Search results for: energy and reserve market

Authors: Abirham Simeneh Ayalew, Seada Hussen Adem, Frie Ayalew Yimam

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Battery energy storage has a great role on storing energy harnessed from different alternative resources and greatly benefit the power sector by supply energy back to the system during outage and regular operation in power sectors. Most of the study shows that there is an exponential increase in the quantity of lithium - ion battery energy storage system due to their power density, economical aspects and its performance. But this lithium ion battery failures resulted in fire and explosion due to its having flammable electrolytes (chemicals) which can create those hazards. Hazards happen in these energy storage system lead to minimize battery life spans or efficiency. Identifying the real cause of these hazards and its mitigation techniques can be the solution to improve the efficiency of battery technologies and the electrode materials should have high electrical conductivity, large surface area, stable structure and low resistance. This paper asses the real causes of chemical hazards, its impact on efficiency, proposed solution for mitigating those hazards associated with efficiency improvement and summery of researchers new finding related to the field.

Keywords: battery energy storage, battery energy storage efficiency, chemical hazards, lithium ion battery

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Authors: Qiong He, S. Thomas Ng

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Upgrading the thermal performance of building envelope of existing residential buildings is an effective way to reduce heat gain or heat loss. Overhang device is a common solution for building envelope improvement as it can cut down solar heat gain and thereby can reduce the energy used for space cooling in summer time. Despite that, overhang can increase the demand for indoor heating in winter due to its function of lowering the solar heat gain. Obviously, overhang has different impacts on energy use in different climatic zones which have different energy demand. To evaluate the impact of overhang device on building energy performance under different climates of China, an energy analysis model is built up in a computer-based simulation program known as DesignBuilder based on the data of a typical high-rise residential building. The energy simulation results show that single overhang is able to cut down around 5% of the energy consumption of the case building in the stand-alone situation or about 2% when the building is surrounded by other buildings in regions which predominantly rely on space cooling though it has no contribution to energy reduction in cold region. In regions with cold summer and cold winter, adding overhang over windows can cut down around 4% and 1.8% energy use with and without adjoining buildings, respectively. The results indicate that overhang might not an effective shading device to reduce the energy consumption in the mixed climate or cold regions.

Keywords: overhang, energy analysis, computer-based simulation, design builder, high-rise residential building, climate, BIM model

Procedia PDF Downloads 332

Authors: Muhammd Usman Sardar, Mazhar Hussain Baloch, Muhammad Shahbaz Ahmad, Zahir Javed Paracha

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Likewise other developing countries in the world, Pakistan is furthermore suffering from electrical energy deficiency as adverse well-being nominated. Its generation of electricity has become reliant onto a great range of conventional sources since the last ten of years. The foreseeable exhaustion of petroleum and conventional resources will be alarming in continued growth and development for future in Pakistan so renewable energy interchange have to be employed by interesting the majority of power grid network. Energy adding-up through solar photovoltaic based systems and projects can offset the shortfall to such an extent with this sustainable natural resources and most promising technologies. An assessment of solar energy potential for electricity generation is being presented for fulfilling the energy demands with higher level of reliability. This research study estimates the present and future approaching renewable energy resource for power generation to off-grid independent setup or energizing the existed conventional power grids of Pakistan to becoming self-sustained for its entire outfit.

Keywords: powergrid network, solar photovoltaic setups, solar power generation, solar energy technology

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Authors: Shima Naderi, Abbas Abbaszadeh Shahri

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Energy resources are reachable and affordable in Iran, thus surplus access to fossil fuels besides high level of economic growth leads to serious environmental critical such as pollutants and greenhouse gases in the atmosphere, increase in average degrease and lack of water sources specially in Tehran as a capital city of Iran. As building sector consumes a huge portion of energy, taking actions towards alternative sources of energy as well as conserving non-renewable energy resources and architectural energy saving methods are the fundamental basis for achieving sustainability`s goals. This study tries to explore implantation of both high technologies and traditional issues for reduction of energy demands in buildings of Tehran and introduce some factors and instructions for achieving this purpose. Green and energy efficient buildings such as ZEBs make it possible to preserve natural resources for the next generations by reducing pollution and increasing ecosystem self-recovery. However ZEB is not widely spread in Iran because of its low economic efficiency, it is not viable for a private entrepreneur without the governmental supports. Therefore executing of Architectural Energy Efficiency can be a better option. It is necessary to experience a substructure expansion with respect to traditional residential building style. Renewable energies and passive design which are the substantial part of the history of architecture in Iran can be regenerated and employed as an essential part of designing energy efficient buildings.

