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Optimum Renewable Energy Investment Planning in Terms of Current Deficit: Turkey Model

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Department of Economics, Karamanoglu Mehmetbey University, 70100 Karaman, Turkey
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Department of Mathematics, Karamanoglu Mehmetbey University, 70100 Karaman, Turkey
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Department of Economics, Selcuk University, 42130 Konya, Turkey
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Selcuk University, Institute of Social Sciences, Department of Economics, 42130 Konya Turkey
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Author to whom correspondence should be addressed.
Energies 2020, 13(6), 1509; https://doi.org/10.3390/en13061509
Received: 3 March 2020 / Revised: 19 March 2020 / Accepted: 20 March 2020 / Published: 22 March 2020
(This article belongs to the Section Sustainable Energy)
In this study, a methodology was suggested for wind and solar energy investment plans through linear optimization model for the countries with an energy-based current deficit problem. The originality of the study is that it is a renewable energy investment model based on the functioning of the balance of payments for current deficit reduction, which has not previously been encountered in the literature. While creating the model, without causing external economic imbalance, certain parameters were taken into consideration such as profit transfers for the foreign direct investments, interest payments for the domestic investments, import rates for the wind and solar energy systems, energy electric power production values, electric power load balance, electricity transmission infrastructure, CO2 emission, future electric power demand projection, and import source rates in the electric power production. It was proven that the model, for the 2019–2030 period in Turkey, not only is an opportunity for decreasing the current deficit but also ensures reaching the CO2 emission reduction target. Additionally, through the investments in wind and solar energy, it was calculated that fossil-based electric power production will decrease by 80%, and a CO2 reduction will be provided, which is equivalent of 100 million tonnes GWh natural gas. As a more general result, an optimization model was created which provides a solution for countries coping with energy-based current deficit in economic terms, energy-based air pollution in environmental terms, and renewable energy technology insufficiency. View Full-Text
Keywords: renewable energy; solar and wind energy; investment optimization; energy economics; energy-based current deficit renewable energy; solar and wind energy; investment optimization; energy economics; energy-based current deficit
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Saçık, S.Y.; Yokuş, N.; Alagöz, M.; Yokuş, T. Optimum Renewable Energy Investment Planning in Terms of Current Deficit: Turkey Model. Energies 2020, 13, 1509.

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