Editorial

6 pages, 212 KiB

Open AccessEditorial

Recent Advances in the Energy Market Development: Current Challenges and Perspectives of Energy Crises in Academia

by Yuriy Bilan, Serhiy Kozmenko and Inna Makarenko

Energies 2023, 16(5), 2332; https://doi.org/10.3390/en16052332 - 28 Feb 2023

Cited by 4 | Viewed by 1770

The current challenges in the energy crisis, triggered primarily by the Russo-Ukrainian conflict, have had an unprecedented impact on investment in the energy market [...] Full article

(This article belongs to the Special Issue Financial Development and Energy Consumption Nexus)

Research

Jump to: Editorial, Other

18 pages, 3926 KiB

Open AccessArticle

Comparative Analysis on the Performance and Exhaust Gas Emission of Cars with Spark-Ignition Engines

by Marcin Rabe, Agnieszka Jakubowska, Veselin Draskovic, Katarzyna Widera, Tomasz Pudło, Agnieszka Łopatka and Łukasz Kuźmiński

Energies 2022, 15(17), 6361; https://doi.org/10.3390/en15176361 - 31 Aug 2022

Cited by 3 | Viewed by 1445

Abstract

Conventional fuels commonly used in cars with combustion engines and the effects of their combustion have a very negative impact on the state of the environment. The combustion of liquid fuels causes the introduction of many thousands of tons of CO₂ and [...] Read more.

Conventional fuels commonly used in cars with combustion engines and the effects of their combustion have a very negative impact on the state of the environment. The combustion of liquid fuels causes the introduction of many thousands of tons of CO₂ and other harmful substances into the atmosphere every year. That is why the authorities of many countries are introducing more and more stringent emission standards for cars with internal combustion engines, and car manufacturers are trying to meet these standards. Therefore, the aim of the undertaken research was to compile and analyze the power of spark engines in individual capacity ranges, compression ratios, efficiency, CO₂ emissions, dependence of combustion on engine capacity, dependence of CO₂ emissions on engine capacity, and dependence of combustion on engine power. The conducted research also compared the level of average selected variables related to CO₂ emission in terms of engine displacement by country of production using statistical analysis. Full article

(This article belongs to the Special Issue Financial Development and Energy Consumption Nexus)

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12 pages, 470 KiB

Open AccessArticle

Assessment of the Economic Efficiency of Energy Development in the Industrial Sector of the European Union Area Countries

by Romualdas Ginevičius, Roman Trishch, Yuriy Bilan, Marcin Lis and Jan Pencik

Energies 2022, 15(9), 3322; https://doi.org/10.3390/en15093322 - 02 May 2022

Cited by 5 | Viewed by 1287

Abstract

The European Union’s Green Deal emphasises the importance of improving the efficiency of the energy sector in its countries, which is why the issues involved are relevant in both scientific and practical terms. The article sets out the hypothesis that conveying the state [...] Read more.

The European Union’s Green Deal emphasises the importance of improving the efficiency of the energy sector in its countries, which is why the issues involved are relevant in both scientific and practical terms. The article sets out the hypothesis that conveying the state of the economic efficiency of energy development by grades does not reflect the real situation. Instead of ranks, it is proposed to form homogeneous groups of some countries based on non-linear data normalisation instead of today’s universally used linearisation. Grouping the euro area countries in the European Union on the basis of the value of the cost-effectiveness indicator for the energy development of their industrial sector confirmed the appropriateness of the proposed method-ology. In this way, three groups of countries were formed according to the level of cost-effectiveness achieved. The proposed methodology for grouping countries is universal and can be used for international comparisons of any kind. Full article

(This article belongs to the Special Issue Financial Development and Energy Consumption Nexus)

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14 pages, 1049 KiB

Open AccessArticle

Structural Model of Power Grid Stabilization in the Green Hydrogen Supply Chain System—Conceptual Assumptions

by Marzena Frankowska, Marta Mańkowska, Marcin Rabe, Andrzej Rzeczycki and Elżbieta Szaruga

Energies 2022, 15(2), 664; https://doi.org/10.3390/en15020664 - 17 Jan 2022

Cited by 10 | Viewed by 2981

Abstract

The paper presents the conceptual assumptions of research concerning the design of a theoretical multi-criteria model of a system architecture to stabilize the operation of power distribution networks based on a hydrogen energy buffer, taking into account the utility application of hydrogen. The [...] Read more.

