Solar Energy Investments Research Articles

Solar Energy Resources and Photovoltaic Power Potential of an Underutilised Region: A Case of Alice, South Africa

Despite South Africa’s international recognition in solar energy investments, the country is struggling to meet its growing energy needs. In recent years, national blackouts and load shedding have been a recurring experience in the country. The high cost of electrification and the overstrained national grid have left several rural communities without access to electricity. This study aims to explore the solar energy resources and performance of a 3.8 kWp stand-alone residential photovoltaic (PV) power system in one of the underutilised regions in South Africa. The study mainly uses ground measured solar radiation data to evaluate the solar resources of Alice and compare them with those in other parts of the world with mega solar PV projects. The components of solar radiation considered are global horizontal irradiance (GHI), direct normal irradiance (DNI), and diffuse horizontal irradiance (DHI). The average total daily GHI, DNI, and DHI of Alice were 4.98, 5.74, and 1.44 kWh/m2. Clear sky conditions were found to occur on 233 days in the monitoring year, resulting in an average total daily GHI of 6.13 kWh/m2, DNI of 6.73 kWh/m2 and DHI of 0.17 kWh/m2. The findings indicated that Alice possesses abundant solar resources for PV and concentrated solar power generation, and is comparable to other regions internationally.

Role of public and private investments for green economic recovery in the post-COVID-19

This study evaluates the outlook of government expenditure through public and private financing for the green economic revitalization after COVID-19 in Canada. The various econometric estimations are used to measure the impact of government expenditure on green economic recovery. The implementation of public investment is explicitly associated with private funding. The results suggest that the government policy incentives and non-government financing influence fossil fuel energy sources proportions on non-government investment, which is additional than the feed-in tariffs. According to fixed effects results, the distribution of fossil fuel energy sources is an essential obstacle in solar energy investment. In contrast, the presence of varied types of renewable energy encourages non-government climate investment. Throughout the study period after the breakout of the pandemic phase, neither fossil fuel energy sources nor economic policy is marginally efficient. The different macroeconomic programs in green economic recovery might be ideal for attaining the needed impact. The critical policy conclusion of the results of this research is that an influential role of the public and private investment may be part of an optimal firm innovation plan for green economic recovery in the post-COVID-19 period.

Correct and remap solar radiation and photovoltaic power in China based on machine learning models

Accurate estimation of surface solar radiation (SSR) is crucial for photovoltaic (PV) systems design and solar PV power plants site selection. However, the SSR observations often suffer from inhomogeneity issues (e.g., aging equipment and instrument replacement) and low spatial–temporal coverage, which constrained the management and development of PV systems, particularly for countries with huge solar energy investments (e.g., China). To address them, we proposed seven different models (including four machine learning models, two empirical models and a multiple linear regression model) for accurate prediction of daily SSR using conventional meteorological data. Our results showed that the support vector machine (SVM) outperformed other models in estimating daily SSR. Based on SSR data corrected by the SVM model, the sharp downtrend in SSR (-9.64 W m−2 decade-1) due to the sensitivity drift of instrument aging before 1990 was moderated (-2.36 W m−2 decade-1) in China; and the abnormal jump caused by instrument replacement in SSR observations during 1990–1993 was removed. Furthermore, by combining the advantages of large network of conventional meteorological data and SVM model, we extended the limited station-based SSR data (∼100 meteorological stations) to include longer period and larger spatial coverage (2185 meteorological stations, 1971–2016) in China. By coupling the grid-based method and PV power model, we created reliable SSR and PV power maps with higher temporal and spatial resolution over China. Spatially, the main distribution of high SSR and PV power were in the northwestern China, Tibetan Plateau and some coastal areas in the southern China. Temporally, the PV power experienced a significant drop during 1971–2016 (-1.94 kWh m−2 decade-1) due to the significant decline in SSR (-0.91 W m−2 decade-1). Above all, the new maps of SSR and PV power prepared here should support PV investments within the Chinese territory.

