Search Results (602)

Urban areas are responsible for most of Europe’s energy demand and emissions and urgently require building retrofits to meet climate neutrality goals. This study evaluates the energy efficiency potential of three public school buildings in western Macedonia, Greece—a cold-climate region with high heating needs. The buildings, constructed between 1986 and 2003, exhibited poor insulation, outdated electromechanical systems, and inefficient lighting, resulting in high oil consumption and low energy ratings. A robust methodology is applied, combining detailed on-site energy audits, thermophysical diagnostics based on U-value calculations, and a techno-economic assessment utilizing Net Present Value (NPV), Internal Rate of Return (IRR), and SWOT analysis. The study evaluates a series of retrofit measures, including ceiling insulation, high-efficiency lighting replacements, and boiler modernization, against both technical performance criteria and financial viability. Results indicate that ceiling insulation and lighting system upgrades yield positive economic returns, while wall and floor insulation measures remain financially unattractive without external subsidies. The findings are further validated through sensitivity analysis and policy scenario modeling, revealing how targeted investments, especially when supported by public funding schemes, can maximize energy savings and emissions reductions. The study concludes that selective implementation of cost-effective measures, supported by public grants, can achieve energy targets, improve indoor environments, and serve as a replicable model of targeted retrofits across the region, though reliance on external funding and high upfront costs pose challenges. Full article

This study explores the complex interaction between the Internet of Things (IoT) and the new energy sector and analyzes how their integration can catalyze a transition toward a sustainable low-carbon economy. Through the full-sample and rolling sub-sample methods, we empirically examine the dynamic interrelationship between China’s IoT index (IoT) and the New Energy Index (NEI). Quantitative analysis reveals significant time-varying characteristics and bidirectional causal complexity in the interaction between the IoT and new energy. The IoT has a dual-edged impact on the development of new sources of energy. In the long run, the IoT plays a dominant role in incentivizing new energy, helping to enhance its stability and economic value. However, during stages characterized by technological bottlenecks or resource competition, the high energy consumption of IoT infrastructure may suppress the investment returns of new energy. Simultaneously, new energy has both positive and negative impacts on the IoT. On the one hand, new energy provides low-cost, sustainable power to support the IoT, driving the construction of the IoT ecosystem. On the other hand, it may threaten the continuity of IoT power supply, and the complexity of standardization and regulation in the sector may constrain the development of the IoT. This study provides a fresh perspective on promoting the integration of digital technology and green energy, uncovering nonlinear trade-offs between innovation-driven growth and carbon reduction goals, and offering policy insights for cross-sectoral collaboration to achieve sustainability. Full article

Agrivoltaic (Agri-PV) systems face the critical challenge of balancing photovoltaic energy generation with crop productivity, yet systematic approaches to quantifying the trade-offs between these objectives remain scarce. In this study, we identify nine essential design indicators: panel tilt angle, elevation, photovoltaic coverage ratio, shading factor, land equivalent ratio, photosynthetically active radiation (PAR) utilization, crop yield stability index, water use efficiency, and return on investment. We introduce a novel dual matrix Analytic Hierarchy Process (AHP) to evaluate their relative significance. An international panel of eighteen Agri-PV experts, encompassing academia, industry, and policy, provided pairwise comparisons of these indicators under two objectives: maximizing annual energy yield and sustaining crop output. The high consistency observed in expert responses allowed for the derivation of normalized weight vectors, which form the basis of two Weighted Influence Matrices. Analysis of Total Weighted Influence scores from these matrices reveal distinct priority sets: panel tilt, coverage ratio, and elevation are most influential for energy optimization, while PAR utilization, yield stability, and elevation are prioritized for crop productivity. This methodology translates qualitative expert knowledge into quantitative, actionable guidance, clearly delineating both synergies, such as the mutual benefit of increased elevation for energy and crop outcomes, and trade-offs, exemplified by the negative impact of high photovoltaic coverage on crop yield despite gains in energy output. By offering a transparent, expert-driven decision-support tool, this framework enables practitioners to customize Agri-PV system configurations according to local climatic, agronomic, and economic contexts. Ultimately, this approach advances the optimization of the food energy nexus and supports integrated sustainability outcomes in Agri-PV deployment. Full article

