Search results for: fuel price structure

Authors: Clarinda V. Nhangumbe, Ercília Sousa

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Weather Derivatives are financial instruments used to cover non-catastrophic weather events and can be expressed in the form of standard or plain vanilla products, structured or exotics products. The underlying asset, in this case, is the weather index, such as temperature, rainfall, humidity, wind, and snowfall. The complexity of the Weather Derivatives structure shows the weakness of the Black Scholes framework. Therefore, under the risk-neutral probability measure, the option price of a weather contract can be given as a unique solution of a two-dimensional partial differential equation (parabolic in one direction and hyperbolic in other directions), with an initial condition and subjected to adequate boundary conditions. To calculate the price of the option, one can use numerical methods such as the Monte Carlo simulations and implicit finite difference schemes conjugated with Semi-Lagrangian methods. This paper is proposed two explicit methods, namely, first-order upwind in the hyperbolic direction combined with Lax-Wendroff in the parabolic direction and first-order upwind in the hyperbolic direction combined with second-order upwind in the parabolic direction. One of the advantages of these methods is the fact that they take into consideration the boundary conditions obtained from the financial interpretation and deal efficiently with the different choices of the convection coefficients.

Keywords: incomplete markets, numerical methods, partial differential equations, stochastic process, weather derivatives

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Authors: Victor Bodell, Lukas Ekstrom, Somayeh Aghanavesi

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Fuel consumption (FC) is one of the key factors in determining expenses of operating a heavy-duty vehicle. A customer may therefore request an estimate of the FC of a desired vehicle. The modular design of heavy-duty vehicles allows their construction by specifying the building blocks, such as gear box, engine and chassis type. If the combination of building blocks is unprecedented, it is unfeasible to measure the FC, since this would first r equire the construction of the vehicle. This paper proposes a machine learning approach to predict FC. This study uses around 40,000 vehicles specific and o perational e nvironmental c onditions i nformation, such as road slopes and driver profiles. A ll v ehicles h ave d iesel engines and a mileage of more than 20,000 km. The data is used to investigate the accuracy of machine learning algorithms Linear regression (LR), K-nearest neighbor (KNN) and Artificial n eural n etworks (ANN) in predicting fuel consumption for heavy-duty vehicles. Performance of the algorithms is evaluated by reporting the prediction error on both simulated data and operational measurements. The performance of the algorithms is compared using nested cross-validation and statistical hypothesis testing. The statistical evaluation procedure finds that ANNs have the lowest prediction error compared to LR and KNN in estimating fuel consumption on both simulated and operational data. The models have a mean relative prediction error of 0.3% on simulated data, and 4.2% on operational data.

Keywords: artificial neural networks, fuel consumption, friedman test, machine learning, statistical hypothesis testing

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Authors: Sven Borén, Henrik Ny

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Ambitions within the EU for moving towards sustainable transport include major emission reductions for fossil fuel road vehicles, especially for buses, trucks, and cars. The electric driveline seems to be an attractive solution for such development. This study first applied the Framework for Strategic Sustainable Development to compare sustainability effects of today’s fossil fuel vehicles with electric vehicles that have batteries or hydrogen fuel cells. The study then addressed a scenario were electric vehicles might be in majority in Europe by 2050. The methodology called Strategic Lifecycle Assessment was first used, were each life cycle phase was assessed for violations against sustainability principles. This indicates where further analysis could be done in order to quantify the magnitude of each violation, and later to create alternative strategies and actions that lead towards sustainability. A Life Cycle Assessment of combustion engine cars, plug-in hybrid cars, battery electric cars and hydrogen fuel cell cars was then conducted to compare and quantify environmental impacts. The authors found major violations of sustainability principles like use of fossil fuels, which contribute to the increase of emission related impacts such as climate change, acidification, eutrophication, ozone depletion, and particulate matters. Other violations were found, such as use of scarce materials for batteries and fuel cells, and also for most life cycle phases for all vehicles when using fossil fuel vehicles for mining, production and transport. Still, the studied current battery and hydrogen fuel cell cars have less severe violations than fossil fuel cars. The life cycle assessment revealed that fossil fuel cars have overall considerably higher environmental impacts compared to electric cars as long as the latter are powered by renewable electricity. By 2050, there will likely be even more sustainable alternatives than the studied electric vehicles when the EU electricity mix mainly should stem from renewable sources, batteries should be recycled, fuel cells should be a mature technology for use in vehicles (containing no scarce materials), and electric drivelines should have replaced combustion engines in other sectors. An uncertainty for fuel cells in 2050 is whether the production of hydrogen will have had time to switch to renewable resources. If so, that would contribute even more to a sustainable development. Except for being adopted in the GreenCharge roadmap, the authors suggest that the results can contribute to planning in the upcoming decades for a sustainable increase of EVs in Europe, and potentially serve as an inspiration for other smaller or larger regions. Further studies could map the environmental effects in LCA further, and include other road vehicles to get a more precise perception of how much they could affect sustainable development.

