Investments In Renewable Energy Sources Research Articles

COMMENTARY – THE PARADOX OF TWO WARS IN UKRAINE

The central thesis of this commentary focuses on the paradox of two wars occurring in parallel with Russian aggression in Ukraine. It is not just that—in addition to military action—there is a geopolitical tsunami and its consequences in the form of a possible food crisis, mass migration, or an already open energy war. The paradox relates to the fact that a potential Ukrainian victory could have adverse effects on the welfare of European countries as a consequence of the embargo on Russian hydrocarbons and the need to replace them (assuming there is no return to the ancien régime before the Russian aggression of February 24, 2022). The defeat of the Ukrainians, on the other hand, could lead to a so-called “new opening” and a gradual return to the import of Russian energy resources (which, although they will not obtain the pre-war volume, will provide energy stability for Europe in a period of diversifying contracts and developing investments in renewable energy sources).

Green finance development and environmental sustainability: A panel data analysis

This study considers five regions, i.e., South Asia, South-East Asia, China, Middle Eastern countries, and European countries, and took their data for 15 years. This study makes a significant contribution to the literature by examining the impact of green finance on environmental sustainability. Green finance development is represented by GDP, investment in renewable energy sources, investment in research and development (R&D) for eco-friendly projects, and public–private partnership investment in renewable energy projects. Green financing development in the chosen panel exhibits a distinct geographical cluster effect, with significant regional variances. The most important influencing elements are regional GDP, regional innovation level, and air quality, whereas the degree of financial development and industrial structure optimization are insignificant. The degree of financial development and industrial structure optimization are related to the amount of green finance development mostly via spillover effects. The degree of financial development has a positive spillover impact, but industrial structure optimization has a negative spillover effect. This study reveals that an increase in the production of energy from renewable sources, an increase in R&D, and the evolution of public–private partnership investment in renewable energy reduce CO2 emissions. It is evidenced that green finance in renewable energy sources is necessary to achieve environmental sustainability. There is a strong need to increase green finance in renewable sources to target the minimization of global CO2 emissions. There should be cross-border trade of renewable energy between regions/countries to mitigate CO2 emissions globally. Moreover, this study ranks the regions based on environmental sustainability, which may help researchers and decision-makers to entice foreign direct and private investment in these regions. The implications of the findings of the study suggest that environmental sustainability benefits greatly from green financing and investing in renewable energy sources through public–private partnerships, which represents one of the best ways to ensure environmental sustainability.

Scenario Analysis of a Coal Reduction Share in the Power Generation in Bosnia and Herzegovina until 2050

This paper is effectively a scenario analysis of the energy system of Bosnia and Herzegovina (BiH) from the perspective of the possible future reduction of greenhouse gas (GHG) emissions in the power generation sector, with the aim to become climate neutral by 2050, in compliance with the Green Agenda for the Western Balkan. According to the data from 2016, the share of power generation in the total GHG emissions in BiH was approximately 50%. By using the LEAP (Long-range Energy Alternatives Planning) energy model, two scenarios—the “gradual transition scenario” and the “climate neutral” scenario—have been analyzed for the period 2018–2050, and each scenario included decarbonization measures such as the extensive use of Renewable Energy Sources (RES). Unlike the climate neutral scenario, the gradual transition scenario includes the replacement of certain parts of the old, currently-in-operation Coal-fired Power Plants (CFPPs) with the new CFPP, which is more efficient. In the climate-neutral scenario, that part of the existing CFPPs is replaced by a mix of RESs. The results from the first scenario suggest that the share of CFPPs in electricity generation has gradually decreased from 69.3% to 16.3% in 2050, and CO2 emissions from the power generation sector in 2050 will be 2.2 million tons—roughly 83.5% less than in 2014. According to the second scenario, the emphasis is strongly on the growth and promotion of RESs, which have significantly taken over the roles of major producers of electricity, encouraging the low-carbon development of BiH. Analysis results show that, in 2050, there will be no CO2 emissions from power generation. It can be concluded that specifically designed energy models for the optimization of capacities and CO2 emissions through convergence towards RESs could be an optimistic and promising option for BiH to become climate neutral while meeting increasing energy demands. The results show the required RES capacities needed for achieving climate-neutral power generation by 2050, with the current rate level of power generation. Based on the results, RES investment needs can be estimated. Overall, the results of the scenarios can be used for the strategic planning of the power generation sector in BiH until 2050.

