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Records with Keyword: Renewable and Sustainable Energy
Showing records 551 to 575 of 1100. [First] Page: 19 20 21 22 23 24 25 26 27 Last
A Novel Sooty Terns Algorithm for Deregulated MPC-LFC Installed in Multi-Interconnected System with Renewable Energy Plants
Hossam Hassan Ali, Ahmed Fathy, Abdullah M. Al-Shaalan, Ahmed M. Kassem, Hassan M. H. Farh, Abdullrahman A. Al-Shamma’a, Hossam A. Gabbar
March 9, 2023 (v1)
Keywords: deregulated LFC, Model Predictive Control, Renewable and Sustainable Energy, sooty terns optimization
This paper introduces a novel metaheuristic approach of sooty terns optimization algorithm (STOA) to determine the optimum parameters of model predictive control (MPC)-based deregulated load frequency control (LFC). The system structure consists of three interconnected plants with nonlinear multisources comprising wind turbine, photovoltaic model with maximum power point tracker, and superconducting magnetic energy storage under deregulated environment. The proposed objective function is the integral time absolute error (ITAE) of the deviations in frequencies and powers in tie-lines. The analysis aims at determining the optimum parameters of MPC via STOA such that ITAE is minimized. Moreover, the proposed STOA-MPC is examined under variation of the system parameters and random load disturbance. The time responses and performance specifications of the proposed STOA-MPC are compared to those obtained with MPC optimized via differential evolution, intelligent water drops algorithm, stain... [more]
Q-Learning Neural Controller for Steam Generator Station in Micro Cogeneration Systems
Krzysztof Lalik, Mateusz Kozek, Szymon Podlasek, Rafał Figaj, Paweł Gut
March 9, 2023 (v1)
Keywords: mCHP, Modelling, neural algorithms, PID controller, Renewable and Sustainable Energy
This article presents the results of the optimization of steam generator control systems powered by mixtures of liquid fuels containing biofuels. The numerical model was based on the results of experimental research of steam generator operation in an open system. The numerical model is used to build control algorithms that improve performance, increase efficiency, reduce fuel consumption and increase safety in the full range of operation of the steam generator and the cogeneration system of which it is a component. In this research, the following parameters were monitored: temperature and pressure of the circulating medium, exhaust gas temperature, oxygen content in exhaust gas, percentage control of oil burner power. Two methods of controlling the steam generator were proposed: the classic one, using the PID regulator, and the advanced one, using artificial neural networks. The work shows how the model is adapted to the real system and the impact of the control algorithms on the effic... [more]
The Learning Activation Approach—Understanding Indonesia’s Energy Transition by Teaching It
Ariel Macaspac Hernandez, Yudhi Timor Bimo Prakoso
March 9, 2023 (v1)
Keywords: energy transition, Indonesia, Renewable and Sustainable Energy, renewable energies, transformation to sustainability
Indonesia is an interesting case study for researchers, educators and students of sustainable development and sustainable energy due to its ability to connect the multiple “worlds” it has become part of. Indonesia is an important bridge to Muslim countries, the voice of the Global South in the G20 and a main pillar of the 134-country-strong G77. Indonesia’s development trajectory is also key to the achievement of the Paris Climate Agreement as well as of the 2030 Agenda. This article proposes that one way to understand Indonesia’s complex energy transition is by knowing how to teach it as a case study. By teaching how Indonesia addresses contradictions that would have been unsurmountable for other countries, new insights and values can be gained. Indonesia’s energy transition offers helpful lessons, because of its aspiration to become a developed country by 2045. However, as the methodology of this paper suggests, these lessons can be more valuable when they are achieved through the st... [more]
Community Capacity-Building Mobilization towards Energy Transitions in the Era of Thailand 4.0: A Case Study on Biomass Power Plants
Yuttana Homket, Pongthep Sutheravut, Sawpheeyah Nima
March 9, 2023 (v1)
Subject: Energy Policy
Keywords: biomass power plant, community mobilization, public policy, Renewable and Sustainable Energy, Thailand 4.0
