The firms involved in the exploration and production (E&P) of natural gas resources and crude oil play a crucial role in the energy sector and contribute to the economy. Exploration and production refer to discovering, drilling, and extracting natural gas resources and crude oil from beneath the earth’s surface. Exploration and production firms provide a base for the downstream companies to make crude oil consumable. The financial performance of the downstream companies depends on the cost efficiency of the E&P firms. The purpose of the study is to determine the relationship between the total resources and measures of financial performance. The study is based on secondary data and financial ratios, index numbers applied to get the financial performance, and variability of financial performance. Correlation is used to get the trend and quick impact of variability on the total assets on the financial measures in the short and long run. The study found that while return on total resources is positively influenced in the long run, profitability based on sales and short-term paying ability is negatively governed by the absolute quantity of expansion of all available resources. Although the long-term association is positive, there is a short-term lag in the positive increase of the total resources on the ROA. Overall, based on their average absolute amount of total resources, relatively, the mutual study of the mean growth rate of all resources and financial indicators of Indian E&P explore negativity.
{"title":"Financial Performance and Total Resources: Trend and sensitivity Analysis of Indian Oil Exploration and Production Companies","authors":"Anis Ali, Abdulrahman Alhassun, Nadeem Fatima","doi":"10.32479/ijeep.16189","DOIUrl":"https://doi.org/10.32479/ijeep.16189","url":null,"abstract":"The firms involved in the exploration and production (E&P) of natural gas resources and crude oil play a crucial role in the energy sector and contribute to the economy. Exploration and production refer to discovering, drilling, and extracting natural gas resources and crude oil from beneath the earth’s surface. Exploration and production firms provide a base for the downstream companies to make crude oil consumable. The financial performance of the downstream companies depends on the cost efficiency of the E&P firms. The purpose of the study is to determine the relationship between the total resources and measures of financial performance. The study is based on secondary data and financial ratios, index numbers applied to get the financial performance, and variability of financial performance. Correlation is used to get the trend and quick impact of variability on the total assets on the financial measures in the short and long run. The study found that while return on total resources is positively influenced in the long run, profitability based on sales and short-term paying ability is negatively governed by the absolute quantity of expansion of all available resources. Although the long-term association is positive, there is a short-term lag in the positive increase of the total resources on the ROA. Overall, based on their average absolute amount of total resources, relatively, the mutual study of the mean growth rate of all resources and financial indicators of Indian E&P explore negativity.","PeriodicalId":38194,"journal":{"name":"International Journal of Energy Economics and Policy","volume":" 27","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141000924","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Reducing pollutant emissions during the global energy transition from fossil fuels to renewables is a significant endeavor. Nonetheless, a significant portion of the Middle East (ME) economy continues to be based mostly on the extraction and use of fossil fuels, posing a threat to the environment in the area. Thus, the current study examined the impact of income growth, trade openness (TO), and the Renewable Energy Transition (RET) on CO2 emissions in 12 Middle East nations, from 2000 to 2019. The findings demonstrated that the ME area contains the Environmental Kuznets Curve (EKC). RET decreased emissions of CO2. Therefore, the transition to renewable energy reduced emissions in this ME region. On the other hand, TO enhances CO2 emissions. For the ME region, TO is concerned with the environment. The research recommends a quick RET to safeguard the environment from CO2 emissions.
