{"title":"Cash flow at risk of offshore wind plants","authors":"C. Vaienti, A. Ioannou, F. Brennan","doi":"10.1109/ICCEP.2017.8004797","DOIUrl":"https://doi.org/10.1109/ICCEP.2017.8004797","url":null,"abstract":"Offshore wind power plants might be seen as high risk investments. Their risk depends on technical and financial elements. When some corporations decide to invest in a plant, they decide to take all above-mentioned risks. The question “Given a specific investor, a specific plant, etc., how big are the investment risks?” has not a clear answer. In fact, the impact of the previous risk factors on cash flows is not completely quantified, mainly because all the risks are related, but the dependency structure is difficult to be modelled. Hence, it is important to have a measure of the impact of the risks into the cash flows. Due to the lack of knowledge in this quantification, we have decided to investigate it more in the detail. The paper aims to measure the variability of cash flows and how effective are the strategies for locking electricity prices, ship freight rates, or both in the reduction of this variability. We adopt the Monte Carlo approach for simulating all the possible cash flows and for measuring all the uncertainties. The output shows that seasonal and uncertain cash flows. The strategies, for reducing the probability of negative cash flows, work only with locked electricity prices.","PeriodicalId":388023,"journal":{"name":"2017 6th International Conference on Clean Electrical Power (ICCEP)","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128237457","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A cluster analysis of investment strategies in the offshore wind energy market","authors":"A. Ioannou, C. Vaienti, A. Angus, F. Brennan","doi":"10.1109/ICCEP.2017.8004841","DOIUrl":"https://doi.org/10.1109/ICCEP.2017.8004841","url":null,"abstract":"This paper maps different investor strategies in the offshore wind energy market based on data from existing wind farms in the UK. This is realized through the employment of cluster analysis, which classifies offshore wind energy investors - who have purchased equity stakes-in terms of the entry timing, exit timing, purchase timing and stake purchased. We, then, perform a SWOT analysis to identify the major strengths, weaknesses, opportunities and threats encountered by each cluster of stakeholders. Cluster analysis revealed the existence of three distinct investment strategy profiles: i) Late entry investors, ii) Pre-commissioning investors, and iii) Own-build-transfer investors. Corporate and institutional investors tend to be late entry investors, whose strategy is based on buying assets while they are fully operational avoiding construction risks, retaining a risk aversion profile. The exit timing of OEMs and EPCI contractors usually takes place before or right after the commissioning of the wind farm. Finally, major Utilities tend to keep the operating assets on their balance sheet and divest only part of them (mostly minority stakes) during the operating stage; Independent energy companies are found in both 2nd and 3rd cluster; however, exceptions may be observed.","PeriodicalId":388023,"journal":{"name":"2017 6th International Conference on Clean Electrical Power (ICCEP)","volume":"282 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123238480","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Using Gaussian process theory for wind turbine power curve analysis with emphasis on the confidence intervals","authors":"Ravi Kumar Pandit, D. Infield","doi":"10.1109/ICCEP.2017.8004774","DOIUrl":"https://doi.org/10.1109/ICCEP.2017.8004774","url":null,"abstract":"High operation and maintenance (O&M) costs may affect the profitability and growth of wind turbine industries in long term, especially where offshore wind farms are concerned. With the increase in age of wind turbines and the expansion of offshore wind, the operation and maintenance (O&M) cost is expected to grow significantly which reinforces the drive towards condition based maintenance. Wind turbine power curves play a central role in the assessment of turbine operational health. Gaussian process theory is finding increasing application in this current emerging research area. This paper investigates the potential of Gaussian process models to improve the representation of wind turbine power curves and in particular the importance of confidence intervals as determined by such modeling.","PeriodicalId":388023,"journal":{"name":"2017 6th International Conference on Clean Electrical Power (ICCEP)","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124440405","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Frequency control in power system based on balancing market considering wind power forecasting