Search results for: power delay product.
3581 Metal-Dielectric Antireflection Coating on Metallic Substrate for Solar Selective Absorbers of Concentrating Solar Power Systems
Authors: Chien-Cheng Kuo
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We design and discuss metal-dielectric antireflection coating on metallic substrates for Solar Selective Absorbers of Concentrating Solar Power Systems. The average reflectance is 8.5% at 400-3000nm and 84.4% at 3000nm-10000nm of the metal-dielectric structure.
Keywords: Concentrating solar power systems, solar thermal, solar selective absorber, absorptance, emittance.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18293580 Pinch Analysis of Triple Pressure Reheat Supercritical Combined Cycle Power Plant
Authors: Sui Yan Wong, Keat Ping Yeoh, Chi Wai Hui
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In this study, supercritical steam is introduced to Combined Cycle Power Plant (CCPP) in an attempt to further optimize energy recovery. Subcritical steam is commonly used in the CCPP, operating at maximum pressures around 150-160 bar. Supercritical steam is an alternative to increase heat recovery during vaporization period of water. The idea of improvement using supercritical steam is further examined with the use of exergy, pinch analysis and Aspen Plus simulation.
Keywords: Exergy, pinch, combined cycle power plant, CCPP, supercritical steam.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 5473579 How Celebrities can be used in Advertising to the Best Advantage?
Authors: Laimona Sliburyte
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The ever increasing product diversity and competition on the market of goods and services has dictated the pace of growth in the number of advertisements. Despite their admittedly diminished effectiveness over the recent years, advertisements remain the favored method of sales promotion. Consequently, the challenge for an advertiser is to explore every possible avenue of making an advertisement more noticeable, attractive and impellent for consumers. One way to achieve this is through invoking celebrity endorsements. On the one hand, the use of a celebrity to endorse a product involves substantial costs, however, on the other hand, it does not immediately guarantee the success of an advertisement. The question of how celebrities can be used in advertising to the best advantage is therefore of utmost importance. Celebrity endorsements have become commonplace: empirical evidence indicates that approximately 20 to 25 per cent of advertisements feature some famous person as a product endorser. The popularity of celebrity endorsements demonstrates the relevance of the topic, especially in the context of the current global economic downturn, when companies are forced to save in order to survive, yet simultaneously to heavily invest in advertising and sales promotion. The issue of the effective use of celebrity endorsements also figures prominently in the academic discourse. The study presented below is thus aimed at exploring what qualities (characteristics) of a celebrity endorser have an impact on the ffectiveness of the advertisement in which he/she appears and how.
Keywords: Advertising, celebrity, celebrity endorsements, effectiveness of celebrity.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 36953578 The Effect of Symmetry on the Perception of Happiness and Boredom in Design Products
Authors: Michele Sinico
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The present research investigates the effect of symmetry on the perception of happiness and boredom in design products. Three experiments were carried out in order to verify the degree of the visual expressive value on different models of bookcases, wall clocks, and chairs. 60 participants directly indicated the degree of happiness and boredom using 7-point rating scales. The findings show that the participants acknowledged a different value of expressive quality in the different product models. Results show also that symmetry is not a significant constraint for an emotional design project.
Keywords: Product experience, emotional design, symmetry, expressive qualities.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 8123577 Voltage Problem Location Classification Using Performance of Least Squares Support Vector Machine LS-SVM and Learning Vector Quantization LVQ
Authors: Khaled Abduesslam. M, Mohammed Ali, Basher H Alsdai, Muhammad Nizam, Inayati
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This paper presents the voltage problem location classification using performance of Least Squares Support Vector Machine (LS-SVM) and Learning Vector Quantization (LVQ) in electrical power system for proper voltage problem location implemented by IEEE 39 bus New- England. The data was collected from the time domain simulation by using Power System Analysis Toolbox (PSAT). Outputs from simulation data such as voltage, phase angle, real power and reactive power were taken as input to estimate voltage stability at particular buses based on Power Transfer Stability Index (PTSI).The simulation data was carried out on the IEEE 39 bus test system by considering load bus increased on the system. To verify of the proposed LS-SVM its performance was compared to Learning Vector Quantization (LVQ). The results showed that LS-SVM is faster and better as compared to LVQ. The results also demonstrated that the LS-SVM was estimated by 0% misclassification whereas LVQ had 7.69% misclassification.
