scholarly journals Analyzing Trade in Continuous Intra-Day Electricity Market: An Agent-Based Modeling Approach

Energies ◽  
2021 ◽  
Vol 14 (13) ◽  
pp. 3860
Author(s):  
Priyanka Shinde ◽  
Ioannis Boukas ◽  
David Radu ◽  
Miguel Manuel de Manuel de Villena ◽  
Mikael Amelin
Keyword(s):  
Renewable Energy ◽  
Electricity Market ◽  
Power Plants ◽  
Renewable Energy Sources ◽  
Thermal Power ◽  
Agent Based Modeling ◽  
Market Liquidity ◽  
Energy Sources ◽  
Modeling Framework ◽  
Agent Based

In recent years, the vast penetration of renewable energy sources has introduced a large degree of uncertainty into the power system, thus leading to increased trading activity in the continuous intra-day electricity market. In this paper, we propose an agent-based modeling framework to analyze the behavior and the interactions between renewable energy sources, consumers and thermal power plants in the European Continuous Intra-day (CID) market. Additionally, we propose a novel adaptive trading strategy that can be used by the agents that participate in CID market. The agents learn how to adapt their behavior according to the arrival of new information and how to react to changing market conditions by updating their willingness to trade. A comparative analysis was performed to study the behavior of agents when they adopt the proposed strategy as opposed to other benchmark strategies. The effects of unexpected outages and information asymmetry on the market evolution and the market liquidity were also investigated.

scholarly journals A SWOT Analysis Approach for a Sustainable Transition to Renewable Energy in South Africa

2021 ◽  
Vol 13 (7) ◽  
pp. 3933
Author(s):  
Solomon E. Uhunamure ◽  
Karabo Shale
Keyword(s):  
Climate Change ◽  
South Africa ◽  
Renewable Energy ◽  
Regional Integration ◽  
Power Plants ◽  
Swot Analysis ◽  
Climatic Conditions ◽  
Policy Implications ◽  
Analysis Approach ◽  
Renewable Energy Resources

South Africa is been faced with erratic power supply, resulting in persistent load shedding due to ageing in most of its coal-fired power plants. Associated with generating electricity from fossil fuel are environmental consequences such as greenhouse emissions and climate change. On the other hand, the country is endowed with abundant renewable energy resources that can potentially ameliorate its energy needs. This article explores the viability of renewable energy using the strengths, weaknesses, opportunities and threats (SWOT) analysis approach on the key renewable potential in the country. The result indicates that geographic position, political and economic stability and policy implementation are some of the strengths. However, Government bureaucratic processes, level of awareness and high investment cost are some of the weaknesses. Several opportunities favour switching to renewable energy, and these include regional integration, global awareness on climate change and the continuous electricity demand. Some threats hindering the renewable energy sector in the country include land ownership, corruption and erratic climatic conditions. Some policy implications are suggested based on the findings of the study.

scholarly journals Portfolio optimization of power plants by using renewable energy in Iran

2020 ◽  
Author(s):  
Seyedeh Asra Ahmadi ◽  
Seyed Mojtaba Mirlohi ◽  
Mohammad Hossein Ahmadi ◽  
Majid Ameri
Keyword(s):  
Renewable Energy ◽  
Portfolio Optimization ◽  
Energy Supply ◽  
Power Plants ◽  
Renewable Energy Sources ◽  
Modern Society ◽  
Sustainable Growth ◽  
Electricity Sector ◽  
Capital Costs

Abstract Lack of investment in the electricity sector has created a huge bottleneck in the continuous flow of energy in the market, and this will create many problems for the sustainable growth and development of modern society. The main reason for this lack of investment is the investment risk in the electricity sector. One way to reduce portfolio risk is to diversify it. This study applies the concept of portfolio optimization to demonstrate the potential for greater use of renewable energy, which reduces the risk of investing in the electricity sector. Besides, it shows that investing in renewable energies can offset the risk associated with the total input costs. These costs stem from the volatility of associated prices, including fossil fuel, capital costs, maintenance, operation and environmental costs. This case study shows that Iran can theoretically supply ~33% of its electricity demand from renewable energy sources compared to its current 15% share. This case study confirms this finding and predicts that Iran, while reducing the risk of investing in electricity supply, can achieve a renewable energy supply of ~9% with an average increase in supply costs. Sensitivity analysis further shows that with a 10% change in input cost factors, the percentage of renewable energy supply is only partially affected, but basket costs change according to the scenario of 5–32%. Finally, suggestions are made that minimize risk rather than cost, which will bring about an increase in renewable energy supply.