In 2015, the National Energy Policy Council (NEPC) approved the latest Alternative Energy Development Plan (AEDP) 2015−2036, targeting electricity generation from biomass, biogas, and municipal solid waste by 2036 towards the Thailand 4.0 policy. The small biomass power plants are intensively promoted, contributing to many more public concerns. Therefore, this study provided new insight using the readiness and resilience in the communities near the biomass power plant generation in Southern Thailand. The community readiness model (CRM) and community health impact assessment (CHIA) were adopted using mixed methods during January−November 2019. A total of 999 respondents replied to the questionnaires, 153 informants were interviewed, and the panel was discussed and analyzed by descriptive statistics and content analysis. Findings illustrated that all stakeholder sectors strengthened community-driven development based on the average community readiness (3.01 ± 0.11) in a vague awareness s... [more]
Short-Term Deterministic Solar Irradiance Forecasting Considering a Heuristics-Based, Operational Approach
Armando Castillejo-Cuberos, John Boland, Rodrigo Escobar
March 9, 2023 (v1)
Keywords: fuzzy logic, heuristics, Markov chains, Renewable and Sustainable Energy, solar energy, solar power forecasting
Solar energy is an economic and clean power source subject to natural variability, while energy storage might attenuate it, ultimately, effective and operationally feasible forecasting techniques for energy management are needed for better grid integration. This work presents a novel deterministic forecast method considering: irradiance pattern classification, Markov chains, fuzzy logic and an operational approach. The method developed was applied in a rolling manner for six years to a target location with no prior data to assess performance and its changes as new local data becomes available. Clearness index, diffuse fraction and irradiance hourly forecasts are analyzed on a yearly basis but also for 20 day types, and compared against smart persistence. Results show the proposed method outperforms smart persistence by ~10% for clearness index and diffuse fraction on the base case, but there are significant differences across the 20 day types analyzed, reaching up to +60% for clear day... [more]
Forecasting and Assessment of the Energy Security Risk in Fuzzy Environment
Paweł Ziemba, Aneta Becker, Jarosław Becker
March 9, 2023 (v1)
Subject: Environment
Keywords: energy management, energy security, forecasting, fuzzy set, Holt’s method, international energy security risk index, multi-criteria decision analysis, Renewable and Sustainable Energy, time trends, uncertainty analysis
Energy security is of key importance for states and international organizations. An important issue in energy security is the assessment of current and future energy security methods. While the assessment of the current methods is relatively easy, since it is based on recent information, the assessment of the future methods is burdened with uncertainty and is therefore much more difficult. Therefore, the aim of the article is to develop a new approach for assessing current and future energy security issues based on a complex security index, supported by the computationally transparent fuzzy multi-criteria decision analysis (MCDA) method. The use of the fuzzy MCDA methods allows one to capture the uncertainty of assessments and forecasts, and the forecasts themselves were based on the Holt’s method; the international energy security risk index (IESRI) was used as the source of the data to generate the forecasts. The research compared two data sources for forecasts (IESRI categories and... [more]
Environmental and Economic Optimization and Sizing of a Micro-Grid with Battery Storage for an Industrial Application
Fethi Khlifi, Habib Cherif, Jamel Belhadj
March 9, 2023 (v1)
Subject: Environment
Keywords: micro-grid, objective functions, Optimization, PV/wind source, Renewable and Sustainable Energy
This study focuses on the sizing and optimization of a micro-grid with storage, which is destined to supply the load of an economic activity zone (EAZ) in Sidi Bouzid, Tunisia. To solve this problem, a genetic algorithm is established and programmed into MATLAB. The objective functions are considered by providing three minimums, namely Greenhouse Gas emissions (GHG), Life Cycle Cost (LCC) and Embodied Energy (EE), for three values of loss of power supply probability (LPSP) previously fixed. The sizing and optimization results are found and evaluated using a time series exchange of energy during a year to determine the optimal component size of a photovoltaic/wind/battery system (PV/WT/Bat). The simulation results show that the lowest ratio of LPSP values corresponds to the higher GHG, EE, LCC, photovoltaic panels area (APV), battery storage capacity (Cn), wind turbines area (AWT) and vice versa. This means that demanding higher energy reliability leads to higher energy cost and polluti... [more]
Optimal Planning of Remote Area Electricity Supply Systems: Comprehensive Review, Recent Developments and Future Scopes
