Financial Portfolio Optimization in Electricity Markets: Evaluation via Sharpe Ratio

Electricity plays an indispensable role in human life and the economy. It is a unique product or service that must be balanced instantaneously, as electricity is not stored, generation and consumption should be proportional. Effective and efficient use of electricity is very important not only for society, but also for the environment. A competitive electricity market is one of the best ways to provide a suitable platform for effective and efficient use of electricity. On the other hand, it carries some risks that should be carefully managed by the market players. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Markowitz’s Mean-variance, Down-side and Semi-variance methods for a case study. Performance of optimal electricity sale solutions are measured and evaluated via Sharpe-Ratio, and the optimal portfolio solutions are improved. Two years of historical weekdays’ price data of the Turkish Day Ahead Market are used to demonstrate the approach.

Energy Efficient Resource Allocation and Scheduling in Cloud Computing Platform

There has been renewal of interest in the relation between Green IT and cloud computing in recent years. Cloud computing has to be a highly elastic environment which provides stable services to users. The growing use of cloud computing facilities has caused marked energy consumption, putting negative pressure on electricity cost of computing center or data center. Each year more and more network devices, storages and computers are purchased and put to use, but it is not just the number of computers that is driving energy consumption upward. We could foresee that the power consumption of cloud computing facilities will double, triple, or even more in the next decade. This paper aims at resource allocation and scheduling technologies that are short of or have not well developed yet to reduce energy utilization in cloud computing platform. In particular, our approach relies on recalling services dynamically onto appropriate amount of the machines according to user’s requirement and temporarily shutting down the machines after finish in order to conserve energy. We present initial work on integration of resource and power management system that focuses on reducing power consumption such that they suffice for meeting the minimizing quality of service required by the cloud computing platform.

Logistical Optimization of Nuclear Waste Flows during Decommissioning

An important number of technological equipment and high-skilled workers over long periods of time have to be mobilized during nuclear decommissioning processes. The related operations generate complex flows of waste and high inventory levels, associated to information flows of heterogeneous types. Taking into account that more than 10 decommissioning operations are on-going in France and about 50 are expected toward 2025: A big challenge is addressed today. The management of decommissioning and dismantling of nuclear installations represents an important part of the nuclear-based energy lifecycle, since it has an environmental impact as well as an important influence on the electricity cost and therefore the price for end-users. Bringing new technologies and new solutions into decommissioning methodologies is thus mandatory to improve the quality, cost and delay efficiency of these operations. The purpose of our project is to improve decommissioning management efficiency by developing a decision-support framework dedicated to plan nuclear facility decommissioning operations and to optimize waste evacuation by means of a logistic approach. The target is to create an easy-to-handle tool capable of i) predicting waste flows and proposing the best decommissioning logistics scenario and ii) managing information during all the steps of the process and following the progress: planning, resources, delays, authorizations, saturation zones, waste volume, etc. In this article we present our results from waste nuclear flows simulation during decommissioning process, including discrete-event simulation supported by FLEXSIM 3-D software. This approach was successfully tested and our works confirms its ability to improve this type of industrial process by identifying the critical points of the chain and optimizing it by identifying improvement actions. This type of simulation, executed before the start of the process operations on the basis of a first conception, allow ‘what-if’ process evaluation and help to ensure quality of the process in an uncertain context. The simulation of nuclear waste flows before evacuation from the site will help reducing the cost and duration of the decommissioning process by optimizing the planning and the use of resources, transitional storage and expensive radioactive waste containers. Additional benefits are expected for the governance system of the waste evacuation since it will enable a shared responsibility of the waste flows.

Viability of Rice Husk Ash Concrete Brick/Block from Green Electricity in Bangladesh

As a developing country, Bangladesh has to face numerous challenges. Self Independence in electricity, contributing to climate change by reducing carbon emission and bringing the backward population of society to the mainstream is more challenging for them. Therefore, it is essential to ensure recycled use of local products to the maximum level in every sector. Some private organizations have already worked alongside government to bring the backward population to the mainstream by developing their financial capacities. As rice husk is the largest single category of the total energy supply in Bangladesh. As part of this strategy, rice husk can play a great as a promising renewable energy source, which is readily available, has considerable environmental benefits and can produce electricity and ensure multiple uses of byproducts in construction technology. For the first time in Bangladesh, an experimental multidimensional project depending on Rice Husk Electricity and Rice Husk Ash (RHA) concrete brick/block under Green Eco-Tech Limited has already been started. Project analysis, opportunity, sustainability, the high monitoring component, limitations and finally evaluated data reflecting the viability of establishing more projects using rice husk are discussed in this paper. The by-product of rice husk from the production of green electricity, RHA, can be used for making, in particular, RHA concrete brick/block in Bangladeshi aspects is also discussed here.