Keywords: strategic, electric vehicles, sustainability, LCA

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Authors: Łukasz Grabowski, Michał Gęca, Mirosław Wendeker

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This paper presents the simulation results of a new opposed piston diesel engine to power a light aircraft. Created in the AVL Boost, the model covers the entire charge passage, from the inlet up to the outlet. The model shows fuel injection into cylinders and combustion in cylinders. The calculation uses the module for two-stroke engines. The model was created using sub-models available in this software that structure the model. Each of the sub-models is complemented with parameters in line with the design premise. Since engine weight resulting from geometric dimensions is fundamental in aircraft engines, two configurations of stroke were studied. For each of the values, there were calculated selected operating conditions defined by crankshaft speed. The required power was achieved by changing air fuel ratio (AFR). There was also studied brake specific fuel consumption (BSFC). For stroke S1, the BSFC was lowest at all of the three operating points. This difference is approximately 1-2%, which means higher overall engine efficiency but the amount of fuel injected into cylinders is larger by several mg for S1. The cylinder maximum pressure is lower for S2 due to the fact that compressor gear driving remained the same and boost pressure was identical in the both cases. Calculations for various values of boost pressure were the next stage of the study. In each of the calculation case, the amount of fuel was changed to achieve the required engine power. In the former case, the intake system dimensions were modified, i.e. the duct connecting the compressor and the air cooler, so its diameter D = 40 mm was equal to the diameter of the compressor outlet duct. The impact of duct length was also examined to be able to reduce the flow pulsation during the operating cycle. For the so selected geometry of the intake system, there were calculations for various values of boost pressure. The boost pressure was changed by modifying the gear driving the compressor. To reach the required level of cruising power N = 68 kW. Due to the mechanical power consumed by the compressor, high pressure ratio results in a worsened overall engine efficiency. The figure on the change in BSFC from 210 g/kWh to nearly 270 g/kWh shows this correlation and the overall engine efficiency is reduced by about 8%. Acknowledgement: This work has been realized in the cooperation with The Construction Office of WSK "PZL-KALISZ" S.A." and is part of Grant Agreement No. POIR.01.02.00-00-0002/15 financed by the Polish National Centre for Research and Development.

Keywords: aircraft, diesel, engine, simulation

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Authors: Leonard D. Agana, Wendell Ace Dela Cruz, Arjan C. Lingaya, Bonifacio T. Doma Jr.

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The purpose of this paper is to study the predict the fuel performance parameters, which include drivability index (DI), vapor lock index (VLI), and vapor lock potential using distillation curve and Reid vapor pressure (RVP) of dual alcohol-gasoline fuel blends. Distillation curve and Reid vapor pressure were predicted using artificial neural networks (ANN) with macroscopic properties such as boiling points, RVP, and molecular weights as the input layers. The ANN consists of 5 hidden layers and was trained using Bayesian regularization. The training mean square error (MSE) and R-value for the ANN of RVP are 91.4113 and 0.9151, respectively, while the training MSE and R-value for the distillation curve are 33.4867 and 0.9927. Fuel performance analysis of the dual alcohol–gasoline blends indicated that highly volatile gasoline blended with dual alcohols results in non-compliant fuel blends with D4814 standard. Mixtures of low-volatile gasoline and 10% methanol or 10% ethanol can still be blended with up to 10% C3 and C4 alcohols. Intermediate volatile gasoline containing 10% methanol or 10% ethanol can still be blended with C3 and C4 alcohols that have low RVPs, such as 1-propanol, 1-butanol, 2-butanol, and i-butanol. Biography: Graduate School of Chemical, Biological, and Materials Engineering and Sciences, Mapua University, Muralla St., Intramuros, Manila, 1002, Philippines

Keywords: dual alcohol-gasoline blends, distillation curve, machine learning, reid vapor pressure

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Authors: Jim J. Catina, Jackee M. Gwynn, Jin S. Kang

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Additive manufacturing (AM) for hybrid rocket engines is becoming increasingly attractive due to its ability to create complex grain configurations with improved regression rates when compared to cast grains. However, the presence of microvoids in parts produced through the additive manufacturing method of Fused Deposition Modeling (FDM) results in a lower fuel density and is believed to cause a decrease in regression rate compared to ideal performance. In this experiment, FDM was used to create hybrid rocket fuel grains with a star configuration composed of acrylonitrile butadiene styrene (ABS). Testing was completed to determine the effect of heat treatment as a post-processing method to improve the combustion performance of hybrid rocket fuel grains manufactured by FDM. For control, three ABS star configuration grains were printed using FDM and hot fired using gaseous oxygen (GOX) as the oxidizer. Parameters such as thrust and mass flow rate were measured. Three identical grains were then heat treated to varying degrees and hot fired under the same conditions as the control grains. This paper will quantitatively describe the amount of improvement in engine performance as a result of heat treatment of the AM hybrid fuel grain. Engine performance is measured in this paper by specific impulse, which is determined from the thrust measurements collected in testing.

