Search results for: electricity markets

Authors: Mohamed Ghorab

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Local generated and distributed system for thermal and electrical energy is sighted in the near future to reduce transmission losses instead of the centralized system. Distributed Energy Resources (DER) is designed at different sizes (small and medium) and it is incorporated in energy distribution between the hubs. The energy generated from each technology at each hub should meet the local energy demands. Economic and environmental enhancement can be achieved when there are interaction and energy exchange between the hubs. Network energy system and CO₂ optimization between different six hubs presented Canadian community level are investigated in this study. Three different scenarios of technology systems are studied to meet both thermal and electrical demand loads for the six hubs. The conventional system is used as the first technology system and a reference case study. The conventional system includes boiler to provide the thermal energy, but the electrical energy is imported from the utility grid. The second technology system includes combined heat and power (CHP) system to meet the thermal demand loads and part of the electrical demand load. The third scenario has integration systems of CHP and Organic Rankine Cycle (ORC) where the thermal waste energy from the CHP system is used by ORC to generate electricity. General Algebraic Modeling System (GAMS) is used to model DER system optimization based on energy economics and CO₂ emission analyses. The results are compared with the conventional energy system. The results show that scenarios 2 and 3 provide an annual total cost saving of 21.3% and 32.3 %, respectively compared to the conventional system (scenario 1). Additionally, Scenario 3 (CHP & ORC systems) provides 32.5% saving in CO₂ emission compared to conventional system subsequent case 2 (CHP system) with a value of 9.3%.  

Keywords: distributed energy resources, network energy system, optimization, microgeneration system

Procedia PDF Downloads 169

Authors: Christian Ndubisi Madu, Benjamin C. Ozumba, Ifeanyi E. Madu, Valentine E. Nnadi, Ikenna C. Ezeasor

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The ability to generate power and achieve energy security is one of the driving forces behind the emerging ‘microgrid’ concept. Traditional power supply often operates with centralized infrastructure for generating, transmitting and distributing electricity. The inefficiency and the incessant power outages associated with the centralized power supply system in Nigeria has alienated many users who frequently turn to electric power generator sets to power their homes and offices. Such acts are unsustainable and lead to increase in the use of fossil fuels, generation of carbon dioxide emissions and other gases, and noise pollution. They also pose significant risks as they entail random purchases and storage of gasolines which are fire hazards. It is therefore important that organizations rethink their relationships to centralized power suppliers in other to improve energy accessibility and security. This study explores the energy planning processes and learning taking place at the University of Nigeria Enugu Campus as the school lead microgrid feasibility studies in its community. There is need to develop community partners to deal with the issue of energy efficiency and also to create a strategic alliance to confront political, regulatory and economic barriers to locally-based energy planning. Community-based microgrid can help to reduce the cost of adoption and diversify risks. This study offers insights into the ways in which microgrids can further democratize energy planning, procurement, and access, while simultaneously promoting efficiency and sustainability.

Keywords: microgrid, energy efficiency, sustainability, energy security

Procedia PDF Downloads 338

Authors: Kudzanayi Chiteka, Wellington Makondo

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The whole world is on the drive to go green owing to the negative effects of burning fossil fuels. Therefore, there is immediate need to identify and utilise alternative renewable energy sources. Among these energy sources solar energy is one of the most dominant in Zimbabwe. Solar power plants used to generate electricity are entirely dependent on solar radiation. For planning purposes, solar radiation values should be known in advance to make necessary arrangements to minimise the negative effects of the absence of solar radiation due to cloud cover and other naturally occurring phenomena. This research focused on the prediction of Global Horizontal Irradiation values for the sixth day given values for the past five days. Artificial intelligence techniques were used in this research. Three models were developed based on Support Vector Machines, Radial Basis Function, and Feed Forward Back-Propagation Artificial neural network. Results revealed that Support Vector Machines gives the best results compared to the other two with a mean absolute percentage error (MAPE) of 2%, Mean Absolute Error (MAE) of 0.05kWh/m²/day root mean square (RMS) error of 0.15kWh/m²/day and a coefficient of determination of 0.990. The other predictive models had prediction accuracies of MAPEs of 4.5% and 6% respectively for Radial Basis Function and Feed Forward Back-propagation Artificial neural network. These two models also had coefficients of determination of 0.975 and 0.970 respectively. It was found that prediction of GHI values for the future days is possible using artificial intelligence-based predictive models.

Keywords: solar energy, global horizontal irradiation, artificial intelligence, predictive models

Procedia PDF Downloads 252

Authors: Benhaddadi M., Déry D.

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Electric motors are the single biggest consumer of electricity, and the consumption will have more than to double by 2050. Meanwhile, the existing technologies offer the potential to reduce the motor energy demand by up to 30 %, whereas the know-how to realise energy savings is not extensively applied. That is why the authors first conducted a detailed analysis of the regulation of the electric motor market in North America To illustrate the colossal energy savings potential permitted by the VFD, the authors have equipped experimental setup, based on centrifugal pump, simultaneously equipped with regulating throttle valves and variable frequency drive VFD. The obtained experimental results for 1.5 HP motor pump are extended to another motor powers, as centrifugal pumps that are different in power may have similar operational characteristics if they are located in a similar kind of process, permitting the simulations for 5 HP and 100 HP motors. According to the obtained results, VFDs tend to be most cost-effective when fitted to larger motor pumps, in addition to higher duty cycle of the motor and relative time operating at lower than full load. The energy saving permitted by the VFD use is huge, and the payback period for drive investment is short. Nonetheless, it’s important to highlight that there is no general rule of thumb that can be used to obtain the impact of the relative time operating at lower than full load. Indeed, in terms of energy-saving differences, 50 % flow regulation is tremendously better than 75 % regulation, but a slightly enhanced relative to 25 %. Two main distinct reasons can explain this somewhat not anticipated results: the characteristics of the process and the drop in efficiency when motor is operating at low speed.