Inventive problem-solving map of innovative carbon emission strategies for solar energy-based transportation investment projects

The transportation sector is also of great importance in terms of carbon emission problem. Significant amount of carbon dioxide is emitted into the atmosphere due to the use of fossil fuels in transport vehicles. Electric vehicles play a key role to overcome this problem. However, high cost is an important handicap in choosing electric vehicles, especially in road transport. Therefore, electric vehicles charged with solar energy can also contribute significantly to the solution of this problem. In this study, it is aimed to generate inventive problem-solving map of innovative carbon emission reduction strategies for transportation investment projects. Hence, this study illustrates causal relationships of innovative strategies for solar energy projects. Therefore, the influencing and influenced items can be defined. An extension of group decision-making (GDM) and spherical fuzzy numbers is proposed regarding solar energy projects. These principles are weighted by spherical fuzzy methodology. The main contribution of this study is to present significant strategies to increase the effectiveness of the solar energy investment projects with a novel hybrid decision-making methodology. Therefore, the analysis results have a positive contribution to the solution of carbon emission problem in the transportation industry. The findings explain that dynamicity is the most critical TRIZ-based factor that improves the effectiveness of solar energy projects because it has the greatest weight (0.267). Composite materials have an important impact in this scenario with the weight of 0.255. It is recommended that solar panels should be designed so that they can receive sunlight at different times vertically. Flexible structured solar panels should be considered that can change position according to the angle of the sun during the day. Thus, more electrical energy can be obtained.

Snapshot of photovoltaics – February 2022

For the past 10 years photovoltaic electricity generation has been the fastest-growing power generation source worldwide. It took almost six decades to achieve 100 GW of solar energy capacity in 2012, but the 1 TW level is likely to be broken during 2022. Overall investments in solar energy has increased by 19% to USD 205 billion (EUR 171 billion). In 2021 more than 180 GW of new solar photovoltaic electricity generation capacity was installed. After the decline in 2020, the Chinese solar market recovered to 53 GW in 2021. This development and the continuous growth in Europe and the USA as well as in new emerging markets were the main drivers. The number of countries installing more than 1 GW annually has increased to 18 in 2021. The continuation of price reductions in the battery storage sector has again resulted in a growing market for local battery storage systems in solar farms as well as for decentralised photovoltaic electricity generation systems. It is also increasingly clear that apart from classic electricity use, renewable electricity for electric vehicles and for generation of green hydrogen will become more and more important in the future.

“Solar” cases: could Italy’s withdrawal from the Energy Charter Treaty lead to its collapse?

The article notes that investments in solar energy have already led to a number of arbitration cases related to the subsequent change in investment incentives. The so-called Solar Cases, initiated by investors under the Energy Charter Treaty (ECT) against Kingdom Spain, Italy and the Czech Republic, focused on the question of whether states could adjust incentives (subsidies and feed-in tariffs) to the detriment of investors after these investors relied on these subsidies to make their investments. Following the results of these arbitration proceedings, the European Union in 2019 decided to revise the text of the ECT. Eight rounds of negotiations were held during 2020 and 2021, the last of which took place in November 2021. Many believe that the reform of the existing treaty has taken too long. In February 2021, France sent a letter to the European Commission on the need for a coordinated EU exit from the ECT. Against this background, Italy’s withdrawal from the ECT on January 1, 2016, as well as Russia’s withdrawal of the signature on the treaty in 2018, are actions that determine the inevitable collapse of the ECT in the very near future. This article is devoted to the study of the causes and legal consequences of these events. Since Russia’s withdrawal from the ECT has already been the subject of study by many Russian and foreign scholars, the author focused their attention on the study of Italian arbitration disputes based on the ECT provisions, as well as on the study of foreign doctrine on this issue.

A review of PV solar energy system operations and applications in Dhofar Oman

<abstract> <p>Energy is seen as one of the most determinant factors for a nation's economic development. The Sun is an incredible source of inexhaustible energy. The efficiency of the conversion and application of Photovoltaic (PV) systems is related to the PV module's electricity generation and the location's solar potentials. Thus, the solar parameters of a region are important for feasibility studies on the application of solar energy. Although solar energy is available everywhere in the world, countries closest to the equator receive the greatest solar radiation and have the highest potential for solar energy production and application. Dhofar in Salalah-Oman is one of the cities in Oman with high temperatures all year round. The city has been reported to exhibit a maximum solar flux of about 1360 w/m<sup>2</sup> and a maximum accumulative solar flux of about 12,586,630 W/m<sup>2</sup> in March. These interesting solar potentials motivated the call for investment in solar energy in the region as an alternative to other non-renewable energy sources such as fossil fuel-powered generators. As a consequence, several authors have reported on the application of different solar energy in the different cities in Oman, especially in remote areas and various results reported. Therefore, the present review highlighted the achievements reported on the availability of solar energy sources in different cities in Oman and the potential of solar energy as an alternative energy source in Dhofar. The paper has also reviewed different PV techniques and operating conditions with emphasis on the advanced control strategies used to enhance the efficiency and performance of the PV energy system. Applications of standalone and hybrid energy systems for in-house or remote power generation and consumption in Dhofar were discussed. It also focused on the relevance of global radiation data for the optimal application of PV systems in Dhofar. The future potential for the full application of solar systems in the region was mentioned and future work was recommended.</p> </abstract>