Keywords: acrylonitrile butadiene styrene, additive manufacturing, fused deposition modeling, heat treatment

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Authors: Abdul Hakim Khan

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The aim of the present paper is to study the Banach Space and Combinatorial Algebraic Structure of R. It is further aimed to study algebraic structure of set of all q-extension of classical formula and function for 0 < q < 1.

Keywords: integral functions, q-extensions, q numbers of metric space, algebraic structure of r and banach space

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Authors: Redhouane Benfares, Kamel Boudjemaa, Affaf Kord, Sonia Messis, Linda Farai, Belkacem Guenachi, Kherarba Maha, Jaroslava ŠVarc-Gajić

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In recent years valorization of biowaste has attracted a lot of attention worldwide owing to its high nutritional value and low price. In this work, biowaste of animal (sardines) and plant (tomato) biowaste was used to formulate a new feed for red tilapia that showed to be competitive in its price, and zootechnical performance in comparison to commercially available tilapia feeds. Mathematical modelling was used to formulate optimal feed composition with favorable chemical composition and the lowest price. Formulated feed had high protein content (40.76%) and an energy value of 279.6 Kcal/100 g. Optimised feed was manufactured and compared to commercially available reference feed with respect to feeding intake, feed efficiency, the specific growth rate of fingerlings of Tilapia sp, and, most important, zootechnical parameters. With a fish survival rate of 100% calculated feed conversion index for the formulated feed was 2.7.

Keywords: conversion index, fish waste, formulated feed, tomato waste

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Authors: Toral Khalpada, Kanhai Joshi

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Generally, constructions of structures built in India are indeterminate structures. The purpose of this study is to investigate the application of a structure that is proved to be non-economical. The testing practice involves the application of different types of loads on both, determinate and indeterminate structure by computing it on a software system named Staad and also inspecting them practically on the construction site, analyzing the most efficient structure and diagnosing the utilization of the structure which is not so beneficial as compared to other. Redundant structures (indeterminate structure) are found to be more reasonable. All types of loads were applied on the beams of both determinate and indeterminate structures parallelly on the software and the same was done on the site practically which proved that maximum stresses in statically indeterminate structures are generally lower than those in comparable determinate structures. These structures are found to have higher stiffness resulting in lesser deformations so indeterminate structures are economical and are better than determinate structures to use for construction. On the other hand, statically determinate structures have the benefit of not producing stresses because of temperature changes. Therefore, our study tells that indeterminate structure is more beneficial but determinate structure also has used as it can be used in many areas; it can be used for the construction of two hinged arch bridges where two supports are sufficient and where there is no need for expensive indeterminate structure. Further investigation is needed to contrive more implementation of the determinate structure.

Keywords: construction, determinate structure, indeterminate structure, stress

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Authors: Abhipsa Mohanty, Harit Jha

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The world's energy demands are continuing to rise, resulting in a worldwide energy crisis and environmental pollution. Because of finite, declining supply and environmental damage, reliance on fossil fuels is unsustainable. As a result, experts are concentrating on alternative, renewable, and carbon-free energy sources. Energy sources that are both environmentally and economically sustainable are required. Microbial fuel cells (MFCs) have recently received a lot of attention due to their low operating temperatures and ability to use a variety of biodegradable substrates as fuel. There are single-chamber MFCs as well as traditional MFCs with anode and cathode compartments. Bioelectricity is produced when microorganisms actively catabolize substrate. MFCs can be used as a power source in small devices like biosensors. Understanding of its components, microbiological processes, limiting variables, and construction designs in MFC systems must be simplified, and large-scale systems must be developed for them to be cost-effective as well as increase electricity production. The purpose of this research was to review current microbiology knowledge in the field of electricity. The manufacturing process, the materials, and procedures utilized to construct the technology, as well as the applications of MFC technology, are all covered.

Keywords: bio-electricity, exoelectrogenic bacteria, microbial fuel cells, soil microorganisms

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Authors: Tamara Slišković, Tomislav Sekur