The paper presents the conceptual assumptions of research concerning the design of a theoretical multi-criteria model of a system architecture to stabilize the operation of power distribution networks based on a hydrogen energy buffer, taking into account the utility application of hydrogen. The basis of the research process was a systematic literature review using the technique of in-depth analysis of full-text articles and expert consultations. The structural model concept was described in two dimensions in which the identified variables were embedded. The first dimension includes the supply chain phases: procurement and production with warehousing and distribution. The second dimension takes into account a comprehensive and interdisciplinary approach and includes the following factors: technical, economic–logistical, locational, and formal–legal. Full article

(This article belongs to the Special Issue Financial Development and Energy Consumption Nexus)

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12 pages, 1574 KiB

Open AccessArticle

Evaluation of the Sectoral Energy Development Intensity in the Euro Area Countries

by Romualdas Ginevičius, Yuriy Bilan, Grzegorz Kądzielawski, Miloslav Novotny and Tomasz Kośmider

Energies 2021, 14(17), 5298; https://doi.org/10.3390/en14175298 - 26 Aug 2021

Cited by 4 | Viewed by 1402

Abstract

National economic development largely depends on the development of the energy sector. Its condition is most commonly assessed based on the situation over the last year. An alternative approach, however, is to evaluate fluctuations in development that have occurred over a longer period. [...] Read more.

National economic development largely depends on the development of the energy sector. Its condition is most commonly assessed based on the situation over the last year. An alternative approach, however, is to evaluate fluctuations in development that have occurred over a longer period. In this paper, both methodologies have been applied, in order to assess, based on the results, which of them is more accurate. The article hypothesizes that the second method is more accurate. To prove this empirically, values representing the energy development in various sectors (industrial, agricultural, transport, service and the other (miscellaneous) sectors) in various European countries over the 2009–2018 period were estimated. The development fluctuations that occurred during the period under consideration were evaluated according to two parameters—intensity and stability. The first parameter was taken to be the difference between the values representing energy development in a given sectors at the end and beginning of the period under consideration. The second parameter was taken as the aggregate change across consecutive time slots during which positive or negative fluctuations occurred. The value of energy development in a particular economic sector was estimated as the product of the latter coefficient and the development intensity indicator. Comparison of the results representing evaluation of energy development based on the methodology proposed, and the analysis of the situation in the last year for which data was available revealed that the results in both cases differed, with the values varying from 2% (for the transport sector) to 4.5% (for the agricultural sector). Taking into account the fact that the indicator representing energy development in particular economic sectors was estimated as a percentage of the total sectoral energy consumption, this difference was relatively significant (22.7 and 1.5% respectively). Thus, the findings suggest that application of the proposed methodology is relevant. The methodology provides a greater potential to adequately research issues related to national economic development. Full article

(This article belongs to the Special Issue Financial Development and Energy Consumption Nexus)

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18 pages, 1298 KiB

Open AccessArticle

Energy Efficiency and Decarbonization in the Context of Macroeconomic Stabilization

by Anna Misztal, Magdalena Kowalska, Anita Fajczak-Kowalska and Otakar Strunecky

Energies 2021, 14(16), 5197; https://doi.org/10.3390/en14165197 - 23 Aug 2021

Cited by 9 | Viewed by 2343

Abstract

Decarbonization is an activity aimed at reducing greenhouse gas emissions to limit climate change and global warming. Ensuring macroeconomic stabilization is the basis for ecological action. The question is whether macroeconomic stabilization helps companies, institutions and countries act for decarbonization. This article presents [...] Read more.

