Renewable energy microgrids: Economic evaluation and decision making for government policies to contribute to affordable and clean energy

Wang, Thomas J.; Hsu, Shu-Chien; Zheng, Saina; Chen, Jieh Haur; Li, Xuran Ivan

doi:10.1016/j.apenergy.2020.115287

Cited by 87 publications

(17 citation statements)

References 83 publications

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“…The construction of renewable energy projects ensures the future generation of low-cost energy plants that produce electricity without major environmental degradation. New installations for generating electricity from renewable energy are, on a total cost basis, cost-effective compared to conventional fuels if the costs calculate long-term fuel cost and environmental cost and benefits are taken into account [183]. Energy storage improves the efficiency of the electricity grid by increasing the capacity of existing resources, thus offsetting the need to build new, polluting peak power plants.…”

Section: Renewable Energy Impact At the Utility Side And The Benefits For The Systemmentioning

confidence: 99%

Renewable Energy in the Sustainable Development of Electrical Power Sector: A Review

et al. 2021

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The electrical power sector plays an important role in the economic growth and development of every country around the world. Total global demand for electric energy is growing both in developed and developing economies. The commitment to the decarbonization of economies, which would mean replacing fossil fuels with renewable energy sources (RES) as well as the electrification of transport and heating as a means to tackle global warming and dangerous climate change, would lead to a surge in electricity consumption worldwide. Hence, it appears reasonable that the electric power sector should embed the principles of sustainable development into its functioning and operation. In addition, events such as the recent European gas crisis that have emerged as a result of the massive deployment of renewables need to be studied and prevented. This review aims at assessing the role of the renewable energy in the sustainable development of the electrical power sector, focusing on the energy providers and consumers represented both by businesses and households that are gradually becoming prosumers on the market of electric energy. Furthermore, it also focuses on the impact of renewables on the utility side and their benefits for the grid. In addition, it identifies the major factors of the sustainable development of the electrical power sector.

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Section: Renewable Energy Impact At the Utility Side And The Benefits For The Systemmentioning

confidence: 99%

Renewable Energy in the Sustainable Development of Electrical Power Sector: A Review

et al. 2021

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“…The government plans for R&D of RERs (instead of enterprises), because the R&D plan of RERs can bring about a green environment, eliminate haze, return fresh air to people's lives, meet goals for low-carbon green growth, and save petrochemical energy consumption (Hong et al, 2009). Furthermore, R&D can dominate the consumption of RERs, whose effect on consumption is higher than the impact of policy and energy intensity (Wang R. et al, 2020). Additionally, the impact of R&D on RERs consumption is affected by the level of GDP, and the impact will be greater at a high level of GDP per capita (Kocsis and Kiss, 2014).The government may also subsidize firms that research and develop RERs, which can promote the development of RERs (Wu et al, 2020).…”

Section: Smart Pig Game Modelmentioning

confidence: 99%

Planning the R&D of Marine Renewable Energy Resources: Avoiding Bottlenecks and Ensuring Sustainable Development in Developing Marine Economies

Failler

et al. 2021

Front. Environ. Sci.

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Planning for the research and development (R&D) of renewable energy resources (RERs) has not received enough attention. This paper aims to study the planning for the R&D of RERs in order to avoid bottlenecks and ensure sustainable development in developing marine economies. We have established a triple difference model (DDD) model and a wise pig game model between the theoretical government and enterprise. The data on RERs come from the World Bank and International Energy Agency databases. We have three contributions on the basis of distinguishing between mature and immature marine RERs technologies. First, it emphasizes the importance of developing R&D planning for marine RERs immature technology in the future. Second, the DDD model is used to empirically establish whether RERs planning has a significant positive impact on RERs’ output, which explains the importance of existing RERs planning. Third, the wise pig game model is used to analyze the welfare benefits to the government brought by the R&D planning of marine RERs which proves the importance of future RERs R&D planning.

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“…Moreover, the AI will affect the five targets (100%) within SDG 7 positively because of its ability to improve the operation, efficiency, and development of RE to reduce the energy cost and emissions. For instance, Wang et al, reported that by 2050, the costs of RE was projected to be much lower than non-RE 42 . Furthermore, the utilization of RE resources will reduce the CO2 emission in the power sector to approximately 70% by 2050 30 .…”

Section: Re Utilization and Social Outcomesmentioning

confidence: 99%

Impact of Renewable Energy Utilization and Artificial Intelligence in Achieving Sustainable Development Goals

Hannan

Al-Shetwi

Begum

et al. 2021

Preprint

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Many countries around the world are planning to reach 100% renewable energy (RE) use by 2050. In this context and due to the recent sharp increase in RE utilization in the global energy mix along with its progressive impact on the world energy sector, the evaluation and investigation of its effect on achieving sustainable development goals (SDGs) are not covered sufficiently. Here, we present an assessment of the emerging role of RE utilization and artificial intelligence (AI) toward achieving SDGs. A total of 17 SDGs were divided into three groups, namely, environment, society, and economy, as per the three key pillars of sustainable development. The RE has a positive impact toward achieving 75 targets across all SDGs by using an expert elicitation method-based consensus. However, it may negatively affect the accomplishment of the 27 targets. In addition, the AI can help the RE to enable the attainment of 42 out of 169 targets. With the current exponential growth of RE share and AI development together with addressing certain present limitations, this impact may cover additional targets in the future. Nevertheless, the present research foci neglect significant facets. The exponential growth of RE share and rapid evolution of AI need to be accompanied through the requisite regulatory insight and technology regulation to cover additional targets in the future.

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Renewable energy microgrids: Economic evaluation and decision making for government policies to contribute to affordable and clean energy

Cited by 87 publications

References 83 publications

Renewable Energy in the Sustainable Development of Electrical Power Sector: A Review

Renewable Energy in the Sustainable Development of Electrical Power Sector: A Review

Planning the R&D of Marine Renewable Energy Resources: Avoiding Bottlenecks and Ensuring Sustainable Development in Developing Marine Economies

Impact of Renewable Energy Utilization and Artificial Intelligence in Achieving Sustainable Development Goals

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