Keywords: motor, drive, energy efficiency, centrifugal pump

Procedia PDF Downloads 47

Authors: Adam Y. Sulaiman, Gerard I.Obasi, Roma Chang, Hussein Sayed Moghaieb, Ming J. Huang, Neil J. Hewitt

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Residential air-conditioning units are essential for quality indoor comfort in hot climate countries. Nevertheless, because of their non-renewable energy sources and the contribution of ecologically unfriendly working fluids, these units are a major source of CO2 emissions in these countries. The utilisation of sustainable technologies nowadays is essential to reduce the adverse effects of CO2 emissions by replacing conventional technologies. This paper investigates the feasibility of running an off-grid solar-powered air-conditioning bed unit using three low GWP refrigerants (R32, R290, and R600a) to supersede conventional refrigerants.A prototype air conditioning unit was built to supply cold air to a canopy that was connected to it. The assembled unit was designed to distribute cold air to a canopy connected to it. This system is powered by two 400 W photovoltaic panels, with battery storage supplying power to the unit at night-time. Engineering Equation Solver (EES) software is used to mathematically model the vapor compression cycle (VCC) and predict the unit's energetic and exergetic performance. The TRNSYS software was used to simulate the electricity storage performance of the batteries, whereas the IES-VE was used to determine the amount of solar energy required to power the unit. The article provides an analytical design guideline, as well as a comprehensible process system. Combining a renewable energy source to power an AC based-VCC provides an excellent solution to the real problems of high-energy consumption in warm-climate countries.

Keywords: air-conditioning, refrigerants, PV panel, energy storages, VCC, exergy

Procedia PDF Downloads 151

Authors: Jocelyn D. Perreault

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An exploratory study has been launched in 2013-2014 in the province of Quebec, the state of Vermont (USA) and the region of Zaer in Morocco. We have realized three first case studies in order to better understand the marketing strategies of starting up vineries, which are defined as having a maximum of five years of operations. The methodology used consisted of visiting the vineyards; conducting semi-directed interviews with owner-managers; visiting points-of-sale of the wines and analysing the web sites using an assessment grid. The results indicate many differences between the three firms in their use of their web sites. More precisely, we have noticed that: -The Quebec vineyard uses its web site in collaboration with the touristic actors of its region and the association of the wine makers of the province of Quebec.Positioning is as a touristic attraction. -In comparison,the Moroccan firm limits the content of the web site to itself and its activities and somehow to the wine industry.Positioning is as a wine specialist. -The american firm associated its web site more to farm markets actors and activities of the region.Positioning is as an agricultural actor. -The positionings of the three vineyards are very different from each others and will be discussed more thoroughly during the presentation to better understand the use of web sites, thus contributing to the «brand image». -Improvements to the three web sites have been identified and suggested by more than a hundred of persons using the same grid and comprising students of bachelor and MBA degrees from our university. In general, the web sites have been considered satisfying but requiring several improvements at different levels. Changes or updates have been observed for the Quebec winery web site but practically no changes have been made to the others in the last months. The assessment grid will be presented in more details as well as the global and the partial scores given by the respondents. In conclusion, we have noticed that only one winery is considered as a «heavy and strategic user» of its web site and of Facebook and Twitter.

Keywords: web site, wineries, marketing, positioning, starting up strategies

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Authors: Lucero Luciano, Cesar Celis, Jose Ramos

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Polygeneration improves energy efficiency and reduce both energy consumption and pollutant emissions compared to conventional generation technologies. A polygeneration system is a variation of a cogeneration one, in which more than two outputs, i.e., heat, power, cooling, water, energy or fuels, are accounted for. In particular, polygeneration systems integrating solar energy and water desalination represent promising technologies for energy production and water supply. They are therefore interesting options for coastal regions with a high solar potential, such as those located in southern Peru and northern Chile. Notice that most of the Peruvian and Chilean mining industry operations intensive in electricity and water consumption are located in these particular regions. Accordingly, this work focus on the design and integration of a polygeneration system producing industrial heating, cooling, electrical power and water for an industrial plant. The design procedure followed in this work involves integer linear programming modeling (MILP), operational planning and dynamic operating conditions. The technical and economic feasibility of integrating renewable energy technologies (photovoltaic and solar thermal, PV+CPS), thermal energy store, power and thermal exchange, absorption chillers, cogeneration heat engines and desalination technologies is particularly assessed. The polygeneration system integration carried out seek to minimize the system total annual cost subject to CO2 emissions restrictions. Particular economic aspects accounted for include investment, maintenance and operating costs.

Keywords: desalination, design and integration, polygeneration systems, renewable energy

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Authors: Ashique Mahmud, MD. Ataul Gani Osmani, Shoria Sharmin

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In the first quarter of the twenty-first century, the most substantial global concern is environmental contamination, and it has gained the prioritization of both the national and international community. Keeping in mind this crucial fact, this study conducted different statistical and econometrical methods to identify whether the gross national income of the country has a significant impact on electricity production from nonrenewable sources and different air pollutants like carbon dioxide, nitrous oxide, and methane emissions. Besides, the primary objective of this research was to analyze whether the environmental Kuznets curve hypothesis holds for the examined variables. After analyzing different statistical properties of the variables, this study came to the conclusion that the environmental Kuznets curve hypothesis holds for gross national income and carbon dioxide emission in Bangladesh in the short run as well as the long run. This study comes to this conclusion based on the findings of ordinary least square estimations, ARDL bound tests, short-run causality analysis, the Error Correction Model, and other pre-diagnostic and post-diagnostic tests that have been employed in the structural model. Moreover, this study wants to demonstrate that the outline of gross national income and carbon dioxide emissions is in its initial stage of development and will increase up to the optimal peak. The compositional effect will then force the emission to decrease, and the environmental quality will be restored in the long run.