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This manuscript examines factors that affect demand and supply of the housing market in Croatia. The period from the beginning of this century, until 2008, was characterized by a strong expansion of construction, housing and real estate market in general. Demand for residential units was expanding, and this was supported by favorable lending conditions of banks. Indicators on the supply side, such as the number of newly built houses and the construction volume index were also increasing. Rapid growth of demand, along with the somewhat slower supply growth, led to the situation in which new apartments were sold before the completion of residential buildings. This resulted in a rise of housing price which was indication of a clear link between the housing prices with the supply and demand in the housing market. However, after 2008 general economic conditions in Croatia worsened and demand for housing has fallen dramatically, while supply descended at much slower pace. Given that there is a gap between supply and demand, it can be concluded that the housing market in Croatia is in imbalance. Such trend is accompanied by a relatively small decrease in housing price. The final result of such movements is the large number of unsold housing units at relatively high price levels. For this reason, it can be argued that housing prices are sticky and that, consequently, the price level in the aftermath of a crisis does not correspond to the discrepancy between supply and demand on the Croatian housing market. The degree of rigidity of the housing price can be determined by inclusion of the housing price as the explanatory variable in the housing demand function. Other independent variables are demographic variable (e.g. the number of households), the interest rate on housing loans, households' disposable income and rent. The equilibrium price is reached when the demand for housing equals its supply, and the speed of adjustment of actual prices to equilibrium prices reveals the extent to which the prices are rigid. The latter requires inclusion of the housing prices with time lag as an independent variable in estimating demand function. We also observe the supply side of the housing market, in order to explain to what extent housing prices explain the movement of new construction activity, and other variables that describe the supply. In this context, we test whether new construction on the Croatian market is dependent on current prices or prices with a time lag. Number of dwellings is used to approximate new construction (flow variable), while the housing prices (current or lagged), quantity of dwellings in the previous period (stock variable) and a series of costs related to new construction are independent variables. We conclude that the key reason for the imbalance in the Croatian housing market should be sought in the relative relationship of price elasticities of supply and demand.

Keywords: Croatian housing market, economic crisis, housing prices, supply imbalance, demand imbalance

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Authors: Haoxue Cui, Sirui Zhang, Shanshan Gao, Weiyi Zhang, Lantian Wang, Xuanwen Zheng

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The 2020 "multi-school zoning" policy makes students ineligible for direct attendance in their district. To study whether the housing price trend of the school district is affected by the policy, This paper studies housing prices based on the school district division in Xicheng District, Beijing. In this paper, we collected housing prices and the basic situation of communities from "Anjuke", which were divided into two periods of 15 months before and after the 731 policy in the Xicheng District, Beijing. Then we used DID model and time fixed effect to investigate the DIFFERENTIAL statistics, that is, the overall net impact of the policy. The results show that the coefficient is negative at a certain statistical level. It indicates that the housing prices of school districts in the Xicheng district decreased after the "multi-school zoning" policy, which shows that the policy has effectively reduced the housing price of school districts in the Xicheng District and laid a foundation for the "double reduction" policy in 2022.

Keywords: “multi-school zoning”policy, DID, time fixed effect, housing prices

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Authors: Abimbola Mobolanle Adu, Marcus Tayo Akinlade

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This comprehensive study systematically dissects the intricate interplay between the removal of fuel subsidy and its multifaceted repercussions on Nigeria's educational system. Originating in the 1970s, the fuel subsidy policy initially conceived to curtail fuel costs and faced financial unsustainability. In 2023, President Bola Tinubu's administration announced its cessation. The resultant escalation in petroleum product prices precipitated challenges within the education sector, manifesting as heightened administrative costs, increased student fees, amplified dropout rates, and others. Employing a qualitative research methodology, grounded in Critical Theory, the study draws from diverse secondary sources and employs content analysis to unravel the intricate layers of this issue. Critical Theory provides a lens through which the power dynamics, socio-economic structures, and ideological influences shaping policy decisions can be critically examined, offering a deeper understanding of the multifaceted impact. Findings underscore the imperative for strategic interventions, advocating for investments in technology and the exploration of alternative energy sources. The paper concludes by emphasizing the pivotal role of education, advocating for nuanced policies to alleviate the impact on both private and public educational institutions. In essence, this research contributes nuanced insights into the labyrinthine dynamics between fuel subsidy policies and the educational sector, underscoring the exigency for meticulous interventions to fortify the nation's educational foundation.

Keywords: administration, education, fuel subsidy, policy, multilayered impact

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Authors: Shu Tao

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Based on a global fuel consumption data product (PKU-FUEL-2007) compiled recently and a series of databases for emission factors of various sources, global emission inventories of a number of greenhouse gases and air pollutants, including CO2, CO, SO2, NOx, primary particulate matter (total, PM 10, and PM 2.5), black carbon, organic carbon, mercury, volatile organic carbons, and polycyclic aromatic hydrocarbons, from combustion sources have been developed. The inventories feather high spatial and sectorial resolutions. The spatial resolution of the inventories are 0.1 by 0.1 degree, based on a sub-national disaggregation approach to reduce spatial bias due to uneven distribution of per person fuel consumption within countries. The finely resolved inventories provide critical information for chemical transport modeling and exposure modeling. Emissions from more than 60 sources in energy, industry, agriculture, residential, transportation, and wildfire sectors were quantified in this study. With the detailed sectorial information, the inventories become an important tool for policy makers. For residential sector, a set of models were developed to simulate temporal variation of fuel consumption, consequently pollutant emissions. The models can be used to characterize seasonal as well as inter-annual variations in the emissions in history and to predict future changes. The models can even be used to quantify net change of fuel consumption and pollutant emissions due to climate change. The inventories has been used for model ambient air quality, population exposure, and even health effects. A few examples of the applications are discussed.