Decarbonization is an activity aimed at reducing greenhouse gas emissions to limit climate change and global warming. Ensuring macroeconomic stabilization is the basis for ecological action. The question is whether macroeconomic stabilization helps companies, institutions and countries act for decarbonization. This article presents research on the impact of components of macroeconomic stabilization on decarbonization and energy efficiency in the largest greenhouse gas emitters in the European Union from 1990 to 2020. We focus on the following countries, France, Germany, Italy, Poland and Spain. The contribution to knowledge is using the pentagon of macroeconomic stabilization to assess macroeconomic stabilization’s impact on decarbonization and energy efficiency. According to the correlation coefficients, the Ordinary Least Squares and the Seemingly Unrelated Regression method, there is a statistically significant impact of components of macroeconomics stabilization on decarbonization and energy efficiency. Moreover, our models show a different strength and direction of relationships between the explained and explanatory variables. Research results confirm the necessity to coordinate the macroeconomic with environmental policy. We think that it is essential to use effective tools of economic support (European Union Emissions Trading System, environmental taxes) and greater pressure from European Union institutions on countries that emit harmful substances. Full article

(This article belongs to the Special Issue Financial Development and Energy Consumption Nexus)

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14 pages, 453 KiB

Open AccessArticle

The Impact of Weather Factors on Quotations of Energy Sector Companies on Warsaw Stock Exchange

by Waldemar Tarczyński, Sebastian Majewski, Małgorzata Tarczyńska-Łuniewska, Agnieszka Majewska and Grzegorz Mentel

Energies 2021, 14(6), 1536; https://doi.org/10.3390/en14061536 - 10 Mar 2021

Cited by 4 | Viewed by 1970

Abstract

Recent researches on behavioral finance have tested for, among others, evidence for the relations between weather, investors’ mood, and investment decisions. Many of the researches related to the influence of some weather factors, such as sunshine duration on stock exchange returns, but there [...] Read more.

Recent researches on behavioral finance have tested for, among others, evidence for the relations between weather, investors’ mood, and investment decisions. Many of the researches related to the influence of some weather factors, such as sunshine duration on stock exchange returns, but there is no complex research taking into account a wide group of weather factors determining investors’ mood. The main goal of the article is to verify the influence of weather factors on basic market parameters of energy sector companies quoted on the Warsaw Stock Exchange. Rates of return, trading volumes, and values of trading volume are taken into account during the research. All analyses are based on econometric models assuming the existence of typical problems of estimation such as: autocorrelation of residuals, heteroskedasticity, or abnormality of residuals. The best approximation of models was obtained for GARCH (Generalized Autoregressive Conditional Heteroskedasticity) type models. Full article

(This article belongs to the Special Issue Financial Development and Energy Consumption Nexus)

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15 pages, 1877 KiB

Open AccessArticle

Influence of the Share of Renewable Energy Sources on the Level of Energy Security in EECCA Countries

by Ivan Trifonov, Dmitry Trukhan, Yury Koshlich, Valeriy Prasolov and Beata Ślusarczyk

Energies 2021, 14(4), 903; https://doi.org/10.3390/en14040903 - 09 Feb 2021

Cited by 18 | Viewed by 2589

Abstract

In this study we aimed to determine the extent to which changes in the share of renewable energy sources, their structural complex, and the level of energy security in Eastern Europe, Caucasus and Central Asia (EECCA) countries in the medium- and long-term are [...] Read more.

