scholarly journals Constrained Generation Bids in Local Electricity Markets: A Semantic Approach

Energies ◽  
2020 ◽  
Vol 13 (15) ◽  
pp. 3990
Author(s):  
Gabriel Santos ◽  
Pedro Faria ◽  
Zita Vale ◽  
Tiago Pinto ◽  
Juan M. Corchado
Keyword(s):  
Electricity Markets ◽  
Business Models ◽  
Early Stage ◽  
Renewable Energy Sources ◽  
Electric Energy ◽  
Software Tools ◽  
Local Energy ◽  
Business Rules ◽  
Semantic Approach ◽  
Semantic Web Technologies

The worldwide investment in renewable energy sources is leading to the formation of local energy communities in which users can trade electric energy locally. Regulations and the required enablers for effective transactions in this new context are currently being designed. Hence, the development of software tools to support local transactions is still at an early stage and faces the challenge of constant updates to the data models and business rules. The present paper proposes a novel approach for the development of software tools to solve auction-based local electricity markets, considering the special needs of local energy communities. The proposed approach considers constrained bids that can increase the effectiveness of distributed generation use. The proposed method takes advantage of semantic web technologies, in order to provide models with the required dynamism to overcome the issues related to the constant changes in data and business models. Using such techniques allows the system to be agnostic to the data model and business rules. The proposed solution includes the proposed constraints, application ontology, and semantic rule templates. The paper includes a case study based on real data that illustrates the advantages of using the proposed solution in a community with 27 consumers.

scholarly journals RENEWABLE ENERGY CERTIFICATES: APPLICATION POTENTIAL AND EFFIENCY

2020 ◽  
Vol 11 (1) ◽  
pp. 14-27
Author(s):  
M. M. Balashov
Keyword(s):  
Renewable Energy ◽  
Electricity Markets ◽  
Financial Burden ◽  
Renewable Energy Sources ◽  
Electric Energy ◽  
Energy Sources ◽  
Market Participants ◽  
The World ◽  
State And Market ◽  
Domestic Electricity

At the international level, the problem of the need to increase the contribution of renewable energy sources to domestic electricity demand is highly relevant. Since the production of renewable energy sources is quite expensive, many countries are developing various state and market incentives for investment in such energy sources. One such incentive is renewable energy certificates. The role of these certificates in the development of global renewable energy markets is invaluable. They not only help businesses achieve their goals in the field of renewable energy, but also reduce consumer payments for other renewable energy development programs. This article analyzes the current trends in the use of renewable energy certificates in the world and identifies the prospects for their use in the Russian Federation. In addition, the author of the article studied the issue of cost-effectiveness of renewable certificates. In order to assess the positive economic impact of the application of the certification system, calculations have been made to reduce the financial burden on participants in the Wholesale Electricity and Power Market by taking into account the funds received from the sale of these certificates to reduce payments by market participants to generators based on renewable sources under the program of agreements on the provision of capacity for generating objects operating on the basis of renewable energy sources, from the date of the start of supply of electric energy and of the last planned facility until the date of the last payment under the power capacity agreement. In addition, the author of the article studied the need for renewable energy certificates not only to obtain reliable data on the use of renewable energy sources, but also to create efficient electricity markets using renewable energy sources around the world.

scholarly journals Electricity Markets during the Liberalization: The Case of a European Union Country

Energies ◽  
2021 ◽  
Vol 14 (14) ◽  
pp. 4317
Author(s):  
Štefan Bojnec ◽  
Alan Križaj
Keyword(s):  
Electricity Markets ◽  
Electricity Market ◽  
Renewable Energy Sources ◽  
Primary Energy ◽  
Lessons Learned ◽  
Policy Implications ◽  
Daily Maximum ◽  
Energy Prices ◽  
Electricity Prices ◽  
Electricity Power

This paper analyzes electricity markets in Slovenia during the specific period of market deregulation and price liberalization. The drivers of electricity prices and electricity consumption are investigated. The Slovenian electricity markets are analyzed in relation with the European Energy Exchange (EEX) market. Associations between electricity prices on the one hand, and primary energy prices, variation in air temperature, daily maximum electricity power, and cross-border grid prices on the other hand, are analyzed separately for industrial and household consumers. Monthly data are used in a regression analysis during the period of Slovenia’s electricity market deregulation and price liberalization. Empirical results show that electricity prices achieved in the EEX market were significantly associated with primary energy prices. In Slovenia, the prices for daily maximum electricity power were significantly associated with electricity prices achieved on the EEX market. The increases in electricity prices for households, however, cannot be explained with developments in electricity prices on the EEX market. As the period analyzed is the stage of market deregulation and price liberalization, this can have important policy implications for the countries that still have regulated and monopolized electricity markets. Opening the electricity markets is expected to increase competition and reduce pressures for electricity price increases. However, the experiences and lessons learned among the countries following market deregulation and price liberalization are mixed. For industry, electricity prices affect cost competitiveness, while for households, electricity prices, through expenses, affect their welfare. A competitive and efficient electricity market should balance between suppliers’ and consumers’ market interests. With greening the energy markets and the development of the CO2 emission trading market, it is also important to encourage use of renewable energy sources.

scholarly journals Can Financial Economics Cure Cancer?