Hydrogen Production at the Forecourt from Off-Peak Electricity and Its Role in Balancing the Grid

The rapid growth of renewable energy sources and their integration into the grid have been motivated by the depletion of fossil fuels and environmental issues. Unfortunately, the grid is unable to cope with the predicted growth of renewable energy which would lead to its instability. To solve this problem, energy storage devices could be used. Electrolytic hydrogen production from an electrolyser is considered a promising option since it is a clean energy source (zero emissions). Choosing flexible operation of an electrolyser (producing hydrogen during the off-peak electricity period and stopping at other times) could bring about many benefits like reducing the cost of hydrogen and helping to balance the electric systems. This paper investigates the price of hydrogen during flexible operation compared with continuous operation, while serving the customer (hydrogen filling station) without interruption. The optimization algorithm is applied to investigate the hydrogen station in both cases (flexible and continuous operation). Three different scenarios are tested to see whether the off-peak electricity price could enhance the reduction of the hydrogen cost. These scenarios are: Standard tariff (1 tier system) during the day (assumed 12 p/kWh) while still satisfying the demand for hydrogen; using off-peak electricity at a lower price (assumed 5 p/kWh) and shutting down the electrolyser at other times; using lower price electricity at off-peak times and high price electricity at other times. This study looks at Derna city, which is located on the coast of the Mediterranean Sea (32° 46′ 0 N, 22° 38′ 0 E) with a high potential for wind resource. Hourly wind speed data which were collected over 24½ years from 1990 to 2014 were in addition to data on hourly radiation and hourly electricity demand collected over a one-year period, together with the petrol station data.

Optimization of Proton Exchange Membrane Fuel Cell Parameters Based on Modified Particle Swarm Algorithms

In recent years, increasing usage of electrical energy provides a widespread field for investigating new methods to produce clean electricity with high reliability and cost management. Fuel cells are new clean generations to make electricity and thermal energy together with high performance and no environmental pollution. According to the expansion of fuel cell usage in different industrial networks, the identification and optimization of its parameters is really significant. This paper presents optimization of a proton exchange membrane fuel cell (PEMFC) parameters based on modified particle swarm optimization with real valued mutation (RVM) and clonal algorithms. Mathematical equations of this type of fuel cell are presented as the main model structure in the optimization process. Optimized parameters based on clonal and RVM algorithms are compared with the desired values in the presence and absence of measurement noise. This paper shows that these methods can improve the performance of traditional optimization methods. Simulation results are employed to analyze and compare the performance of these methodologies in order to optimize the proton exchange membrane fuel cell parameters.

Entrepreneurship Cure for Economic Under-Development in Nigeria: A Theoretical Perspective

Scholars and development economists believe that the development of an economy depends largely on the creative and innovative ingenuity of its entrepreneurs. Others however, are of the opinion that the lack of entrepreneurs or entrepreneurial activities is not a constraint to economic development in any economy, particularly Nigeria. This paper sets out to explore the connectivity between entrepreneurship and economic development from a theoretical point of view, principally in Nigeria. A desk research approach was adopted where a conglomerate of literatures was reviewed on how entrepreneurship can spur economic growth or otherwise. The findings reveal that entrepreneurship is vital to the development of Nigeria and that, universities and other Higher Education Institutions must play the vital role of educating the people on entrepreneurship skills and competences. However, the problems and difficulties entrepreneurs face in Nigeria and the same problems suffocating the growth and development of its economy. Therefore, entrepreneurship cannot be said to be the sole cure for economic under-development in Nigeria but rather other factors such as empowering and granting the institutions autonomy and the provision of infrastructural capability, such as consistent electricity generation and supply, good system of transportation, implementing proposed economic policies in an effective and efficient manner etc., the cultural beliefs and mindset of the citizenry, was also found to be key in the development of any economy.

