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Author : Connor Brady
Publisher :
ISBN 13 :
Total Pages : 49 pages
Book Rating : 4.:/5 (88 download)
Download or read book The Optimization of the New Jersey Solar Renewable Energy Credit (SREC) Market written by Connor Brady and published by . This book was released on 2014 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michael Coulon
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (13 download)
Download or read book SMART-SREC written by Michael Coulon and published by . This book was released on 2015 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Markets for solar renewable energy certificates (SRECs) are gaining in prominence in many states, stimulating growth of the U.S. solar industry. However, SREC market prices have been extremely volatile, causing high risk to participants and potentially less investment in solar power generation. Such concerns necessitate the development of realistic, flexible and tractable models of SREC prices that capture the behavior of participants given the rules that govern the market. We propose an original stochastic model called SMART-SREC to fill this role, building on established ideas from the carbon pricing literature, and including a feedback mechanism for generation response to prices. We calibrate the model to the New Jersey market and backtest it, analyzing parameter sensitivity and demonstrating its ability to reproduce historical dynamics. Finally, we run simulations to investigate the role and impact of regulatory parameters, thus providing insight into the crucial role played by market design.
Author : Sanya Carley
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)
Download or read book Solar Set Asides and Renewable Energy Certificates written by Sanya Carley and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the market developments in North Carolina's solar energy industry following the state's adoption of a renewable portfolio standard (RPS). It first reviews how solar renewable electricity certificates (SRECs) are intended to act as a support mechanism for the installation and financing of solar power in North Carolina's RPS compliance market. The paper then analyzes why SRECs have not precipitated growth in the solar industry thus far. Instead of attracting a diversity of solar installation and SREC trading businesses to create a competitive market to North Carolina, the RPS has only enabled a few large solar power producers to compete with utility companies to finance, install, and operate solar generating systems. A comparison between the SREC markets in North Carolina, Pennsylvania, and New Jersey reveals that transparency in prices and volumes of SRECs, limits on utility company self-ownership of solar generators, and more aggressive solar set-aside targets are required to create a competitive market environment that will attract a sustainable and growing solar industry.
Author : National Renewable Energy Laboratory (Nr
Publisher :
ISBN 13 : 9781296042714
Total Pages : 62 pages
Book Rating : 4.0/5 (427 download)
Download or read book Solar Renewable Energy Certificate (Srec) Markets written by National Renewable Energy Laboratory (Nr and published by . This book was released on 2015-02-15 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Author :
Publisher :
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.:/5 (873 download)
Download or read book Solar Renewable Energy Certificate (SREC) Markets written by and published by . This book was released on 2011 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines experience in solar renewable energy certificate (SREC) markets in the United States. It describes how SREC markets function--key policy design provisions, eligible technologies, state and regional eligibility rules, solar alternative compliance payments, measurement and verification methods, long-term contracting provisions, and rate caps. It also examines the trends of SREC markets--trading volumes, sourcing trends, trends in the size of solar photovoltaic (PV) systems driven by these markets, and trends in price and compliance. Throughout, the paper explores key issues and challenges facing SREC markets and attempts by policymakers to address some of these market barriers. Data and information presented in this report are derived from SREC tracking systems, brokers and auctions, published reports, and information gleaned from market participants and interviews with state regulators responsible for SREC market implementation. The last section summarizes key findings.
Author : Lori Bird
Publisher :
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.:/5 (768 download)
Download or read book Solar renewable energy certificate (SREC) markets written by Lori Bird and published by . This book was released on 2011 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Anco S. Blazev
Publisher : CRC Press
ISBN 13 : 877022322X
Total Pages : 788 pages
Book Rating : 4.7/5 (72 download)
Download or read book Energy Security for the 21st Century written by Anco S. Blazev and published by CRC Press. This book was released on 2021-01-14 with total page 788 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book takes a very close look at energy and energy security from a hands-on, technical point of view with an ultimate goal of sorting out and explaining the deep meaning of energy as well as the key factors and variables of our energy security. The book reviews the major energy sources—coal, crude oil, natural gas, the renewables, and other alternative fuels and technologies—according to the way they affect our energy security now and what consequences might be expected in the future. Topics include the different technical, logistics, regulatory, social, political, and financial aspects of modern energy products and technologies. The advantages and disadvantages of the different fuels, technologies, energy strategies, regulations, and policies are reviewed in detail, sorted, and clearly laid out as well as their effects on our present and future energy security in a way that is easy to understand by high school students, engineers, and professors alike. This book is a must-read for energy executives, environmental specialists, investors, bankers, lawyers, regulators, politicians, and anyone involved, or interested, in today’s energy production and use and their effects on our energy security.
