽  
Vehicle To Grid ◽  
Fast Charging

Croatia aims to achieve 10% of its energy production from the renewable energy sources in the total energy consumption in the transport sector. One of the ways to achieve this goal is by the use of electric vehicles. This work comparatively analyses the financial and social aspects of vehicle-to-grid charging in standard and fast charging mode, their impact on the renewable electricity production and the total electricity consumption regulated through variable electricity prices. Data were taken for the wider urban area of the Dubrovnik region. The assumption is that the Dubrovnik region will be self-sufficient by the year 2050 with 100% renewable electricity production and that all conventional vehicles will be replaced by electric vehicles. This work aims to show that the fast charging based on 10 min time steps offers more opportunities for flexibility and utilization of renewable generation in the energy system than the standard charging based on hourly time step. The results of this work showed the opposite, where in most of the scenarios standard charging provided better results. Replacement of the existing two tariff model in electricity prices with variable electricity prices contributes to the stability of the energy system, providing better regulation of charging and higher opportunities for renewable electricity utilization in standard and fast charging and reduction of charging costs. According to the financial aspects, fast charging is shown to be more expensive, but for the social aspects, it provides electric vehicles with more opportunities for better competition in the market.

scholarly journals Fossil fuel industry development in the 21st century: a case of coal

2021 ◽  
Vol 128 ◽  
pp. 02004
Author(s):  
Wadim Strielkowski ◽  
Eugeny Lutsenko ◽  
Dmitriy Pavlov
Keyword(s):  
Renewable Energy ◽  
Electric Vehicles ◽  
Energy Production ◽  
Developing Economies ◽  
Coal Industry ◽  
Green Energy ◽  
Industry Development ◽  
Political Forces ◽  
Fossil Fuel Industry ◽  
Fuel Industry

Our article analyses the prospects of coal industry development in the 21st century. It is apparent that the share of coal in the world’s total energy mix is shrinking as it is replaced by natural gas, renewables, and other forms of energy production. In the same time, countries like China, Russia, but also Poland are dependent on coal as the major fuel for generating their electricity. Quite remarkably, China is using more coal to generate electricity for powering its growing fleet of electric vehicles and transport. This cycle needs to be broken in order to ensure the full transition to the renewable energy future and reducing the burden on the climate and global warming. We argue that the shift away from coal to the renewable energy is driven mainly by the growth of green energy policies and supporting actions induced by the political forces. However, it might still remain the major source of power generation in less-developed and developing economies.

scholarly journals ВЛИЯНИЕ «ЗЕЛЕНОЙ ЭКОНОМИКИ» НА ЭКОНОМИЧЕСКОЕ РАЗВИТИЕ И ЭКОЛОГИЧЕСКУЮ БЕЗОПАСНОСТЬ КАЗАХСТАНА

2019 ◽  
pp. 35-41
Author(s):  
Лактионова Н. В. ◽  
Изтаева А. А.
Keyword(s):  
Renewable Energy ◽  
Large Scale ◽  
Renewable Energy Sources ◽  
Green Building ◽  
Environmental Benefits ◽  
Green Economy ◽  
Electricity Production ◽  
Current Status ◽  
Scientific Article ◽  
The Government

Kazakhstan has a huge potential for the use of renewable energy sources, while being the state with the highest rates of greenhouse gas emissions in Central Asia. Despite significant economic, social and environmental benefits, the share of renewable energy in Kazakhstan's electricity production remains low, at 1.1% in 2017. The government intends to increase this figure to 50% by 2050. While Kazakhstan is experiencing some difficulties in diversifying its economy and energy resources, the inclusive concept of green growth is particularly important for the country.The adopted Strategy Kazakhstan 2050: A New Political Course of the Established State «Strategy - 2050» sets clear guidelines for building a sustainable and efficient economic model based on the country’s transition to a green development path.The article analyzes the current status of the transition to «green economy» including the development of renewable energy, green building, environmentally friendly transport, waste management, sustainable and efficient organic agriculture, and rational use of water resources. The scientific article focuses on the key risks, problems and obstacles to the development of the «green economy» in Kazakhstan, as well as offers recommendations and measures to solve existing problems. In addition, the article examines the methods of the government's transition to a «green economy», within which the planned tasks of a large-scale transition to a «green economy» are to be fulfilled.The article can be useful for those who are interested in sustainable economic growth: the government, energy companies, investors in the field of renewable energy and society as a whole.