Technologic Information about Photovoltaic Applied in Urban Residences

Among renewable energy sources, solar energy is the one that has stood out. Solar radiation can be used as a thermal energy source and can also be converted into electricity by means of effects on certain materials, such as thermoelectric and photovoltaic panels. These panels are often used to generate energy in homes, buildings, arenas, etc., and have low pollution emissions. Thus, a technological prospecting was performed to find patents related to the use of photovoltaic plates in urban residences. The patent search was based on ESPACENET, associating the keywords photovoltaic and home, where we found 136 patent documents in the period of 1994-2015 in the fields title and abstract. Note that the years 2009, 2010, 2011, 2012, 2013 and 2014 had the highest number of applicants, with respectively, 11, 13, 23, 29, 15 and 21. Regarding the country that deposited about this technology, it is clear that China leads with 67 patent deposits, followed by Japan with 38 patents applications. It is important to note that most depositors, 50% are companies, 44% are individual inventors and only 6% are universities. On the International Patent classification (IPC) codes, we noted that the most present classification in results was H02J3/38, which represents provisions in parallel to feed a single network by two or more generators, converters or transformers. Among all categories, there is the H session, which means Electricity, with 70% of the patents.

Assessing the Viability of Solar Water Pumps Economically, Socially and Environmentally in Soan Valley, Punjab

One of the key solutions to the climate change crisis is to develop renewable energy resources, such as solar and wind power and biogas. This paper explores the socioeconomic and environmental viability of solar energy, based on a case study of the Soan Valley Development Program. Under this project, local farmers were provided solar water pumps at subsidized rates. These have been functional for the last seven years and have gained popularity among the local communities. The study measures the economic viability of using solar energy in agriculture, based on data from 36 households, of which 12 households each use diesel, electric and solar water pumps. Our findings are based on the net present value of each technology type. We also carry out a qualitative assessment of the social impact of solar water pumps relative to diesel and electric pumps. Finally, we conduct an environmental impact assessment, using the lifecycle assessment approach. All three analyses indicate that solar energy is a viable alternative to diesel and electricity.

A Performance Study of Fixed, Single-Axis and Dual-Axis Photovoltaic Systems in Kuwait

In this paper, a performance study was conducted to investigate single and dual-axis PV systems to generate electricity in five different sites in Kuwait. Relevant data were obtained by using two sources for validation purposes. A commercial software, PVsyst, was used to analyse the data, such as metrological data and other input parameters, and compute the performance parameters such as capacity factor (CF) and final yield (YF). The results indicated that single and dual-axis PV systems would be very beneficial to electricity generation in Kuwait as an alternative source to conventional power plants, especially with the increased demand over time. The ranges were also found to be competitive in comparison to leading countries using similar systems. A significant increase in CF and YF values around 24% and 28.8% was achieved related to the use of single and dual systems, respectively.

Feasibility Study on the Use of HEMS for Thermal Comfort and Energy Saving in Japanese Residential Buildings

The electricity consumption in the Japanese household sector has increased with higher rate than that of other sectors. This may be because of aging and information oriented society that requires more electrical appliances to make the life better and easier, under this circumstances, energy saving is one of the essential necessity in Japanese society. To understand the way of energy use and demand response of the residential occupants, it is important to understand the structure of energy used. Home Energy Management System (HEMS) may be used for understanding the pattern and the structure of energy used. HEMS is a visualization system of the energy usage by connecting the electrical equipment in the home and thereby automatically control the energy use in each device, so that the energy saving is achieved. Therefore, the HEMS can provide with the easiest way to understand the structure of energy use. The HEMS has entered the mainstream of the Japanese market. The objective of this study is to understand the pattern of energy saving and cost saving in different regions including Japan during HEMS use. To observe thermal comfort level of HEMS managed residential buildings in Japan, the field survey was made and altogether, 1534 votes from 37 occupants related to thermal comfort, occupants’ behaviors and clothing insulation were collected and analyzed. According to the result obtained, approximately 17.9% energy saving and 8.9% cost saving is possible if HEMS is applied effectively. We found the thermal sensation and overall comfort level of the occupants is high in the studied buildings. The occupants residing in those HEMS buildings are satisfied with the thermal environment and they have accepted it. Our study concluded that the significant reduction in Japanese residential energy use can be achieved by the proper utilization of the HEMS. Better thermal comfort is also possible with the use of HEMS if energy use is managed in a rationally effective manner.

