Search Results (188)

What motivates industrial companies to decarbonise? While climate policy has intensified, the specific factors driving corporate decisions remain underexplored. This article addresses that gap through a mixed-methods study combining qualitative insights from a leading automotive supplier with quantitative data from over 800 manufacturing companies in Germany. The study distinguishes between internal motivators—such as risk reduction, future-proofing, and competitive positioning—and external drivers like regulation, supply chain pressure, and investor expectations. Results show that internal economic logic is the strongest trigger: companies act more ambitiously when decarbonisation aligns with their strategic interests. Positive motivators outperform external drivers in both influence and impact on ambition levels. For instance, long-term cost risks were rated more relevant than reputational gains or regulatory compliance. The analysis also reveals how company size, energy intensity, and supply chain position shape motivation patterns. The findings suggest a new framing for climate policy: rather than relying solely on mandates, policies should strengthen intrinsic motivators. Aligning business interests with societal goals is not only possible—it is a pathway to more ambitious, resilient, and timely decarbonisation. By turning external pressure into internal logic, companies can move from compliance to leadership in the climate transition. Full article

As the relationship between cryptocurrency mining activities and electricity consumption becomes increasingly close, the risk spillover effect is steadily drawing a lot of attention to the energy and cryptocurrency markets. For the purpose of studying the risk contagion between the cryptocurrency and energy market, this paper constructs a risk contagion network between cryptocurrency and China’s energy market using complex network methods. The tail risk spillover effects under various time and frequency domains were captured by the spillover index, which was assessed by the leptokurtic quantile vector autoregression (QVAR) model. Considering the spatial heterogeneity of energy companies, the spatial Durbin model was used to explore the impact mechanism of risk spillovers. The research showed that the framework of this paper more accurately reflects the tail risk spillover effect between China’s energy market and cryptocurrency market under various shock scales, with the extreme state experiencing a much higher spillover effect than the normal state. Furthermore, this study found that the tail risk contagion between cryptocurrency and China’s energy market exhibits notable dynamic variation and cyclical features, and the long-term risk spillover effect is primarily responsible for the total spillover. At the same time, the study found that the company with the most significant spillover effect does not necessarily have the largest company size, and other factors, such as geographical location and business composition, need to be considered. Moreover, there are spatial spillover effects among listed energy companies, and the connectedness between cryptocurrency and the energy market network generates an obvious impact on risk spillover effects. The research conclusions have an important role in preventing cross-contagion of risks between cryptocurrency and the energy market. Full article

This paper empirically investigates the impact of energy transition on corporate performance by utilizing panel data from A-share listed companies in Shanghai and Shenzhen between 2008 and 2022. Employing a fixed-effects model, the analysis incorporates key mediating variables including financing constraints, research and development (R&D) investment, corporate reputation, and investor attention. The results demonstrate that the energy transition exerts a significantly positive effect on firm performance, primarily through alleviating financing constraints and stimulating R&D activities. These effects are notably stronger among firms with higher market responsiveness and in regions exhibiting greater levels of economic development—particularly small- and medium-sized enterprises (SMEs), non-state-owned firms, enterprises located in eastern China, and those operating in high-carbon-emitting industries. Furthermore, enhanced corporate reputation and heightened investor attention serve as important amplifiers, reinforcing the positive relationship between energy transition and firm performance. This suggests the existence of a virtuous cycle wherein “transition investment” facilitates “resource integration,” ultimately leading to superior “performance outcomes.” The findings highlight the strategic value of aligning energy transition efforts with firm-level capabilities, indicating that sustainable investments can serve as a pathway to both environmental and economic gains through enhanced competitiveness and stakeholder engagement. Full article