Keywords: IEEE 39 bus, Least Squares Support Vector Machine, Learning Vector Quantization, Voltage Collapse.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 24133576 Multi-Level Pulse Width Modulation to Boost the Power Efficiency of Switching Amplifiers for Analog Signals with Very High Crest Factor
Authors: Jan Doutreloigne
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The main goal of this paper is to develop a switching amplifier with optimized power efficiency for analog signals with a very high crest factor such as audio or DSL signals. Theoretical calculations show that a switching amplifier architecture based on multi-level pulse width modulation outperforms all other types of linear or switching amplifiers in that respect. Simulations on a 2 W multi-level switching audio amplifier, designed in a 50 V 0.35 mm IC technology, confirm its superior performance in terms of power efficiency. A real silicon implementation of this audio amplifier design is currently underway to provide experimental validation.
Keywords: Audio amplifier, multi-level switching amplifier, power efficiency, pulse width modulation, PWM, self-oscillating amplifier.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 8723575 An Overview on the Effectiveness of Brand Mascot and Celebrity Endorsement
Authors: Isari Pairoa, Proud Arunrangsiwed
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Celebrity and brand mascot endorsement have been explored for more than three decades. Both endorsers can effectively transfer their reputation to corporate image and can influence the customers to purchase the product. However, there was little known about the mediators between the level of endorsement and its effect on buying behavior. The objective of the current study is to identify the gab of the previous studies and to seek possible mediators. It was found that consumer’s memory and identification are the mediators, of source credibility and endorsement effect. A future study should confirm the model of endorsement, which was established in the current study.
Keywords: Product endorsement, memory, identification theory, source credibility, unintentional effect.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 26783574 Modeling and Analysis of DFIG Based Wind Power System Using Instantaneous Power Components
Authors: Jaimala Gambhir, Tilak Thakur, Puneet Chawla
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As per the statistical data, the Doubly-fed Induction Generator (DFIG) based wind turbine with variable speed and variable pitch control is the most common wind turbine in the growing wind market. This machine is usually used on the grid connected wind energy conversion system to satisfy grid code requirements such as grid stability, Fault Ride Through (FRT), power quality improvement, grid synchronization and power control etc. Though the requirements are not fulfilled directly by the machine, the control strategy is used in both the stator as well as rotor side along with power electronic converters to fulfil the requirements stated above. To satisfy the grid code requirements of wind turbine, usually grid side converter is playing a major role. So in order to improve the operation capacity of wind turbine under critical situation, the intensive study of both machine side converter control and grid side converter control is necessary In this paper DFIG is modeled using power components as variables and the performance of the DFIG system is analysed under grid voltage fluctuations. The voltage fluctuations are made by lowering and raising the voltage values in the utility grid intentionally for the purpose of simulation keeping in view of different grid disturbances.Keywords: DFIG, dynamic modeling, DPC, sag, swell, voltage fluctuations, FRT.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 26643573 Development of a Plug-In Hybrid Powertrain System with Double Continuously Variable Transmissions
Authors: Cheng-Chi Yu, Chi-Shiun Chiou
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This study developed a plug-in hybrid powertrain system which consisted of two continuous variable transmissions. By matching between the engine, motor, generator, and dual continuous variable transmissions, this integrated power system can take advantages of the components. The hybrid vehicle can be driven by the internal combustion engine, or electric motor alone, or by these two power sources together when the vehicle is driven in hard acceleration or high load. The energy management of this integrated hybrid system controls the power systems based on rule-based control strategy to achieve better fuel economy. When the vehicle driving power demand is low, the internal combustion engine is operating in the low efficiency region, so the internal combustion engine is shut down, and the vehicle is driven by motor only. When the vehicle driving power demand is high, internal combustion engine would operate in the high efficiency region; then the vehicle could be driven by internal combustion engine. This strategy would operate internal combustion engine only in optimal efficiency region to improve the fuel economy. In this research, the vehicle simulation model was built in MATLAB/ Simulink environment. The analysis results showed that the power coupled efficiency of the hybrid powertrain system with dual continuous variable transmissions was better than that of the Honda hybrid system on the market.Keywords: Plug-in hybrid power system, fuel economy, performance, continuous variable transmission.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12943572 A Profit-Based Maintenance Scheduling of Thermal Power Units in Electricity Market
Authors: Smajo Bisanovic, Mensur Hajro, Muris Dlakic
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This paper presents one comprehensive modelling approach for maintenance scheduling problem of thermal power units in competitive market. This problem is formulated as a 0/1 mixedinteger linear programming model. Model incorporates long-term bilateral contracts with defined profiles of power and price, and weekly forecasted market prices for market auction. The effectiveness of the proposed model is demonstrated through case study with detailed discussion.