Keywords: air pollutants, combustion, emission inventory, sectorial information

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Authors: Ugochukwu Ejike Akpudo, Jank-Wook Hur

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The increasing demand for improved productivity, maintainability, and reliability has prompted rapidly increasing research studies on the emerging condition-based maintenance concept- Prognostics and health management (PHM). Varieties of fuel pumps serve critical functions in several hydraulic systems; hence, their failure can have daunting effects on productivity, safety, etc. The need for condition monitoring and assessment of these pumps cannot be overemphasized, and this has led to the uproar in research studies on standard feature extraction techniques for optimized condition assessment of fuel pumps. By extracting time-based, frequency-based and the more robust time-frequency based features from these vibrational signals, a more comprehensive feature assessment (and selection) can be achieved for a more accurate and reliable condition assessment of these pumps. With the aid of emerging deep classification and regression algorithms like the locally linear embedding (LLE), we propose a method for comprehensive condition assessment of electromagnetic fuel pumps (EMFPs). Results show that the LLE as a comprehensive feature extraction technique yields better feature fusion/dimensionality reduction results for condition assessment of EMFPs against the use of single features. Also, unlike other feature fusion techniques, its capabilities as a fault classification technique were explored, and the results show an acceptable accuracy level using standard performance metrics for evaluation.

Keywords: electromagnetic fuel pumps, comprehensive feature extraction, condition assessment, locally linear embedding, feature fusion

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Authors: M. S. Kilic, S. Korkut, B. Hazer

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Newly synthesized Polypropylene-g-Polyethylene glycol polymer was first time used for a compartment-less enzymatic fuel cell. Working electrodes based on Polypropylene-g-Polyethylene glycol were operated as unmediated and mediated system (with ferrocene and gold/cobalt oxide nanoparticles). Glucose oxidase and bilirubin oxidase was selected as anodic and cathodic enzyme, respectively. Glucose was used as fuel in a single-compartment and membrane-less cell. Maximum power density was obtained as 0.65 nW cm-2, 65 nW cm-2, and 23500 nW cm-2 from the unmediated, ferrocene and gold/cobalt oxide modified polymeric film, respectively. Power density was calculated to be ~16000 nW cm-2 for undiluted wastewater sample with gold/cobalt oxide nanoparticles including system.

Keywords: bilirubin oxidase, enzymatic fuel cell, glucose oxidase, nanoparticles

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Authors: Tseng-Lung Huang

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Sensory breadth experiences, such as visualization, a sense of self-location, and haptic experiences, are critical in an online try-on environment. This research adopts an emotional appeal perspective, including concrete and abstract effects, to clarify the relationship between sensory experience and consumer's behavior intention in an online try-on context. This study employed an augmented reality interactive technology (ARIT) in an online clothes-fitting context and applied snowball sampling using e-mail to invite online consumers, first to use ARIT for trying on online apparel and then to complete a questionnaire. One hundred sixty-eight valid questionnaires were collected, and partial least squares (PLS) path modeling was used to test our hypotheses. The results showed that sensory breadth, by arousing concrete effect, induces impulse buying intention and willingness to pay a price premium of online shopping. Parasocial presence, as an abstract effect, diminishes the effect of concrete effects on willingness to pay a price premium.

Keywords: sensory breadth, impulsive behavior, price premium, emotional appeal, online try-on context

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Authors: Mazouz Halima, Belghachi Abdrahmane

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Effects of electron irradiation-induced deep level defects have been studied on both n/p and p/n indium phosphide solar cells with very thin emitters. The simulation results show that n/p structure offers a somewhat better short circuit current but the p/n structure offers improved circuit voltage, not only before electron irradiation, but also after 1MeV electron irradiation with 5.1015 fluence. The simulation also shows that n/p solar cell structure is more resistant than that of p/n structure.

Keywords: InP solar cell, p/n and n/p structure, electron irradiation, output parameters

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Authors: P. Lauk, K. E. Seegel, T. Tähemaa

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The fuel consumption of modern, high wing loading, commercial aircraft in the first stage of flight is high because the usable flight level is lower and the weather conditions (jet stream) have great impact on aircraft performance. To reduce the fuel consumption, it is necessary to raise during first stage of flight the L/D ratio value within Cl 0.55-0.65. Different variable geometrical wing trailing edge modifications of SC(2)-410 airfoil were compared at M 0.78 using the CFD software STAR-CCM+ simulation based Reynolds-averaged Navier-Stokes (RANS) equations. The numerical results obtained show that by increasing the width of the airfoil by 4% and by modifying the trailing edge airfoil, it is possible to decrease airfoil drag at Cl 0.70 for up to 26.6% and at the same time to increase commercial aircraft L/D ratio for up to 5.0%. Fuel consumption can be reduced in proportion to the increase in L/D ratio.

