Scarcity Price Research Articles

Recent Progress in Low Pt Content Electrocatalysts for Hydrogen Evolution Reaction

AbstractElectrochemical water splitting plays a key role in the production of highly pure hydrogen by using renewable energy. To lower energy consumption, efficient electrocatalysts are required to drive and accelerate hydrogen evolution reaction (HER). Although Pt is still considered as a state‐of‐the‐art electrocatalyst toward HER, its large‐scale deployment is limited by the scarcity and high price. Low Pt content electrocatalysts (LPCEs) have great potential to overcome this limitation by lowering Pt consumption, while its high activity can be maintained in the meantime. In this review, some major synthetic methods of LPCEs are summarized, including wet‐chemistry method, electrochemistry method, annealing, and atomic layer deposition. Subsequently, the authors review a series of electrocatalysts of LPCEs toward HER in recent years. Based on the classification of different Pt forms, such LPCEs include Pt nanoparticles on supports, Pt nanoclusters on supports, Pt single‐atom catalysts (SACs), Pt alloy catalysts, and LCEPs with Pt‐rich surfaces. Notably, the HER performance can be improved by engineering LPCEs by using several strategies. Finally, the authors discuss the achievements and perspectives for LPCEs, which might provide some insights for future industrialized applications in hydrogen production.

ZONAL PRICING IN KAZAKHSTAN POWER SYSTEM WITH A UNIT COMMITMENT MODEL

Developing economies are in process of liberalizing their electricity markets, following similar process in developed economics. This process aims at establishing liquid energy exchanges that provide clear price signals, providing indications on the profitability of different operations: production, retail, trading in interconnections. This paper aims at developing a unit commitment model for examining zonal market pricing in Kazakhstan. The latter has an extensive landscape but sparsely populated, while is also characterized by the high availability of domestic fossil fuels, but located in different sub-regions of the country. The provision of zonal price signals in such a power system in invaluable, as it enables the provision of clear price signals on the needed infrastructure and the estimation of the zonal hourly energy and technology mix. Moreover, in enables the formation of dynamic bidding strategies by market participants in cases with favourable conditions, such as the implementation of scarcity pricing. This paper presents a unit commitment model that used to assess different bidding strategies and to provide zonal price signals. The strategies are formed, depending on the technology type and fuel prices comparison. Results provide clear signals on needed infrastructure among zones in Kazakhstan. It also shows that dynamic biding can lead to market coupling. Finally, it indicates the importance of institutional capability to monitor bidding strategies, eliminating speculation.

PENERAPAN TEKNOLOGI BOKASHI PLUS T PADA KELOMPOK PETANI ORGANIK DI DESA MINASA BAJI KECAMATAN BANTIMURUNG

The Farmers in Minasa Baji village generally have used organic fertilizer in the form of cow dung is quite abundant in this village, in addition to chemical fertilizers (Urea, SP36, and KCl) as a source of plant nutrients. However, since cow dung is given to plants without going through the correct decomposition process, so not only does it contribute to the growth of the plant, potentially even becoming a pest and disease nest. On the other hand, as the loss of chemical fertilizer subsidies, the scarcity of chemical fertilizers and high prices in the market become a constraint farmers in the fulfillment of nutrient needs. Therefore, to anticipate the scarcity and high prices of chemical fertilizers, which tend to rise and the frequent occurrence of scarcity, it needs to look for an environmentally friendly substitute and able to substitute nutrient needs. Trichoderma technology that will produce Bokashi Plus T is able to meet the problem. The method of implementation consists of 3 methods: (1). Participatory education, (2) Training (demonstration and practice by participants), (3) Coaching and Assistance. The results of this activity are: (1) partners know the importance of using Trichoderma technology in the manufacture of organic fertilizer bokashi Plus T, (2) the partner is able to multiply his own bokashi starter, 3) Partners are able to own production Bokashi Plus T, 4) partners skilled apply bokashi independently in planting according to SOP. Keywords: Organic Farmers, Bokashi Plus T, Trichoderma

