Renewable electricity finance in the United States: A state-of-the-art review

Krupa, Joel; Harvey, L. D. Danny

doi:10.1016/j.energy.2017.05.190

Cited by 51 publications

(19 citation statements)

References 14 publications

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“…Vaishnav et al (2017) explore the dramatic fall in subsidies in the United States in 2014, which is clearly consistent with our analysis. Krupa and Harvey (2017) goes into analyzing RE finance in the United States and determines the effect of subsidies which actually result in net financing rates that fall below the assumptions of this study. Mazzucato and Semieniuk (2018) probe financing renewable energy: Who is financing what and why it matters "Financial actors vary considerably in the composition of their investment portfolio, creating directions towards particular technologies.…”

Section: Literature Reviewmentioning

confidence: 99%

What are You Waiting to Invest? Long-Term Investment in Grid-Connected Residential Solar Energy in California. A Real Options Analysis.

Vargas

Chesney

2018

SSRN Journal

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The goal of this paper is to assess the optimal choice of a household in California, United States, in terms of their decision if and when to undertake a certain investment in a residential scale, grid connected, solar photo-voltaic system, in order to obtain savings in their monthly expenditures in electricity. This irreversible option is then defined, mainly, by the initial cost of the solar PV system. For this purpose, Real Options Analysis is deployed to assess this investment opportunity for the household. This approach allows determining not only whether the investments should be undertaken or not, but also the optimal timing to do so. Results show it is optimal for a Californian household to invest in a photo-voltaic system, however some delay might be advised depending on the energy production factor of specific areas, and the expected useful life of the equipment. Furthermore, government intervention influencing subsidies and energy prices has a bigger effect in the length such delays and should be avoided whenever possible.

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Section: Literature Reviewmentioning

confidence: 99%

What are You Waiting to Invest? Long-Term Investment in Grid-Connected Residential Solar Energy in California. A Real Options Analysis.

Vargas

Chesney

2018

SSRN Journal

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“…The sources of electricity, also known as the electricity mix or energy mix, for Nevada, were obtained from the U.S. Energy Information Administration (USEIA) [46] as shown in Table 2. The financial parameters used to perform the economic evaluation were based on the review of literature published in the years of 2016 and 2017 [22,23,[47][48][49][50][51][52][53][54][55][56][57][58][59] (Table 3). Module and inverter types for the design of the PV system were selected from the SAM database; their parameters were used to design the number of modules and inverters, as well as the system capacity.…”

Section: Data Sourcesmentioning

confidence: 99%

An Analysis of Energy Consumption and the Use of Renewables for a Small Drinking Water Treatment Plant

Bukhary

Batista

Ahmad

2019

Water

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One of the pressing issues currently faced by the water industry is incorporating sustainability considerations into design practice and reducing the carbon emissions of energy-intensive processes. Water treatment, an indispensable step for safeguarding public health, is an energy-intensive process. The purpose of this study was to analyze the energy consumption of an existing drinking water treatment plant (DWTP), then conduct a modeling study for using photovoltaics (PVs) to offset that energy consumption, and thus reduce emissions. The selected plant, located in southwestern United States, treats 0.425 m 3 of groundwater per second by utilizing the processes of coagulation, filtration, and disinfection. Based on the energy consumption individually determined for each unit process (validated using the DWTP's data), the DWTP was sized for PVs (as a modeling study). The results showed that the dependency of a DWTP on the traditional electric grid could be greatly reduced by the use of PVs. The largest consumption of energy was associated with the pumping operations, corresponding to 150.6 Wh m −3 for the booster pumps to covey water to the storage tanks, while the energy intensity of the water treatment units was found to be 3.1 Wh m −3 . A PV system with a 1.5 MW capacity with battery storage (30 MWh) was found to have a positive net present value and a levelized cost of electricity of 3.1 cents kWh −1 . A net reduction in the carbon emissions was found as 950 and 570 metric tons of CO 2 -eq year −1 due to the PV-based design, with and without battery storage, respectively.Water 2020, 12, 28 2 of 21 consumption of drinking water and wastewater treatment plants (WWTPs) has been evaluated by various studies [7][8][9][10][11][12]. Ref. [8,9] determined the energy consumption and the associated carbon emissions for water reuse plants and WWTPs, respectively, whereas [11] utilized metafrontier data envelopment analysis to analyze the energy efficiency of DWTPs. Ref. [12] reported that the city of Qingdao, China, utilized about 1% of its total energy consumption for drinking water treatment, whereas utilization was 4%-5% for the distribution of the drinking water, as well as the treatment of the generated wastewater.The changing climate, coupled with the growing population, places increased demands on water treatment facilities [13]. Between the years 1950-2000, the United States' population increased from 152.3 to 272.7 million [14], but the demands on its water supply systems increased by more than three-fold during this period, as determined by the U.S. Environmental Protection Agency (USEPA) [15]. The energy consumption of DWTPs and WWTPs corresponds to about 56-75 billion kWh year −1 [16,17], and costs about $4 billion annually [6]. These facilities account for up to 35% of a municipal government's energy budget [18]. A reduction in carbon emissions and reduced energy costs may be the motivating factors for incorporating PVs into the design of existing water infrastructures [15]. Ref. [19] determined that among t...

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“…And then they disaggregate further along 11 different financial actors (e.g., private banks, public banks, and utilities) and 11 types of renewable energy (RE) technologies (e.g., different kinds of power generation from solar radiation, wind or biomass) [8]. Krupa and Harvey (2017) have discussed a range of existing and emerging options for financing renewable electricity and uses the United States as a reference case study to contextualize the discussion [9]. Jiang and Duan (2016) put forward the corresponding mode of financing, which includes the government and financial institutions and establishes a financial support system to meet the financing needs of new energy enterprises [10].…”

Section: Literature Reviewmentioning

confidence: 99%

Research on the Renewable Energy Industry Financing Efficiency Assessment and Mode Selection

Lyu

Siekelová

2018

Sustainability

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Abstract:In recent years, environmental issues are attracting widespread attention by various countries around the world. In this context, the renewable energy industry has become a stimulus point for economic development and has great potential for development. Renewable energy industry financing is difficult due to its characteristics of high risk and long-term investment returns, and relying on existing financing channels make it present a glut of excess capacity. It is key to realize resource optimal allocation, solve overcapacity phenomenon and select the valid financing mode. This paper used Bloomberg New Energy Finance (BNEF) data and the data envelopment analysis (DEA) method to analyze the financing efficiency different parts of the global renewable energy industry and different ways of financing. It could be found that although the financing efficiency showed a trend of increasing year by year, the financing efficiency of each industry presented generally weak DEA efficiency, the comprehensive financing efficiency of wind power industry was higher. The article also found that the financing efficiency of project financing and Research and Development (R&D) were relatively high, and the equity market and venture capital and private equity were less efficient. The results of this paper play an important role in the overall financing status cognizance of the renewable energy industry and give suggestions about valid financing mode choice.

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Renewable electricity finance in the United States: A state-of-the-art review

Cited by 51 publications

References 14 publications

What are You Waiting to Invest? Long-Term Investment in Grid-Connected Residential Solar Energy in California. A Real Options Analysis.

What are You Waiting to Invest? Long-Term Investment in Grid-Connected Residential Solar Energy in California. A Real Options Analysis.

An Analysis of Energy Consumption and the Use of Renewables for a Small Drinking Water Treatment Plant

Research on the Renewable Energy Industry Financing Efficiency Assessment and Mode Selection

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