Due to the intermittent nature of renewable energy sources, energy storage systems are required to meet the demands of consumers when conditions for power generation is not optimum, with respect to, the energy generation systems used. The purpose of this study is to establish the ideal energy storage system to meet the demands of an African microgrid, where an African Microgrid is described as a microgrid using energy sources and man-power indigenous to Africa. There are many benefits that microgrids yield over traditional central grids. Central grids consist of a series of networks which connects consumers to energy suppliers, however when the energy supplier fails to supply energy, many consumers are affected. A microgrid, which may or may not be connected to the central grid, serves a smaller number of consumers than the traditional central grid, however, should a fault occur in the power generation or distribution process, fewer people will be affected. These advantages become ideal in areas where storms are prevalent and the microgrid can disconnect from the main grid, using its respective means of energy production to serve its designated consumers. Microgrids are also able to produce energy via means of generators, renewable resources and batteries. This paper will compare thermal, flywheel and supercapacitor energy storage systems. These systems will be coupled to a power generation system that serves communityof100households, with a daily use of5kWh, in the country with the lowest electrification rate in Burundi. The energy storage systems will be modeled using HOMER where the variables such as, nominal capacities, overall efficiencies, lifespan, energy input and output, and cost will be measured and compared. The energy storage system with the greatest attributes, with respect to the variables mentioned, will be deemed the ideal energy storage mechanism for an African Microgrid.
{"title":"Comparison of Thermal, Flywheel and Supercapacitor Energy Storage for an African Microgrid","authors":"T. Hendricks, M. Adonis","doi":"10.2139/ssrn.3735384","DOIUrl":"https://doi.org/10.2139/ssrn.3735384","url":null,"abstract":"Due to the intermittent nature of renewable energy sources, energy storage systems are required to meet the demands of consumers when conditions for power generation is not optimum, with respect to, the energy generation systems used. The purpose of this study is to establish the ideal energy storage system to meet the demands of an African microgrid, where an African Microgrid is described as a microgrid using energy sources and man-power indigenous to Africa. There are many benefits that microgrids yield over traditional central grids. Central grids consist of a series of networks which connects consumers to energy suppliers, however when the energy supplier fails to supply energy, many consumers are affected. A microgrid, which may or may not be connected to the central grid, serves a smaller number of consumers than the traditional central grid, however, should a fault occur in the power generation or distribution process, fewer people will be affected. These advantages become ideal in areas where storms are prevalent and the microgrid can disconnect from the main grid, using its respective means of energy production to serve its designated consumers. Microgrids are also able to produce energy via means of generators, renewable resources and batteries. This paper will compare thermal, flywheel and supercapacitor energy storage systems. These systems will be coupled to a power generation system that serves communityof100households, with a daily use of5kWh, in the country with the lowest electrification rate in Burundi. The energy storage systems will be modeled using HOMER where the variables such as, nominal capacities, overall efficiencies, lifespan, energy input and output, and cost will be measured and compared. The energy storage system with the greatest attributes, with respect to the variables mentioned, will be deemed the ideal energy storage mechanism for an African Microgrid.","PeriodicalId":431619,"journal":{"name":"SRPN: Other Politics & Energy (Topic)","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128554495","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}
There is no gainsaying that energy enables growth in both developing and developed economy contexts. The innovations that lead to (i) the roll-out of long-distance energy networks operated by vertically-integrated utilities as a means of delivering affordable and reliable energy, and (ii) viable wholesale markets for large-scale demand points such as steel and manufacturing industries; has been key in enabling industrialization and modern standards of living over the past century. In several jurisdictions, the traditional energy supply systems gradually gave way to the paradigm of creating competitive wholesale markets complemented by open access to those networks and now more recently an increasing array of distributed energy resources and/or variable renewable energy systems as part of the drive towards de-carbonization and sustainability. Before COVID-19 struck, several countries in Sub-Saharan Africa (SSA) were grappling with the demands of managing rapid urbanization and economic development, reducing poverty, raising standards of living, and economic diversification to mitigate the impact of the boom and bust price cycles of exported resources (especially oil) in the international markets. Arguably, a key factor in the medium to the long-term realization of various economic and development aspirations will be the degree of access to affordable and reliable modern energy services. Notably, several Sub-Saharan African countries are adopting such paradigms and approaches to energy, even though there are still considerable institutional developments and investments required to achieve the desired objectives of secure, reliable, and affordable energy access for all.