Wholesale Electricity Market Design for Decarbonization: Research Opportunities

I review several prominent wholesale electricity market design challenges presently facing policy makers, explain their importance with respect to decarbonization of the energy system, and identify a number of areas where economic research can inform policy to facilitate decarbonization. I draw from the experience of the deregulated electricity markets in the U.S. and a large economics literature to illustrate these challenges. Market designs that incentivize price-responsive demand have the potential to improve efficiency and help accommodate intermittent renewable generation resources. Utility-scale storage technologies promise to dramatically change how supply and demand are balanced in the short run. Designs promoting efficient long-run investment, such as capacity markets and scarcity pricing, must contemplate technological complementarities and other generator attributes if they are to achieve reliability standards and decarbonization at lowest cost. Long-run contracts mitigate risk and market power, and are instrumental in deploying renewable energy, yet their role in future market designs is not clearly defined. Internalizing the social cost of carbon is crucial to both short- and long-run market design objectives.

Designing Electricity Markets for High Penetrations of Zero or Low Marginal Cost Intermittent Energy Sources

This article explores key market design issues to be addressed in future electricity markets dominated by intermittent renewable generation with near zero private marginal costs for generating electricity. Changing technology mixes will change market outcomes, but they do not change the fundamental economic principles behind market design. Market-clearing prices in such a market are not necessarily mostly zero even in an energy-only market, especially with grid scale storage, an active demand side of the market, and scarcity pricing. However, increasing intermittent generator penetration increases the importance for adequately pricing scarcity and all network constraints and services. Such pricing is required to deliver investment incentives for the right technologies to locate at the right locations to efficiently maintain a stable and reliable electrical network.

Endogenous task-based technical change—factor scarcity and factor prices

This paper develops a static model of endogenous task-based technical progress to study how factor scarcity induces technological progress and changes in factor prices. The equilibrium technology is multi-dimensional and not strongly factor-saving in the sense of Acemoglu (2010). Nevertheless, labour scarcity induces labour productivity growth. There is a weak but no strong absolute equilibrium bias. This model provides a plausible interpretation of the famous contention of Hicks (1932) about the role of factor prices and factor endowments for induced innovations. It may serve as a microfoundation for canonical macro-economic models. Moreover, it accommodates features like endogenous factor supplies and a binding minimum wage.

High turbidity: Water valuation and accounting in the Murray-Darling Basin

Australia’s sophisticated and advanced water market legislation has allowed direct investment by non-landholder stakeholders in water ownership, which over time has increased the volume of water entitlements owned by government, non-governmental organisations and non-landholder investors (e.g. superannuation companies, trade speculators). The growing market value of Australian water entitlements, driven by increased water scarcity and international commodity prices, has meant that water is now one of the most valuable assets owned by many irrigators. However, to date, there is no standard practise of financial water valuation and accounting, nor is there an understanding of the most common methods used by various stakeholders. We report information from 63 in-depth expert interviews with bankers, environmental water holders, financial investors/agri-corporates, property evaluators and water brokers in the Murray-Darling Basin to establish the current practices employed. The most common valuation methods used current market prices based on water register and water broker data. Water entitlements were valued with historical cost or fair value water accounting, depending on the stakeholder. However, given the lack of standardised methodology, evaluator discretion and fast moving (or thin) markets can lead to considerable divergence in water valuation values. Recommendations are made for the need for greater transparency and standardised water valuation methods.

In-situ X-ray techniques for non-noble electrocatalysts

Abstract Electrocatalysis offers an alternative solution for the energy crisis because it lowers the activation energy of reaction to produce economic fuels more accessible. Non-noble electrocatalysts have shown their capabilities to practical catalytic applications as compared to noble ones, whose scarcity and high price limit the development. However, the puzzling catalytic processes in non-noble electrocatalysts hinder their advancement. In-situ techniques allow us to unveil the mystery of electrocatalysis and boost the catalytic performances. Recently, various in-situ X-ray techniques have been rapidly developed, so that the whole picture of electrocatalysis becomes clear and explicit. In this review, the in-situ X-ray techniques exploring the structural evolution and chemical-state variation during electrocatalysis are summarized for mainly oxygen evolution reaction (OER), hydrogen evolution reaction (HER), oxygen reduction reaction (ORR), and carbon dioxide reduction reaction (CO2RR). These approaches include X-ray Absorption Spectroscopy (XAS), X-ray diffraction (XRD), and X-ray Photoelectron Spectroscopy (XPS). The information seized from these in-situ X-ray techniques can effectively decipher the electrocatalysis and thus provide promising strategies for advancing the electrocatalysts. It is expected that this review could be conducive to understanding these in-situ X-ray approaches and, accordingly, the catalytic mechanism to better the electrocatalysis.