Keywords: architectural energy efficiency, passive design, renewable energies, zero energy buildings

Procedia PDF Downloads 342

Authors: Salesabil Labihi, Adil Eddiai, Mounir El Achaby, Mounir Meddad, Omar Cherkaoui, M’hammed Mazroui

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Piezoelectric materials provide a promising renewable energy source by converting mechanical energy into electrical energy through pressure and vibration. This study focuses on improving the conversion performance of poly (vinylidene fluoride-co-hexafluoropropylene) (PVDF-HFP) by incorporating graphene oxide (GO) and lead zirconate titanate (PZT). The dispersion of PZT and GO within the PVDF-HFP matrix was found to be homogeneous, resulting in high piezoelectric performance with an increase in the β-phase content. The thermal stability of the PVDF-HFP polymer also improved with the addition of PZT/GO. However, as the percentage of PZT/GO increased, the young's modulus of the composite decreased significantly. The developed composite demonstrated promising performance as a potential candidate for energy harvesting applications.

Keywords: energy harvesting, mechanical conversion, piezoelectric composite, solvent casting method

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Authors: Azaz Zaman, Imtiaz Uddin Chowdhury, Mohammad Shariful Islam

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Corporate governance has become a crucial issue in both the business and academic world as a result of world-wide financial scandals and lack of trust in corporate practices. There is no doubt that in order to thrive and attain growth in the market, a company must earn the trust of its stakeholders by consistently delivering on its commitments. Directors of the companies thus comprehend the importance of upfront communication with relevant stakeholders to increase their confidence. The authors of this article argue that practicing good corporate governance is not enough in this highly competitive market place; corporate leaders need to market their good corporate governance practices in order to make the company more attractive to investors. This article also contends that the strength of corporate governance relies wholly upon the extent to which it is communicated simply, effectively and unceasingly to its stakeholders. The main objective of this study, therefore, is to explore the importance of branding good corporate governance in order to increase corporate brand equity, attract investors, and capture market share. A structured questionnaire comprising three sections and a total of 34 questions was prepared and surveyed by the authors among respondents residing in Bangladesh and who also have an academic and corporate background, to investigate the potential impact of branding good corporate governance in the market place. High mean values for individual questions and overall section depict that communicating and branding good corporate governance to the stakeholders will not only boost the investors’ confidence but also increase the corporate brand equity, yielding both profitable and sustainable business environment.

Keywords: brand equity, investors’ preference, good corporate governance, sustainable business environment

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Authors: Mark Schudeleit, Christian Sieg, Ferit Küçükay

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This publication focuses on the limits and potentials of 48V hybrid systems, which are especially due to the cost advantages an attractive alternative, compared to established high volt-age HEVs and thus will gain relevant market shares in the future. Firstly, at market overview is given which shows the current known 48V hybrid concepts and demonstrators. These topologies will be analyzed and evaluated regarding the system power and the battery capacity as well as their implemented hybrid functions. The potential in fuel savings and CO2 reduction is calculated followed by the customer-relevant dimensioning of the electric motor and the battery. For both measured data of the real customer operation is used. Subsequently, the CO2 saving potentials of the customer-oriented dimensioned powertrain will be presented for the NEDC and the customer operation. With a comparison of the newly defined drivetrain with existing 48V systems the question can be answered whether current systems are dimensioned optimally for the customer operation or just for legislated driving cycles.

Keywords: 48V hybrid systems, market comparison, requirements and potentials in customer operation, customer-oriented dimensioning, CO2 savings

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Authors: Muhammad Yayat Afianto, Darmawan, Agung Putra Utama, Hari Kushardanto

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Fish Forever, Rare’s innovative coastal fisheries program, combined community-based conservation management approach with spatial management to restore and protect Indonesia’s small-scale fisheries by establishing Fishing Managed Access Area. A ‘TURF-Reserve’ is a fishery management approach that positions fishers at the center of fisheries management, empowering them to take care of and make decisions about the future of their fishery. After two years of the program, social marketing campaigns succeeded in changing their behavior by adopting the new conservation behavior. The Pride-TURF-R campaigns developed an overarching hypothesis of impact that captured the knowledge, attitude and behavior changes needed to reduce threats and achieve conservation results. Rare help Batu Belah fishers to develop their group, developed with their roles, sustainable fisheries plan, and the budget plan. On 12th February 2017, the Head of Loka Kawasan Konservasi Perairan Nasional (LKKPN) which is a Technical Implementation Unit for National Marine Conservation Areas directly responsible to the Directorate General for Marine Spatial Management in the Ministry of Marine Affairs and Fisheries had signed a Partnership Agreement with the Head of Batu Belah Village to manage a TURF+Reserve area as wide as 909 hectares. The fishers group have been collecting the catch and submitting the report monthly, initiated the installation of the buoy markers for the No Take Zone, and formed the Pokmaswas (community-based surveillance group). Prior to this behavior adoption, they don’t have any fisheries data, no group of fishers, and they have still fishing inside the No Take Zone. This is really a new behavior adoption for them. This paper will show the process and success story of the social marketing campaign to conserve marine habitat in Anambas through Pride-TURF-R program.

