Role of energy finance in geothermal power development in Japan

Taghizadeh–Hesary, Farhad; Mortha, Aline; Farabi-Asl, Hadi; Sarker, Tapan; Chapman, Andrew; Shigetomi, Yosuke; Fraser, Timothy

doi:10.1016/j.iref.2020.06.011

Cited by 36 publications

(12 citation statements)

References 23 publications

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“…Therefore, the results recommend the existence of one cointegration equilibrium relationship between financial development, trade openness, government investment, oil revenues, and energy intensity. Consequently, VECM is the appropriate method for this study (Hasanov, 2020;Taghizadeh-Hesary et al, 2020). Since the result show that 1 r  we must set a column of matrix B  to zero, and consider this column as 1(5 1) 4  independent restrictions.…”

Section: Source: Estimation Resultsmentioning

confidence: 99%

“…We analyze the variance decomposition, as the last step of the empirical analysis. Variance decomposition in the context of VEC and VAR models is interpreted as a part of the total variance of the variables derived from structural innovations (Taghizadeh-Hesary et al, 2020). Variance decomposition shows the explanatory power of variables for energy intensity variations (see Appendix C ).…”

Section: Source: Estimation Resultsmentioning

confidence: 99%

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Energy intensity determinants based on structure-oriented cointegration by embedding a knowledge box in a time series model: evidence from Iran

Esmaeili

Rafei

2021

Environ Sci Pollut Res

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Energy intensity reduction is an exigent issue for Iran, where energy consumption is so high. Therefore, finding effective policies to reduce energy intensity is important. With this in mind, the impact of financial development, government investment, oil revenues, and trade openness on energy intensity is assessed in this study. We combined Structural Vector Error Correction Model (SVECM) and Directed Acyclic Graphs (DAG) technique to examine the relationships between study variables. The results of DAG prove that financial development, government investment, oil revenues, and trade openness influence the intensity of energy. Besides, the significant and long-run relationships among variables allowed us to apply SVECM. Impulse response functions and variance decomposition analysis indicate that government investment, oil revenues, and trade openness are negatively associated with the intensity of energy. Also, financial development positively influences energy intensity. Meanwhile, the impact of government investment is greater than oil revenues, trade openness, and financial development impacts. So, Government investment is the most effective policy regarding optimizing the consumption of energy and reducing energy intensity.We also advise policymakers to use oil revenues to increase government investment, enhancing the level of trade openness, and tax to the private sector to improve the level of energy intensity.

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Section: Source: Estimation Resultsmentioning

confidence: 99%

Section: Source: Estimation Resultsmentioning

confidence: 99%

Energy intensity determinants based on structure-oriented cointegration by embedding a knowledge box in a time series model: evidence from Iran

Esmaeili

Rafei

2021

Environ Sci Pollut Res

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“…Finally, in mountainous volcanic areas, there is a great potential for the production of geothermal energy (Figure 1). Worldwide, there are several areas where this type of energy is extensively explored, such as in Iceland (e.g., Spittler et al, 2020), New Zealand (e.g., Kumar et al, 2021), United States (e.g., Neves et al, 2021), Japan (Taghizadeh-Hesary et al, 2020) and Italy (Pellizzone et al, 2017). There is an increasing trend of geothermal exploitation (https://www.irena.org/geothermal).…”

Section: Ecosystem Services Provisioningmentioning

confidence: 99%

Servicios ecosistémicos en áreas de montaña: beneficios y amenazas

et al. 2022

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Las áreas de montaña tienen un impacto importante en las dinámicas climáticas y son una de las fuentes de agua con condiciones más críticas. Las montañas fueron claves en la evolución histórica del ser humano y suministraron servicios ecosistémicos (SE) bióticos y abióticos esenciales para la vida humana. Este artículo de perspectiva estudiará la importancia de las montañas para el suministro de SE y los impactos de los diferentes factores de cambio, a saber, cambios en el hábitat, el cambio climático, la sobreexplotación, la contaminación y las especies invasoras. Las zonas de montaña tienen una gran capacidad para suministrar un número importante de recursos reguladores (regulación del clima global y local, regulación de la calidad del aire, regulación de los riesgos naturales, polinización), de aprovisionamiento (cultivos, ganado, alimentos y pesca silvestre, biomasa para energía y madera, energía renovable de agua dulce -hidroeléctrica, eólica, solar y geotérmica- y recursos minerales) y culturales (ocio y turismo, estética e inspiración del paisaje, patrimonio cultural y diversidad cultural y sistemas de conocimiento). Sin embargo, los cambios impuestos por la modificación del hábitat, el cambio climático, la sobreexplotación, la contaminación y las especies invasoras pueden aumentar los intercambios entre los SE y desencadenar la degradación del medio ambiente. En general, es necesario equilibrar la utilización de los SE de montaña y reducir los efectos de los distintos factores de cambio.

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“…Japan, having the third largest geothermal potential in the world, 150 has put legal framework and policy in supporting geothermal development. After 1973 oil shock, Japanese government rule out the “Sunshine Project” which promotes R&D to overcome energy generation issue and lead to the establishment of New Energy and Industrial Technology Development Organization (NEDO) 151 . In 2012, Japan has replaced the Renewable Portfolio Scheme with Feed‐in‐Tariff (FIT) scheme and implemented several energy finance policy to support renewable energy development.…”

Section: Government Policymentioning

confidence: 99%

Geothermal energy extraction using abandoned oil and gas wells:Techno‐economicand policy review

Kurnia

Shatri

Putra

et al. 2021

Intl J of Energy Research

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Summary Retrofitting depleted oil wells to extract geothermal energy is considered as one of the promising proposals to extend the overall economic life of oil and gas well. For successful implementation of this initiative, a comprehensive overview covering all aspects of geothermal energy extraction from abandoned oil well should be taken into account including technical, economic considerations as well as regulations and policies of respective local governments. Unfortunately, most reported studies have been focused only on one or two aspects, primarily on technical and economic aspects. Little or no study has focused on the policy sector. Moreover, these findings have been scattered, creating difficulties to extract essential information and dragging further development of the technology. This paper is therefore prepared with the objective to provide a comprehensive overview on the geothermal energy extraction from abandoned oil well, technical challenges in its implementation, economical consideration on the conversion of the well and government policy on energy especially geothermal energy and regulation on the utilization of abandoned oil well. To achieve this objective, extensive literature reviews are conducted with more attention given to recent studies on the field. Challenges on the development of this technology are discussed from technical, economic, and policy perspectives. Based on the identified challenges, required research and development as well as necessary policies for further advancement of this technology are outlined and discussed. By providing this comprehensive information, this review paper may serve as a good foundation and guidelines on the conversion of abandoned oil wells into geothermal energy wells.

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Role of energy finance in geothermal power development in Japan

Cited by 36 publications

References 23 publications

Energy intensity determinants based on structure-oriented cointegration by embedding a knowledge box in a time series model: evidence from Iran

Energy intensity determinants based on structure-oriented cointegration by embedding a knowledge box in a time series model: evidence from Iran

Servicios ecosistémicos en áreas de montaña: beneficios y amenazas

Geothermal energy extraction using abandoned oil and gas wells:Techno‐economicand policy review

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