In this study we aimed to determine the extent to which changes in the share of renewable energy sources, their structural complex, and the level of energy security in Eastern Europe, Caucasus and Central Asia (EECCA) countries in the medium- and long-term are interconnected. The study was performed through modeling and determination of the structural characteristics of energy security in the countries. The methodology of the approach to modeling was based on solving the problem of nonlinear optimization by selecting a certain scenario. For the study, the data of EECCA countries were used. The ability of EECCA countries to benefit from long-term indirect and induced advantages of the transformation period depends on the extent to which their domestic supply chains facilitate the deployment of energy transformation and induced economic activity. This study provides an opportunity to assess the degree of influence of renewable energy sources on the level of energy security of countries in the context of energy resource diversification. The high degree of influence of renewable energy sources on energy security in the EECCA countries has been proven in the implementation of the developed scenarios for its increase. Energy security is growing. At the same time, its level depends not only on an increase in the share of renewable sources but also on the structure of energy resources complex of countries, and the development of various renewable energy sources. Therefore, today the EECCA countries are forced not only to increase the share of renewable energy sources but also to attach strategic importance to the structural content of their energy complex. Full article

(This article belongs to the Special Issue Financial Development and Energy Consumption Nexus)

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14 pages, 758 KiB

Open AccessArticle

Trade-Offs for the Optimal Energy Efficiency of Road Transportation: Domestic Cases in Developing Countries

by Usman Akbar, Muhammad Asif Khan, Marryum Akmal, Éva Zsuzsanna Tóth Naárné and Judit Oláh

Energies 2020, 13(24), 6538; https://doi.org/10.3390/en13246538 - 11 Dec 2020

Cited by 11 | Viewed by 2372

Abstract

The increase in domestic transportation in developing countries may adversely affect the energy efficiency of road transportation due to effective productivity and carbon dioxide emissions (CO₂). When evaluating quantitatively the countries on the efficiency frontier, poor efficiency can still be seen [...] Read more.

The increase in domestic transportation in developing countries may adversely affect the energy efficiency of road transportation due to effective productivity and carbon dioxide emissions (CO₂). When evaluating quantitatively the countries on the efficiency frontier, poor efficiency can still be seen sometimes due to the slack available in undesirable output measures. This paper uses desirable and undesirable output variables, such as passenger-kilometers (PKM), tones-kilometers (TKM), and carbon dioxide (CO₂), to compute the weakly efficient decision-making units (DMUs). The data envelopment analysis (DEA) technology is used to assess the efficiencies of the decision-making units (DMUs), which are countries in our case. Then, the trade-off method with efficient binding surfaces is used to attain the optimal efficiencies of the weakly efficient DMUs. The marginal rates aid this trade-off analysis. Resultantly, such marginal trade-offs do not deteriorate the efficiency of the DMUs below the frontier line. We calculate the maximum change (margin) in a specific variable amount when another variable’s amount is changed. Thus, such a computation gives us different margins, with which each output variable can be a traded off to bring a DMU further toward the closest optimal point possible. The marginal trade-off can help the managers and policymakers in effective decision-making, and it is further recommended to address efficiency damages (by the undesired outputs). Full article

(This article belongs to the Special Issue Financial Development and Energy Consumption Nexus)

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17 pages, 2384 KiB

Open AccessArticle

Impact of Non-Financial Factors on the Effectiveness of Audits in Energy Companies

by Marko Milojević, Mariusz Urbański, Ivica Terzić and Valeriy Prasolov

Energies 2020, 13(23), 6212; https://doi.org/10.3390/en13236212 - 25 Nov 2020

Cited by 9 | Viewed by 3517

Abstract

The purpose of this study is to assess the impact of non-financial factors in the structure of a financial audit on its quality in energy companies. To assess the impact of the audit on performance indicators of companies under study, it is proposed [...] Read more.

The purpose of this study is to assess the impact of non-financial factors in the structure of a financial audit on its quality in energy companies. To assess the impact of the audit on performance indicators of companies under study, it is proposed to use the authors’ method by determining the length of the integrated audit vector as well as analysis of variance. The study was carried out on the basis of materials from five large energy (oil and gas) companies from different countries. Santos’ conversion of oil well pumps to solar power has clear environmental benefits. Gazprom’s social responsibility has, although stable, the lowest results. When conducting a financial audit, this component of performance does not have a significant impact. This explains the company’s focus on financial performance. The most effective corporate social responsibility is characteristic of Pioneer Natural Resources (PNR). In Gazprom and E.ON, despite the annual increase in financial indicators according to the classical audit option, the integrated audit vector has lesser value. Changes in the conditions for the formation of efficient activities of energy companies in the context of not only the financial component, but also sustainable development and social responsibility require the transformation of a financial audit in the context of its integration. Full article