Keywords: behavior adoption, community participation, no take zone, pride-TURF-R

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Authors: Ajab G. Majidi, Bilal Bingölbali, Adem Akpınar

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This study aims to investigate the amount of energy (economic wave energy potential) that can be obtained from the existing wave energy converters in the high wave energy potential region of the Black Sea in terms of wave energy potential and their performance at different depths in the region. The data needed for this purpose were obtained using the calibrated nested layered SWAN wave modeling program version 41.01AB, which was forced with Climate Forecast System Reanalysis (CFSR) winds from 1979 to 2009. The wave dataset at a time interval of 2 hours was accumulated for a sub-grid domain for around Karaburun beach in Arnavutkoy, a district of Istanbul city. The annual sea state characteristic matrices for the five different depths along with a vertical line to the coastline were calculated for 31 years. According to the power matrices of different wave energy converter systems and characteristic matrices for each possible installation depth, the probability distribution tables of the specified mean wave period or wave energy period and significant wave height were calculated. Then, by using the relationship between these distribution tables, according to the present wave climate, the energy that the wave energy converter systems at each depth can produce was determined. Thus, the economically feasible potential of the relevant coastal zone was revealed, and the effect of different depths on energy converter systems is presented. The Oceantic at 50, 75 and 100 m depths and Oyster at 5 and 25 m depths presents the best performance. In the 31-year long period 1998 the most and 1989 is the least dynamic year.

Keywords: annual power production, Black Sea, efficiency, power production performance, wave energy converter

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Authors: Meisam Moghadasi, Hassan Ali Ozgoli, Foad Farhani

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In this research, firstly, a commercial gas sweetening unit with methyl-di-ethanol-amine (MDEA) solution is simulated and comprised in an integrated model in accordance with Aspen HYSYS software. For evaluation purposes, in the second step, the results of the simulation are compared with operating data gathered from South Pars Gas Complex (SPGC). According to the simulation results, the considerable energy potential contributed to the pressure difference between absorber and regenerator columns causes this energy driving force to be applied in power recovery turbine (PRT). In the last step, the amount of waste hydraulic energy is calculated, and its recovery methods are investigated.

Keywords: gas sweetening unit, simulation, MDEA, power recovery turbine, waste-to-energy

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Authors: Kim Dongwon, Yu Songjin

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This study identifies the business value of VOC (Voice of Customer) on the business. Precisely, we intend to demonstrate how much negative and positive sentiment of VOC has an influence on car sales market share in the unites states. We extract 7 emotions such as sadness, shame, anger, fear, frustration, delight and satisfaction from the VOC data, 23,204 pieces of opinions, that had been posted on car-related on-line community from 2007 to 2009(a part of data collection from 2007 to 2015), and intend to clarify the correlation between negative and positive sentimental keywords and contribution to market share. In order to develop a lexicon for each category of negative and positive sentiment, we took advantage of Corpus program, Antconc 3.4.1.w and on-line sentimental data, SentiWordNet and identified the part of speech(POS) information of words in the customers' opinion by using a part-of-speech tagging function provided by TextAnalysisOnline. For the purpose of this present study, a total of 45,741 pieces of customers' opinions of 28 car manufacturing companies had been collected including titles and status information. We conducted an experiment to examine whether the inclusion, frequency and intensity of terms with negative and positive emotions in each category affect the adoption of customer opinions for vehicle organizations' market share. In the experiment, we statistically verified that there is correlation between customer ideas containing negative and positive emotions and variation of marker share. Particularly, "Anger," a domain of negative domains, is significantly influential to car sales market share. The domain "Delight" and "Satisfaction" increased in proportion to growth of market share.

Keywords: data mining, opinion mining, sentiment analysis, VOC

Procedia PDF Downloads 197

Authors: Margarida Plana

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End-users behavior has become one of the main aspects to be solved on energy efficiency projects. Especially on the residential sector, the end-users have a direct impact that affects the achievement of energy saving’s targets. This paper is focused on presenting and quantify the impact of end-users behavior on basis of the analysis of real projects’ data. The analysis study which is the role of buiding’s occupants and how their behavior can change the success of energy efficiency projects how to limit their impact. The results obtained show two main conclusions. The first one is easiest to solve: we need to control and limit the end-users interaction with the equipment operation to be able to reach the targets fixed. The second one: as the plugged equipment are increasing exponentially on the residential sector, big efforts of disseminations are needed in order to explain to citizens the impact of their day by day actions through dissemination campaigns.