Author : Charles F. Mason
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Volatility in Solar Renewable Energy Certificates written by Charles F. Mason and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economies are increasingly adopting renewable energy certificates as a policy mechanism to support the transition away from reliance on fossil fuels. We investigate the price of solar renewable energy certificates (SRECs) in New Jersey, allowing for the potential presence of jumps and time-varying volatility. We find that both features play an important role in the stochastic process describing SREC price returns. We also simulate the implied probability that at least one jump would occur in any given month. These implied probabilities indicate that jumps played a consistently important role in both SRECs and electricity prices. Jumps in SRECs appear to have been particularly noteworthy between late 2011 and early 2013, a period when electricity prices in New Jersey were relatively high. This result hints at the potentially important role of market structure in driving fat tails in price returns.
Author : Hanyu Zhang
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The Deferring Real Option with Solar Renewable Energy Certificates written by Hanyu Zhang and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this study, we evaluated investment in a utility-scale solar power plant using a real-option approach (ROA). Despite the fact that ROAs have been widely applied in the literature, the deferring option for a utility-scale power plant has not been fully examined, especially in the context of the unique subsidy program of solar renewable energy certificates (SREC) in the U.S. Using data from one of the most developed solar electricity markets in the state of New Jersey, we incorporated the time-varying volatility of electricity prices and bounded SREC prices in the real-option valuation. Our results showed that the deferring real option generated significant value for the project, ignored by the traditional discount cash flow approach, and that it was optimal to postpone the investment in over 70% of cases. In addition, we demonstrated that debt financing is crucial for renewable energy investments.
Author : Mary Elizabeth Kenny
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Distributed Energy Resources written by Mary Elizabeth Kenny and published by . This book was released on 2022 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The demand for renewable energy in New Jersey will continue to grow as economic opportunities and community support drive development. The effective integration of Distributed Energy Resources (DERs) will transform energy production, storage, and use. To achieve sustainable energy production, the current reliance on fossil fuels must be reduced and replaced with less carbon-intensive energy sources that optimize the electric grid. DERs help pioneer the path to a clean energy transition where the implementation of new renewable energy projects will diversify New Jersey’s energy portfolio and provide a more resilient, equitable, and independent energy source. This thesis investigates different perspectives of small wind and solar energy options that are supported by state and governmental initiatives in New Jersey and shows a quantitative review to support these programs. The research combines various scopes, resources, and methods to analyze current perspectives involved in the wind and solar industry with capacities under 10 MW (megawatt). The first assessment will consist of analyzing stakeholder values on sustainable community solar placement characteristics consisting of environmental and social-economic factors, and governmental support. The second assessment involves the aggregation of onshore wind turbine life cycle data and costs in combination with various life extension and disposal strategies to verify small-wind as a carbon-friendly and cost-effective energy source. In Chapter 1, we review the current conditions and motivation to transition to a clean energy resource, such as the current reliance on fossil fuels and the associated negative impact on local economies and ecosystems. Additionally, we explain how DERs can play a core role in facilitating energy goals better than large-scale utility projects through providing an opportunity to optimize the electric grid, the ability to account for flexible load demands, and increased targeted consumer economic benefits (such as reduced rates). The impact of implementing DERs is strategic and will be critical in supporting the energy transition process. A fundamental principle for sustainable energy development is the optimization of the grid. In Chapter 2, environmental, social, and technical land use characteristics are utilized to determine strategic community solar placement. In this objective we analyzed 9 completed survey responses from solar providers and environmental organizations to gain clarity on their beliefs toward the community solar program, its impact on communities and the environment, challenges, and the future of the industry. The information that was collected through the survey was categorized into a Saaty Rating Scale using an Analytical Hierarchy Process (AHP) to determine the relative importance of each variable. This data was then represented spatially using an intuitive mapping analysis tool, ArcGIS Pro, to visualize optimal shared solar locations. In Chapter 3, we utilize a Life Cycle Cost Assessment (LCCA) that estimates the environmental and economic impacts of a 1.5 MW onshore wind turbine using Life Cycle Assessment (LCA) and Life Cycle Cost (LCC). This objective involves scenario analysis of various disposal and life extension options. The assessment can inform policymakers who want to achieve economically viable clean energy alternatives. In Chapter 4, we review policies and implications of this study and how DERs can play a role in promoting sustainable energy practices that are eco-conscious and provide benefits to low to moderate income populations. These methods assist in providing a comprehensive understanding of small-scale wind and solar that can support environmental-focused policies and future decision-making.