Hydrogen is increasingly recognized as a key element of the transition to a low-carbon energy system, leading to a growing interest in accurate and sustainable assessment of its economic viability. Levelized Cost of Hydrogen (LCOH) is one of the most widely used metrics for comparing hydrogen production technologies and informing investment decisions. However, traditional LCOH calculation methods apply a single discount rate to all cash flows without distinguishing between the risks associated with outflows and inflows. This approach may yield a systematic overestimation of costs, especially in capital-intensive projects. In this study, we adapt a binary cash flow discounting model, previously proposed in the finance literature, for hydrogen energy systems. The model employs two distinct discount rates, one for costs and one for revenues, with a rate structure based on the required return and the risk-free rate, thereby ensuring that arbitrage conditions are not present. Our approach allows the range of possible LCOH values to be determined, eliminating the methodological errors inherent in traditional formulas. A numerical analysis is performed to assess the impact of a change in the general rate of return on the final LCOH value. The method is tested on five typical hydrogen production technologies with fixed productivity and cost parameters. The results show that the traditional approach consistently overestimates costs, whereas the binary model provides a more balanced and risk-adjusted representation of costs, particularly for projects with high capital expenditures. These findings may be useful for investors, policymakers, and researchers developing tools to support and evaluate hydrogen energy projects. Full article

This study analyzes the feasibility of energy mixes composed of different shares of various types of power generation units, including photovoltaic (PV) and wind farms, hydropower, fossil fuel-based plants, and nuclear power. The analysis uses the concept of Energy Return on Investment (EROI), which is considered the most reliable indicator for comparing different technologies as it measures the energy required rather than monetary costs needed to build and operate each technology. Literature-based EROI values for individual generation technologies were used, along with the minimum EROI thresholds for the entire energy mix that are necessary to sustain developed societies and a high quality of life. The results show that, depending on the assumed minimum EROI value, which ranges from 10 to 30, the maximum share of intermittent renewable energy sources (IRESs), such as PV and wind farms, in the system cannot exceed 90% or 60%, respectively. It is important to emphasize that this EROI-based analysis does not account for power grid stability, which currently can only be maintained by the inertia of large synchronous generators. Therefore, the scenario with a 90% IRES share should be regarded as purely theoretical. Full article

This paper analyzes annual energy production data in Kosovo and explores the potential benefits of introducing natural gas as an energy source. The study compares current coal-based energy production with natural gas in terms of not only financial impact but also environmental pollution and public health. The focus is on evaluating financial sustainability by assessing production costs and consumption effects, particularly the potential for expense reduction through natural gas adoption. A financial module analysis was applied, comparing energy prices from coal and natural gas sources. Special emphasis was placed on household economic benefits, return on investment, and reduced energy costs. With the integration of natural gas, household energy expenses could decrease from €0.12 to €0.10 per unit, resulting in estimated national savings of approximately €60 million per year. The investment evaluation was conducted using methodologies grounded in relevant case studies and price differentials in the energy market. Full article

The growing global demand for sustainable energy solutions has spurred interest in hybrid renewable energy systems, particularly those combining photovoltaic (PV) solar and wind power. This study records the technical and financial feasibility of establishing hybrid solar photovoltaic and wind power stations in Iraq, Al-Rutbah and Al-Nasiriya, with a total power of 60 MW for each, focusing on optimizing energy output and cost-efficiency. The analysis evaluates key technical factors, such as resource availability, system design, and integration challenges, alongside financial considerations, including capital costs, operational expenses, and return on investment (ROI). Using the RETScreen program, the research explores potential locations and configurations for maximizing energy production and minimizing costs, and the evaluation is performed through the calculation Internal Rate of Return (IRR) on equity (%), the Simple Payback (year), the Net Present Value (NPV), and the Annual Life Cycle Savings (ALCSs). The results show that both PV and wind technologies demonstrate significant energy export potential, with PV plants exporting slightly more electricity than their wind counterparts. Al Nasiriya Wind had the highest output, indicating favorable wind conditions or better system performance at that site. The results show that the analysis of the proposed hybrid system has a standardizing effect on emissions, reducing variability and environmental impact regardless of location. The results demonstrate that solar PV is significantly more financially favorable in terms of capital recovery time at both sites, and that financial incentives, especially grants, are essential to improve project attractiveness, particularly for wind power. The analysis underscores the superior financial viability of solar PV projects in both regions. It highlights the critical role of financial support, particularly capital grants, in turning renewable energy investments into economically attractive opportunities. Full article

The global crude oil market, known for its pronounced volatility and nonlinear dynamics, plays a pivotal role in shaping economic stability and informing investment strategies. Contrary to traditional research focused on price forecasting, this study emphasizes the more investor-centric task of predicting returns for West Texas Intermediate (WTI) crude oil. By spotlighting returns, it directly addresses critical investor concerns such as asset allocation and risk management. This study applies advanced machine learning models, including XGBoost, random forest, and neural networks to predict crude oil return, and for the first time, incorporates sustainability and external risk variables, which are shown to enhance predictive performance in capturing the non-stationarity and complexity of financial time-series data. To enhance predictive accuracy, we integrate 55 variables across five dimensions: macroeconomic indicators, financial and futures markets, energy markets, momentum factors, and sustainability and external risk. Among these, the rate of change stands out as the most influential predictor. Notably, XGBoost demonstrates a superior performance, surpassing competing models with an impressive 76% accuracy in direction forecasting. The analysis highlights how the significance of various predictors shifted during the COVID-19 pandemic. This underscores the dynamic and adaptive character of crude oil markets under substantial external disruptions. In addition, by incorporating sustainability factors, the study provides deeper insights into the drivers of market behavior, supporting more informed portfolio adjustments, risk management strategies, and policy development aimed at fostering resilience and advancing sustainable energy transitions. Full article