{"title":"Renewable Energy Transition, Trade Openness, and CO2 Emissions Nexus in the Middle East","authors":"Nabil Maalel","doi":"10.32479/ijeep.15819","DOIUrl":"https://doi.org/10.32479/ijeep.15819","url":null,"abstract":"Reducing pollutant emissions during the global energy transition from fossil fuels to renewables is a significant endeavor. Nonetheless, a significant portion of the Middle East (ME) economy continues to be based mostly on the extraction and use of fossil fuels, posing a threat to the environment in the area. Thus, the current study examined the impact of income growth, trade openness (TO), and the Renewable Energy Transition (RET) on CO2 emissions in 12 Middle East nations, from 2000 to 2019. The findings demonstrated that the ME area contains the Environmental Kuznets Curve (EKC). RET decreased emissions of CO2. Therefore, the transition to renewable energy reduced emissions in this ME region. On the other hand, TO enhances CO2 emissions. For the ME region, TO is concerned with the environment. The research recommends a quick RET to safeguard the environment from CO2 emissions. ","PeriodicalId":38194,"journal":{"name":"International Journal of Energy Economics and Policy","volume":" 11","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140997995","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Natalia Ivaneth Luna Alvarino, Vladimir Sousa Santos, Jairo Ricardo González
This paper presents a comprehensive design methodology for photovoltaic systems (PVS) integrated into industrial electrical systems (IES), with a specific focus on preserving power quality (PQ). The 10-step methodology, ranging from initial interviews to detailed technical, energy, and economic assessments, is novel for its multi-factorial approach that combines an Excel application with ETAP software, prioritizing considerations for PQ. Evaluation across four scenarios demonstrated varying outcomes. In the worst-case technical and energy scenario, PVS installation on Point of Common Connection without PQ mitigation led to significant increases in harmonics and no reduction in energy consumption. Conversely, the best technical and energy scenario involved distributing PVS across load buses with PQ mitigation, resulting in a 5% reduction in energy consumption and 27% lower energy losses. The economic evaluation indicated a three-year payback period in all scenarios, primarily attributed to increased costs for PQ problem mitigation equipment. It was also observed that reducing losses and energy consumption limits the economic benefits of installing PVS in IES. This methodology serves as a valuable guide for designing PVS in IES, incorporating technical, energy, economic, and PQ considerations.
{"title":"Design of Photovoltaic Systems in Industrial Electrical Systems Considering Power Quality","authors":"Natalia Ivaneth Luna Alvarino, Vladimir Sousa Santos, Jairo Ricardo González","doi":"10.32479/ijeep.15770","DOIUrl":"https://doi.org/10.32479/ijeep.15770","url":null,"abstract":"This paper presents a comprehensive design methodology for photovoltaic systems (PVS) integrated into industrial electrical systems (IES), with a specific focus on preserving power quality (PQ). The 10-step methodology, ranging from initial interviews to detailed technical, energy, and economic assessments, is novel for its multi-factorial approach that combines an Excel application with ETAP software, prioritizing considerations for PQ. Evaluation across four scenarios demonstrated varying outcomes. In the worst-case technical and energy scenario, PVS installation on Point of Common Connection without PQ mitigation led to significant increases in harmonics and no reduction in energy consumption. Conversely, the best technical and energy scenario involved distributing PVS across load buses with PQ mitigation, resulting in a 5% reduction in energy consumption and 27% lower energy losses. The economic evaluation indicated a three-year payback period in all scenarios, primarily attributed to increased costs for PQ problem mitigation equipment. It was also observed that reducing losses and energy consumption limits the economic benefits of installing PVS in IES. This methodology serves as a valuable guide for designing PVS in IES, incorporating technical, energy, economic, and PQ considerations.","PeriodicalId":38194,"journal":{"name":"International Journal of Energy Economics and Policy","volume":" 8","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140998761","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Shaha Faisal, A. Khan, Zehra Zulfikar, Salim M. Bafaqeer
This study examines the Green Vision of Saudi Arabia and its efforts towards achieving sustainability in various domains such as energy, economy, tourism, and carbon emissions. The research uses time-series data from 2002 to 2020 to analyze the dynamic impacts of these variables. To achieve this, it employs a co-integration regression test, Granger causality relationships, and one-way and two-way causal effects between carbon emissions, tourism, economic growth, and energy use. The findings of the study provide valuable insights into the challenges and opportunities for sustainability in the kingdom, considering the goals of SDGs 8 and 13. This research contributes to the ongoing discourse on sustainable development in Saudi Arabia and offers significant insights for lawmakers, entrepreneurs, and researchers to influence the country's future direction. The research aims to guide strategic decision-making in line with Saudi Arabia's commitment to achieving a sustainable and resilient future by examining the interconnections between energy, economic growth, tourism, and carbon emissions.