Investigating Green Financing Factors to Entice Private Sector Investment in Renewables via Digital Media: Energy Efficiency and Sustainable Development in the Post-COVID-19 Era

Funding for developing-country investments in renewable energy sources has been considered an essential factor for sustainable development after COVID-19. Solar energy investments can be very beneficial in reducing fossil fuel usage. A poll of investors, stakeholders, industry experts, and media personalities in Pakistan was used to gather data for this study, which examines individual investors’ intentions to invest in solar energy. This study’s primary objective is to enhance investment intention connected with investment in solar energy projects after COVID-19. Investing in solar power projects in the post-COVID-19 period is the focus of this study. To evaluate the study’s hypotheses, we used partial least squares structural equation modeling (PLS-SEM). We used the purposive sampling technique for data collection in this study. The findings show that attitudes, subjective norms, perceived investment attitudes, and evaluations of the regulatory framework influence one’s willingness to invest in renewable energy initiatives. The study identified a correlation between environmental concern, financial rewards, and investing behavior. Investors’ desire to make these kinds of investments was found to be unaffected by risk aversion. According to the data, regulatory framework evaluation is the most significant determinant. Previous research that looked at investment behavior or other forms of pro-environmental intention or behavior came to different conclusions. In addition, this study examined how the theory of planned behavior (TPB) influences investors’ intentions to invest in solar energy by evaluating the regulatory environment. The study results show that people’s attitudes and perceptions of energy efficiency indirectly impact their willingness to invest in solar power. Subjective norms do not influence investors’ plans to put money into solar energy. Policymakers will benefit from this study’s realistic advice on how to increase solar energy investments.

Impact of renewable energy sources on forest crimes the case of North Cyprus

Depending upon promoting and wide-spreading the use of renewable energy sources to preserve natural sources and forest land, several laws and regulations have been drawn by States in terms of sustainability. Investigations in forest land and natural sources for various reasons, statistics revealing forest crimes are being overviewed for sustainable preservation of forests and new arrangements in laws and regulations are being made. The statistics of forest crimes by the Office of Forestry, Preservation and Exploitation Branch and the Electricity Authority of TRNC were referred to while carrying out this study. The findings in these statistics revealed a substantial increase in forest crimes between the years 2012-2017 due to the lack of a State policy and failure in the common use of renewable resources. The findings in this research point to the fact that, based on a sustainable environment policy, more investment in renewable energy sources is essential and will positively affect the reductionof forest crime rates.

The impact of renewable energy sources on forest crimes the case of north Cyprus

Depending upon promoting and wide-spreading the use of renewable energy sources to preserve natural sources and forest land, several laws and regulations have been drawn by States in terms of sustainability. Investigations in forest land and natural sources for various reasons, statistics revealing forest crimes are being overviewed for sustainable preservation of forests and new arrangements in laws and regulations are being made. The statistics of forest crimes by the Office of Forestry, Preservation and Exploitation Branch and the Electricity Authority of TRNC were referred to while carrying out this study. The findings in these statistics revealed a substantial increase in forest crimes between the years 2012-2017 due to the lack of a State policy and failure in the common use of renewable resources. The findings in this research point to the fact that, based on a sustainable environment policy, more investment in renewable energy sources is essential and will positively affect the reductionof forest crime rates.