The industrial sector dominates global energy usage, accounting for approximately 50% of total energy demand, with process heat representing two-thirds of this consumption. Although renewable energy technologies have become increasingly cost-competitive, industrial users have been hesitant to replace fossil fuels to meet heat generation requirements. This study presents a practical framework for industrial energy transition, proposing a phased approach toward sustainable manufacturing practices, processes, and energy technologies. The framework emphasises that while energy efficiency measures form the foundation, strategic technological investment priorities should target the replacement of fossil fuels with sustainable and renewable energy technologies. The formulation of the three-phased energy technology advancement framework is informed by techno-economic analyses across a range of technical interventions available to plant operators, namely beverage manufacturers. For South African conditions, cost–benefit analyses suggest that the industry will prioritise investments in photovoltaic and battery energy storage systems, driven by attractive returns on investment, which are expected to improve. However, sustainability plans and efforts must extend beyond immediate financial returns, particularly in terms of future space requirements and capital allocation. This more holistic approach will ensure long-term sustainability while meeting increasingly stringent environmental commitments. Full article

While digital transformation in e-commerce receives the most publicity, applications in energy and water utilities have been ongoing for decades. Using a methodology based on a systematic review, the paper offers a model of how it occurs in water utilities, reviews experiences from the field, and derives lessons learned to create a road map for future research and implementation. Innovation in water utilities occurs more in the field than through organized research, and utilities share their experiences globally through networks such as water associations, focus groups, and media outlets. Their digital transformation journeys are evident in business practices, operations, and asset management, including methods like decision support systems, SCADA systems, digital twins, and process optimization. Meanwhile, they operate traditional regulated services while being challenged by issues like aging infrastructure and workforce capacity. They operate complex and expensive distribution systems that require grafting of new controls onto older systems with vulnerable components. Digital transformation in utilities is driven by return on investment and regulatory and workforce constraints and leads to cautious adoption of innovative methods unless required by external pressures. Utility adoption occurs gradually as digital tools help utilities to leverage system data for maintenance management, system renewal, and water loss control. Digital twins offer the advantages of enterprise data, decision support, and simulation models and can support distribution system optimization by integrating advanced metering infrastructure devices and water loss control through more granular pressure control. Models to anticipate water main breaks can also be included. With such advances, concerns about cyber security will grow. The lessons learned from the review indicate that research and development for new digital tools will continue, but utility adoption will continue to evolve slowly, even as many utilities globally are too stressed with difficult issues to adopt them. Rather than rely on government and academics for research support, utilities will need help from their support community of regulators, consultants, vendors, and all researchers to navigate the pathways that lie ahead. Full article

This study conducts a techno-economic evaluation of an all-electric energy station in China. It assesses the system’s feasibility and sustainability. The all-electric energy station integrates multiple components: chillers, air-source heat pumps, electric boilers, water thermal storage, and gas boilers. These components work together to deliver comprehensive cooling and heating services. The research compares this system with an integrated electricity-gas system. It analyzes performance across three key areas: economic benefits, environmental impact, and energy utilization efficiency. The results show significant advantages for the all-electric energy station. Economic analysis reveals that the net present value (NPV) of the all-electric energy station is positive, the internal rate of return (IRR) is high, and the payback period is significantly shorter compared to traditional systems. Sensitivity analysis highlights that the discount rate and initial investment are the most influential factors affecting NPV, while cooling prices present substantial revenue optimization potential. The all-electric configuration exhibits greater sensitivity to parameter variations, underscoring the importance of strategic risk management. Additionally, the all-electric energy station excels in environmental protection. Carbon emissions are reduced by 11.5% compared to conventional systems. As renewable energy increases in the grid, indirect carbon emissions will decrease further. The all-electric energy station demonstrates strong economic feasibility. It plays a crucial role in achieving carbon neutrality and promoting green energy development. This study provides valuable insights for future regional integrated energy systems. Full article

