Search results for: domestic electricity
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 2222

Search results for: domestic electricity

602 Mechanical Activation of a Waste Material Used as Cement Replacement in Soft Soil Stabilisation

Authors: Hassnen M. Jafer, W. Atherton, F. Ruddock, E. Loffil

Abstract:

Waste materials or sometimes called by-product materials have been increasingly used as construction material to reduce the usage of cement in different construction projects. In the field of soil stabilisation, waste materials such as pulverised fuel ash (PFA), biomass fly ash (BFA), sewage sludge ash (SSA), etc., have been used since 1960s in last century. In this study, a particular type of a waste material (WM) was used in soft soil stabilisation as a cement replacement, as well as, the effect of mechanical activation, using grinding, on the performance of this WM was also investigated. The WM used in this study is a by-product resulted from the incineration processes between 1000 and 1200oc in domestic power generation plant using a fluidized bed combustion system. The stabilised soil in this study was an intermediate plasticity silty clayey soil with medium organic matter content. The experimental works were conducted first to find the optimum content of WM by carrying out Atterberg limits and unconfined compressive strength (UCS) tests on soil samples contained (0, 3, 6, 9, 12, and 15%) of WM by the dry weight of soil. The UCS test was carried out on specimens provided to different curing periods (zero, 7, 14, and 28 days). Moreover, the optimum percentage of the WM was subject to different periods of grinding (10, 20, 30, 40mins) using mortar and pestle grinder to find the effect of grinding and its optimum time by conducting UCS test. The results indicated that the WM used in this study improved the physical properties of the soft soil where the index of plasticity (IP) was decreased significantly from 21 to 13.10 with 15% of WM. Meanwhile, the results of UCS test indicated that 12% of WM was the optimum and this percentage developed the UCS value from 202kPa to 700kPa for 28 days cured samples. Along with the time of grinding, the results revealed that 10 minutes of grinding was the best for mechanical activation for the WM used in this study.

Keywords: soft soil stabilisation, waste materials, grinding, and unconfined compressive strength

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601 Harvesting Energy from Lightning Strikes

Authors: Vaishakh Medikeri

Abstract:

Lightning, the marvelous, spectacular and the awesome truth of nature is one of the greatest energy sources left unharnessed since ages. A single lightning bolt of lightning contains energy of about 15 billion joules. This huge amount of energy cannot be harnessed completely but partially. This paper proposes to harness the energy from lightning strikes. Throughout the globe the frequency of lightning is 40-50 flashes per second, totally 1.4 billion flashes per year; all of these flashes carrying an average energy of about 15 billion joules each. When a lightning bolt strikes the ground, tremendous amounts of energy is transferred to earth which propagates in the form of concentric circular energy waves. These waves have a frequency of about 7.83Hz. Harvesting the lightning bolt directly seems impossible, but harvesting the energy waves produced by the lightning is pretty easier. This can be done using a tricoil energy harnesser which is a new device which I have invented. We know that lightning bolt seeks the path which has minimum resistance down to the earth. For this we can make a lightning rod about 100 meters high. Now the lightning rod is attached to the tricoil energy harnesser. The tricoil energy harnesser contains three coils whose centers are collinear and all the coils are parallel to the ground. The first coil has one of its ends connected to the lightning rod and the other end grounded. There is a secondary coil wound on the first coil with one of its end grounded and the other end pointing to the ground and left unconnected and placed a little bit above the ground so that this end of the coil produces more intense currents, hence producing intense energy waves. The first coil produces very high magnetic fields and induces them in the second and third coils. Along with the magnetic fields induced by the first coil, the energy waves which are currents also flow through the second and the third coils. The second and the third coils are connected to a generator which in turn is connected to a capacitor which stores the electrical energy. The first coil is placed in the middle of the second and the third coil. The stored energy can be used for transmission of electricity. This new technique of harnessing the lightning strikes would be most efficient in places with more probability of the lightning strikes. Since we are using a lightning rod sufficiently long, the probability of cloud to ground strikes is increased. If the proposed apparatus is implemented, it would be a great source of pure and clean energy.

Keywords: generator, lightning rod, tricoil energy harnesser, harvesting energy

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600 Vulnerability Assessment of Healthcare Interdependent Critical Infrastructure Coloured Petri Net Model

Authors: N. Nivedita, S. Durbha

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Critical Infrastructure (CI) consists of services and technological networks such as healthcare, transport, water supply, electricity supply, information technology etc. These systems are necessary for the well-being and to maintain effective functioning of society. Critical Infrastructures can be represented as nodes in a network where they are connected through a set of links depicting the logical relationship among them; these nodes are interdependent on each other and interact with each at other at various levels, such that the state of each infrastructure influences or is correlated to the state of another. Disruption in the service of one infrastructure nodes of the network during a disaster would lead to cascading and escalating disruptions across other infrastructures nodes in the network. The operation of Healthcare Infrastructure is one such Critical Infrastructure that depends upon a complex interdependent network of other Critical Infrastructure, and during disasters it is very vital for the Healthcare Infrastructure to be protected, accessible and prepared for a mass casualty. To reduce the consequences of a disaster on the Critical Infrastructure and to ensure a resilient Critical Health Infrastructure network, knowledge, understanding, modeling, and analyzing the inter-dependencies between the infrastructures is required. The paper would present inter-dependencies related to Healthcare Critical Infrastructure based on Hierarchical Coloured Petri Nets modeling approach, given a flood scenario as the disaster which would disrupt the infrastructure nodes. The model properties are being analyzed for the various state changes which occur when there is a disruption or damage to any of the Critical Infrastructure. The failure probabilities for the failure risk of interconnected systems are calculated by deriving a reachability graph, which is later mapped to a Markov chain. By analytically solving and analyzing the Markov chain, the overall vulnerability of the Healthcare CI HCPN model is demonstrated. The entire model would be integrated with Geographic information-based decision support system to visualize the dynamic behavior of the interdependency of the Healthcare and related CI network in a geographically based environment.