Keywords: end-users impacts, energy efficiency, energy savings, impact limitations

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Authors: Sheikh Saeed Ahmad

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Electricity is vital for any state’s development that needs policy for planning the power network extension. This study is about simulation modeling for electricity in Balochistan province. Baseline data of electricity consumption was used of year 2004 and projected with the help of LEAP model up to subsequent 30 years. Three scenarios were created to run software. One scenario was baseline and other two were alternative or green scenarios i.e. solar and wind energy scenarios. Present study revealed that Balochistan has much greater potential for solar and wind energy for electricity production. By adopting these alternative energy forms, Balochistan can save energy in future nearly 23 and 48% by incorporating solar and wind power respectively. Thus, the study suggests to government planners, an aspect of integrating renewable sources in power system for ensuring sustainable development and growth.

Keywords: demand and supply, LEAP, solar energy, wind energy, households

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Authors: Joanna Smoluk-Sikorska, Władysława Łuczka

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Organic farming is an important element of sustainable agriculture. It has been developing very dynamically in Poland, especially since Poland’s accession to the EU. Nevertheless, properly functioning organic market is a necessary condition justifying development of organic agriculture. Despite significant improvement, this market in Poland is still in the initial stage of growth. An important element of the market is distribution, especially retail, which offers specified product range to consumers. Therefore, there is a need to investigate retail outlets offering organic food in order to improve functioning of this part of the market. The inquiry research conducted in three types of outlets offering organic food, between 2011 and 2012 in the 8 largest Polish cities, shows that the majority of outlets offer cereals, processed fruit and vegetables as well as spices and the least shops – meat and sausages. The distributors mostly indicate unsatisfactory product range of suppliers as the reason for this situation. The main providers of the outlets are wholesalers, particularly in case of processed products, and in fresh products – organic farms. A very important distribution obstacle is dispersion of producers, which generates high transportation costs and what follows that, high price of organics. In the investigated shops, the most often used price calculation method is a cost method. The majority of the groceries and specialist shops apply margins between 21 and 40%. The margin in specialist outlets is the highest, in regard to the qualified service and advice. In turn, most retail networks declare the margin between 0 and 20%, which is consistent with low-price strategy applied in these shops. Some lacks in the product range of organics and in particular high prices cause that the demand volume is rather low. Therefore there is a need to support certain market actions, e.g. on-farm processing or promotion.

Keywords: organic food, retail, product range, supply sources

Procedia PDF Downloads 279

Authors: Noemia Bessa Vilela, Jose Caramelo Gomes

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All law student are familiarized, in the first years of their bachelor of laws with the concepts of “public goods” and “ private goods”; often, such legal concept does not exactly match such economic concept, and there are consequences are some sort of confusion being created. The list of goods that follow under each category is not exhaustive, nor are students given proper mechanisms to acknowledge that some legal fields can, on its own, be considered as a “public good”; this is the case of Competition. Legal authors consider that “competition law is used to promote public interest” and, as such, it is a “public good”; in economics theory, Competition is the first public good in a market economy, as the enabler of allocation efficiency. Competition law is the legal tool to support the proper functioning of the market economy and democracy itself. It is fact that Competition Law only applies to economic activities, still, competition is object of private litigation as an integral part of Public Law. Still, regardless of the importance of Competition Law in the economic activity and market regulation, most student complete their studies in law, join the Bar Associations and engage in their professional activities never having been given sufficient tools to deal with the increasing demands of a globalized world. The lack of knowledge of economics, market functioning and the mechanisms at their reach in order to ensure proper realization of their duties as lawyers/ attorneys-at-law would be tackled if Competition Law would be included as part of the curricula of Law Schools. Proper teaching of Competition Law would combine the foundations of Competition Law, doctrine, case solving and Case Law study. Students should to understand and apply the analytical model. Special emphasis should be given to EU Competition Law, namely the TFEU Articles 101 to 106. Damages Directive should also be part of the curriculum. Students must in the first place acquire and master the economic rationale as competition and the world of competition law are the cornerstone of sound and efficient market. The teaching of Competition Law in undergraduate programs in Law would contribute to fulfill the potential of the students who will deal with matters related to consumer protection, economic and commercial law issues both in private practice and as in-house lawyers for companies.

