Renewable Power Projects Research Articles

How Does the Level of Rule of Law Affect Foreign Direct Investment in Renewable Energy Power Projects?

ABSTRACT Using a manually curated database, we assess the installed capacity of 203 overseas renewable energy power projects invested in by Chinese companies from 2014 to 2023 to examine the relationship between the level of rule of law and foreign direct investment. Our results indicate that there is a negative correlation between the level of rule of law and the installed capacity of renewable energy power projects in FDI. The results of heterogeneity tests reveal that when investment decisions are primarily influenced by the legal framework rather than other factors, the negative correlation between the level of rule of law and FDI is more significant. Finally, we conduct three robustness tests, all of which robustly support our conclusions.

Analytical review study of the Grid connected Micro grid Energy Management System

As an environmentally friendly method of distributing energy production, the integration of photovoltaic systems into micro grids has drawn in significant focus on. Our goal in doing is to examine features regarding micro grid that is linked to the power grid, with a focus on photovoltaic energy management in particular. Finding the optimal micro grid capacity for the solar system seeks to increase energy efficiency, decrease dependence on main grid, and promote an utilization of green power. The outlined optimization approach evaluates the micro grid’s dynamic interactions using state-of-the-art modelling and simulation tools. These components include photovoltaic panels, energy storage systems, alongside the main grid. The refinement method takes into account crucial factors including patterns of load demand, costs of the grid electricity, and variations in solar irradiation. Finding a happy medium between increasing the amount of power generated by renewable sources and decreasing overall energy costs is the objective. That study takes a multi-scenario approach to determining how various micro grid sizes affect overall system efficiency. Using scenario-based simulations and techno-economic criteria, the appropriate size of the photovoltaic system was determined. Factors like payback time, ROI, and system reliability are taken into account here. The study’s findings provide light on grid-connected micro grids, particularly in regards to photovoltaic energy management, which is crucial for their planning and implementation. In order to make educated decisions towards more robust and ecologically friendly power systems, stakeholders, lawmakers, and decision-makers can use the optimal micro grid size as a benchmark for future renewable power projects. This paper reviews the relevant literature and proposes a division and performance strategy based on its findings. By classifying energy management into three groups according to grid connection, configuration, and control method, this article provides a description of the performance, application, advantages, and disadvantages of algorithms that may be used as a reference for selecting an appropriate algorithm. Also included is a comparison table for the control strategies that were used to regulate a micro grid system that is connected to the grid.

Power Banks: Do Tax Equity Investors Add Value to Renewable Power Projects?

Power Banks: Do Tax Equity Investors Add Value to Renewable Power Projects?

Green Renewable Power and Policy in Canada: A Just Energy Transition to Net-Zero

A just and sustainable future requires green renewable power. Net-zero by 2050 is the international goal to limit global warming to 1.5 degrees Celsius and sustain the biosphere. Green renewable energy, including wind, solar, biomass and small hydro is abundant in Canada, with potential to satisfy demand with 100% green renewables. This paper compares the renewable power landscape across Canada’s provinces considering four factors—electricity energy mix, renewable energy targets (RETs), renewable energy standard offer programs (RESOPs), feed-in tariff (FITs) or community FITs (comFITs). The provinces with green renewable energy sources typically have enabling policies of RESOP, RETs and FITS, as Prince Edward Island, Nova Scotia, Ontario and New Brunswick do. In contrast, provinces with abundant oil and gas or large-scale hydro are without pro-renewable energy policies, nor community power options, excepting green renewables in Indigenous communities due to federal funding programs. Community green renewable power projects, such as the “Indigenous off-diesel initiative”, are creating jobs, community revenue and energy sovereignty, towards just and inclusive energy in off-grid Indigenous communities. To reduce climate change, fast-tracking net-zero electricity by 2035 is recommended with the prioritization of community renewable energy by RESOPs, FITs and comFITs. For the transportation and other sectors, banning of all fossil fuels before 2040 is needed. Finally, a long-term plan to reduce the negative impacts of hydroelectricity water fluctuation is needed, considering decommissioning some dams.