The purpose of this research is to investigate the possibilities of electricity consumption-associated cost reduction in buildings owned by a medium-sized logistics company in Latvia (A_LV), which is a part of the larger international business ecosystem (A). The company is not using all of its facilities for its own business needs, some of them are rented out, and therefore the possibility of impacting electricity consumption in rented out buildings is limited. During the research, mixed-type approaches combining qualitative and quantitative research methods and data analysis were employed, where the quantitative methods helped to analyze the company’s electricity consumption and cost changes in different time periods, while the qualitative methods were used in a literature review. As primary data sources, A_LV’s internal electricity consumption reports and invoices for electricity payments were used, along with publicly available data on electricity consumption in Latvia and wholesale market price fluctuations. Although A_LV has numerous areas of electricity consumption optimization, this research is limited to few of them—lighting system optimization, energy management and automation applications, forklift charging regime adjustments, and choice of electricity retailer and tariff plan. Full article

This article addresses a topic of critical importance globally, particularly in the context of the ongoing energy crisis, climate change, and efforts to transition towards sustainable energy systems. A growing environmental awareness among consumers, along with changing regulations on energy efficiency, forces companies to adapt their products and services to meet new market demands. Eco-innovations, such as energy-efficient technologies and environmentally friendly materials, can respond to the increasing demand for products with a lower carbon footprint and reduced energy consumption. Using structural equation modelling, our study aimed to evaluate the significance of selected determinants of enterprise activities aimed at innovations that yield environmental benefits. The analysis focused on the scale of the benefits obtained due to these innovations (e.g., reduced material or water use per unit of output, reduced energy use, reduced CO₂ footprint, reduction in pollution, or recycling of waste) and during the consumption or use of goods or services by the end user (e.g., energy savings, facilitated recycling, or extended product life). The empirical data source was a database of anonymised individual data from Statistics Poland. The database comprised 8544 industrial enterprises employing 10 or more people, of which 2714 introduced eco-innovations. To verify the hypothetical relationships between variables, we proposed a structural equation modelling method. The structural model estimates indicated that requirements arising from current and future regulations, pressure from high operational costs and administrative formalities, and reputation and incentives had a positive and statistically significant impact on the scale of benefits obtained due to these eco-innovations. The assessment of the importance of factors determining the introduction of eco-innovations differed slightly between companies of different sizes. For large enterprises, the key determinants were incentives, reputation, and law requirements. For medium-sized enterprises, incentives and reputation were the most influential. For small enterprises, reputation was the primary determinant, followed closely by pressure and incentives at a similar level. Full article

The energy market in the European Union is dominated by large energy companies. However, the liberalization of this market, the removal of market barriers, and the encouragement of small companies to enter the market are creating new conditions and changing the structure of companies. In addition to large energy companies, a significant number of small entities are also emerging. The aim of this research is to analyze the relationship between the size of energy companies and their technical efficiency. This analysis was carried out for the period 2019–2023. In order to assess the efficiency of the researched energy companies, the Data Envelopment Analysis (DEA) method was employed. The analyzed enterprises were divided into three groups: small (IA), medium (IB), and large (II). The following economic categories were adopted as the division criteria: 1. net sales revenue; 2. operating costs; 3. fixed assets. The findings of our study suggest that small and medium-sized energy companies can exhibit levels of efficiency that are comparable to those of larger enterprises. This result suggests that companies of different sizes can coexist in the energy market. The results obtained are not completely conclusive, as statistically significant differences in technical efficiency (TE) were recorded in 2021 and 2022 but only between small enterprises (IA) and medium-sized enterprises (IB). This study highlights the potential of small energy companies to contribute effectively to Poland’s energy sector and suggests that supporting their development could enhance energy security and market competition. However, many energy companies—regardless of size—exhibited low levels of efficiency, underlining the need for deeper investigation into the sources of inefficiency. Full article