Role of Non-Renewable and Renewable Energy for Sustainable Electricity Generation in Malaysia

The main objective of this paper is to give a comprehensive review of non-renewable energy and renewable energy utilization in Malaysia, including hydropower, solar photovoltaic, biomass and biogas technologies. Malaysia mainly depends on non-renewable energy (natural gas, coal and crude oil) for electricity generation. Therefore, this paper provides a comprehensive review of the energy sector and discusses diversification of electricity generation as a strategy for providing sustainable energy in Malaysia. Energy policies and strategies to protect the non-renewable energy utilization also are highlighted, focusing in the different sources of energy available for high and sustained economic growth. Emphasis is also placed on a discussion of the role of renewable energy as an alternative source for the increase of electricity supply security. It is now evident that to achieve sustainable development through renewable energy, energy policies and strategies have to be well designed and supported by the government, industries (firms), and individual or community participation. The hope is to create a positive impact on sustainable development through renewable sources for current and future generations.

A Feasibility and Implementation Model of Small-Scale Hydropower Development for Rural Electrification in South Africa: Design Chart Development

Small scale hydropower used to play a very important role in the provision of energy to urban and rural areas of South Africa. The national electricity grid, however, expanded and offered cheap, coal generated electricity and a large number of hydropower systems were decommissioned. Unfortunately, large numbers of households and communities will not be connected to the national electricity grid for the foreseeable future due to high cost of transmission and distribution systems to remote communities due to the relatively low electricity demand within rural communities and the allocation of current expenditure on upgrading and constructing of new coal fired power stations. This necessitates the development of feasible alternative power generation technologies. A feasibility and implementation model was developed to assist in designing and financially evaluating small-scale hydropower (SSHP) plants. Several sites were identified using the model. The SSHP plants were designed for the selected sites and the designs for the different selected sites were priced using pricing models (civil, mechanical and electrical aspects). Following feasibility studies done on the designed and priced SSHP plants, a feasibility analysis was done and a design chart developed for future similar potential SSHP plant projects. The methodology followed in conducting the feasibility analysis for other potential sites consisted of developing cost and income/saving formulae, developing net present value (NPV) formulae, Capital Cost Comparison Ratio (CCCR) and levelised cost formulae for SSHP projects for the different types of plant installations. It included setting up a model for the development of a design chart for a SSHP, calculating the NPV, CCCR and levelised cost for the different scenarios within the model by varying different parameters within the developed formulae, setting up the design chart for the different scenarios within the model and analyzing and interpreting results. From the interpretation of the develop design charts for feasible SSHP in can be seen that turbine and distribution line cost are the major influences on the cost and feasibility of SSHP. High head, short transmission line and islanded mini-grid SSHP installations are the most feasible and that the levelised cost of SSHP is high for low power generation sites. The main conclusion from the study is that the levelised cost of SSHP projects indicate that the cost of SSHP for low energy generation is high compared to the levelised cost of grid connected electricity supply; however, the remoteness of SSHP for rural electrification and the cost of infrastructure to connect remote rural communities to the local or national electricity grid provides a low CCCR and renders SSHP for rural electrification feasible on this basis.

Model the Off-Shore Ocean-Sea Waves to Generate Electric Power by Design of a Converting Device

In this paper, we will present a mathematical model to design a system able to generate electricity from ocean-sea waves. We will use the basic principles of the transfer of the energy potential of waves in a chamber to force the air inside a vertical or inclined cylindrical column, which is topped by a wind turbine to rotate the electric generator. The present mathematical model included a high number of variables such as the wave, height, width, length, velocity, and frequency, as well as others for the energy cylindrical column, like varying diameters and heights, and the wave chamber shape diameter and height. While for the wells wind turbine the variables included the number of blades, length, width, and clearance, as well as the rotor and tip radius. Additionally, the turbine rotor and blades must be made from the light and strong material for a smooth blade surface. The variables were too vast and high in number. Then the program was run successfully within the MATLAB and presented very good modeling results.

