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Energies
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Finance and Economics of Energy Transition
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Finance and Economics of Energy Transition

A special issue of Energies (ISSN 1996-1073). This special issue belongs to the section "C: Energy Economics and Policy".

Deadline for manuscript submissions: closed (30 September 2023) | Viewed by 8165

Special Issue Editors

Dr. Paulo Rotella Junior

E-Mail Website
Guest Editor
Production Engineering Department, Federal University of Paraiba, Joao Pessoa 58051-900, PB, Brazil
Interests: finance; feasibility analysis; regulation; stochastic analysis; simulation; multiobjective optimization; renewable energy; energy storage systems
Special Issues, Collections and Topics in MDPI journals
Dr. Luiz Célio Souza Rocha

E-Mail Website
Guest Editor
Department of Management, Federal Institute of Education, Science and Technology—North of Minas Gerais, Almenara 39900-000, MG, Brazil
Interests: finance; feasibility analysis; regulation; stochastic analysis; simulation; multiobjective optimization; design of experiments; renewable energy; energy storage systems
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

The Guest Editors are inviting submissions to a Special Issue of Energies on the subject area of “Finance and Economics of Energy Transition”.

The world has witnessed an energy transition process that can be defined as a change from energy matrices based on fossil fuels to energy from renewable sources. This transition will be made possible by both technological evolution and the development of public policies and market instruments. As energy transition generates increased system management complexity, technical–economic feasibility analysis becomes increasingly intricate, requiring innovative and interdisciplinary methodologies.

This Special Issue will deal with the Economic and Financial Perspectives on Energy Transition. The topics of interest for publication include but are not limited to:

  • Financial and economic analysis;
  • Public policies and regulation;
  • The financial market;
  • Emission trading schemes;
  • Hybrid generation systems;
  • Energy storage systems;
  • Smart grids;
  • Utility-scale technologies;
  • Distributed generation;
  • Planning and optimization;
  • Modeling and simulation;
  • Stochastic studies;
  • Efficiency analysis;
  • Risk analysis and management;
  • Environmental viability;
  • Applications in emerging and developing economies.

Dr. Paulo Rotella Junior
Dr. Luiz Célio Souza Rocha
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Energies is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • Renewable energy
  • Energy transition
  • Regulation
  • Energy storage systems
  • Hybrid systems
  • Economic feasibility
  • Optimization techniques

Published Papers (3 papers)

