Renewable Energy Market Research Articles

Sustainability burden or boost? examining the effect of public debt on renewable energy consumption in Sub-Saharan Africa

ABSTRACT Given that the development of renewable energy is regarded as a sustainable alternative to the realization of environmental quality, it is not surprising that the discussion of the sustainability of the world’s energy sources continues to expand. While renewable energy has a negligible impact on environmental degradation, developing regions like sub-Saharan Africa (SSA) is restricted by the capital-intensive investment requirements of the burgeoning renewable energy market. To explore the significance of available funding sources on renewable energy development in the region, this study investigates the influence of public debt on renewable energy consumption (REC) in a panel of 29 SSA countries, in full and sub-regional categorizations. A combination of the instrumental variable generalized method of moment (IV-GMM) approach and the two-stage least squares estimator was applied to achieve the goal of the study. Overall, our findings indicate that public debt, carbon emission, financial development, and economic growth exert a negative and significant linkage with renewable energy, while urbanization has a positive and significant influence. Aware of the study findings, appropriate policy prescriptions are proposed to improve the debt-financed funding for the development of the renewable energy sector in SSA.

The effect of pressure on the concentration of methane and carbon dioxide absorption in biogas

Biogas is playing a vital role in the emerging market for renewable energy. Biogas is an alternative energy that can be used as a substitute for fossil energy. The main composition of biogas is methane gas (CH4) and carbon dioxide gas (CO2) with a small amount of hydrogen sulfide (H2S). Therefore, it is necessary to do treatment to enrich gas methane and reduce CO2 and H2S content in optimizing the use of biogas. Absorption is a CO2 capture technology often used in the chemical industry. A chemical absorption technique using a solvent solution is one of the most widely used techniques to capture CO2. This research uses MDEA (Nmethyldiethanolamine) solvent as an alkanolamine solution dissolved in water. The unit operation usually used to carry out the absorption process is an absorber, and the type of absorber used is a spray column absorber. Simulating variations in pressure on the absorber was conducted in this research. The result of this research is that the increase in pressure will increase the composition percent of CH4 in sweet gas and increase the amount of CO2 absorption in biogas. The best result of absorber pressure is obtained at a pressure of 48 bar. The purity of CH4 and %removal of CO2 in biogas can be solved simply by using the evaluation parameters of the various absorber pressures presented, which we expect to contribute to the biogas industry in the future.

How do carbon, stock, and renewable energy markets interact: Evidence from Europe

In a low-carbon context, the connectedness among carbon, stock, and renewable energy markets has been strengthening. This study examines the effect of Brexit, the launch of the European Green Deal and the COVID-19 pandemic on the connectedness among carbon, stock, and renewable energy markets by employing Time Varying Parameter -Vector Auto Regression (TVP-VAR). First, equal interval impulse response analysis shows that in the short term, the renewable energy market suffers from a positive shock from the carbon market and this shock gradually decreases from the initial 1.6×10−3. In the long run, the connectivity between the carbon market and the stock market, and between the carbon market and the renewable energy market is almost 0. Second, we can conclude that the positive connectivity between stock market to carbon market and renewable energy market to carbon market is enhanced by COVID-19 in the short term, with values of 7.5×10−3 and 3.6×10−3 respectively. Finally, renewable energy market received a greater negative impact from the carbon market during COVID-19 than during the release of the European Green Deal, while Brexit allowed positive carbon price spillover to renewable energy price.

A dynamic institutional analysis of China’s engagement with Africa’s renewable energy market

ABSTRACTRenewable energy activities have increasingly become the central component of China’s proposed green Belt and Road Initiative. Yet, scaling up these activities requires significant institutional changes of the current Chinese state and financial-industrial complex. Informed by a conceptual framework that builds on multi-level institutional analysis, we assess the institutional challenges constraining the scalability of Chinese renewable energy projects in South Africa and Ethiopia. Our study reveals that the institutional fragmentation and vacuum in China have led to the lack of a clear engagement strategy with African markets. In addition, the development of wind and solar energy projects in Africa is often taking place amid the ongoing and fast-changing energy sector governance, which is not yet appreciated by the key Chinese actors. We argue that promoting Chinese-backed renewable energy projects in Africa requires new institutional arrangements that can adapt to competitive and divergent local market conditions and regulatory changes.