[2] From the late 1990s and 2000s to date, countries such as Nigeria, South Africa, Kenya, etc. facilitated the participation of privately-owned Independent Power Producers (IPP) to operate along-side state-owned utilities. Others such as Senegal and Ghana as discussed in this paper are likewise implementing reforms to their traditional utility model for electricity supply and seeking to develop institutions such as independent system operators to carry out responsibilities for least-cost generation planning, power procurement, system operation, and power dispatch, and transmission and distribution planning. In the unfolding drive towards universal energy access and a more sustainable path to support rapid economic development and growth; the legal framework and regulatory institutions have a pivotal role to play. It is important to have a coherent, clear and efficient framework comprising- well-equipped and resourceful independent institution(s) for economic regulation, creating an equitable and rules-based playing field for energy utilities, consumers, and private operators; and cost-reflective tariffs for utilities, while still ensuring the obligation to serve and provide reliable and affordable energy. Given the growing inclination for decentralized systems using natural gas
{"title":"Emerging Trends in Resource-Rich Sub-Saharan Africa and a Spotlight on the Nigerian Transitional Energy Market","authors":"T. Oyewunmi, Ivie Ehanmo","doi":"10.2139/ssrn.3679532","DOIUrl":"https://doi.org/10.2139/ssrn.3679532","url":null,"abstract":"There is no gainsaying that energy enables growth in both developing and developed economy contexts. The innovations that lead to (i) the roll-out of long-distance energy networks operated by vertically-integrated utilities as a means of delivering affordable and reliable energy, and (ii) viable wholesale markets for large-scale demand points such as steel and manufacturing industries; has been key in enabling industrialization and modern standards of living over the past century. In several jurisdictions, the traditional energy supply systems gradually gave way to the paradigm of creating competitive wholesale markets complemented by open access to those networks and now more recently an increasing array of distributed energy resources and/or variable renewable energy systems as part of the drive towards de-carbonization and sustainability. \u0000 \u0000Before COVID-19 struck, several countries in Sub-Saharan Africa (SSA) were grappling with the demands of managing rapid urbanization and economic development, reducing poverty, raising standards of living, and economic diversification to mitigate the impact of the boom and bust price cycles of exported resources (especially oil) in the international markets. Arguably, a key factor in the medium to the long-term realization of various economic and development aspirations will be the degree of access to affordable and reliable modern energy services. Notably, several Sub-Saharan African countries are adopting such paradigms and approaches to energy, even though there are still considerable institutional developments and investments required to achieve the desired objectives of secure, reliable, and affordable energy access for all.[2] From the late 1990s and 2000s to date, countries such as Nigeria, South Africa, Kenya, etc. facilitated the participation of privately-owned Independent Power Producers (IPP) to operate along-side state-owned utilities. Others such as Senegal and Ghana as discussed in this paper are likewise implementing reforms to their traditional utility model for electricity supply and seeking to develop institutions such as independent system operators to carry out responsibilities for least-cost generation planning, power procurement, system operation, and power dispatch, and transmission and distribution planning. \u0000 \u0000In the unfolding drive towards universal energy access and a more sustainable path to support rapid economic development and growth; the legal framework and regulatory institutions have a pivotal role to play. It is important to have a coherent, clear and efficient framework comprising- well-equipped and resourceful independent institution(s) for economic regulation, creating an equitable and rules-based playing field for energy utilities, consumers, and private operators; and cost-reflective tariffs for utilities, while still ensuring the obligation to serve and provide reliable and affordable energy. Given the growing inclination for decentralized systems using natural gas","PeriodicalId":431619,"journal":{"name":"SRPN: Other Politics & Energy (Topic)","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129088385","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}