This study evaluates the cost-effectiveness and environmental benefits of two residential photovoltaic (PV) on-grid systems in Poland: a 4.35 kWp system (V1) and a 5.70 kWp system (V2). With growing interest in prosumer energy and climate goals, assessing small-scale PV systems is critical for sustainable energy planning. Economic performance was analyzed using net present value (NPV), internal rate of return (IRR), and discounted payback period (DPP). Sensitivity analyses identified key factors affecting investment outcomes. V2 demonstrated superior performance, with an NPV five times higher than that of V1 and annual savings of EUR 1392 compared to EUR 270. V2 also achieved a 15.66% IRR and 7.7-year DPP, outperforming V1′s 5.85% IRR and 17.3-year DPP. CO₂ emission reductions were 2.6 and 3.6 Mg/year for V1 and V2, respectively. The findings emphasize the importance of tailored financial incentives and regulatory reforms to support prosumers and optimize grid integration in Poland. Full article

Audit committees monitor the actions of managers as they pursue the goal of shareholder wealth maximization. The purpose of this study is to measure the impact of audit committee oversight on novel aspects of firm performance, including investor rationality, price expectations, human capital, and research and development expenses. It extends the literature to non-financial outcomes of audit committee oversight. The literature thus far has focused on the financial effects of audit committee oversight, such as return on assets, return on equity, risk, debt capacity, and firm value. Data was collected from 588 publicly traded firms in the U.S. pharmaceutical industry and energy industry from 2010 to 2022. Audit oversight was measured by the novel measurement of the frequency of the term ‘audit committee’ in annual reports and Form 10Ks from the SeekEdgar database. COMPUSTAT provided the remainder of the data. Panel Data fixed-effects models were used to analyze the data. Audit committee oversight significantly increased investor rationality, significantly reduced price expectations, and significantly increased human capital investment. An inverted U-shaped relationship occurred for audit committee oversight and research and development expenses, with audit oversight first increasing research and development expenses, then decreasing them. The study makes several contributions. First, the study uses a novel measure of audit oversight. Second, the study predicts the effect of audit committee oversight on unexplored non-financial measures, such as human capital and research and development expense. Third, the study offers a current test of the Miller model, as the last tests were performed over 20 years ago. Fourth, the study examines the impact of auditing on market measures that have not been explored in the literature, such as investor rationality and short selling. Full article

This paper examines the costs associated with installing PIP (Pile-in-Pile) slip joints compared to traditional tubular joints, focusing on investment, installation processes, and long-term benefits. Previous studies have indicated that the structural performance of PIP slip joints is superior to that of traditional joints. By utilizing the frictional interfaces between conventional structural steel components and the simplest installation methods, PIP slip joints maximize structural integrity and ease of maintenance. As a result, they can lead to lower lifecycle costs, provided they are installed correctly. Quantitatively, the PIP slip joint achieved the highest internal rate of return (IRR) at 43.42%, the lowest Levelized Cost of Energy (LCOE) at 0.013589 EUR/kWh, and the shortest payback period at 2.92 years—outperforming grouted and bolted flange joints across all key financial metrics. The analysis also addresses logistical challenges and workforce requirements, highlighting that significant economic benefits can be realized when implemented appropriately. Furthermore, the PIP slip joint promotes sustainability goals by minimizing material usage, which ultimately leads to reduced carbon emissions through more efficient fabrication and installation, as well as enabling faster deployment. A comprehensive financial assessment of these joint systems in offshore wind monopiles reveals that PIP slip joints are the most cost-effective and financially advantageous option, outperforming key metrics like IRR, LCOE, and payback period due to lower initial investments and operational costs. As PIP slip joints yield a higher net present value (NPV), a shorter payback period, and a lower LCOE, they can enhance profitability and reduce financial risk, and are suitable for streamlined implementation. While grouted and bolted flange joints exhibit similar financial performance, PIP slip joints’ minimal expenditure and consistent superiority make them the optimal choice for sustainable and economically viable offshore wind projects. Full article

This study investigates factors influencing net-zero building (NZB) adoption in the South African commercial property sector through a qualitative analysis of four case studies, with a net-zero carbon building focus. Findings indicate that while green building certifications have exceeded 1000 since 2009, NZB adoption remains limited (64 certifications as of 2024). Key barriers include retrofit cost premiums (20–30%), technical capacity gaps, and insufficient policy frameworks. Primary drivers comprise demonstrated energy efficiency gains (15–25% reductions), tenant demand for sustainable properties, and institutional support through certification programs. This research contributes an empirical model identifying transitional “Amber Zone” factors, including energy security concerns and renewable energy returns on investment, which mediate between barriers and drivers. Case evidence shows NZB implementation can be achieved within existing budgets through integrated design approaches. These findings provide a structured framework for understanding NZB adoption dynamics in emerging markets facing similar energy and sustainability challenges. Full article