Salt Land and State Monopoly in Manipur, circa 1890–1990

This article explores the history of salt land in Manipur. Because of the scarcity and high price of salt cakes, salt springs were highly valued pieces of land historically. The Maharaja had control over salt wells from around mid-eighteenth century AD. After Manipur became a British protectorate, royal salt monopoly yielded handsome revenue for the State treasury. After the Palace Rebellion of 1891, road transport improved; and cheap Liverpool salt competed with local salt, which soon became unviable. When salt lost its scarcity value, the financial importance of salt wells collapsed and so did the political significance of royal monopoly over salt.

Evaluating resource adequacy impacts on energy market prices across wind and solar penetration levels

This study evaluates market impacts of excess capacity across various wind and solar system penetrations. First, different fleet compositions are simulated in a production cost model to yield price outputs. Price statistics reveal a strong relationship between scarcity price events, resource adequacy, and the mean and standard deviation of prices. Next, a method is presented for adjusting resource adequacy to a chosen level, which links a capacity expansion model with a probabilistic resource adequacy model.

The Effect of T-Commerce Scarcity Messages and Price Policies on Attitudes and Purchase Intention

Background/Objectives: This study investigated differences in the attitude of users according to type of scarcity message and price discount conditions to compose T-commerce sales messages and search for effective strategic plans.
 Methods/Statistical analysis: This study empirically verifies the difference in promotion attitude and purchase intention between the type of T-Commerce scarcity message (quantity limit message / time limit message) and the price discount policy (price discount / non-discount) message. For this purpose, 2 (scarcity type: limited quantity, limited time) X 2 (with or without price discount: price discount, no price discount) factor design between subjects was used.

Business Analytics for Intermodal Capacity Management

Network operations often suffer from chronic asset imbalance over time and across locations. This paper addresses the issue in the intermodal industry. The problem is mainly driven by myopic policies, environmental uncertainty, and network interdependence. To address the problem, we develop a unified framework that integrates two core operations: container repositioning and load acceptance. The central piece is the scarcity pricing scheme, which internalizes the externalities each acceptance imposes over time and across locations. The scheme plays two crucial roles: to transmit dynamic scarcity information and to incentivize container repositioning. It is most effective when network imbalance and supply risk are high. Exploiting random capacity and heterogeneous lead time, we further refine the load acceptance policy and develop efficient algorithms. We demonstrate that our approach can dynamically reduce network imbalance and improve efficiency. As such, our work provides analytical tools and insights on how to manage network capacity, when the information is dispersed and evolving over time.

Operating Reserve Demand Curve, Scarcity Pricing and Intermittent Generation: Lessons from the Texas ERCOT Experience

Resolving the resource adequacy problem has been usually entrusted to the imposition of some kind of long-term capacity requirements or to forward markets. The Operating Reserve Demand Curve (ORDC), which is linked to short-term market conditions and does not require central planning, has been presented as an alternative system with which to ensure resource adequacy. Using hourly data from the Texas ERCOT market, we empirically show that ORDC prices are significantly negatively affected by wind generation. We find that, if wind generation is relatively low, a 1% increase in wind generation decreases the ORDC price by around 0.2-0.1%. Moreover, if wind generation is greater than 8,000-9,000 MW, the ORDC price is expected to be zero. This may preclude investors from obtaining clearly perceivable long-term price signals, such as capacity requirements intent.