Inadequate demand and reluctant supply: The limits of Chinese official development finance for foreign renewable power

This paper examines the puzzle of why China has thus far channeled a tiny fraction of its massive official development finance (ODF) for energy worldwide to solar and wind power. With a supply/demand analytical framework, our empirical analysis and field research show that both the foreign demand for Chinese ODF and the supply by the country’s two global policy banks face limits. The external demand is limited because foreign countries often approach non-Chinese sources for solar and wind power development finance; even when they turn to China for renewable power finance, they request more Chinese ODF for their hydropower and coal-fired power expansion. Meanwhile, shaped by their experience in renewable power finance in China and worried about the bankability of the solar and wind power projects abroad, the two Chinese policy banks exhibit sharpened risk sensitizations and biases against renewable power projects abroad.

The Build or Buy Decision of Operations and Maintenance Services at Quaid-e-Azam Solar Power Limited

Quaid-e-Azam Solar Power Limited (QASPL) was a public sector, a for-profit company established by the Government of Punjab in 2013. The company was assigned the task of setting up renewable energy projects, in general, and solar energy power projects, in particular. The project was part of a wider initiative by the Government of Punjab under its Punjab 2025 vision to establish a 1,000 MW solar park in Bahawalpur.

Wind and solar power deployment in India: Economic aspects and policy implications

Economic assets play a key role in the growth of renewable power projects and depend on financial scenarios and policy structures offered by government policies. The focus of the study is to assess the impact of the existing economic scenarios and related government policies on wind and solar power deployment in India. The financial analysis of wind and solar power projects, along with parametric and sensitivity analysis, were performed based on the techno-economic parameters of recent wind and solar energy projects. Factors incorporated into the study are capital cost, annual cash flow, project terminal cost, discount rate, cost of capital, tax rate, capacity factor and technological degradation factor. The results show that the values of levelized cost of electricity (LCOE) calculated for recent wind and solar projects are ₹4.89/kWh ($0.0698/kWh) and ₹4.05/kWh ($0.0578/kWh), respectively, which can be reduced to ₹2.36/kWh ($0.0337/kWh) and ₹2.12/kWh ($0.0303/kWh) through proper amendments to the existing policy, an improved financial framework and technological enhancements. The study will be beneficial to policymakers and project developers, helping to boost the future deployment of wind and solar power projects. (Note: USD ($) was converted to Indian rupee (₹) at an exchange rate of 1$ = 70₹ throughout the paper.)

The profitability of onshore wind and solar PV power projects in China - A comparative study

Despite the rapid development of renewable energy power in China, the sector is facing significant challenges in the form of declining feed-in tariffs (FIT) and serious curtailment problems. However, in the long-run the nationwide carbon emission trading system may provide a new economic incentive to invest in renewable energy projects in China. Against this background, we assess the effect of gradually declining FIT on the profitability of renewable energy power projects in China and evaluate the potential of a carbon price to overcome the resulting financial gap. Based on a dataset of 1552 onshore wind and 414 solar PV power projects from 2010 to 2015, we first estimate the levelized cost of electricity (LCOE) for onshore wind and solar PV investments. We then estimate profitability using different carbon prices and varying levels of FIT. Our findings suggest that revenues from selling certified carbon emissions reductions in the carbon market can compensate partially for the revenue losses caused by declining FIT. However, the current carbon prices of China's carbon-emission trading pilot schemes are not sufficiently high to compensate for revenue losses. For 90% of PV projects to remain profitable with lower FIT, the carbon price would need to rise to USD 64/t of CO2. For on-shore wind plants, lower carbon price levels of up to USD 41/t CO2 would be sufficient.

