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ID:
149843
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| Summary/Abstract |
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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| 2 |
ID:
150919
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| Summary/Abstract |
Studying temporal patterns in emissions associated with electricity generation is increasingly important. On the supply side, there is interest in integrating renewable energy sources (solar, wind), which are known to vary daily and hourly. On the demand side, the concept of demand response is driving a need to better understand the impact of peak versus off-peak loading, with the objective of maximizing efficiency. In this study, we examine the case of electric power generation in Singapore, and aim to assess the half-hourly variation in associated average carbon dioxide emissions. Given the country’s serious push for clean energy solutions and a possibility of adopting carbon trading in the future, we feel the need to address the currently existing gap in research on daily CO2 emissions patterns. By associating representative electricity generation data with the characterized fleet of power plants, half-hourly emissions are found to range between 415 and 455 kg CO2 per MW h. Marginal emission factors show a fluctuating daily pattern between 390 and 800 kg CO2/MW h. Policy makers able to work with real generation data can use this approach to understand the carbon footprint of short-term supply and demand interventions.
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