Promising sensitizers for dye sensitized solar cells: A comparison of Ru(II) with other earth's scarce and abundant metal polypyridine complexes

AbstractThere has recently been a growing interest in dye sensitized solar cells (DSSCs) based on ruthenium metal, but due to the scarcity and high price of ruthenium, design of better and cheaper light adsorbent dyes based on more abundant metal ions is one of the key issues for future development of the DSSCs. Using density functional theory (DFT) and time‐dependent DFT we have studied the properties of new and abundant metal ion‐based polypyridyl dyes for p‐type DSSCs and compared with ruthenium and other scarce metal ions. Molecular geometries, electronic structures, and optical absorption spectra have been calculated using an implicit solvent corresponding to acetonitrile. The calculated fair light harvesting efficiency, high hole injection efficiency and Gibbs free energy for the hole injection and longer excited state lifetime (important for reflecting the efficiency of solar cells) for the new abundant metal ions (V3+ and Cr2+) based dyes could provide promising sensitizers for efficient next generation DSSC's for p‐SC.

Investigation of New Pt Alloy Catalyst with Rare Earth Elements for Hydrogen Evolution Reaction

As rapid development of fuel cell and hydrogen industries are observed recently, necessity of hydrogen infrastructure of production and transportation emerged as the key. Because steam reforming and partial oxidation of hydrocarbons are main methods to produce hydrogen, water electrolysis should be studied and developed to accelerate hydrogen economy (1, 2). To become complete green energy, hydrogen production via water electrolysis is demanded in hydrogen economy. For developing hydrogen evolution reaction (HER) electrocatalysts, cheap, efficient and stable catalysts are essential for large-scale application. Although Pt is well known state-of-the-art electrocatalyst for HER, scarcity and expensive price of Pt are main hindrances. Many studies focused on non-Pt electrocatalysts or Pt alloy catalysts to replace or reduce Pt usages while remaining high HER performances (3, 4). Remarkable improvements were observed in such catalysts but synthesis of the catalysts are complex and difficult for large-scale applications (5). In this study, platinum alloy with Sc and La were prepared to improve catalytic activities in HER. Pt3La and Pt3Sc are known and studied for improving electrocatalytic activities of Pt in oxygen reduction reaction (ORR) but have not been studied for HER activity (6). As rare-earth metals have extremely low reduction potentials and difficult to synthesize alloy catalysts, electron-beam(EB) radiation method was applied to synthesize carbon supported rare earth metal alloyed Pt catalyst. EB method is a simple and eco-friendly reduction method which can reduce even rare earth metals and also have advantages in mass production (7). XRD analysis indicated that Pt alloys and Pt/C were successfully synthesized. Peak shifts were the evidences of the alloy formation due to lattice parameter changes. From the electrochemical evaluations, although Pt3La/C showed the highest mass activity at overpotential 100mV, it has low stability and easily corroded. On the other hand, Pt3Sc/C showed highly improved stability and showed no noticeable change after 3000 HER cycles. From this result, optimal ratios of Sc and La in Pt ternary alloy can be investigated and expected to have both high activity and stability. References A. T. Marshall, S. Sunde, M. Tsypkin and R. Tunold, Inter. J. Hydro. Energy, 32, 2320 (2007). A. Ursua, L. M. Gandia and P. Sanchis, Proc. IEEE, 100, 410 (2012). S. Deng, Y. Zhong, Y. Zeng, Y. Wang, Z. Yao, F. Yang, S. Lin, X. Wang, X. Lu and X. Xia, Adv. Mater., 29, 1700748 (2017). K. Li, Y. Li, Y. Wang, J. Ge, C. Liu and W. Xing, Ene. Environ. Science, 11, 1232 (2018). C. Tang, L. Gan, R. Zhang, W. Lu, X. Jiang, A. M. Asiri, X. Sun, J. Wang and L. Chen, Nano Lett., 16, 6617 (2016). P. Malacrida, M. Escudero-Escribano, A. Verdaguer-Casadevall, I. E. Stephens and I. Chorkendorff, J.f Mater. Chem. A, 2, 4234 (2014). J.-Y. Park, D.-H. Kwak, K.-B. Ma, S.-B. Han, G. S. Chai, S.-K. Kim, D.-H. Peck, C.-S. Kim, A. Kucernak and K.-W. Park, J. Catal., 359, 46 (2018).