Accounting of installation and use of solar power plants

Through the using of solar power plants, a business entity reduces operating costs by using solar electricity for its own needs and generates income by selling this electricity on the market. The construction of solar power plants in Ukraine is an important factor in the development of the national energy market and a tool for integration into the European renewable energy market. The article examines the role and importance of using solar electricity as one of the types of alternative sources of electricity. The authors investigate the peculiarities of accounting for the initial cost of solar power plants depending on the method of its receipt by an enterprise. In particular, the author presents the correspondence of accounting accounts, which are drawn up upon receipt of a solar power plant when it is purchased for cash, in case of its construction by the enterprise using the economic and contractor methods. The procedure for recognition and valuation of solar power plants as an object of fixed assets is substantiated. It is noted that the costs of forming the initial cost of a solar power plant should be accounted for by using the relevant subaccounts of account 15 “Capital Investments”. The article also presents the results of the impact of establishing the useful life and depreciation method of a solar power plant on the financial results before corporate income tax.

Giant reed from wetlands as a potential resource for biomethane production

This study aimed to evaluate the potential and the use of the natural and treatment wetland biomass for local energy production. Specifically, it was addressed by determining the giant reed (Arundo donax L.) Biochemical Methane Potential at different harvest times, since plant characteristics vary noticeably along the growing season. In the last decades, this perennial rhizomatous grass has achieved great success in the renewable energy market to produce biogas through the anaerobic digestion process, because is a non-food crop with high biomass yield (about 35 Mg dry matter per hectare) and low input required for its growth. Several studies showed that the harvest time, in relation to the stage of the plant development, significantly affect the Biochemical Methane Potential. Moreover, it is well known that giant reed presents feature comparable in terms of biomass yield and physicochemical composition both in natural and treatment wetland systems. Anaerobic digestion laboratory tests were carried out to assess biomethane production from aerial biomass samples collected from July to November 2021. The average biogas production for the five different harvest times was of 312.77 Nm3/tVS (±62.87), and the mean methane content was equal to 187.06 Nm3 CH4/tVS (±38.32). The gas quality at the end of the Biochemical Methane Potential test displayed average contents of methane of 58.88% (±5.06) and CO2 of 18.54% (±7.91) and mean sulfides content of 112.10 ppm (±103.61). The results highlighted that giant reed has a high energy returned on energy invested (EROEI) value. The research activity allowed to identify the harvest time associated with the highest Biochemical Methane Potential and biomethane production per hectare. Finally, the experimental results achieved in riverbank conditions could be applied to treatment wetland systems increasing their environmental sustainability and reducing their maintenance costs.

УСТОЙЧИВОЕ РАЗВИТИЕ ЭНЕРГЕТИЧЕСКИХ ПРЕДПРИЯТИЙ НА ОСНОВЕ УЧЁТА ПОТЕНЦИАЛА ВИЭ В СОВРЕМЕННЫХ УСЛОВИЯХ

The article is devoted to the features of the development of energy enterprises in modern conditions. Among these features, a special place is occupied by the use of the potential of renewable energy sources as a competitive advantage. The authors analyze the transformations currently taking place in the energy sector. The theoretical significance of the study is to substantiate the need for a balance of investments in traditional and renewable capacities, which must be carried out in a coordinated manner to achieve energy security goals. Of practical interest is the analysis of the role of renewable energy producers and electric grid companies in organizational and economic relations in the renewable energy market and the wholesale electricity market.

Using an intelligent method for microgrid generation and operation planning while considering load uncertainty

The integration of distributed generation (DG), energy storage systems (ESS), and controllable loads near the place of consumption has led to the creation of microgrids. However, the uncertain nature of renewable energy sources (wind and photovoltaic), market prices, and loads have caused issues with guaranteeing power quality and balancing generation and consumption. To solve these issues, microgrids should be managed with an energy management system (EMS), which facilitates the minimization of operating (performance) costs, the emission of pollutants, and peak loads while meeting technical constraints. To this effect, this research attempts to adjust parameters by defining indicators related to the best possible conditions of the microgrid. Generation planning, the storage of generated power, and exchange with the main grid are carried out by defining a dual-purpose objective function, which includes reducing the operating cost of power generation, as well as the pollution caused by it in the microgrid, by means of the SALP optimization algorithm. Moreover, in order to make the process more realistic and practical for microgrid planning, some parameters are considered as indefinite values, as they do not have exact values in their natural state. The results show the effect of using the introduced intelligent optimization method on reducing the objective function value (cost and pollution).