Author :
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (14 download)
Download or read book Implications of the Scheduled Federal Investment Tax Credit Reversion for Renewable Portfolio Standard Solar Carve-Out Compliance written by and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Solar carve-outs, which require a percentage of a state's renewable portfolio standard (RPS) to be met with solar resources, have price caps in eight states: Maryland, Massachusetts, New Hampshire, New Jersey, Delaware, Ohio, Pennsylvania, and Washington, D.C. These price caps--called solar alternative compliance payments (SACPs)--allow for RPS compliance without supporting solar deployment through the procurement of solar renewable energy certificates (SRECs). SRECs represent the environmental attributes of one megawatt-hour of solar generation. If solar projects cannot be developed with an SREC price that is lower than the SACP, new solar deployment may be postponed. We examine the potential impact of the scheduled reversion of the Section 48 investment tax credit (ITC) in 2017 from 30% to 10% of project costs for corporate entities on solar carve-out compliance. In all the states examined, state policies currently have a considerable impact on reducing solar project costs under both high and low cost scenarios. To date, most state policymakers have not focused explicitly on implementing policies to address the ITC reversion. Examples of such polices include: extension of state tax credits or rebates, or expansion of net metering program caps.
Author : Arvind Shrivats
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (133 download)
Download or read book Optimal Control and Mean-Field Game Approaches in Renewable Energy Markets written by Arvind Shrivats and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: SREC markets are market based systems designed to incentivize the production of energy from solar means. A regulator imposes a floor on the amount of energy each regulated firm must generate from solar power in a given period and provides them with certificates for each generated MWh. Firms offset these certificates against the floor and pay a penalty for any lacking certificates. Certificates are tradable assets, allowing firms to purchase/sell them freely. This thesis investigates the problem of optimal behaviour for both regulated firms and regulators in SREC markets by leveraging techniques from stochastic control, mean field games, and principal-agent games, accounting for the costs the agents regulated by SREC markets face, and their interaction amongst one another. The thesis contains three main parts, with increasing levels of complexity. In the first, we study the optimal control problem faced by a single agent optimizing their behaviour within an SREC market. We propose a model for the firm's costs and for the prevailing SREC price, which incorporates generation costs, trading costs, and price impacts. Using the Stochastic Maximum Principle, we obtain optimality conditions for said firm's optimal behaviour. We develop a numerical algorithm to obtain their optimal controls, conduct myriad experiments, and validate our theoretical optimality conditions. Following this, we consider the possible interactions regulated firms may have on one another, by simultaneously solving for all regulated firms' behaviour to obtain a Nash equilibrium, using tools from mean field games and variational analysis. This requires approximating an SREC market, which has finite regulated agents, with an infinite-player version; however, we show that such an approximation is justified, and the optimal firm behaviour for the infinite-player market satisfies an $\epsilon$-Nash equilibrium property in finite population samples. Finally, we flip the perspective by considering the goals of the regulator in SREC markets, and studying their optimal design. We study this from a theoretical and numerical perspective, imposing a parametric family of possible market designs to make the numerical analysis tractable, as the theoretical analysis does not yet allow for complete solutions.
