A study of the feasibility of using standards of performance funding to support investment in active solar heating systems

International Nuclear Information System (INIS)

1999-01-01

This report summarises the results of studies examining the feasibility of starting Standards of Performance (SOP) programmes to support investment in solar heating systems and develop tools for helping the implementation of the programmes. The background to the project is traced, and the scope for an active solar heating SOP scheme, the market potential for the SOP schemes in Great Britain, and the purchasing of the associated hardware within the SOP scheme are examined. (UK)

Concentrating solar power plant investment and operation decisions under different price and support mechanisms

International Nuclear Information System (INIS)

Kost, Christoph; Flath, Christoph M.; Möst, Dominik

2013-01-01

The dispatch opportunities provided by storage-enhanced Concentrating Solar Power (CSP) plants have direct implications on the investment decisions as not only nameplate capacity but also the storage capacity and the solar multiple play a crucial role for the viability of the plant investment. By integrating additional technical aspects and operation strategies, this paper extends the optimization model proposed by Madaeni et al., How Thermal Energy Storage Enhances the Economic Viability of Concentrating Solar Power. Using a mixed integer maximization approach the paper yields both the optimal layout decision and the operation of CSP plants. Subsequently, the economic value of CSP storage is analyzed via energy modeling of a Spanish plant location under the respective wholesale market prices as well as the local feed-in tariff. The analysis shows that investment incentives for CSP plants with storage need to appropriately account for the interdependency between the price incentives and the plant operating strategy. As the resulting revenue characteristics influence the optimal size of solar field and storage differing operating strategies also give rise to differing optimal plant layouts. Most noteworthy, the current Spanish support scheme offers only limited incentives for larger thermal storage capacity. - Highlights: • Dispatch opportunities of CSP have direct implications on both investment and operational decisions. • Valuation approach with a single mixed integer maximization problem. • Profitability of CSP plants under the premium feed-in tariff in Spain was assessed. • Layout decision and storage size are influenced by remuneration scheme. • Discuss alternative remuneration schemes for “dispatchable” RE technologies

Coordinated renewable energy support schemes

DEFF Research Database (Denmark)

Morthorst, P.E.; Jensen, S.G.

2006-01-01

. The first example covers countries with regional power markets that also regionalise their support schemes, the second countries with separate national power markets that regionalise their support schemes. The main findings indicate that the almost ideal situation exists if the region prior to regionalising...

Incentive-based Financial Support Scheme for Immature Renewable Energy Systems

DEFF Research Database (Denmark)

Andersen, Morten Thøtt; Frigaard, Peter Bak

2015-01-01

Most of today’s renewable energy systems rely heavily on investments as well as public financial support. This support is often given by means of a higher sales price for each kWh produced, i.e. feed-in tariffs (FITs), green certificates or Renewable Obligation Certificates (ROCs), or by a fixed...... amount, being a percentage of the construction costs of the facility. All these ways of financing have different downsides. The feed-in tariff based kWh prices have some incentives to improve the technology, but enables infeasible solutions to stay financially supported even while R&D is in status quo....... The fixed amount only helps with installation costs, which should not be an issue once the technology is sufficiently feasible. This means that the current ways of granting financial support all lack incentives for increasing production or decreasing construction costs. This paper presents a unique scheme...

Can the future EU ETS support wind energy investments?

International Nuclear Information System (INIS)

Blanco, Maria Isabel; Rodrigues, Gloria

2008-01-01

This article discusses how the future Emissions Trading Scheme legislation should be designed to allow the European Union to comply with the 20% CO 2 emissions reduction target, while at the same time promoting wind energy investments. We examine whether CO 2 prices could eventually replace the existing support schemes for wind and if they adequately capture its benefits. The analysis also looks at the effectiveness of the clean development and joint implementation mechanisms to trigger wind projects and technology transfer in developing countries. We find out that climate policy is unlikely to provide sufficient incentives to promote wind power, and that other policies should be used to internalise the societal benefits that accrue from deploying this technology: CO 2 prices can only reflect the beneficial impact of wind on climate change but not its contribution to the security of supply or employment creation. A minimum price of around Euro 40/tCO 2 should be attained to maintain present support levels for wind and this excludes income risks and intermediation costs. Finally, CDM improves the return rate of wind energy projects in third countries, but it is the local institutional framework and the long-term stability of the CO 2 markets that matters the most

Can the future EU ETS support wind energy investments?