Challenges for wholesale electricity markets with intermittent renewable generation at scale: the US experience

The supply of intermittent wind and solar generation with zero marginal operating cost is increasingly rapidly in the US. These changes are creating challenges for wholesale markets in two dimensions. Short-term energy and ancillary services markets, built upon mid-twentieth century models of optimal pricing and investment, which now work reasonably well, must accommodate the supply variability and energy market price impacts associated with intermittent generation at scale. These developments raise more profound questions about whether the current market designs can be adapted to provide good long-term price signals to support investment in an efficient portfolio of generating capacity and storage consistent with public policy goals. The recent experience of the California ISO (CAISO) is used to illustrate the impact of intermittent generation on supply patterns, supply variability, and market-based energy prices. Reforms in capacity markets and scarcity pricing mechanisms are needed if policy-makers seek to adapt the traditional wholesale market designs to accommodate intermittent generation at scale. However, if the rapid growth of integrated resource planning, subsidies for some technologies but not others, mandated long term contracts, and other expansions of state regulation continue, more fundamental changes are likely to be required in the institutions that determine generator and storage entry and exit decisions.

The Effect Of Magnetic Field And Heater In Biodiesel Fuel Line Toward Torque, Power, and Fueld Consumption Of One Cylinder Four Stroke Diesel Engine At Maximum Load

Depletion of petroleum reserves causing scarcity and higher prices has lead to the rise of biodiesel fuel as a renewable alternative fuel source for diesel engine. Biodiesel has higher viscosity and flash point compared to that of diesel that it influences the combustion process in diesel engine. This research aims finding out the effect of integration of magnetic field and heating techniques in biodiesel exhaust toward torque, power and fuel consumption of one-cylinder R 175-A diesel engine, with B5 biodiesel fuel (95% diesel + 5% biodiesel from used cooking oil), with varying engine rotation of 1200, 1500, 1700, 2100, and 2500 rpm, with temperature heater set to 70°C, and with magnetic field strength of 0.0314 Tesla. The results show that the effects of magnetic field and heater were able to increase the performance of the optimum torque engine obtained at 1700 rpm and with the highest optimum torque from the use of marketed biodiesel fuels market with magnetic field and heater was 17.16Nm. The use of both with B5 biodiesel fuel at maximum load produced power of 4.081kw at the highest at 2500 rpm engine speed. It is concluded that the application of both can reduce fuel consumption to 10%. The magnetic field and heater in the fuel line affect the torque, power and fuel consumption of one cylinder four stroke diesel engine.

The Effect of T-Commerce Scarcity Messages and Price Policies on Attitudes and Purchase Intention

Background/Objectives: This study investigated differences in the attitude of users according to type of scarcity message and price discount conditions to compose T-commerce sales messages and search for effective strategic plans.
 Methods/Statistical analysis: This study empirically verifies the difference in promotion attitude and purchase intention between the type of T-Commerce scarcity message (quantity limit message / time limit message) and the price discount policy (price discount / non-discount) message. For this purpose, 2 (scarcity type: limited quantity, limited time) X 2 (with or without price discount: price discount, no price discount) factor design between subjects was used.

Better Forecasting by ERCOT has Reduced the ORDC LOLP Even As Intermittent Generation Capacity has Increased

