Economic Model and Risk Analysis of Energy Investments Based on Cogeneration Systems and Renewable Energy Sources

Today, distributed energy production is a key activity supporting energy systems in many countries around the world. Applicable regulations, fees and subsidies encourage entrepreneurs to look for solutions that will reduce operating costs and limit their negative impact on the natural environment. I...

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Autores principales:	Michał Gołębiewski, Marta Galant-Gołębiewska
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	CHP system PV system sensitivity analyses risk evaluation Technology T
Acceso en línea:	https://doaj.org/article/28f4d1b907ab4583872aa41f743a64ef
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spelling	oai:doaj.org-article:28f4d1b907ab4583872aa41f743a64ef2021-11-25T17:26:24ZEconomic Model and Risk Analysis of Energy Investments Based on Cogeneration Systems and Renewable Energy Sources10.3390/en142275381996-1073https://doaj.org/article/28f4d1b907ab4583872aa41f743a64ef2021-11-01T00:00:00Zhttps://www.mdpi.com/1996-1073/14/22/7538https://doaj.org/toc/1996-1073Today, distributed energy production is a key activity supporting energy systems in many countries around the world. Applicable regulations, fees and subsidies encourage entrepreneurs to look for solutions that will reduce operating costs and limit their negative impact on the natural environment. In the article, it was decided to carry out a technical and economic analysis and investment risk analysis for the distributed production of electricity and heat based on natural gas. Six scenarios were taken into account, depending on the number of gas engines, the use of the photovoltaic installation and the Organic Rankine Cycle (ORC) system. It has been shown that the most advantageous of the presented solution is the use of a system adjusted to the power of an industrial plant (return on investment in 4th year). The least beneficial for the investor are solutions aimed at the use and resale of energy supplemented with photovoltaic panels and an ORC system. An investment risk analysis and a sensitivity analysis were also performed. It shows how changes in electricity and gas prices and the environmental fee affect the profitability of investments. It has been shown that solutions with variable power are characterised by the lowest investment risk. The summary indicates the possible activities leading to greater economic efficiency. Such actions will be forced in the future by the market, political and environmental situation. Analyses such as these will allow entrepreneurs to thoroughly prepare for the European Union energy modernization process.Michał GołębiewskiMarta Galant-GołębiewskaMDPI AGarticleCHP systemPV systemsensitivity analysesrisk evaluationTechnologyTENEnergies, Vol 14, Iss 7538, p 7538 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	CHP system PV system sensitivity analyses risk evaluation Technology T
spellingShingle	CHP system PV system sensitivity analyses risk evaluation Technology T Michał Gołębiewski Marta Galant-Gołębiewska Economic Model and Risk Analysis of Energy Investments Based on Cogeneration Systems and Renewable Energy Sources
description	Today, distributed energy production is a key activity supporting energy systems in many countries around the world. Applicable regulations, fees and subsidies encourage entrepreneurs to look for solutions that will reduce operating costs and limit their negative impact on the natural environment. In the article, it was decided to carry out a technical and economic analysis and investment risk analysis for the distributed production of electricity and heat based on natural gas. Six scenarios were taken into account, depending on the number of gas engines, the use of the photovoltaic installation and the Organic Rankine Cycle (ORC) system. It has been shown that the most advantageous of the presented solution is the use of a system adjusted to the power of an industrial plant (return on investment in 4th year). The least beneficial for the investor are solutions aimed at the use and resale of energy supplemented with photovoltaic panels and an ORC system. An investment risk analysis and a sensitivity analysis were also performed. It shows how changes in electricity and gas prices and the environmental fee affect the profitability of investments. It has been shown that solutions with variable power are characterised by the lowest investment risk. The summary indicates the possible activities leading to greater economic efficiency. Such actions will be forced in the future by the market, political and environmental situation. Analyses such as these will allow entrepreneurs to thoroughly prepare for the European Union energy modernization process.
format	article
author	Michał Gołębiewski Marta Galant-Gołębiewska
author_facet	Michał Gołębiewski Marta Galant-Gołębiewska
author_sort	Michał Gołębiewski
title	Economic Model and Risk Analysis of Energy Investments Based on Cogeneration Systems and Renewable Energy Sources
title_short	Economic Model and Risk Analysis of Energy Investments Based on Cogeneration Systems and Renewable Energy Sources
title_full	Economic Model and Risk Analysis of Energy Investments Based on Cogeneration Systems and Renewable Energy Sources
title_fullStr	Economic Model and Risk Analysis of Energy Investments Based on Cogeneration Systems and Renewable Energy Sources
title_full_unstemmed	Economic Model and Risk Analysis of Energy Investments Based on Cogeneration Systems and Renewable Energy Sources
title_sort	economic model and risk analysis of energy investments based on cogeneration systems and renewable energy sources
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/28f4d1b907ab4583872aa41f743a64ef
work_keys_str_mv	AT michałgołebiewski economicmodelandriskanalysisofenergyinvestmentsbasedoncogenerationsystemsandrenewableenergysources AT martagalantgołebiewska economicmodelandriskanalysisofenergyinvestmentsbasedoncogenerationsystemsandrenewableenergysources
_version_	1718412339032621056

Economic Model and Risk Analysis of Energy Investments Based on Cogeneration Systems and Renewable Energy Sources

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