Rahmat Khezri, Amin Mahmoudi, Hirohisa Aki, S. M. Muyeen
March 9, 2023 (v1)
Keywords: electricity cost, energy storage system, optimal planning, reliability, remote area electricity supply, Renewable and Sustainable Energy
Optimal planning of a remote area electricity supply (RAES) system is a vital challenge to achieve a reliable, clean, and cost-effective system. Various components like diesel generators, renewable energy sources, and energy storage systems are used for RAES systems. Due to the different characteristics and economic features of each component, optimal planning of RAES systems is a challengeable task. This paper presents an overview of the optimal planning procedure for RAES systems by considering the important components, parameters, methods, and data. A timely review on the state of the art is presented and the applied objective functions, design constraints, system components, and optimization algorithms are specified for the existing studies. The existing challenges for RAES systems’ planning are recognized and discussed. Recent trends and developments on the planning problem are explained in detail. Eventually, this review paper gives recommendations for future research to explore... [more]
Perspectives and Problems of Using Renewable Energy Sources and Implementation of Local “Green” Initiatives: A Regional Assessment
Saulius Baskutis, Jolanta Baskutiene, Valentinas Navickas, Yuriy Bilan, Wojciech Cieśliński
March 9, 2023 (v1)
Subject: Environment
Keywords: Energy Efficiency, greenhouse gas emissions, Renewable and Sustainable Energy
Environmental pollution, energy supply and security of supply have become major issues across the world due to climate change, limited energy sources, energy price volatility and energy supply constraints. Energy availability, energy efficiency and the replacement of fossil fuels by renewable energy sources are key factors in the global development of sustainable energy. In many countries with limited fossil fuel resources, the sustainable development of renewable energy sources is an important tool in reducing dependence on imported fuels. Some alternative energy sources, such as wind, solar, tidal and hydropower, seem almost inexhaustible. With the exception of tidal energy, all of these sources have been used extensively and for a long time. This article examines the improvement of energy security and the government’s actions to promote the use of renewable energy sources, focusing on increasing energy efficiency and reducing energy intensity and dependence on energy imports in Lith... [more]
Energy Security Assessment of Emerging Economies under Global and Local Challenges
Iryna Sotnyk, Tetiana Kurbatova, Oleksandr Kubatko, Olha Prokopenko, Gunnar Prause, Yevhen Kovalenko, Galyna Trypolska, Uliana Pysmenna
March 9, 2023 (v1)
Subject: Energy Policy
Keywords: COVID-19, emerging economy, Energy Efficiency, energy policy, energy security, energy sustainability, fluctuations, Renewable and Sustainable Energy, Ukraine
This paper proposes methodological approaches to assessing the impact of renewable energy and energy efficiency development on emerging economies’ energy security. It is suggested to supplement the current methodology for assessing energy security with the decoupling index of the renewable energy financial burden on the state budget, the energy efficiency decoupling index, the households’ energy poverty indicator, the index of capacity development for balancing electricity generation volumes, and the energy fluctuations indicator. These indices provide a comprehensive assessment of energy security under the latest challenges. Thus, the COVID-19 pandemic in the Ukrainian energy sector led to the “green and coal paradox”, when the government decided to keep green electricity generation but limit nuclear generation. It required increased flexible capacities (thermal generation) and led to a rise in electricity prices and environmental pollution. Forecasting energy fluctuations with Butter... [more]
Dynamic Voltage Stability Assessment in Remote Island Power System with Renewable Energy Resources and Virtual Synchronous Generator
Akito Nakadomari, Ryo Miyara, Talal Alharbi, Natarajan Prabaharan, Shriram Srinivasarangan Rangarajan, Edward Randolph Collins, Tomonobu Senjyu
March 9, 2023 (v1)
Keywords: dynamic voltage stability, remote island power system, Renewable and Sustainable Energy, virtual synchronous generator