Keywords: critical infrastructure interdependency, hierarchical coloured petrinet, healthcare critical infrastructure, Petri Nets, Markov chain

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599 The Development of Solar Cells to Maximize the Utilization of Solar Energy in Al-Baha Area

Authors: Mohammed Ahmed Alghamdi, Hazem Mahmoud Ali Darwish, Mostafa Mohamed Abdelraheem

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Transparent conducting oxides (TCOs) possess low resistivity, exhibit good adherence to many substrates, and have good transmission characteristics from the visible to near-infrared wavelengths, which make it useful for various applications. Thin films of transparent conducting oxide (TCO’s) have received much attention because of their wide applications in the field of optoelectronic devices. Advancement of transparent conducting oxides TCO’s may not only lie within the improvement of existing materials in use, but also the development of novel materials. Solar cells are devices, which convert solar energy into electricity, either directly via the photovoltaic effect, or indirectly by first converting the solar energy to heat or chemical energy. Solar power has attracted attention of late as the most advanced of the alternative energy resources. The project aims to access the solar energy in Al-Baha region by search for materials (transparent-conductive oxides (TCO's)) to use in solar cells with highly transparent to the solar spectrum, have low electrical resistivity, be stable under H-plasma, and have a suitable structure in particular for a-Si solar cells. As the PV surface is exposed to the sunlight, the module temperature increases. High ambient temperatures along with long sunlight exposure time increases the temperature impact on PV cells efficiency. Since Al-Baha area is characterized by an atmosphere and pressure different from their counterparts in Saudi Arabia due to the height above sea level, hence it is appropriate to do studies to improve the efficiency of solar cells under these conditions. In this work, some ion change materials will be deposited using either sputtering/ or electron beam evaporation techniques. The optical properties of the synthesized materials will be studied in details for solar cell application. As we will study the effect of some dyes on the optical properties of the prepared films. The efficiency and other parameters of solar cell will be determined.

Keywords: thin films, solar cell, optical properties, electrical properties

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598 Microalgae Bacteria Granules, an Alternative Technology to the Conventional Wastewater Treatment: Structural and Metabolic Characterization

Authors: M. Nita-Lazar, E. Manea, C. Bumbac, A. Banciu, C. Stoica

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The population and economic growth have generated a significant new number of pollutant compounds which have to be degraded before reaching the environment. The wastewater treatment plants (WWTPs) have been the last barrier between the domestic and/or industrial wastewaters and the environment. At present, the conventional WWTPs have very high operational costs, most of them linked to the aeration process (60-65% from total energy costs related to wastewater treatment). In addition, they have had a low efficiency in pollutants removal such as pharmaceutical and other resilient anthropogenic compounds. In our study, we have been focused on new wastewater treatment strategies to enhance the efficiency of pollutants removal and decrease the wastewater treatment operational costs. The usage of mixed microalgae-bacteria granules technology generated high efficiency and low costs by a better harvesting and less expensive aeration. The intertrophic relationships between microalgae and bacteria have been characterized by the structure of the population community to their metabolic relationships. The results, obtained by microscopic studies, showed well-organized and stratified microalgae-bacteria granules where bacteria have been enveloped in the microalgal structures. Moreover, their population community structure has been modulated as well as their nitrification, denitrification processes (analysis based on qPCR genes expression) by the type of the pollutant compounds and amounts. In conclusion, the understanding and modulation of intertrophic relationships between microalgae and bacteria could be an economical and technological viable alternative to the conventional wastewater treatment. Acknowledgements: This research was supported by grant PN-III-P4-ID-PCE-2016-0865 from the Romanian National Authority for Scientific Research and Innovation CNCS/CCCDI-UEFISCDI.

Keywords: activated sludge, bacteria, granules, microalgae

Procedia PDF Downloads 105
597 Experimental Analyses of Thermoelectric Generator Behavior Using Two Types of Thermoelectric Modules for Marine Application

Authors: A. Nour Eddine, D. Chalet, L. Aixala, P. Chessé, X. Faure, N. Hatat

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Thermal power technology such as the TEG (Thermo-Electric Generator) arouses significant attention worldwide for waste heat recovery. Despite the potential benefits of marine application due to the permanent heat sink from sea water, no significant studies on this application were to be found. In this study, a test rig has been designed and built to test the performance of the TEG on engine operating points. The TEG device is built from commercially available materials for the sake of possible economical application. Two types of commercial TEM (thermo electric module) have been studied separately on the test rig. The engine data were extracted from a commercial Diesel engine since it shares the same principle in terms of engine efficiency and exhaust with the marine Diesel engine. An open circuit water cooling system is used to replicate the sea water cold source. The characterization tests showed that the silicium-germanium alloys TEM proved a remarkable reliability on all engine operating points, with no significant deterioration of performance even under sever variation in the hot source conditions. The performance of the bismuth-telluride alloys was 100% better than the first type of TEM but it showed a deterioration in power generation when the air temperature exceeds 300 °C. The temperature distribution on the heat exchange surfaces revealed no useful combination of these two types of TEM with this tube length, since the surface temperature difference between both ends is no more than 10 °C. This study exposed the perspective of use of TEG technology for marine engine exhaust heat recovery. Although the results suggested non-sufficient power generation from the low cost commercial TEM used, it provides valuable information about TEG device optimization, including the design of heat exchanger and the types of thermo-electric materials.

Keywords: internal combustion engine application, Seebeck, thermo-electricity, waste heat recovery

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596 International Trade and Regional Inequality in South America: A Study Applied to Brazil and Argentina

Authors: Mónica Arroyo

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South America shows increasing decline in regional export values in the last years, after a strong growth of trade flows especially with China up to 2013. This change is due to the end of the commodity price boom, the slowing of the Chinese economy and the effects of the 2008 economic crisis. This paper examines the integration of regional economies in this context, particularly the situation in Brazil and Argentina. Based on transformations over the last two decades, the analysis is focused on the spatial circuits of production linked to foreign markets, contributing to the understanding of the different uses of territory and the within-country inequality. The South American regional exports, consisting basically of raw materials, are concentrated in a few companies. Large areas are intended for the production of agriculture and mining commodities, under the command of major economic groups, both domestic and foreign, relegating the local population to less productive places or, in most cases, forcing them to change their activity and to migrate to other regions in search of some source of income. On the other hand, the dynamics of these commodities’ spatial circuits of production print requirements in territories in terms of infrastructure and regulation. Capturing this movement requires understanding businesses and government’s role in territorial regulation, and consequently how regional systems are changing – for instance, economic specialisation, growing role of services, investment in roads, railways, ports, and airports. This paper aims to highlight topics for discussion on regional economic dynamics and their different degrees of internationalisation. The intention is to contribute to the debate about the relations between trade, globalization, and development.

