Search Results (478)

This paper tests whether reinforcement learning improves monthly commodity-sector rotation once the experiment is reconstructed from investable instruments, strong active benchmarks, realistic costs, and strictly chronological validation. Total returns for energy (DBE), gold (GLD), agriculture (DBA), and base metals (DBB) are obtained from CRSP; GSG and DBC are investable broad-commodity benchmarks. Twelve lagged market-state features generate month-$t+1$ decisions. The initial training sample contains 132 targets through December 2018, the original holdout contains 72 months through December 2024, and a frozen-policy temporal extension adds 17 months through May 2026. All active results deduct 10 basis points per unit of drift-adjusted turnover, and Sharpe ratios use contemporaneous Treasury-bill returns. Six-month momentum earns an 18.6% CAGR and 1.112 excess Sharpe; a fixed 10-seed PPO ensemble earns 9.6% and 0.438. An expanding supervised expert selector earns 16.0% and 0.755. In an explicitly exploratory memory-window sensitivity, a 60-month rolling selector reaches 23.4% and 1.033, but its mean advantage over momentum is not statistically established ($p=0.323$). The pattern is consistent with time variation, but it neither identifies an optimal window nor establishes that older observations are harmful. PPO’s temporal-extension surge is concentrated in March 2026 and reverses when that month is removed. Direct deep RL therefore does not robustly dominate; constrained expert selection remains a research candidate whose memory sensitivity requires prospective confirmation. Full article

Using 1135 customer–supplier–year observations involving Chinese A-share listed firms and their major suppliers from 2011 to 2023, together with prefecture-level government work reports and patent-assignment records, we examine whether environmental policy pressure faced by downstream customers shapes upstream suppliers’ external green technology acquisition. External green technology acquisition is measured as the log-transformed annual number of green patents assigned to each supplier. We find that suppliers acquire more external green patents when their customers face stronger local environmental policy pressure, with a one-standard-deviation increase in policy intensity associated with approximately 5.7% higher external green patent acquisition. The result is robust to placebo tests, alternative measures, and PPML estimation, while instrumental-variable estimates point in the same direction. Further analyses document stronger customer green-transition urgency and supplier-perceived supply-chain uncertainty under greater downstream policy intensity, and they show that the relationship is stronger among suppliers with weaker bargaining power or lower R&D intensity. Environment-related policy intensity is more strongly associated with end-of-pipe technology acquisition, whereas energy-transition and market-incentive policy intensity are more strongly associated with source-control technology acquisition. Overall, the findings indicate that environmental policy intensity in downstream customers’ cities is associated with upstream suppliers’ external green technology acquisition within observed customer–supplier relationships. Full article

China’s transition toward a low-carbon and sustainable energy system requires renewable energy firms to align their technological decisions with environmental policy objectives. Drawing on the Porter hypothesis, this study examines how command-and-control, market-incentive, and voluntary environmental regulations influence firms’ utilization of three sustainable energy technologies (SETs): renewable electricity, energy-saving technologies, and waste management. It also assesses how these technological practices contribute to firm competitiveness. Survey data collected from 273 renewable energy firms in China’s hydropower, wind, and solar sectors were analyzed using partial least squares structural equation modelling. The results show that command-and-control and voluntary environmental regulations positively influence all three SET dimensions. Market-incentive environmental regulation positively affects energy-saving technologies and waste management but has no significant effect on renewable electricity utilization. Renewable electricity, energy-saving technologies, and waste management all positively contribute to firm competitiveness. These findings provide conditional support for the strong Porter hypothesis by demonstrating that technological responses that can improve firms’ competitiveness depend on the alignment between the regulatory instrument employed and the technology targeted. This study provides firm-level evidence for designing differentiated regulatory strategies that support both China’s decarbonization objectives and the competitiveness of renewable energy firms. Full article