Keywords: Maintenance scheduling, bilateral contracts, market prices, profit.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16183571 110 MW Geothermal Power Plant Multiple Simulator, Using Wireless Technology
Authors: Guillermo Romero-Jiménez, Luis A. Jiménez-Fraustro, Mayolo Salinas-Camacho, Heriberto Avalos-Valenzuela
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A geothermal power plant multiple simulator for operators training is presented. The simulator is designed to be installed in a wireless local area network and has a capacity to train one to six operators simultaneously, each one with an independent simulation session. The sessions must be supervised only by one instructor. The main parts of this multiple simulator are: instructor and operator-s stations. On the instructor station, the instructor controls the simulation sessions, establishes training exercises and supervises each power plant operator in individual way. This station is hosted in a Main Personal Computer (NS) and its main functions are: to set initial conditions, snapshots, malfunctions or faults, monitoring trends, and process and soft-panel diagrams. On the other hand the operators carry out their actions over the power plant simulated on the operator-s stations; each one is also hosted in a PC. The main software of instructor and operator-s stations are executed on the same NS and displayed in PCs through graphical Interactive Process Diagrams (IDP). The geothermal multiple simulator has been installed in the Geothermal Simulation Training Center (GSTC) of the Comisi├│n Federal de Electricidad, (Federal Commission of Electricity, CFE), Mexico, and is being utilized as a part of the training courses for geothermal power plant operators.Keywords: Geothermal power plant, multiple simulator, training operator.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 20553570 An Improved Particle Swarm Optimization Technique for Combined Economic and Environmental Power Dispatch Including Valve Point Loading Effects
Authors: Badr M. Alshammari, T. Guesmi
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In recent years, the combined economic and emission power dispatch is one of the main problems of electrical power system. It aims to schedule the power generation of generators in order to minimize cost production and emission of harmful gases caused by fossil-fueled thermal units such as CO, CO2, NOx, and SO2. To solve this complicated multi-objective problem, an improved version of the particle swarm optimization technique that includes non-dominated sorting concept has been proposed. Valve point loading effects and system losses have been considered. The three-unit and ten-unit benchmark systems have been used to show the effectiveness of the suggested optimization technique for solving this kind of nonconvex problem. The simulation results have been compared with those obtained using genetic algorithm based method. Comparison results show that the proposed approach can provide a higher quality solution with better performance.
Keywords: Power dispatch, valve point loading effects, multiobjective optimization, Pareto solutions.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 7743569 Attenuation in Transferred RF Power to a Biomedical Implant due to the Misalignment Coils
Authors: Batel Noureddine, Mehenni Mohamed, Dekar Lies
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In biomedical implant field, a new formula is given for the study of Radio Frequency power attenuation by simultaneous effects of side and angular misalignment of the supply/data transfer coils. A confrontation with the practical measurements done into a Faraday cage, allowed a checking of the obtained theoretical results. The DC supply systems without material connection and the data transmitters used in the case of biomedical implants, can be well dimensioned by taking into account the possibility of power attenuation by misalignment of transfer coilsKeywords: Biomedical implant field, misalignment coils, powerattenuation, transmitter and receiver coils.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16973568 Selection of Wind Farms to Add Virtual Inertia Control to Assist the Power System Frequency Regulation
Authors: W. Du, X. Wang, Jun Cao, H. F. Wang
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Due to the randomness and uncertainty of wind energy, modern power systems integrating large-scale wind generation will be significantly impacted in terms of system performance and technical challenges. System inertia with high wind penetration is decreasing when conventional thermal generators are gradually replaced by wind turbines, which do not naturally contribute to inertia response. The power imbalance caused by wind power or demand fluctuations leads to the instability of system frequency. Accordingly, the need to attach the supplementary virtual inertia control to wind farms (WFs) strongly arises. When multi-wind farms are connected to the grid simultaneously, the selection of which critical WFs to install the virtual inertia control is greatly important to enhance the stability of system frequency. By building the small signal model of wind power systems considering frequency regulation, the installation locations are identified by the geometric measures of the mode observability of WFs. In addition, this paper takes the impacts of grid topology and selection of feedback control signals into consideration. Finally, simulations are conducted on a multi-wind farms power system and the results demonstrate that the designed virtual inertia control method can effectively assist the frequency regulation.