Selected Characteristics of Municipalities as Determinants of Enactment in Municipal Spatial Plans for Renewable Energy Sources—The Case of Poland

The article proposes methods by which an in-depth analysis of the factors determining the planning activity of municipalities for renewable energy sources can be carried out. The article aims to determine the relationship between the number of local spatial plans specifying designation for renewable energy sources and the municipality’s area, population and planning situation. All local spatial plans in Poland (a total of 104,720 plans) were analysed, distinguishing in each municipality the number of plans with designation for renewable energy sources and micro-installations (a total of 11,338 plans). Then, using quantitative methods, this data was matched with data on the municipalities’ population, area, and planning activity. At the same time, the article provides a literature review of the critical problems concerning the relationship between investments in renewable energy sources and local planning. The barriers encountered are transnational in nature. The discussion section indicates how the proposed research methods can address identified barriers. Further possible research directions are also identified. The study shows a correlation between the planning activity of municipalities in the field of renewable energy sources and both population and population density. The higher the population density (highly urbanised areas), the higher the planning activity as well, and with it, the associated planning activity for renewable energy sources. The results in this respect are spatially differentiated. The main contribution of the research is to identify the relationship between the spatial and demographic characteristics of the municipalities and the way spatial plans are approached. This research identifies how local spatial policies toward renewable energy sources can be assessed.

2030 YILI ISPARTA İLİ ELEKTRİK SİSTEMİNDE YENİLENEBİLİR ENERJİ SENARYOSU

In recent years, many challenges have emerged globally, such as climate change, energy supply security, and air pollution. The biggest reason for these problems is increased energy demand and the dependence on fossil fuels for energy. Increasing concerns about the adverse effects of fossil fuels have led to increased investments in renewable energy sources for electricity generation. While the transition to 100% renewable energy systems continues, there are also concerns about sustainability, cost and storage areas. In this study, energy planning for 2030 for the province of Isparta was carried out using the EnergyPLAN program. In the energy scenario of 2030, biomass was used to ensure sustainability by accepting the energy balance. A methodology for technical and economic modeling of 100% renewable energy systems in 2030 was presented. The results showed that the CO2 emission amount, 0.231 Mt in 2020, decreased to 0.096 Mt by 2030 year. It has been seen that the adverse effects of fossil fuels can be eliminated with the increase in the use of renewable energy systems. As a result of the study, it has been shown that the transition to 100% renewable energy systems for the year 2030 in Isparta province can be realized theoretically.

A simplified model to enhance SMEs’ investment in renewable energy sources in Ghana

Although the Renewable Energy Act 2011 (Act, 832) was enacted to facilitate development and investment in the Renewable Energy sources in Ghana as part of the efforts to achieve Sustainable Development Goal 7, the actual impacts of the policy are yet to be felt as manifested in the amendment Act 2020 (Act, 1045). There is a need to develop an alternative model to enhance investment in the renewable energy sector. Drawing from the Resources Based View (RBV) and Porter’s Five Forces this paper is aimed to develop a simplified model to explain Small and Medium Enterprises (SMEs)investment determinants in the renewable energy sources in Ghana. We argued that the simplified integrated model provides robust predictability and wider generalization. Our paper is anchored on the positivists’ epistemology and quantitative methodology. Our hypotheses have been tested using cross-sectional data from the Ghanaian SMEs. Variance Based Partial Least Squares (PLS) method has been used to analyze the survey data. Our results indicate that entrepreneurial competency, financial resource, marketing capability, and technological usage significantly relate to investment in renewable energy. Moreover, the results have shown that competitive rivalry, the threat of entry, and bargaining power of customers significantly relate to investment in renewable energy. These results substantiate the well-known argument that industry forces and resource competitive strategies are significant determinants of a firm’s competitiveness and behavioral intentions. Overall, these results have theoretical and practical implications to facilitate the capacity of SMEs and create enabling renewable energy local content policy to enhance SMEs ’ participation in the sector. 
 
 
 
 

Energy Transition in the global South – Editorial for the International Journal of Sustainable Energy Planning and Management Vol 35

This 35th volume of the International Journal of Sustainable Energy Planning and Management includes work investigating different biomass resource utilisation scenarios for Mexico as well as scenarios for the transition of Thailand. The latter finds significant photo voltaic requirements when factoring in the transition to green hydrogen for transportation. Transportation is also the focal point in a study of Indonesia, finding that cost and emission optimisation are pushing optimum in different directions. Continuing with Indonesia, the country is seeing a rapidly growing electricity demand, and Siregar investigates social, environmental, technical, and economic criteria for the development of the system towards a more sustainable electricity supply. The scenario analyses are largely based on larger societal transitions, but Appiah makes a more concerted effort to investigate the actual investments in renewable energy sources. Lastly, an article focuses on the industrial sector and how energy efficiency may be affected by policies.