Since the 1990s, Polish energy companies have been using new technologies to build wind farms, consisting of large devices. Over the years, the power and the size of installations have increased, and it continues to do so. In Poland, as well as in other countries, a problem with the post-use management of wind turbine blades has appeared. The recycling of wind turbine blades has remained challenging hitherto. The utilization of many different materials and changes in the dimensions cause multi-material waste. Since there are no economically viable recycling technologies available for such large-scale composite products, other treatment strategies for disposed WTBs have to be considered. This study explores the repurposing of WTBs as a pro-environmental alternative approach from a technological and architectural point of view. For this purpose, the study is guided by an analysis of wind turbine locations in reference to the impending need for waste management of wind blades in Poland. Well-profiled blades help transfer a large portion of wind energy to turbine rotors, which is why their construction is a challenge when it comes to designing new objects or elements thereof from decommissioned blades. They have a continuous curvature, where both the cross-section and thickness change, which is why, in the design of architectural or engineering objects, they are cut into smaller parts. This solution makes it possible to optimize the load-bearing properties of individual segments, ensuring a more stable system. Smaller elements also provide greater freedom in shaping architectural forms, which is associated with better control of the final effect from the aesthetic side. The potential of repurposing WTBs is shown, for example, in the design concept for the Archery Centre in Poznan (Poland). Full article

To achieve carbon neutrality by 2050, the realization of Net-Zero-Energy Buildings (ZEBs) and the proper design of heat source equipment capacity are essential. Consequently, numerous studies have been conducted to prevent overdesign. However, most previous studies have analyzed the factors influencing heat source equipment capacity as independent and isolated variables. In actual design practice, however, factors interact in complex and interdependent ways, yet few studies have considered the interrelationships among these factors or conducted a structural and comprehensive analysis of their influence on heat source equipment capacity. Therefore, this study aims to quantitatively model the influence structure between design factors and heat source equipment capacity using Structural Equation Modeling (SEM), focusing on office buildings with a central heat source system in warm regions of Japan. This research offers a novel perspective not found in previous studies by structurally and comprehensively analyzing the relationship between design factors and heat source equipment capacity, examining the interactions between the factors and their impact on equipment capacity in stages. As a result, by modeling the influence structure, it was confirmed that the diversity factor, handling of internal heat gain, and appropriate design based on actual building usage, such as internal heat gain and the safety factor, are effective for optimizing heat source equipment capacity. Moreover, the result also confirmed that industry, company size, building scale, building use, and software influence the above design factors. This study is a case study that focuses on the maximum heat load calculation in mechanical equipment design and attempts to model the influence of design factors and heat source equipment capacity. However, it is expected that future studies using the same methodology as this study and incorporating additional factors not discussed in this study, and expanding across various regions, will provide a valuable and effective approach to optimizing heat source equipment capacity. Full article

Electric vehicles can serve as controllable loads, storing energy during off-peak periods and acting as generation units during peak periods or periods with high electricity prices. They function as distributed generation resources within distribution systems, requiring controlled charging and discharging of batteries. In this paper, we address the problem of the optimal allocation of parking lots within a distribution system to efficiently supply electric vehicle loads. The goal is to determine the best capacity and size of parking lots to meet peak hour demands while considering constraints on the permanent operation of the distribution system. Using the particle swarm optimization (PSO) algorithm, the study maximizes total benefits, taking into account network parameters, vehicle data, and market prices. Results show that installing parking lots could be economically profitable for distribution companies and could improve voltage profiles. Full article