Industrial legacy cities are trapped in carbon lock-in—a self-reinforcing condition where fossil-fuel infrastructure, industrial structures, and institutional inertia collectively resist urban energy transition. Yet whether and how industrial upgrading policies (IUP) can effectively disrupt this lock-in remains unclear. Using panel data from 148 Chinese legacy cities over 2012–2022, we employ a staggered difference-in-differences model combined with policy-text quantification to evaluate the effects of IUP. Results show that IUP significantly raises urban energy transition by 2.52 percentage points, with technology-enabling instruments delivering the strongest leverage among the three policy tool categories. Mechanism analysis uncovers a co-evolutionary mismatch: green technology innovation mediates 42.21% of the total effect, while the mediating pathway through energy consumption structure remains statistically insignificant—evidence that production-side innovation and energy-side infrastructure exhibit systematically divergent adjustment elasticities in response to industrial upgrading policy. Policy effects also differ across city types, with stronger responses in old industrial base, regenerative, and single-type cities. These findings advance carbon lock-in theory by identifying co-evolutionary mismatch as a distinct source of structural friction in urban industrial transitions and provide actionable pathways for aligning urban industrial restructuring with decarbonization goals. Full article

Renewable energy communities (RECs) are increasingly recognised as important instruments for accelerating the transition towards decentralised, low-carbon energy systems. However, technological progress and supportive policies alone cannot ensure their success, as participation depends largely on citizens’ behavioural readiness. This study investigates the behavioural determinants of participation in renewable energy communities by extending the Theory of Planned Behaviour (TPB) with four motivational dimensions: environmental, economic, technical, and social. A quantitative cross-sectional survey of 174 household electricity users in Slovenia was analysed using Partial Least Squares Structural Equation Modelling (PLS-SEM). The findings show that environmental and economic motivations were positively associated with Attitudes, Technical Motivation was positively associated with Perceived Behavioural Control, and Social Motivation was positively associated with Subjective Norms. These TPB constructs are positively associated with behavioural readiness to participate in renewable energy communities. A supplementary exploratory multi-group analysis suggested possible differences between prosumers and conventional consumers. Prosumer status reflected individual household renewable electricity production and not verified REC membership, while Behavioural Readiness captured prospective stated intention and willingness rather than observed participation. However, because the prosumer subgroup comprised only 15 respondents, these group-specific patterns should be interpreted cautiously and require confirmation in larger and more balanced samples. The study extends the Theory of Planned Behaviour by integrating a multidimensional motivational framework and conceptualises participation in renewable energy communities as a socio-technical behavioural process. The findings provide empirically informed insights for policymakers, municipalities, and renewable energy community developers seeking to support citizens’ behavioural readiness to participate in renewable energy communities. Full article

As cities assume growing responsibility for climate mitigation, an important question is whether urban carbon markets can serve as effective instruments of decarbonisation. While emissions trading research has focused primarily on emissions outcomes, less attention has been paid to the institutional mechanisms underlying policy operation. This article addresses this gap through a qualitative case study of the Tokyo Cap-and-Trade System (TCTS), launched in 2010 as the world’s first mandatory city-level emissions trading scheme. Despite its official designation, the TCTS largely follows the logic of a baseline-and-credit system rather than a conventional allowance-based cap-and-trade programme. Drawing on government data, policy documents, academic studies, and interviews, the article examines how emissions trading was adapted to the metropolitan scale through policy mobility, institutional translation, and functional state rescaling. It argues that the TCTS combines carbon trading with bureaucratic oversight, monitoring and verification, technical guidance, and energy-efficiency regulation within an administratively embedded governance framework. Although substantial emissions reductions were recorded among regulated facilities, persistent surplus credits and limited trading reveal the limits of market mechanisms alone. The study shows how globally mobile climate policies are reconfigured through local institutions and metropolitan governance capacities, suggesting that successful urban decarbonisation depends as much on administrative capacity, institutional learning, and sustained regulatory engagement as on carbon pricing. Full article