Biomass Potential from Agricultural Waste for Energetic Utilization in Greece

The alignment of the Greek national legislation with the corresponding EU legislation has enhanced the national efforts to pursue renewable Combined Heat and Power (CHP) projects. The scope of the present study has been the identification of the available biomass resources and the assessment of their potential. In this paper, we present the results from the administrative regions of Crete, Thessaly, and Peloponnese. The levels of lignocellulosic biomass in Greece are estimated to be 2,132,286 tonnes on an annual basis, values that are very close to the cases of other Mediterranean countries like Italy and Portugal. In respect to the total agricultural residues, Crete produces 1,959,124 tonnes/year and Thessaly produces 1,759,457 tonnes/year. The most significant streams are identified to be olive pits, olive pruning, and cotton ginning remnants, with more than 100,000 tonnes/year each. In the latter part of this manuscript, a case study is presented for the development of a CHP gasification facility in Messenia. The biomass energy potential of the area is very promising, with about 3,800,000 GJ/year. The proposed small-scale gasification technology is expected to utilize 7956 tonnes of biomass per year and to produce 6630 MWh of electricity and 8580 MWh of thermal energy.

Energy development in Vietnam's Mekong river delta: a 'green' or 'grey' outlook?

The Vietnamese Mekong river delta (MD) is recognised as the biggest agriculture and aquaculture region of Vietnam. The MD plays an important role in ensuring food security for the country. The MD also has many sensitive ecosystems reliant on the ecology of the Mekong river basin. However, during the last decade, many electricity generation plants, both renewable and non-renewable power projects, have been built and some will be built in the near future in the MD. These energy plants' construction and operation may prove to be a challenge to the national energy strategy. This paper is a monograph review of two sides of energy sector industrialisation in the MD with a focus on 'green' and 'grey' socio-economic development (as 'xanh' and 'xam' in Vietnamese respectively). 'Green' energy is understood as the electricity generated from inexhaustible sources and known as renewable energy. It emits fewer greenhouse gases and causes less harm to habitats in comparison to traditional fossil fuels and hydropower. 'Grey' energy is another word for non-renewable energy or polluting energy, which can have negative effects on human health, environment, and climate. This paper finds that the MD's energy development plans at present might not be as 'green' as expected, due to more 'grey' power plans in the planning pipeline. This paper also considers an outlook on energy prices and impacts on long-term sustainable development of the MD.

Reimagining the future of gas

To meet the twin objectives of limiting climate change and providing affordable energy to a growing and urbanised population, natural gas must adapt its role in a changing energy market and remain competitive with other sources of energy longer term. Santos is ensuring its role in this future by incorporating technology into its existing operations to improve energy efficiency, reduce operating costs and reduce emissions. The declining cost of new technology, historic production data and analytics create opportunities to improve efficiency in existing facilities. As new technologies such as variable renewable power generation increase their market penetration, the role of gas and the opportunities for gas producers are also changing. Santos is investigating several projects that incorporate new technology and leverage these market changes. These projects include: • conversion of existing operations to run partially or fully on renewable power to reduce fuel consumption, reduce emissions from Santos’ operations, improve reliability and make more product available to the market; • using predictive analytics to improve well performance; • using technology to improve logistics performance; and • leveraging Santos’ existing infrastructure footprint to develop commercial-scale gas, renewable and storage hybrid power projects.

Study on the investment value and investment opportunity of renewable energies under the carbon trading system

ABSTRACTChina has promised to start the national carbon trading system in 2017. In the carbon trading system, the renewable energy projects may obtain additional benefits through the Certified Carbon Emission Reduction (CCER) trade. As the carbon price fluctuates along with the market conditions, such fluctuation enables the renewable power projects to acquire the rights of an option, i.e. it may contain an even higher value due to the uncertainties in the future. While making an investment decision, the renewable power companies may choose to make the investment immediately, or postpone the investment and accumulate more information to increase the return of investment; and for immediate investments, the return must be sufficient to exceed the potential value of a waiting option. To study the investment in renewable power projects subject to the fluctuation of carbon price, this paper adopts the trinomial tree model of real options to estimate the net present value (NPV) and real option value (ROV) of th...