Analysis of the market for renewable energy sources in the Asia-Pacific region

One of the most promising areas for future infrastructure investment is in the modification of the world's energy mix. Rising renewable energy penetration in the world's electrical supply and energy markets is a topic of intense attention for those concerned with environmental sustainability. Given that the Asia-Pacific region is home to more than half of the world's population and accounts for more than 60 percent of global energy consumption, as well as having strong economic-growth prospects, the world's fastest rising regional energy demand, and vast potential owing to the low market saturation of renewables, accelerating the deployment of renewable energy is of critical importance in the Asia-Pacific region. More than half of the world's emissions come from Asia and the Pacific, making this region a major contributor to climate change. There are many obvious benefits, but the market is still not very well explored. This is because numerous significant problems still exist in the region, including a lack of funding, concerns about system reliability and the changing role of utilities, emissions of greenhouse gases, and the effects of climate change. New possibilities, especially for solar energy, have emerged as a result of the declining cost of renewable energy and associated technological breakthroughs. There are many obstacles to overcome on the way to this goal because of the dynamic character of economies in the Asia-Pacific region. The renewables market in the Asia-Pacific region might use some improvements, such as a more robust regulatory framework and a more alluring return on investment. This study primarily reflected the current status about renewable energy and highlighted the challenges and opportunities facing the renewable market in the Asia-Pacific region in an effort to solve these concerns. The study also offered policy implications to help deal with or lessen the effects of these obstacles in the quest to expand the renewable energy market. This study will help countries, businesses, and investors in the Asia-Pacific region to adopt policies for investment in renewable energy sector as they work towards zero-carbon targets.

Herding in the Chinese renewable energy market: Evidence from a bootstrapping time-varying coefficient autoregressive model

In this paper, we examine the herd behaviour of the Chinese renewable energy sector using both static and time-varying coefficient models. Examining daily data from January 05, 2015 to April 29, 2022, we find strong evidence of herding behaviour changing over time in this market. We find that herding asymmetry is more pronounced during up markets and among smaller firms. When within-industry herding weakens, large price movements in the overall stock market provide additional trading signals for herding formation in this sector.

Volatility spillover and hedging strategies between the European carbon emissions and energy markets

Much attention has been paid to the complex risk transmission between carbon and energy markets along with the increasing global financial market integration. This research thus uses the DCC-MVGARCH model and spillover index method to investigate volatility linkages between the European carbon emissions and energy markets. The results make it clear that there are indeed volatility correlations and bidirectional spillover effects for the above two markets. In particular, the volatility correlations and the spillover index dramatically change when global economic turbulence and political events occur. Apart from the strongest volatility correlation between coal and carbon markets, the volatility spillover effect from the renewable energy market to the carbon market is gradually increasing. The role of the carbon market is also changing: the net information recipient becomes a transmitter from phase II to phase IV. Therefore, our findings provide investors with flexible portfolio strategies by making full use of dynamic volatility linkages between the two markets. This research also gives a decision-making basis for market regulators to improve the carbon market's risk management mechanism. It means that regulators should pay close attention to potential market risk sources. Further policy recommendations are put forward in the conclusion section.