Electricity Generation from Renewables and Targets: An Application of Multivariate Statistical Techniques

Renewable energy is referred to as "clean energy" and common popular support for the use of renewable energy (RE) is to provide electricity with zero carbon dioxide emissions. This study provides useful insight into the European Union (EU) RE, especially, into electricity generation obtained from renewables, and their targets. The objective of this study is to identify groups of European countries, using multivariate statistical analysis and selected indicators. The hierarchical clustering method is used to decide the number of clusters for EU countries. The conducted statistical hierarchical cluster analysis is based on the Ward’s clustering method and squared Euclidean distances. Hierarchical cluster analysis identified eight distinct clusters of European countries. Then, non-hierarchical clustering (k-means) method was applied. Discriminant analysis was used to determine the validity of the results with data normalized by Z score transformation. To explore the relationship between the selected indicators, correlation coefficients were computed. The results of the study reveal the current situation of RE in European Union Member States.

The Use of Nuclear Generation to Provide Power System Stability

The decreasing use of fossil fuel power stations has a negative effect on the stability of the electricity systems in many countries. Nuclear power stations have traditionally provided minimal ancillary services to support the system but this must change in the future as they replace fossil fuel generators. This paper explains the development of the four most popular reactor types still in regular operation across the world which have formed the basis for most reactor development since their commercialisation in the 1950s. The use of nuclear power in four countries with varying levels of capacity provided by nuclear generators is investigated, using the primary frequency response provided by generators as a measure for the electricity networks stability, to assess the need for nuclear generators to provide additional support as their share of the generation capacity increases.

Study of Structure and Properties of Polyester/Carbon Blends for Technical Applications

Textile substrates are endowed with flexibility and ease of making–up, but are non-conductors of electricity. Conductive materials like carbon can be incorporated into textile structures to make flexible conductive materials. Such conductive textiles find applications as electrostatic discharge materials, electromagnetic shielding materials and flexible materials to carry current or signals. This work focuses on use of carbon fiber as conductor of electricity. Carbon fibers in staple or tow form can be incorporated in textile yarn structure to conduct electricity. The paper highlights the process for development of these conductive yarns of polyester/carbon using Friction spinning (DREF) as well as ring spinning. The optimized process parameters for processing hybrid structure of polyester with carbon tow on DREF spinning and polyester with carbon staple fiber using ring spinning have been presented. The studies have been linked to highlight the electrical conductivity of the developed yarns. Further, the developed yarns have been incorporated as weft in fabric and their electrical conductivity has been evaluated. The paper demonstrates the structure and properties of fabrics developed from such polyester/carbon blend yarns and their suitability as electrically dissipative fabrics.

Modeling, Analysis and Control of a Smart Composite Structure

In modern engineering, weight optimization has a priority during the design of structures. However, optimizing the weight can result in lower stiffness and less internal damping, causing the structure to become excessively prone to vibration. To overcome this problem, active or smart materials are implemented. The coupled electromechanical properties of smart materials, used in the form of piezoelectric ceramics in this work, make these materials well-suited for being implemented as distributed sensors and actuators to control the structural response. The smart structure proposed in this paper is composed of a cantilevered steel beam, an adhesive or bonding layer, and a piezoelectric actuator. The static deflection of the structure is derived as function of the piezoelectric voltage, and the outcome is compared to theoretical and experimental results from literature. The relation between the voltage and the piezoelectric moment at both ends of the actuator is also investigated and a reduced finite element model of the smart structure is created and verified. Finally, a linear controller is implemented and its ability to attenuate the vibration due to the first natural frequency is demonstrated.

Electrophysical and Thermoelectric Properties of Nano-scaled In2O3:Sn, Zn, Ga-Based Thin Films: Achievements and Limitations for Thermoelectric Applications

The thermoelectric properties of nano-scaled In2O3:Sn films deposited by spray pyrolysis are considered in the present report. It is shown that multicomponent In2O3:Sn-based films are promising material for the application in thermoelectric devices. It is established that the increase in the efficiency of thermoelectric conversion at CSn~5% occurred due to nano-scaled structure of the films studied and the effect of the grain boundary filtering of the low energy electrons. There are also analyzed the limitations that may appear during such material using in devices developed for the market of thermoelectric generators and refrigerators. Studies showed that the stability of nano-scaled film’s parameters is the main problem which can limit the application of these materials in high temperature thermoelectric converters.

Techno-Economic Analysis Framework for Wave Energy Conversion Schemes under South African Conditions: Modeling and Simulations

This paper presents a desktop study of comparing two different wave energy to electricity technologies (WECs) using a techno-economic approach. This techno-economic approach forms basis of a framework for rapid comparison of current and future technologies. The approach also seeks to assist in investment and strategic decision making expediting future deployment of wave energy harvesting in South Africa.