error","authors":"H. Bae, T. Tsuji, T. Oyama, K. Uchida","doi":"10.1109/ICCEP.2017.8004843","DOIUrl":"https://doi.org/10.1109/ICCEP.2017.8004843","url":null,"abstract":"In power systems with a large amount of wind power plants, frequency management is an important issue. Particularly, uncertain output depending on weather condition gives a large impact on frequency regulation. In this paper, we proposed a frequency control method in power systems based on balancing market with applying a penalty to forecasting error of the wind power output. Based on the situation in supply and demand balance in the power system, it is assumed that the owners of the wind power plants may find the optimal output which maximizes the owners' benefit with considering output curtailment and penalties corresponding to the forecasting error. It is the goal to maintain system frequency more efficiently, which means the better supply and demand balance. We performed a simulation based on power system model including generator dynamics, network and balancing market in order to confirm the variation in frequency. In addition, we calculated the price signal to be given to players in the balancing market and penalties with respect to players including generators, customers and the owners of wind power plants in the balancing market.","PeriodicalId":388023,"journal":{"name":"2017 6th International Conference on Clean Electrical Power (ICCEP)","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134424836","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Analysis of Photovoltaic modules attached with a vertical-axis wind turbine","authors":"A. Al Tarabsheh, M. Akmal, M. Hareb","doi":"10.1109/ICCEP.2017.8004789","DOIUrl":"https://doi.org/10.1109/ICCEP.2017.8004789","url":null,"abstract":"In this paper, we have analyzed the performance of rotating Photovoltaic (PV) modules integrated with an H- type vertical-axis wind turbine (VAWT) consisting of five blades. The PV modules used are flexible monocrystalline thin films. The importance of the proposed design over the conventional photovoltaic wind-hybrid systems are: first, it combines the turbine with PV modules resulting in a reduced utilized area (about 0.25m2). Second, the rotating PV modules self-cool themselves and prevent the dust accumulation on their surfaces resulting in an increase in their efficiencies compared to the fixed PV modules. This paper proves experimentally that the rotating PV modules produce more output voltage. We have also modeled the variation of the output voltage as a function of the operating temperatures by four parameters where the error doesn't exceed 1.2%. The output voltage readings of the PV modules are collected from the slip rings used in the design and then monitored by an Arduino microcontroller.","PeriodicalId":388023,"journal":{"name":"2017 6th International Conference on Clean Electrical Power (ICCEP)","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122884317","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Numerical analysis of light soaking phenomenon in Ruthenium based Dye Sensitized Solar Cells","authors":"A. Parisi, R. Pernice, G. Adamo, A. Cino","doi":"10.1109/ICCEP.2017.8004779","DOIUrl":"https://doi.org/10.1109/ICCEP.2017.8004779","url":null,"abstract":"Dye Sensitized Solar Cells (DSSCs) are widely considered one of the most promising third generation photovoltaic devices, especially thanks to their relatively low cost if compared to conventional solar cells. An interesting phenomenon affecting such devices is the so-called light soaking effect, consisting in the increase of cell main electrical parameters after the exposition to solar light. In this work, starting from the experimental characterization carried out on Ruthenium-based DSSCs, we report on a series of numerical analysis performed to better describe the above-mentioned light soaking effect in order to show the relationship between such phenomenon and the main physical parameters involved in photovoltaic generation in DSSCs. Our results show a good agreement between the experimental and the simulated data, hence allowing us to explain the trends followed by the main electrical parameters of DSSCs when exposed to solar light.","PeriodicalId":388023,"journal":{"name":"2017 6th International Conference on Clean Electrical Power (ICCEP)","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124194504","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Numerical evaluation of profitability of Estonian electricity-generating technologies","authors":"Izabella Faifer, M. Landsberg, J. Valtin","doi":"10.1109/ICCEP.2017.8004742","DOIUrl":"https://doi.org/10.1109/ICCEP.2017.8004742","url":null,"abstract":"The European Commission's proposals to adjust public intervention, diminish the costs of support and ultimately end support, raised the investors' concerns. Would the cut in the feed-in tariff stop invertors from investing and which effect will be on the already decided investment projects? In order to understand what impact this cut can have, it is important to analyze the profitability of the investments with and without subsidies, taking different uncertainties into account.","PeriodicalId":388023,"journal":{"name":"2017 6th International Conference on Clean Electrical Power (ICCEP)","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125815907","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