Keywords: environmental Kuznets curve hypothesis, carbon dioxide emission in Bangladesh, gross national income in Bangladesh, autoregressive distributed lag model, granger causality, error correction model

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Authors: Wieland Hoppe, Nadine Wachter, Stefan Bringezu

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Carbon dioxide (CO2) utilization might be a promising way to substitute fossil raw materials like coal, oil or natural gas as carbon source of chemical production. While first life cycle assessments indicate a positive environmental performance of CO2-based process routes, a commercialization of CO2 is limited by several economic obstacles up to now. We, therefore, analyzed the economic performance of the three CO2-based chemicals methane and methanol as basic chemicals and polyoxymethylene as polymer on a cradle-to-gate basis. Our approach is oriented towards life cycle costing. The focus lies on the cost drivers of CO2-based technologies and options to stimulate a CO2-based economy by changing regulative factors. In this way, we analyze various modes of operation and give an outlook for the potentially cost-effective development in the next decades. Biogas, waste gases of a cement plant, and flue gases of a waste incineration plant are considered as CO2-sources. The energy needed to convert CO2 into hydrocarbons via electrolysis is assumed to be supplied by wind power, which is increasingly available in Germany. Economic data originates from both industrial processes and process simulations. The results indicate that CO2-based production technologies are not competitive with conventional production methods under present conditions. This is mainly due to high electricity generation costs and regulative factors like the German Renewable Energy Act (EEG). While the decrease in production costs of CO2-based chemicals might be limited in the next decades, a modification of relevant regulative factors could potentially promote an earlier commercialization.

Keywords: carbon capture and utilization (CCU), economic assessment, life cycle costing (LCC), power-to-X

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Authors: Ann D. Christy, Beenish Saba

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The Microbial fuel Cell (MFC) is a successful integrated technology for power production and wastewater treatment. MFCs are recognized for their dual function, but research in this field is still ongoing to increase efficiency and power output. One such effort is successful integration of phototrophic and autotrophic microorganisms to create bacterio-algal MFCs for sustainable electricity production along with wastewater treatment and algal biomass production. An MFC is typically configured with an anaerobic anodic chamber containing exoelectrogenic microorganisms separated by a cation exchange membrane from an adjacent aerobic cathodic chamber. The two electrodes are connected by an external circuit. This conventional MFC can be converted into a phototrophic MFC by introducing photosynthetic microorganisms into the cathode chamber. This study examines adding a third desalination chamber to a two-chamber bacterio-algal MFC. Successful results have been observed from these three-chamber MFCs demonstrating wastewater treatment in the anodic chamber, phototrophic algal growth in the cathodic chamber, and desalination in the middle chamber. The present article will summarize successful results of the bacterio-algal fuel cells and offer insights about the mechanisms involved. Tables summarizing the input substrate along with optimized operational conditions and output performance in terms of power production and efficiencies of water and wastewater treatment will be presented. The negative impacts and challenges will be discussed, along with possible future research directions. Results suggest that the three chamber bacterio-algal desalination cell has potential as a feasible technology for power production, wastewater treatment and desalination, but it needs further investigation under optimized conditions.

Keywords: bacterio-algal MFC, three chamber, microbial fuel cell, wastewater treatment and desalination

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Authors: Nadia Sid, Alan Taylor, Marion Bourebrab

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The construction sector is on the critical path to decarbonise the European economy by 2050. In order to achieve this objective it must enable reducing its CO2 emission by 90% and its energy consumption by as much as 50%. For this reason, a new class of low environmental impact construction materials named “eco-material” are becoming increasingly important in the struggle against climate change. A European funded collaborative project ISOBIO coordinated by TWI is aimed at taking a radical approach to the use of bio-based aggregates to create novel construction materials that are usable in high volume in using traditional methods, as well as developing markets such as exterior insulation of existing house stocks. The approach taken for this project is to use finely chopped material protected from bio-degradation through the use of functionalized silica nanoparticles. TWI is exploring the development of novel inorganic-organic hybrid nano-materials, to be applied as a surface treatment onto bio-based aggregates. These nanoparticles are synthesized by sol-gel processing and then functionalised with silanes to impart multifunctionality e.g. hydrophobicity, fire resistance and chemical bonding between the silica nanoparticles and the bio-based aggregates. This talk will illustrate the approach taken by TWI to design the functionalized silica nanoparticles by using a material-by-design approach. The formulation and synthesize process will be presented together with the challenges addressed by those hybrid nano-materials. The results obtained with regards to the water repellence and fire resistance will be displayed together with preliminary public results of the ISOBIO project. (This project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 641927).

Keywords: bio-sourced material, composite material, durable insulation panel, water repellent material

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Authors: Tahereh Talebi, Reza Ghomashchi, Pejman Talemi, Sima Aminorroaya

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Electrophoretic deposition (EPD) of p-type Bi₂Te₃ material has been accomplished, and a high quality crack-free thick film has been achieved for thermoelectric (TE) applications. TE generators (TEG) can convert waste heat into electricity, which can potentially solve global warming problems. However, TEG is expensive due to the high cost of materials, as well as the complex and expensive manufacturing process. EPD is a simple and cost-effective method which has been used recently for advanced applications. In EPD, when a DC electric field is applied to the charged powder particles suspended in a suspension, they are attracted and deposited on the substrate with the opposite charge. In this study, it has been shown that it is possible to prepare a TE film using the EPD method and potentially achieve high TE properties at low cost. The relationship between the deposition weight and the EPD-related process parameters, such as applied voltage and time, has been investigated and a linear dependence has been observed, which is in good agreement with the theoretical principles of EPD. A stable EPD suspension of p-type Bi₂Te₃ was prepared in a mixture of acetone-ethanol with triethanolamine as a stabilizer. To achieve a high quality homogenous film on a copper substrate, the optimum voltage and time of the EPD process was investigated. The morphology and microstructures of the green deposited films have been investigated using a scanning electron microscope (SEM). The green Bi₂Te₃ films have shown good adhesion to the substrate. In summary, this study has shown that not only EPD of p-type Bi₂Te₃ material is possible, but its thick film is of high quality for TE applications.