Energy Technology Data Exchange (ETDEWEB)

Blanco, Maria Isabel [Department of Economic Analysis, Faculty of Economics,University of Alcala, Plaza de la Victoria 3, 28002 Alcala de Henares, Madrid (Spain); Rodrigues, Gloria [European Wind Energy Association, EWEA, Rue D' Arlon 63-65, 1040 Brussels (Belgium)

2008-04-15

This article discusses how the future Emissions Trading Scheme legislation should be designed to allow the European Union to comply with the 20% CO{sub 2} emissions reduction target, while at the same time promoting wind energy investments. We examine whether CO{sub 2} prices could eventually replace the existing support schemes for wind and if they adequately capture its benefits. The analysis also looks at the effectiveness of the clean development and joint implementation mechanisms to trigger wind projects and technology transfer in developing countries. We find out that climate policy is unlikely to provide sufficient incentives to promote wind power, and that other policies should be used to internalise the societal benefits that accrue from deploying this technology: CO{sub 2} prices can only reflect the beneficial impact of wind on climate change but not its contribution to the security of supply or employment creation. A minimum price of around EUR40/tCO{sub 2} should be attained to maintain present support levels for wind and this excludes income risks and intermediation costs. Finally, CDM improves the return rate of wind energy projects in third countries, but it is the local institutional framework and the long-term stability of the CO{sub 2} markets that matters the most. (author)

Evaluation of the Norwegian R&D Tax Credit Scheme

Directory of Open Access Journals (Sweden)

Ådne Cappelen

2010-11-01

Full Text Available We find that the Norwegian R&D tax credit scheme introduced in 2002 mainly works as intended. The scheme is cost-effective and it is used by a large number of firms. It stimulates these firms to invest more in R&D, and, in particular, the effect is positive for small firms with little R&D experience. The returns on the R&D investments supported by the scheme are positive and generally not different from the returns to other R&D investments. We have found examples of what can be interpreted as tax motivated adjustments to the scheme, but to some extent this must be accepted as a cost to subsidy and support schemes intended for use by a large number of economic agents. This is particularly so when attempts are made to keep administrative expenditures and control routines at a low level.

Understanding the effect of an emissions trading scheme on electricity generator investment and retirement behaviour: the proposed carbon pollution reduction scheme

Energy Technology Data Exchange (ETDEWEB)

Lambie, N.R. [Australian National University, Canberra, ACT (Australia). Crawford School of Economics & Government

2010-04-15

The objective of a greenhouse gas (GHG) emissions trading scheme (ETS) is to reduce emissions by transitioning the economy away from the production and consumption of goods and services that are GHG intensive. A GHG ETS has been a public policy issue in Australia for over a decade. The latest policy initiative on an ETS is the proposed Carbon Pollution Reduction Scheme (CPRS). A substantial share of Australia's total GHG reduction under the CPRS is expected to come from the electricity generation sector. This paper surveys the literature on investment behaviour under an ETS. It specifically focuses on the relationship between the design of an ETS and a generator's decisions to invest in low emissions plant and retire high emissions plant. The proposed CPRS provides the context for presenting key findings along with the implications for the electricity generation sector's transition to lower emissions plant. The literature shows that design features such as the method of allocating permits, the stringency of the emissions cap along with permit price uncertainty, provisions for banking, borrowing and internationally trading permits, and the credibility of emissions caps and policy uncertainty may all significantly impact on the investment and retirement behaviour of generators.

Green investment: Trends and determinants

International Nuclear Information System (INIS)

Eyraud, Luc; Clements, Benedict; Wane, Abdoul

2013-01-01

This paper fills a gap in the macroeconomic literature on renewable sources of energy. It offers a definition of green investment and analyzes the trends and determinants of this investment over the last decade for 35 advanced and emerging countries. We use a new multi-country historical dataset and find that green investment has become a key driver of the energy sector and that its rapid growth is now mostly driven by China. Our econometric results suggest that green investment is boosted by economic growth, a sound financial system conducive to low interest rates, and high fuel prices. We also find that some policy interventions, such as the introduction of carbon pricing schemes or “feed-in-tariffs,” which require use of “green” energy, have a positive and significant impact on green investment. Other interventions, such as biofuel support, do not appear to be associated with higher green investment. - Highlights: • We offer a definition of green investment and review its trend since 2000. • We analyze its determinants from both theoretical and empirical perspectives. • Green investment is boosted by economic growth, interest rates, and fuel prices. • Feed-in-tariffs and carbon pricing schemes impact positively green investment

Franchise Bidding in the Water Industry- Auction Schemes and Investment Incentives

OpenAIRE

Urs Meister

2004-01-01

The periodical re-auction of a water monopoly concession causes the danger of underinvestment. If the life-time of specific assets such as water pipes exceeds the contract length and transferring the ownership of assets is difficult, the incumbent franchisee faces a hold-up problem. Using a simple auction model that considers the specifics of the piped water sector this paper shows that investment incentives may vary depending on the applied auction scheme. The model is designed as a two stag...

Using Investment Funds to Support Advancements in Healthcare

OpenAIRE

Nawar, Anthony

2017-01-01

The topic of this thesis is about using investment funds to support advancements in healthcare. The structure is designed to identify the relevant elements in a funding strategy that can be used to support healthcare companies likely to produce usable solutions. The research objective is to establish a proper investment fund strategy that supports healthcare. Additionally, it is positioned to highlight the dynamic components that outline the viable fund. The preliminary scope of the ...