Keywords: L/D ratio, miniflaps, mini-TED, supercritical airfoil

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Authors: Petra Buzkova, Milos Kopa

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Reliability of the credit default swap market had been questioned repeatedly during the EMU debt crisis. The article examines whether this development influenced sovereign EMU CDS prices in general. We regress the CDS market price on a model risk neutral CDS price obtained from an adopted reduced form valuation model in the 2009-2013 period. We look for a break point in the single-equation and multi-equation econometric models in order to show the changes in relations between CDS market and model prices. Our results differ according to the risk profile of a country. We find that in the case of riskier countries, the relationship between the market and model price changed when market participants started to question the ability of CDS contracts to protect their buyers. Specifically, it weakened after the change. In the case of less risky countries, the change happened earlier and the effect of a weakened relationship is not observed.

Keywords: chow stability test, credit default swap, debt crisis, reduced form valuation model, seemingly unrelated regression

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Authors: Samuel K. Degife, Kamal K. Pant, Sapna Jain

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The world´s population and industrialization of countries continued to grow in an alarming rate irrespective of the security for food, energy supply, and pure water availability. As a result, the global energy consumption is observed to increase significantly. Fossil energy resources that mainly comprised of crude oil, coal, and natural gas have been used by mankind as the main energy source for almost two centuries. However, sufficient evidences are revealing that the consumption of fossil resource as transportation fuel emits environmental pollutants such as CO2, NOx, and SOx. These resources are dwindling rapidly besides enormous amount of problems associated such as fluctuation of oil price and instability of oil-rich regions. Biomass is a promising renewable energy candidate to replace fossil-based transportation fuel and chemical production. The present study aims at valorization of hexose sugars (glucose and fructose) using zeolite based catalysts in imidazolium based ionic liquid (1-butyl-3-methylimidazolium chloride, [BMIM] Cl) reaction media. The catalytic effect chromium impregnated H-ZSM-5 (Cr/H-ZSM-5) was studied for dehydration of hexose sugars. The wet impregnation method was used to prepare Cr/H-ZSM-5 catalyst. The characterization of the prepared catalyst was performed using techniques such as Fourier transform infrared spectroscopy (FT-IR), X-ray diffraction analysis (XRD), Temperature-programmed desorption of ammonia (NH3-TPD) and BET-surface area analysis. The dehydration product, 5-hydroxymethylfurfural (5-HMF), was analyzed using high-performance liquid chromatography (HPLC). Cr/H-ZSM-5 was effective in dehydrating fructose with 87% conversion and 55% yield 5-HMF at 180 oC for 30 min of reaction time compared with H-ZSM-5 catalyst which yielded only 31% of 5-HMF at identical reaction condition.

Keywords: chromium, hexose, ionic liquid, , zeolite

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Authors: Yuhanis Yusof, Zuriani Mustaffa, Siti Sakira Kamaruddin

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Data mining is a fundamental technique in identifying patterns from large data sets. The extracted facts and patterns contribute in various domains such as marketing, forecasting, and medical. Prior to that, data are consolidated so that the resulting mining process may be more efficient. This study investigates the effect of different data normalization techniques, which are Min-max, Z-score, and decimal scaling, on Swarm-based forecasting models. Recent swarm intelligence algorithms employed includes the Grey Wolf Optimizer (GWO) and Artificial Bee Colony (ABC). Forecasting models are later developed to predict the daily spot price of crude oil and gasoline. Results showed that GWO works better with Z-score normalization technique while ABC produces better accuracy with the Min-Max. Nevertheless, the GWO is more superior that ABC as its model generates the highest accuracy for both crude oil and gasoline price. Such a result indicates that GWO is a promising competitor in the family of swarm intelligence algorithms.

Keywords: artificial bee colony, data normalization, forecasting, Grey Wolf optimizer

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Authors: Muhammad Ghaffar Doggar, Farah

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The primary objective of this feasibility study is to conduct a techno-financial assessment for installation of biomass based power plant in Faisalabad division. The study involves identification of best site for power plant followed by an assessment of biomass resource potential in the area and propose power plant of suitable size. The study also entailed comprehensive supply chain analysis to determine biomass fuel pricing, transportation and storage. Further technical and financial analyses have been done for selection of appropriate technology for the power plant and its financial viability, respectively. The assessment of biomass resources and the subsequent technical analysis revealed that 20 MW biomass power plant could be implemented at one of the locations near Faisalabad city i.e. AARI Site, Near Chak Jhumra district Faisalabad, Punjab province. Three options for steam pressure; namely, 70 bar, 90 bar and 100 bar boilers have been considered. Using international experience and prices on power plant technology and local prices on locally available equipment, the study concludes biomass fuel price of around 50 US dollars (USD) per ton when delivered to power plant site. The electricity prices used for feasibility calculations were 0.13 USD per KWh for electricity from a locally financed project and 0.11 USD per KWh for internationally financed power plant. For local financing the most viable choice is the 70 bar solution and with international financing, the most feasible solution is using a 90 bar boiler. Between the two options, the internationally financed 90 bar boiler setup gives better financial results than the locally financed 70 bar boiler project. It has been concluded that 20 MW with 90 bar power plant and internationally financed would have an equity IRR of 23% and a payback period of 7 years. This will be a cheap option for installation of power plants.