Aggregation Method of Multi-Criteria Evaluations in New and Renewable Energy Power Plants: A Case Study

2009 ◽  
Author(s):  
Jiang-Jiang Wang ◽  
Chun-Fa Zhang ◽  
You-Yin Jing
Keyword(s):  
Renewable Energy ◽  
Nuclear Power ◽  
Power Plants ◽  
Economic Cost ◽  
Evaluation Result ◽  
Singular Value Decomposition Method ◽  
Multi Criteria Evaluation ◽  
Potential Development ◽  
Value Decomposition ◽  
Grey Relational

The multi-criteria evaluation methods of complex systems such as the new and renewable technologies gradually spring up. The feasibility of energy power plants is evaluated and considered from many aspects, such as technology, economic cost and environment protection. However, the energy power plants’ ranking results in different methods or different weighs can be different. Accordingly, the sequencing results should be aggregated and analyzed, and then an integrated result should be given out. Aiming to get the specific evaluation result, 10 kinds of energy power plants, such as hydro, nuclear, wind, geothermal and biomass plants are considered and evaluated. The singular value decomposition method is employed to aggregate the evaluation results in grey relational method, PROMENTHEE II method, and other results from literature. The integrated evaluation result shows that the hydro and nuclear power plants are located on the first place and the renewable energy power plants have great potential development in the future.

Power Cycles of Generation III and III+ Nuclear Power Plants

2014 ◽  
Author(s):  
Alexey Dragunov ◽  
Eugene Saltanov ◽  
Igor Pioro ◽  
Pavel Kirillov ◽  
Romney Duffey
Keyword(s):  
Renewable Energy ◽  
Natural Gas ◽  
Thermal Efficiency ◽  
Nuclear Power ◽  
Power Plants ◽  
Renewable Energy Sources ◽  
Thermal Power ◽  
Electrical Energy ◽  
Energy Sources ◽  
Thermal Power Plants

It is well known that the electrical-power generation is the key factor for advances in any other industries, agriculture and level of living. In general, electrical energy can be generated by: 1) non-renewable-energy sources such as coal, natural gas, oil, and nuclear; and 2) renewable-energy sources such as hydro, wind, solar, biomass, geothermal and marine. However, the main sources for electrical-energy generation are: 1) thermal - primary coal and secondary natural gas; 2) “large” hydro and 3) nuclear. The rest of the energy sources might have visible impact just in some countries. Modern advanced thermal power plants have reached very high thermal efficiencies (55–62%). In spite of that they are still the largest emitters of carbon dioxide into atmosphere. Due to that, reliable non-fossil-fuel energy generation, such as nuclear power, becomes more and more attractive. However, current Nuclear Power Plants (NPPs) are way behind by thermal efficiency (30–42%) compared to that of advanced thermal power plants. Therefore, it is important to consider various ways to enhance thermal efficiency of NPPs. The paper presents comparison of thermodynamic cycles and layouts of modern NPPs and discusses ways to improve their thermal efficiencies.

Annual Yield Analysis of Solar Tower Power Plants With GREENIUS

2011 ◽  
Vol 133 (3) ◽  
Author(s):  
Jürgen Dersch ◽  
Peter Schwarzbözl ◽  
Timo Richert
Keyword(s):  
Renewable Energy ◽  
Power Plants ◽  
Software Tool ◽  
Parabolic Trough ◽  
Concentrating Solar Power ◽  
Solar Field ◽  
Performance Calculation ◽  
Design Power ◽  
Energy Plants ◽  
Renewable Energy Plants

An existing software tool for annual performance calculation of concentrating solar power and other renewable energy plants has been extended to enable the simulation of solar tower power plants. The methodology used is shown and a demonstrative example of a 50 MWe tower plant in southern Spain is given. The influence of design power and latitude on solar field layout is discussed. Furthermore, a comparison of the tower plant with a 50 MWe parabolic trough and a Linear Fresnel plant at the same site is given.

A techno-economic analysis of the roof top off-grid solar PV system for Jamshedpur, Jharkhand, India

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Mantosh Kumar ◽  
Kumari Namrata ◽  
Akshit Samadhiya
Keyword(s):  
Energy Source ◽  
Renewable Energy ◽  
Economic Analysis ◽  
Electricity Generation ◽  
Power Plants ◽  
Optimum Combination ◽  
Solar Array ◽  
Solar Pv ◽  
Pv System ◽  
Solar Pv System

Abstract As the exhaust rate of the conventional sources has geared up already, this is compelling the power industries to install the power plants based on the non-conventional sources so that future demand of the energy supply can be fulfilled. Among the various sources of renewable energy like wind, hydro, tidal etc., solar energy is the most easily accessible and available renewable energy source. Ensuring the feasibility of any energy source not only technical but also the economical perspective is the most important criteria. This paper has incorporated both the perspective and has done the techno-economic analysis to determine the optimum combination of the PV array size and battery size to minimize the overall electricity generation per unit. In this paper, a standalone solar PV system has been analyzed for the location of Jamshedpur, where an effort has been done to choose the optimum combination of the solar array and battery size within the desired range of LLP so that the electricity generation cost per unit can be minimized. The overall duration of the analysis has been done for a year and the outcome of the research has been verified with the help of MATLAB software.

