Capital Cost Research Articles

Counter Accounting and Counter Accountability: A Post‐COVID‐19 Study of England's Hospital Infrastructure Crisis

Post‐COVID‐19 England's health‐care system remains in crisis, with growing waiting lists for elective care and rising backlog maintenance in its hospital infrastructure. The government indicates that its delivery plan issued in 2022, involving additional funding and greater use of the private sector, will tackle this problem. Framed as a consequence of the pandemic, in England, such a framing denies the historic problem of underfunding as well as the rise of financialization. Notably public accountability for health care has received little prominence over the past decade. This study uses an approach based on counter accounting to challenge the prevailing hegemony of English National Health System (NHS) health‐care infrastructure policy and offers a counter‐explanation of the current hospital infrastructure crisis. It examines an alternative set of evidence drawn from publicly available financial statements and other documents to make visible data relating to hospital infrastructure capital and revenue costs. This shows that health care has been systematically underfunded since the start of austerity in 2010, and that even additional funding during COVID‐19 was insufficient to make up the shortfall. Previously weakened accountability mechanisms have been further displaced from the public eye by the rhetoric around COVID‐19, meaning there is little challenge of private sector legitimacy in public health‐care provision, despite its financialized nature. The study considers that instigating strong oversight and evaluation of hospital infrastructure policy is necessary as over the next decade many private sector contracts will terminate and funding is likely to be in short supply.

NANOPORE-BASED INTRA-OPERATIVE CLASSIfiCATION OF CENTRAL NERVOUS SYSTEM TUMOURS IN THE NHS

Abstract AIMS The 2021 WHO classification of CNS tumours necessitates the use of molecular testing in order to reach a confident diagnosis of many tumour types. At present, this is achieved using array-based technology delivered by a centralised model. This approach has inherent delays that mean it is often several weeks before the treating clinical team is informed of diagnosis, delaying the start of adjuvant therapy and causing significant distress for patients. As such, there is an urgent need to rethink this pathway and improve time to diagnosis. Nanopore longread sequencing technology has the potential to enable a paradigm shift in diagnostic and therapeutic pathways, offering rapid, comprehensive molecular diagnosis that can be performed in the intra-operative setting. We aimed to test the hypothesis that intra-operative methylation-based classification can be performed using nanopore sequencing and thereby expediently inform surgical and oncological decision-making. METHOD Oxford Nanopore Technology (ONT) is a native-strand, long-read sequencing platform that can perform copy- number profiling along with parallel single-gene methylation, structural variant, mutational and methylation analyses. Capital and consumable costs are relatively low, and testing can be performed in the local setting on single samples. We have optimised DNA extraction and library preparation for rapid tissue processing. We have developed a robust bioinformatic pipeline which is able to produce intraoperative classification within minutes of sequencing and full molecular profiling after 24 hours. RESULTS We demonstrate the feasibility of using ONT to deliver intra-operative methylation-based classification of CNS tumours in ‘realtime’ within an NHS hospital setting and will discuss the challenges of implementing this testing and the opportunities to inform neuro-oncological practice. CONCLUSION By giving a summary of our novel protocol of rapid DNA extraction, library preparation and bioinformatic analysis, we will show that this approach can revolutionise the diagnosis of brain tumours and has the potential for rapid adoption by non-expert laboratories.

Impact of Cost Structure on Indonesia Food Industry Value Added

The food industry is a consistently growing sector, even in challenging economic conditions, driven by population growth and increased demand. Recognizing its importance, the Indonesian government has identified the food and beverage industry as a key sector in its Industry 4.0 roadmap. However, challenges such as reliance on imported raw materials and high labor absorption rates persist. This study analyzes the impact of cost structure on the value-added in Indonesia's food industry from 2017 to 2021, using data from Indonesia Statistics on large and medium industries. The Panel Data Regression results reveal that raw material costs and fixed capital costs positively and significantly affect value-added. These findings suggest that effective cost management, innovation, and the use of advanced technology are crucial for optimizing value-added in this sector.