{"title":"Saudi Arabia’s Green Vision: Examining the Kingdom’s Path to Sustainability, Covering Energy, Economy, Tourism, and Carbon Dynamics","authors":"Shaha Faisal, A. Khan, Zehra Zulfikar, Salim M. Bafaqeer","doi":"10.32479/ijeep.15784","DOIUrl":"https://doi.org/10.32479/ijeep.15784","url":null,"abstract":"This study examines the Green Vision of Saudi Arabia and its efforts towards achieving sustainability in various domains such as energy, economy, tourism, and carbon emissions. The research uses time-series data from 2002 to 2020 to analyze the dynamic impacts of these variables. To achieve this, it employs a co-integration regression test, Granger causality relationships, and one-way and two-way causal effects between carbon emissions, tourism, economic growth, and energy use. The findings of the study provide valuable insights into the challenges and opportunities for sustainability in the kingdom, considering the goals of SDGs 8 and 13. This research contributes to the ongoing discourse on sustainable development in Saudi Arabia and offers significant insights for lawmakers, entrepreneurs, and researchers to influence the country's future direction. The research aims to guide strategic decision-making in line with Saudi Arabia's commitment to achieving a sustainable and resilient future by examining the interconnections between energy, economic growth, tourism, and carbon emissions.","PeriodicalId":38194,"journal":{"name":"International Journal of Energy Economics and Policy","volume":" 92","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141000427","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The objective of this study is to evaluate the effectiveness of renewable energy in combating climate change and supporting adaptation efforts. By applying the ARDL model to data from 58 countries spanning the period from 1990 to 2022, this study sheds light on the opportunities and challenges associated with this involved relationship. The results indicate that renewable energy plays a significant role in reducing greenhouse gas emissions and mitigating temperature anomalies. Specifically, wind energy, biomass, geothermal energy, solar energy, and waste utilization demonstrate a positive correlation with greenhouse gas emission reduction. Moreover, wind energy, solar energy, waste utilization, and the proportion of renewable energy in primary energy consumption are also linked to a decrease in temperature anomalies. These findings emphasize the importance of implementing concrete measures such as promoting sustainable transportation, ensuring sustainable management of natural resources, raising awareness and enhancing education, increasing subsidies and incentives for renewable energy and strengthening regulations on greenhouse gas emissions.
{"title":"Assessing the Impact of Renewable Energy in Mitigating Climate Change: A Comprehensive Study on Effectiveness and Adaptation Support","authors":"Ilyes Abidi, Mariem Nsaibi","doi":"10.32479/ijeep.15769","DOIUrl":"https://doi.org/10.32479/ijeep.15769","url":null,"abstract":"The objective of this study is to evaluate the effectiveness of renewable energy in combating climate change and supporting adaptation efforts. By applying the ARDL model to data from 58 countries spanning the period from 1990 to 2022, this study sheds light on the opportunities and challenges associated with this involved relationship. The results indicate that renewable energy plays a significant role in reducing greenhouse gas emissions and mitigating temperature anomalies. Specifically, wind energy, biomass, geothermal energy, solar energy, and waste utilization demonstrate a positive correlation with greenhouse gas emission reduction. Moreover, wind energy, solar energy, waste utilization, and the proportion of renewable energy in primary energy consumption are also linked to a decrease in temperature anomalies. These findings emphasize the importance of implementing concrete measures such as promoting sustainable transportation, ensuring sustainable management of natural resources, raising awareness and enhancing education, increasing subsidies and incentives for renewable energy and strengthening regulations on greenhouse gas emissions.","PeriodicalId":38194,"journal":{"name":"International Journal of Energy Economics and Policy","volume":" 37","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140999421","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study quantified the impact of climate on the international tourism demand in China. Due to rising awareness and urgency to combat climate change, there is a growing need to better grasp the possible implications and the risk of climate change to the tourism industry. The tourists’ travel decision can be influenced by both climatic and non-climatic factors, and thus this study has integrated both factors into the models. The climatic variable is represented by Tourism Climate Index (TCI) and Holiday Climate Index (HCI) while the selected non-climatic determinants are tourists’ income, tourism price, exchange rate and transportation cost. The empirical findings showed that climate conditions significantly and adversely affect China’s tourism demand. Tourists’ income level, as expected, positively affects their decision to travel to China. Meanwhile, the tourism price, exchange rate, and transportation cost negatively impact China’s tourism industry. Although some valuable results have been found, more works are required to understand its long-haul significance to the tourism industry, especially during extreme events such as extreme weathers, pandemics, financial crises and etc.