Keywords: regional inequality, international trade, developing world, South America

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595 Fungal Flocculation of Single Algae Species and Mixed Algal Communities

Authors: Digby Wrede, Stephen Gray, Syed Hussainy

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Microalgae are extremely useful organisms but notoriously hard to harvest. The use of fungal pellets has been found to be an efficient way to flocculate numerous species of algae. However, only the flocculation of single species of algae has been investigated. Algae are generally found in complex communities in the environment comprising of numerous species of algae ranging from simple single cell algae such as Chlorella to more complex or communal algae such as Dictyosphaerium. This study investigated the flocculation capabilities of Aspergillus oryzae to flocculate four species of algae; Chlorella vulgaris, Scenedesmus quadricauda, Scenedesmus acuminatus and Dictyosphaerium sp., and the algal communities in four different types of domestic effluent from a lagoon-based treatment plant; primary effluent, secondary effluent and the high rate algal pond effluent at a natural and at a lowered pH level. Spectrophotometry was used to measure the changes in algal population. C. vulgaris, S. acuminatus and S. quadricauda, had over 90% reduction of algal in suspension after 24 hours. Dictyosphaerium sp. showed a little to no removal after 24 hours. The primary, secondary, and natural pH level HRAP had roughly a 50% removal after 24 hours, the HRAP which was grown at a lower pH level had over a 90% removal after 24 hours. pH has been shown previously to affect fungal flocculation. Fungal and algae pellets have been shown to be able to treat wastewater and can be converted to biofuels in a very similar method to how algae are currently converted. The mixture of both fungi and algae has also been shown to provide a higher yield of oils then separately and are able to more efficiently treat wastewater then algae or fungi by themselves.

Keywords: algae harvesting, Aspergillus oryzae, fungal flocculation, wastewater treatment

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594 Sun-Driven Evaporation Enhanced Forward Osmosis Process for Application in Wastewater Treatment and Pure Water Regeneration

Authors: Dina Magdy Abdo, Ayat N. El-Shazly, Hamdy Maamoun Abdel-Ghafar, E. A. Abdel-Aal

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Forward osmosis (FO) is one of the important processes during the wastewater treatment system for environmental remediation and fresh water regeneration. Both Egypt and China are troubled by over millions of tons of wastewater every year, including domestic and industrial wastewater. However, traditional FO process in wastewater treatment usually suffers low efficiency and high energy consumption because of the continuously diluted draw solution. An additional concentration process is necessary to keep running of FO separation, causing energy waste. Based on the previous study on photothermal membrane, a sun-driven evaporation process is integrated into the draw solution side of FO system. During the sun-driven evaporation, not only the draw solution can be concentrated to maintain a stable and sustainable FO system, but fresh water can be directly separated for regeneration. Solar energy is the ultimate energy source of everything we have on Earth and is, without any doubt, the most renewable and sustainable energy source available to us. Additionally, the FO membrane process is rationally designed to limit the concentration polarization and fouling. The FO membrane’s structure and surface property will be further optimized by the adjustment of the doping ratio of controllable nano-materials, membrane formation conditions, and selection of functional groups. A novel kind of nano-composite functional separation membrane with bi-interception layers and high hydrophilicity will be developed for the application in wastewater treatment. So, herein we aim to design a new wastewater treatment system include forward osmosis with high-efficiency energy recovery via the integration of photothermal membrane.

Keywords: forword, membrane, solar, water treatment

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593 Combined Use of Microbial Consortia for the Enhanced Degradation of Type-IIx Pyrethroids

Authors: Parminder Kaur, Chandrajit B. Majumder

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The unrestrained usage of pesticides to meet the burgeoning demand of enhanced crop productivity has led to the serious contamination of both terrestrial and aquatic ecosystem. The remediation of mixture of pesticides is a challenging affair regarding inadvertent mixture of pesticides from agricultural lands treated with various compounds. Global concerns about the excessive use of pesticides have driven the need to develop more effective and safer alternatives for their remediation. We focused our work on the microbial degradation of a mixture of three Type II-pyrethroids, namely Cypermethrin, Cyhalothrin and Deltamethrin commonly applied for both agricultural and domestic purposes. The fungal strains (Fusarium strain 8-11P and Fusarium sp. zzz1124) had previously been isolated from agricultural soils and their ability to biotransform this amalgam was studied. In brief, the experiment was conducted in two growth systems (added carbon and carbon-free) enriched with variable concentrations of pyrethroids between 100 to 300 mgL⁻¹. Parameter optimization (pH, temperature, concentration and time) was done using a central composite design matrix of Response Surface Methodology (RSM). At concentrations below 200 mgL⁻¹, complete removal was observed; however, degradation of 95.6%/97.4 and 92.27%/95.65% (in carbon-free/added carbon) was observed for 250 and 300 mgL⁻¹ respectively. The consortium has been shown to degrade the pyrethroid mixture (300 mg L⁻¹) within 120 h. After 5 day incubation, the residual pyrethroids concentration in unsterilized soil were much lower than in sterilized soil, indicating that microbial degradation predominates in pyrethroids elimination with the half-life (t₁/₂) of 1.6 d and R² ranging from 0.992-0.999. Overall, these results showed that microbial consortia might be more efficient than single degrader strains. The findings will complement our current understanding of the bioremediation of mixture of Type II pyrethroids with microbial consortia and potentially heighten the importance for considering bioremediation as an effective alternative for the remediation of such pollutants.

Keywords: bioremediation, fungi, pyrethroids, soil

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592 Assessment of Heavy Metal Bioaccumulation by Tissues of Ipomoea Batatas and Manihot Esculenta Irrigated with Water from Muhammad Ayuba Dam, Kazaure, Jigawa State, Nigeria

Authors: Sa’idu A. Abdullah, Jafar Lawan, A. U. Adamu, Fowotade, S. A., Hamisu Abdu

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Scarcity of quality water in many communities compels inhabitants to use any available water resources for domestic, recreational, industrial and agricultural purposes. Global concern on the potential health hazards of anthropogenic inputs into our ecosystems imposes the need for constant monitoring of levels of pollutants in order to ensure compliance with internationally acceptable criteria. In this research, assessment of bioaccumulation of Cd, Co, Cu, Pb and Zn was carried out using tissues of Ipomoea batatas (sweet potato) and Manihot esculenta (cassava) irrigated with water from Muhammad Ayuba Dam in Kazaure, Jigawa State. The metal concentrations were determined using Flame Atomic Absorption Spectrophotometer (FAAS). The result of the analysis revealed the presence of the metals in varying concentrations. Cd and Co showed higher concentrations in the tubers of Manihot esculenta but all the other investigated metals were more concentrated in the leaves of the plant. Cd and Cu on the other hand showed higher concentration in the root of Ipomoea batatas while the remaining investigated metals were concentrated more in the leaves of the plant. The result of analysis of water samples from five sampling stations in the Dam showed the presence of the metals as follows: Cd, (0.063±0.02 mg/L), Co (0.086±0.03 mg/L), Cu (0.167±0.08 mg/L), Pb (0.22±0.01 mg/L) and Zn (0.047±0.01 mg/L) respectively. The results of bioaccumulation studies using the Bioaccumulation Factors (BAF) index indicated Ipomoea batatas to have higher bioaccumulation potential for Cd, Co and Cu while Pb and Zn were more accumulated in Manihot esculenta. The levels of the metals in both the water samples and plant tissues were all below the WHO permissible limit. This is indicative that the inhabitants of the community under investigation are not at any health risk.