Optimization of reversible solid oxide cell system capacity combined with an offshore wind farm for hydrogen production and energy storage using the PyPSA power system modelling tool

AbstractEight scenarios where high efficiency reversible solid oxide cells (rSOC) are combined with an offshore wind farm are identified. Thanks to the PyPSA power system modelling tool combined with a sensitivity study, optimized rSOC system capacities, hydrogen storage capacities, and subsea cable connection capacities are investigated under various combinations of rSOC system capital cost, prices paid for hydrogen, and electricity prices, which give indications on the most profitable scenario for offshore hydrogen production from a 600 MW wind farm situated 60 km from shore. Low electricity prices (yearly average 45 £/MWh) combined with mild fluctuations (standard deviation 6 or 13 £/MWh) call for dedicated hydrogen production when the hydrogen price exceeds 4 £/kg. High electricity prices (yearly average 118 or 204 £/MWh), combined with extreme fluctuations (standard deviation between 73 and 110 £/MWh), make a reversible system economically profitable. The amount of hydrogen which is recommended to be reconverted into electricity depends on the price paid for hydrogen. Comparison of the optimized cases to the default case of a wind farm without hydrogen production improved profit by at least 3% and up to 908%. Comparison to the default case of dedicated hydrogen production, showed that in the case of low hydrogen prices, an unprofitable scenario can be made profitable, and improvement of profit in the case of a profitable default case starts at 4% and reaches numbers as high as 324%.

Study of microwave hardwood board modification and drying: experiments and technical-economic assessment

The very low permeability of many hardwood species causes problems during lumber drying. These include very long drying times, drying defects, large material losses after drying, high energy consumption, and expensive drying processes. Jarrah (Eucalyptus marginata) is a species which very difficult to dry. Microwave (MW) wood modification and MW drying can provide an increase in wood permeability and solve some hardwood drying problems. Two 60 kW MW conveyor plants at frequencies 2.45 and 0.922 GHz were used for experiments. The study of MW Jarrah (29x87mm) board drying after pre-drying MW modification showed that it is possible to dry boards in the moisture content range from 70 to 10% during 147-159 hours (6 -7 days) using the cycle method of MW power application. Such intensive MW drying does not bring perceptible damage to the wood and provides low variability of moisture content in the board cross sections. The shorter drying times reduce associated capital, space, energy and labor costs whilst the reduction in drying defects can increase yields. A short time of MW drying provides an opportunity to develop conveyor systems for hardwood sawn timber drying. Economic assessment of MW Jarrah board drying showed that a specific drying cost ranges from US$ 50 to $277/m3 at electricity prices from US$0.08 to $0.32/kWh. The electricity costs form the largest share in total specific drying costs - 44 to 82%. Jarrah boards are expensive product and MW drying costs can be acceptable for industry taking into consideration savings provided by fast drying and wood loss reduction.

Barcode 100K Specimens: In a Single Nanopore Run.

It is a global priority to better manage the biosphere, but action must be informed by comprehensive data on the abundance and distribution of species. The acquisition of such information is currently constrained by high costs. DNA barcoding can speed the registration of unknown animal species, the most diverse kingdom of eukaryotes, as the BIN system automates their recognition. However, inexpensive sequencing protocols are critical as the census of all animal species is likely to require the analysis of a billion or more specimens. Barcoding involves DNA extraction followed by PCR and sequencing with the last step dominating costs until 2017. By enabling the sequencing of highly multiplexed samples, the Sequel platforms from Pacific BioSciences slashed costs by 90%, but these instruments are only deployed in core facilities because of their expense. Sequencers from Oxford Nanopore Technologies provide an escape from high capital and service costs, but their low sequence fidelity has, until recently, constrained adoption. However, the improved performance of its latest flow cells (R10.4.1) erases this barrier. This study demonstrates that a MinION flow cell can characterise an amplicon pool derived from 100,000 specimens while a Flongle flow cell can process one derived from several thousand. At $0.01 per specimen, DNA sequencing is now the least expensive step in the barcode workflow.

Association Between Ultra-Processed Food Consumption and Cognitive Performance Among Adolescent Students From Underdeveloped Cities in Brazil: A Cross-Sectional Study.