Nexus Between Financial Development, Renewable Energy Investment, and Sustainable Development: Role of Technical Innovations and Industrial Structure

Significant challenges confronting China include reducing carbon emissions, dealing with the resulting problems, and meeting various requirements for long-term economic growth. As a result, the shift in industrial structure best reflects how human society utilizes resources and impacts the environment. To meet China's 2050 net-zero emissions target, we look at how technological innovations, financial development, renewable energy investment, population age, and the economic complexity index all play a role in environmental sustainability in China. Analyzing short- and long-term relationships using ARDL bounds testing, we used historical data spanning 1990–2018. According to the study's findings, the cointegration between CO2 emissions and their underlying factors was found. The deterioration of the environment directly results from financial development, increasing economic complexity, and population aging. Technical advancements, investments in renewable energy sources, and changes to the industrial structure all contribute to lower CO2 emissions. Granger causality results were also reliably obtained in this study. According to our findings in the fight against environmental problems, a key tool for meeting long-term sustainability goals is policy prescriptions that use technological innovations, renewable energy investment, and industrial structure.

The impact of renewable and non-renewable energy consumption on carbon emission intensity in China: Fresh evidence from novel dynamic ARDL simulations

Given the dire state of global warming, it is critical to investigate the elements that influence carbon emissions intensity and to precisely monitor progress in carbon emissions intensity growth in order to meet the aim of lowering CO2 emissions. This research explores the association among renewable energy and non-renewable energy consumption, the urban population, research and development expenditure, technological innovation, and carbon emissions intensity in China using annual time series data over the period 1990 to 2019. The Dynamic ARDL simulation technique was utilized to investigate the long-run and short-run correlations between renewable and non-renewable energy consumption and CEI. The results suggest that there is strong evidence of a long-run correlation between the variables. The findings indicate that in the long-run, renewable energy and non-renewable energy consumption, and research and development expenditure have a positive influence on CEI by 0.27%, 0.75%, and 0.21%, whereas the urban population has a negative influence by 2.31%, respectively. However, the urban population and technological innovation have positively affected the short-run CEI by 12.17% and 0.23%, respectively. Policies should focus on continuous investment in renewable energy sources, clean energy innovation, improving energy efficiency, forest restoration, and carbon neutrality initiatives to lessen the environmental extreme pressure associated with CO2 emissions.

Decision Support for Investments in Sustainable Energy Sources Under Uncertainties

Investment in sustainable energy sources is one of the climate mitigation strategies that can significantly reduce greenhouse gas emissions in the energy sector. However, in developing countries, investment is challenged by high capital expenditures and several uncertainties. This paper aims to provide decision support for investment in sustainable energy projects by evaluating the comparative attractiveness of shifting energy sources from fossil fuels to renewables and nuclear. Applying the real options approach (ROA), this paper calculates the value of the flexibility to postpone the investment decision and identifies the optimal timing (described here as the trigger price of coal) for shifting to sustainable energy sources. Then, various uncertainties are considered, such as coal and electricity prices, negative externality of using fossil fuels, and the risk of a nuclear accident, which are modelled using geometric Brownian motion, Poisson process, and Bernoulli probability. Applying the ROA model in the case of the Philippines, results find that investing in sustainable energy is a better option than continuing to use coal for electricity generation. However, contrary to conventional option valuation result that waiting is a better strategy, this study found that delaying or postponing the investment decisions may lead to possible opportunity losses. Among the available sustainable energy sources, geothermal is the most attractive with trigger prices of coal equal to USD 49.95/ton, followed by nuclear (USD 58.55/ton), wind (USD 69.48/ton), solar photovoltaic (USD 72.04/ton), and hydropower (USD 111.14/ton). Also, the occurrence of jump (extreme) prices of coal, raising the current feed-in-tariff, and considering negative externalities can decrease the trigger prices, which favor investments in sustainable energies. Moreover, the risk of a nuclear disaster favors investment in renewable energy sources over nuclear due to the huge damage costs once an accident occurs. Results provide bases for policy recommendations toward achieving a more secure and sustainable energy sector for developing countries that are highly dependent on imported fossil fuels.