Keywords: agriculture, bioaccumulation, heavy metal, plant tissues

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591 Influence of Shading on a BIPV System’s Performance in an Urban Context: Case Study of BIPV Systems of the Science Center of Complexity Building of the National and Autonomous University of Mexico in Mexico City

Authors: Viridiana Edith Ardura Perea, José Luis Bermúdez Alcocer

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The purpose of this paper is to establish the influence of shading on a Building Integrated Photovoltaic (BIPV) system´s performance in an urban context. The PV systems of the Science Center of Complexity (Centro de Ciencias de la Complejidad) Building based in the Main Campus of the National and Autonomous University of Mexico (UNAM) in Mexico City was taken as case study.  The PV systems are placed on the rooftop and on the south façade of the building.  The south-façade PV system, operating as sunshades, consists of two strings:  one at the ground floor and the other one at the first floor.  According to the building’s facility manager, the south-façade PV system generates 42% less electricity per kilowatt peak (kWp) installed than the one on the roof.  The methods applied in this study were Solar Radiation Analysis (SRA) simulations performed with the Insight 360 Plug-in from Revit 2018® and an on-site measurement using specialized tools.  The results of the SRA simulations showed that the shading casted by the PV system placed on the first floor on top of the PV system of the ground floor decreases its solar incident radiation over 50%.  The simulation outcome was compared and validated to the measured data obtained from the on-site measurement.  In conclusion, the loss factor achieved from the shading of the PVs is due to the surroundings and the PV system´s own design.  The south-façade BIPV system’s deficient design generates critical losses on its performance and decreases its profitability.

Keywords: building integrated photovoltaics design, energy analysis software, shading losses, solar radiation analysis

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590 Rainwater Harvesting for Household Consumption in Rural Demonstration Sites of Nong Khai Province, Thailand

Authors: Shotiros Protong

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In recent years, Thailand has been affected by climate change phenomenon, which is clearly seen from the season change for different times. The occurrence of violent storms, heavy rains, floods, and drought were found in several areas. In a long dry period, the water supply is not adequate in drought areas. Nowadays, it is renowned that there is a significant decrease of rainwater use for household consumption in rural area of Thailand. Rainwater harvesting is the practice of collection and storage of rainwater in storage tanks before it is lost as surface run-off. Rooftop rainwater harvesting is used to provide drinking water, domestic water, and water for livestock. Rainwater harvesting in households is an alternative for people to readily prepare water resources for their own consumptions during the drought season, can help mitigate flooding of flooded plains, and also may reduce demand on the basin and well. It also helps in the availability of potable water, as rainwater is substantially free of salts. Application of rainwater harvesting in rural water system provide a substantial benefit for both water supply and wastewater subsystems by reducing the need for clean water in water distribution systems, less generated storm water in sewer systems, and a reduction in storm water runoff polluting freshwater bodies. The combination of rainwater quality and rainfall quantity is used to determine proper rainwater harvesting for household consumption to be safe and adequate for survivals. Rainwater quality analysis is compared with the drinking water standard. In terms of rainfall quantity, the observed rainfall data are interpolated by GIS 10.5 and showed by map during 1980 to 2020, used to assess the annual yield for household consumptions.

Keywords: rainwater harvesting, drinking water standard, annual yield, rainfall quantity

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589 Weapon Collection Initiatives and the Threat of Small Arms and Light Weapons Proliferation in Volatile Areas of North-Eastern Nigeria as a Way Forward for National Security and Development

Authors: Halilu Babaji, Adamu Buba

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The proliferation of small arms and light weapons (SALW) and its illicit trafficking in West Africa and Nigeria in particular, pose a major threat to peace, security and development in the Sub-region. The high circulation of these weapons in the region is a product of the interplay of several factors, which derives principally from the internal socio-economic and political dynamics compounded by globalization. The process of globalization has congealed both time and space making it easier for ideas, goods, persons, services, information, products and money to move across borders with fewer restrictions. And this has a negative effect in the entire region making it easier for arms, ammunition, insurgents, criminal and drugs to flow within national boundaries. The failure of public security in most parts of Nigeria has lead communities to indulge in different forms of ‘self-help ‘security measures, ranging from vigilante groups to community-owned arms stockpiling. Having lost confidence in the Nigerian state, parties to some of these conflicts have become entangled in a security dilemma. The quest to procure more arms to guarantee personal and community protection from perceived and real enemies is fuelling the ‘domestic arms race ‘. Therefore, as small arms remain-and proliferate – development is impeded. The impact of SALW on economic well being and national development in Nigeria is of vast significant. Therefore the need to collect these arms in circulation in Nigeria particularly the volatile area of North-east is of very important. This will hopefully contribute to government effort in building a free, secured and peaceful society.

Keywords: arms, development, proliferation, security

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588 Designing Energy Efficient Buildings for Seasonal Climates Using Machine Learning Techniques

Authors: Kishor T. Zingre, Seshadhri Srinivasan

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Energy consumption by the building sector is increasing at an alarming rate throughout the world and leading to more building-related CO₂ emissions into the environment. In buildings, the main contributors to energy consumption are heating, ventilation, and air-conditioning (HVAC) systems, lighting, and electrical appliances. It is hypothesised that the energy efficiency in buildings can be achieved by implementing sustainable technologies such as i) enhancing the thermal resistance of fabric materials for reducing heat gain (in hotter climates) and heat loss (in colder climates), ii) enhancing daylight and lighting system, iii) HVAC system and iv) occupant localization. Energy performance of various sustainable technologies is highly dependent on climatic conditions. This paper investigated the use of machine learning techniques for accurate prediction of air-conditioning energy in seasonal climates. The data required to train the machine learning techniques is obtained using the computational simulations performed on a 3-story commercial building using EnergyPlus program plugged-in with OpenStudio and Google SketchUp. The EnergyPlus model was calibrated against experimental measurements of surface temperatures and heat flux prior to employing for the simulations. It has been observed from the simulations that the performance of sustainable fabric materials (for walls, roof, and windows) such as phase change materials, insulation, cool roof, etc. vary with the climate conditions. Various renewable technologies were also used for the building flat roofs in various climates to investigate the potential for electricity generation. It has been observed that the proposed technique overcomes the shortcomings of existing approaches, such as local linearization or over-simplifying assumptions. In addition, the proposed method can be used for real-time estimation of building air-conditioning energy.