Increasing the proportion of renewable energy generations in remote island power systems is becoming essential for realizing decarbonized society. However, since inverter-connected renewable energies have different generation characteristics from conventional generators, the massive penetration can adversely affect system stability. In particular, fault events in such weak remote systems can cause fast voltage collapse, and there is a need to assess dynamic voltage stability. This study attempts dynamic voltage stability assessment using the critical boundary index (CBI) and investigates the impact of the virtual synchronous generator (VSG) on dynamic voltage stability. A remote island power system and VSG are modeled, and time-domain simulations are conducted with case studies of fault events. The simulation results show the potential of CBI to use for dynamic voltage stability assessment. Furthermore, the VSG can provide suitable power output during fault events and improve dynamic v... [more]
Public Acceptance and Support of Renewable Energy in the North-East Development Region of Romania
Dumitru-Tudor Jijie, Alexandru Maxim, Teodora Roman, Mihail Roșcovan
March 9, 2023 (v1)
Subject: Energy Policy
Keywords: energy policy, European Union, north-east development region of Romania, public opinion, Renewable and Sustainable Energy, Romania
Concern about energy in the European Union (EU) has been a recurrent issue from the very beginning. Though initially addressed at the state level, energy is now a shared competency as stressed by article 194 of the Treaty on the Functioning of the European Union. New challenges, added from time to time, need public support in order to be properly addressed. Such is the case of substituting traditional energy production with renewable energy sources. Our paper seeks to determine whether the Romanian public opinion favors such an evolution, which is traditionally associated with significant investment efforts. The study is focused on the north-east development region, which has the highest population and registered the fastest economic growth in 2019. The topic was explored through a survey applied to a sample of 649 household respondents. The results suggest strong support for introducing renewable energy sources, serious concerns about climate change, and a preoccupation for energy sav... [more]
Analysis of Spatial Effects in the Relationship between CO2 Emissions and Renewable Energy Consumption in the Context of Economic Growth
Mateusz Jankiewicz, Elżbieta Szulc
March 9, 2023 (v1)
Subject: Environment
Keywords: economic growth, environmental Kuznets curve, Renewable and Sustainable Energy, spatial spillovers, spatio-temporal Durbin model
The paper presents a spatial approach to the analysis of the relationship between air pollution, economic growth, and renewable energy consumption. The economic growth of every country is based on the energy consumption that leads to an increase in national productivity. Using renewable energy is very important for the environmental protection and security of the earth’s resources. Promoting environmentally friendly operations increases awareness of sustainable development, which is currently a major concern of state governments. In this study, we explored the influence of economic growth and the share of renewable energy out of total energy consumption on CO2 emissions. The study was based on the classical environmental Kuznets curve (EKC) and enriched with the spatial dependencies. In particular, we determined the spatial spillovers in the form of the indirect effects of changes in renewable energy consumption of a specific country on the CO2 emissions of neighboring countries. A nei... [more]
The Problem of Non-Typical Objects in the Multidimensional Comparative Analysis of the Level of Renewable Energy Development
Mateusz Piwowarski, Mariusz Borawski, Kesra Nermend
March 9, 2023 (v1)
Keywords: multidimensional comparative analysis, non-typical object, Renewable and Sustainable Energy, TOPSIS, VIKOR, VMCM
The development of energy from renewable sources is one of the most important aspects of today’s energy industry. The level of this development (production of green energy) is determined by the use of a variety of methods, e.g., the methods of multicriteria and multivariate analysis. The effectiveness of these methods is affected by many factors, and one of them is the appearance of non-typical objects (outliers). This paper investigates the effectiveness of selected methods (TOPSIS, VIKOR, VMCM) in terms of computational robustness to outlier objects. The most effective method in this respect (VMCM) is then applied to study the level of development of renewable energy sources in European countries. The presented research provides the opportunity to carry out a dynamic analysis (for selected base years) of the level of energy generation from diverse renewable sources in reference to the adopted patterns and anti-patterns (European countries). The obtained results are discussed, thus co... [more]
Cash Flow Optimization for Renewable Energy Construction Projects with a New Approach to Critical Chain Scheduling
Janusz Kulejewski, Nabi Ibadov, Jerzy Rosłon, Jacek Zawistowski
March 9, 2023 (v1)