[enter Abstract Body]Engine oil is lubricating oil that has been used to reduce friction between moving parts, and as a result of such use, physical contamination and chemical impurities of it have occurred. Waste lubricant oil is one of the most serious pollutants that are generated in most areas of our world. Likewise, in Jimma town, used lubricating oils that are disposed from private garages and other government institutions are a source of suffering for the surrounding societies. This is mainly because of waste lubricating oils are one of the major contributing factors for environmental pollution. Many scientific studies have also indicated that because of ineffective disposal mechanisms, waste lubricating oils have been causing serious environmental challenge and harmful health issue. Cognizant to this fact, this thesis attempts to make an analysis of the processes of converting waste oil into more valuable products such as fuel. Among others, the main way that the researcher had practised for recycling of used lubricating oils is treating by pyrolysis process, which consists of recovering the original base oil to be reused in the formulation of new products or generate different product from its original base like fuels. To achieve the required result, multivariate experimental practices were adopted for this study. The system adopted in the experiment was covering conversion of the waste engine oil in to fuel product by pyrolysis with pre or post-chemical treatment. Besides, the energy source used for conducting the process was solar thermal energy using parabolic dish collector. Following experimental analysis in different procedures, the fuels which had different calorific value (characterization was performed by Geological Survey of Ethiopia, Geochemical Laboratory Directorates) were generated. The result of this experimental study indicated that from the sampled eight experiments, the best fuel which can be used for cooking stove that has 44,678.88 KJ/Kg calorific value, 840 Kg/m3 density, 3.65 mm2/s kinematic viscosity and 52oC flash point was found. It has been concluded that, production of fuel from waste engine oil using solar thermal pyrolysis is a profitable business by replacing kerosene which is currently imported from abroad and solving environmental defects which have been caused due o improper handling of WEO.
{"title":"Recycling of Used Engine Oil for Cooking Fuel Using Solar Thermal Pyrolysis","authors":"Behiwot Tilahun, Venkata, Ephrem","doi":"10.2139/ssrn.3710661","DOIUrl":"https://doi.org/10.2139/ssrn.3710661","url":null,"abstract":"[enter Abstract Body]Engine oil is lubricating oil that has been used to reduce friction between moving parts, and as a result of such use, physical contamination and chemical impurities of it have occurred. Waste lubricant oil is one of the most serious pollutants that are generated in most areas of our world. Likewise, in Jimma town, used lubricating oils that are disposed from private garages and other government institutions are a source of suffering for the surrounding societies. This is mainly because of waste lubricating oils are one of the major contributing factors for environmental pollution. Many scientific studies have also indicated that because of ineffective disposal mechanisms, waste lubricating oils have been causing serious environmental challenge and harmful health issue. Cognizant to this fact, this thesis attempts to make an analysis of the processes of converting waste oil into more valuable products such as fuel. Among others, the main way that the researcher had practised for recycling of used lubricating oils is treating by pyrolysis process, which consists of recovering the original base oil to be reused in the formulation of new products or generate different product from its original base like fuels. To achieve the required result, multivariate experimental practices were adopted for this study. The system adopted in the experiment was covering conversion of the waste engine oil in to fuel product by pyrolysis with pre or post-chemical treatment. Besides, the energy source used for conducting the process was solar thermal energy using parabolic dish collector. Following experimental analysis in different procedures, the fuels which had different calorific value (characterization was performed by Geological Survey of Ethiopia, Geochemical Laboratory Directorates) were generated. The result of this experimental study indicated that from the sampled eight experiments, the best fuel which can be used for cooking stove that has 44,678.88 KJ/Kg calorific value, 840 Kg/m3 density, 3.65 mm2/s kinematic viscosity and 52oC flash point was found. It has been concluded that, production of fuel from waste engine oil using solar thermal pyrolysis is a profitable business by replacing kerosene which is currently imported from abroad and solving environmental defects which have been caused due o improper handling of WEO.","PeriodicalId":431619,"journal":{"name":"SRPN: Other Politics & Energy (Topic)","volume":"82 1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127454866","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}
As renewable energy depends on meteorological shocks and is non-controllable, the overall energy production becomes riskier with the rising renewable share. Although this has led to a renewed interest in storage technologies, not much consideration has been given to energy storage due to precautionary motives. In our study, we look at to what extent a convex marginal utility (prudence) and a convex marginal cost (frugality) can spur precautionary energy storage. We set up a simple theoretical model of energy consumption and production with intermittent renewable sources, dispatchable systems, and energy storage. First, we characterize the optimum and demonstrate how prudence and frugality can lead to higher levels of energy storage. By applying our findings to perfectly competitive markets, we further show that prudence and frugality increase the market energy price through higher demand for energy storage and decrease price volatility. Our analysis can have implications for inventory decisions in various other industries where firms face capacity constraints and are exposed to production risks.
