Evaluation of the Economic Profitability of Using Renewable Energy Sources in Agro-Industrial Companies

Abstract

The study of the impact of the availability of renewable energy sources (RES) on the competitiveness and cost reduction opportunities is an actual objective for agro-industrial enterprises in the present time. The purpose of this paper was to develop a methodological approach based on a questionnaire survey, an integrated indicator of enterprise competitiveness, a model for assessing energy conservation costs, and regression analysis combined with a hierarchical synthesis of 20 Russian agro-industrial companies. The solution of the problem of nonlinear optimization of agro-industrial companies made it possible to determine the excess of the competitiveness criterion over the criterion of energy conservation cost reduction as a result of the use of RES. The conducted regression analysis showed a close relationship between the competitiveness of the companies under study and the availability of RES. Modeling and hierarchical synthesis of the study results confirmed that the use of RES in the activities of agro-industrial companies stimulates their competitive potential reflected by the competitiveness index and minimizes energy conservation costs. It was also found that there is an inverse regression relationship with a high degree of correlation between the provision of RES and the cost of energy-saving measures. Hence, it can be argued that a greater emphasis on the provision of Russian agro-industrial enterprises with RES can lead to their more sustainable and efficient development due to increased competitiveness and better cost reduction strategies.

Modelling the Optimal Electricity Mix for Togo by 2050 Using OSeMOSYS

“…Electricity being a key sector for development, it is nowadays one of the major concerns and an indispensable parameter for developing countries in achieving the Sustainable Development Goals (SDGs) (International Energy Agency et al 2022). It contributes to the reduction of poverty by improving economic development, health, food security, education and environmental protection (Swain & Karimu 2020;Anwar & Elfaki 2021;Syromyatnikov et al 2021;Souza et al 2022;Nguyen et al 2022). The SDGs adopted by the United Nations in 2015, are a global call to action to eliminate poverty, protect the planet and ensure peace and prosperity for all people by 2030 (United Nations 2021).…”

Dynamic analysis of a mechatronic drive system with an induction motor

“…Optimization of dynamic systems requires development of physical models to mathematically describe the investigated phenomena (Syromyatnikov et al, 2021). The frequency response determined on their basis is widely used in optimization, vibration level control and model improvement (Zhong and Ma, 2021).…”