Are globalization, urbanization, and energy consumption cause carbon emissions in SAARC region? New evidence from CS-ARDL approach.

This study examines the impact of energy consumption, urbanization, and globalization on environmental degradation proxied by carbon emissions (CO2) in the South Asian Association for Regional Cooperation (SAARC) countries, namely Sri Lanka, Pakistan, Maldives, Nepal, Bhutan, Bangladesh, and India using data over the period 1990-2018. The cross-sectional autoregressive distributed lag (CS-ARDL), pooled mean group (PMG), and Dumitrescu and Hurlin (D-H) Granger causality techniques are employed for the empirical analysis. First and second-generation panel unit root tests are used to determine the stationary level of all data series which reveals mixed order of integration. The empirical findings show that urbanization, gross domestic product (GDP) per capita income, energy consumption, industrial growth, globalization, and financial development cause CO2 emissions, while the other variables, namely arable land and innovation, put negative effects on CO2 emissions. Moreover, the D-H heterogeneous test results exhibit that bi-directional relationship exists between CO2 and arable land, urbanization, industrial growth, and financial development, while a unidirectional causality exists between CO2 emissions and GDP per head income. These findings suggest that planned urbanization, investment in renewable energy sources, and effective strategies regarding the economic and financial integration with the global economies are required for a clean and green environment.

Techno-Economic Analysis and Optimal Operation of a Hydrogen Refueling Station Providing Frequency Ancillary Services

Following the urgency of climate change issues, investments in renewable energy sources and electrification of the transportation sector have enormously increased to facilitate the transition to a more sustainable future. However, as renewable resources like wind parks are replacing conventional power plants, new balancing solutions are required to strengthen grid stability. As responsive loads with quick dynamics, electrolyzers operating in hydrogen refueling stations (HRSs) can offer flexible balancing services to the power grid. To gain this benefit, this article examines the techno-economic features of providing different frequency grid services by an HRS, considering the possibility of hydrogen injection into the industrial and natural gas pipelines. The ratings of the subcomponents and dispatch plans are optimized to enhance the performance of the plant. A probabilistic mixed-integer linear programming problem is solved over one year with a time resolution of 1 h and using real-world historical data based on the European electricity market. The simulation results indicate that the economic profits can be increased significantly as a result of participating in the ancillary service markets and meeting its operation specifications while the stable performance of the HRS is guaranteed.

Energy security – the case of Polish National Power System facing energy transition’s challenges

Energy security plays a key role in energy and economic policy. The importance of energy security has been highlighted by the energy and geopolitical crisis. The aim of this article is to present the crucial threats and challenges facing Polish National Power System, as well as to provide solutions to ensure Poland's energy security over the next 10 years. Article verify the hypothesis that security of electricity supply in Poland may be endangered in the coming years due to, among others, investment gap, coal power plants phase-out and undiversified energy mix. Therefore, it is a necessity to accelerate the investment processes in new generation capacity, especially in nuclear energy. Energy transition plans and energy policy need to be revised in light of the current energy and geopolitical crisis. Rapid growth of photovoltaics improves the energy security, mainly in the summer period, nevertheless, there is still insufficient development of investment in renewable energy sources, particularly in wind energy. In the Polish National Power System there are a lot of constraints such as investment gap, low capacity of transmission and distribution grids and high exposure to climate risk, thus it is necessary to take comprehensive investments to improve energy security in both the short and long term. Key words: Energy security, energy transition, energy crisis, decarbonisation, coal phase-out, energy policy.