Estimation and Feasibility of Generating Power Using Tidal Energy

2020 ◽  
Author(s):  
Satya Prasad Paruchuru ◽  
Siva Kalyani Koneti ◽  
Deepthi Jammula ◽  
Jashwitha Nuthalapati
Keyword(s):  
Renewable Energy ◽  
Power Plants ◽  
Space Exploration ◽  
Tidal Energy ◽  
Regions Of Interest ◽  
Working Fluid ◽  
Tidal Power ◽  
The Cost

Abstract Capturing the tidal energy is one of the ways of tapping natural and renewable energy which do not involve the cost of working fluid/ fuel. The present work focuses on some of the feasibility aspects of setting up of major tidal power plants along the seacoast. Besides, the present study synergizes on methods of estimating the power-producing capacities in regions along the seacoast. Estimation of power-producing capacities, calendar month-wise, and lunar month-wise gave handy information. Also, the estimation of power-producing capacities of different regions along a location gave clarity on the probable regions of interest for producing power simultaneously. A comparison of the estimates with the details of the literature authenticated the study. A discussion of producing more tidal power in specific locations gave insights into the aspects that may have been ignored in the literature. Geographic restrictions along the local seacoast like identifying the security-sensitive regions rationalized the estimating procedures. The paper includes a discussion of various factors that address the feasibility concerns. The study supposedly helps space exploration too.

Kazakhstan: Assessment of Renewable Energy Support and a Green Economy

2021 ◽  
Vol 12 (3) ◽  
pp. 631
Author(s):  
Sergey BESPALYY
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Power Plants ◽  
Renewable Energy Sources ◽  
The State ◽  
Green Economy ◽  
Energy Sources ◽  
Environmentally Sustainable ◽  
The Government ◽  
The Impact

The growth of renewable energy sources (RES) shows the desire of the government of Kazakhstan to meet challenges that affect the welfare and development of the state. National targets, government programs, policies influence renewable energy strategies. In the future, renewable energy technologies will act as sources of a green economy and sustainable economic growth. The state policy in the field of energy in Kazakhstan is aimed at improving the conditions for the development and support of renewable energy sources, amendments are being made to provide for the holding of auctions for new RES projects, which replaces the previously existing system of fixed tariffs. It is expected that the costs of traditional power plants for the purchase of renewable energy will skyrocket, provided that the goals in the field of renewable generation are achieved. This article provides an assessment of international experience in supporting renewable energy sources, as well as analyzes the current situation in the development of renewable energy in Kazakhstan and the impact on sustainable development and popularization of the «green» economy. The study shows that by supporting the development of renewable energy sources, economic growth is possible, which is achieved in an environmentally sustainable way.

scholarly journals Comparative Environmental, Economic, and Jobs Impacts in the USA of Renewable Energy Compared to Carbon Capture, Utilization, and Storage

2021 ◽  
pp. 1-7
Author(s):  
Roger H Bezdek ◽  
Keyword(s):  
Renewable Energy ◽  
Environmental Economic ◽  
Power Plant ◽  
Co2 Emissions ◽  
Carbon Capture ◽  
Power Plants ◽  
Economic Benefits ◽  
The Usa ◽  
Coal Power ◽  
And Storage

This paper assesses the relative economic and jobs benefits of retrofitting an 847 MW USA coal power plant with carbon capture, utilization, and storage (CCUS) technology compared to replacing the plant with renewable (RE) energy and battery storage. The research had two major objectives: 1) Estimate the relative environmental, economic, and jobs impacts of CCUS retrofit of the coal plant compared to its replacement by the RE scenario; 2) develop metrics that can be used to compare the jobs impacts of coal fueled power plants to those of renewable energy. The hypotheses tested are: 1) The RE option will reduce CO2 emissions more than the CCUS option. We reject this hypothesis: We found that the CCUS option will reduce CO2 emissions more than the RE option. 2) The RE option will generate greater economic benefits than the CCUS option. We reject this hypothesis: We found that the CCUS option will create greater economic and jobs benefits than the RE option. 3) The RE option will create more jobs per MW than the CCUS option. We reject this hypothesis: We found that the CCUS option will create more jobs per MW more than the RE option. We discuss the implications of these findings.

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