Financing renewable energy: La Esperanza Hydroelectric Project

Purpose – This is a teaching case to be used in courses on funding and execution of renewable-energy projects, sustainable development, project finance or management of financial institutions. The case has been successfully used in courses at the graduate level as well as in executive education. The purpose of this paper is to achieve the following specific objectives. First, to illustrate the adjusted present value (APV) methodology to value investment projects in a project finance setting. Second, to show how APV methodologies can be used to value investment projects with subsidized financing and temporary fiscal incentives. Third, to understand how financial institutions use debt service coverage ratios to measure the capacity of projects to repay debt obligations. Design/methodology/approach – The primary source of information for the study case came from in-depth interviews with senior officials from E+Co and project sponsors. Documents from E+Co's loan approval process and investment committee minutes were also consulted. Also a site visit was performed. Findings – The case is quite interesting along several dimensions. To begin with the case deals with an important (and somewhat difficult decision) the general manager of a financial institution has to make. From a technical point of view, the case involves an APV analysis and requires the estimation of the value added (or destroyed) by several collateral effects of debt in the capital structure of the project (something seldom treated in formal courses or standard finance textbooks). In addition, even though standard financial analysis would probably have led to select on alternative course of action, the authors know the protagonist of the case actually decided to do something different based on an additional analysis (a nice postscript for the case, therefore). Research limitations/implications – Been a case study, the findings may be quite particular of the particular situation and context. However, the case provides good insight into the difficulties and problems entrepreneurs face in developing economies as well as in funding small renewable energy projects around the world. Practical implications – The case provides a number of important lessons and learning opportunities for sponsors of renewable energy power projects and managers of financial institutions. Originality/value – Please refer to the findings section above.

Rethinking how to support intermittent renewables

Few intermittent renewable power projects would have been deployed if specific policy instruments had not been implemented. Common policy instruments include the feed-in tariff, the feed-in premium and the quota system. Based on a numerical analysis, this paper shows that these specific policy instruments do not necessarily facilitate the deployment of valuable energy sources because they ignore the cost of intermittency. A valuable intermittent energy source is defined here as a source of energy which requires little financial support and which limits the need for capacity payments in order to ensure the security of supply. Based on insights from the numerical analysis, a new policy instrument is suggested: a multiplicative premium. This type of policy instrument would be a least cost approach to securing a certain quantity of intermittent generation.

How do Various Risk Factors Influence the Green Certificate Market of Norway and Sweden?

The EU renewable energy directive sets a target of increasing the share of renewable energy used in EU to 20% by 2020. The Norwegian goal for the share of renewable energy in 2020 is 67.5%. The most important policy instrument for reaching this national target is the introduction of the common market for green certificates between Norway and Sweden. This new market mechanism is promoting new, renewable power projects until 2020, and is expected to generate 26.4 TWh from 2020.The market mechanism is neutral regarding renewable technologies, and the two countries share the same level of ambition regarding production increases of the common market. In the green certificate market the power producers receive electricity certificates from the authorities, and these can be sold to electricity suppliers and certain electricity users. The electricity customers cover the costs of the system, as the costs of purchasing certificates are added to the electricity bill. The price of electricity certificates is determined by supply and demand.A new energy system model covering Norway and Sweden is developed to analyze the impact of the green certificate market. The model covers five Norwegian and four Swedish regions, with exchange of electricity between adjacent regions and neighboring countries. Various scenarios are analyzed, focusing especially on various risk factors (e.g. grid expansion, delays of new power plants, transmission grid limitations, coordination issues between grid and power projects, licensing issues, etc), as well as the impact of variations in energy demand, energy prices and certificate prices. The analyses indicate the choice of power plant technology being installed depending on the scenario assumptions, as well as the timing and the geographical location of the various plants.

Developing marine historic environment management policy: The English Heritage experience

This paper provides an opportunity to examine the involvement of English Heritage in the development of policy and practice with particular regard to how archaeology and features of historic interest are addressed under national legislation, international conventions and EU law. In this paper we provide an explanation of action taken to support conservation, understanding and enjoyment of the historic environment, such as those sites that are legally protected as historic shipwreck sites, and other features that comprise the historic environment, but which are recognised and protected through other legal mechanisms e.g., military vessels and aeroplanes. It is apparent to us that when considering the management agenda for the marine environment attention is also given to archaeological material that predates tidal inundation, as well as the subsequent legacy of maritime activities. To support this approach we examine how the historic environment is defined and included in objectives, policy and law, such as the Marine and Coastal Access Act 2009, as well as other European or international programmes to promote marine policy and spatial planning. In the years since the National Heritage Act 2002, and the empowerment of English Heritage to support marine projects, we assess the production of explanatory statements and guidance to inform protection in recognition of how change may affect historic environment features. In addition, it is apparent that extensive development is now taking place further offshore (e.g., renewable power projects) and we direct attention at how English Heritage's role is affected by legally defined maritime territorial limits that dictate interpretation of what the marine environment comprises and how such limits influence regulatory controls placed on the management of cultural heritage.

