Analysis of Financial Problems of Wind Farms in Poland

Wyrobek, Joanna; Popławski, Łukasz; Dzikuć, Maria

doi:10.3390/en14051239

Cited by 17 publications

(11 citation statements)

References 38 publications

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“…When analysing the costs of developing hydrogen-based energy, two types of energy sources were taken into account, which, according to the government's plans, are to replace energy based on fossil resources-wind and nuclear power plants. Conclusions and results from the research conducted in the field of obtaining energy in wind farms [91][92][93] clearly indicate that despite the existing difficulties, the unit cost of obtaining electricity has been decreasing in the last ten years, allows for a high return on investment and is competitive in relation to other energy sources. In the case of nuclear energy, the costs of acquiring electricity are also competitive in relation to energy from fossil fuels.…”

Section: Cost Of Energy Transformationmentioning

confidence: 98%

The Challenges of Poland’s Energy Transition

2021

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The ongoing climate changes necessitate an effective climate policy. The energy transition is now an important topic and problem, especially in Poland. (1) The undertaken analysis of the problem of energy transition is important for political, social and technological reasons. Political, because it shows the weakness of the implementation of Polish energy policy in regards to climate change. Social, because energy transition will bring about significant social changes in the largest industrial region of Poland. Technological, as the departure from fossil fuels requires the introduction of other sources of energy on a massive scale, for which Poland is not prepared. The aim of the study was to critically analyse the activities to date in the field of energy transition in Poland. The second goal of the analysis was an attempt to answer the question of whether the process of energy transition and achieving the goals set in the EU’s European Green Deal are possible at all until 2050. (2) To achieve the goals, the system method and the decision-making method were primarily used. These methods allowed for an examination of the main determinants of the Polish energy transformation. (3) The main results include the confirmation, contrary to the announcements of the Polish government, that despite the adoption in Poland of the strategy “Poland’s energy policy until 2040”, the effective implementation of the energy transition before 2050 is not only very difficult, but may even be impossible to implement in the assumed time. This is due to political, economic, social and technological conditions. Coal energy is outdated, expensive and ineffective. Due to natural conditions, wind energy is not able to meet the energy demand of the industry. The development of nuclear energy is only in the planning phase. (4) To sum up, in the next thirty years, Poland will not be able to achieve the assumed effects of the energy transition, which is in contradiction with the official declaration of the government.

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Section: Cost Of Energy Transformationmentioning

confidence: 98%

The Challenges of Poland’s Energy Transition

2021

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“…This understanding of NPV is used in capital budgeting and investment planning, enabling analysis of a projected investment or project [11]. The application of NPV in capital budgeting and investments is widely presented in the literature, e.g., [7,[12][13][14][15][16][17][18][19][20][21][22][23][24][25][26][27]. The researchers emphasise the importance of NPV for investment planning.…”

Section: Literature Reviewmentioning

confidence: 99%

“…The researchers emphasise the importance of NPV for investment planning. Net Present Value enables the comparison between the money that must be paid to complete the planned investment with all the cash flows that the undertaking will generate in the future [7,[12][13][14][15][16][17][18][19][20][21][22][23][24][25][26][27].…”

Section: Literature Reviewmentioning

confidence: 99%

Does the Net Present Value as a Financial Metric Fit Investment in Green Energy Security?

Dobrowolski

Drozdowski

2022

Energies

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Surprisingly, little is known whether the net present value (NPV) used as a financial metric in budgeting and investment planning to analyse a projects’ profitability is universal. Meanwhile, the epochal green energy revolution ensuring carbon neutrality through green innovations requires enormous investments, and projects realised must ensure energy security. Therefore, there is a need to reanalyse financial metrics used in financial planning, including NPV. We eliminate this research gap and, based on data from Poland, Romania, Hungary, Croatia, the USA, the United Kingdom, Japan, Israel, and Euro Zone, explain why one may not perceive the currently used NPV formula as a universal financial metric. We show that the variable discount rate influences the time value of money. Therefore, there is a need to redefine the NPV formula. This study makes two main contributions. First, it creates new ground by revisiting the NPV formula in the emerging market context compared to stable economies and contributes to developing business and management theory. Second, we propose and empirically verify the modified NPV formula as a financial metric that considers the situation of energy firms in emerging markets. Thus, this research helps the capital budgeting process, and the modified NPV formula can help provide optimal outcomes in firms, helping to reduce financial risks. Our study contributes to a further contextual diagnosis of business projects and can, in turn, be relevant for other energy sector analyses.

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“…These techniques can lower per-kilowatt prices for small-scale wind generation, which could be a basis for its popularity in the near future. More work and research on large-scale wind generation has resulted in a surprising decrease in prices during the past 15 years [58,65]. Likewise, if the research in small wind energy continues, engineers will find it more attractive to harness energy from small wind sources.…”

Section: Small-scale Wind Energy Generationmentioning

confidence: 99%

Recent Development in the Design of Wind Deflectors for Vertical Axis Wind Turbine: A Review

et al. 2021

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Developments in the design of wind turbines with augmentation are advancing around the globe with the goal of generating electricity close to the user in built-up areas. This is certain to help lessen the power generation load as well as distribution and transmission network costs by reducing the distance between the user and the power source. The main objectives driving the development and advancement of vertical-axis wind turbines are increasing the power coefficient and the torque coefficient by optimizing the upstream wind striking on the rotor blades. Unlike horizontal-axis wind turbines, vertical axis turbines generate not only positive torque but also negative torque during operation. The negative torque generated by the returning blade is a key issue for vertical-axis wind turbines (VAWTs) that is counterproductive. Installation of wind deflectors for flow augmentation helps to reduce the negative torque generated by the returning blades as well as enhance the positive torque by creating a diversion in the upstream wind towards the forwarding blade during operation. This paper reviews various designs, experiments, and CFD simulations of wind deflectors reported to date. Optimization techniques for VAWTs incorporating wind deflectors are discussed in detail. The main focus of the review was on the installation position and orientation of the deflectors and their potential contribution to increasing the power coefficient. Topics for future study are suggested in the conclusion section of the paper.

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Analysis of Financial Problems of Wind Farms in Poland

Cited by 17 publications

References 38 publications

The Challenges of Poland’s Energy Transition

The Challenges of Poland’s Energy Transition

Does the Net Present Value as a Financial Metric Fit Investment in Green Energy Security?

Recent Development in the Design of Wind Deflectors for Vertical Axis Wind Turbine: A Review

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