The association between ultra-processed foods (UPF) consumption and cognitive performance needs to be better characterized in adolescents, especially in low-income settings, where the cost of human capital is high. This study investigated the association between cognitive performance and UPF in adolescents from the countryside of the Brazilian Northeast. Adolescents (15-18years old) from three public high schools were included. Food intake was assessed using three 24-hour dietary recalls. The classification of foods as UPF was determined according to the Nova classification. Cognitive performance was evaluated using the Non-Verbal General Intelligence Test. 116 adolescents were included, of which 50 (43.1%) showed low cognitive performance. The average energy intake was 1973.5 kcal, with 24.2% coming from UPF. Participants with low cognitive performance consumed 26.5% (95% CI: [22.2; 30.7]%) of daily energy intake from UPF compared to 22.5% ([18.8; 26.2]%) of those with medium-high cognitive performance (P = 0.17), without differences in energy and macronutrient intake. Despite similar UPF consumption compared to the Brazilian average, no association was found between UPF consumption and cognitive performance in this low-income adolescent sample.

Audit Quality, Auditor Specialization, and Sustainability Reporting: Their Impact on Cost of Capital Moderated by Company Size of the Kompas 100 Index in the Indonesia Stock Exchange Market

The capital market has become an attractive instrument for both local and foreign investors. This study aims to analyze and provide empirical evidence regarding the influence of audit quality, auditor specialization, and sustainability reporting on the cost of capital. Additionally, it investigates how company size moderates the relationship between these variables and the cost of capital. The study focuses on companies listed in the Kompas 100 Index on the Indonesia Stock Exchange (IDX) from 2018 to 2022. A quantitative approach is employed, utilizing secondary data available from the IDX (www.idx.go.id), specifically from company annual reports. Data collection involved recording relevant information from the annual reports of each company. The population of the study comprises companies included in the Kompas 100 Index, with a sample selected through non-probability sampling (purposive) with the criteria of being listed in the Kompas 100 Index for the consecutive periods of 2018 to 2022, sample resulted 54 companies. The data analysis method applied is Moderated Regression Analysis (MRA). The results reveal that audit quality has a negative effect on the cost of capital, while auditor specialization shows no significant effect. Furthermore, sustainability reporting also has a negative effect on the cost of capital. As for the moderating variable, company size successfully moderates the relationship between audit quality and the cost of capital, but it does not moderate the effect of auditor specialization or sustainability reporting on the cost of capital.

Effect of the temperature control device on the emission character of condensable particulate matter from industrial heating plant

Condensable particulate matter (CPM) is one of the major emissions of primary particles in coal combustion. The removal efficiency of CPM using the temperature control device (TCD) based on the concept of a heat exchanger application with lower capital cost was investigated in an industrial heating plant. TCD operates without water and flue gas interactions and ensures efficient control of CPM emissions, and it also minimizes the potential ion accumulation in recycled WESP water, which could otherwise hinder the removal of CPM. The total mass and chemical speciation were determined by EPA method 202. The total mass of CPM was removed by 25.7–60.6% after the TCD. The CPM captured by CPM filters (CPMspa) was down to around 15–21% and the FPM also was reduced by around 11–26%. The occurrence of vapor gradient forces and thermophoresis forces could enhance the contact between CPM and water film, which was built up on the surface of the cooling tubes during the process of TCD. Then, part of the CPM was removed with a water film. The low capital and operating cost of TCD can be installed in the industrial heating plant or be set up after the WESP in the coal-fired power plant to enhance the CPM removal efficiency.

Less is more: Optimisation of variable catalyst loading in CO[formula omitted] electroreduction