Author : Jeffery Odum
Publisher : John Wiley & Sons
ISBN 13 : 1119369177
Total Pages : 384 pages
Book Rating : 4.1/5 (193 download)
Download or read book Process Architecture in Biomanufacturing Facility Design written by Jeffery Odum and published by John Wiley & Sons. This book was released on 2017-11-03 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essential information for architects, designers, engineers, equipment suppliers, and other professionals who are working in or entering the biopharmaceutical manufacturing field Biomanufacturing facilities that are designed and built today are radically different than in the past. The vital information and knowledge needed to design and construct these increasingly sophisticated biopharmaceutical manufacturing facilities is difficult to find in published literature—and it’s rarely taught in architecture or design schools. This is the first book for architects and designers that fills this void. Process Architecture in Biomanufacturing Facility Design provides information on design principles of biopharmaceutical manufacturing facilities that support emerging innovative processes and technologies, use state-of-the-art equipment, are energy efficient and sustainable, and meet regulatory requirements. Relying on their many years of hands-on design and operations experience, the authors emphasize concepts and practical approaches toward design, construction, and operation of biomanufacturing facilities, including product-process-facility relationships, closed systems and single use equipment, aseptic manufacturing considerations, design of biocontainment facility and process based laboratory, and sustainability considerations, as well as an outlook on the facility of the future. Provides guidelines for meeting licensing and regulatory requirements for biomanufacturing facilities in the U.S.A and WHO—especially in emerging global markets in India, China, Latin America, and the Asia/Pacific regions Focuses on innovative design and equipment, to speed construction and time to market, increase energy efficiency, and reduce footprint, construction and operational costs, as well as the financial risks associated with construction of a new facility prior to the approval of the manufactured products by regulatory agencies Includes many diagrams that clarify the design approach Process Architecture in Biomanufacturing Facility Design is an ideal text for professionals involved in the design of facilities for manufacturing of biopharmaceuticals and vaccines, biotechnology, and life-science industry, including architects and designers of industrial facilities, construction, equipment vendors, and mechanical engineers. It is also recommended for university instructors, advanced undergraduates, and graduate students in architecture, industrial engineering, mechanical engineering, industrial design, and industrial interior design.
Author : Anthony J. Bevacqua
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (115 download)
Download or read book The Spatial Economics of Clean Energy in New Jersey written by Anthony J. Bevacqua and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Clean energy policy is critically important in driving reductions of greenhouse gases and mitigating climate change. As clean energy technologies improve over time and interact with social systems and broader energy markets, there is a need for innovative environmental management that supports development of new clean energy policy. Understanding where these technologies may be deployed, quantifying the anticipated benefits, and mitigating risks are required for successful policy optimization. With these considerations in mind, this dissertation explores geothermal heat pumps (GHP), solar photovoltaics, and the Regional Greenhouse Gas Initiative (RGGI). We call upon spatial economics to investigate these topics by incorporating the biophysical environment, socioeconomic factors, and economic considerations in our methodology to approach this problem from a holistic environmental management perspective. Reducing energy end use is a climate mitigation strategy that can be applied across the building, industry, and transportation sectors. Increasing energy efficiency, particularly in the building sector, is a promising means to reduce energy end use. In the second chapter of this dissertation, we perform a place-based investigation of GHP systems in New Jersey. In doing so we provide new baseline information on which building sectors this technology is most used and identify areas of significant clustering. Both of which provide insights for new energy efficiency policy within the study area. In the third chapter, we conduct a life cycle assessment of geothermal heat pumps to assess the cradle-to-grave environmental and human health impacts throughout the lifetime of a system operating in New Jersey. The results of this section highlight lower environmental and human impacts associated with GHP systems operating within New Jersey compared to the rest of the United States. We also conclude that GHP systems are significantly less impactful throughout their lifetime and operation as compared to other heating and cooling configurations that are common in the state. A combination of renewable energy technologies such as wind and solar photovoltaics will be an integral part of the clean energy electric generation portfolio of the future. Understanding where these systems are best located and how the public values their benefits can support smart policy decisions. In the fourth chapter, we evaluate solar photovoltaic potential using hosting capacity interpolation, multi-market suitability models, and remote sensing. The findings show hosting capacity of potential solar siting locations varies within each electric distribution company (EDC) territory. The results of the suitability models highlight areas for targeted local investigations of project suitability and