Lower storage costs will drive renewable energy growth

2018 ◽  
Keyword(s):  
Renewable Energy ◽  
Offshore Wind ◽  
Competitive Bidding ◽  
Energy Sources ◽  
Energy Costs ◽  
Solar Thermal Energy ◽  
Content Type ◽  
Energy Growth ◽  
Energy Options ◽  
The Cost

Subject Renewable energy costs. Significance Renewable energy costs continue to fall in both absolute terms and relative to conventional energy sources. Impacts The switch to competitive bidding will see costs peak and then decline for governments that face high subsidy bills from feed-in tariffs. The portfolio of subsidy-free renewable energy options will grow in the next five years to include solar thermal energy and offshore wind. Technology advances will particularly reduce the cost over the next decade of building offshore wind capacity.

scholarly journals Assessing Renewable Energy Sources for Electricity (RES-E) Potential using a CAPM-Analogous Multi-Stage Model

Energies ◽  
2019 ◽  
Vol 12 (19) ◽  
pp. 3599 ◽  
Author(s):  
Martinez-Fernandez ◽  
deLlano-Paz ◽  
Calvo-Silvosa ◽  
Soares
Keyword(s):  
Power Generation ◽  
Renewable Energy ◽  
Carbon Capture ◽  
Renewable Energy Sources ◽  
Carbon Capture And Storage ◽  
Offshore Wind ◽  
Energy Sources ◽  
Low Carbon ◽  
Multi Stage ◽  
The Cost

Carbon mitigation is a major aim of the power-generation regulation. Renewable energy sources for electricity are essential to design a future low-carbon mix. In this work, financial Modern Portfolio Theory (MPT) is implemented to optimize the power-generation technologies portfolio. We include technological and environmental restrictions in the model. The optimization is carried out in two stages. Firstly, we minimize the cost and risk of the generation portfolio, and afterwards, we minimize its emission factor and risk. By combining these two results, we are able to draw an area which can be considered analogous to the Capital Market Line (CML) used by the Capital Asset Pricing model (CAPM). This area delimits the set of long-term power-generation portfolios that can be selected to achieve a progressive decarbonisation of the mix. This work confirms the relevant role of small hydro, offshore wind, and large hydro as preferential technologies in efficient portfolios. It is necessary to include all available renewable technologies in order to reduce the cost and the risk of the portfolio, benefiting from the diversification effect. Additionally, carbon capture and storage technologies must be available and deployed if fossil fuel technologies remain in the portfolio in a low-carbon approach.

Evaluating renewable energy choices among rural communities in Nigeria. An insight for energy policy

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Innocent Okwanya ◽  
Abdulkareem Alhassan ◽  
Job Pristine Migap ◽  
Simon Adeka Sunday
Keyword(s):  
Renewable Energy ◽  
Rural Communities ◽  
Energy Policy ◽  
Multinomial Logistic Regression ◽  
Renewable Energy Sources ◽  
Energy Sources ◽  
North Central ◽  
Content Type ◽  
The Cost ◽  
Policy Incentives

Purpose This study aims to examine the effects of policy incentives and cost on the choice and use of renewable energy in North-Central Nigeria. Design/methodology/approach The data for this study are collected from a sample of 290 respondents drawn from across 6 states in North-Central Nigeria, including the Federal Capital Territory. This study uses descriptive statistics and multinomial logistic regression to analyze the data. Findings The findings reveal that there is a huge potential demand for renewable energy sources (particularly solar photovoltaic) in the rural communities in Nigeria. It also indicates a positive and highly significant relationship between the level of awareness, availability and income and the use (consumption) of renewable energy sources among the rural communities. Furthermore, the cost of installation and maintenance of renewable energy, its reliability and availability are significant determinants of renewable energy choices among rural inhabitants in Nigeria. Practical implications The authors submit that inefficient policy strategies, high cost of installation and lack of awareness remain the major hindrances to the use of more efficient renewable energy sources. From a policy point of view, a viable strategy for effective use of renewable energy sources is the involvement of government, development partners and agencies for the funding of renewable energy technology in the rural sector of the country. The usage of modern renewable energy would increase if policy incentives are aimed at covering parts of the maintenance and installation cost of renewable energy users. The authors recommend that apart from creating awareness on the benefits of renewable energy, policymakers should provide a desirable policy environment for private energy firms to supply renewable energy at an affordable cost to the rural communities in Nigeria. Social implications A majority of the rural households in Nigeria, as shown in this article, are poor and therefore use firewood as their main source of cooking energy because of the cost of renewable energy. Originality/value Despite the abundance of renewable energy sources and government effort at improving renewable energy use, more than 15 million people live without access to electricity and 54 million are without modern energy services for cooking and lightening in Nigeria. A total of 61% of these people live in rural areas. Therefore, this study is novel in providing energy policy insights for rural communities in North-Central Nigeria.