{"title":"Precautionary Storage in Electricity Markets","authors":"Tunç Durmaz","doi":"10.2139/ssrn.2738004","DOIUrl":"https://doi.org/10.2139/ssrn.2738004","url":null,"abstract":"As renewable energy depends on meteorological shocks and is non-controllable, the overall energy production becomes riskier with the rising renewable share. Although this has led to a renewed interest in storage technologies, not much consideration has been given to energy storage due to precautionary motives. In our study, we look at to what extent a convex marginal utility (prudence) and a convex marginal cost (frugality) can spur precautionary energy storage. We set up a simple theoretical model of energy consumption and production with intermittent renewable sources, dispatchable systems, and energy storage. First, we characterize the optimum and demonstrate how prudence and frugality can lead to higher levels of energy storage. By applying our findings to perfectly competitive markets, we further show that prudence and frugality increase the market energy price through higher demand for energy storage and decrease price volatility. Our analysis can have implications for inventory decisions in various other industries where firms face capacity constraints and are exposed to production risks.","PeriodicalId":431619,"journal":{"name":"SRPN: Other Politics & Energy (Topic)","volume":"47 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-02-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126720663","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 paper investigates the effects of different types of cooking fuels on the technical efficiency of household meal production in rural India. Rural households in India use for cooking either traditional fuels like firewood, dung, crop residue, and coal or modern fuels like liquefied petroleum gas (LPG) and kerosene, or a combination of both traditional and modern fuels. Using the stochastic frontier method, this paper estimates the influence of different types of cooking fuel and other household level characteristics on the technical efficiency of household meal production. We use a representative sample of 3880 rural households from the India Human Development Survey, 2008. Our results indicate that efficiency of meal preparation is significantly higher when households use either a traditional or a combination of both traditional and modern fuels than if they use modern fuels alone. Thus, results of this paper shed light on reasons other than cost behind the overwhelming popularity of traditional fuels in spite of their adverse health and environmental effects. This result is likely to be driven by the capacity constraint imposed by LPG and kerosene burners in cooking a large quantity of food at a time. Our study identifies use of traditional fuel as a viable option for reducing energy poverty in rural India, and recommends extensive policy for supplying improved wood burning cook stoves and afforestation to reduce the harmful pollution effects of open fire. The policy makers should also emphasize on provision of biogas plant and biomass gasifier along with afforestation. Further, our study recognizes the need for developing and supplying more efficient cooking stoves for modern fuels to promote higher use of clean energy sources. Our results also suggest policy intervention in improving women’s education, household income, provision of ration card, and providing government support in acquiring improved cooking stoves for increasing efficiency of meal production at the household level.
{"title":"What Makes Rural Households Use Traditional Fuel? Empirical Evidence from India","authors":"Aditi Bhattacharyya, Daisy Das","doi":"10.2139/ssrn.2753230","DOIUrl":"https://doi.org/10.2139/ssrn.2753230","url":null,"abstract":"This paper investigates the effects of different types of cooking fuels on the technical efficiency of household meal production in rural India. Rural households in India use for cooking either traditional fuels like firewood, dung, crop residue, and coal or modern fuels like liquefied petroleum gas (LPG) and kerosene, or a combination of both traditional and modern fuels. Using the stochastic frontier method, this paper estimates the influence of different types of cooking fuel and other household level characteristics on the technical efficiency of household meal production. We use a representative sample of 3880 rural households from the India Human Development Survey, 2008. Our results indicate that efficiency of meal preparation is significantly higher when households use either a traditional or a combination of both traditional and modern fuels than if they use modern fuels alone. Thus, results of this paper shed light on reasons other than cost behind the overwhelming popularity of traditional fuels in spite of their adverse health and environmental effects. This result is likely to be driven by the capacity constraint imposed by LPG and kerosene burners in cooking a large quantity of food at a time. Our study identifies use of traditional fuel as a viable option for reducing energy poverty in rural India, and recommends extensive policy for supplying improved wood burning cook stoves and afforestation to reduce the harmful pollution effects of open fire. The policy makers should also emphasize on provision of biogas plant and biomass gasifier along with afforestation. Further, our study recognizes the need for developing and supplying more efficient cooking stoves for modern fuels to promote higher use of clean energy sources. Our results also suggest policy intervention in improving women’s education, household income, provision of ration card, and providing government support in acquiring improved cooking stoves for increasing efficiency of meal production at the household level.","PeriodicalId":431619,"journal":{"name":"SRPN: Other Politics & Energy (Topic)","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-12-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132611823","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}
We evaluate a large-scale field deployment in which close to 7,000 households subject to time-of-using electricity pricing were provided with an in-home display that provides real-time feedback on electricity consumption and price. We find that receipt of the device results in a reduction in average electricity consumption of about 3%, with this effect roughly constant across hours of the day. We find evidence that households respond to this information in part by forming habits rather than adjusting their load-shifting behavior. We also find that real-time information has an ambiguous effect on household responsiveness to electricity prices, counter to existing literature where information increases responsiveness to price.