2021 ◽  
Author(s):  
Andrew W. Lo
Keyword(s):  
High Throughput Screening ◽  
Business Models ◽  
Positive Impact ◽  
Early Stage ◽  
Genome Project ◽  
Gene Therapies ◽  
Biomedical Innovation ◽  
New Business ◽  
The Cost ◽  
The Human Genome Project

AbstractFunding for early-stage biomedical innovation has become more difficult to secure at the same time that medical breakthroughs seem to be occurring at ever increasing rates. One explanation for this counterintuitive trend is that increasing scientific knowledge can actually lead to greater economic risk for investors in the life sciences. While the Human Genome Project, high-throughput screening, genetic biomarkers, immunotherapies, and gene therapies have made a tremendously positive impact on biomedical research and, consequently, patient lives, they have also increased the cost and complexity of the drug development process, causing many investors to shift their assets to more attractive investment opportunities. This suggests that new business models and financing strategies can be used to reduce the risk and increase the attractiveness of biomedical innovation so as to bring new and better therapies to patients faster.

Flywheel energy storage systems and their applications in power engineering

2021 ◽  
Vol 6 ◽  
pp. 26-34
Author(s):  
Vladimir Poltavets ◽  
Irina Kolchanova
Keyword(s):  
Renewable Energy ◽  
Energy Storage ◽  
Storage Systems ◽  
Renewable Energy Sources ◽  
Supply And Demand ◽  
Electric Energy ◽  
Energy Generation ◽  
Flywheel Energy Storage ◽  
Energy Storage Systems ◽  
Continuous Growth

The continuous growth of renewable energy sources has drastically changed the paradigm of electric energy generation and distribution. Flywheel energy storage systems are a clean and efficient method to level supply and demand in energy grids, including those incorporating renewable energy generation. Environmental safety, resilience, high power capacity and quality make flywheel energy storage very promising. This paper contains a review of flywheel energy storage systems, already being in operation, and applications of flywheel energy storage in general.

scholarly journals A tool to model and simulate dynamic business models

2020 ◽  
Author(s):  
Norman Schaffer ◽  
Martin Engert ◽  
Girts Leontjevs ◽  
Helmut Krcmar
Keyword(s):  
Business Model ◽  
Business Models ◽  
Web Applications ◽  
Design Science ◽  
Science Research ◽  
Software Tools ◽  
Strategic Decision ◽  
Future Research ◽  
Great Promise ◽  
Model Components

Software tools hold great promise to support the modeling, analyzing, and innovation of business models. Current tools only focus on the design of business models and do not incorporate the complexity of existing interdependencies between business model components. These tools merely allow simulating inherent dynamics within the models or different strategic decision scenarios. In this research, we use design science research to develop a prototype that is capable of modeling and simulating dynamic business models. We use system dynamics as a simulation approach and containers to allow deployment as web applications. This paper represents the first of three design cycles, realizing six out of 59 requirements that are collected from the literature on software tools for business models. We contribute toward the design of novel artifacts for business model innovation as well as their evaluation. Future research can use these results to build tools that consider and address the complexity of business models. Lastly, we present several options for extending the proposed tool in the future.

scholarly journals Energy Storage as a System Resource

2020 ◽  
Author(s):  
Ramon Leon ◽  
Maria Camila Ochoa ◽  
Alejandro Gutierrez
Keyword(s):  
Energy Storage ◽  
Electricity Markets ◽  
Large Scale ◽  
Business Models ◽  
Power Grids ◽  
Renewable Energy Resources ◽  
Grid Resource ◽  
Electric Industry ◽  
Sustainable Business ◽  
System Resource