The electrochemical conversion of CO2 is a promising method of carbon-neutral chemical production. However, commercial realisation in aqueous electrolytes is challenging, due to competition with the hydrogen evolution reaction (HER), and the propensity for CO2 to participate in the carbonate equilibrium reactions. These two phenomena are linked through OH− ions, as both the by-product of the catalytic reactions and the culprit behind the parasitic carbonate reactions. By reducing the local catalyst loading where the CO2 concentration is low, the HER is decreased more than the reactions that are dependent on CO2 as a reactant. Therefore, it is possible to improve reaction selectivity and reactant utilisation while reducing the capital cost of catalyst. We demonstrate this theory through an analytical solution of a 1D flow electrolyser model. We extend this to a comprehensive model of a contemporary gas-diffusion electrode (GDE) setup. We find that the operation costs are dominated by the electrolyser power consumption and, to a lesser degree, the cost of CO2 and its recovery at the anode. We numerically obtain the catalyst loading profiles that maximise operating profit. The optimisation process reveals that profits are maximised for high gas flow rates, and consequently, low single pass conversions, where the CO2 concentration is as high as possible. However, when lower gas flow rates are used for practical reasons, variable catalyst loadings are shown to lead to significant operational improvements, especially in the production of higher C products that require a greater number of electrons transferred. The model is made freely available in MATLAB and its use is encouraged in determining the applicability of variable catalyst loading to future experimental setups.

Towards sustainable hydrogen production: Integrating electrified and convective steam reformer with carbon capture and storage

This work reports the design of a process for hydrogen production based on electrified steam methane reforming (e-SMR) coupled with a convective reforming (convective SMR) and carbon capture and storage (CCS) as an alternative to conventional fuel-fired reforming to reduce natural gas (NG) consumption as well as carbon dioxide emissions. The energy required by the reforming reaction is supplied by direct electric heating instead of burning fossil fuel in the radiant section of a furnace, saving 35 % NG and reducing CO2 emission by 29 %. Implementing convective SMR reduces the electric load of the main e-SMR reactor and ensures a slightly higher thermal efficiency (80.2 %) compared to conventional fuel-fired reforming (78.9 %). Further CO2 emissions (85 %) and NG consumption reduction (50 %) are possible by adopting amine-based CO2 capture. If coupled with an energy integration scheme, it is possible to capture 75 % of the CO2 produced, preserving high energy efficiency (79.4 %). This requires only a 14 % increase in capital costs, which is strongly beneficial compared to applying CO2 capture to flue gases of the fuel-fired reforming (69.8 % efficiency and 80 % more capital costs).The process based on e-SMR coupled with convective SMR and CO2 capture ensures a levelized cost of hydrogen (LCOH) of 0.281 € Nm−3 H2, which is much lower than the conventional fuel-fired reforming with CO2 capture applied to flue gases (0.309 € Nm−3 H2). Moreover, it has comparable CO2 emissions (1.59 vs 0.99 kg CO2 emitted kg−1 H2) but produces lower CO2 (6.39 vs 9.88 CO2 produced kg−1 H2) compared to fuel-fired reforming due to using renewable electricity as energy source for the SMR. Compared to conventional fuel-fired reforming, the same process provides similar LCOH (0.283 vs 0.282 € Nm−3 H2) but with drastically lower CO2 emissions (1.59 vs 8.99 kg CO2 emitted kg−1 H2).

Regulatory Barriers For Entrepreneurship and Start-Ups In Renewable Energy: Bibliometric Analysis

This article conducts a bibliometric analysis to investigate regulatory barriers faced by entrepreneurs and start-ups in the renewable energy sector. The research highlights how inconsistent and outdated regulations in many regions challenge the growth and scalability of renewable energy ventures. Key barriers include complex permitting processes, restrictive grid connection policies, and inadequate support mechanisms such as subsidies and tax incentives. The study underscores that although global investment in renewable energy technologies has grown, many emerging and developing economies lag behind due to high capital costs and regulatory hurdles. The methodology involves data collection from the Scopus database using specified keywords such as “entrepreneurship,” “start-ups,” “renewable energy,” and “regulatory barriers.” One hundred seven documents published between 2002 and 2024 were analysed through bibliometric techniques using tools like Biblioshiny and Excel. The study cleans and processes data by removing irrelevant terms and consolidating synonyms to improve the accuracy of the bibliometric analysis. Key research indicators, such as the h-index, g-index, m-index, and citation rates, are employed to evaluate the impact of publications and authors. The analysis also focuses on co-citation networks, clustering keywords, and tracking the evolution of themes over time. Results reveal that regulatory barriers to renewable energy entrepreneurship are widely studied but fragmented. Five main keyword clusters were identified: renewable energy technologies, policy and regulatory frameworks, business models, economic development, and environmental sustainability. A notable trend is the convergence of interdisciplinary research, combining economic, policy, and technological perspectives on overcoming barriers. The analysis highlights a significant publication growth in recent years, peaking in 2022 with 15 publications, which reflects an increasing academic interest in this area. The most cited papers often discuss solutions to regulatory challenges, such as streamlining administrative processes, improving grid access, and implementing supportive financial mechanisms. Case studies from leading renewable energy markets, like Germany and California, showcase successful strategies that have fostered innovation and allowed start-ups to thrive. However, the study emphasises that many emerging markets continue to struggle with outdated regulatory frameworks that hinder the commercialisation of new technologies, particularly in energy storage. The study concludes that future research should focus on detailed longitudinal studies and interdisciplinary approaches that combine legal, economic, and technological analyses. Policymakers are urged to adopt flexible, adaptive regulations to support innovation in renewable energy, ensuring that start-ups can leverage technological advancements and contribute to the global energy transition.