Keywords: AARI, Ayub agriculture research institute, biomass - crops residue, KWh - electricity Units, MG - Muhammad Ghaffar

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Authors: Ons Triki, Fathi Abid

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Along with the increase in the use of leasing contracts in corporate finance, multiple studies aim to model the credit risk of the lease in order to cover the losses of the lessor of the asset if the lessee goes bankrupt. In the current research paper, a convertible lease contract is elaborated in a continuous time stochastic universe aiming to ensure the financial stability of the firm and quickly recover the losses of the counterparties to the lease in case of default. This work examines the term structure of the lease rates taking into account the credit default risk and the capital structure of the firm. The interaction between the lessee's capital structure and the equilibrium lease rate has been assessed by applying the competitive lease market argument developed by Grenadier (1996) and the endogenous structural default model set forward by Leland and Toft (1996). The cumulative probability of default was calculated by referring to Leland and Toft (1996) and Yildirim and Huan (2006). Additionally, the link between lessee credit risk and lease rate was addressed so as to explore the impact of convertible lease financing on the term structure of the lease rate, the optimal leverage ratio, the cumulative default probability, and the optimal firm value by applying an endogenous conversion threshold. The numerical analysis is suggestive that the duration structure of lease rates increases with the increase in the degree of the market price of risk. The maximal value of the firm decreases with the effect of the optimal leverage ratio. The results are indicative that the cumulative probability of default increases with the maturity of the lease contract if the volatility of the asset service flows is significant. Introducing the convertible lease contract will increase the optimal value of the firm as a function of asset volatility for a high initial service flow level and a conversion ratio close to 1.

Keywords: convertible lease contract, lease rate, credit-risk, capital structure, default probability

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Authors: Maria Luiza D. Ramiento, Maria Lissette D. Lucas

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Electricity is said to serve as the backbone of modern technology. Considering this, electricity consumption has dynamically grown due to the continuous demand. An alternative producer of energy concerning electricity must therefore be given focus. Microbial fuel cell wholly characterizes a new method of renewable energy recovery: the direct conversion of organic matter to electricity using bacteria. Electricity is produced as fuel or new food is given to the bacteria. The study concentrated in determining the feasibility of electricity production from local benthic zones. Microbial fuel cells were constructed to harvest the possible electricity and to test the presence of electricity producing microorganisms. Soil samples were gathered from Calumpang River, Palawan Mangrove Forest, Rosario River and Batangas Port. Eleven modules were constructed for the different trials of the soil samples. These modules were made of cathode and anode chambers connected by a salt bridge. For 85 days, the harvested voltage was measured daily. No parameter is added for the first 24 days. For the next 61 days, acetic acid was included in the first and second trials of the modules. Each of the trials of the soil samples gave a positive result in electricity production.There were electricity producing microbes in local benthic zones. It is observed that the higher the organic content of the soil sample, the higher the electricity harvested from it. It is recommended to identify the specific species of the electricity-producing microorganism present in the local benthic zone. Complement experiments are encouraged like determining the kind of soil particles to test its effect on the amount electricity that can be harvested. To pursue the development of microbial fuel cells by building a closed circuit in it is also suggested.

Keywords: microbial fuel cell, benthic zone, electricity, reduction-oxidation reaction, bacteria

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Authors: Serdar Yaman, Hanzade Haykiri-Acma

Abstract:

Biomass is a CO₂-neutral fuel that is renewable and sustainable along with having very huge global potential. Efficient use of biomass in power generation and production of biomass-based biofuels can mitigate the greenhouse gasses (GHG) and reduce dependency on fossil fuels. There are also other beneficial effects of biomass energy use such as employment creation and pollutant reduction. However, most of the biomass materials are not capable of competing with fossil fuels in terms of energy content. High moisture content and high volatile matter yields of biomass make it low calorific fuel, and it is very significant concern over fossil fuels. Besides, the density of biomass is generally low, and it brings difficulty in transportation and storage. These negative aspects of biomass can be overcome by thermal pretreatments that upgrade the fuel property of biomass. That is, torrefaction is such a thermal process in which biomass is heated up to 300ºC under non-oxidizing conditions to avoid burning of the material. The treated biomass is called as biochar that has considerably lower contents of moisture, volatile matter, and oxygen compared to the parent biomass. Accordingly, carbon content and the calorific value of biochar increase to the level which is comparable with that of coal. Moreover, hydrophilic nature of untreated biomass that leads decay in the structure is mostly eliminated, and the surface properties of biochar turn into hydrophobic character upon torrefaction. In order to investigate the effectiveness of torrefaction process on biomass properties, several biomass species such as olive milling residue (OMR), Rhododendron (small shrubby tree with bell-shaped flowers), and ash tree (timber tree) were chosen. The fuel properties of these biomasses were analyzed through proximate and ultimate analyses as well as higher heating value (HHV) determination. For this, samples were first chopped and ground to a particle size lower than 250 µm. Then, samples were subjected to torrefaction in a horizontal tube furnace by heating from ambient up to temperatures of 200, 250, and 300ºC at a heating rate of 10ºC/min. The biochars obtained from this process were also tested by the methods applied to the parent biomass species. Improvement in the fuel properties was interpreted. That is, increasing torrefaction temperature led to regular increases in the HHV in OMR, and the highest HHV (6065 kcal/kg) was gained at 300ºC. Whereas, torrefaction at 250ºC was seen optimum for Rhododendron and ash tree since torrefaction at 300ºC had a detrimental effect on HHV. On the other hand, the increase in carbon contents and reduction in oxygen contents were determined. Burning characteristics of the biochars were also studied using thermal analysis technique. For this purpose, TA Instruments SDT Q600 model thermal analyzer was used and the thermogravimetric analysis (TGA), derivative thermogravimetry (DTG), differential scanning calorimetry (DSC), and differential thermal analysis (DTA) curves were compared and interpreted. It was concluded that torrefaction is an efficient method to upgrade the fuel properties of biomass and the biochars from which have superior characteristics compared to the parent biomasses.