Keywords: building energy efficiency, energyplus, machine learning techniques, seasonal climates

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587 Scenario Analysis to Assess the Competitiveness of Hydrogen in Securing the Italian Energy System

Authors: Gianvito Colucci, Valeria Di Cosmo, Matteo Nicoli, Orsola Maria Robasto, Laura Savoldi

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The hydrogen value chain deployment is likely to be boosted in the near term by the energy security measures planned by European countries to face the recent energy crisis. In this context, some countries are recognized to have a crucial role in the geopolitics of hydrogen as importers, consumers and exporters. According to the European Hydrogen Backbone Initiative, Italy would be part of one of the 5 corridors that will shape the European hydrogen market. However, the set targets are very ambitious and require large investments to rapidly develop effective hydrogen policies: in this regard, scenario analysis is becoming increasingly important to support energy planning, and energy system optimization models appear to be suitable tools to quantitively carry on that kind of analysis. The work aims to assess the competitiveness of hydrogen in contributing to the Italian energy security in the coming years, under different price and import conditions, using the energy system model TEMOA-Italy. A wide spectrum of hydrogen technologies is included in the analysis, covering the production, storage, delivery, and end-uses stages. National production from fossil fuels with and without CCS, as well as electrolysis and import of low-carbon hydrogen from North Africa, are the supply solutions that would compete with other ones, such as natural gas, biomethane and electricity value chains, to satisfy sectoral energy needs (transport, industry, buildings, agriculture). Scenario analysis is then used to study the competition under different price and import conditions. The use of TEMOA-Italy allows the work to catch the interaction between the economy and technological detail, which is much needed in the energy policies assessment, while the transparency of the analysis and of the results is ensured by the full accessibility of the TEMOA open-source modeling framework.

Keywords: energy security, energy system optimization models, hydrogen, natural gas, open-source modeling, scenario analysis, TEMOA

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586 Research on the Aesthetic Characteristics of Calligraphy Art Under The Cross-Cultural Background Based on Eye Tracking

Authors: Liu Yang

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Calligraphy has a unique aesthetic value in Chinese traditional culture. Calligraphy reflects the physical beauty and the dynamic beauty of things through the structure of writing and the order of strokes to standardize the style of writing. In recent years, Chinese researchers have carried out research on the appreciation of calligraphy works from the perspective of psychology, such as how Chinese people appreciate the beauty of stippled lines, the beauty of virtual and real, and the beauty of the composition. However, there is currently no domestic research on how foreigners appreciate Chinese calligraphy. People's appreciation of calligraphy is mainly in the form of visual perception, and psychologists have been working on the use of eye trackers to record eye tracking data to explore the relationship between eye tracking and psychological activities. The purpose of this experimental study is to use eye tracking recorders to analyze the eye gaze trajectories of college students with different cultural backgrounds when they appreciate the same calligraphy work to reveal the differences in cognitive processing with different cultural backgrounds. It was found that Chinese students perceived calligraphy as words when viewing calligraphy works, so they first noticed fonts with easily recognizable glyphs, and the overall viewed time was short. Foreign students perceived calligraphy works as graphics, and they first noticed novel and abstract fonts, and the overall viewing time is longer. The understanding of calligraphy content has a certain influence on the appreciation of calligraphy works by foreign students. It is shown that when foreign students who understand the content of calligraphy works. The eye tracking path is more consistent with the calligraphy writing path, and it helps to develop associations with calligraphy works to better understand the connotation of calligraphy works. This result helps us understand the impact of cultural background differences on calligraphy appreciation and helps us to take more effective strategies to help foreign audiences understand Chinese calligraphy art.

Keywords: Chinese calligraphy, eye-tracking, cross-cultural, cultural communication

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585 Entrepreneurship And Heritage Tourism: Identifying Opportunities Around Tsodilo Hills World Heritage Site

Authors: O. Nthoi-Molefe, V. Makwinja

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In the North West district of Botswana, Heritage tourism has the potential to offer tremendous economic and social opportunities for local communities in terms of supporting Tourism product development and entrepreneurship. This paper Identifies that Cultural Heritage Entrepreneur brings to the market goods and services, organizes and runs cultural heritage in a commercial or non-profit manner depending on characteristics of cultural resources identified. Data was collected through a series of focus group discussions that included sixteen village community members within the region. Data collected was transcribed and then further analyzed thematically to bring forward results to be analysed. Using Tsodilo Hills World Heritage Site as a case study, the researchers acknowledged that Cultural Heritage Entrepreneurs in that area should use a creative approach in order toidentify suitable solutions for financing different tourism activities starting with sponsored events, grant funds, donations, including the benefits of financial opportunities brough be foreign visitors and domestic tourists alike. The researchers also identified a need for specialized training for the identified entrepreneurs in order to maintain quality services of tourism products and sites (interpretation), information for tourists, visitation services, diversification, and upgrading of the heritage experience. The research reveals that the identified Cultural Heritage Entrepreneurs prefer economic motivation, exploitation over the cultural value of their resources, further calling for recommendations of the research that emphasize on the need for detailed training on how to valorize their cultural resources for the growth of Tourism in the area.

Keywords: education, community development, entrepreneurship, cultural tourism

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584 Experimental Exploration of Recycled Materials for Potential Application in Interior Design

Authors: E. P. Bhowmik, R. Singh

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Certain materials casually thrown away as by-product household waste, such as used tea leaves, used coffee remnants, eggshells, peanut husks, coconut coir, unwanted paper, and pencil shavings- have scope in the hidden properties that they offer as recyclable raw ingredients. This paper aims to explore and experiment with the sustainable potential of such disposed wastes, obtained from domestic and commercial backgrounds, that could otherwise contribute to the field of interior design if mass-collected and repurposed. Research has been conducted on available recorded methods of mass-collection, storage, and processing of such materials by certain brands, designers, and researchers, as well as the various application and angles possible with regards to re-usage. A questionnaire survey was carried out to understand the willingness of the demographics for efforts of the mass collection and their openness to such unconventional materials for interiors. An experiment was also conducted where the selected waste ingredients were used to create small samples that could be used as decorative panels. Comparisons were made for properties like color, smell, texture, relative durability, and weight- and accordingly, applications were suggested. The experiment, therefore, helped to propose to recycle of the common household as a potential surface finish for floors, walls, and ceilings, and even founding material for furniture and decor accessories such as pottery and lamp shades; for non-structural application in both residential and commercial interiors. Common by-product wastes often see their ends at landfills- laymen unaware of their sustainable possibilities dispose of them. However, processing these waste materials and repurposing them by incorporating them into interiors would serve as a sustainable alternative to ethical dilemmas in the construction of interior design/architecture elements.

