Search results for: Sholeh Maani
5 Carbon Price Volatility in the New Zealand Emission Trading Scheme
Authors: Yudou Yang, Le Wen, Basil Sharp, Sholeh Maani
Abstract:
The emission trading scheme (ETS), a market-based mechanism regulated by the government, is considered one of the most cost-effective ways to solve climate issues such as greenhouse gas emissions and consumption of fossil fuels. Although some existing ETSs have already shown their anticipative effectiveness, many still face challenges, such as carbon price volatility. Price volatility is a key measure of market uncertainty. Excessive carbon price volatility could lower ETSs’ effectiveness and even reduce participants’ investment confidence. Hence, it is necessary and important to explore the characteristics and drivers of carbon price volatility. However, prior studies on carbon price volatility mainly focused on the European Union ETS and China’s national and regional ETSs. There is a lack of attention paid to the New Zealand ETS (NZ ETS), which is a crucial research gap given the special design of the NZ ETS and New Zealand’s greenhouse gas emission sources. To fill in this, we are first to empirically pay attention to the NZ ETS’s price volatility, systematically explore the supply-side, demand-side, and regulatory drivers of carbon price volatility, and initially examine the characteristics and drivers of carbon spot price volatility. We apply a series of autoregressive integrated moving averages (p, d, q)-exponential generalized autoregressive conditional heteroskedasticity (m, n)-X models to uncover the characteristics and drivers of carbon price volatility in the NZ ETS. Our key experimental results are (1) carbon price volatility in the NZ ETS is clustering, long-memory, and dynamically asymmetric. It tends first to increase more when positive shocks occur and then increases more in response to negative shocks in the large-lagged term. (2) Entitlement supply can impose significantly persistent impacts on the NZ ETS’s price volatility, first positive influence because of increased supply and then negative impacts given mean reversion theory. (3) Demand-side factors only have a short-term influence on carbon price volatility due to participants’ relatively stable demand for carbon allowances. (4) policy announcements regarding carbon allowances’ supply and demand are likely to increase carbon price volatility in the NZ ETS, and successful auctions with different settings show different impacts on the price volatility of the NZ ETS’ allowances. (5) the tightness of the entitlement transformation policy has significant potential to impact carbon price volatility, especially since too much tightening of this policy is able to cause high price volatility in this market. Our research enriches theories of regulating special ETSs, especially those with unique characteristics such as relatively inelastic demand, no real caps, unlimited usage of carbon credits, and a large potential supply of entitlements. More importantly, this study provides valuable references for Southeast Asian countries or regions, as most of them have abundant forestry resources and are operating or planning to establish an ETS to achieve their climate change targets.Keywords: carbon, price volatility, NZ ETS, entitlement, free allocation, ARIMAR-EGARCH-X
Procedia PDF Downloads 04 Bending Test Characteristics for Splicing of Thermoplastic Polymer Using Hot Gas Welding
Authors: Prantasi Harmi Tjahjanti, Iswanto Iswanto, Edi Widodo, Sholeh Pamuji
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Materials of the thermoplastic polymer when they break is usually thrown away, or is recycled which requires a long process. The purpose of this study is to splice the broken thermoplastic polymer using hot gas welding with different variations of welding wire/electrodes. Materials of thermoplastic polymer used are Polyethylene (PE), Polypropylene (PP), and Polyvinyl chloride (PVC) by using welding wire like the three materials. The method is carried out by using hot gas welding; there are two materials that cannot be connected, namely PE with PVC welding wire, and PP with PVC welding wire. The permeable liquid penetrant test is PP with PE welding wire, and PVC with PE welding wire. The best bending test result with the longest elongation is PE with PE welding wire with a bending test value of 179.03 kgf/mm². The microstructure was all described in Scanning Electron Microscopy (SEM) observations.Keywords: thermoplastic polymers, bending test, polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), hot gas welding, bending test
Procedia PDF Downloads 2083 Investigation of Steady State Infiltration Rate for Different Head Condition
