Download or read book Tackling Investment Challenges in Power Generation written by International Energy Agency and published by OECD Publishing. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the recent trends and prospects for investment in power generation? What are the main drivers and barriers? This book assesses these issues and gives special emphasis to the question of how uncertainties may affect investment decisions. Uncertainties on CO 2 constraints, on power plant licensing, on acceptability of nuclear power, on local opposition to any new energy infrastructure, on government support for specific generation technologies and on government policies on energy efficiency are particularly disturbing. Market liberalisation can also be a key uncertainty, but this may be greatly reduced and deliver considerable benefits if liberalisation is implemented whole-heartedly and backed by on-going government commitment.
Download or read book Investment in Electricity Generation and Transmission written by Antonio J. Conejo and published by Springer. This book was released on 2016-06-10 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an in-depth analysis of investment problems pertaining to electric energy infrastructure, including both generation and transmission facilities. The analysis encompasses decision-making tools for expansion planning, reinforcement, and the selection and timing of investment options. In this regard, the book provides an up-to-date description of analytical tools to address challenging investment questions such as: How can we expand and/or reinforce our aging electricity transmission infrastructure? How can we expand the transmission network of a given region to integrate significant amounts of renewable generation? How can we expand generation facilities to achieve a low-carbon electricity production system? How can we expand the generation system while ensuring appropriate levels of flexibility to accommodate both demand-related and production-related uncertainties? How can we choose among alternative production facilities? What is the right time to invest in a given production or transmission facility? Written in a tutorial style and modular format, the book includes a wealth of illustrative examples to facilitate comprehension. It is intended for advanced undergraduate and graduate students in the fields of electric energy systems, operations research, management science, and economics. Practitioners in the electric energy sector will also benefit from the concepts and techniques presented here.
Download or read book Revisiting Public Private Partnerships in the Power Sector written by Maria Vagliasindi and published by World Bank Publications. This book was released on 2013-04-05 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt: Given the chronic power shortages faced by numerous developing countries, and the need everywhere to keep pace with demand, understanding the drivers of public private partnerships (PPPs) in energy is critical. While many private electricity projects have been delayed and financing costs have increased, the impact of the global financial crisis was less severe than that of previous crises that originated in developing countries. This resilience stems from developing countries’ need to expand generation capacity, electricity sector reforms and better regulatory frameworks, and short-term solutions (such as rental power plants). The study reports the evidence from statistical analysis and a sample of case studies selected based. It proposes a novel analytical approach to model PPPs, using a two-stage procedure based on Heckman’s sample selection distinguishing between those factors that determine whether private investment in energy takes place, and those that influence the volume of investment. The results of the analysis provide the following conclusions: • Both general governance and regulatory instrument primarily affect investors’ decisions to enter the various power sector markets, not the subsequent level of investment – indicating that investors seem to be adequately protected against risks. • Support mechanisms, like feed-in tariffs, are crucial for attracting investors in renewable generation, but they do not succeed in displacing fossil fuel investment and they could play a bigger role in affecting the level of investment in renewables. • There is a significant trade-off between effectiveness and efficiency of alternative instruments for deploying renewables. Feed-in tariffs tended to be quite effective but to be set on the high side, reducing incentives to cut costs and posing significant strains on already stripped national budgets. Competitive auctions, on the other hand have tended to be efficient but initially low and not always the most effective instrument. • Countries can scale up renewables following different paths. For Brazil, the move from feed-in tariffs to auctions enabled it to both reduce costs and deploy additional capacity. Peru followed in Brazil’s path, opting for auctions instead of introducing feed-in tariffs. On the other hand, China’s move from competitive tenders to feed-in tariffs allowed for discovery effects to determine the right level of prices to attract private investment in renewables.