Sustainable development is a key concept that has been formulated over many years and is currently transforming our world. Decisions made in its spirit are influencing the economic and legal order and the daily lives of people in Europe and around the world. In Poland, achieving sustainable development requires a number of difficult decisions, and one of them is to transform the energy system toward low carbon. Poland’s energy transition is not an easy task in a country where, for many years, the dominant energy resource in terms of availability, resources and price has been coal. In view of such conditions, the Polish energy system has been based on coal, which in Polish conditions is still of strategic importance in meeting energy needs. For this reason, Poland’s planned move away from coal raises many controversies and concerns, especially in areas where mines operate. At the same time, it should be remembered that the mining industry, in addition to mining companies, brings together a large group of mining-related companies working for the benefit of mining. Due to the fact that it is in the territory of the Upper Silesian Coal Basin that about 80% of the documented balance resources of Polish hard coal are located, it was justified to conduct a survey among the residents of the Silesian Province as the group most likely to be affected by this decision. The aim of the survey was to find out the target group’s opinion on Poland’s transition away from coal. In turn, the main research problem was an attempt to answer the question of what percentage of households in the Silesian Province are opposed to Poland’s transition away from coal and what are the most significant factors influencing their opinion. Hence, this study presents the results of an empirical survey conducted among a randomly selected group of residents of the Silesian Province. The size of the research sample was 385 people. The study took into account factors such as age, place of residence, income, the square footage of the dwelling and the method of heating it, as well as respondents’ professional affiliation with the mining, mining-related, gas or energy industry. The results of the survey and analyses show that the vast majority of Upper Silesian residents are against the departure from coal, which is being planned in Poland’s energy transition. In addition, the most significant factors influencing respondents’ opinion on Poland’s move away from coal were identified and evaluated, revealing two social groups with differing views: one group opposes the move away from coal, prioritizing energy independence, energy security, energy prices and jobs over environmental issues; the other group advocates for the transition mainly for environmental reasons. Full article

At present, shipping companies are aiming to meet better energy and environmental requirements when designing large cruise ships, thus decreasing emissions, increasing efficiency and reliability and greatly reducing maintenance time and costs. This paper provides a technical–economic comparison for a real case study, including a complete feasibility study regarding the sizing of a generation system to supply base hotel loads, between two power plant architectures focused on fuel cells and diesel generators for a cruise ship. The paper describes, in detail, an innovative solid oxide fuel cell (SOFC) generation system, which offers high efficiency and low emissions, assessed for its technical, economic and environmental performance. This study examines generators for hotels, requiring continuous service at constant load and a 1 MW power supply. The work relates to ships with a tonnage of more than 100,000 tons. Subsequently, considering that, in the case study, the diesel generators are powered by LNG (liquefied natural gas), there will also be a comparison with a case where both systems are simply powered by LNG. The main technical specifications required by shipbuilders for choosing the most suitable system for on-board generation (weight, volume, maintenance intervals and operations, as well as investment and operational expenses) are analyzed and described. The economic comparison is based on two extreme assumptions of the purchase and operating costs of the fuel cell system and returns a different result depending on the assumption adopted. The usefulness of the proposed solution based on fuel cells is demonstrated on the basis of an accurate technical, energetic and economic comparison with the conventional technologies based on diesel generators. The work is completed by evaluating the overall power-generating reliability improvement achievable with the new technology, in comparison with the traditional system. The comparison between the fuel cell system and the diesel system shows that the former has a higher weight (+40%), volume (+75%) and initial investment cost (3–6 times higher). However, the lower LNG consumption reduces the annual operating cost and the size and weight of the on-board tanks or, with the same tank capacity, increases the system’s range. The overall reliability of the fuel cell system is significantly higher than that of the traditional system. Full article

Market liberalization and the growth of renewable energy sources have enabled the rise of generation companies (GENCOs) managing diverse generation portfolios, creating a dynamic market environment that necessitates innovative energy management strategies to enhance operational efficiency and economic viability. Investing in the energy storage system (ESS), which, in addition to participating in the energy and ancillary services markets and in joint operations with other GENCO facilities, can mitigate the fluctuation level from renewables and increase profits. Besides the optimal operation and bidding strategy, determining the optimal size of the ESS aligned with the GENCO’s requirements is significant for its market success. The purpose of the ESS impacts both the sizing criteria and the sizing techniques. The proposed sizing method of ESS for a GENCO daily operation mode is based on the developed optimization operation model of GENCO with utility-scale energy storage and a cost-benefit analysis. A GENCO operates in a market-oriented power system with possible penalties for undelivered energy. The proposed method considers various stochastic phenomena; therefore, the optimization calculations analyze the GENCO operation over a long period to involve multiple potential combinations of uncertainties. Numerical results validate the competencies of the presented optimization model despite many unpredictable parameters. The results showed that both the battery storage system and the pumped storage hydropower plant yield a higher net income for a specific GENCO with a mixed portfolio, regardless of the penalty clause. Considering the investment costs, the optimal sizes for both types of ESS were obtained. Full article