{"title":"Information Provision, Market Incentives, and Household Electricity Consumption: Evidence from a Large-Scale Field Trial","authors":"Steve Martin, N. Rivers","doi":"10.2139/ssrn.2703947","DOIUrl":"https://doi.org/10.2139/ssrn.2703947","url":null,"abstract":"We evaluate a large-scale field deployment in which close to 7,000 households subject to time-of-using electricity pricing were provided with an in-home display that provides real-time feedback on electricity consumption and price. We find that receipt of the device results in a reduction in average electricity consumption of about 3%, with this effect roughly constant across hours of the day. We find evidence that households respond to this information in part by forming habits rather than adjusting their load-shifting behavior. We also find that real-time information has an ambiguous effect on household responsiveness to electricity prices, counter to existing literature where information increases responsiveness to price.","PeriodicalId":431619,"journal":{"name":"SRPN: Other Politics & Energy (Topic)","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-12-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132715798","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 market power analysis in electricity market is relevant for understanding the competitive development of the industry’s restructuring and the liberalization process. The paper analyzes the market power exercised by power generators in the Italian wholesale electricity market. Following the approach of Wolak (2003, 2009), the extent of market power is measured using the Lerner index computed as the inverse of arc elasticity of the residual demand faced by each Cournot competitors. Then, the market supply curves have been adjusted to entail market power effects and the new market resolutions were derived. The new equilibrium prices are the competitive ones and represent the market clearing price that would have been if the electricity market was competitive and the effects of unilateral market power were removed.
{"title":"Competitive Equilibrium in the Italian Wholesale Electricity Market","authors":"","doi":"10.2139/SSRN.2620643","DOIUrl":"https://doi.org/10.2139/SSRN.2620643","url":null,"abstract":"The market power analysis in electricity market is relevant for understanding the competitive development of the industry’s restructuring and the liberalization process. The paper analyzes the market power exercised by power generators in the Italian wholesale electricity market. Following the approach of Wolak (2003, 2009), the extent of market power is measured using the Lerner index computed as the inverse of arc elasticity of the residual demand faced by each Cournot competitors. Then, the market supply curves have been adjusted to entail market power effects and the new market resolutions were derived. The new equilibrium prices are the competitive ones and represent the market clearing price that would have been if the electricity market was competitive and the effects of unilateral market power were removed.","PeriodicalId":431619,"journal":{"name":"SRPN: Other Politics & Energy (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126673934","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}
Pub Date : 2012-12-06DOI: 10.1108/JCRE-12-2012-0031
Marcelo Cajias, D. Piazolo
This study investigates the effect of energy consumption on the financial performance of residential buildings in a large panel framework. Based on prior European studies regarding the use of energy performance certificates (EPCs), we analyse whether the responsible use of energy leads to a significant price differentiation between 2008 and 2010. Based on the IPD Databank and the German statistical office, our descriptive portfolio results show that energy efficient buildings have an up to 3.15% higher return and 0.76 €/m² higher rent prices than inefficient assets. Furthermore, (un-) conditional regression results provide evidence that one percent decline in energy consumption affects the total return of buildings positively by 0.015%, all else equal. The hedonic results additionally show that one percent energy conservation boosts rent prices by 0.08% and market value by 0.45%. Overall, our study presents alternative methodologies when describing and estimating hedonic data and offers the first empirical evidence of the energy price premium in German residential markets.