Download or read book Investing in the Renewable Power Market written by Tom Fogarty and published by John Wiley & Sons. This book was released on 2012-01-30 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial challenges facing clean energy installations The path to the widespread adoption of renewable energy is littered with major technological legal, political, and financial challenges. Investing in the Renewable Power Market is a reality check for the mass roll out of green energy and its financial dominance of the world energy market, focusing on real energy costs and global energy needs over the next decade. If green energy is to be truly successful, the market must be properly understood, so that dreams of a green future do not lead to actual energy nightmares. The first book to cover the major investing challenges and monetary constraints placed on electric power companies as they race to meet their green energy requirements, Investing in the Renewable Power Market explains how generating electricity is totally different from other energy enterprises in that it is highly regulated and its product cannot be stored. This combination greatly affects the finances of renewable power and influences how investors should navigate the energy market. To help the reader better understand the current state of the alternative energy industry, the book: Details the challenges facing green energy, such as the fact that it is priced compared to natural gas, which is currently at an all-time low Analyzes real energy costs and the global demand for energy over the next decade Describes why, in the short term, investment opportunities with renewable power will be with financial and operational restructurings The green energy market is currently facing enormous challenges, but Investing in the Renewable Power Market explains the real costs of energy, the future of the energy market, and how to profit in both the long and short term.
Download or read book The Power of Change written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2016-09-30 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: Electricity, supplied reliably and affordably, is foundational to the U.S. economy and is utterly indispensable to modern society. However, emissions resulting from many forms of electricity generation create environmental risks that could have significant negative economic, security, and human health consequences. Large-scale installation of cleaner power generation has been generally hampered because greener technologies are more expensive than the technologies that currently produce most of our power. Rather than trade affordability and reliability for low emissions, is there a way to balance all three? The Power of Change: Innovation for Development and Deployment of Increasingly Clean Energy Technologies considers how to speed up innovations that would dramatically improve the performance and lower the cost of currently available technologies while also developing new advanced cleaner energy technologies. According to this report, there is an opportunity for the United States to continue to lead in the pursuit of increasingly clean, more efficient electricity through innovation in advanced technologies. The Power of Change: Innovation for Development and Deployment of Increasingly Clean Energy Technologies makes the case that America's advantagesâ€"world-class universities and national laboratories, a vibrant private sector, and innovative states, cities, and regions that are free to experiment with a variety of public policy approachesâ€"position the United States to create and lead a new clean energy revolution. This study focuses on five paths to accelerate the market adoption of increasing clean energy and efficiency technologies: (1) expanding the portfolio of cleaner energy technology options; (2) leveraging the advantages of energy efficiency; (3) facilitating the development of increasing clean technologies, including renewables, nuclear, and cleaner fossil; (4) improving the existing technologies, systems, and infrastructure; and (5) leveling the playing field for cleaner energy technologies. The Power of Change: Innovation for Development and Deployment of Increasingly Clean Energy Technologies is a call for leadership to transform the United States energy sector in order to both mitigate the risks of greenhouse gas and other pollutants and to spur future economic growth. This study's focus on science, technology, and economic policy makes it a valuable resource to guide support that produces innovation to meet energy challenges now and for the future.
Download or read book The Power of Renewables written by Chinese Academy of Engineering and published by National Academies Press. This book was released on 2011-01-29 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States and China are the world's top two energy consumers and, as of 2010, the two largest economies. Consequently, they have a decisive role to play in the world's clean energy future. Both countries are also motivated by related goals, namely diversified energy portfolios, job creation, energy security, and pollution reduction, making renewable energy development an important strategy with wide-ranging implications. Given the size of their energy markets, any substantial progress the two countries make in advancing use of renewable energy will provide global benefits, in terms of enhanced technological understanding, reduced costs through expanded deployment, and reduced greenhouse gas (GHG) emissions relative to conventional generation from fossil fuels. Within this context, the U.S. National Academies, in collaboration with the Chinese Academy of Sciences (CAS) and Chinese Academy of Engineering (CAE), reviewed renewable energy development and deployment in the two countries, to highlight prospects for collaboration across the research to deployment chain and to suggest strategies which would promote more rapid and economical attainment of renewable energy goals. Main findings and concerning renewable resource assessments, technology development, environmental impacts, market infrastructure, among others, are presented. Specific recommendations have been limited to those judged to be most likely to accelerate the pace of deployment, increase cost-competitiveness, or shape the future market for renewable energy. The recommendations presented here are also pragmatic and achievable.