Economic performance and natural resources: Evaluating the role of economic risk

Natural resources and economic performance have been under discussion for the last three decades. Still, the picture is not clear due to the contradictory arguments of scholars and researchers. To end this debate, the current study investigates the association between natural resources and the economic performance of Brazil, Russia, India, China, and South Africa (BRICS) over the 1990–2020 period. Also, the role of economic risk, renewable energy consumption, and technological innovation has been investigated. The empirical estimates validate the panel's slope heterogeneity and cross-sectional dependence, which leads to adopting the second-generation unit root test. Using panel quantile regression, the findings unveil that natural resources are a blessing for the selected economies. Also, renewable energy consumption and technological innovation are significant contributors to economic growth. Besides, the magnitude of natural resources and the renewable energy consumption is found to significantly increase from lower quantile (Q0.25) to medium (Q0.50) and higher quantiles (Q0.75). Conversely, the magnitude of technological innovation decreases while moving from lower to higher quantiles. The empirical findings are robust, as reported by dynamic ordinary least squares. Moreover, the causal association between economic performance and technological innovation is found bidirectional. However, a unidirectional causality has been observed from natural resources, renewable energy consumption, and economic risk to economic growth. This study recommends the efficient utilization of natural resources, investment in renewable energy sources, and research and development for technological advancement.

Does green finance investment and technological innovation improve renewable energy efficiency and sustainable development goals

Sustainable goals are achieved by utilizing private firms' investment in renewable energy sources. Globally, the demand for alternative sources of Renewable Energy (RE) and green finance (GF) has prompted an increase in research on these topics. This research applies a novel technique panel cointegration and causality model to evaluate the causes of green finance development in China between 1990 and 2020. This study adds information on the relationship between green finance and financial inclusion in the form of private firms' investments. The findings show that green finance and financial inclusion (FI) are beneficial to development globally and more granular. For every 1% growth in RE sources, there will be a 0.522% rise in trademark filings and a 0.1243% rise in private sector investment filings. The trademark and patent are promoted by 0.062% when financial inclusion is improved by 0.031%. Investment, commerce, and human progress have a calming effect on the connection discussed above. A variety of robustness tests supports our model results. This study's policy recommendations include decentralizing the energy industry to allow for more private sector participation; financial incentives for enterprises to use RE. It is clear from these findings that our study contributes significantly to the field of empirical research and also gives crucial policy recommendations.

What drives investment in renewable energy resources? Evaluating the role of natural resources volatility and economic performance for China

To cope with environmental degradation, countries around the globe are devising policies such as renewable energy, eco innovation and green financing, etc. Investment in renewable energy sources is crucial for achieving development. An increase in investment in renewable energy in the development goals are turn out to be the main concern of countries. This study examines the elements that influence the investment in renewable energy sources, as well as the importance of each aspect in case of China for the period of 1990–2020. We use Bayer-Hanck cointegration and Quantile Regression method to estimate the long run coefficients. To check the causal relationship among variables, this study employs Frequency Domain Causality (FDC) test. The results show that natural resource volatility is negatively related with investment in renewable energy. However, economic performance, technological innovation and energy efficiency have positive impact on investment in renewable energy. From results of quantile regression, it is inferred that as long as the effect of economic performance on investment in renewable energy loses trace of significance, the negative effect of natural resource volatility attains stronger statistical evidence. It implies that the positive impact of economic performance and negative impact of natural resource volatility on IRE changes its significance after a certain threshold level is achieved. There is evidence of uni-directional causality from GDP, TNR, TI and ENEF to IRE in all three runs. The findings of this study have important implications that can also be used by international organizations and other stakeholders in developing policies to improve the environment through renewable energies.

Comparative study between sliding mode control and the vector control of a brushless doubly fed reluctance generator based on wind energy conversion systems

Introduction. Nowadays, global investment in renewable energy sources has been growing intensely. In particular, we mention here that wind source of energy has grown recently. Purpose. Comparative study between sliding mode control and vector control of a brushless doubly fed reluctance generator based on wind energy conversion systems. Methods. This paper deals with conceptual analysis and comparative study of two control techniques of a promising low-cost brushless doubly-fed reluctance generator for variable-speed wind turbine considering maximum power point tracking. This machine's growing interest because of the partially rated power electronics and the high reliability of the brushless design while offering performance competitive to its famous spring counterpart, the doubly-fed induction generator. We are particularly interested in comparing two kinds of control methods. We indicate here the direct vector control based on Proportional-Integral controller and sliding mode controller. Results. Simulation results show the optimized performances of the vector control strategy based on a sliding mode controller. We observe high performances in terms of response time and reference tracking without overshoots through the response characteristics. The decoupling, the stability, and the convergence towards the equilibrium are assured.