community solar off-taker potential. Our municipal remote sensing analysis yield valuable local scale information of roof geometry, flood hazards, and solar radiation potential which can be used to streamline system siting and design. In the fifth chapter, we conduct a consumer willingness to pay survey for potential community solar customers in New Jersey. Evaluating the responses of over six-hundred residents underscores the common barriers to traditional residential net metering, such as home ownership and financial requirement. It also illuminates consumers’ willingness to participate in community solar projects that improve environmental quality and are sited in commercial settings and landfills. Reducing the carbon dioxide emissions associated with the electric generation sector will be crucial in mitigating future climate change. Emission trading schemes (ETS) are a regulatory approach that forces emitters to internalize the negative externalities of carbon dioxide with the goal of driving emission efficiency improvements and creating funding mechanisms to support other climate mitigation and adaptation efforts. In the sixth chapter, we perform a qualitative policy analysis of the Regional Greenhouse Gas Initiative (RGGI) ETS in the context of generation shifting mitigation. We identify the best mitigation approaches as the program expands to be a combination of increased monitoring and modeling, promoting load reductions through efficiency, and expanding the RGGI program to states within distribution systems that have partial state participation. In New Jersey, successful climate mitigation and clean energy transitions are a function of policy, available technology, and energy markets. Historically, stringent air quality regulations and inexpensive natural gas have led to efficient fossil generation within the state. Additionally, early progressive solar policies have led to a robust solar industry and resulting overall in-state solar photovoltaic capacity ranking high in the nation. Although low-hanging fruit may be relatively sparse, current political environments in the state have been supportive of improved climate action and sparked increased potential for academic research to make tangible contributions to new clean energy policy. As the state continues to transition towards a clean energy future, government administrations, regulatory agencies, grid operators, research institutions, and stakeholders must work alongside each other to develop new policies that support increased climate mitigation Currently in New Jersey, the potential of clean energy has not been adequately researched, particularly on local and regional scales. The goal of this research is to address this gap by contributing to the body of knowledge in our applied subject areas. The spatial economic approach can be used effectively in clean energy investigations because energy is inherently influenced by economics and geography. We anticipate the overall findings of this work to be applied within the study area to increase clean energy generation and access, promote the clean energy economy, and conserve valuable landscapes.
Author : Farahmand Rezvani
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (139 download)
Download or read book Renewable Energy written by Farahmand Rezvani and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we look at the energy composition of State of New Jersey and the role of renewable energy, specifically solar and wind energy. We examine the current policy of State of New Jersey with respect to renewable energy through its energy master plan and further analyze incentives provided by the State to promote renewable energy. Furthermore, this paper points to the obstacles such as changes in administration policy which leads to uncertainty in investment in renewable energy and consequently can prevent a smooth transition toward its path to 100% clean energy for New Jersey by 2050.
Author : Richard L. Sandor
Publisher : World Scientific Publishing Company Incorporated
ISBN 13 : 9789814612432
Total Pages : 380 pages
Book Rating : 4.6/5 (124 download)
Download or read book Sustainable Investing and Environmental Markets written by Richard L. Sandor and published by World Scientific Publishing Company Incorporated. This book was released on 2014-10 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Brief Survey of Environmental Asset Classes; Market Failures and Policy Responses; Acid Rain Pollutants as an Asset Class; Greenhouse Gas Pollutants as an Asset Class; Emerging Geographies for Greenhouse Gas Emissions Markets; Forest Carbon as an Asset Class; Clean Energy Markets and Their Associated Asset Classes; Water Markets and Their Associated Asset Classes; Markets for Water Quality-Nutrient Trading; Sustainable Fisheries Management and Its Associated Asset Classes; Weather Risks and Associated Asset Classes; Sustainability and Associated Asset Classes; Conclusion: You Can Put a Price on Nature;
Author : P. Suresh
Publisher : Springer Nature
ISBN 13 : 9811550298
Total Pages : 836 pages
Book Rating : 4.8/5 (115 download)
Download or read book Advances in Smart System Technologies written by P. Suresh and published by Springer Nature. This book was released on 2020-08-29 with total page 836 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents select peer-reviewed proceedings of the International Conference on Frontiers in Smart Systems Technologies (ICFSST 2019). It focuses on latest research and cutting-edge technologies in smart systems and intelligent autonomous systems with advanced functionality. Comprising topics related to diverse aspects of smart technologies such as high security, reliability, miniaturization, energy consumption, and intelligent data processing, the book contains contributions from academics as well as industry. Given the range of the topics covered, this book will prove useful for students, researchers, and professionals alike.
