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| 1 |
ID:
150926
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| Summary/Abstract |
Existing policies of household biogas projects focus mainly on supports on construction, but less consider management and maintenance, resulting in high scrap rate and waste of resources. Alternative policies must be explored to balance construction and operation. Taking the costs and benefits from a typical rural household biogas project, this paper assesses the economic performance at three different subsidy levels, i.e., no subsidy, existing standard and positive externality based standard. Furthermore three subsidy alternatives, one-time, annual and combined option are applied to the externality based standard. The results show that household biogas digesters have unsatisfactory economic performance without any subsidy and even in current subsidy policies. Environmental benefits of the digester were estimated as 2732 Chinese Yuan, significantly larger than existing subsidy standard. To keep continuous work during the 20-year lifespans of digesters, the income disparity of farmers among regions must be considered for policy application. With the increasing of labor costs, the ratio of initial subsidies must be reduced. These results provide policy implications to the future development of biogas projects in terms of both their construction and follow-up management, reuse of the abandoned digesters as well as the exploitation of other emerging renewable energy projects.
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| 2 |
ID:
150011
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| Summary/Abstract |
The purpose of this paper is to estimunate the impact of energy saving investment in residential and public buildings in Croatia for the period 2015–2020. The aim is to assess the overall socio-economic impact of energy saving renovation measures defined in Croatian strategic documents in terms of the direct, indirect and induced growth of gross value added, employment and government revenues. An estimate of the avoided costs of air pollution is also included. The overall economic impact assessment is based on an input-output methodology. From the point of view of individual investors, the benefits in terms of reduced future expenses related to energy products are usually below energy efficient renovation investment costs, making an investment financially viable only if government support is provided. If the benefits for society as a whole are included, energy efficient renovation could be assessed as viable even in the short-run. Energy saving retrofits of residential and public buildings positively contribute to economic growth, employment and protection of the environment. Because of economic growth, the tax revenues induced by these investments could compensate for government expenditures, and the overall impact on the public deficit is expected to be neutral even in the short-run.
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| 3 |
ID:
127203
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| Publication |
2014.
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| Summary/Abstract |
The increases in a country's energy capacity are related to its gross domestic product (GDP). In Brazil, increases in income and the consumption of goods and services have led to an increase in the generation of solid waste (SW), which is sent to landfills as a method of treatment and final disposal. The purpose of this study was to facilitate an increase in energy generation from renewable resources, specifically from landfills via thermal biogas plants, and the research was divided into two phases. The first phase involved the assessment of the potential population size contributing to the landfill, which could result in the installation of a financially viable enterprise to generate electricity in Brazil. Next, an estimate of the costs associated with the generation and collection of solid waste in Brazil was predicted by GDP prognoses, the latter being in accordance with the National Energy Balance (Balanço Energético Nacional - BEN) plan created by the Mines and Energy Ministry of Brazil (Ministério de Minas e Energia do Brasil - MME). The net present value (NPV) and internal rate of return (IRR) of each enterprise scenario was used in the first stage to assess the plan's financial viability. In the second stage, estimation curves such as logistics, decreasing rate of growth, and logarithmic curves were used to establish relationships between the generation scenarios and the projected collection of SW and projected GDP. Thus, a range of possible landfill biogas/methane generation values and installed energy capacities were created, considering the extreme maximum and minimum values. These values were related to the energy sources from residual fuels reported by BEN. The results demonstrated that such values still represented a small percentage (0.00020% in 2010 and 0.44496-0.81042% in 2030) of the projected energy generation from residual fuels. Thus, an urgent need was identified to formulate policies that would encourage landfills as a source of renewable energy, broadening the number of financially viable initiatives for energy generation from landfill biogas for populations of fewer than 200,000 inhabitants.
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| 4 |
ID:
175261
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| Summary/Abstract |
The Chinese government plans to adopt a low or no subsidy policy mechanism on renewable energy power development in the future. To achieve a balance between reducing financial burden on the government and ensuring profitability of investors as well as to account for the regional differences in China, a novel regional wind power grid feed-in tariff benchmark price mechanism by Net Present Value (NPV) method and Real Option (RO) method is proposed in this paper. The results voice support on the appropriateness of gradually decreasing the wind feed-in tariff (FIT) benchmark price to as low as the coal-fired FIT. The proposed FIT price level is presented as a price range on the basis of a guaranteed Internal Rate of Return (IRR) falls in between 8% to 15% for wind power investors. The results indicate that the current FIT price should be readjusted and redistributed. Although the FIT price in Central and South China grids is recommended to be relatively high, the NPV of wind farm project value in six regional grids are at the same level.
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| 5 |
ID:
149843
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Small island developing states (SIDS) have some of the highest electricity tariffs globally. Renewable energy (RE) technologies could thus have reached grid parity in various SIDS. Furthermore, the abundance of resources such as solar and wind provides ample potential for SIDS to switch from high cost diesel generators to renewables. Despite favourable conditions, RE remains a largely underinvested sector in these regions. This paper aims to undercover the reasons why grid parity does not necessary translate into private sector investments in RE. With a focus on SIDS, this paper presents an evidence that achieving grid parity based on LCOE estimates is an incomplete benchmark for decision making in the power generation industry. In particular, LCOE and grid parity do not take into account financing constraints of RE projects which are often more pronounced compared to conventional forms of power generation. This paper thus presents the business perspective of RE projects, by employing a discounted cashflow model that includes various profitability metrics and effects of taxation and depreciation. The study shows that financing conditions exert strong influence on the economic feasibility of solar projects, both in LCOE terms and profitability terms. Thus, key policies should be targeted at improving financing conditions to ensure mobilization of private sector finances in solar PV.
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| 6 |
ID:
097594
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2010.
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| Summary/Abstract |
This paper presents results of a study of projected costs for a grid-connected PV system for domestic application in Ireland. The study is based on results from a 1.72 kWp PV system installed on a flat rooftop in Dublin, Ireland. During its first year of operation a total of 885.1 kWh/kWp of electricity was generated with a performance ratio of 81.5%. The scenarios employed in this study consider: a range of capital costs; cost dynamics based on a PV module learning rate of 20±5%; projections for global annual installed PV capacity under an advanced and moderate market growth conditions; domestic electricity cost growth of 4.5% based on historic data; and a reduction of 25% or 50% in the CO2 intensity of national electricity production by 2055. These scenarios are used to predict when system life cycle production costs fall to grid prices (grid parity).
Average NPV and electricity generation costs ranged from -€14,330 and 0.58 €/kWh and were close to zero and 0.18 €/kWh for a system installed in 2009 and 2030, respectively. However, under optimistic conditions NPVs are positive for systems installed after 2021 and grid parity occurs in 2016. Findings are compared with similar international studies.
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| 7 |
ID:
116963
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2012.
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| Summary/Abstract |
Recent failures of renewable energy plants have raised concerns regarding government's role in providing credit subsidies and have harmed the long-run development of renewable energy. The major reason for these failures lies in government loan appraisers not having a model that addresses these root causes and instead relying on traditional net present value (NPV) analysis. What is required is a model representing entrepreneurs' investment decision processes when faced with uncertainty, irreversibility, and flexibility that characterize renewable energy investments. The aim is to develop such a model with a real options analysis (ROA) criterion as the foundation. A case study comparing NPV with ROA decisions for 50 and 100 million gallon ethanol plants is used as a basis for future development of a template government loan appraisers can use for evaluating the feasibility of renewable energy investments.
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