Influence of Cooling Constant on the Stirling Dish System Efficiency

Solar energy is the source of the most promising energy and the powerful one among renewable energies. Photovoltaic electricity (statement) is obtained by direct transformation of the sunlight into electricity, by means of cells statement. Greenius is a powerful simulation environment for the calculation and analysis of renewable power projects such as solar thermal trough power plants, photovoltaic systems, wind parks or Dish/Stirling systems. In this work, we simulated the operation of the concentrator dish Stirling, this simulation allowed us correctly to predict the influence of the meteorological parameters (direct normal insolation, ambient temperature, air density (altitude), the angle elevation of the sun, and wind speed) on the system efficiency.

Simulation and Modelization of Parabolic Solar Concentrator

Solar energy is the source of the most promising energy and the powerful one among renewable energies. Photovoltaic electricity (statement) is obtained by direct transformation of the sunlight into electricity, by means of cells statement. Greenius is a powerful simulation environment for the calculation and analysis of renewable power projects such as solar thermal trough power plants, photovoltaic systems, wind parks or Dish/Stirling systems. In this work, we simulated the operation of the concentrator dish Stirling, this simulation allowed us correctly to predict the influence of the meteorological parameters (direct normal isolation, ambient temperature, air density (altitude), the angle elevation of the sun, and wind speed) on the system performance and the net power produced.

Simulation of Dish Stirling Solar Concentrator by Greenius Software

Solar energy is the source of the most promising energy and the powerful one among renewable energies. Photovoltaic electricity (statement) is obtained by direct transformation of the sunlight into electricity, by means of cells statement. Greenius is a powerful simulation environment for the calculation and analysis of renewable power projects such as solar thermal trough power plants, photovoltaic systems, wind parks or Dish/Stirling systems. This program offers a unique combination of detailed technical and economical calculations as they are needed for planning and installation of renewable power projects. Greenius is the first simulation environment with comfortable user interface for the analysis of solar thermal power plants, photovoltaic systems and wind parks. In fact, any heat energy source can be used with the Stirling engine. The solar radiation can be focused onto the displacer hot-end of the Stirling engine, thereby creating a solar-powered prime mover. The direct conversion of solar power into mechanical power reduces both the cost and complexity of the prime mover. In theory, the principal advantages of Stirling engines are their use of an external heat source and their high efficiency. Stirling engines are able to use solar energy that is a cheap source of energy. Since during two-thirds of the day, solar energy is not available, solar/fuel hybrids are needed [1]. Two versions of Greenius exist: the standard and the expert version. The expert version has extended input and calculation options for solar thermal trough power plants. In all other points both versions are identical. Greenius distinguishes itself by numerous export possibilities for intermediate and final results. Almost all contents of tables and graphics can be copied to other windows applications or can be saved in other formats. The calculation results are detailed and the extended simulations perform very fast. Greenius was developed at the German Aerospace Centre (DLR). Dr. Rainer Kistner, Winfried Ortmanns, Dr. Volker Quaschning and Dr. Jurgen Dersch belonged to the development team. Marketing, distribution and service are made under licence of DLR [2].

Solutions Development for Renewable and CHP Projects For the Federal Government

ABSTRACT Many federal energy-savings performance contract (ESPC) projects have more opportunities than the traditional demand-side energy conservation measures (ECMs). Federal organizations can incorporate more advanced technologies, like renewable energy sources, into their project bundles when the energy services company (ESCO) takes advantage of creative financing, incentives and rebates available. This article will cover the following aspects of solutions development for renewable and combined heating and power (CHP) projects for the federal government. Included will be a discussion of more advanced ECMs available to a particular location. Solutions development process overview Samples of conventional ECM projects Samples of advanced ECM technologies CHP projects Renewable projects