Keywords: electrical conductivity, electrophoretic deposition, mechanical property, p-type Bi2Te3, Seebeck coefficient, thermoelectric materials, thick films

Procedia PDF Downloads 138

Authors: E. T. El Shenawy, O. N. A. Esmail, Adel A. Elbaset, Hesham F. A. Hamed

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Generation of the electrical energy based on photovoltaic (PV) technology has been increased over the world due to either the continuous reduction in the traditional energy sources in addition to the pollution problems related to their usage, or the clean nature and safe usage of the PV technology. Also, PV systems can generate clean electricity in the site of use without any transmission, which can be considered cost effective than other generation systems. The performance of the PV system is highly affected by the amount of solar radiation incident on it. Completely or partially shaded PV systems can affect its output. The PV system can be shaded by trees, buildings, dust, incorrect system configuration, or other obstacles. The present paper studies the effect of the partial shading on the performance of a thin film PV module under climatic conditions of Cairo, Egypt. This effect was measured and evaluated according to practical measurement of the characteristic curves such as current-voltage and power-voltage for two identical PV modules (with and without shading) placed at the same time on one mechanical structure for comparison. The measurements have been carried out for the following shading patterns; half cell (bottom, middle, and top of the PV module); complete cell; and two adjacent cells. The results showed that partially shading the PV module changes the shapes of the I-V and P-V curves and produces more than one maximum power point, that can disturb the traditional maximum power point trackers. Also, the output power from the module decreased according to the incomplete solar radiation reaching the PV module due to shadow patterns. The power loss due shading was 7%, 22%, and 41% for shading of half-cell, one cell, and two adjacent cells of the PV module, respectively.

Keywords: I-V measurements, PV module characteristics, PV module power loss, PV module shading

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Authors: Matthias Banholzer, Hagen Müller, Michael Pfitzner

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Gas internal combustion engines are widely used as propulsion systems or in power plants to generate heat and electricity. While there are different types of injection methods including the manifold port fuel injection and the direct injection, the latter has more potential to increase the specific power by avoiding air displacement in the intake and to reduce combustion anomalies such as backfire or pre-ignition. During the opening process of the injector, multiple flow regimes occur: subsonic, transonic and supersonic. To cover the wide range of Mach numbers a compressible pressure-based solver is used. While the standard Pressure Implicit with Splitting of Operators (PISO) method is used for the coupling between velocity and pressure, a high-resolution non-oscillatory central scheme established by Kurganov and Tadmor calculates the convective fluxes. A blending function based on the local Mach- and CFL-number switches between the compressible and incompressible regimes of the developed model. As the considered operating points are well above the critical state of the used fluids, the ideal gas assumption is not valid anymore. For the real gas thermodynamics, the models based on the Soave-Redlich-Kwong equation of state were implemented. The caloric properties are corrected using a departure formalism, for the viscosity and the thermal conductivity the empirical correlation of Chung is used. For the injector geometry, the dimensions of a diesel injector were adapted. Simulations were performed using different nozzle and needle geometries and opening curves. It can be clearly seen that there is a significant influence of all three parameters.

Keywords: high pressure gas injection, hybrid solver, hydrogen injection, needle opening process, real-gas thermodynamics

Procedia PDF Downloads 436

Authors: Salwa M. Almomen, Mona A. Almaghrabi, Saja M. Alhabardi, Adel A. Alrwisan

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Background: Hepatotoxicity is a major reason for medication withdrawal from the markets. Unfortunately, serious adverse hepatic effects can occur after marketing with limited indicators during clinical development. Therefore, finding possible predictors for hepatotoxicity might guide the monitoring program of various stakeholders. Methods: We examined the clinical review documents for drugs approved in the US from 2011 to 2016 to evaluate their hepatic safety profile. Predictors: we assessed whether these medications meet Hy’s Law with hepatotoxicity grade ≥ 3, labeled hepatic adverse effects at approval, or accelerated approval status. Outcome: post-marketing regulatory action related to hepatotoxicity, including product withdrawal or updates to warning, precaution, or adverse effects sections. Statistical analysis: drugs were included in the analysis from the time of approval until the end of 2019 or the first post-marketing regulatory action related to hepatotoxicity, whichever occurred first. The hazard ratio (HR) was estimated using Cox-regression analysis. Results: We included 192 medications in the study. We classified 48 drugs as having grade ≥ 3 hepatotoxicities, 43 had accelerated approval status, and 74 had labeled information about hepatotoxicity prior to marketing. The adjusted HRs for post-marketing regulatory action for products with grade ≥ 3 hepatotoxicity was 0.61 (95% confidence interval [CI], 0.17-2.23), 0.92 (95%CI, 0.29-2.93) for a drug approved via accelerated approval program, and was 0.91 (95%CI, 0.33-2.56) for drugs with labeled hepatotoxicity information at approval time. Conclusion: This study does not provide conclusive evidence on the association between post-marketing regulatory action and grade ≥ 3 hepatotoxicity, accelerated approval status, or availability of labeled information at approval due to sampling size and channeling bias.