Keywords: higher education, competition law, legal education, law, market economy, industrial economics

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Authors: Liang Zhao, Jili Zhang, Chongquan Zhong

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Energy consumption data, in particular those involving public buildings, are impacted by many factors: the building structure, climate/environmental parameters, construction, system operating condition, and user behavior patterns. Traditional methods for data analysis are insufficient. This paper delves into the data mining technology to determine its application in the analysis of building energy consumption data including energy consumption prediction, fault diagnosis, and optimal operation. Recent literature are reviewed and summarized, the problems faced by data mining technology in the area of energy consumption data analysis are enumerated, and research points for future studies are given.

Keywords: data mining, data analysis, prediction, optimization, building operational performance

Procedia PDF Downloads 833

Authors: R. G. Ariyawansa, M. A. N. R. M. Perera

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“House” is a powerful symbol of socio-economic background of individuals and families. In fact, housing provides all types of needs/wants from basic needs to self-actualization needs. This phenomenon can be realized only having analyzed hidden motives of buyers and sellers of the housing market. Hence, the aim of this study is to examine the socio-economic insight of the secondary housing market in Colombo suburbs. This broader aim was achieved via analyzing the general pattern of the secondary housing market, identifying socio-economic motives of sellers of the secondary housing market, and reviewing sellers’ experience of buyer behavior. A purposive sample of 50 sellers from popular residential areas in Colombo such as Maharagama, Kottawa, Piliyandala, Punnipitiya, and Nugegoda was used to collect primary data instead of relevant secondary data from published and unpublished reports. The sample was limited to selling price ranging from Rs15 million to Rs25 million, which apparently falls into middle and upper-middle income houses in the context. Participatory observation and semi-structured interviews were adopted as key data collection tools. Data were descriptively analyzed. This study found that the market is mainly handled by informal agents who are unqualified and unorganized. People such as taxi/tree-wheel drivers, boutique venders, security personals etc. are engaged in housing brokerage as a part time career. Few fulltime and formally organized agents were found but they were also not professionally qualified. As far as housing quality is concerned, it was observed that 90% of houses was poorly maintained and illegally modified. They are situated in poorly maintained neighborhoods as well. Among the observed houses, 2% was moderately maintained and 8% was well maintained and modified. Major socio-economic motives of sellers were “migrating foreign countries for education and employment” (80% and 10% respectively), “family problems” (4%), and “social status” (3%). Other motives were “health” and “environmental/neighborhood problems” (3%). This study further noted that the secondary middle income housing market in the area directly related with the migrants who motivated for education in foreign countries, mainly Australia, UK and USA. As per the literature, families motivated for education tend to migrate Colombo suburbs from remote areas of the country. They are seeking temporary accommodation in lower middle income housing. However, the secondary middle income housing market relates with the migration from Colombo to major global cities. Therefore, final transaction price of this market may depend on migration related dates such as university deadlines, visa and other agreements. Hence, it creates a buyers’ market lowering the selling price. Also it was revealed that the buyers tend to trust more on this market as far as the quality of construction of houses is concerned than brand new houses which are built for selling purpose.

Keywords: informal housing market, hidden motives of buyers and sellers, secondary housing market, socio-economic insight

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Authors: Nino Damenia

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The agricultural sector plays an important role in the development of Georgia's economy, it contributes to employment and food security. It faces various types of risks that may lead to heavy financial losses. Agricultural insurance is one of the means of combating agricultural risks. The paper discusses the agricultural insurance experience of those countries (European countries and the USA) that have successfully implemented the agricultural insurance program. Analysis of international cases shows that a well-designed and implemented agri-insurance system can bring significant benefits to farmers, insurance companies and the economy as a whole. In the background of all this, the Government of Georgia recognized the importance of agro-insurance and took important steps for its development. In 2014, in cooperation with insurance companies, an agro-insurance program was introduced, the purpose of which is to increase the availability of insurance for farmers and stimulate the agro-insurance market. Despite such a step forward, challenges remain such as awareness of farmers, insufficient infrastructure for data collection and risk assessment, involvement of insurance companies and other important factors. With the support of the government and stakeholders, it is possible to overcome the existing challenges and establish a strong and effective agro-insurance system. Objectives. The purpose of the research is to analyze the development trends of the agricultural insurance market, to identify the main factors affecting its growth, and to further develop recommendations for development prospects for Georgia. Methodologies. The research uses mixed methods, which combine qualitative and quantitative research techniques. The qualitative method includes the study of the literature of Georgian and foreign economists, which allows us to get acquainted with the challenges, opportunities, legislative and regulatory frameworks of agricultural insurance. Quantitative analysis involves collecting data from stakeholders and then analyzing it. The paper also uses the methods of synthesis, comparison and statistical analysis of the agricultural insurance market in Georgia, Europe and the USA. Conclusions. As the main results of the research, we can consider that the analysis of the insurance market has been made and its main functions have been identified; The essence, features and functions of agricultural insurance are analyzed; European and US agricultural insurance market is researched; The stages of formation and development of the agricultural insurance market of Georgia are studied, its importance for the agricultural sector of Georgia is determined; The role of the state for the development of agro-insurance is analyzed and development prospects are established based on the study of the current trends of the agro-insurance market of Georgia.