Cost of renewable energy will fall further globally

2016 ◽  
Keyword(s):  
Renewable Energy ◽  
Fossil Fuel ◽  
Slow Growth ◽  
Energy Costs ◽  
Solar Photovoltaic ◽  
Content Type ◽  
Energy Growth ◽  
Photovoltaic Power ◽  
Cost Of Energy ◽  
First Choice

Subject Declining costs of renewable energy. Significance Recent auctions and 'levelised cost of energy' (LCOE) studies show that the costs of wind and solar photovoltaic power are now competitive with fossil-fuel power generation in an increasing number of scenarios. Impacts Competitive renewable energy costs will encourage governments to adopt renewables as first-choice technologies. While positive for emissions, higher renewables adoption will slow growth in international fossil fuel trade to the detriment of exporters. Variable renewable energy growth will increase demand for system-balancing technologies, such as interconnectors and electricity storage.

Renewables deployment will grow in South-east Asia

2019 ◽  
Keyword(s):  
Renewable Energy ◽  
East Asia ◽  
Thermal Power ◽  
Offshore Wind ◽  
South East Asia ◽  
Solar Pv ◽  
Content Type ◽  
Near Term ◽  
The Cost ◽  
Competitive Pricing

Subject Near-term outlook for renewable energy in South-east Asia. Significance Renewable energy has been slow to develop in South-east Asia, where electricity provision is dominated by thermal power generation. However, the cost of onshore wind and photovoltaic (PV) solar energy is falling. Impacts Renewables growth may prove a competitive threat to the development of liquefied natural gas projects in South-east Asia. A growing wind supply chain in Asia promises competitive pricing for South-east Asia’s nascent offshore wind sector. The growth of distributed solar PV could limit the need for major transmission investments.

Feasibility analysis: Evaluating sites for possible renewable energy options and their implications to minimize the cost

2020 ◽  
pp. 002072092092853 ◽  
Author(s):  
Eklas Hossain ◽  
Feng Shi ◽  
Ramazan Bayindir ◽  
Jakir Hossain
Keyword(s):  
Renewable Energy ◽  
Alternative Energy ◽  
Renewable Energy Sources ◽  
Minimum Cost ◽  
Energy Sources ◽  
Case Scenario ◽  
Worst Case ◽  
Bad Weather ◽  
Energy Options ◽  
The Cost

Renewable energy sources are replacing other energy sources to minimize the cost of due to the conventional sources of energy. Solar and wind are readily available sources which will minimize the cost of electricity if implemented properly. Considering the weather and other relevant advantages, solar energy is a favorable option for a particular site. But it is extremely difficult for the implementation of the suggested renewable energy in a site which already has specific resources and existing infrastructure to replace. Several factors should be counted in for the selection and implementation of appropriate renewable source for fulfilling the demand. As a possible energy option, on-grid infrastructure is selected looking at its low necessity of development and hardware cost. This paper aims to impart the detailed designs of alternative energy options that will offset the annual irrigation costs of the Rainbow Youth Golf Education Program in Klamath County. Using simulator, a practical modeling of the system is performed to look at the cost associated with each case. After selecting a combination with the minimum cost, it is shown that the model decreases the irrigation cost compared to previous year. Other technological implications are also evaluated. Finally, worst case scenario is modeled using the simulator to show that even in the bad weather, the site’s energy supply model serves well both electrically and economically.

Heterogeneous effect of oil production on environmental degradation: panel evidence from OPEC member countries

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ismail Aliyu Danmaraya ◽  
Aminu Hassan Jakada ◽  
Suraya Mahmood ◽  
Bello Alhaji Ibrahim ◽  
Ahmad Umar Ali
Keyword(s):  
Renewable Energy ◽  
Environmental Degradation ◽  
Environmental Quality ◽  
Oil Production ◽  
The Body ◽  
Energy Sources ◽  
Asymmetric Effect ◽  
Content Type ◽  
Long Run ◽  
Opec Member