Prioritizing factors for the sustainable growth of Vietnam's solar photovoltaic power market

This study investigates the factors that affect the investment environment of the renewable energy industry in emerging countries, and quantifies them to derive relative priorities, drawing on the Vietnamese solar market as a critical case. Vietnam's solar photovoltaic (PV) market was exposed to various adverse policy situations during 2017–2019. The priorities of the determinant factors were derived using analytic hierarchy process analysis, based on a survey of 20 energy experts. The priority of the factors in Level 1 include, in descending order, policies, legal framework, profitability, ease of access to finance, infrastructure, and external factors. The top five of the 29 important factors in Level 2 are level of policy implementation, policy consistency (predictability), feed-in-tariff price, incentives and subsidies for foreign (direct) investment in solar PV, fruitage remittance, and transmission/distribution lines. We demonstrate that the active establishment and implementation of policies is crucial for the development of the renewable energy market. The improvement of the grid infrastructure and measures for system integration should be supported in accordance with solar power deployment. Therefore, actively engaging the interests of various stakeholders comprehensively and in a balanced manner during policymaking can be decisive in supporting stable market growth, facilitated by partnerships between local developers and international investors.

Review of Selected Aspects of Wind Energy Market Development in Poland and Lithuania in the Face of Current Challenges

The disruption of fossil fuel supply chains due to the war in Ukraine has resulted in the need for an urgent reorganisation of the energy supply system, the cost of which has created a substantial increase in electricity prices in many markets. In light of the above, the need for the development of a renewable energy market has become stronger than ever; hence, the authors of this study have oriented their efforts towards investigating the development of the renewable energy market in countries bordering the line of armed conflict in Ukraine, i.e., Poland—strongly dependent on traditional forms of energy production—and Lithuania. The primary objective of the paper is to review the literature on wind energy, which is necessary to establish the current role of this energy dimension in the renewable energy market in the energy systems of Poland and Lithuania. Therefore, this review paper is oriented towards a review and evaluation of the available thematic literature and industry studies, as well as conclusions related to the number and direction of research topics in the area of the explored issues. The basic finding of this review is that the reviewed literature and studies are most strongly oriented towards a general assessment of the ongoing energy transition in the world, in which the thread of the assessment of the energy situation in Poland and Lithuania, including the thread of the analysis of wind energy, is part of broader assessments, most often regarding EU countries. The wind energy of the countries included in the scope of the review is not discussed comprehensively. The gap identified in this respect relates in particular to the aspect of wind energy development potential concerning solutions targeted at the individual consumer. In quantitative terms, studies addressing wind energy in Lithuania represent a lower percentage of the thematic literature acquired for the review. In the area of noted niches, the need for research and analysis is recommended to increase the information supply for developing the renewable energy market in Poland and Lithuania. In doing so, it is important to explore the technical and technological solutions (with a focus on the individual customer) and the economic aspects of wind installations from a micro and macro perspective. In addition, there is a lack of sufficient studies revealing the position of public opinion regarding the development of this dimension of the RES market and the direction of its changes. This is an important problem—particularly in Poland, where the so-called distance law constantly blocks the development of this dimension of RES and where the need to develop energy from renewable sources is particularly urgent.

РОЛЬ ВІДНОВЛЮВАЛЬНИХ ДЖЕРЕЛ ЕНЕРГІЇ В ЗАБЕЗПЕЧЕННІ ЕНЕРГЕТИЧНОЇ БЕЗПЕКИ УКРАЇНИ

Stable functioning of the energy sector is the path to development and economic growth for any country. In the context of a full-scale military invasion of Ukraine, the issue of ensuring energy stability has become a top priority, as infrastructure facilities in this sector are the main targets of the enemy and the means for its other manipulations. Under current conditions, conventional energy is not able to fully meet the electricity needs of the population and business entities, so the need to develop enterprises that generate electricity from alternative sources comes to the fore. The purpose of this study is to develop effective practical recommendations for the use of renewable energy sources to ensure Ukraine's energy security in a rapidly changing external environment caused by a full-scale military invasion. The article analyses the state of renewable energy in Ukraine before and after the full-scale invasion. In particular, the general expediency of developing energy based on renewable energy sources was considered, and its positive and negative aspects of influence were described. The author analyses the main indicators characterising renewable energy: the dynamics of growth of the installed capacity of renewable energy facilities, the share of electricity generated from alternative sources in the overall energy balance, the distribution of renewable energy enterprises by regions and oblasts, the volume of energy production from alternative sources, and the total supply of energy from renewable sources. The main business entities in the renewable energy sector are identified. The losses of renewable energy facilities after the start of the full-scale invasion, the main problems faced by the renewable energy market and the risks that may arise are described. The article analyses the decisions of the state authorities in the field of renewable energy, which were made during the introduction of martial law to stabilise this market. The article provides recommendations for solving problematic aspects of the use of renewable energy sources under martial law in Ukraine and describes ways to improve the situation in the post-war period. Ensuring energy security in modern conditions has determined the relevance of this study.