Development of Alternative Fuels in Europe Presents Opportunity for the Middle East

2020 ◽  
Vol 72 (12) ◽  
pp. 50-51
Author(s):  
Chris Carpenter
Keyword(s):  
Renewable Energy ◽  
Middle East ◽  
Crude Oil ◽  
Alternative Fuels ◽  
First Generation ◽  
Oil And Gas ◽  
Energy Transition ◽  
Unsaturated Hydrocarbons ◽  
High Oxygen Content ◽  
Advanced Biofuels

This article, written by JPT Technology Editor Chris Carpenter, contains highlights of paper SPE 198165, “Alternative Fuels Development in Europe: Threat or Opportunity for the Middle East?” by Maarten Van Haute, Kuwait Petroleum Research and Technology, prepared for the 2019 SPE Kuwait Oil and Gas Conference and Show, Mishref, Kuwait, 13-16 October. The paper has not been peer reviewed. In December 2018, the revised Renewable Energy Directive (RED) [European Union (EU)] 2018/2001 was implemented, establishing a new binding renewable EU energy target for 2030 of at least 32%, with a clause for a possible upward revision by 2023. The subtarget for renewable energy in transport was raised to 14%. The scope of the complete paper is limited to the 14% renewable energy target in transport and its possible effect on the Middle East. Introduction The first portion of the complete paper includes an extended discussion of the RED and definitions needed to appreciate its conclusions that the production and consumption of fossil fuels will be reduced gradually and replaced by renewable alternatives. This is an economically threatening situation for any country whose gross domestic product is dependent upon oil. The energy transition is a slow but steady process, so nations of the Middle East are reviewing their long-term strategies. Energy-transition and renewable-energy developments, however, may offer solutions and opportunities for these nations. Overview of Renewable Fuels Biofuels. According to the definition provided in the RED, biofuels refers to liquid fuel for transport produced from biomass. A delineation from crude oil is in order before these fuels are discussed in detail. One might consider crude oil a fuel from biomass, but, because the biomass is fossil and the process cannot be replenished within a human time scale, it is not considered renewable. Biomass used to produce biofuels is a mix of hydrocarbons that has high oxygen content and a limited amount and type of unsaturated hydrocarbons. The role of oxygen and unsaturated hydrocarbons (which are less stable) and the limited amount of hydrocarbon species are the biggest challenges for biofuels production. These feedstocks all need a pretreatment step to liquefy or gasify the hydrocarbons so they can be processed in a refinery. Many pretreatment options exist for different feedstocks under development. The RED makes a distinction between first-generation biofuels and advanced biofuels. The latter are those made of feedstocks that generally are waste-based or nonfood-based feedstocks. The allowed percentage of first-generation biofuels is capped. The supply of this first generation is not limited by availability or lack of conversion processes but rather by its competition with the food chain and vast deforestation. To achieve sustainability, the development of advanced biofuels, where the choice of feedstock and pretreatment and conversion technology is key, should be prioritized. Feedstocks will be at much lower volumes than crude and less consistent in quality, so the advanced-biofuels-processing industry likely will comprise many small bioprocessing units.

scholarly journals Implementasi grid tie inverter pada pembangkit listrik tenaga surya on grid untuk golongan pelanggan rumah tangga masyarakat perkotaan

JURNAL ELTEK ◽  
2021 ◽  
Vol 19 (1) ◽  
pp. 108
Author(s):  
Herwandi
Keyword(s):  
Renewable Energy ◽  
Power Plant ◽  
Solar Energy ◽  
Solar Power ◽  
Average Power ◽  
Electricity Production ◽  
Solar Power Plant ◽  
Solar Panels ◽  
Fossil Energy ◽  
Electricity Network