Keywords: interior materials, mass-collection, sustainable, waste recycle

Procedia PDF Downloads 91
583 Unveiling the Potential of Hydroponics as a Climate-Smart Technology for Small-Scale Farming and Food Security in Africa

Authors: Margaret S. Gumisiriza, Ernest. R. Mbega, Patrick Ndakidemi, Businge K. Edward

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The purpose of the paper was to assess existing literature regarding hydroponics in both the developing and developed countries. Furthermore, relate it to the context of African countries, how they can implement it and benefit from it in the face of climate change, high population growth rates, and reduced food production. Agriculture remains the major economic activity for a number of African countries. It is the source of income for most peasants, and still contributes to the Gross Domestic Product in most of these African countries. Unfortunately, climate change coupled with the increasing rates of population growth; rural-urban migration; and urbanization have led to food insecurity due to a reduction of available land for agriculture. This has further intensified the food security dilemma in Africa, especially in urban areas, where land is already limited. Considering the aforementioned state of affairs, there is an increasing demand for interventions that can help farmers in Africa to cope with climate change and increase food production. This review explores hydroponic farming and how it can be used as a climate-smart farming system in Africa’s rural and urban areas. Specifically, the review focuses on hydroponics, requirements for hydroponic farming and the state of hydroponic farming in LDCs and Developed countries (DCs). From the review, it was observed that African countries especially those that receive a lot of sunlight would highly benefit from the solar-powered hydroponic farming systems. Further, still, this farming system will help African countries cope with the challenges of high population pressure in urban areas and climate change as it qualifies to be an urban farming system.

Keywords: Africa, climate-smart agriculture, solar-powered-hydroponics, urban-farming

Procedia PDF Downloads 258
582 Unshackled Slaves: An Analysis of the Adjudication of Degrading Conditions of Work by Brazilian Labour Courts

Authors: Aline F. C. Pereira

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In recent years, modern slavery has increasingly gathered attention in scholarly discussions and policy debates. Whereas the mainstream studies focus on forced labour and trafficking, little attention is paid to other forms of exploitation, such as degrading conditions of work –criminalised in Brazil as an autonomous type of slavery since 2003. This paper aims to bridge this gap. It adopts a mixed method that comprises both qualitative and quantitative analysis, to investigate the adjudication of 164 cases of degrading conditions of work by Brazilian labour courts. The research discloses an ungrounded reluctance to apply the domestic legal framework, as in most of the cases degrading conditions of work are not recognised as contemporary slavery, despite the law. In some cases, not even situations described as subhuman and degrading of human dignity were framed as slavery. The analysis also suggests that, as in chattel times, lack of freedom and subjection remain relevant in the legal characterisation of slave labour. The examination has further unraveled a phenomenon absent in previous studies: normalisation of precarity. By depicting precarity as natural and inevitable in rural areas, labour courts ensure conformity to the status quo and reduce the likelihood of resistance by victims. Moreover, compensations afforded to urban workers are higher than granted to rural employees, which seems to place human beings in hierarchical categories -a trace of colonialism. In sum, the findings challenge the worldwide spread assumption that Brazil addresses slavery efficiently. Conversely, the Brazilian Labour Judiciary seems to remain subservient to a colonial perspective of slavery, legitimising, and sanctioning abusive practices.

Keywords: adjudication, contemporary slavery, degrading conditions of work, normalisation of precarity

Procedia PDF Downloads 103
581 Energy Interaction among HVAC and Supermarket Environment

Authors: Denchai Woradechjumroen, Haorong Li, Yuebin Yu

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Supermarkets are the most electricity-intensive type of commercial buildings. The unsuitable indoor environment of a supermarket provided by abnormal HVAC operations incurs waste energy consumption in refrigeration systems. This current study briefly describes significantly solid backgrounds and proposes easy-to-use analysis terminology for investigating the impact of HVAC operations on refrigeration power consumption using the field-test data obtained from building automation system (BAS). With solid backgrounds and prior knowledge, expected energy interactions between HVAC and refrigeration systems are proposed through Pearson’s correlation analysis (R value) by considering correlations between equipment power consumption and dominantly independent variables (driving force conditions). The R value can be conveniently utilized to evaluate how strong relations between equipment operations and driving force parameters are. The calculated R values obtained from field data are compared to expected ranges of R values computed by energy interaction methodology. The comparisons can separate the operational conditions of equipment into faulty and normal conditions. This analysis can simply investigate the condition of equipment operations or building sensors because equipment could be abnormal conditions due to routine operations or faulty commissioning processes in field tests. With systematically solid and easy-to-use backgrounds of interactions provided in the present article, the procedures can be utilized as a tool to evaluate the proper commissioning and routine operations of HVAC and refrigeration systems to detect simple faults (e.g. sensors and driving force environment of refrigeration systems and equipment set-point) and optimize power consumption in supermarket buildings. Moreover, the analysis will be used to further study FDD research for supermarkets in future.

Keywords: energy interaction, HVAC, R-value, supermarket buildings

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580 Performance Analysis of Organic Rankine Cycle Technology to Exploit Low-Grade Waste Heat to Power Generation in Indian Industry

Authors: Bipul Krishna Saha, Basab Chakraborty, Ashish Alex Sam, Parthasarathi Ghosh

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The demand for energy is cumulatively increasing with time.  Since the availability of conventional energy resources is dying out gradually, significant interest is being laid on searching for alternate energy resources and minimizing the wastage of energy in various fields.  In such perspective, low-grade waste heat from several industrial sources can be reused to generate electricity. The present work is to further the adoption of the Organic Rankine Cycle (ORC) technology in Indian industrial sector.  The present paper focuses on extending the previously reported idea to the next level through a comparative review with three different working fluids using practical data from an Indian industrial plant. For comprehensive study in the simulation platform of Aspen Hysys®, v8.6, the waste heat data has been collected from a current coke oven gas plant in India.  A parametric analysis of non-regenerative ORC and regenerative ORC is executed using the working fluids R-123, R-11 and R-21 for subcritical ORC system.  The primary goal is to determine the optimal working fluid considering various system parameters like turbine work output, obtained system efficiency, irreversibility rate and second law efficiency under applied multiple heat source temperature (160 °C- 180 °C).  Selection of the turbo-expanders is one of the most crucial tasks for low-temperature applications in ORC system. The present work is an attempt to make suitable recommendation for the appropriate configuration of the turbine. In a nutshell, this study justifies the proficiency of integrating the ORC technology in Indian perspective and also finds the appropriate parameter of all components integrated in ORC system for building up an ORC prototype.