Download or read book Sustainable Energy Investment written by Joseph Nyangon and published by BoD – Books on Demand. This book was released on 2021-03-10 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the technical, market, and policy innovations for unlocking sustainable investment in the energy sector. While finalizing this book, the COVID-19 pandemic is cutting a devastating swath through the global economy, causing the biggest fall in energy sector investment, exacerbating the global trade finance gap, worsening signs of growing income inequality, and devastating the health and livelihoods of millions. What is the parallel between the COVID-19 pandemic and the climate change crisis? The impacts of the global pandemic are expected to last for a few years, whereas those associated with the climate crisis will play out over several decades with potentially irreversible consequences. However, both show that the cost of inaction or delay in addressing the risks can lead to devastating outcomes or a greater probability of irreversible, catastrophic damages. In the context of sustainable energy investment and the transition to a low-carbon, climate-resilient economy, what ways can financial markets and institutions support net-zero-emission activities and the shift to a sustainable economy, including investment in energy efficiency, low-carbon and renewable energy technologies? This book provides students, policymakers, and energy investment professionals with the knowledge and theoretical tools necessary to address related questions in sustainable energy investment, risk management, and energy innovation agendas.
Download or read book Stuck in Transition written by Mirlan Aldayarov and published by World Bank Publications. This book was released on 2017-02-27 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: The large-scale transformation of Kazakhstan’s power sector following independence in 1991 was reflected by the country’s move toward liberalizing the market and implementing sector regulation. As an early adopter of a liberalized multimarket model consisting of bilateral, spot, balancing, ancillary, and capacity submarkets Kazakhstan’s power sector was regarded a market reform leader among countries of the former Soviet Union, having achieved a much improved supply and demand balance and service quality. However, despite the noteworthy headway, sector reforms remain predominantly as unfinished business. The excess generation capacity that was inherited from the former Soviet Union at a time when the “energy-only†? market prices were too low to attract serious investors has masked the need to reflect on the long-term outlook of the country’s power production. As the investment crunch unfolded in the mid-2000s, a diverging concern almost immediately arose; that is, the capacity additions of existing and planned generations may not be sufficient to keep pace with the perpetuating and significant increase in the demand for power. Instead of applying market mechanisms to allow prices to rise and reflect the underlying supply and demand gap, the GoK addressed the issue by implementing administrative, command-and-control measures. This study draws on the World Bank’s long-standing engagement in Kazakhstan’s energy sector and a number of recent technical assistance and advisory support activities. The study aims to (i) objectively identify the principal challenges faced by the Kazakhstan power sector in its ongoing transition and outlining potential policy options; and (ii) draw lessons from Kazakhstan’s experience in sector reforms for the broader international audience. The study covers broader sector issues including long-term least-cost power system planning, supply and demand balancing, tariff setting, market structure, and integration of renewable energy.
Download or read book Profiting from Clean Energy written by Richard W. Asplund and published by John Wiley & Sons. This book was released on 2008-03-11 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: With Profiting from Clean Energy, respected investment analyst Richard Asplund provides an in-depth explanation of the technology and industry structure behind various sectors of this field and in the process identifies more than 150 stocks related to clean energy. Along the way, Asplund discusses exactly what it takes to effectively invest in clean energy—whether it be through buying individual stocks, investing in green exchange-traded funds or mutual funds, or trading the biofuel and carbon credit markets.
Download or read book Climate Change and Energy Insecurity written by Felix Dodds and published by Routledge. This book was released on 2009-12-01 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: Climate change is now recognised as one of the greatest challenges facing the international community and when coupled with energy production and use - the most significant contributor to climate change - and the related security problems the double threat to international security and human development is of the highest order. This wide-ranging book brings together leading thinkers from academia, government and civil society to examine and address the global insecurity and development challenges arising from the twin thrust of climate change and the energy supply crunch. Part one considers energy. It analyses the challenges of meeting future energy demands and the ongoing and future security-related conflicts over energy. Coverage includes security and development concerns related to the oil and gas, nuclear, bio-fuels and hydropower sectors, ensuring energy access for all and addressing sustainable consumption and production in both developed and rapidly industrializing countries such as India, China, Brazil and South Africa. Part two analyses how climate change contributes to global insecurity and presents a consolidated overview of the potential threats and challenges it poses to international peace and development. Coverage includes future water scenarios including a focus on scarcity in the Middle East, food security, biodiversity loss, land degradation, the changing economics of climate change, adaptation and the special case of small island states. The final part lays out the potential avenues and mechanisms available to the international community to address and avert climate and energy instability via the multilateral framework under the United Nations. It also addresses mechanisms for resource and knowledge transfer from industrialized to developing countries to ensure a low-carbon energy transition by focusing on the rapid deployment of clean energy technologies and ways to tackle income and employment insecurity created by the transition away from traditional energy sources. This book offers the most comprehensive international assessment of the challenges and solutions for tackling the global insecurity arising from climate change and energy provision and use. It is essential reading for students, researchers and professionals across international relations, security, climate change and the energy sectors.