Keywords: agricultural insurance, agriculture, agricultural insurance program, risk

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Authors: Sima Aznavi, Poria Fajri, Hanif Livani

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Smart homes are small energy systems which may be equipped with renewable energy sources, storage devices, and loads. Energy management strategy plays a main role in the efficient operation of smart homes. Effective energy scheduling of the renewable energy sources and storage devices guarantees efficient energy management in households while reducing the energy imports from the grid. Nevertheless, despite such strategies, independently day ahead energy schedules for multiple households can cause undesired effects such as high power exchange with the grid at certain times of the day. Therefore, the interactions between multiple smart home day ahead energy projections is a challenging issue in a smart grid system and if not managed appropriately, the imported energy from the power network can impose additional burden on the distribution grid. In this paper, a central energy management strategy for a network consisting of multiple households each equipped with renewable energy sources, storage devices, and Plug-in Electric Vehicles (PEV) is proposed. The decision-making strategy alongside the smart home energy management system, minimizes the energy purchase cost of the end users, while at the same time reducing the stress on the utility grid. In this approach, the smart home energy management system determines different operating scenarios based on the forecasted household daily load and the components connected to the household with the objective of minimizing the end user overall cost. Then, selected projections for each household that are within the same cost range are sent to the central decision-making system. The central controller then organizes the schedules to reduce the overall peak to average ratio of the total imported energy from the grid. To validate this approach simulations are carried out for a network of five smart homes with different load requirements and the results confirm that by applying the proposed central energy management strategy, the overall power demand from the grid can be significantly flattened. This is an effective approach to alleviate the stress on the network by distributing its energy to a network of multiple households over a 24- hour period.

Keywords: energy management, renewable energy sources, smart grid, smart home

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Authors: Norm Josephy, Lucy Kimball, Victoria Steblovskaya

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Hedging of a portfolio of European options under proportional transaction costs is considered. Our discrete time financial market model extends the binomial market model with transaction costs to the case where the underlying stock price ratios are distributed over a bounded interval rather than over a two-point set. An optimal hedging strategy is chosen from a set of admissible non-self-financing hedging strategies. Our approach to optimal hedging of a portfolio of options is based on theoretical foundation that includes determination of a no-arbitrage option price interval as well as on properties of the non-self-financing strategies and their residuals. A computational algorithm for optimizing an investor relevant criterion over the set of admissible non-self-financing hedging strategies is developed. Applicability of our approach is demonstrated using both simulated data and real market data.

Keywords: extended binomial model, non-self-financing hedging, optimization, proportional transaction costs

Procedia PDF Downloads 239

Authors: Meriam Khelifa

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In recent years, many studies have focused on the harvesting of the vibrations energy to produce electrical energy using contact separation (CS) triboelectric nanogenerators (TENG). The simplest design for a TENG consists of a capacitor comprising a single moving electrode. The conversion efficiency of vibration energy into electrical energy can, in principle, reach 100%. But to actually achieve this objective, it is necessary to optimize the parameters of the TENG, such as the dielectric constant and the thickness of the insulator, the load resistance, etc. In particular, the use of a switch which is actioned at optimal times within the TENG cycle is essential. Using numerical modeling and experimental design, we applied a methodology to find the TENG parameters which optimize the energy transfer efficiency (ETE) to almost 100% for any vibration frequency and amplitude. The rather simple design of a TENG is promising as an environment friendly device. It opens the doors for harvesting acoustic vibrations from the environment and to design effective protection against environmental noise.

Keywords: vibrations, CS TENG, efficiency, design of experiments

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Authors: Kamalpreet Kaur, Harjit Pal Singh, Vikas Khullar

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In Wireless Sensor Network (WSN), the main limitation is generally inimitable energy consumption during processing of the sensor nodes. Cluster head (CH) election is one of the main issues that can reduce the energy consumption. Therefore, discovering energy saving routing protocol is the focused area for research. In this paper, fuzzy-based energy aware routing protocol is presented, which enhances the stability and network lifetime of the network. Fuzzy logic ensures the well-organized selection of CH by taking four linguistic variables that are concentration, energy, centrality, and distance to base station (BS). The results show that the proposed protocol shows better results in requisites of stability and throughput of the network.