Keywords: accelerated approvals, hepatic adverse effects, drug-induced liver injury, hepatotoxicity predictors, post-marketing withdrawal

Procedia PDF Downloads 133

Authors: Pratheeba Subramanian, Anjula Gurtoo, Mary Mathew

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Transaction of patents in emerging patent markets is gaining momentum. Pricing patents for a transaction say patent sale remains a challenge. Patents vary in their pricing with some patents fetching higher prices than others. Sale of patents in portfolios further complicates pricing with multiple patents playing a role in pricing a bundle. In this paper, a set of 138 US patents sold individually as single invention lots and 462 US patents sold in bundles of 120 portfolios are investigated to understand the dynamics of selling prices of singletons and portfolios and their determinants. Firstly, price variations when patents are sold individually as singletons and portfolios are studied. Multivariate statistical techniques are used for analysis both at the lot level as well as at the individual patent level. The results show portfolios fetching higher prices than singletons at the lot level. However, at the individual patent level singletons show higher prices than per patent price of individual patent members within the portfolio. Secondly, to understand the price determinants, the effect of patent, seller, and bundling related characteristics on selling prices is studied separately for singletons and portfolios. The results show differences in the set of characteristics determining prices of singletons and portfolios. Selling prices of singletons are found to be dependent on the patent related characteristics, unlike portfolios whose prices are found to be dependent on all three aspects – patent, seller, and bundling. The specific patent, seller and bundling characteristics influencing selling price are discussed along with the implications.

Keywords: auction, patents, portfolio bundling, seller type, selling price, singleton

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Authors: Fernando Seabra, Giulia P. Flores, Karolina C. Gomes

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Trade liberalizations measures, as import tariff cuts, are not a sufficient trigger for trade growth. Given that price margins are narrow, traders and cargo operators tend to opt out of markets where the process of goods clearance is slow and costly. Excess paperwork and slow customs dispatch not only lead to institutional breakdowns and corruption but also to increasing transaction cost and trade constraints. The objective of this paper is, therefore, two-fold: First, to evaluate the relationship between institutional and infrastructural performance indexes and trade growth in container throughput; and, second, to investigate the causes for differences in container demurrage and detention fees in Latin American countries (using other emerging countries as benchmarking). The analysis is focused on manufactured goods, typically transported by containers. Institutional and infrastructure bottlenecks and, therefore, the country logistics efficiency – measured by the Logistics Performance Index (LPI, World Bank-WB) – are compared with other indexes, such as the Doing Business index (WB) and the Corruption Perception Index (Transparency International). The main results based on the comparison between Latin American countries and the others emerging countries point out in that the growth in containers trade is directly related to LPI performance. It has also been found that the main hypothesis is valid as aspects that more specifically identify trade facilitation and corruption are significant drivers of logistics performance. The exam of port efficiency (demurrage and detention fees) has demonstrated that not necessarily higher level of efficiency is related to lower charges; however, reductions in fees have been more significant within non-Latin American emerging countries.

Keywords: corruption, logistics performance index, container throughput, Latin America

Procedia PDF Downloads 222

Authors: O. S. Ebrahim, K. O. Shawky, M. O. S. Ebrahim, P. K. Jain

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Induction Motor (IM) driving pump is the main consumer of electricity in a typical fluid transportation system (FTS). It was illustrated that changing the connection of the stator windings from delta to star at no load could achieve noticeable active and reactive energy savings. This paper proposes a supervisory hysteresis liquid-level control with three-state energy saving mode (ESM) for IM in FTS including storage tank. The IM pump drive comprises modified star/delta switch and hydromantic coupler. Three-state ESM is defined, along with the normal running, and named analog to computer ESMs as follows: Sleeping mode in which the motor runs at no load with delta stator connection, hibernate mode in which the motor runs at no load with a star connection, and motor shutdown is the third energy saver mode. A logic flow-chart is synthesized to select the motor state at no-load for best energetic cost reduction, considering the motor thermal capacity used. An artificial neural network (ANN) state estimator, based on the recurrent architecture, is constructed and learned in order to provide fault-tolerant capability for the supervisory controller. Sequential test of Wald is used for sensor fault detection. Theoretical analysis, preliminary experimental testing and, computer simulations are performed to show the effectiveness of the proposed control in terms of reliability, power quality and energy/coenergy cost reduction with the suggestion of power factor correction.

Keywords: ANN, ESM, IM, star/delta switch, supervisory control, FT, reliability, power quality

Procedia PDF Downloads 159

Authors: Vitus Onyebuchim Onyemailu, Olive Obianuju Okalibe

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The study tried to examine relationship between exchange rate variations on the balance of payments in Nigeria from 1970 to 2012. Using time series on econometric measures such as Granger causality and ordinary least square (OLS), the study found that exchange rate movements especially the depreciation of naira has not contributed significantly on the balance of payments under the year of the study. The granger result conform the Marshall-Lerner short and long run prepositions that exchange rate devaluation enhances balance of payments. On disaggregation exchange rate granger causes current and capital account balances give the Nigeria data from 1970 to 2012. Overall in the long run OLS regression analysis, exchange rate on semi log functional form, exchange rate variation did not record significant effect on balance of payment equation. This height was also maintained in the current or trade balance which does not match the Marshall-Lerner. The capital account balance in reverse reported a significant impact of exchange rate variability on the capital account balance. Finally, on exchange rate determination equation, where many fundamentals were considered including lagged of exchange rate. Thus, the lagged of exchange rate recorded a positive and significant influence on the present exchange rate. This means that players in the financial markets usually out plays authority’s policy’s stances through their speculative tendencies. The work therefore, recommend that effort should be made by the authorities to providing enabling environment for production of goods and services to triumph in order to take advantages of steady devaluation of its currency. This is done by providing infrastructure, provision of science and technology. Thus, when this is done Nigeria would be able to have competitive power against the rest of the world.