Keywords: Frequency regulation, virtual inertia control, installation locations, observability, wind farms.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 21573567 Micropower Composite Nanomaterials Based on Porous Silicon for Renewable Energy Sources
Authors: Alexey P. Antropov, Alexander V. Ragutkin, Nicolay A. Yashtulov
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The original controlled technology for power active nanocomposite membrane-electrode assembly engineering on the basis of porous silicon is presented. The functional nanocomposites were studied by electron microscopy and cyclic voltammetry methods. The application possibility of the obtained nanocomposites as high performance renewable energy sources for micro-power electronic devices is demonstrated.Keywords: Cyclic voltammetry, electron microscopy, nanotechnology, platinum-palladium nanocomposites, porous silicon, power activity, renewable energy sources.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12333566 Per Flow Packet Scheduling Scheme to Improve the End-to-End Fairness in Mobile Ad Hoc Wireless Network
Authors: K. Sasikala, R. S. D Wahidabanu
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Various fairness models and criteria proposed by academia and industries for wired networks can be applied for ad hoc wireless network. The end-to-end fairness in an ad hoc wireless network is a challenging task compared to wired networks, which has not been addressed effectively. Most of the traffic in an ad hoc network are transport layer flows and thus the fairness of transport layer flows has attracted the interest of the researchers. The factors such as MAC protocol, routing protocol, the length of a route, buffer size, active queue management algorithm and the congestion control algorithms affects the fairness of transport layer flows. In this paper, we have considered the rate of data transmission, the queue management and packet scheduling technique. The ad hoc network is dynamic in nature due to various parameters such as transmission of control packets, multihop nature of forwarding packets, changes in source and destination nodes, changes in the routing path influences determining throughput and fairness among the concurrent flows. In addition, the effect of interaction between the protocol in the data link and transport layers has also plays a role in determining the rate of the data transmission. We maintain queue for each flow and the delay information of each flow is maintained accordingly. The pre-processing of flow is done up to the network layer only. The source and destination address information is used for separating the flow and the transport layer information is not used. This minimizes the delay in the network. Each flow is attached to a timer and is updated dynamically. Finite State Machine (FSM) is proposed for queue and transmission control mechanism. The performance of the proposed approach is evaluated in ns-2 simulation environment. The throughput and fairness based on mobility for different flows used as performance metrics. We have compared the performance of the proposed approach with ATP and the transport layer information is used. This minimizes the delay in the network. Each flow is attached to a timer and is updated dynamically. Finite State Machine (FSM) is proposed for queue and transmission control mechanism. The performance of the proposed approach is evaluated in ns-2 simulation environment. The throughput and fairness based on not mobility for different flows used as performance metrics. We have compared the performance of the proposed approach with ATP and MC-MLAS and the performance of the proposed approach is encouraging.
Keywords: ATP, End-to-End fairness, FSM, MAC, QoS.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19903565 DPSO Based SEPIC Converter in PV System under Partial Shading Condition
Authors: K. Divya, G. Sugumaran
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This paper proposes an improved Maximum Power Point Tracking of PhotoVoltaic system using Deterministic Partical Swarm Optimization technique. This method has the ability to track the maximum power under varying environmental conditions i.e. partial shading conditions. The advantage of this method, particles moves in the restricted value of velocity to achieve the maximum power. SEPIC converter is employed to boost up the voltage of PV system. To estimate the value of the proposed method, MATLAB simulation carried out under partial shading condition.