Mass customization using hybrid manufacturing and smart assembly: An optimal configuration and platform design approach

Hybrid Manufacturing (HM) and smart assembly stand as pivotal pillars in advanced smart manufacturing systems, offering manufacturers highly efficient and adaptable solutions for manufacturing. This paper delves into the configuration of a production line that integrates HM and assembly stages, each comprising multiple cells, with each cell housing one or more parallel stations. The objective is to manufacture a family of final assemblies, leveraging the platform concept to defer mass customization to later stages and thereby minimize processing costs. A mathematical programming model is proposed to identify the optimal configuration for such production lines, considering constraints such as an allowable capital cost and machine availabilities. In addition, the precedence, inclusion, and seclusion restrictions imposed on the part family are considered. The proposed mathematical programming model aims to delineate which HM features are processed in the part platform cell versus those processed in the mass customization (part variants) cells. Simultaneously, the model determines the components (variants from the HM stage) of final assemblies processed in the assembly platform cell, as well as components assembled or disassembled in the final assembly cells. Furthermore, the model seeks to determine the required number of stations in each cell to meet periodic demand. The overall objective of the model is to minimize the capital and the processing cost. A detailed case study illustrates the effectiveness of the proposed configuration approach and mathematical model. The proposed model is solvable in a few seconds by using commercial solvers.

Barriers to circular economy adoption are diverse and some are business-model specific: Evidence from the Australian cheese manufacturing sector

Achieving Sustainable Development Goal (SDG) 12.3, aimed at halving food loss and waste by 2030, requires private firms to adopt circular economy practices, which may include different types of circular business models (CBMs). This study examines four interchangeable CBMs—in-house (IH), third party (TP), joint venture (JV), and focal company (FC) models—focusing on the Australian cheese manufacturing sector and its liquid by-product, ‘whey’. Through semi-structured interviews with 43 participants from 42 firms, we analysed how barriers differ across CBMs. Some barriers are consistent across all CBMs, such as economies of scale and operational costs. Others are absent in one or two CBMs (e.g., capital costs in JV and competing priorities in TP), while some are unique (e.g., low or inconsistent demand in IH, payment expectations in TP, conflicting values or personalities in JV, and upstream product specifications in FC). Findings indicate that while IH models are feasible for all production scales with sufficient time and resources. TP models are suitable for firms with time constraints, provided there is agreement on compensation with the recipient. JV could work for firms lacking volumes or capital but require local collaboration and transparent business plans. Utilising existing infrastructure of firms already repurposing by-products can be effective but requires upstream firms meeting product specifications. By exploring multiple CBM options, the willingness to explore circular economy approaches increases markedly when considering multiple CBMs (79%) versus IH approaches alone (33%). This highlights the necessity for diverse strategies to achieve SDG 12.3, as a one-size-fits-all approach is insufficient. Firms may need to partner with others for repurposing, and those already repurposing can enhance efforts by enabling others to repurpose waste, though multiple pathways also increase potential barriers.