(This article belongs to the Special Issue Financial Development and Energy Consumption Nexus)

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20 pages, 3313 KiB

Open AccessArticle

Reactive Power Optimization and Price Management in Microgrid Enabled with Blockchain

by Danalakshmi D., Gopi R., A. Hariharasudan, Iwona Otola and Yuriy Bilan

Energies 2020, 13(23), 6179; https://doi.org/10.3390/en13236179 - 24 Nov 2020

Cited by 29 | Viewed by 2492

Abstract

The energy market is gradually changing from centralized trading to peer-to-peer trading due to the tremendous increase in a microgrid with green energy resources. When more generating units are included in the microgrid, the possibilities of more reactive power flows exist in the [...] Read more.

The energy market is gradually changing from centralized trading to peer-to-peer trading due to the tremendous increase in a microgrid with green energy resources. When more generating units are included in the microgrid, the possibilities of more reactive power flows exist in the system that leads to high transmission loss which has to be optimized. The reactive power is one of the essential ancillary services in the microgrid towards preserving the voltage in the transmission and distribution line. The major contribution of the paper is towards managing the ancillary service in the distributed energy network economically and technically. This study aims to estimate and optimize the power loss, reactive power, and price management as well. Towards optimization, the self-balanced differential evolution algorithm (SBDE) is used in this study. A distribution system operator is involved in coordinating the sellers and buyers. The proposed layered microgrid architecture uses the blockchain technology for reactive power price management by providing transparency and security among peers. The process of converging various transactions into a block and adding in the distributed blockchain is illustrated. Multiple transactions are performed by using the proposed methodology, giving efficient energy transaction. The results show that the power loss is minimized using SBDE algorithm for different cases. Additionally, the study has demonstrated the price allocation of the optimal reactive power obtained from providers. The blockchain technology embedded in reactive power pricing will play a significant role in the evolution of traditional power distribution systems to active distribution networks. Full article

(This article belongs to the Special Issue Financial Development and Energy Consumption Nexus)

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15 pages, 3298 KiB

Open AccessArticle

Energy War Strategies: The 21st Century Experience

by Nazim Hajiyev, Klaudia Smoląg, Ali Abbasov and Valeriy Prasolov

Energies 2020, 13(21), 5797; https://doi.org/10.3390/en13215797 - 05 Nov 2020

Cited by 4 | Viewed by 2899

Abstract

The purpose of this study was to identify the potential initiators of energy wars and determine their boundaries of influence through the prism of energy dependency. The study also evaluated the impact of energy resources on the economic development of 48 countries. The [...] Read more.

The purpose of this study was to identify the potential initiators of energy wars and determine their boundaries of influence through the prism of energy dependency. The study also evaluated the impact of energy resources on the economic development of 48 countries. The development priorities of those countries were substantiated through establishing the linkage between energy intensity and indicators reflecting the impact of energy resources on economic development. The study offered an energy dependence matrix, which shows which market players can actively participate in energy wars. Using data from the matrix and integrative analysis of energy dependence indicators, the energy dependence forecast was made. The forecast presents optimistic, realistic, and pessimistic scenarios for the short-term (up to 2025) and long-term (up to 2030) impacts of energy wars. The study proposes a novel approach to assessing the impact of energy wars, which implies that the consequences of energy-induced conflict should be evaluated based on forecasted and threshold values. The major threat to the global energy market was found to be political instability in energy-rich countries. The proposed methodological approach is suitable for all groups of countries and allows preventing negative consequences of energy wars through minimizing the level of energy dependence. Full article

(This article belongs to the Special Issue Financial Development and Energy Consumption Nexus)