Authors: Nour Aljafari, Mariam, S. Maani, Serter Atabay, Tarig Ali, Said Daker, Lara Daher, Hamad Bukhammas, Mohammed Abou Shakra
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This paper aims at determining the soil characteristics that influence the irrigation process of green landscapes and deciding on the optimum amount of water needed for irrigation. The laboratory experiments were conducted using the constant head methodology to determine the soil infiltration rates. The steady state infiltration rate was reached after 10 minutes of infiltration at a rate of 200 mm/hr. The effects of different water heads on infiltration rates were also investigated, and the head of 11 cm was found to be the optimum head for the test. The experimental results showed consistent infiltration results for the range between 11 cm and 15 cm. The study also involved finding the initial moisture content, which ranged between 5% and 25%, and finding the organic content, which occupied 1% to 2% of the soil. These results will be later utilized, using the water balance approach, to estimate the optimum amount of water needed for irrigation for changing weather conditions.Keywords: infiltration rate, moisture content, grass type, organic content
Procedia PDF Downloads 2962 Effect of Chlorophyll Concentration Variations from Extract of Papaya Leaves on Dye-Sensitized Solar Cell
Authors: Eka Maulana, Sholeh Hadi Pramono, Dody Fanditya, M. Julius
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In this paper, extract of papaya leaves are used as a natural dye and combined by variations of solvent concentration applied on DSSC (Dye-Sensitized Solar Cell). Indonesian geographic located on the equator line occasions the magnitude of the potential to develop organic solar cells made from extracts of chlorophyll as a substitute for inorganic materials or synthetic dye on DSSC material. Dye serves as absorbing photons which are then converted into electrical energy. A conductive coated glass layer called TCO (Transparent Conductive Oxide) is used as a substrate of electrode. TiO2 nanoparticles as binding dye molecules, redox couple iodide/ tri-iodide as the electrolyte and carbon as the counter electrode in the DSSC are used. TiO2 nanoparticles, organic dyes, electrolytes and counter electrode are arranged and combined with the layered structure of the photo-catalyst absorption layer. Dye absorption measurements using a spectrophotometer at 200-800 nm light spectrum produces a total amount of chlorophyll 80.076 mg/l. The test cell at 7 watt LED light with 5000 lux luminescence were obtained Voc and Isc of 235.5 mV and 14 μA, respectively.Keywords: DSSC (Dye-Sensitized Solar Cell), natural dye, chlorophyll, absorption
Procedia PDF Downloads 5021 Measuring Learning Independence and Transition through the First Year in Architecture
Authors: Duaa Al Maani, Andrew Roberts
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Students in higher education are expected to learn actively and independently. Whilst quite work has been done to understand the perceptions of students’ learning transition regarding independent learning, to author’s best knowledge, it seems relatively few published research on independent learning in studio-based subjects such as architecture. Another major issue in independent learning research concerned the inconsistency in terminology; there appears to be a paucity of research on its definition, challenges, and tools within the UK university sector. It is not always clear how independent learning works in practice, or what are the challenges that face students toward being independent learners. Accordingly, this paper seeks to highlight these problems by analyzing previous and current literature of independent learning, in addition, to measure students’ independence at the very begging of their first academic year and compare it with their level of learning independence at the end of the same year. Eighty-seven student enrolled in 2017/2018 at Cardiff University completed the Autonomous Learning Questionnaire in order to measure their level of learning independence. Students’ initial responses were very positive and showed high level of learning independence. Interestingly, these responses significantly decreased at the end of the year. Time management was the most obvious challenge facing students transition into higher education, and contrary to expectations, we found no effect of student maturity on their level of independence. Moreover, we found no significant differences among students’ gender, but we did find differences among nationalities.Keywords: autonomous learning, first year, learning independence, transition
Procedia PDF Downloads 148