Investigation of The Effect of Pv Panel Efficiency Parameter on Investment Payback Period

The importance of solar energy is increasing due to climate change and similar reasons. However, the biggest barriers to solar energy investments are the high initial investment cost and the long investment payback period. In this study, the effects of technological developments in the investment payback period are examined. It has been investigated how the increase in PV panel efficiency affects the investment payback period of solar energy systems. The annual average profit, the daily gain to be obtained according to the different PV panel efficiency values are calculated, and the effect of different PV panel efficiency values on the investment payback period of 1 MW PV power plant has been investigated. Levelized cost analysis has been used in this study. In the future, it has been found that the payback period of 1 MW PV power plants may be less than 3 years if high-efficiency PV panels take their place in the market.

Exploring the role of solar energy and foreign direct investment for clean environment: Evidence from top 10 solar energy consuming countries

Solar energy has become well-documented and famous globally despite high upfront costs and a lack of financing mechanisms. Solar power can keep sustainable economic growth by fulfilling the increasing worldwide demand for energy while addressing climate change and reducing emissions. On the other side, Foreign Direct Investment (FDI) is a crucial source of promoting energy-efficient technologies across the world. This study explores the role of solar energy consumption and the impact of FDI for a clean environment in the top ten solar energy-consuming countries from 1990 to 2018. The significance of this study is that it uses a cubic form of income and FDI to account for technique, scale and cumulative effects on CO2 emissions. The results depict N-shaped Environmental Kuznets Curve between income and CO2 emissions. The foreign direct investment inflows play a positive role in boosting the environment quality. Due to the strong structure of institutions, FDI inflows can be a source of solar technology promotion. However, other aspects like the size of GDP linked to the environment can't be ignored. Thus for a clean environment, countries still need to implement more energy-efficient policies for "sustainable development."

Solar energy, governance and CO2 emissions

This study aims to analyze the effect of solar energy and governance on CO2 emissions. Data from 35 countries in different income groups for the period 2005–2018 were used. The estimates made considering the cross-section dependence and slope homogeneity show that solar energy reduces the CO2 level. In case of solar energy increase according to the long-term coefficients, the CO2 level of the countries is negatively affected. Governance is another variable that harms CO2. The multiplication of solar energy and governance affects CO2 negatively. Therefore, it is recommended that countries wishing to reduce CO2 levels should pay attention to solar energy, which has a vast energy generation potential as an energy source. The governance level of the countries is also essential for solar energy investments and long-term planning. As a result, it is suggested that countries deal with solar energy and governance together to reduce CO2 emissions.

R&D investment decision on smart cities: Energy sustainability and opportunity

Public administrations frequently tend to make communities as much sustainable as possible pursuing smart city goals. Solar energy investments represent a valid opportunity to support smart cities and consequently the sustainable economic development. The valuation of these projects is not a simple task considering their sequential nature and riskiness. This article proposes a compound Real Options Approach (ROA) as a tool for potential investors to make a conscious R&D renewable investment decision on smart cities. In this sense, we fit the compound ROA with the framework of a typical smart city project in solar energy field. We also provide a case study to make a comparison between classical Expected Net Present Value (ENPV) approach and compound ROA. The results show that ENPV underestimates the project value, whereas compound ROA allows to obtain a more attractive valuation of the project by embedding in the analysis the managerial flexibility value.