Keywords: exchange rate variation, balance of payments, current account, capital account, Marshall-Lerner hypothesis

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Authors: Xiaolei Hu, Enrico Ferrera, Riccardo Tomasi, Claudio Pastrone

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Load Forecasting plays a key role in making today's and future's Smart Energy Grids sustainable and reliable. Accurate power consumption prediction allows utilities to organize in advance their resources or to execute Demand Response strategies more effectively, which enables several features such as higher sustainability, better quality of service, and affordable electricity tariffs. It is easy yet effective to apply Load Forecasting at larger geographic scale, i.e. Smart Micro Grids, wherein the lower available grid flexibility makes accurate prediction more critical in Demand Response applications. This paper analyses the application of short-term load forecasting in a concrete scenario, proposed within the EU-funded GreenCom project, which collect load data from single loads and households belonging to a Smart Micro Grid. Three short-term load forecasting techniques, i.e. linear regression, artificial neural networks, and radial basis function network, are considered, compared, and evaluated through absolute forecast errors and training time. The influence of weather conditions in Load Forecasting is also evaluated. A new definition of Gain is introduced in this paper, which innovatively serves as an indicator of short-term prediction capabilities of time spam consistency. Two models, 24- and 1-hour-ahead forecasting, are built to comprehensively compare these three techniques.

Keywords: short-term load forecasting, smart micro grid, linear regression, artificial neural networks, radial basis function network, gain

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Authors: Nico Rosamilia

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The study evaluates the importance of non-financial disclosure practices for regulators, investors, businesses, and markets. It aims to create a sector-specific set of indicators for environmental, social, and governance (ESG) performances alternative to the ratings of the agencies. The existing literature extensively studies the implementation of ESG rating systems. Conversely, this study has a twofold outcome. Firstly, it should generalize incentive systems and governance policies for ESG and sustainable principles. Therefore, it should contribute to the EU Sustainable Finance Disclosure Regulation. Secondly, it concerns the market and the investors by highlighting successful sustainable investing. Indeed, the study contemplates the effect of ESG adoption practices on corporate value. The research explores the asset pricing angle in order to shed light on the fragmented argument on the finance of ESG. Investors may be misguided about the positive or negative effects of ESG on performances. The paper proposes a different method to evaluate ESG performances. By comparing the results of a traditional econometric approach (Lasso) with a machine learning algorithm (Random Forest), the study establishes a set of indicators for ESG performance. Therefore, the research also empirically contributes to the theoretical strands of literature regarding model selection and variable importance in a finance framework. The algorithms will spit out sector-specific indicators. This set of indicators defines an alternative to the compounded scores of ESG rating agencies and avoids the possible offsetting effect of scores. With this approach, the paper defines a sector-specific set of indicators to standardize ESG disclosure. Additionally, it tries to shed light on the absence of a clear understanding of the direction of the ESG effect on corporate value (the problem of endogeneity).

Keywords: ESG ratings, non-financial information, value of firms, sustainable finance

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Authors: Mohamed Amhal, Jose Sayritupac

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Photovoltaic (PV) systems have risen as one of the modern renewable energy sources that are used in wide ranges to produce electricity and deliver it to the electrical grid. In parallel, monitoring systems have been deployed as a key element to track the energy production and to forecast the total production for the next days. The reliability of the PV energy production has become a crucial point in the analysis of PV systems. A deeper understanding of each phenomenon that causes a gain or a loss of energy is needed to better design, operate and maintain the PV systems. This work analyzes the current losses distribution in PV systems starting from the available solar energy, going through the DC side and AC side, to the delivery point. Most of the phenomena linked to energy losses and gains are considered and modeled, based on real time monitoring data and datasheets of the PV system components. An analysis of the order of magnitude of each loss is compared to the current literature and commercial software. To date, the analysis of PV systems performance based on a breakdown structure of energy losses and gains is not covered enough in the literature, except in some software where the concept is very common. The cutting-edge of the current analysis is the implementation of software tools for energy losses estimation in PV systems based on several energy losses definitions and estimation technics. The developed tools have been validated and tested on some PV plants in France, which are operating for years. Among the major findings of the current study: First, PV plants in France show very low rates of soiling and aging. Second, the distribution of other losses is comparable to the literature. Third, all losses reported are correlated to operational and environmental conditions. For future work, an extended analysis on further PV plants in France and abroad will be performed.

Keywords: energy gains, energy losses, losses distribution, monitoring, photovoltaic, photovoltaic systems

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Authors: M. Feliciano, F. Maia, A. Gonçalves

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Olive oil production sector plays an important role in Portuguese economy. It had a major growth over the last decade, increasing its weight in the overall national exports. International market penetration for Mediterranean traditional products is increasingly more demanding, especially in the Northern European markets, where consumers are looking for more sustainable products. Trying to support this growing demand this study addresses olive oil production under the environmental and eco-efficiency perspectives. The analysis considers two consecutive product life cycle stages: olive trees farming; and olive oil extraction in mills. Addressing olive farming, data collection covered two different organizations: a middle-size farm (~12ha) (F1) and a large-size farm (~100ha) (F2). Results from both farms show that olive collection activities are responsible for the largest amounts of Green House Gases (GHG) emissions. In this activities, estimate for the Carbon Footprint per olive was higher in F2 (188g CO2e/kgolive) than in F1 (148g CO2e/kgolive). Considering olive oil extraction, two different mills were considered: one using a two-phase system (2P) and other with a three-phase system (3P). Results from the study of two mills show that there is a much higher use of water in 3P. Energy intensity (EI) is similar in both mills. When evaluating the GHG generated, two conditions are evaluated: a biomass neutral condition resulting on a carbon footprint higher in 3P (184g CO2e/Lolive oil) than in 2P (92g CO2e/Lolive oil); and a non-neutral biomass condition in which 2P increase its carbon footprint to 273g CO2e/Lolive oil. When addressing the carbon footprint of possible combinations among studied subsystems, results suggest that olive harvesting is the major source for GHG.