Keywords: DPSO, Partial shading condition, P&O, PV, SEPIC.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 22803564 Noise Estimation for Speech Enhancement in Non-Stationary Environments-A New Method
Authors: Ch.V.Rama Rao, Gowthami., Harsha., Rajkumar., M.B.Rama Murthy, K.Srinivasa Rao, K.AnithaSheela
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This paper presents a new method for estimating the nonstationary noise power spectral density given a noisy signal. The method is based on averaging the noisy speech power spectrum using time and frequency dependent smoothing factors. These factors are adjusted based on signal-presence probability in individual frequency bins. Signal presence is determined by computing the ratio of the noisy speech power spectrum to its local minimum, which is updated continuously by averaging past values of the noisy speech power spectra with a look-ahead factor. This method adapts very quickly to highly non-stationary noise environments. The proposed method achieves significant improvements over a system that uses voice activity detector (VAD) in noise estimation.Keywords: Noise estimation, Non-stationary noise, Speechenhancement.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 23493563 Effect of Injection Moulding Process Parameter on Tensile Strength Using Taguchi Method
Authors: Gurjeet Singh, M. K. Pradhan, Ajay Verma
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The plastic industry plays very important role in the economy of any country. It is generally among the leading share of the economy of the country. Since metals and their alloys are very rarely available on the earth. Therefore, to produce plastic products and components, which finds application in many industrial as well as household consumer products is beneficial. Since 50% plastic products are manufactured by injection moulding process. For production of better quality product, we have to control quality characteristics and performance of the product. The process parameters plays a significant role in production of plastic, hence the control of process parameter is essential. In this paper the effect of the parameters selection on injection moulding process has been described. It is to define suitable parameters in producing plastic product. Selecting the process parameter by trial and error is neither desirable nor acceptable, as it is often tends to increase the cost and time. Hence, optimization of processing parameter of injection moulding process is essential. The experiments were designed with Taguchi’s orthogonal array to achieve the result with least number of experiments. Plastic material polypropylene is studied. Tensile strength test of material is done on universal testing machine, which is produced by injection moulding machine. By using Taguchi technique with the help of MiniTab-14 software the best value of injection pressure, melt temperature, packing pressure and packing time is obtained. We found that process parameter packing pressure contribute more in production of good tensile plastic product.
Keywords: Injection moulding, tensile strength, Taguchi method, poly-propylene.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 37743562 Power System Damping Using Hierarchical Fuzzy Multi- Input PSS and Communication Lines Active Power Deviations Input and SVC
Authors: Mohammad Hasan Raouf, Ahmad Rouhani, Mohammad Abedini, Ebrahim Rasooli Anarmarzi
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In this paper the application of a hierarchical fuzzy system (HFS) based on MPSS and SVC in multi-machine environment is studied. Also the effect of communication lines active power variance signal between two ΔPTie-line regions, as one of the inputs of hierarchical fuzzy multi-input PSS and SVC (HFMPSS & SVC), on the increase of low frequency oscillation damping is examined. In the MPSS, to have better efficiency an auxiliary signal of reactive power deviation (ΔQ) is added with ΔP+ Δω input type PSS. The number of rules grows exponentially with the number of variables in a classic fuzzy system. To reduce the number of rules the HFS consists of a number of low-dimensional fuzzy systems in a hierarchical structure. Phasor model of SVC is described and used in this paper. The performances of MPSS and ΔPTie-line based HFMPSS and also the proposed method in damping inter-area mode of oscillation are examined in response to disturbances. The efficiency of the proposed model is examined by simulating a four-machine power system. Results show that the proposed method is performing satisfactorily within the whole range of disturbances and reduces the cost of system.
Keywords: Communication lines active power variance signal, Hierarchical fuzzy system (HFS), Multi-input power system stabilizer (MPSS), Static VAR compensator (SVC).