Purpose The purpose of this paper is to look at the asymmetric effect of oil production on environmental degradation in OPEC member countries from 1970–2019. Design/methodology/approach The authors build a nonlinear panel ARDL–PMG model using the Shin et al. (2014) nonlinear autoregressive distributed lag (ARDL) approach in panel form to assess both the short- and long-run impact of positive and negative oil production movements on CO2 emissions. Findings The result demonstrates that the variables are cointegrated. According to the linear long run coefficients, oil production, FDI inflows and economic growth both have a positive and significant relationship with CO2 emissions, implying that they deteriorate environmental quality in OPEC countries, while renewable energy has a negative relationship with CO2, implying that increasing renewable energy improves environmental quality. The asymmetric findings prove that positive and negative shocks of oil production exert a positive effect on carbon emissions in short run and long run. Research limitations/implications To begin with, the empirical assessments do not include all OPEC member nations; researchers are advised to resolve this constraint by looking at the economies of other OPEC members. Albeit the lack of data for other energy sources may serve as another constraint of this research, future research is expected to broaden the current framework via other energy sources such as nuclear, electricity, biomass, solar as well as wind. Originality/value The research adds to the body of knowledge as many of the prevailing studies in the literature failed to look at the asymmetric effect of oil production on the quality of environment. This is another gap in the literature that the current study is set out to fill. This study adds oil production as an explanatory variable and helps to extend the existing literature for OPEC countries, which could propose a solution to deal with ensuing environmental issues.

scholarly journals A SWOT Analysis for Offshore Wind Energy Assessment Using Remote-Sensing Potential

2020 ◽  
Vol 10 (18) ◽  
pp. 6398
Author(s):  
Meysam Majidi Nezhad ◽  
Riyaaz Uddien Shaik ◽  
Azim Heydari ◽  
Armin Razmjoo ◽  
Niyazi Arslan ◽  
...  
Keyword(s):  
Remote Sensing ◽  
Renewable Energy ◽  
Wind Energy ◽  
Power Plants ◽  
New Technologies ◽  
Renewable Energy Sources ◽  
Offshore Wind ◽  
Energy Sources ◽  
Measuring Instruments ◽  
Offshore Wind Energy

The elaboration of a methodology for accurately assessing the potentialities of blue renewable energy sources is a key challenge among the current energy sustainability strategies all over the world. Consequentially, many researchers are currently working to improve the accuracy of marine renewable assessment methods. Nowadays, remote sensing (RSs) satellites are used to observe the environment in many fields and applications. These could also be used to identify regions of interest for future energy converter installations and to accurately identify areas with interesting potentials. Therefore, researchers can dramatically reduce the possibility of significant error. In this paper, a comprehensive SWOT (strengths, weaknesses, opportunities and threats) analysis is elaborated to assess RS satellite potentialities for offshore wind (OW) estimation. Sicily and Sardinia—the two biggest Italian islands with the highest potential for offshore wind energy generation—were selected as pilot areas. Since there is a lack of measuring instruments, such as cup anemometers and buoys in these areas (mainly due to their high economic costs), an accurate analysis was carried out to assess the marine energy potential from offshore wind. Since there are only limited options for further expanding the measurement over large areas, the use of satellites makes it easier to overcome this limitation. Undoubtedly, with the advent of new technologies for measuring renewable energy sources (RESs), there could be a significant energy transition in this area that requires a proper orientation of plans to examine the factors influencing these new technologies that can negatively affect most of the available potential. Satellite technology for identifying suitable areas of wind power plants could be a powerful tool that is constantly increasing in its applications but requires good planning to apply it in various projects. Proper planning is only possible with a better understanding of satellite capabilities and different methods for measuring available wind resources. To this end, a better understanding in interdisciplinary fields with the exchange of updated information between different sectors of development, such as universities and companies, will be most effective. In this context, by reviewing the available satellite technologies, the ability of this tool to measure the marine renewable energies (MREs) sector in large and small areas is considered. Secondly, an attempt is made to identify the strengths and weaknesses of using these types of tools and techniques that can help in various projects. Lastly, specific scenarios related to the application of such systems in existing and new developments are reviewed and discussed.

scholarly journals The Cost-Benefit Analysis of the Electricity Production from Small Scale Renewable Energy Sources in the Conditions of Romania

2019 ◽  
Vol 32 ◽  
pp. 385-389 ◽  
Author(s):  
Pavel Atănăsoae ◽  
Radu Dumitru Pentiuc ◽  
Dan Laurențiu Milici ◽  
Elena Daniela Olariu ◽  
Mihaela Poienar
Keyword(s):  
Renewable Energy ◽  
Cost Benefit Analysis ◽  
Renewable Energy Sources ◽  
Cost Benefit ◽  
Electricity Production ◽  
Energy Sources ◽  
Small Scale ◽  
Benefit Analysis ◽  
The Cost
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