Download or read book Global Renewables Outlook Energy Transformation 2050 written by International Renewable Energy Agency IRENA and published by International Renewable Energy Agency (IRENA). This book was released on 2020-04-01 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: This outlook highlights climate-safe investment options until 2050, policies for transition and specific regional challenges. It also explores options to eventually cut emissions to zero.
Download or read book Power Generation Investment in Electricity Markets written by International Energy Agency and published by International Energy Agency. This book was released on 2003 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: On cover and title page: Energy market reform.
Download or read book Renewable Energy Finance written by Charles W. Donovan and published by . This book was released on 2015 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: The future of clean energy is no longer about science and technology; it's all about access to finance. The fossil fuel industry has been subsidized for decades with tax breaks and government backing, while renewables have struggled to compete. But now clean energy is the safe bet for investors, as is argued in Renewable Energy Finance: Powering the Future, edited by Dr Charles Donovan, Principal Teaching Fellow at Imperial College Business School.With a foreword by Lord Brown and contributions from some of the world's leading experts in energy finance, this timely book documents how investors are spending over US$250 billion each year on new renewable energy projects and positioning themselves in a global investment market that will continue to expand at double-digit growth rates until 2020. It documents first-hand experiences of the challenges of balancing risk and return amid volatile market conditions and rapid shifts in government policy.Renewable Energy Finance provides an insider's perspective on renewable energy transactions, and insight into how countries like the US, India and China are responding to the global energy challenge. Drawing together contributions from senior executives and leading academics, Renewable Energy Finance serves an audience of readers craving intelligent, practical perspectives on the future of clean energy investment.
Download or read book Energy Services Fundamentals and Financing written by David Borge-Diez and published by Academic Press. This book was released on 2020-10-30 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: Energy Services Fundamentals and Financing, first volume of the Energy Services and Management series, provides a global view of energy services schemes and practices. The book discusses the role of energy services within the larger energy landscape and explores key technical aspects of energy systems for power, heating and cooling, including renewable energy systems and combined heat and power. The book analyzes energy efficiency in several electrical devices, such as motors, lighting and vehicles. It then examines actual energy services business models and policy, before presenting a quick reference section that includes key models and calculations. - Provides an innovative approach to the fundamental aspects related with energy services, including technology implementation and financial schemes - Discusses tools to measure process efficiency and sustainability in power and heating applications - Includes case studies, models and calculations, both technical and financial, as well as downloadable data for simulation and modeling
Download or read book Practitioner Perspectives Matter written by Merrill Jones Barradale and published by . This book was released on 2010 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation examines the influence of attitudes, beliefs, and preferences of energy industry practitioners on investment decision-making with regard to fuel choice for new electric power plants. The conclusions are based on in-depth interviews and an extensive online survey I conducted of 600-800 energy professionals in the U.S. power sector. Chapter 1 analyzes the impact of policy uncertainty on investment decision-making in renewable energy, using the federal production tax credit (PTC) and wind energy investment as an example. It is generally understood that the pattern of repeated expiration and short-term renewal of the PTC causes a boom-bust cycle in wind power plant investment in the U.S. This on-off pattern is detrimental to the wind industry, since ramp-up and ramp-down costs are high, and players are deterred from making long-term investments. The widely held belief that the severe downturn in investment during "off" years implies that wind power is unviable without the PTC turns out to be unsubstantiated: this chapter demonstrates that it is not the absence of the PTC that causes the investment downturn during "off" years, but rather the uncertainty over its return. Specifically, it is the dynamic of power purchase agreement negotiations in the face of PTC renewal uncertainty that drives investment volatility. This suggests that reducing regulatory uncertainty is a crucial component of effective renewable energy policy. The PTC as currently structured is not the only means, existing or potential, for encouraging wind power