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16773561 The Influence of the Commons Structure Modification on the Allocation
Authors: Oana Pop, Constantin Barbulescu, Mircea Nemes, Stefan Kilyeni
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The tracing methods determine the contribution the power system sources have in their supplying. The methods can be used to assess the transmission prices, but also to recover the transmission fixed cost. In this paper is presented the influence of the modification of commons structure has on the specific price of transfer. The operator must make use of a few basic principles about allocation. Most tracing methods are based on the proportional sharing principle. In this paper Kirschen method is used. In order to illustrate this method, the 25- bus test system is used, elaborated within the Electrical Power Engineering Department, from Timisoara, Romania.Keywords: Power systems, P-U bus, P-Q bus, tracing methods.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 13123560 A Modified Genetic Based Technique for Solving the Power System State Estimation Problem
Authors: A. A. Hossam-Eldin, E. N. Abdallah, M. S. El-Nozahy
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Power system state estimation is the process of calculating a reliable estimate of the power system state vector composed of bus voltages' angles and magnitudes from telemetered measurements on the system. This estimate of the state vector provides the description of the system necessary for the operation and security monitoring. Many methods are described in the literature for solving the state estimation problem, the most important of which are the classical weighted least squares method and the nondeterministic genetic based method; however both showed drawbacks. In this paper a modified version of the genetic algorithm power system state estimation is introduced, Sensitivity of the proposed algorithm to genetic operators is discussed, the algorithm is applied to case studies and finally it is compared with the classical weighted least squares method formulation.Keywords: Genetic algorithms, ill-conditioning, state estimation, weighted least squares.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17243559 Dynamic Bus Binding for Low Power Using Multiple Binding Tables
Authors: Jihyung Kim, Taejin Kim, Sungho Park, Jun-Dong Cho
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A conventional binding method for low power in a high-level synthesis mainly focuses on finding an optimal binding for an assumed input data, and obtains only one binding table. In this paper, we show that a binding method which uses multiple binding tables gets better solution compared with the conventional methods which use a single binding table, and propose a dynamic bus binding scheme for low power using multiple binding tables. The proposed method finds multiple binding tables for the proper partitions of an input data, and switches binding tables dynamically to produce the minimum total switching activity. Experimental result shows that the proposed method obtains a binding solution having 12.6-28.9% smaller total switching activity compared with the conventional methods.Keywords: low power, bus binding, switching activity, multiplebinding tables
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 11893558 The Application of Real Options to Capital Budgeting
Authors: George Yungchih Wang
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Real options theory suggests that managerial flexibility embedded within irreversible investments can account for a significant value in project valuation. Although the argument has become the dominant focus of capital investment theory over decades, yet recent survey literature in capital budgeting indicates that corporate practitioners still do not explicitly apply real options in investment decisions. In this paper, we explore how real options decision criteria can be transformed into equivalent capital budgeting criteria under the consideration of uncertainty, assuming that underlying stochastic process follows a geometric Brownian motion (GBM), a mixed diffusion-jump (MX), or a mean-reverting process (MR). These equivalent valuation techniques can be readily decomposed into conventional investment rules and “option impacts", the latter of which describe the impacts on optimal investment rules with the option value considered. Based on numerical analysis and Monte Carlo simulation, three major findings are derived. First, it is shown that real options could be successfully integrated into the mindset of conventional capital budgeting. Second, the inclusion of option impacts tends to delay investment. It is indicated that the delay effect is the most significant under a GBM process and the least significant under a MR process. Third, it is optimal to adopt the new capital budgeting criteria in investment decision-making and adopting a suboptimal investment rule without considering real options could lead to a substantial loss in value.
Keywords: real options, capital budgeting, geometric Brownianmotion, mixed diffusion-jump, mean-reverting process
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 27813557 Assessment of Performance Measures of Large-Scale Power Systems
Authors: Mohamed A. El-Kady, Badr M. Alshammari
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In a recent major industry-supported research and development study, a novel framework was developed and applied for assessment of reliability and quality performance levels in reallife power systems with practical large-scale sizes. The new assessment methodology is based on three metaphors (dimensions) representing the relationship between available generation capacities and required demand levels. The paper shares the results of the successfully completed stud and describes the implementation of the new methodology on practical zones in the Saudi electricity system.