Keywords: ERA, fuzzy logic, network model, WSN

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Authors: Roberto Pili, Alessandro Romagnoli, Hartmut Spliethoff, Christoph Wieland

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Internal combustion engines (ICE) are today the most common energy system to drive vehicles and transportation systems. Numerous studies state that 50-60% of the fuel energy content is lost to the ambient as sensible heat. ORC offers a valuable alternative to recover such waste heat from ICE, leading to fuel energy savings and reduced emissions. In contrast, the additional weight of the ORC affects the net energy balance of the overall system and the ORC occupies additional volume that competes with vehicle transportation capacity. Consequently, a lower income from delivered freight or passenger tickets can be achieved. The economic feasibility of integrating an ORC into an ICE and the resulting economic impact of weight and volume have not been analyzed in open literature yet. This work intends to define such a benchmark for ORC applications in the transportation sector and investigates the current situation on the market. The applied methodology refers to the freight market, but it can be extended to passenger transportation as well. The economic parameter X is defined as the ratio between the variation of the freight revenues and the variation of fuel costs when an ORC is installed as a bottoming cycle for an ICE with respect to a reference case without ORC. A good economic situation is obtained when the reduction in fuel costs is higher than the reduction of revenues for the delivered freight, i.e. X<1. Through this constraint, a maximum allowable change of transport capacity for a given relative reduction in fuel consumption is determined. The specific fuel consumption is influenced by the ORC in two ways. Firstly because the transportable freight is reduced and secondly because the total weight of the vehicle is increased. Note, that the generated electricity of the ORC influences the size of the ICE and the fuel consumption as well. Taking the above dependencies into account, the limiting condition X = 1 results in a second order equation for the relative change in transported cargo. The described procedure is carried out for a typical city bus, a truck of 24-40 t of payload capacity, a middle-size freight train (1000 t), an inland water vessel (Va RoRo, 2500 t) and handysize-like vessel (25000 t). The maximum allowable mass and volume of the ORC are calculated in dependence of its efficiency in order to satisfy X < 1. Subsequently, these values are compared with weight and volume of commercial ORC products. For ships of any size, the situation appears already highly favorable. A different result is obtained for road and rail vehicles. For trains, the mass and the volume of common ORC products have to be reduced at least by 50%. For trucks and buses, the situation looks even worse. The findings of the present study show a theoretical and practical approach for the economic application of ORC in the transportation sector. In future works, the potential for volume and mass reduction of the ORC will be addressed, together with the integration of an economic assessment for the ORC.

Keywords: ORC, transportation, volume, weight

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Authors: Md Kamruzzaman, Lyazid Djenidi, R. A. Antonia

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This paper reports an experimental investigation of the energy spectrum of turbulent velocity fields at low Reynolds numbers ( Rλ ) in grid turbulence. Hot wire measurements are carried out in grid turbulence with subjected to a 1.36:1 contraction of the wind tunnel. Three different grids are used: (i) large square perforated grid (mesh size 43.75 mm), (ii) small square perforated grid (mesh size 14 and (iii) woven mesh grid (mesh size 5mm). The results indicate that the energy spectrum at small Rλ does not follow Kolmogorov’s universal scaling. It is further found that the critical Reynolds number,Rλ,ϲ below which the scaling breaks down is around 25.

Keywords: energy spectrum, Taylor microscale, Reynolds number, turbulent kinetic energy, decay exponent

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Authors: Rahul Ravindranathan, R. P. Gokul

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India, in its efforts towards economic and social development, is currently experiencing a heavy demand for energy. Due to the lack of sufficient domestic energy reserves, the country is highly dependent on energy imports which has increased rapidly at a rate of about 12 % per annum since 2005. Hence, India is currently focusing its efforts to manage this energy supply and demand gap and eventually achieve energy security. One of the most cost effective means to reduce this gap is by adopting Energy efficiency measures in the country. Initial assessments have shown that Energy efficiency measures have an energy conservation potential of about 23%. For an estimated investment potential of USD 8 Billion, the annual energy savings was estimated to be about 180 Billion Units per annum. In order to explore this huge energy conservation potential, many critical factors need to be considered to achieve practical energy savings. Financing options for these investments is one such major factor. Not only has India come out with various policy level as well as technology level drives to promote Energy efficiency but it has also developed various financing schemes to promote investment in Energy Efficiency projects. The Public sector has already come out with certain financing schemes such as the Partial Risk Guarantee Fund (PRGF), Venture Capital Fund (VCF), Partial Risk Sharing Fund (PRSF) etc., and various sectors are gradually utilizing these schemes to implement energy saving measures. However, additional financing options are required in order to explore the untouched energy conservation potential in the country. Hence, there is a need to develop some innovative financing options for India which would motivate the private sectors as well as financing institutions to invest in these energy saving measures. This paper shall review the existing financing schemes launched by the Government of India and highlight the key benefits as well as challenges with respect to these schemes. In addition to this, the paper would also review new and innovative financing schemes for India and how the same could be adopted in other parts of the globe especially in South and South East Asia. This review would provide an insight to the various Governments as well as Financial Institutions in coming out with new financing schemes for their country.

