Search results for " parity"
showing 10 items of 74 documents
Oil prices and Spanish competitiveness
2002
Abstract This paper tries to find, using panel cointegration techniques, the factors explaining the real exchange rate of the Spanish peseta following the monetary approach to exchange rate determination developed in Meese and Rogoff (1988). In addition to the real interest rate differential, the real oil price (adjusted accounting for the relative oil dependence of the countries considered) is included as one of the main long-run determinants. The results are favorable to this simple model, stressing the role played by both, demand and supply factors, to explain the behavior of the peseta real exchange rate. However, the results are not homogeneous in the case of the real oil prices: this …
The dark side of the sun: How solar power production affects the market value of solar and gas sources
2015
Abstract Using daily data for the Italian wholesale day-ahead power market over the period 2008–2013, we assess the impact of solar production on the market value of solar and gas sources, defined using the concepts of value factor and unit revenues. We find that, on average, solar generation negatively affects the solar source market value, causing a departure from the grid parity condition and mining their competitiveness once public incentives are removed. This negative relation is not constant over time and becomes stronger for increasing solar penetration in the energy mix. Interestingly, the opposite is found when looking at gas. While the relation between solar production and the gas…
Linear and nonlinear interest rate sensitivity of Spanish banks
2011
Abstract Interest rate risk is one of the major financial risks faced by banks due to the very nature of the banking business. The most common approach in the literature has been to estimate the impact of interest rate risk on banks using a simple linear regression model. However, the relationship between interest rate changes and bank stock returns does not need to be exclusively linear. This article provides a comprehensive analysis of the interest rate exposure of the Spanish banking industry employing both parametric and non-parametric estimation methods. Its main contribution is to use, for the first time in the context of banks’ interest rate risk, a nonparametric regression technique…
Six-years-long effects of the Italian policies for photovoltaics on the grid parity of grid-connected photovoltaic systems installed in urban contexts
2017
Abstract The purpose of this study is investigating the grid parity (GP) time and the levelized cost of energy (LCOE) of grid-connected photovoltaic (PV) systems installed in densely urbanized contexts. The analysis, which was elaborated for three Italian cities, considered the effects of the promoting policies enacted by the Italian government from June 2010 to May 2016. An appropriate methodology was applied with the aim of realistically defining the energy produced by PV systems installed on buildings with different roof types and number of floors. The calculus of the disbursements considered the operating, maintenance and insurance costs and the wear of PV panels and inverters. The resu…
On-grid residential development with photovoltaic systems in Southern Norway
2013
The application of residential photovoltaic (PV) systems is increasing rapidly worldwide. In Southern Norway, a group of on-grid smart houses with embedded PV systems, solar thermal collectors, and geothermal heat pumps are under development at Skarpnes. In this paper, performance analysis based on simulations of an on-grid residential house with PV system located at Skarpnes is presented. This project is expected to demonstrate zero energy and zero emission housing in Norway. This paper discusses a theoretical study of home energy consumption with electricity production for a single house from a PV system, including simulations of irradiation conditions and tilt angles, and of the PV syste…
Techno-economic optimum sizing of hybrid renewable energy system
2013
Using off grid hybrid renewable energy systems for rural electrification has become an attractive solution for those areas, where grid electricity is not feasible or cost of the grid extension is relatively large. Hybrid system combines several energy systems together, therefore it can supply high reliable electricity rather than a PV/battery system or a wind/battery system. But the most important thing is that the system should be economically attractive. To achieve both of these features, each of the components in the hybrid system should be optimally sized. This requires a detailed techno-economic analysis of different possible hybrid system configurations. The objective of this study is…
Techno-economic sizing of off-grid hybrid renewable energy system for rural electrification in Sri Lanka
2015
Abstract Off-grid hybrid renewable-energy-based power systems for rural electrification have become an attractive solution for areas where grid electricity is not feasible. Hybrid energy systems use several energy technologies, and the selection of proper technologies with optimum sizing of the selected components has become very important. The objective of this study has been to investigate the optimum configuration of a hybrid system that can supply electricity to a rural community in Sri Lanka. A rural village in Siyambalanduwa (Sri Lanka) comprising approximately 150 households with a resultant daily electricity demand of 270 kWh and a nighttime peak of 25 kW has been studied. This regi…
Smart grid integrated green data centres as ancillary service providers
2015
In this paper a review of Green Data Centres facilities to support smart grids operation is proposed. The paper describes the ancillary services a Green Data Centre can provide both in terms of spinning reserve provision and different regulation services. In the application section, a real electrical grid hosting a data centre is considered. The infrastructure is owned by Engineering S.p.A. and is installed in northern Italy. The system has been considered as connected to the MV distribution grid in presence of other renewable energy sources. The impact of possible power management operations over the considered data centre has been studied by means of a simulation software and the spinning…
GA-ANN for Short-Term Wind Energy Prediction
2011
Wind turbine power output is totally intermittent in the nature. For grid connected wind turbine generators, power system operators (transmission system operators) need reliable and robust wind power forecasting system. Rapid changes in the wind generation relative to the load require proper energy management system to maintain the power system stability and of course to balance the power generation, frequency, voltage regulation within the statutory limits. Accurate wind energy forecasting helps the power system transmission system operators in anticipating rapid changes in wind turbine power output with respect to load and helps in making decision not only for optimum energy management bu…
Distribution grid analysys through PSAT open source tools
2015
In this paper a study of an electrical distribution grid with presence of renewable energy sources performed using the Power System Analysis Tool is presented. The paper describes the load flow analysis of a real existing grid owned by the Italian DSO “ENEL Distribuzione SpA” and located in an urban area.