The opportunities in green investment have propelled the green bond market at a time when climate change has emerged as a critical issue. As more investors express a preference for environmentally responsible investments, the popularity of green bonds remains high. Such considerations motivate the exploration of the relationship between these instruments and different assets to better appreciate their potential benefits. This paper examines the relationship between green bonds and various financial markets, including conventional bonds, equities, oil, and clean energy stocks, using daily return data from July 2014 to October 2024. Hence, the cross-quantilogram approach is employed to explore how Economic Policy Uncertainty (EPU) and Financial Market Uncertainty (VIX) influence these dependence structures. The empirical results suggest a strong correlation between green bonds and conventional bonds. Moreover, green bonds can serve as a diversification tool for investors in stock, oil, and clean energy markets. The uncertainty measures do not provide any information that could affect the dependence structures among these markets. Full article

This paper presents, to our knowledge, the first framework that jointly and provably optimizes communication and computation energy across an entire fleet of wirelessly connected mobile robots, rather than for a single device or under a fixed offloading policy as in prior work. Battery capacity limits the endurance of autonomous mobile robots, and on-board computation and radio communication increasingly rival locomotion in energy draw; across a fleet, the two are further coupled through shared uplink bandwidth and edge computing capacity. We formulate the joint selection of each robot’s task-offloading ratio, DVFS processor frequency, and transmit power, together with the fleet-wide allocation of bandwidth and edge capacity, subject to hard per-task deadlines. Closed-form inner solutions reduce each robot’s problem to a jointly convex program, coupled fleet-wide only through two linear resource constraints. We exploit this structure in JECCO-M, a distributed price-based algorithm that provably converges to the global fleet optimum while exchanging only a few scalars per iteration. A trajectory-conditioned channel-prediction extension handles robot mobility. Evaluated in simulations against optimization-based and learning-based baselines from the literature and on a physical three-robot testbed with embedded GPU compute, an IEEE 802.11ac uplink, and instrumented power rails, JECCO-M substantially reduces combined electronic energy while meeting all deadlines, and the measured hardware behavior tracks the analytical model closely. The results indicate that treating radio energy, processor energy, and shared edge resources as a single optimization domain is a practical route to extending the operating time of connected robot fleets. Full article

Energy efficiency (EE) is integral to a sustainable energy system and can play a significant role in climate mitigation by reducing energy consumption and the adverse effects of climate change. This paper examines the association between CO₂ emissions, EE, environmentally related taxes (ERTs), renewable energy (RE), and non-renewable energy consumption (EC) in Australia from 1990 to 2020. Using a dynamic ARDL model, the empirical findings show that adopting EE (β = −0.14, p = 0.000), ERT (β = −0.08, p = 0.071), and RE (β = −0.008, p = 0.007) is associated with lower carbon emissions, particularly in the short run. Conversely, EC impedes climate mitigation, as revealed by the substantial positive and significant coefficient of 1.4%. Notably, EE has the largest short-run coefficient among the mitigating variables, indicating that energy efficiency is the most significant mitigator of carbon emissions in Australia in the short run. The ARDL bounds test confirms the existence of a long-run equilibrium relationship among the variables. However, in the long run, EE, ERT, and RE do not mitigate carbon emissions, given their statistically insignificant coefficients, whereas EC remains strongly positively related to CO₂ emissions. Results from the FMOLS and DOLS estimates largely support the ARDL findings, though some sensitivity is observed for ERT. Consequently, this paper proposes a comprehensive policy direction for governments and international organizations, emphasizing the importance of reducing energy intensity and promoting EE as core climate mitigation instruments to foster a green, sustainable environment. Full article