Keywords: energy, efficiency, financing, India

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Authors: Mokhtar Nikgoo

Abstract:

Definition of dam: A dam is one of the most important and widely used engineering structures, which means stopping or changing the course of water on a river. A lake is formed behind the dam, which is called (reservoir). Water is stored in the tank to be used when needed. The dam building industry is a great service to mankind in the use of water and land resources. If they build the dam in a suitable place, they will prevent floods. The water that collects behind the dam and in the dam's lake and reservoir is a valuable reserve for drinking by people and animals. Dry agricultural lands are also irrigated with this water. In addition, in many dams, the pressure caused by the water fall is directed by turbines, and the turbines move the power generation devices and provide power from electricity

Keywords: dam, shaft, gallery, spillway, power plant

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Authors: Ichihan Tai, Bill Olson, Paul Blessner

Abstract:

Traditional early warning systems that alarm against crisis are generally based on structured or numerical data; therefore, a system that can make predictions based on unstructured textual data, an uncorrelated data source, is a great complement to the traditional early warning systems. The Chicago Board Options Exchange (CBOE) Volatility Index (VIX), commonly referred to as the fear index, measures the cost of insurance against market crash, and spikes in the event of crisis. In this study, news data is consumed for prediction of whether there will be a market-wide crisis by predicting the movement of the fear index, and the historical references to similar events are presented in an unsupervised manner. Topic modeling-based prediction and representation are made based on daily news data between 1990 and 2015 from The Wall Street Journal against VIX index data from CBOE.

Keywords: early warning system, knowledge management, market prediction, topic modeling.

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Authors: M. A. Mulatu, L. C. Chang, Y. S. Han

Abstract:

Energy harvesting tags with cooperative communication capabilities are emerging as possible infrastructure for internet of things (IoT) applications. This paper studies about the \ cooperative transmission strategy for a network of energy harvesting active networked tags (EnHANTs), that is adapted to the available energy resource and identification request. We consider a network of EnHANT-equipped objects to communicate with the destination either directly or by cooperating with neighboring objects. We formulate the the problem as a Markov decision process (MDP) under synchronised On/Off keying (S-OOK) pulse modulation format. The simulation results are provided to show the the performance of the cooperative transmission policy and compared against the greedy and conservative policies of single-link transmission.

Keywords: cooperative communication, transmission strategy, energy harvesting, Markov decision process, value iteration

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Authors: Aleksandr A. Gajour, Vladimir G. Merzlikin, Vladimir I. Veselov

Abstract:

This paper refers to the analysis of the characteristics of industrial and lifestyle facilities heat- energy objects as a part of the thermal envelope of Earth's surface for inclusion in any database of economic forecasting. The idealized model of the Earth's surface is discussed. This model gives the opportunity to obtain the energy equivalent for each element of terrain and world ocean. Energy efficiency criterion of comfortable human existence is introduced. Dynamics of changes of this criterion offers the possibility to simulate the possible technogenic catastrophes with the spontaneous industrial development of the certain Earth areas. Calculated model with the confirmed forecast of the Gulf Stream freezing in the polar regions in 2011 due to the heat-energy balance disturbance for the oceanic subsurface oil polluted layer is given. Two opposing trends of human development under limited and unlimited amount of heat-energy resources are analyzed.

Keywords: Earth's surface, heat-energy consumption, energy criteria, technogenic catastrophes

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Authors: Elnur Abbasov

Abstract:

Energy security and climate change comprise some of the most important concerns facing humankind today and probably in the future if they are not addressed appropriately. In order to stabilize the global climate, there is the need for the world to lessen its use of fossil energy, which requires enhancement of current energy efficiency as well as the development of novel energy sources, such as energy obtained from renewable sources. There is no doubt that the steady transition towards a solar-based economy is likely to result in the development of completely new sectors, behaviours, and jobs that are pro-environmental. Azerbaijan Republic as the largest nation state in the South Caucasus Region has the potential for using and developing the renewable sources of energy in order to support the environmental challenge resolution associated with the climate change, improving the environmental situation in the country. Solar PV comprises one of the direct usages of solar energy. In this paper, sustainable PV usage scenario in residential houses was introduced to reduce negative environmental effects of land use, water consumption, air pollution etc. It was recommended by an author that, PV systems can be part of function and design of residential building components: such as roofs, walls, windows.

Keywords: energy efficiency, environmentally friendly, photovoltaic engineering, sustainable energy usage scenario

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