Keywords: Power systems; large-scale analysis, reliability; performance assessment, linear programming.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18543556 Multifunctional Electrical Outlet based on Mobile Ad Hoc Network
Authors: Toshihiko Sasama, Takao Kawamura, Kazunori Sugahara
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Nowadays, new home appliances and office appliances have been developed that communicate with users through the Internet, for remote monitor and remote control. However, developments and sales of these new appliances are just started, then, many products in our houses and offices do not have these useful functions. In few years, we add these new functions to the outlet, it means multifunctional electrical power socket plug adapter. The outlet measure power consumption of connecting appliances, and it can switch power supply to connecting appliances, too. Using this outlet, power supply of old appliances can be control and monitor. And we developed the interface system using web browser to operate it from users[1]. But, this system need to set up LAN cables between outlets and so on. It is not convenience that cables around rooms. In this paper, we develop the system that use wireless mobile ad hoc network instead of wired LAN to communicate with the outlets.Keywords: outlet, remote monitor, mobile ad hoc network, zigbee.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19583555 Application of IED to Condition Based Maintenance of Medium Voltage GCB/VCB
Authors: Ming-Ta Yang, Jyh-Cherng Gu, Chun-Wei Huang, Jin-Lung Guan
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Time base maintenance (TBM) is conventionally applied by the power utilities to maintain circuit breakers (CBs), transformers, bus bars and cables, which may result in under maintenance or over maintenance. As information and communication technology (ICT) industry develops, the maintenance policies of many power utilities have gradually changed from TBM to condition base maintenance (CBM) to improve system operating efficiency, operation cost and power supply reliability. This paper discusses the feasibility of using intelligent electronic devices (IEDs) to construct a CB CBM management platform. CBs in power substations can be monitored using IEDs with additional logic configuration and wire connections. The CB monitoring data can be sent through intranet to a control center and be analyzed and integrated by the Elipse Power Studio software. Finally, a human-machine interface (HMI) of supervisory control and data acquisition (SCADA) system can be designed to construct a CBM management platform to provide maintenance decision information for the maintenance personnel, management personnel and CB manufacturers.
Keywords: Circuit breaker, Condition base maintenance, Intelligent electronic device, Time base maintenance, SCADA.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 22933554 Zigbee Based Wireless Energy Surveillance System for Energy Savings
Authors: Won-Ho Kim, Chang-Ho Hyun, Moon-Jung Kim
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In this paper, zigbee communication based wireless energy surveillance system is presented. The proposed system consists of multiple energy surveillance devices and an energy surveillance monitor. Each different standby power-off value of electric device is set automatically by using learning function of energy surveillance device. Thus adaptive standby power-off function provides user convenience and it maximizes the energy savings. Also, power consumption monitoring function is helpful to reduce inefficient energy consumption in home. The zigbee throughput simulator is designed to evaluate minimum transmission power and maximum allowable information quantity in the proposed system. The test result of prototype has been satisfied all the requirements. The proposed system has confirmed that can be used as an intelligent energy surveillance system for energy savings in home or office.
Keywords: Energy monitoring system, Energy surveillance system, Energy sensor network, Energy savings.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16833553 The Role of Product Involvement Level in Consumer Tendency toward Online Review
Authors: Khashayar Jafari Kaliji
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The paper aims to clarify the relationship between product involvement level and consumer tendency toward online review. It proposes the products in two classes and examines the level of user attention and significant difference between attribute-based areas and experience-based areas in each category. It uses an eye-tracking experiment to simulate the experience of online shopping behavior in order to view the consumers' shopping behavior. Thus, a scenario was designed, and 23 participants were asked step by step to purchase some products and add them to their shopping cart. The fixation durations are used to examine the amount of visual attention of the user in each area of interest (AOI) determined considering two classes of high involvement and low involvement products, and paired sample T-test was used to examine the effect of the product’s types on the online review content. The study results explained that users of high involvement products consider the attribute-based points more highly than the experience-based points.
Keywords: High-involvement products, low-involvement products, attribute-based review, experience-based review, eye tracking, fixation duration.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4253552 Observer Design for Chaos Synchronization of Time-delayed Power Systems
Authors: Jui-Sheng Lin, Yi-Sung Yang, Meei-Ling Hung, Teh-Lu Liao, Jun-Juh Yan
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The global chaos synchronization for a class of time-delayed power systems is investigated via observer-based approach. By employing the concepts of quadratic stability theory and generalized system model, a new sufficient criterion for constructing an observer is deduced. In contrast to the previous works, this paper proposes a theoretical and systematic design procedure to realize chaos synchronization for master-slave power systems. Finally, an illustrative example is given to show the applicability of the obtained scheme.
Keywords: Chaos, Synchronization, Quadratic stability theory, Observer
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1726