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19 pages, 640 KiB

Open AccessArticle

The Financing of Renewable Energy Sources and the Level of Sustainable Development of Poland’s Provinces in the Area of Environmental Order

by Piotr Siemiątkowski, Patryk Tomaszewski, Joanna Marszałek-Kawa and Janusz Gierszewski

Energies 2020, 13(21), 5591; https://doi.org/10.3390/en13215591 - 26 Oct 2020

Cited by 8 | Viewed by 2281

Abstract

The overall purpose of this study is to evaluate the impact of financing renewable energy sources on the assessment of sustainable development in Poland’s provinces. There are also two detailed objectives: (1) define how Polish policies are being passed on to local authorities; [...] Read more.

The overall purpose of this study is to evaluate the impact of financing renewable energy sources on the assessment of sustainable development in Poland’s provinces. There are also two detailed objectives: (1) define how Polish policies are being passed on to local authorities; (2) realize a Poland’s provinces ranking, taking into account the indicators of sustainable development, thanks to the taxonomic measure of development in the area of environmental order. This study deals with the taxonomic assessment of local sustainable development in the local administration units of Poland. To this end, the methods of linear ordering were applied for the assessment of the level of objects differentiation with the use of a closed set of statistical features. The presented analysis proved that the taxonomic distances between synthetic measures for particular provinces are considerable. The highest values of the integrated measure in 2018 were obtained by the following provinces: Podlaskie, Subcarpathian and Lubusz. It is noteworthy to point to the big changes in the ranking between 2018 and 2016. The cluster analysis showed some progress in achieving the goals of sustainable development. The group of provinces with an average level of sustainable development in 2018 included six provinces compared to two provinces in 2016. Removing one indicator from the integrated measure (the financing of renewable energy sources (RES)) led to a moderate increase in the integrated measure across all the provinces. This implies that, on average, the financing of renewable energy sources exerts increasingly smaller impacts on the level of sustainable development in Poland. Full article

(This article belongs to the Special Issue Financial Development and Energy Consumption Nexus)

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11 pages, 640 KiB

Open AccessArticle

Cost of Equity of Coal-Fired Power Generation Projects in Poland: Its Importance for the Management of Decision-Making Process

by Piotr W. Saługa, Katarzyna Szczepańska-Woszczyna, Radosław Miśkiewicz and Mateusz Chłąd

Energies 2020, 13(18), 4833; https://doi.org/10.3390/en13184833 - 16 Sep 2020

Cited by 108 | Viewed by 5207

Abstract

Our knowledge of discount rates plays an important role both in the discounted cash flow decision-making process and in the later phases of a project’s lifetime. It is useful than both for management and cash-flow monitoring purposes at operating stages. Investors putting money [...] Read more.

Our knowledge of discount rates plays an important role both in the discounted cash flow decision-making process and in the later phases of a project’s lifetime. It is useful than both for management and cash-flow monitoring purposes at operating stages. Investors putting money into power generation projects expect an appropriate rate of return to compensate them for a minimum acceptable real return available in the market (risk-free rate of interest) and the project’s specific risk. Due to its essential nature in the financial and economic evaluation of projects (it is the only parameter that reflects the risk), it is reasonable to assume that investors would also be interested in constituent components of that indicator. The discount rate is one parameter in the discounted cash flow analysis that takes into account the risk of a venture. Further, the previous research in this area has focused mainly on the dimension of this variable, and the structure of this parameter has not been dealt with any other studies. The proposed idea of this study met the expectations of the industry—it aimed to present a typical project implemented in the energy industry, a relatively simple methodology that allowed estimating the components within the cost of equity capital of the enterprise. In the power generation sector, one can find various types of discount rates—assessed for multiple technologies, at different development stages, and expressed differently. Owing to the know-how and decades-long experience, coal-fired power projects’ remarks may be a good benchmark for alternative low carbon technologies. That is why, in this work, a discount rate for valuing investment in new coal-fired power projects was evaluated. This assessment was made on the “bare-bones” assumption, meaning evaluations at 100% equity, after-tax, in constant (real) currency units. The analysis of the discount rate structure was performed by applying the procedure of the classical sensitivity analysis having the accuracy of key input parameters. Finally, the risk factors within the risk-adjusted discount rate were calculated. The obtained results showed the importance of individual risk factors within the risk-adjusted discount rate used in coal energy projects, which would enable a more pragmatic approach to controlling this parameter by decision-makers and understanding the risk. Full article