Keywords: cash flow, critical chain, Optimization, Renewable and Sustainable Energy, Scheduling, time buffers
This study concerns the use of the critical chain method to schedule the construction of renewable energy facilities. The critical chain method is recognized as a useful project management tool, transforming a stochastic problem of uncertainty in activity durations into a deterministic one. However, this method has some shortcomings. There are no clear principles of grouping non-critical activities into feeding chains. Another ambiguity is sizing the feeding buffers with regard to the topology of the network model and the resulting dependencies between activities, located in different chains. As a result, it is often necessary to arbitrarily adjust the calculated sizes of feeding buffers before inserting them into the schedule. The authors present the new approach to sizing the time buffers in the schedule, enabling a quick assessment of the quality of a given solution variant and finding a solution that best meets the established criteria, conditions, and constraints. The essence of t... [more]
The Potential of Variable Renewable Energy Sources in Mexico: A Temporally Evaluated and Geospatially Constrained Techno-Economical Assessment
Edgar Ubaldo Peña Sánchez, Severin David Ryberg, Heidi Ursula Heinrichs, Detlef Stolten, Martin Robinius
March 9, 2023 (v1)
Keywords: geospatial analysis, land eligibility analysis, Mexico, Renewable and Sustainable Energy, renewable potential, technical potential
Due to the increasing global importance of decarbonizing human activities, especially the production of electricity, the optimal deployment of renewable energy technologies will play a crucial role in future energy systems. To accomplish this, particular attention must be accorded to the geospatial and temporal distribution of variable renewable energy sources (VRES), such as wind and solar radiation, in order to match electricity supply and demand. This study presents a techno-economical assessment of four energy technologies in the hypothetical context of Mexico in 2050, namely: onshore and offshore wind turbines and open-field and rooftop photovoltaics. A land eligibility analysis incorporating physical, environmental, and sociopolitical eligibility constraints and individual turbine and photovoltaic park simulations, drawing on 39 years of climate data, is performed for individual sites across the country in an effort to determine the installable potential and the associated leveli... [more]
CFD Simulation of a 3D Solar Chimney Integrated with an Axial Turbine for Power Generation
Suad Hassan Danook, Hussein A. Z. AL-bonsrulah, Ishak Hashim, Dhinakaran Veeman
March 9, 2023 (v1)
Keywords: Computational Fluid Dynamics, electricity, numerical simulation, Renewable and Sustainable Energy, solar chimney, solar energy
The solar chimney is one of the uninvestigated areas in the possible selection in the field of renewable solar energy utilization. CFD can be demonstrated as a useful tool of figure confidence in the design and employment of a solar chimney. A realistic numerical model for a solar-based updraft power plant for power generation was established through this research work. Iraqi weather in Kirkuk, northern Iraq was considered for this case study. A three-dimensional (3D) simulation of the main geometric dimensions of the Spanish, Manzanares model integrated with a real turbine was performed using computational fluid dynamics (CFD). The turbulent model of RNG k-e, the nongrey discrete coordinate (DO) radiation model, and the solar raytracing algorithm were used. It was observed that the air velocity below the turbine was graded according to the seasons of the year and was at its maximum in July with 18.28 m/s due to the high ambient temperature, and the lowest value was recorded in January... [more]
Comparative Analysis of Solar Panels with Determination of Local Significance Levels of Criteria Using the MCDM Methods Resistant to the Rank Reversal Phenomenon
Aleksandra Bączkiewicz, Bartłomiej Kizielewicz, Andrii Shekhovtsov, Mykhailo Yelmikheiev, Volodymyr Kozlov, Wojciech Sałabun
March 9, 2023 (v1)
Keywords: COMET, decision support system, DSS, MCDM, multi-criteria decision-making, photovoltaic technology, Renewable and Sustainable Energy, solar energy, solar panels selection, SPOTIS