The origins of the electric industry can be traced back to the invention of the battery. However, Energy Storage Systems (ESS) have never been considered as a part of the electricity supply chain. Even though there has been an increase of government mandated storage investments in power grids, market driven investments are still lacking sustainable business models. Now, with the possibility that cost reductions of the technology make it viable for widespread utilization, multiple efforts have been devoted by the academia and industry to design its incorporation into electricity markets. A large majority of the proposals have been devoted to develop mechanisms for their incorporation in ancillary services markets or for arbitrage, considering storage as another market player, both still with little success in providing sustainable benefits to energy consumers and investors alike. In this paper, we demonstrate that Large Scale Energy Storage excels when incorporated as a service provider in electricity markets. Our proposal considers ESS as a grid resource, available to the ISO to achieve the optimal mix of resources in the day ahead dispatch. We demonstrate that in the Colombian system, a large ESS used in this manner may achieve high benefit-cost ratios. The results also indicate that current market designs need to evolve in order to take better advantage of energy storage and renewable energy resources.

scholarly journals Sustainable development in the city of Heidelberg

2015 ◽  
Vol 2 (313) ◽  
Author(s):  
Alicja Małgorzata Graczyk
Keyword(s):  
Sustainable Development ◽  
Early Stage ◽  
Renewable Energy Sources ◽  
Local Level ◽  
Local Heat ◽  
The Sustainable Development ◽  
Ecological Awareness ◽  
Development Goals ◽  
High Level ◽  
The City

The city of Heidelberg has won twice the price of European Sustainable City Award. The paper presents the latest author’s investigation (July 2014) about the sustainable development in the Heidelberg. The aim of the article is an analyses and assessment of the implementation of sustainable development in the city. The policy and economical instruments implemented at the local level at the very early stage (early 90s) help the city to build ecological education and shape ecological style of life.. The city citizens have a very high level of ecological awareness and very often participate in policy decisions, shaping sustainable development goals of the Heidelberg. The main local priorities for sustainable development are: climate and environment protection, rising energy efficiency by using renewable energy sources, local heat district, ecological transport and building in passive standard.

scholarly journals BANKING SYSTEMS IN ROMANIA AND ICELAND: TWO DIFFERENT WORLDS BUT SIMILAR DEVELOPMENT

2017 ◽  
Vol 6 (2) ◽  
pp. 24
Author(s):  
Claudia Gabriela Baicu ◽  
Mar Wolfgang Mixa
Keyword(s):  
Business Models ◽  
Global Financial Crisis ◽  
Early Stage ◽  
Second World War ◽  
Banking Systems ◽  
Study Results ◽  
Bank Privatization ◽  
The Global Financial Crisis ◽  
Second World ◽  
Similar Development

The novelty of this paper is the comparative analysis of the Romanian and Icelandic banking systems. The study results reveal that despite the fact that Romania and Iceland are two different worlds, there are several similarities between the banking systems of these countries. They include a late development of banking systems, foreigners contributing a great deal to the development of the banking systems in the early stage of evolution. After the Second World War until the 1990s specialized banks operated in both countries. The banking systems of both countries prior to the 1990s were dominated by politics. Liberalization of banking and capital occurred both in Romania and Iceland after 1990; the bank privatization process took place during a similar period (1999-2006, Romania; 1998-2002, Iceland). Before privatization, banks in both countries lacked experience in a new banking “arena”. The global financial crisis greatly affected the two banking systems. Despite similarities, the evolution of the two banking systems was also marked by differences, notably the ownership origin of banks after privatization (foreign dominance in Romania; domestic owners in Iceland) and different business models developed by banks in the pre-crisis period.      

scholarly journals Application of Life-cycle Assessment for the Study of Carbon and Water Footprints of the 16.5 MWe Wind Farm in Villonaco, Loja – Ecuador

2021 ◽  
Author(s):  
Alberto Tama Franco
Keyword(s):  
Climate Change ◽  
Life Cycle ◽  
Energy Demand ◽  
Wind Farm ◽  
Renewable Energy Sources ◽  
Electric Energy ◽  
Electricity Production ◽  
Energy Sources ◽  
Cumulative Energy ◽  
Cumulative Energy Demand

Wind technology is considered to be among the most promising types of renewable energy sources, and due to high oil prices and growing concerns about climate change and energy security, it has been the subject of extensive considerations in recent years, including questions related to the relative sustainability of electricity production when the manufacturing, assembly, transportation and dismantling processes of these facilities are taken into account. The present article evaluates the environmental impacts, carbon emissions and water consumption, derived from the production of electric energy of the Villonaco wind farm, located in Loja-Ecuador, during its entire life cycle, using the Life Cycle Analysis method. Finally, it is concluded that wind energy has greater environmental advantages, since it has lower values of carbon and water footprints than other energy sources. Additionally, with the techniques Cumulative Energy Demand and Energy Return on Investment, sustainability in the production of electricity from wind power in Ecuador is demonstrated; and, that due to issues of vulnerability to climate change, the diversification of its energy mix is essential considering the inclusion of non-conventional renewable sources such as solar or wind, this being the only way to reduce both the carbon footprint and the water supply power.

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