A blend of renewable and nonrenewable energy consumption in G-7 countries: The role of disaggregate energy in human development

This study examines the effects of renewable and nonrenewable energy consumption in G-7 countries to discuss their role on human development. The study uses data from 1990 to 2015 and latest econometric tests to meet the study objectives. Unit root analysis conducted through Cross-Sectional Im, Pesaran, and Shin and Cross-Sectional-Augmented Dickey–Fuller, panel cointegration estimated through Lagrange multipliers bootstrap method, long-short run relationships estimated through Continuously-Updated Bias-Corrected and Continuously-Updated Fully-Modified estimators, and causality is assessed through Dumitrescu-Hurlin panel technique. Existing literature has addressed the aggregate impact of energy consumption on human development, whereas disaggregated impact has not been examined clearly. The results explain that energy consumption, urbanization, globalization, and economic growth encourage human development in G-7 countries. Bidirectional causality is also found between renewable and nonrenewable energy consumption with human development. Policymakers are suggested to improve basic infrastructure, reduce the cost of energy by lowering the price of clean energy, impose stringent environmental measures on the consumption of fossil fuels considering solar and wind energy investment tax-free. Moreover, national and local governments of G-7 countries need to become more strategic in responding to the full range of challenges and opportunities posed by rapid urbanization. It is suggested to formulate a national urbanization strategy as a first step to help to identify urban development priorities, shape plans, and better coordinate actions by all the actors involved, including the private sector. Study limitations and future research direction discussed.

A novel approach to investigate the effects of global warming and exchange rate on the solar power plants

The present study proposes novel approaches to concepts such as risk assessment and investment management in investments in solar power plants. In this context, 11 cities in Turkey have been taken into consideration for solar energy investment. Global warming is also one of the current issues on the World's agenda. The monthly impact of global warming has been investigated for 5 years using a deep learning model, and the effects of global warming on cost have been determined within the scope of this study. Concerning the outputs of the designed deep learning-based temperature-forecasting model, it was observed that the gain values might decrease between 5.98% and 3.74% due to the possible global warming effects in 2025–2030. Also, changes in the US$/TL ratio put solar energy investors in a difficult position. The Turkish government issued a Presidential Decree numbered 3453 on January 30, 2021, to offer a solution to this situation. The profit-loss situation of solar energy investments was investigated with the issued support policy and fixed price-purchasing policy. It has been observed that the fixed price policy is not sustainable and the new support system partially protects the solar energy investor.

DLT-based equity crowdfunding on the techno-economic feasibility of solar energy investments

Advancements in material science and production technologies of solar photovoltaics (PV) system components, have obvious impacts in terms of Levelized Cost of Electricity (LCOE) reductions over time. Beside such technologies in physical sciences, digitalization technologies have increasingly positive impacts on the cost efficient operation and investment planning of the solar energy investments and keep the current cost decline trajectory for the PV industry.One option to achieve this may be through digital financial innovations such as Distributed Ledger Technology (DLT) based crowdfunding for project finance. This option would enable multiple small investors to offer loans with lower interest rates and longer debt tenors than traditional financiers, such as banks, while increasing the acceptable debt fraction for a project due to the higher risk tolerance of individual investors coupled with the risk reduction that this innovation could allow. This new aspect of the digital partial ownership of the energy projects is demonstrated using a functional DLT-based crowdfunding mechanism. Furthermore, impacts of the proposed approach is demonstrated by calculating the LCOE values for the European countries by comparing with the traditional investment options. According to the findings of this study digitalization technologies especially DLT has positive impact in terms of reducing the financial costs and also LCOE values of solar energy projects. Additionally, these estimated cost values are used for analyzing the grid parity of PV systems in each assessed country. This article presents a digitization based methodology that has a high potential to accelerate the Digital Green Shift in future.

Harnessing Renewable Energy at Kalasalingam Academy of Research and Education – A Role Model Case

Global energy demand and environmental concerns are the driving force for the use of alternative sustainable and ecofriendly renewable energy sources. Solar energy is the inexhaustible and CO2 emission free energy source worldwide. It produces significant environmental benefits in comparison to the conventional energy sources, thus contributing to the sustainable development of human activities. It produces clean and renewable power from the sun and benefits the environment without causing air and water pollution. Alternatives to fossil fuels reduce carbon foot print across the globe reducing emission of greenhouse gases and become ecofriendly. Solar power has attracted the largest share of new investments in solar energy across the world. This research article shows light on the solar energy sources developed by Kalasalingam Academy of Research and Education (KARE) for the effective utilization of solar energy in the campus and its impact on the reduction in carbon foot print and also the impact of green vegetation as a source of carbon sink for an ecofriendly campus.