(This article belongs to the Special Issue Financial Development and Energy Consumption Nexus)

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21 pages, 2414 KiB

Open AccessArticle

Taxonomic Analysis of the Diversity in the Level of Wind Energy Development in European Union Countries

by Katarzyna Chudy-Laskowska, Tomasz Pisula, Mirosław Liana and László Vasa

Energies 2020, 13(17), 4371; https://doi.org/10.3390/en13174371 - 24 Aug 2020

Cited by 19 | Viewed by 2419

Abstract

In this paper, the development of the wind energy sector in 28 European Union countries in 2017 is described. By means of taxonomic methods—i.e., Ward’s method and the Wroclaw taxonomic methods—clusters of countries similar in terms of their potential and level of development [...] Read more.

In this paper, the development of the wind energy sector in 28 European Union countries in 2017 is described. By means of taxonomic methods—i.e., Ward’s method and the Wroclaw taxonomic methods—clusters of countries similar in terms of their potential and level of development of the wind energy sector in the EU are distinguished. The main purpose of the paper is to separate and cluster EU countries due to the current development potential of the wind energy sector and determinants stimulating the development of this sector. By means of the ranking methods of linear ordering (Technique for Order of Preference by Similarity to Ideal Solution—TOPSIS method), a ranking of EU countries that defines their position in the development of this very important wind energy sector was determined. The results show that the research hypothesis of a great diversity of EU countries considering the development potential of the wind energy sector is justified. The countries of the former European Union, which have focused for a long time on the development of wind energy in their energy policy and have had favorable climate and natural conditions, as well as a large social acceptance of programs supporting the acquisition of energy from renewable sources, have primacy in the development ranking of the energy sector. Additionally, new members of the union, in spite of some delays associated with the development of “green” energy, are trying to increase their energy potential in this area. The research may be extended to include further analyses regarding other renewable energy sources and take into account other European and world countries. Full article

(This article belongs to the Special Issue Financial Development and Energy Consumption Nexus)

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24 pages, 5735 KiB

Open AccessArticle

Commercial Biogas Plants: Lessons for Ukraine

by Valerii Havrysh, Antonina Kalinichenko, Grzegorz Mentel and Tadeusz Olejarz

Energies 2020, 13(10), 2668; https://doi.org/10.3390/en13102668 - 25 May 2020

Cited by 26 | Viewed by 5051

Abstract

Ukraine has enough biomass resources for biogas production. However, this energy potential is not used sufficiently. This research is aimed at examining the current experience of commercial biogas systems in the Europe Union and its adaptation for Ukraine. Special attention was paid to [...] Read more.

Ukraine has enough biomass resources for biogas production. However, this energy potential is not used sufficiently. This research is aimed at examining the current experience of commercial biogas systems in the Europe Union and its adaptation for Ukraine. Special attention was paid to economic indicators, such as specific investment costs, production costs (biogas, biomethane, and electricity), and incentives. Using statistical data for the European Union and Ukraine, the biogas potential for Ukraine (based on European experience) was determined. The economic competitiveness of biogas production was evaluated compared to alternatives, such as photovoltaic, wind power, biomass, conventional fuels, and liquid biofuels. The results showed that biogas complexes have higher specific investment costs and produce more expensive electricity. It was highlighted that agricultural residues and industrial waste are sustainable feedstocks for biogas systems. A perspective biogas plant is a plant that is an integrated part of the circular bioeconomy that is based on organic residues. Biomethane production (as a substitution for vehicle fuel) combined with capture and utilization of carbon dioxide is a more profitable pathway. Awareness and perception of the importance of biogas are key factors for the development of the biogas industry. To develop an effective strategy for the biogas industry, it is necessary to create a positive image in order to raise awareness and knowledge of biogas technologies. Full article