Keywords: organic Rankine cycle, regenerative organic Rankine cycle, waste heat recovery, Indian industry

Procedia PDF Downloads 364
579 Stabilization of Pb, Cr, Cd, Cu and Zn in Solid Waste and Sludge Pyrolysis by Modified Vermiculite

Authors: Yuxuan Yang, Zhaoping Zhong

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Municipal solid waste and sludge are important sources of waste energy and their proper disposal is of great importance. Pyrolysis can fully decompose solid wastes and sludge, and the pyrolysis products (charcoal, oil and gas) have important recovery values. Due to the complex composition of solid wastes and sludge, the pyrolysis process at high temperatures is prone to heavy metal emissions, which are harmful to humans and the environment and reduce the safety of pyrolysis products. In this paper, heavy metal emissions during pyrolysis of municipal sewage sludge, paper mill sludge, municipal domestic waste, and aged refuse at 450-650°C were investigated and the emissions and hazards of heavy metals (Pb, Cr, Cd, Cu and Zn) were effectively reduced by adding modified vermiculite as an additive. The vermiculite was modified by intercalation with cetyltrimethylammonium bromide, which resulted in more than twice the original layer spacing of the vermiculite. Afterward, the interpolated vermiculite was made into vermiculite flakes by exfoliation modification. After that, the expansion rate of vermiculite flakes was increased by Mg2+ modification and thermal activation. The expanded vermiculite flakes were acidified to improve the textural characteristics of the vermiculite. The modified vermiculite was analysed by XRD, FT-IR, BET and SEM to clarify the modification effect. The incorporation of modified vermiculite resulted in more than 80% retention of all heavy metals at 450°C. Cr, Cu and Zn were better retained than Pb and Cd. The incorporation of modified vermiculite effectively reduced the risk of heavy metals, and all risks were low for Pb, Cr, Cu and Zn. The toxicity of all heavy metals was greatly reduced by the incorporation of modified vermiculite and the morphology of heavy metals was transformed from Exchangeable and acid-soluble (F1) and Reducible (F2) to Oxidizable (F3) and Residual (F4). In addition, the increase in temperature favored the stabilization of heavy metal forms. This study provides a new insight into the cleaner use of energy and the safe management of solid waste.

Keywords: heavy metal, pyrolysis, vermiculite, solid waste

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578 Assessment of Hydrogen Demand for Different Technological Pathways to Decarbonise the Aviation Sector in Germany

Authors: Manish Khanra, Shashank Prabhu

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The decarbonization of hard-to-abate sectors is currently high on the agenda in the EU and its member states, as these sectors have substantial shares in overall GHG emissions while it is facing serious challenges to decarbonize. In particular, the aviation sector accounts for 2.8% of global anthropogenic CO₂ emissions. These emissions are anticipated to grow dramatically unless immediate mitigating efforts are implemented. Hydrogen and its derivatives based on renewable electricity can have a key role in the transition towards CO₂-neutral flights. The substantial shares of energy carriers in the form of drop-in fuel, direct combustion and Hydrogen-to-Electric are promising in most scenarios towards 2050. For creating appropriate policies to ramp up the production and utilisation of hydrogen commodities in the German aviation sector, a detailed analysis of the spatial distribution of supply-demand sites is essential. The objective of this research work is to assess the demand for hydrogen-based alternative fuels in the German aviation sector to achieve the perceived goal of the ‘Net Zero’ scenario by 2050. Here, the analysis of the technological pathways for the production and utilisation of these fuels in various aircraft options is conducted for reaching mitigation targets. Our method is based on data-driven bottom-up assessment, considering production and demand sites and their spatial distribution. The resulting energy demand and its spatial distribution with consideration of technology diffusion lead to a possible transition pathway of the aviation sector to meet short-term and long-term mitigation targets. Additionally, to achieve mitigation targets in this sector, costs and policy aspects are discussed, which would support decision-makers from airline industries, policymakers and the producers of energy commodities.

Keywords: the aviation sector, hard-to-abate sectors, hydrogen demand, alternative fuels, technological pathways, data-driven approach

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577 Collaborative Online International Learning with Different Learning Goals: A Second Language Curriculum Perspective

Authors: Andrew Nowlan

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During the Coronavirus pandemic, collaborative online international learning (COIL) emerged as an alternative to overseas sojourns. However, now that face-to-face classes have resumed and students are studying abroad, the rationale for doing COIL is not always clear amongst educators and students. Also, the logistics of COIL become increasingly complicated when participants involved in a potential collaboration have different second language (L2) learning goals. In this paper, the researcher will report on a study involving two bilingual, cross-cultural COIL courses between students at a university in Japan and those studying in North America, from April to December, 2022. The students in Japan were enrolled in an intercultural communication class in their L2 of English, while the students in Canada and the United States were studying intermediate Japanese as their L2. Based on a qualitative survey and journaling data received from 31 students in Japan, and employing a transcendental phenomenological research design, the researcher will highlight the students’ essence of experience during COIL. Essentially, students benefited from the experience through improved communicative competences and increased knowledge of the target culture, even when the L2 learning goals between institutions differed. Students also reported that the COIL experience was effective in preparation for actual study abroad, as opposed to a replacement for it, which challenges the existing literature. Both educators and administrators will be exposed to the perceptions of Japanese university students towards COIL, which could be generalized to other higher education contexts, including those in Southeast Asia. Readers will also be exposed to ideas for developing more effective pre-departure study abroad programs and domestic intercultural curriculum through COIL, even when L2 learning goals may differ between participants.