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Research

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16 pages, 1293 KiB  
Article
Energetic and Economic Analysis of Spineless Cactus Biomass Production in the Brazilian Semi-arid Region
by Jéssica Bárbara da Silva, Edvaldo Pereira Santos Júnior, João Gabriel Távora Pedrosa, Aldo Torres Sales, Everardo Valadares de Sa Barretto Sampaio, Rômulo Simões Cezar Menezes, Emmanuel Damilano Dutra and Paulo Rotella Junior
Energies 2022, 15(14), 5270; https://doi.org/10.3390/en15145270 - 20 Jul 2022
Cited by 1 | Viewed by 1743
Abstract
The Brazilian semi-arid region is marked by a variable spatial-temporal rainfall distribution, concentrated over a 3 to 4 month season. Limited water availability is the main obstacle to the production of forage plants of C3 metabolism (such as corn and soybeans) and C4 [...] Read more.
The Brazilian semi-arid region is marked by a variable spatial-temporal rainfall distribution, concentrated over a 3 to 4 month season. Limited water availability is the main obstacle to the production of forage plants of C3 metabolism (such as corn and soybeans) and C4 metabolism (such as sugarcane), as well as livestock. To mitigate this forage supply, the spineless cactus (SC) has been cultivated in the region, producing high biomass amounts in this harsh environment. Recently, this remarkable capacity to produce biomass has drawn the attention of the renewable energy sector, supported by recent studies demonstrating the feasibility of its biomass as a raw material for bioenergy production. However, before moving to commercial scale, it is necessary to demonstrate that large-scale production has energy and economic viability for clean energy investors. Thus, the objective of this article was to analyze the energetic and economic viability of forage cactus cultivation systems in the Brazilian semi-arid region. The data used were extracted from the literature, based on forage production. For the energy evaluation, the energy balance was performed and the energy efficiency, energy productivity, specific energy, and net energy metrics were applied. The financial feasibility analysis used the Net Present Value (NPV) and Internal Rate of Return (IRR). The energy balance revealed that the SC cultivation is viable for biomass commercial-scale production, with an energy efficiency of 3.36, an energy productivity of 0.25 kg MJ−1, a specific energy of 13.5 MJ kg−1, and an energy balance of 127,348 MJ ha−1. For the economic aspect, considering an attractive minimum rate of return of 8%, production also proved to be viable, in a time horizon of three years. The Net Present Value and IRR metrics were USD 2196 and the IRR was 46%, respectively. The results found are important to encourage new investments in rural properties in the semi-arid region, and cultivation in new areas proved to be an efficient alternative from an energy and economic point of view, in addition to collaborating for the energy transition to sustainable sources and in the mitigation of regional environmental impacts. Full article
(This article belongs to the Special Issue Finance and Economics of Energy Transition)
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12 pages, 1226 KiB  
Article
Empirical Evidence of the Cost of Capital under Risk Conditions for Thermoelectric Power Plants in Brazil
by Luiz Moreira Coelho Junior, Amadeu Junior da Silva Fonseca, Roberto Castro, João Carlos de Oliveira Mello, Victor Hugo Ribeiro dos Santos, Renato Barros Pinheiro, Wilton Lima Sousa, Edvaldo Pereira Santos Júnior and Dorel Soares Ramos
Energies 2022, 15(12), 4313; https://doi.org/10.3390/en15124313 - 13 Jun 2022
Cited by 5 | Viewed by 1169
Abstract
This article analyzed the cost of capital under risk conditions for thermoelectric plants in Brazil, applying the Capital Asset Pricing Model—CAPM and the Weighted Average Capital Cost—WACC. To estimate the local CAPM, we used information from the Electric Energy Index—IEE of publicly traded [...] Read more.
This article analyzed the cost of capital under risk conditions for thermoelectric plants in Brazil, applying the Capital Asset Pricing Model—CAPM and the Weighted Average Capital Cost—WACC. To estimate the local CAPM, we used information from the Electric Energy Index—IEE of publicly traded companies in the electricity sector in Brazil and for the global CAPM, we observed the companies associated with the Edison Electric Institute—EEI, listed on the New York Stock Exchange—NYSE and at the National Association of Securities Dealers Automated Quotations—NASDAQ—USA. The risk conditions for capital costs were represented by Monte Carlo simulation using, as a basis, the WACC of a fuel oil thermoelectric plant and the local and global CAPM. The main results show that the IEE and EEI companies obtained a positive average daily return. Due to the Brazil risk, under deterministic conditions, the local WACC (11.13% p.a.) was more attractive to investors when compared to the global WACC (10.32% p.a.) and the regulatory WACC of 10.55% p.a., established by the National Electric Energy Agency—ANEEL. The most risk-sensitive input variables were: unleveraged beta, net debt and equity. Under risk conditions observed by the market from the point of view of Brazilian companies, the chances of the WACC of the fuel oil thermoelectric plant being 11.1% p.a. was 68.30% and from a global perspective, the chance of WACC being 10.32% p.a. was 99.51%. It is concluded that the cost of capital under risk conditions provides a more realistic view of decision-making for privately held companies. Full article
(This article belongs to the Special Issue Finance and Economics of Energy Transition)
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Review

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24 pages, 2995 KiB  
Review
Main Trends and Criteria Adopted in Economic Feasibility Studies of Offshore Wind Energy: A Systematic Literature Review
by Arthur Leandro Guerra Pires, Paulo Rotella Junior, Sandra Naomi Morioka, Luiz Célio Souza Rocha and Ivan Bolis
Energies 2022, 15(1), 12; https://doi.org/10.3390/en15010012 - 21 Dec 2021
Cited by 16 | Viewed by 4218
Abstract
Offshore wind energy has been identified as one of the most promising and increasingly attractive sources of energy. This technology offers a long-term power-generation source, less environmental impact, and fewer physical restrictions. However, given the complexity of this technology, economic feasibility studies are [...] Read more.
Offshore wind energy has been identified as one of the most promising and increasingly attractive sources of energy. This technology offers a long-term power-generation source, less environmental impact, and fewer physical restrictions. However, given the complexity of this technology, economic feasibility studies are essential. Thus, this study aims to identify the main trends and criteria or the methods used in the economic feasibility studies of offshore wind energy, providing a review of the state of the art in this literature. For this, a Systematic Literature Review was carried out. The article shows the growing interest in offshore wind power generation and highlights how recently the interest in the studies that assess the technical–economic feasibility of this source has grown; it presents the main milestones of the topic. Based on a structured literature review, this article identifies the main trends in this topic: (i) wind farms, (ii) risk, (iii) floating offshore wind farms, (iv) decommissioning and repowering, (v) net present value, (vi) life cycle cost, and (vii) multi-criteria decision-making; it provides a broad view of the methodological possibilities and specificities for investors and researchers interested in conducting studies on the economic feasibility of offshore wind generation. In addition, finally, a research agenda is proposed. Full article
(This article belongs to the Special Issue Finance and Economics of Energy Transition)
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