This paper aims to present an innovative approach based on two newly developed Multi-Criteria Decision-Making (MCDM) methods: COMET combined with TOPSIS and SPOTIS, which could be the basis for a decision support system (DSS) in the problem of selecting solar panels. Solar energy is one of the most promising and environmentally friendly energy sources because of the enormous potential of directly converting available solar radiation everywhere into electricity. Furthermore, ever-lower prices for photovoltaic systems make solar electricity more competitive with power from conventional energy sources, increasing interest in solar panels among companies and households. This fact generates the need for a user-friendly, objective, fully automated DSS to support the multi-criteria selection of solar panels. Both MCDM methods chosen for this purpose are rank-reversal-free and precise. First, the objective entropy weighting method was applied for determining criteria weights. Final rankings we... [more]
Macroeconomic Efficiency of Photovoltaic Energy Production in Polish Farms
Marcin Bukowski, Janusz Majewski, Agnieszka Sobolewska
March 9, 2023 (v1)
Keywords: agriculture, agrivoltaic, discounted payback period, net present value (NPV), Renewable and Sustainable Energy, social cost, solar energy
The public’s awareness of threats to the natural environment, as well as the hazard to human lives and health posed by the use of fossil fuels to generate energy has resulted in the growing interest in renewable energy sources, thus promoting attempts to reduce the dependency on conventional energy sources. Among the former, solar energy is one of the most promising. The aim of this study is to assess the macroeconomic efficiency of investments in photovoltaic installations to meet the demand for electricity of farms and agricultural production. Calculations were prepared for 48 variants comprising three farm types (dairy farms, field cropping farms, and mixed production farms), as well as 16 locations throughout Poland. The obtained results indicate high efficiency of electricity production using photovoltaic installations to cover the needs of farms in Poland. In macroeconomic accounting, NPV ranges from EUR 8200 to almost EUR 23,000, with the payback period depending on the farm typ... [more]
Determinants of Renewable Energy Production: Do Intellectual Property Rights Matter?
Wu-Shun Tee, Lee Chin, Abdul Samad Abdul-Rahim
March 9, 2023 (v1)
Keywords: dynamic panel analysis, intellectual property right, Renewable and Sustainable Energy
Climate change and finite energy supply issues have received substantial public attention in recent times. It has been argued that a sustainable energy supply associated with the promotion of clean energy is an important engine of growth, which calls for sound protection to reinforce investments in the renewable energy market. This paper examined the effect of intellectual property rights (IPRs) on renewable energy production using the dynamic panel generalised method of moments (GMM) technique on data from 59 sample countries. The empirical results provided strong evidence that IPRs significantly drive renewable energy production. Greater protection rights motivate renewable energy firms to increase energy production from renewable resources. Our findings further revealed that stronger protection propagates the deployment of renewable energy technologies that ultimately promote renewable energy production.
Life Cycle Assessment of a Barge-Type Floating Wind Turbine and Comparison with Other Types of Wind Turbines
Nurullah Yildiz, Hassan Hemida, Charalampos Baniotopoulos
March 9, 2023 (v1)
Subject: Environment
Keywords: abiotic depletion potential for fossil fuels (ADPF), acidification potential (AP), floating wind turbine, global warming potential (GWP), life cycle assessment (LCA), offshore wind turbine, Renewable and Sustainable Energy
The intensive increase of global warming every year affects our world negatively and severely. The use of renewable energy sources has gained importance in reducing and eliminating the effect of global warming. To this end, new technologies are being developed to facilitate the use of these resources. One of these technological developments is the floating wind turbine. In order to evaluate the respective environmental footprint of these systems, a life cycle assessment (LCA) is herein applied. In this study, the environmental impact of floating wind turbines is investigated using a life cycle assessment approach and the results are compared with the respective ones of onshore and jacket offshore wind turbines of the same power capacity. The studied floating wind turbine has a square foundation that is open at its centre and is connected to the seabed with a synthetic fibre-nylon anchorage system. The environmental impact of all life cycles of such a structure, i.e., the manufacture, t... [more]
Duct Attachment on Improving Breaking Wave Zone Energy Extractor Device Performance
Krisna Adi Pawitan, Hideki Takebe, Hanley Andrean, Shuji Misumi, Jun Fujita, Tsumoru Shintake
March 9, 2023 (v1)
Keywords: coastal engineering, Renewable and Sustainable Energy, structural response, wave energy converter