Keywords: collaborative online international learning, study abroad, phenomenology, EdTech, intercultural communication

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576 Foreign Direct Investment, International Trade and Environment in Bangladesh: An Empirical Study

Authors: Shilpi Tripathi

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After independence, Bangladesh had to learn to survive on its own without any economic crutches (aid). Foreign direct investment (FDI) became a crucial economic tool for the country to become economically independent. The government started removing restrictions to encourage foreign investment, economic growth, international trade, and the environment. FDI is considered as a way to bridge the saving-investment gap, reduce poverty, balance trade, create jobs for its vast labour force, increase foreign exchange earnings and acquire new modern technology and management skills in the country. At the same time, spillovers of foreign investments in Bangladesh, such as low wages (compared to laborers of developed countries), poor working conditions and unbridled exploitation of the domestic resources, environmental externalities, etc., cannot be ignored. The most important adverse implications of FDI inflows noticed are the environmental problems, which are further impacting the health and society of the country. This paper empirically studies the relationship between FDI, economic growth, international trade (exports and Imports), and the environment since 1996. The first part of the paper focuses on the background and trends of FDI, GDP, trade, and environment (CO₂). The second part focuses on the literature review on the relationship between all the variables. The last part of the paper examines the results of empirical analysis like co-integration and Granger causality. The findings of the paper reveal that a uni-directional relationship exists between FDI, CO₂, and international trade (exports and imports). The direction of the causality reveals that FDI inflow is one of the major contributors to high-volume international trade. At the same time, FDI and international trade both are contributing to carbon emissions in Bangladesh. The paper concludes with the policy recommendations that will ensure environmentally friendly trade, investment, and growth in Bangladesh for the future.

Keywords: foreign direct investment, GDP, international trade, CO₂, Granger causality, environment

Procedia PDF Downloads 164
575 Comparison of Cyclone Design Methods for Removal of Fine Particles from Plasma Generated Syngas

Authors: Mareli Hattingh, I. Jaco Van der Walt, Frans B. Waanders

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A waste-to-energy plasma system was designed by Necsa for commercial use to create electricity from unsorted municipal waste. Fly ash particles must be removed from the syngas stream at operating temperatures of 1000 °C and recycled back into the reactor for complete combustion. A 2D2D high efficiency cyclone separator was chosen for this purpose. During this study, two cyclone design methods were explored: The Classic Empirical Method (smaller cyclone) and the Flow Characteristics Method (larger cyclone). These designs were optimized with regard to efficiency, so as to remove at minimum 90% of the fly ash particles of average size 10 μm by 50 μm. Wood was used as feed source at a concentration of 20 g/m3 syngas. The two designs were then compared at room temperature, using Perspex test units and three feed gases of different densities, namely nitrogen, helium and air. System conditions were imitated by adapting the gas feed velocity and particle load for each gas respectively. Helium, the least dense of the three gases, would simulate higher temperatures, whereas air, the densest gas, simulates a lower temperature. The average cyclone efficiencies ranged between 94.96% and 98.37%, reaching up to 99.89% in individual runs. The lowest efficiency attained was 94.00%. Furthermore, the design of the smaller cyclone proved to be more robust, while the larger cyclone demonstrated a stronger correlation between its separation efficiency and the feed temperatures. The larger cyclone can be assumed to achieve slightly higher efficiencies at elevated temperatures. However, both design methods led to good designs. At room temperature, the difference in efficiency between the two cyclones was almost negligible. At higher temperatures, however, these general tendencies are expected to be amplified so that the difference between the two design methods will become more obvious. Though the design specifications were met for both designs, the smaller cyclone is recommended as default particle separator for the plasma system due to its robust nature.

Keywords: Cyclone, design, plasma, renewable energy, solid separation, waste processing

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574 [Keynote Speech]: Determination of Naturally Occurring and Artificial Radionuclide Activity Concentrations in Marine Sediments in Western Marmara, Turkey

Authors: Erol Kam, Z. U. Yümün

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Natural and artificial radionuclides cause radioactive contamination in environments, just as the other non-biodegradable pollutants (heavy metals, etc.) sink to the sea floor and accumulate in sediments. Especially the habitat of benthic foraminifera living on the surface of sediments or in sediments at the seafloor are affected by radioactive pollution in the marine environment. Thus, it is important for pollution analysis to determine the radionuclides. Radioactive pollution accumulates in the lowest level of the food chain and reaches humans at the highest level. The more the accumulation, the more the environment is endangered. This study used gamma spectrometry to investigate the natural and artificial radionuclide distribution of sediment samples taken from living benthic foraminifera habitats in the Western Marmara Sea. The radionuclides, K-40, Cs-137, Ra-226, Mn 54, Zr-95+ and Th-232, were identified in the sediment samples. For this purpose, 18 core samples were taken from depths of about 25-30 meters in the Marmara Sea in 2016. The locations of the core samples were specifically selected exclusively from discharge points for domestic and industrial areas, port locations, and so forth to represent pollution in the study area. Gamma spectrometric analysis was used to determine the radioactive properties of sediments. The radionuclide concentration activity values in the sediment samples obtained were Cs-137=0.9-9.4 Bq/kg, Th-232=18.9-86 Bq/kg, Ra-226=10-50 Bq/kg, K-40=24.4–670 Bq/kg, Mn 54=0.71–0.9 Bq/kg and Zr-95+=0.18–0.19 Bq/kg. These values were compared with the United Nations Scientific Committee on the Effects of Atomic Radiation (UNSCEAR) data, and an environmental analysis was carried out. The Ra-226 series, the Th-232 series, and the K-40 radionuclides accumulate naturally and are increasing every day due to anthropogenic pollution. Although the Ra-226 values obtained in the study areas remained within normal limits according to the UNSCEAR values, the K-40, and Th-232 series values were found to be high in almost all the locations.

Keywords: Ra-226, Th-232, K-40, Cs-137, Mn 54, Zr-95+, radionuclides, Western Marmara Sea

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573 The Hidden Role of Interest Rate Risks in Carry Trades

Authors: Jingwen Shi, Qi Wu

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We study the role played interest rate risk in carry trade return in order to understand the forward premium puzzle. In this study, our goal is to investigate to what extent carry trade return is indeed due to compensation for risk taking and, more important, to reveal the nature of these risks. Using option data not only on exchange rates but also on interest rate swaps (swaptions), our first finding is that, besides the consensus currency risks, interest rate risks also contribute a non-negligible portion to the carry trade return. What strikes us is our second finding. We find that large downside risks of future exchange rate movements are, in fact, priced significantly in option market on interest rates. The role played by interest rate risk differs structurally from the currency risk. There is a unique premium associated with interest rate risk, though seemingly small in size, which compensates the tail risks, the left tail to be precise. On the technical front, our study relies on accurately retrieving implied distributions from currency options and interest rate swaptions simultaneously, especially the tail components of the two. For this purpose, our major modeling work is to build a new international asset pricing model where we use an orthogonal setup for pricing kernels and specify non-Gaussian dynamics in order to capture three sets of option skew accurately and consistently across currency options and interest rate swaptions, domestic and foreign, within one model. Our results open a door for studying forward premium anomaly through implied information from interest rate derivative market.

Keywords: carry trade, forward premium anomaly, FX option, interest rate swaption, implied volatility skew, uncovered interest rate parity

Procedia PDF Downloads 434