investment. Using data from my survey, various alternative policy incentives are considered and compared in terms of their perceived reliability for supporting long-term investment. Chapter 2 introduces the concept of expected payment of carbon as a factor in investment decision-making. The notion of carbon risk (the financial risk associated with CO2 emissions under potential climate change policy) is usually incorporated into investment decision-making by including a cost of carbon in the budget analysis. Most existing literature uses the expected price of carbon as a proxy for this cost, where expected price is a weighted average of various scenarios, often comparing policy proposals and representing either the price of traded permits or level of carbon tax, depending on the type of policy. The literature focuses on the minimum price of carbon required to influence power plant investment decisions. In contrast, this chapter introduces expected payment as a more accurate measure of carbon cost as it is perceived by industry practitioners. The expected payment of carbon is the expected price of carbon times the probability that this cost would actually be faced in the case of a particular investment. This concept helps explain both the 2005-2006 surge of activity in coal-fired power plant development and the subsequent decline in that interest. The energy industry has been slow to move away from fossil fuels and towards renewable resources. In chapter 3 I find evidence for a cognitive bias that plays a role in this momentum. Energy executives' expectations of future energy prices are strongly correlated with their own preferences, which I document for the case of natural gas prices. This is an example of wishful expectations, a form of overconfidence in which people are excessively optimistic over uncontrollable future outcomes. This implies energy executives with strong exposure to fossil fuels are excessively optimistic on future prices and so continue to invest despite the presence of superior alternatives.
Download or read book Uncertainty in the Electric Power Industry written by Christoph Weber and published by Springer. This book was released on 2008-11-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Around the world, liberalization and privatization in the electricity industry have lead to increased competition among utilities. At the same time, utilities are now exposed more than ever to risk and uncertainties, which they cannot pass on to their customers through price increases as in a regulated environment. Especially electricity-generating companies have to face volatile wholesale prices, fuel price uncertainty, limited long-term hedging possibilities and huge, to a large extent, sunk investments. In this context, Uncertainty in the Electric Power Industry: Methods and Models for Decision Support aims at an integrative view on the decision problems that power companies have to tackle. It systematically examines the uncertainties power companies are facing and develops models to describe them - including an innovative approach combining fundamental and finance models for price modeling. The optimization of generation and trading portfolios under uncertainty is discussed with particular focus on CHP and is linked to risk management. Here the concept of integral earnings at risk is developed to provide a theoretically sound combination of value at risk and profit at risk approaches, adapted to real market structures and market liquidity. Also methods for supporting long-term investment decisions are presented: technology assessment based on experience curves and operation simulation for fuel cells and a real options approach with endogenous electricity prices.
Download or read book Competitive Strategy written by Benoit Chevalier-Roignant and published by MIT Press. This book was released on 2014-08-29 with total page 517 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new paradigm for balancing flexibility and commitment in management strategy through the amalgamation of real options and game theory. Corporate managers who face both strategic uncertainty and market uncertainty confront a classic trade-off between commitment and flexibility. They can stake a claim by making a large capital investment today, influencing their rivals' behavior, or they can take a “wait and see” approach to avoid adverse market consequences tomorrow. In Competitive Strategy, Benoît Chevalier-Roignant and Lenos Trigeorgis describe an emerging paradigm that can quantify and balance commitment and flexibility, “option games,” by which the decision-making approaches of real options and game theory can be combined. The authors first discuss prerequisite concepts and tools from basic game theory, industrial organization, and real options analysis, and then present the new approach in discrete time and later in continuous time. Their presentation of continuous-time option games is the first systematic coverage of the topic and fills a significant gap in the existing literature. Competitive Strategy provides a rigorous yet pragmatic and intuitive approach to strategy formulation. It synthesizes research in the areas of strategy, economics, and finance in a way that is accessible to readers not necessarily expert in the various fields involved.