Keywords: carbon footprint, environmental indicators, farming subsystem, industrial subsystem, olive oil

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Authors: Olga Biedova, Victoria Steblovskaya, Kai Wallbaum

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In the current capital market environment, investors constantly face the challenge of finding a successful and stable investment mechanism. Highly volatile equity markets and extremely low bond returns bring about the demand for sophisticated yet reliable risk management strategies. Investors are looking for risk management solutions to efficiently protect their investments. This study compares a classic Constant Proportion Portfolio Insurance (CPPI) strategy to a Volatility Target portfolio insurance (VTPI). VTPI is an extension of the well-known Option Based Portfolio Insurance (OBPI) to the case where an embedded option is linked not to a pure risky asset such as e.g., S&P 500, but to a Volatility Target (VolTarget) portfolio. VolTarget strategy is a recently emerged rule-based dynamic asset allocation mechanism where the portfolio’s volatility is kept under control. As a result, a typical VTPI strategy allows higher participation rates in the market due to reduced embedded option prices. In addition, controlled volatility levels eliminate the volatility spread in option pricing, one of the frequently cited reasons for OBPI strategy fall behind CPPI. The strategies are compared within the framework of the stochastic dominance theory based on numerical simulations, rather than on the restrictive assumption of the Black-Scholes type dynamics of the underlying asset. An extended comparative quantitative analysis of performances of the above investment strategies in various market scenarios and within a range of input parameter values is presented.

Keywords: CPPI, portfolio insurance, stochastic dominance, volatility target

Procedia PDF Downloads 144

Authors: Ayodeji Sowale, Athanasios Kolios, Beatriz Fidalgo, Tosin Somorin, Aikaterini Anastasopoulou, Alison Parker, Leon Williams, Ewan McAdam, Sean Tyrrel

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Recently, energy recovery systems are thriving and raising attention in the power generation sector, due to the request for cleaner forms of energy that are friendly and safe for the environment. This has created an avenue for cogeneration, where Combined Heat and Power (CHP) technologies have been recognised for their feasibility, and use in homes and small-scale businesses. The efficiency of combustors and the advantages of the free piston Stirling engines over other conventional engines in terms of output power and efficiency, have been observed and considered. This study presents the numerical analysis of a micro-combustor with a free piston Stirling engine in an integrated model of a Nano Membrane Toilet (NMT) unit. The NMT unit will use the micro-combustor to produce waste heat of high energy content from the combustion of human waste and the heat generated will power the free piston Stirling engine which will be connected to a linear alternator for electricity production. The thermodynamic influence of the combustor on the free piston Stirling engine was observed, based on the heat transfer from the flue gas to working gas of the free piston Stirling engine. The results showed that with an input of 25 MJ/kg of faecal matter, and flue gas temperature of 773 K from the micro-combustor, the free piston Stirling engine generates a daily output power of 428 W, at thermal efficiency of 10.7% with engine speed of 1800 rpm. An experimental investigation into the integration of the micro-combustor and free piston Stirling engine with the NMT unit is currently underway.

Keywords: free piston stirling engine, micro-combustor, nano membrane toilet, thermodynamics

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Authors: Abdullah Almulhim

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The International Accounting Standards Board (IASB) was established in 2001 to develop International Financial Reporting Standards (IFRS) that bring transparency, accountability, and efficiency to financial markets around the world. In addition, the IFRS provide a unified accounting language, which is especially important in the era of globalization. However, the establishment of a single set of high-quality international accounting standards is a matter of growing importance, as participants in the increasingly integrated world capital market demand comparability and transparency of financial reporting worldwide. Saudi Arabia became the 149th member of the World Trade Organization (WTO) on 11 December 2005, which has increased the need to convert to IFRS. Currently, the Saudi Arabian Monetary Authority (SAMA) requires banks and insurance companies in Saudi Arabia to report under IFRS Standards. However, until the end of 2016, SOCPA standards were applied to all other companies, listed and unlisted. From 2017, listed Saudi companies would be required to report under IFRS Standards as adopted by SOCPA effective 2017. This paper is to investigate the expected benefits gained and highlight the challenges faced by adopting IFRS by the listed companies in the Saudi Stock Exchange. Questionnaires were used as the main method of data collection. They were distributed to listed companies in the Saudi Capital Market. Data obtained through the questionnaires have been imported into SPSS statistical software for analysis. The expected results of this study will show the benefits of adopting IFRS by Saudi Listed Companies. However, this study will investigate the challenges faced by adopting IFRS by the listed companies in the Saudi Arabian Stock Market. Findings will be discussed later upon completion of initial analysis.