Inclusion of phase III clinical trial costs in health economic evaluations

IntroductionProtocol-driven trial activities contribute to the utility gain demonstrated in the phase III clinical trial of a new drug. If this utility gain cannot be distinguished from the effects of the new drug itself, protocol-driven trial costs cannot be easily dismissed for consistency reasons. This study aims to estimate the impact of including per-patient costs of phase III clinical trials on the incremental cost-effectiveness ratio (ICER).MethodsThe analysis utilized a modeling approach with secondary data from an ad-hoc literature review, considering both societal and payer perspectives. While the costs of phase III clinical trials may cancel out during the period of “normal” life-years due to the incremental cost calculation, they do not cancel out when differential early treatment termination occurs (e.g., due to differential mortality). Assuming the presence of differential mortality, per-patient phase III trial costs were calculated for the period of added life-years. These costs were then included in the ICER of a new drug, under the assumption that direct patient-related costs constitute 30–70% of the total trial costs. Capital costs were also incorporated from a societal perspective.ResultsBased on assumptions of $40,000 out-of-pocket expenses per patient enrolled in a phase III trial and a life expectancy gain of three months, incremental costs increased by $27,000 from a societal perspective. From a payer perspective, the estimate was $12,000.ConclusionsThe costs of phase III trials are a relevant component of the ICER, and excluding it is generally not appropriate for consistency reasons. Properly considering these trial costs is essential for a comprehensive evaluation of a new drug’s cost-effectiveness.

Multi-stage control design for oscillating water column-based ocean wave energy conversion system

Despite the enormous global potential of ocean wave energy, it has yet to achieve a level of maturity and economic competitiveness that would result in a substantial impact. Challenges include direct integration into weak or isolated microgrids, a high proportion of uncertain marine environments, nonlinear dynamics, oscillating water column (OWC) device limitations, slower response times, unplanned power outages, power fluctuations, high capital and operational costs in ocean wave energy conversion (OWEC) systems. To this end, a new independent multi-stage design approach is proposed for the performance enhancement of an OWC-based OWEC system. Firstly, an airflow and rotational speed optimal control stage enhances power capture in the Wells turbine-based OWC plant. Secondly, compared to conventional control, the proposed permanent magnet synchronous generator control incorporates an adaptive nonlinear back-stepping control algorithm based on Lyapunov stability theory. Thirdly, introducing reconfigurable control into the conventional six-leg power converter ensures the uninterrupted operation of an OWEC system. Lastly, a model-predictive control-based energy management system is integrated with a bidirectional DC-DC converter that delivers steady power from the grid-connected OWC OWEC system. Hence, MATLAB simulations ensure the overall performance enhancement and feasibility of the OWEC system application and verify that the proposed multi-stage solution is efficient, robust, and reliable.

A bibliometric analysis of ohmic heating on food processing in the last two decades

Novel food processing technologies have been devised to cater to the specific requirements of consumer products and tackle the challenges associated with conventional food processing technologies. Ohmic heating is a contemporary thermal-process technology with advantages for time efficiency, improved sensory and functional quality, and enhanced energy efficiency. This bibliometric investigation aimed to analyze the level of scholarly research on ohmic heating within the field of food research over the past twenty years (2003–2023). The findings indicate an upward annual growth rate of 11.09 % in the subject of food-related ohmic heating research. A total of 769 publications have been published, involving 1841 authors. Brazil is recognized as the nation with the most research contributions while Sastry, S.K., is the most productive author, and Teixeira, J.A. is the most collaborative author. Review studies examining the impact of ohmic processes on the nutritional composition of fruits, vegetables, and grains have garnered the highest number of citations. Innovative Food Science and Emerging Technologies and the Journal of Food Engineering have emerged as the most influential journals in this field. Keywords such as “ohmic heating,” “electroconductive heating,” and ”joule heating” are commonly used in academic publications on the application of ohmic heating in the food industry. Recent trends in this field focus on aspects such as extraction procedures, pasteurization, physicochemical components, and energy usage. Ohmic heating has a bright future. Rapidly growing research shows strong interest, especially recently, because of attractive advantages such as energy efficiency and sustainability. International collaborations will expand its applications in the food industry. Challenges include high capital costs, maintenance, and unclear regulations. Future research should focus on cost-effective materials, thermal stability, food safety, and broader applications. With a clear path, the food industry can adopt ohmic heating technology as affordable and ecofriendly technology more efficiently.