{"title":"The Impact of Climate Change on Tourism Demand in China","authors":"Meng-Chang Jong, Chin-Hong Puah, M. Arip","doi":"10.32479/ijeep.14149","DOIUrl":"https://doi.org/10.32479/ijeep.14149","url":null,"abstract":"This study quantified the impact of climate on the international tourism demand in China. Due to rising awareness and urgency to combat climate change, there is a growing need to better grasp the possible implications and the risk of climate change to the tourism industry. The tourists’ travel decision can be influenced by both climatic and non-climatic factors, and thus this study has integrated both factors into the models. The climatic variable is represented by Tourism Climate Index (TCI) and Holiday Climate Index (HCI) while the selected non-climatic determinants are tourists’ income, tourism price, exchange rate and transportation cost. The empirical findings showed that climate conditions significantly and adversely affect China’s tourism demand. Tourists’ income level, as expected, positively affects their decision to travel to China. Meanwhile, the tourism price, exchange rate, and transportation cost negatively impact China’s tourism industry. Although some valuable results have been found, more works are required to understand its long-haul significance to the tourism industry, especially during extreme events such as extreme weathers, pandemics, financial crises and etc. ","PeriodicalId":38194,"journal":{"name":"International Journal of Energy Economics and Policy","volume":" 22","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140999964","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Coal, the fundamental element of the industrial revolution, is widely used for energy production in many countries. The use of coal in energy production continues in countries that have coal reserves, as well as in countries that are rapidly transitioning to renewable energy production. The aim of this study is to investigate the causal relationship between coal production and general energy consumption in Russia and Türkiye, which are among the countries that consume heavy coal. In the article, the relationship between the variables in these countries was tested with Granger causality analysis. According to the results of the analysis, it was determined that there was a one-sided causality relationship from coal production to energy consumption in Russia. When the findings of the study were examined from the perspective of Türkiye, no causality relationship was found between the variables.
{"title":"Coal Energy in Energy Consumption: An Empirical Analysis in the Case of Russia and Türkiye","authors":"Bahman Huseynli̇","doi":"10.32479/ijeep.15531","DOIUrl":"https://doi.org/10.32479/ijeep.15531","url":null,"abstract":"Coal, the fundamental element of the industrial revolution, is widely used for energy production in many countries. The use of coal in energy production continues in countries that have coal reserves, as well as in countries that are rapidly transitioning to renewable energy production. The aim of this study is to investigate the causal relationship between coal production and general energy consumption in Russia and Türkiye, which are among the countries that consume heavy coal. In the article, the relationship between the variables in these countries was tested with Granger causality analysis. According to the results of the analysis, it was determined that there was a one-sided causality relationship from coal production to energy consumption in Russia. When the findings of the study were examined from the perspective of Türkiye, no causality relationship was found between the variables.","PeriodicalId":38194,"journal":{"name":"International Journal of Energy Economics and Policy","volume":" 39","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140998389","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
R. Inglesi‐Lotz, Anna Maria Oosthuizen, Sharifa Jumaniyazova, Bekhzod Kuziboev, Jie Liu
The study is novel to contribute to the literature investigating the relationship among CO2 emissions, women governance, economic development, fossil fuel energy consumption and renewable energy consumption, using a balanced panel dataset of 27 European Union and 4 Central Asian countries over the period 1996-2020. As econometric tools, panel quantile and threshold regression models are employed. Overall, the quantile results document that women governance help to mitigate climate change both in European Union and Central Asia. Moreover, threshold findings suggest that women governance negatively impact on CO2 emissions in European Union and Central Asia when economic growth is higher than 9.903 percent. Policy implications are proposed to enhance women governance in European Union and Central Asia.
{"title":"Exploring the Impact of Women Governance on CO2 Emissions in the European Union and Central Asia","authors":"R. Inglesi‐Lotz, Anna Maria Oosthuizen, Sharifa Jumaniyazova, Bekhzod Kuziboev, Jie Liu","doi":"10.32479/ijeep.15933","DOIUrl":"https://doi.org/10.32479/ijeep.15933","url":null,"abstract":"The study is novel to contribute to the literature investigating the relationship among CO2 emissions, women governance, economic development, fossil fuel energy consumption and renewable energy consumption, using a balanced panel dataset of 27 European Union and 4 Central Asian countries over the period 1996-2020. As econometric tools, panel quantile and threshold regression models are employed. Overall, the quantile results document that women governance help to mitigate climate change both in European Union and Central Asia. Moreover, threshold findings suggest that women governance negatively impact on CO2 emissions in European Union and Central Asia when economic growth is higher than 9.903 percent. Policy implications are proposed to enhance women governance in European Union and Central Asia.","PeriodicalId":38194,"journal":{"name":"International Journal of Energy Economics and Policy","volume":"19 8","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141001476","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study aims to analyze the relationship between the use of the internet, which has an important place in information and communication, and air pollution (Carbon Dioxide Emissions-CO2). In this context, the relationship between the variables for the 1994-2019 period in 28 OECD countries selected was tested with the help of a panel data analysis with Fourier functions (Fourier unit root test, panel Fourier cointegration test and panel Fourier causality test). The results of the analysis show that internet use reduces air pollution, while economic growth increases air pollution. The results of the Panel Fourier Granger Causality test revealed a bidirectional causality relationship between internet use and air pollution and a unidirectional causality relationship from air pollution to economic growth throughout the panel. The analysis results present a policy proposal to the governments of OECD countries that they can reduce air pollution by investing in information and communication technologies (ICT) in their economic growth processes.
