Methodology for Investment Evaluation in Electricity Generation Modules according to the Requirements of the European Union

Vempere, L.; Jasevics, Aivo; Zemite, L.; Vempers, Guntars

doi:10.2478/lpts-2021-0014

Cited by 6 publications

(6 citation statements)

References 8 publications

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“…DR, when coordinated with renewable energy sources, can lead to reduced reliance on fossil fuels for electricity generation. This alignment helps lower greenhouse gas emissions, contributing to environmental sustainability [98]. Automation through ADR systems enables faster, more precise responses to DR events.…”

Section: Information and Communication Technologiesmentioning

confidence: 99%

“…During periods of low demand and low electricity prices, the generated electricity is diverted to the electrolysis of water and the storage of gaseous hydrogen at elevated pressure, which is then used to generate electricity during high demand and high electricity costs, thus obtaining the highest profit. In addition, the duration of hydrogen storage is much longer than electricity in batteries, up to weeks or months compared to an hour or a week in batteries that are available today [98,114].…”

Section: Case Study: Hydrogen For Demand Responsementioning

confidence: 99%

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A Review of Barriers and Enables in Demand Response Performance Chain

Bogdanova,

Viskuba,

Zemīte

2023

Energies

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The role of demand response increases considerably with a higher share of renewable energy sources in the energy mix, characterized with more frequent energy market price fluctuations due to mismatch between uncontrollable weather-dependent production and currently relatively inflexible energy consumption. Reallocation of energy consumption from high-price hours to lower price hours helps to avoid extra costs to the entire economy and ensures the possibility to minimize fossil-based energy generation, therefore contributing to the achievement of zero-emission goals. The research aims to analyze involvement stimulating factors of demand-side management and demand response from the angles of various energy sector participants, identifying barriers and enabling a successful implementation and wider development of this important energy transition facilitator. The qualitative methods are as follows: utilizing the conducted literature review; and scrutinizing scientific publications, reports and legal acts. As a result, the authors point out the five main aspects: pricing mechanisms, incentives, technology, government regulation and customer awareness. Demand response requires spectacular human and technological resources and administrative, financial and educational efforts. However, the demand response addresses many challenges, such as cost savings, innovation, integration of renewable energy sources, effective, stable and safe power grid performance, reduced need for costly infrastructure modifications, and greenhouse gas emission reduction. The abovementioned benefits influence what the demand-response brings, and are crucial for modern society and a successful energy transition.

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Section: Information and Communication Technologiesmentioning

confidence: 99%

Section: Case Study: Hydrogen For Demand Responsementioning

confidence: 99%

A Review of Barriers and Enables in Demand Response Performance Chain

Bogdanova,

Viskuba,

Zemīte

2023

Energies

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“…where NPV Tplan stands for the net present value of cash flow [51] at the end of planning period, T plan (this objective function is to be maximized, that so its negative is used), €; IRR stands for internal return rate, % [52]; LCOCE stands for levelized costs of consumed energy, €/kWh [53]; T pp stands for payback period in years; and Ploss stands for losses of power in the distribution grid, kWh. A detailed description of economic indicators is presented in Section 2.3.…”

Section: Decision-making Algorithmmentioning

confidence: 99%

“…The feasibility study is usually carried out based on economic criteria as the net present value (NPV) of cash flow [51], internal return rate (IRR), the levelized cost of energy (LCOE) [52,53], and payback period (T PP ).…”

Section: Modelling Of Billing Systemmentioning

confidence: 99%

Economic Viability of Energy Communities versus Distributed Prosumers

et al. 2022

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As distribution grids are made to accommodate significant amounts of renewable energy resources, the power system evolves from a classical producer-consumer scheme to a new one that includes individual prosumers or energy communities. This article contributes to the exploration of the solution to the dilemma of whether to be a distributed prosumer or an energy community prosumer by comparing the profitability of these two business models. To achieve this goal, a high-resolution methodology is created for measuring economic performance via proposed indices under different development scenarios of renewable proliferation and various network configurations. The developed methodology considers today’s electricity billing and renewable support scheme net metering. The results indicate that, first, the energy community is a more profitable framework than the individual distributed prosumer: avoided costs for energy community are, on average, 20% higher than for the individual, resulting in a payback period of the energy community that is about two times shorter than for owners of rooftop installations. Such promising results should encourage ordinary consumers to be members of energy communities. Second, the energy losses in the power distribution system are slightly higher for the case of energy communities rather than individual prosumers, yet the difference is insignificant, about 0.2%. Third, regulatory barriers shall be removed to enable participation of Latvian prosumers and distribution system operators to the energy communities, as it will benefit all the stakeholders and facilitate economically efficient energy transition. The results of this study could be adopted by decision-makers, such as government agencies, companies, and solar and wind turbine owners.

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“…"Methodology for Investment Evaluation in Electricity Generation Modules in Accordance with the Requirements of the European Union" by L. Vempere, A. Jasevics, L. Zemīte and G. Vempers [2] illustrates that one of the criteria for whole energy system is a stable electricity supply that meets certain technical parameters. In order to achieve synchronous operation of several energy systems, the Commission of the European Union has adopted Regulation No 2016/631 establishing a network code on the applicable network connection requirements for generators.…”

Section: Glimpse Into the Articlesmentioning

confidence: 99%

Energy Transition of the Baltic States: Problems and Solutions

Sauhats

Broka

Baltputnis

2021

Latvian Journal of Physics and Technical Sciences

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The importance of the climate change problem is recognised by the governments of the overwhelming majority of the world’s countries. To bring additional attention and enable more concrete action, in a number of countries and municipalities the issue has been declared a climate emergency. The need to solve this problem predetermines the task of replacing fossil energy sources with renewable alternatives. The process of the ongoing transformation is called energy transition. It includes transformation of all the energy-intensive sectors of economic activity: power generation, supply and consumption, heat generation and supply, electrification of transport, agriculture and households. The main goal of the energy transition is obvious – it is necessary to reduce the emissions of carbon dioxide into the atmosphere. The main sources of energy used to achieve this goal in power generation are wind and solar energy. Even though the goal is unambiguously defined and the way to achieve it seems evident, it is already clear that a number of serious problems and obstacles have arisen. They are caused by the emergence of additional objectives that must be achieved and constraints that need to be satisfied in the process of the required transformations. Indeed, the transition should be carried out taking into account power system properties describing techno-economic efficiency, reliability, stability, adequacy, etc. This list can be expanded easily. It should be noted that the additional objectives are not less important than the overarching goal. Along with reducing emissions, it is also necessary to improve energy supply reliability, its availability and affordability for all the segments of the population as well as maintain the security of the energy supply infrastructure and processes.

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Methodology for Investment Evaluation in Electricity Generation Modules according to the Requirements of the European Union

Cited by 6 publications

References 8 publications

A Review of Barriers and Enables in Demand Response Performance Chain

A Review of Barriers and Enables in Demand Response Performance Chain

Economic Viability of Energy Communities versus Distributed Prosumers

Energy Transition of the Baltic States: Problems and Solutions

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