Assessing the renewable energy policy paradox: A scenario analysis for the Italian electricity market

The renewable energy policy paradox states that the combination of liberalized markets with low marginal cost and intermittent technologies tends to reduce electricity prices and, hence, the profitability of new investments in wind and solar energy, thus rendering price-incentive policies less effective or more costly. Most simulation models are not suited to assess the feasibility of middle and long-term goals under the price policies already in place. To fill this gap, this study applies a novel hybrid top-down-bottom-up dynamic macrosimulation model to the Italian economy (2015–2040). To incorporate uncertainty about the future costs of generation and storage technologies, fossil fuel prices, demand elasticities, macroeconomic performance and price incentives, we rely on exploratory model analysis to build scenarios from three clusters out of the 1000 different simulations. Our results suggest a decreasing trend in electricity prices in contrast to the latest official projections. Accordingly, the expansion of renewable energy slows down and none of the 1000 simulations reach the 2030 target of 55% renewable energy in electricity supply. Despite the ineffectiveness of the price subsidy policy in the first ten years (2021–2030), it is still crucial to reach very high penetration of variable renewable energy sources by 2040.

Mapping of Solar Energy Potential in the West Bank, Palestine Using Geographic Information Systems

Palestine currently suffers a serious shortage in crucial energy supplies. Nearly 90% of electricity needs come directly from Israel, or through Palestinian electricity distribution companies. This situation puts the Palestinian population under continuous pressure, mainly due to the current unstable political situation in the region. The Palestinians have started to explore local alternatives to reduce the impact of Israeli control of this vital sector. Palestine receives about 3,000 hours of sunshine every year, making up an average of 8.2 hours daily, which makes it suitable for investing in solar energy. In this research land-use/land-cover data and a Digital Elevation Model (DEM) are used in a GIS environment while employing land-use/land-cover criteria and topography to produce a site suitability map for harnessing solar energy. The results of the study show that the eastern and southern parts of the West Bank are the most suitable areas for this purpose. The study also finds that the suitable areas for solar energy investment remain under full control of the Israeli Authorities. These areas are categorized as “Area C” according to the Oslo Interim Agreement signed by Israel and the Palestinian Liberation Organization (PLO). This means that the Palestinians need to obtain permission from Israel to work in these areas. Putting an end to the Palestinian- Israeli conflict according to the United Nations resolutions may remove the imposed restrictions to invest efficiently in the solar energy sector.

Snapshot of photovoltaics − March 2021

For the past 10 years, photovoltaic electricity generation has been the fastest-growing power generation source worldwide. It took almost six decades to achieve 100 GW of solar energy capacity in 2012, but the 1 TW barrier is likely to be broken during 2022. Despite the ongoing COVID-19 pandemic, the overall investments in solar energy have increased by 12% to USD 148.6 billion (EUR 125 billion). In 2020, more than 135 GW of new solar photovoltaic electricity generation capacity was installed. The recovery of China, the continuous growths in Europe and the USA as well as new emerging markets were the main drivers. The number of countries installing more than 1 GW annually has increased to 18 in 2020. The continuation of price reductions in the battery storage sector has again resulted in a growing market for local battery storage systems in solar farms as well as decentralised photovoltaic electricity generation systems. Apart from classic electricity use, renewable electricity for the generation of green hydrogen will become more and more important in the future.

Stimulation of investment processes in renewable energy sector

The purpose of the article is to assess the pace of capital contribution and investment in solar energy in order to increase the energy security of national economies. The study analyzes the development of the global solar industry for years 2009-2019 in the context of investment support. The main stages of development of world solar energy are marked and the priority of countries and regions is determined. Factors of attractiveness of solar energy for private investment are noted, namely the investment climate is formed at the expense of legislative maintenance of this sphere, and in the economic plan at the expense of introduction of the «green» tariff. Two main investment processes in the development of solar energy are noted. First, these are large private companies that implement large-scale projects from solar stations. Secondly, this small private investment to provide electric for households that identified a small city urbanization and climatic conditions. It was found that the solar energy market depends more on capital intensity than on resource intensity. The result of economic calculation is indicated, which allowed to determine the term of reduction of the cost price of 1 kW of photovoltaic power station electricity to the level of NPP production cost for ten years.

Exploring the Role of Solar Energy and Foreign Direct Investment for Clean Environment: Evidence from Top 10 Solar Energy Consuming Countries

Exploring the Role of Solar Energy and Foreign Direct Investment for Clean Environment: Evidence from Top 10 Solar Energy Consuming Countries