The suggestion of multiplying the standard deviation () used in the Electric Reliability Council of Texas’ (ERCOT) Operating Reserve Demand Curve (ORDC) loss of load probability (LOLP) by a factor greater than 1.0 has been posited to solve the “missing money argument.” Historical data from 2015 through 2017 supports this theory, although the calculated factor is only 1.02. This working paper compares the ERCOT 2015 LOLP distributions with the 2018 distributions. 21 of 24 distributions have seen their standard deviation decrease, despite the historical data that shows that the standard deviation of distribution of one hour change in wind generation has increased. Additionally, the change in the mean of the summer time distributions result in a shifting away from the minimum contingency level. These two outcomes both produce a lower LOLP for a given reserve level in 2018 compared to 2015. This is caused by more accurate forecasting by ERCOT. The greater forecasting accuracy overcomes the increase in change of wind generation over an hour resulting in a reduced LOLP. Further evidence suggests that in the windy, low load months, when wind generation makes up a larger percentage of total energy produced, the change in the mean of the distributions does reflect the increase in LOLP caused by intermittent generation. An analysis of the proposal to “shift the mean error by one standard deviation” is performed showing that is identical to increasing MCL by one standard deviation. Variations on this proposal are analyzed. ERCOT 2015 data (linked in references and recorded with Mendeley) is evaluated with the proposal to shift the mean error of the distribution by a standard deviation and the variations, and the increase electricity cost from the proposals ranges from $2.4 billion to $5.75 billion per year. Finally, the foundational problem of using a forecasted error distribution to model a scarcity pricing mechanism instead of a market driven change in price model is briefly discussed.

Linking resource supplies and price drivers: Lessons from Traditional Chinese Medicine (TCM) price volatility and change, 2002–2017

Ethnopharmacological relevanceWorldwide, one of the drivers of substitution and adulteration is the cost of the natural resources (plants, animals, fungi) that are ingredients of traditional medicines. Relatively few studies have been done that link prices of traditional medicine ingredients to what drives changes in price, yet this is an important topic. Theoretically, prices have been widely considered as an economic indicator of resource scarcity. Rare, slow growing medicinal plants sell for high prices and common, less popular species for low prices. Price levels also influence the viability of farming vs. wild harvest (and incentives to overharvest high value species when tenure is weak). Prices can also influence the harvesting or buying behaviour of harvesters, traders or manufacturers. When prices are high, then there is a greater incentive to use cheaper substitute species or adulterants. As previous studies on herbal medicine ingredients have shown, adulteration applies in a wide variety of cases, including to some Traditional Chinese Medicine (TCM) species. Aim of the studyThe aim of this study was to gain a better understanding of which factors influenced changes in the market prices of document prices for four popular, but very different traditional Chinese medicine (TCM) species (2002 – 2017). Materials and methodsFluctuations in market prices were followed over a 15-year period (2002–2017) for four very different TCM ingredients: two plant species (one wild harvested for fruits (Schisandra sphenanthera Rehder & E.H. Wilson) the other in a transition from wild harvest to cultivation (Paris polyphylla Smith), an animal species (the Tokay gecko (Gekko gecko L.)) and the entomophagous “caterpillar fungus” (Ophiocordyceps sinensis (Berk). G.H. Sung, J.M. Sung, Hywel-Jones & Spatafora). ResultsHigh prices of medicinal plants are widely considered to reflect resource scarcity. Real-time market prices for three of the four very different TCM species we studied all showed major price fluctuations. The exception was P. polyphylla, whose wild populations are widely known to be increasingly scarce, where there was a steady increase in price, with few fluctuations in the upward price trend. The three other species showed significant price fluctuations. These were driven by multiple factors. Ecological and biogeographic factors that influence abundance or scarcity of supply certainly played a role. But other factors were also influential. These included both national and global economic factors (the influence of the Global Financial Crisis (GFC)), national policy changes that in turn influenced businessmen giving expensive gifts (that included O. sinensis)), climate change (influencing fruiting success of S. sphenanthera), price speculation by traders and lack of information (e.g: reduction in G. gecko prices due to traders incorrectly believing that domestication would increase supplies). ConclusionsPrice fluctuations in the four TCM species we examined are influenced by many factors and not just resource scarcity. And the situation is more complex than the trajectory based on Homma's (1992) model, where he predicted that higher prices would result in a shift to cultivation, thus replacing wild harvest. In case of both O. sinensis and P. polyphylla, Homma (1992, 1996) was right in terms of scarcity and high prices stimulating a major investment in cultivation (P. polyphylla) and artificial production (O. sinensis). But in both cases, intensive production through cultivation or artificial propagation do not yet occur on a large enough scale to reduce harvest of wild stocks. Substitution and adulteration occur with all four species. Improving information to medicinal plant traders on the supply status of TCM stocks, whether from wild harvest or from cultivation could benefit product quality, cultivation initiatives and conservation efforts.