Keywords: biochar, biomass, fuel upgrade, torrefaction

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Authors: Oded Hochman

Abstract:

We first show that current measures of welfare changes in the whole economy do not apply to an economy with cities. In addition, since such measures are defined over a partial equilibrium, they capture only partially the effect of a welfare change. We then define a unique and additive measure that we term the modified economic surplus (mES) which fully captures the welfare effects caused by a change in the price of a nationally traded good. We show that the price change causes, on the one hand a change of land rents in the economy and, on the other hand, an equal change of mES that can be estimated by measuring areas in the price-quantity national demand and supply plane. We construct for each city a cost function from which we derive a city’s and, after aggregation, an economy-wide demand and supply functions of nationwide prices and of either the unearned incomes (Marshalian functions) or the utility levels (compensated functions).

Keywords: city cost function, welfare measures, modified compensated variation, modified economic surplus, unearned income function, differential land rents, city size

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Authors: Hui Wu, Ye Li

Abstract:

Applying the structural break estimation method proposed by Perron and Bai (1998) to the housing price growth rate of top 5 MSAs in the Texas area, this paper estimated the structural break date for the growth rate of housing prices index. As shown in the estimation results, the break dates for each region are quite different, which indicates the heterogeneity of the housing market in response to macroeconomic conditions.

Keywords: structural break, housing prices index, ADF test, linear model

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Authors: Vahidreza Mahmoudabadi, Omid Bahar, Mohammad Kazem Jafari

Abstract:

In many applied engineering problems, structural analysis is usually conducted by assuming a rigid bed, while imposing the effect of structure bed flexibility can affect significantly on the structure response. This article focuses on investigation and evaluation of the effects arising from considering a soil-structure system in evaluation of dynamic characteristics of a steel structure with respect to elastic and inelastic behaviors. The recorded structure acceleration during Taiwan’s strong Chi-Chi earthquake on different floors of the structure was our evaluation criteria. The respective structure is an eight-story steel bending frame structure designed using a displacement-based direct method assuring weak beam - strong column function. The results indicated that different identification methods i.e. reverse Fourier transform or transfer functions, is capable to determine some of the dynamic parameters of the structure precisely, rather than evaluating all of them at once (mode frequencies, mode shapes, structure damping, structure rigidity, etc.). Response evaluation based on the input and output data elucidated that the structure first mode is not significantly affected, even considering the soil-structure interaction effect, but the upper modes have been changed. Also, it was found that the response transfer function of the different stories, in which plastic hinges have occurred in the structure components, provides similar results.

Keywords: bending steel frame structure, dynamic characteristics, displacement-based design, soil-structure system, system identification

Procedia PDF Downloads 483

Authors: Saeed Yazdani, Shahrbanoo Bagheri, Sepideh Nikravesh

Abstract:

Considering the importance and scarcity of water resources, the efficient management of water resources is of great importance. Adoption of modern irrigation technology is considered to be a key of increasing the efficiency of water used in agriculture. Policy makers have implemented several ways to induce the adoption of new irrigation technology. The empirical studies show that farmers are reluctant to utilize the use of new irrigation methods. This study aims to assess factors affecting on farmer’s decision on the application of water saving technologies with emphasize on crop price variation and water sources. A Logit model was employed to examine the impact of different variables on use of water saving technology. The required data gathered from a sample of 204 farmers in the year 2012. The results indicate that different variables such as crop price variability, water supply source, high-value crops, farm size, income, education, membership in cooperatives have a positive effect and variables such as age and number of plots have a negative impact on the probability of adopting modern water saving technologies.

Keywords: irrigation, water, water saving technology, scarcity

Procedia PDF Downloads 210