L. Lancellotti, E. Bobeico, A. Castaldo, P. D. Veneri, E. Lago, N. Lisi
{"title":"Doping of multilayer graphene for silicon based solar cells","authors":"L. Lancellotti, E. Bobeico, A. Castaldo, P. D. Veneri, E. Lago, N. Lisi","doi":"10.1109/ICCEP.2017.8004735","DOIUrl":"https://doi.org/10.1109/ICCEP.2017.8004735","url":null,"abstract":"In the present work we have tested the effects of graphene doping by nitrate ions and chlorine anions on graphene/n-silicon Schottky barrier solar cells, by the exposure to nitric acid and thionyl chloride vapors. In both cases the graphene doping process had beneficial effects on the power conversion efficiency (PCE) and thionyl chloride doping showed a better improvement than the one obtained with nitric acid. A solar cell with an initial PCE of 1.99% could be increased to 4.02% by nitric acid doping treatment while a solar cell with an initial PCE of 1.49% could be increased to 4.32% by thionyl chloride doping treatment.","PeriodicalId":388023,"journal":{"name":"2017 6th International Conference on Clean Electrical Power (ICCEP)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129182580","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
I. Marjanović, T. Bongers, J. Lichtinghagen, A. Moser
{"title":"Influence of Power-to-Gas-technology on unit commitment and power system operation","authors":"I. Marjanović, T. Bongers, J. Lichtinghagen, A. Moser","doi":"10.1109/ICCEP.2017.8004740","DOIUrl":"https://doi.org/10.1109/ICCEP.2017.8004740","url":null,"abstract":"According to the Energy Policy of European Union, renewable energy sources (RES) should supply 80% of the total demand for electrical energy in the year 2050. Due to seasonal intermittency of these production technologies, large-scale penetration of energy storage can be expected. Power-to-Gas (PtG) technology offers a possibility for long-term storage of excess electricity, as well as other advantages that result from the coupling with the gas system. In order to analyze effects of PtG units on the power system, especially with regards to their positioning, a simulation method modeling electricity markets and network operation is presented in this paper. Exemplary results show that PtG units can significantly contribute to the integration of RES energy. Their positioning is however a key factor, as transmission restrictions potentially limit the amount of electricity that can be transported and stored.","PeriodicalId":388023,"journal":{"name":"2017 6th International Conference on Clean Electrical Power (ICCEP)","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121948313","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Design and sizing of short term energy storage for a PV system","authors":"L. Palma","doi":"10.1109/ICCEP.2017.8004728","DOIUrl":"https://doi.org/10.1109/ICCEP.2017.8004728","url":null,"abstract":"Power generation in a PV system is defined by its V-I, and V-P characteristics. These curves are function of instantaneous solar irradiation and cell temperature; and outline the maximum power that the system can supply at any given moment. As a consequence of this PV systems lack overload capacity, which is common in traditional rotating generators; and therefore, PV systems cannot supply short term or transient load demands. To solve this issue two approaches can be taken; one is to constantly operate the PV system below its maximum power level, which has the drawback of non-optimal energy harvesting. The other is integration of energy storage elements to the power conditioning system, which allows optimizing power generation, while adding overload capacity. In addition, this approach also allows smoothing out short term irradiation variations allowing the system to improve energy harvesting. Focusing on the second approach analysis of short term energy storage requirements in PV systems is performed in this paper. As a result, sizing guidelines and a design procedure for a supercapacitor based energy storage system are developed. In addition, effectiveness of the proposed method on improving PV generator performance is tested and verified through computer simulations.","PeriodicalId":388023,"journal":{"name":"2017 6th International Conference on Clean Electrical Power (ICCEP)","volume":"131 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127035896","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}