{"title":"Does Internet Use Affect Air Pollution? Evidence from OECD Countries","authors":"Unzule Kurt, Cuneyt Kilic, Ahmet Tayfur Akcan","doi":"10.32479/ijeep.16067","DOIUrl":"https://doi.org/10.32479/ijeep.16067","url":null,"abstract":"This study aims to analyze the relationship between the use of the internet, which has an important place in information and communication, and air pollution (Carbon Dioxide Emissions-CO2). In this context, the relationship between the variables for the 1994-2019 period in 28 OECD countries selected was tested with the help of a panel data analysis with Fourier functions (Fourier unit root test, panel Fourier cointegration test and panel Fourier causality test). The results of the analysis show that internet use reduces air pollution, while economic growth increases air pollution. The results of the Panel Fourier Granger Causality test revealed a bidirectional causality relationship between internet use and air pollution and a unidirectional causality relationship from air pollution to economic growth throughout the panel. The analysis results present a policy proposal to the governments of OECD countries that they can reduce air pollution by investing in information and communication technologies (ICT) in their economic growth processes.","PeriodicalId":38194,"journal":{"name":"International Journal of Energy Economics and Policy","volume":" 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140999309","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This research examined energy sources that can be employed in a region to assist policymakers in determining energy priorities. Three key components were analyzed in this research to rank these energy sources: Levelized Cost of Energy (LCOE), CO2 emissions, and power density. A combination of multi-criteria decision-making (MCDM) methods, namely the Analytical Hierarchy Process (AHP)-Entropy-the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS), was used to assess these criteria, which had not been previously applied to rank energy sources. Additionally, the Monte-Carlo method was utilized to detect changes in sensitivity throughout the rankings. Results of the study indicated that gas energy topped the list, followed by Solar Photovoltaic (PV)-crystalline, geothermal, wind, nuclear, Solar PV Commercial & Industrial (C&I), Solar Thermal Tower with Storage, and residential PV rooftop solar. Moreover, nuclear energy ranked the highest when looking at the sensitivity of parameters, while utility-scale Solar PV and wind energy ranked the next highest. Thus, this research can be used to increase objectivity in the assessment and selection of power generation technology to be implemented.
{"title":"A Combined Ranking and Sensitivity Analysis of Power Generation Using Multi-Criteria Decision-Making and Monte-Carlo Simulation","authors":"Eko Adhi Setiawan, Arighi Radevito, Khairiah Dewi","doi":"10.32479/ijeep.15725","DOIUrl":"https://doi.org/10.32479/ijeep.15725","url":null,"abstract":"This research examined energy sources that can be employed in a region to assist policymakers in determining energy priorities. Three key components were analyzed in this research to rank these energy sources: Levelized Cost of Energy (LCOE), CO2 emissions, and power density. A combination of multi-criteria decision-making (MCDM) methods, namely the Analytical Hierarchy Process (AHP)-Entropy-the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS), was used to assess these criteria, which had not been previously applied to rank energy sources. Additionally, the Monte-Carlo method was utilized to detect changes in sensitivity throughout the rankings. Results of the study indicated that gas energy topped the list, followed by Solar Photovoltaic (PV)-crystalline, geothermal, wind, nuclear, Solar PV Commercial & Industrial (C&I), Solar Thermal Tower with Storage, and residential PV rooftop solar. Moreover, nuclear energy ranked the highest when looking at the sensitivity of parameters, while utility-scale Solar PV and wind energy ranked the next highest. Thus, this research can be used to increase objectivity in the assessment and selection of power generation technology to be implemented.","PeriodicalId":38194,"journal":{"name":"International Journal of Energy Economics and Policy","volume":" 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140998841","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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