A challenging wave energy converter design that utilized the denser energy part of the nearshore breaking wave zone to generate electricity was introduced in 2016 by Shintake. The Okinawa Institute of Science and Technology Graduate University’s project aims to take advantage of breaking wave energy to harness electricity. The 2016 version of the device consisted only of a bare turbine and power generator. Early exploration of the design recorded short periods and high impact wave pressures were experienced by the structure, with the turbine unable to harvest energy effectively. Additional structure to not only reduce incoming impact pressure but also increase the duration of water flow through the turbine was needed. These are the main reasons behind incorporating the duct attachment into the design. This paper show that the duct is capable of halving the impact pressure experienced by the turbine and can increase the energy exposure by up to 1.6 times the bare turbine configuration.... [more]
Bank as a Stakeholder in the Financing of Renewable Energy Sources. Recommendations and Policy Implications for Poland
Karolina Daszyńska-Żygadło, Krzysztof Jajuga, Justyna Zabawa
March 9, 2023 (v1)
Subject: Energy Policy
Keywords: banking sector, financing instruments, Renewable and Sustainable Energy, risk analysis, stakeholders analysis
The paper concerns the role of the banking sector in renewable energy financing in Poland. The main goal of the paper is to provide recommendations for the banking sector in Poland, which can be used in the process of financing RES. The main methods used in the paper are the thorough analysis of the solutions used to finance RES in different countries and multivariate analysis of options presented on the ordinal scale. The first finding is the answer to the question of which financial instruments used by banks are the most effective in the financing of RES. It is based on the prepared ranking of different instruments used by banks in the process of renewable energy financing, by assessing the structure and value of required financing for renewable energy based on future scenarios. The second finding in the paper is the set of recommendations for the banking sector and policymakers as to financing renewable energy sources in Poland. The main conclusion is that renewable energy financing... [more]
Financial Instruments to Address Renewable Energy Project Risks in India
Gireesh Shrimali
March 9, 2023 (v1)
Keywords: currency hedging facility, currency risk, India, off-taker risk, payment security mechanism, project risks, Renewable and Sustainable Energy
This paper provides a summary of financial instruments to address two biggest risks to renewable projects in India. These risks include the following: first, off-taker (or counterparty) risk, which relates to payment delays by public-sector distribution companies to independent power producers, which then impact project level cash flows in the domestic currency; second, currency (or foreign exchange) risk related to currency fluctuations, which impact foreign investor level cash flows in foreign currencies. This paper then describes multiple solutions for each of these risks, using public funding mechanisms. For payment delays, the category of solutions is termed Payment Security Mechanisms; whereas, for currency fluctuations, the category of solutions is termed Foreign Exchange Hedging Facilities. The coverage in this paper shows the evolution of the solutions from theory to practice over time. These solutions are likely to be applicable to other developing countries.
Multiobjective Scheduling of Hybrid Renewable Energy System Using Equilibrium Optimization
Salil Madhav Dubey, Hari Mohan Dubey, Manjaree Pandit, Surender Reddy Salkuti
March 9, 2023 (v1)
Keywords: Equilibrium Optimizer, multi-objective, profit-based scheduling, Renewable and Sustainable Energy
Due to increasing concern over global warming, the penetration of renewable energy in power systems is increasing day by day. Gencos that traditionally focused only on maximizing their profit in the competitive market are now also focusing on operation with the minimum pollution level. The paper proposes a multiobjective model capable of finding a set of trade-off solutions for the joint optimization problem, considering the cost of reserve and curtailment of power from renewable sources. Managing a hybrid power system is a challenging task due to its stochastic nature mixed with the objective function and complex practical constraints associated with it. A novel metaheuristic Equilibrium Optimizer (EO) algorithm incepted in the year 2020 utilizes the concept of control volume and mass balance for finding equilibrium state is proposed here for computing the optimal schedule and impact of renewable energy integration on profit and emission for different optimization objectives. In this... [more]
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