Municipal solid waste (MSW) incineration with energy recovery is embedded in national decarbonization strategies but emits fossil CO₂ from plastic-derived combustion, challenging the long-term sustainability of waste-to-energy systems. Carbon capture and utilization (CCU) offers a potential mitigation route, yet assessments rarely link technology economics, environmental performance, and the carbon-pricing instruments that would finance deployment. This study develops a break-even carbon-pricing framework integrating life-cycle CO₂ emissions (LCCO₂) and discounted annualized life-cycle cost (LCC; capital-recovery-factor annualization at a 4% real discount rate) for two CCU routes—methanation and methanol synthesis—applied to a 300 t/day Japanese incineration facility (84,000 t/y) under 2024 and 2050 energy-system conditions, thereby quantifying the environmental and the economic dimensions of sustainable CCU deployment in the waste sector. Two complementary indicators are distinguished: an incremental break-even carbon price, the price at which adding CCU to the existing waste-to-energy facility becomes economically neutral, and a plant-level cash balance price. Under the product-system boundary and photovoltaic-electrolysis hydrogen, both routes show lower life-cycle emissions than the baseline in both years; the magnitude—and, for methanation in 2024, the sign—of the net climate benefit depends on the downstream-use accounting boundary. The incremental break-even price for methanol falls from 20.3 × 10⁴ JPY/t-CO₂ (≈1293 USD/t-CO₂) in 2024 to 1.90 × 10⁴ JPY/t-CO₂ (≈122 USD/t-CO₂) in 2050, while that for methanation falls from 32.2 × 10⁴ JPY/t-CO₂ to 0.75 × 10⁴ JPY/t-CO₂ (≈48 USD/t-CO₂)—about half the 2023 EU ETS average price—and approaches zero at approximately a one-third capital subsidy. This collapse is driven largely by the assumed hydrogen-price decline (100 → 20 JPY/Nm³); hydrogen-supply policy, rather than carbon pricing alone, therefore appears to be the dominant lever for making CCU at MSW incineration a viable contribution to sustainable, carbon-neutral waste management. Sensitivity analyses covering the discount rate (2–8%), plant scale (300–900 t/day), methane leakage, product-market absorption, and hydrogen delivered price premiums support the robustness of this sequencing conclusion. Full article

Maritime Spatial Planning (MSP) is increasingly recognized as the primary governance framework for integrating multiple and often competing maritime activities within shared marine space. This paper examines how the Multi-Use (MU) concept is incorporated into formally adopted MSP frameworks across six Mediterranean EU Member States, namely France, Spain, Italy, Cyprus, Slovenia, and Malta. Drawing on content analysis and document analysis of officially approved national plans, the study develops a multi-criteria analytical framework combining conceptual and spatial dimensions to assess MU integration systematically across national contexts. Mediterranean MSP systems are dominated by soft MU forms, particularly combinations involving tourism, fisheries, underwater cultural heritage, and environmental protection, while hard MU configurations involving offshore renewable energy, aquaculture, and shared infrastructure remain largely at the strategic or pilot stage. Four distinct pathways of MU integration are identified: operational, compatibility-based, strategic coexistence, and administrative coexistence. These pathways reflect different approaches to integrating MU within MSP systems, from explicit multi-use promotion to coexistence-oriented planning. They also indicate that the institutional adaptation of marine governance has not progressed as rapidly as technological developments, particularly in relation to emerging MU configurations. Effective MU integration depends less on formal policy recognition and more on the existence of planning instruments, zoning mechanisms, and cross-sectoral governance arrangements capable of translating strategic objectives into operational practice. Full article

Upper Silesia, historically shaped by hard-coal mining and coal-based energy production, is undergoing a critical phase of just transition under the European Union’s 2050 climate-neutrality objective. This study examines the legal, institutional, and spatial conditions shaping this process and assesses declared social acceptance in seven mining subregions of the Silesian Voivodeship comprising 64 municipalities. The research combines structured desk research on European Union, national, and regional policy and legal instruments with a CATI survey of electricity consumers in the transformation area (N = 602). Particular attention is given to regulatory barriers affecting the revitalization and redevelopment of post-mining and post-industrial land. The document analysis reveals fragmented institutional responsibilities, weak coordination between sectoral strategies, and insufficient integration of mine-closure, revitalization, and spatial-planning regulations. The survey findings indicate that public support for the energy transition is conditional rather than unconditional. Respondents generally acknowledge the need for change; however, they expect the principal financial burden to be borne by the state budget and energy companies, while direct household financing receives only marginal support. The results also show that the survey measured self-reported familiarity with the term “energy transition” rather than objectively tested knowledge. The study contributes an integrated analytical framework linking governance, legal-regulatory constraints, post-mining land regeneration, and declared social acceptance in a coal region undergoing structural transformation. Full article