(This article belongs to the Special Issue Financial Development and Energy Consumption Nexus)

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20 pages, 2833 KiB

Open AccessArticle

Local Green Power Supply Plants Based on Alcohol Regenerative Gas Turbines: Economic and Environmental Aspects

by Oleksandr Cherednichenko, Valerii Havrysh, Vyacheslav Shebanin, Antonina Kalinichenko, Grzegorz Mentel and Joanna Nakonieczny

Energies 2020, 13(9), 2156; https://doi.org/10.3390/en13092156 - 01 May 2020

Cited by 13 | Viewed by 3306

Abstract

Growing economies need green and renewable energy. Their financial development can reduce energy consumption (through energy-efficient technologies) and replace fossil fuels with renewable ones. Gas turbine engines are widely used in transport and industry. To improve their economic attractiveness and to reduce harmful [...] Read more.

Growing economies need green and renewable energy. Their financial development can reduce energy consumption (through energy-efficient technologies) and replace fossil fuels with renewable ones. Gas turbine engines are widely used in transport and industry. To improve their economic attractiveness and to reduce harmful emissions, including greenhouse gases, alternative fuels and waste heat recovery technologies can be used. A promising direction is the use of alcohol and thermo-chemical recuperation. The purpose of this study is to estimate the economic efficiency and carbon dioxide emissions of an alcohol-fueled regenerative gas turbine engine with thermo-chemical recuperation. The carbon dioxide emissions have been determined using engine efficiency, fuel properties, as well as life cycle analysis. The engine efficiency was maximized by varying the water/alcohol ratio. To evaluate steam fuel reforming for a certain engine, a conversion performance factor has been suggested. At the optimal water/methanol ratio of 3.075 this technology can increase efficiency by 4% and reduce tank-to-wake emission by 80%. In the last 6 months of 2019, methanol prices were promising for power and cogeneration plants in remote locations. The policy recommendation is that local authorities should pay attention to alcohol fuel and advanced turbines to curb the adverse effects of burning petroleum fuel on economic growth and the environment. Full article

(This article belongs to the Special Issue Financial Development and Energy Consumption Nexus)

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Jump to: Editorial, Research

14 pages, 3423 KiB

Open AccessTechnical Note

Reliability-Oriented Design of a Solar-PV Deployments

by Paweł Kut, Katarzyna Pietrucha-Urbanik and Barbara Tchórzewska-Cieślak

Energies 2021, 14(20), 6535; https://doi.org/10.3390/en14206535 - 12 Oct 2021

Cited by 8 | Viewed by 1204

Abstract

Increasing restrictions on the emission of greenhouse gases by the standards and the European Union’s policy aims at increasing the share of renewable energy sources in the energy mix of the Member States. Subsequently, we observe a rapid increase in the installed capacity [...] Read more.

Increasing restrictions on the emission of greenhouse gases by the standards and the European Union’s policy aims at increasing the share of renewable energy sources in the energy mix of the Member States. Subsequently, we observe a rapid increase in the installed capacity of the renewable energy sources. Renewable energy sources are currently the fastest growing sectors of energy generation, specifically the photovoltaic sector. In 2005, the total installed capacity in photovoltaic installations in the European Union was about 2.17 GW, while in 2019 it was already over 130 GW. Currently, due to many forms of incentive governmental measures the construction of photovoltaic installations is rapidly increasing with installations mounted on private houses and buildings. The article presents selected issues concerning the failure modes of photovoltaic installations and a comparative assessment of the estimated and the real measured electrical production of an operational photovoltaic installation. The Solar-PV power plant design approach proposed in the paper considers the failure modes to enhance the plant’s reliability. Full article

(This article belongs to the Special Issue Financial Development and Energy Consumption Nexus)

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