{"title":"Green Performs Better: Energy Efficiency and Financial Return on Buildings","authors":"Marcelo Cajias, D. Piazolo","doi":"10.1108/JCRE-12-2012-0031","DOIUrl":"https://doi.org/10.1108/JCRE-12-2012-0031","url":null,"abstract":"This study investigates the effect of energy consumption on the financial performance of residential buildings in a large panel framework. Based on prior European studies regarding the use of energy performance certificates (EPCs), we analyse whether the responsible use of energy leads to a significant price differentiation between 2008 and 2010. Based on the IPD Databank and the German statistical office, our descriptive portfolio results show that energy efficient buildings have an up to 3.15% higher return and 0.76 €/m² higher rent prices than inefficient assets. Furthermore, (un-) conditional regression results provide evidence that one percent decline in energy consumption affects the total return of buildings positively by 0.015%, all else equal. The hedonic results additionally show that one percent energy conservation boosts rent prices by 0.08% and market value by 0.45%. Overall, our study presents alternative methodologies when describing and estimating hedonic data and offers the first empirical evidence of the energy price premium in German residential markets.","PeriodicalId":431619,"journal":{"name":"SRPN: Other Politics & Energy (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-12-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121987915","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}
Drawing on household data from Germany, this study econometrically analyzes the determinants of automobile ownership, focusing specifically on the extent to which decreases in family size translate into changes in the number of cars at the national level. Beyond modeling several variables over which policy makers have direct leverage, including the proximity of public transit, fuel prices and land use density, the analysis uses the estimated coefficients from a multinomial logit model to simulate car ownership rates under alternative scenarios pertaining to demographic change and other socio-economic variables. Our baseline scenario predicts continued increases in the number of cars despite decreases in population, a trend that is attributed to continued increases in household income.
{"title":"Do Fewer People Mean Fewer Cars? – Population Decline and Car Ownership in Germany","authors":"Nolan Ritter, Colin Vance","doi":"10.2139/ssrn.2200408","DOIUrl":"https://doi.org/10.2139/ssrn.2200408","url":null,"abstract":"Drawing on household data from Germany, this study econometrically analyzes the determinants of automobile ownership, focusing specifically on the extent to which decreases in family size translate into changes in the number of cars at the national level. Beyond modeling several variables over which policy makers have direct leverage, including the proximity of public transit, fuel prices and land use density, the analysis uses the estimated coefficients from a multinomial logit model to simulate car ownership rates under alternative scenarios pertaining to demographic change and other socio-economic variables. Our baseline scenario predicts continued increases in the number of cars despite decreases in population, a trend that is attributed to continued increases in household income.","PeriodicalId":431619,"journal":{"name":"SRPN: Other Politics & Energy (Topic)","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125606371","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 article presents a dynamic growth model with energy as an input in the production function. The available stock of energy resources is ordered by a quality parameter based on energy accounting: the “Energy Return on Energy Invested” (EROI). In our knowledge this is the first paper where EROI fits in a neoclassical growth model (with individual utility maximization and market equilibrium), establishing the economic use of “net energy analysis” on a firmer theoretical ground. All necessary concepts to link neoclassical economics and EROI are discussed before their use in the model, and a comparative static analysis of the steady states of a simplified version of the model is presented.
{"title":"Net Energy Analysis in a Ramsey-Hotelling Growth Model","authors":"Arturo Macias, M. Matilla-García","doi":"10.2139/ssrn.2026856","DOIUrl":"https://doi.org/10.2139/ssrn.2026856","url":null,"abstract":"This article presents a dynamic growth model with energy as an input in the production function. The available stock of energy resources is ordered by a quality parameter based on energy accounting: the “Energy Return on Energy Invested” (EROI). In our knowledge this is the first paper where EROI fits in a neoclassical growth model (with individual utility maximization and market equilibrium), establishing the economic use of “net energy analysis” on a firmer theoretical ground. All necessary concepts to link neoclassical economics and EROI are discussed before their use in the model, and a comparative static analysis of the steady states of a simplified version of the model is presented.","PeriodicalId":431619,"journal":{"name":"SRPN: Other Politics & Energy (Topic)","volume":"5 3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117035729","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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