Renewable energy communities are gaining importance as instruments for integrating decentralized renewable generation and enabling local flexibility provision. However, systematic comparisons of community performance under varying technical configurations and regulatory conditions remain scarce. This study combines a semi-structured literature review on system-level contributions of local energy systems with a quantitative techno-economic simulation of a reference urban energy community. The community—comprising eight apartment buildings equipped with rooftop photovoltaics, battery storage, electric vehicles, and heat pumps—was analyzed across 16 scenarios varying photovoltaic capacity, electric vehicle charging optimization, and energy-sharing incentives under four European regulatory frameworks (Germany, Austria, Spain, and Italy). Photovoltaic capacity emerges as the primary driver of energy autonomy, covering 16.3–30.8% of total community demand. Optimized electric vehicle charging significantly reduces grid dependency for vehicle loads (40.0–92.7%). Energy sharing contributes modestly to total consumption (0–3.4%) but substantially redistributes financial benefits among participants. Total community costs range from 23.6 k€ to 103.3 k€ across scenarios and countries, reflecting strong regulatory influence. The findings demonstrate that effective policy support requires coordinated design across sharing incentives, network tariffs, and flexibility pricing rather than isolated instrument deployment. Full article

The rapid expansion of electric mobility is reshaping both transport infrastructure and power-system operation. This narrative and critical review examines the connected evolution of new energy vehicle (NEV) markets, charging and battery-swapping infrastructure, policy mechanisms, and vehicle-to-grid (V2G) systems. In this paper, NEV includes battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel-cell electric vehicles (FCEVs); conventional non-plug-in hybrid electric vehicles are discussed only where regional statistics require clarification. Peer-reviewed studies, official statistics, policy documents, market reports, and technical standards available through June 2026 are synthesized thematically and compared across China, Europe, the United States, and selected emerging markets. The review distinguishes verified 2025 observations from scenario-based projections, evaluates policy instruments by their outcomes and limitations, and extends the V2G discussion to bidirectional charger requirements, interoperability, aggregation, DSO-TSO coordination, battery degradation, cybersecurity, and economic viability. Unlike reviews centered on a single technology or region, the proposed market–infrastructure–policy–V2G framework explains how market structure, infrastructure governance, standards, and electricity-market design jointly shape commercialization pathways. The synthesis indicates that infrastructure scale alone is insufficient: utilization, grid hosting capacity, interoperable communication, credible revenue stacking, and equitable access determine whether charging, battery swapping, and V2G can deliver system-level value. Full article

This paper investigates how restrictive monetary policy impacts long-term strategic infrastructure financing under conditions of geopolitical fragmentation and supply-side inflationary pressures. The analysis focuses on Poland, a medium-sized European economy exposed to energy transition requirements, post-pandemic supply chain disruptions, and regional geopolitical instability. Using quarterly data for 2005Q1–2024Q2, the study employs a Structural Vector Autoregression (SVAR) model to evaluate the transmission of monetary policy shocks to inflation dynamics and sectoral credit allocation. The research examines bank lending directed toward infrastructure-intensive sectors, including energy, utilities, transport, and strategic industrial investments. Empirical results demonstrate that while monetary tightening contributes to a statistically significant reduction in inflationary pressures over the medium term, it simultaneously triggers unintended consequences. Specifically, higher policy rates are associated with a persistent contraction in long-term infrastructure-related credit volumes. Impulse response analysis reveals that this decline in strategic infrastructure financing is disproportionately stronger and more enduring than the drop observed in aggregate corporate lending. These findings highlight asymmetric monetary transmission effects across investment categories. Consequently, the paper suggests implementing targeted macroprudential and liquidity-support instruments to protect strategic sectors without compromising inflation stabilization objectives. Full article