Terbatasnya energi fosil di Indonesia menyebabkan adanya pengembangan energi baru terbarukan. Energi terbarukan merupakan energi non-fosil yang berasal dari alam. Pemanfaatan energi surya bisa dilakukan dengan membangun Pembangkit Listrik Tenaga Surya (PLTS). Perencanaan PLTS menggunakan sistem on grid, sistem masih terkoneksi dengan jaringan PLN. Sistem dimanfaatkan sebagai backup untuk aliran listrik. Sistem akan bekerja secara otomatis ketika aliran listrik PLN terputus dengan memanfaatkan panel ATS (Automatic Transfer Switch). Pembangkit listrik tenaga surya sistem on grid ini cocok diterapkan di perumahan dengan memanfaatkan atap sebagai ruang untuk menyerap energi matahari. Sistem ini jika dipasang bersamaan dengan PLN akan mengurangi pengeluaran biaya listrik. Penerapan sistem atau prinsip kerja PLTS Grid Tie System ini dapat dijalankan dengan sistem kelistrikan PLN. Dalam sistem ini, jaringan listrik PLN berperan sebagai penyalur atau penghubung arus listrik yang berasal dari panel surya yang dialirkan pada beban. Dengan begitu pada siang hari, penggunaan listrik dapat memanfaatkan energi listrik dari sinar matahar dan pada malam hari karena tidak ada sinar matahari menyebabkan tidak ada produksi listrik dari solar panel, maka dapat tetap menggunakan arus listrik yang berasal dari PLN. Perencanaan dilakukan dengan pemilihan komponen PLTS, beban yang dibutuhkan 900Watt, lama waktu penyinaran efektif 10 jam/hari. kemudian melakukan perhitungan komponen PLTS, menentukan tata letak penempatan panel surya dan panel ATS (Automatic Transfer Switch) yang digunakan untuk membackup apabila jaringan listrik PLN terputus. Dari hasil pengukuran arus, tegangan dan daya di dalam rumah pada jam 07.00 sampai dengan 17.00 pada waktu cuaca cerah, yaitu sebelum Grid Tie Inverter dihubungkan ke jala-jala dihasilkan daya rata-rata, P=606,105Watt dan setelah Grid Tie dihubungkan ke jala-jala, P=292,63 Watt. Jadi penghematan daya beban di rumah yang dihasilkan sebesar 52 % dalam satu hari. Limited fossil energy in Indonesia has led to the development of new and renewable energy. Renewable energy is non-fossil energy that comes from nature. Utilization of solar energy can be done by building a Solar Power Plant (PLTS). PLTS planning uses an on-grid system, the system is still connected to the PLN network. The system is used as a backup for electricity. The system will work automatically when the flow of PLN electricity is cut off by utilizing an ATS (Automatic Transfer Switch) panel. This on-grid solar power plant system is suitable for residential use by utilizing the roof as a space to absorb solar energy. This system if installed together with PLN will reduce expenditure of electricity costs. The application of the system or the working principle of the PLTS Grid Tie System can be run with the PLN electrical system. In this system, the PLN electricity network acts as a distributor or connector for the electricity that comes from the solar panels that are flowed to the load. That way during the day, the use of electricity can take advantage of electrical energy from the sun and at night because there is no sunlight it causes no electricity production from solar panels, it can still use the electric current that comes from PLN. Planning is done by selecting the PLTS component, the load required is 900 Watt, the duration of effective irradiation is 10 hours / day. Then calculate the PLTS components, determine the layout of the placement of the solar panels and ATS (Automatic Transfer Switch) panels which are used to back up when the PLN electricity network is interrupted. From the results of measuring currents, voltages and power in the house at 07.00 to 17.00 when the weather is clear, that is, before the Grid Tie Inverter is connected to the grid, the average power is generated, P = 606.105Watt and after the Grid Tie is connected to the grid mesh, P = 292.63 Watts. So, the resulting load power savings at home is 52% in one day

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