Keywords: challenges, IAS, IFRS, opportunities, Saudi, SOCPA

Procedia PDF Downloads 219

Authors: Azaz Zaman, Mirazur Rahman

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Capital market is a crucial financial market place where companies and the government can raise long-term funds and, at the same time, investors get the opportunity to invest in the listed companies. Capital markets play a vital role not only in shifting the funds from surplus entity to deficit for investment, but also in the overall economic development of any developing country like Bangladesh. Being the first and biggest capital market of Bangladesh, Dhaka Stock Exchange (DSE) is the prime bourse of the country. The differences in the investment preference— among three broad categories of investors in DSE including individual investors, institutional investors, and government— are easily observed. Authors of this article have used five categories of investors such as sponsors or directors of the company, institutional investors, foreign investors, government, and the general public in order to present a comparative analysis of their investment patterns. Obtaining data on the percentage of investment by these five types of investors in different sectors from the DSE website, this study aims to analyze the sector-wise investment preference of these investors using August 2018 data. The study has found that the sponsors or directors of the company have the highest percentage of investment in the textile industry which is close to 16%. The Bangladesh government, as an investor, has the highest percentage of investment in the fuel & power sector, approximately 32%. It has also found that the mutual funds' sector is mostly financed by institutional investors, nearly 28%. Foreign investors have their most investments in the banking sector, which is close to 22%. It has also revealed that the textile sector is mostly financed by the general public, close to 17%. Nevertheless, general public, surprisingly, has the lowest percentage of investment in the telecommunication sector, which is 0.10%.

Keywords: stock market investment, Dhaka stock exchange, capital market, Bangladesh

Procedia PDF Downloads 95

Authors: Akbar Zeb, Shujaul Mulk Khan, Habib Ahmad, Manzoor Hussain, Mujtaba Shah

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An ethnobotanical project was carried out in the Dughalgay valley District Swat in Hindu Kush region. The Local population not only use indigenous knowledge to use medicinal plants for curing various diseases but also earn their live hood by selling some of them in the local markets. An ethnobotanical project was carried out in the Doghalgay valley of upper Swat. The Local population not only use indigenous medicinal plants for curing various diseases but also earn their live hood by selling some of them in the local market. 102 of these medicinal plants were reported to be used in the region during questionnaire survey in spring 2007. Out of them 10 species are used as diuretic, 9 in stomachic and laxative each. Similarly 6, 5, 5, 4, 4, and 4 species of them are used as antiseptic, Anthelmintic, Carminative, Expectorant, Astringent and purgative respectively, while the remaining species have one or more than one medicinal use in the local community. 30 of these species are collected for marketing purposes, in which these medicinal plants such as Berberis lycium, Origanum vulgare, Bergenia ciliata, Aesculus indica, Podophyllum emodi, Pteredium aquilinum, Bergenia himalyca, Viola spp., Ajuga bracteosa, Morchella esculenta, Paeonia emodi, Atropa acuminate, Aconitum violaceum, Polygonum amplexicaulis, Bupleurum longicaule, Juglans regia, Diospyrus lotus, and Mentha longifolia are important. Study concluded that availability of medicinal plants is decreasing day by day due to human population pressure, marketing pressure, grazing and unwise collection. Therefore it is recommended that Governmental organizations and non Governmental organization should pay possible attention to make aware the local people about the future threats.

Keywords: indigenous knowledge, ethnomedicinal uses, marketing, Hindu Kush

Procedia PDF Downloads 485

Authors: Jenan Abu Qadourah

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With the depletion of traditional fossil resources and the growing human population, it is now more important than ever to reduce our energy usage and harmful emissions. In the Mediterranean region, the intense solar radiation contributes to summertime overheating, which raises energy costs and building carbon footprints, alternatively making it suitable for the installation of solar energy systems. In urban settings, where multi-story structures predominate and roof space is limited, photovoltaic integrated shading devices (PVSD) are a clean solution for building designers. However, incorporating photovoltaic (PV) systems into a building's envelope is a complex procedure that, if not executed correctly, might result in the PV system failing. As a result, potential PVSD design solutions must be assessed based on their overall energy performance from the project's early design stage. Therefore, this paper aims to investigate and compare the possible impact of various PVSDs on the energy performance of new apartments in the Mediterranean region, with a focus on Amman, Jordan. To achieve the research aim, computer simulations were performed to assess and compare the energy performance of different PVSD configurations. Furthermore, an energy index was developed by taking into account all energy aspects, including the building's primary energy demand and the PVSD systems' net energy production. According to the findings, the PVSD system can meet 12% to 43% of the apartment building's electricity needs. By highlighting the potential interest in PVSD systems, this study aids the building designer in producing more energy-efficient buildings and encourages building owners to install PV systems on the façade of their buildings.

Keywords: photovoltaic integrated shading device, solar energy, architecture, energy performance, simulation, overall energy index, Jordan

Procedia PDF Downloads 54

Authors: Belal Neazi

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'Larger Houses Consume More Resources’ – both in construction and during operation. The most important aspect of smaller homes is that it uses less electricity and fuel for construction and maintenance. Here, an urban interpretation of the contemporary minimal existence movement is explained. In an attempt to restrict urban decay and to encourage inner-city renewal, the Tiny House principles are interpreted as alternative ways of dwelling in urban neighbourhoods. These tiny houses are usually pretty different from each other in interior planning, but almost similar in size. The disadvantage of large homes came up when people were asked to vacate as they were not able to pay the massive amount of mortgages. This made them reconsider their housing situation and discover the ideas of minimalism and the general rising inclination in environmental awareness that serve as the basis for the tiny house movement. One of the largest benefits of inhabiting a tiny house is the decrease in carbon footprint. Also, to increase social behaviour and freedom. It’s better for the environmental concern, financial concerns, and desire for more time and freedom. Examples of the tiny house village which are sustaining homeless population and the use of different reclaimed materials for the construction of these tiny houses are explained in the paper. It is proposed in the paper, that these houses will reflect the diversity while proposing an alternative model for the rehabilitation of decaying row-homes and the renewal of fading communities. The core objective is to design small or micro spaces for the economically backward people of the place and increase their social behaviour and freedom. Also, it’s better for the environmental concern, financial concerns, and desire for more time and freedom.

Keywords: city renewal, environmental concern, micro-living, tiny house

Procedia PDF Downloads 156