Analysis of India's New and Renewable Energy Market and Policies and Implications for Korea-India Cooperation

Analysis of India's New and Renewable Energy Market and Policies and Implications for Korea-India Cooperation

India's New and Renewable Energy Market: Opportunities and Challenges

India's New and Renewable Energy Market: Opportunities and Challenges

Um modelo baseado em blockchain para ofertas de certificados token de energia renovável

ABSTRACT This article proposes an investment model for a renewable energy generator that allows it to earn the right to issue Renewable Energy Certificates (RECs) and sell them through quarterly sales auctions promoted by the blockchain. Blockchain technology can further promote the RECs market, as it enables tokenization and distribution of certificates. We did not find articles in the literature that analyze the decision to invest in decentralized autonomous organizations (DAOs) that have rules for issuing and trading RECs specified in smart contracts, which are executed and validated by the blockchain. This article contributes to the literature on blockchain technology applications in the renewable energy market by proposing issuing and selling RECs tokens through a DAO. The relevance of this research is that it shows that simple real option pricing methods can help decision-makers evaluate investment opportunities under uncertainty and flexibility. The tokenization and distribution of RECs via blockchain can promote transaction agility, reduce or eliminate bureaucracy in the means of payment, and increase the security and transparency of transactions. We propose a model for issuing and selling RECs in smart contracts. We assume that the generator has the flexibility to invest now or in one year to enter the platform, considering the energy generated in one year by a single typical 4MW wind turbine. Our model assumes that the price of the REC token follows an inverse demand function subject to stochastic shocks. The results contribute to the understanding of the performance dynamics of digital products under uncertainty and flexibility and show that distributed ledger technology (DLT) may be a viable alternative for renewable energy incentives.

Market analysis for sustainable energy suppliers with regulation restrictions

The purpose of this research is to explain the policy model even for the development of renewable energy sources in the country. This article examines the factors affecting the renewable energy market and the development methods of these resources based on the grounded theory. The information of this research has been collected using joint interviews with the managers and experts of the clean energy technologies development headquarters. Considering that renewable energy sources play an important role in the country's energy supply, data analysis is implemented in three different stages including open coding, selective coding, and central coding. This analysis will lead to appropriate development policies in the renewable energy sector. In this regard, it has been tried to look at the renewable energy market as a cause-and-effect market based on the goals set in the mentioned documents of the country and identify the background and intervening factors in this regard. Finally, a paradigmatic model of a suitable policy for renewable energy sources will be presented.

Dual-carbon development opportunities and challenges in the property industry: A key role in China’s low-carbon transition

This paper aims to explore the key role of the property industry in China’s low-carbon transition, and analyze the opportunities and challenges of its dual-carbon development. Firstly, the urgency of global greenhouse gas emissions and the importance of property industry in carbon emissions are introduced, then the definition and significance of carbon neutral and dual carbon goals are analyzed, and the international and domestic dual carbon policies and commitments are reviewed. Then it lists the main sources and components of carbon emissions of the property industry in detail, and evaluates the carbon footprint of the property industry. Next, it discusses the opportunities of new technology and innovation, renewable energy, carbon finance and carbon market for the dual-carbon development of the property industry. At the same time, it also discusses the challenges of technical constraints and cost pressures, the uncertainty and landing problems of policies and regulations, and the difficulty and constraints of landlord and tenant participation. Finally, the paper puts forward policy suggestions to promote the dual-carbon development of the property industry, including setting clear carbon reduction targets and schedules, providing policy support and financial incentives, and establishing industry cooperation and sharing mechanism.

Exploring time and frequency linkages of green bond with renewable energy and crypto market: A short clarification

Exploring time and frequency linkages of green bond with renewable energy and crypto market: A short clarification