This paper presents a new approach to optimize the clustering of industrial users and to determine the appropriate size of photovoltaic (PV) systems in renewable energy communities (RECs). By combining data including each company’s energy consumption profiles based on its ATECO classification, existing and installable PV capacity, electricity purchase and sale costs, REC incentives, and PV installation costs, the proposed algorithm identifies the optimal clustering of industrial users to form an economically efficient REC. Additionally, the optimal PV capacity for each member is evaluated, taking into account potential constraints of the available area. As a whole, the proposed algorithm can determine which cluster of companies maximizes the REC net present value ($NPV$) without compromising the payback time ($PBT$), providing a strategic framework and aid for improving the economic performance of industrial RECs, correctly sizing the community and ensuring that PV installation and investment yields the greatest possible financial and social benefits. From the analysis of the considered case studies, it appears that the proposed clustering and sizing method allows, for the REC as a whole, for an increase in the NPV from a minimum of about 25% with no change in $PBT$, up to about 75% in the case of a change in $PBT$ of up to 5 years. Full article

The Betz constant is the well-known aerodynamic limit of the maximum power which can be extracted from wind using wind turbine technologies, under the assumption that the wind speed is uniform across a blade disk. However, this condition may not hold for large wind turbines, since the wind speed may not be constant along their height; rather, it may vary with the location due to surface friction from tall buildings and trees, the topography of the Earth’s surface, and radiative heating and cooling in a 24 h cycle. This paper derives a new power coefficient for large wind turbines based on the power law exponent model of the wind gradient and height. The proposed power coefficient is a function of the size of the rotor disk and the Hellmann exponent, which describes the wind gradient based on wind stability at various locations, and it approaches the same value as the Betz limit for wind turbines with small rotor disks. It is shown that for large offshore wind turbines, the power coefficient was about 1.27% smaller than that predicted by the Betz limit, whereas for onshore turbines in human-inhabited areas with stable air, the power coefficient was about 8.7% larger. Our results are significant in two ways. First, we achieve generalization of the well-known Betz limit through elimination of the assumption of a constant wind speed across the blade disk, which does not hold for large wind turbines. Second, since the power coefficient depends on the location and air stability, this study offers guidelines for wind power companies regarding site selection for the installation of new wind turbines, potentially achieving greater energy efficiency than that predicted by the Betz limit. Full article

This study investigates how CEO characteristics, board composition, and firm size influence the technical efficiency (TE) of energy firms. We aim to understand how these factors contribute to production inefficiencies, which may help explain fluctuations in oil prices. Using stochastic frontier analysis (SFA), we analyze data from 100 American energy firms over the period from 2006 to 2019. Our results show that inefficiencies in production are primarily driven by specific CEO traits, the size and structure of the board, and the overall size of the firm. Based on the findings of this study, we recommend focusing on the selection of executive managers with specific qualifications, particularly those with extensive experience in managing oil and gas companies. Leadership positions should prioritize seasoned managers with accumulated expertise in this sector, and preference should be given to candidates with advanced educational backgrounds. Encouraging CEOs to acquire equity stakes in the company can significantly boost the technical efficiency of oil and gas firms. Additionally, offering competitive salaries and performance-based bonuses may further enhance managerial effectiveness and drive technical improvements. In addition, expanding the size of boards of directors in oil and gas companies is also anticipated to positively influence their technical efficiency. Finally, pursuing mergers and acquisitions to grow the scale of oil and gas companies represents a strategic approach to improving operational efficiency while contributing to the stability of global energy prices. Full article