The Finance of Cybersecurity: Quantitative Modeling of Investment Decisions and Net Present Value

Despite the growing literature on cybersecurity investment, significant gaps remain unaddressed. First, the existing literature does not differentiate between cybersecurity expenditures, namely investment versus spending, despite the differences in their financial treatments. Second, the literature predominantly employs economic and risk-based models, in which the incorporation of financial parameters is limited. Third, the literature focuses on quantifying market (stock) loss of cyberattacks or conducting a cost-benefit analysis of cybersecurity investments but has yet to bridge these two areas. Thus, our objective is to introduce a new financial model, the Alpha Model, that addresses these gaps. We first provide distinctions between cybersecurity investment (capital expenditure) and spending (operational expenditure). Grounded in Relative Valuation Models and Optimal Capital Structure Theory, we quantify the upper-bound of optimal cybersecurity investment by utilizing book and market values of equity and debt. We also demonstrate that the Net Present Values (NPV) of cybersecurity investment is considerably lower than its book value by incorporating financial parameters of equity and debt financing, inflation-adjusted capital cost, and tax credits of depreciation and interest. To validate our model, we empirically test it by using data from the S&P500 index during 2018–2023. We offer practical implications to key stakeholders, including: (1) industry executives to financially quantify cybersecurity investments and ascertain their actual NPVs, individually and collaboratively with supply chain partners; (2) cybersecurity solution providers to promote business investments in cybersecurity; and (3) insurance providers to price premiums with higher NPVs than the corresponding investments. We also offer several avenues for further research.

A meta-analysis of the schematic design process of deep retrofit projects

Deep retrofits of the existing building stock will be necessary to meet global emissions reductions targets. One building archetype, low-rise MURBs have been neglected in terms of research and funding for deep retrofits. A meta-analysis was conducted that compares and contrasts the schematic design approach taken for six such buildings in British Columbia which are scheduled to undergo deep retrofits with the goal of reducing GHG emissions by 80%. The analysis showed that design teams had converged toward common solutions for each building while achieving the GHG reduction target. The recommended measures include electrification of space and domestic hot water heating, adding insulation through overcladding, air sealing, ventilators for each unit, and double pane windows. A life cycle cost analysis showed that the economic viability of deep retrofits were dependent on energy price forecasts, capital cost reductions through market forces and transformation, or incentives cover the non-monetizable co-benefits of deep retrofits such as improved resiliency to climate-change or reducing overheating and air quality risks. The meta-analysis can help to streamline the early-stage and schematic design process for such buildings, which is critical to increasing the retrofit rate. This process could be replicated for other building types and construction archetypes.

Underpinnings of reservoir and techno-economic analysis for Himalayan and Son-Narmada-Tapti geothermal sites of India

The high capital cost and risks associated with the extraction process of geothermal energy are key factors in the project economics. This paper presents a comprehensive technoeconomic study based on reservoir heat and flow simulations along with the levelized cost of energy (LCOE) for two geothermal sites (Himalayan and Son-Narmada-Tapti i.e. SONATA) in India.Dual porosity reservoir simulation models were constructed and were used to obtain the cumulative and the dynamic thermal energy potentials of these sites. The simulation studies suggest that both sites are equally potent for geothermal energy extraction. Comparatively, the proven cumulative energy potentials for the Himalayan and SONATA sites are found to be 4.92–5.10 and 3.62–3.7 TW h, respectively, for the 30 years of production at a rate of 92 kg/s. This difference can be attributed mainly to higher temperatures and deeper sites at the Himalayan Province. Sensitivity analyses were conducted to assess the impact of various parameters, including porosity, permeability, fracture spacing, and thermal conductivity. The results suggest that porosity and permeability are the key enablers of efficient energy production. The economic feasibility study suggests that the LCOE costs are high for these sites ($148/MWh for the Himalayan and $137/MWh for the SONATA). These two sites have CO2 mitigation potential in the range of 3.12 and 11.36 Megatons from a single doublet well configuration considering the CO2 emissions from conventional coal-fired thermal power plants. Overall, SONATA can be the better prospect considering the logistics and operational challenges along with reservoir heat potential.