Network Regulation and Support Schemes - How Policy Interactions Affect the Integration of Distributed Generation

DEFF Research Database (Denmark)

Ropenus, Stephanie; Jacobsen, Henrik; Schröder, Sascha Thorsten

2011-01-01

This article seeks to investigate the interactions between the policy dimensions of support schemes and network regulation and how they affect distributed generation. Firstly, the incentives of distributed generators and distribution system operators are examined. Frequently there exists a trade......-off between the incentives for these two market agents to facilitate the integration of distributed generation. Secondly, the interaction of these policy dimensions is analyzed, including case studies based on five EU Member States. Aspects of operational nature and investments in grid and distributed...

Working capital management in the process of financial support of investment and construction projects and of the construction material industry

Science.gov (United States)

Danilochkina, Nadezhda; Lukmanova, Inessa; Roshchina, Olga; Voytolovskiy, Nikolay

2018-03-01

The article presents the analysis of working capital in the process of financial support of high-rise construction investment projects. The factors influencing the choice of the working capital management model were analyzed, the reasons of the change in the requirement for the values of current assets in the process of construction of high-rise facilities were determined. The author has developed the scheme of interrelation between production, operational and financial activity cycles of enterprises implementing investment projects of unique buildings and structures and made a comparative description of their financing sources.

The evolution of the support scheme for promoting renewable energy sources in Romania

Directory of Open Access Journals (Sweden)

Atănăsoae Pavel

2016-01-01

Full Text Available The paper presents an analysis of the evolution of the support scheme for promoting renewable energy sources in Romania, following: the annual mandatory quotas of green certificate purchase and those achieved; the price of green certificates; the evolution of the RES-E installed capacity and implicitly of the investments in renewable energy sources; the structure of the installed power in RES-E (wind power plants, photovoltaic power plants, hydroelectric power plants with an installed capacity that is not larger than 10 MW, biomass power plants; the contribution of the renewable energy sources to the production of electricity in Romania.

EU Emissions Trading Scheme and Investments in the power sector

Energy Technology Data Exchange (ETDEWEB)

Sapienza, M.D.; Stefanoni, S.

2007-07-01

How environmental regulation affects electricity players' investment decisions? Should policy makers look beyond for alternative mechanisms - such as energy efficiency, capture and storage of carbon dioxide, and incentives for renewables - to fulfill the environmental objectives set by Kyoto Protocol? This paper suggests - through a Real Option approach - how the efficacy of the EU Emission Trading Scheme on technological innovation, emissions reduction and energy price dynamics, is strongly affected by the 'hysteresis' emerging from the capital budgeting process of main utilities. As a matter of fact, long-term substitutions between coal-fired units and Combined Cycle Gas Turbine plants production only take place under quite restrictive conditions. (auth)

Privacy Preserving Mapping Schemes Supporting Comparison

NARCIS (Netherlands)

Tang, Qiang

2010-01-01

To cater to the privacy requirements in cloud computing, we introduce a new primitive, namely Privacy Preserving Mapping (PPM) schemes supporting comparison. An PPM scheme enables a user to map data items into images in such a way that, with a set of images, any entity can determine the <, =, >

Renewable energy production support schemes for residential-scale solar photovoltaic systems in Nordic conditions

International Nuclear Information System (INIS)

Hirvonen, Janne; Kayo, Genku; Cao, Sunliang; Hasan, Ala; Sirén, Kai

2015-01-01

The objective of this study was to examine the effect of production-based support schemes on the economic feasibility of residential-scale PV systems (1–10 kW) in Finland. This was done by calculating the payback time for various sizes of newly installed PV systems for a Finnish detached house with district heating. Three types of economic support schemes (guaranteed selling price, fixed premiums and self-consumption incentives) were tested in an hourly simulation. The load of the building was based on real-life measurements, while PV output was simulated with TRNSYS software. The energy results were post-processed with economic data in MATLAB to find the payback time. Hourly electricity prices from the Nordic energy market were used with PV system prices from Finnish companies. Unsubsidised residential PV systems in Finland had payback times of more than 40 years. The production-based support for PV generation needs to be two to three times the buying price of electricity, to make it possible to pay back the initial investment in 20 years. Low capacity systems with more than 50% self-consumption (under 3 kW) were favoured by self-consumption incentives, while high capacity systems with less than 40% self-consumption (over 5 kW) were favoured by the FIT-type support schemes. - Highlights: • Unsubsidised residential PV is uneconomical in Finland. • Support rate must be 2 times the electricity price for reasonable payback time. • Even using all electricity on-site is not profitable enough without support. • Assumed real interest rate had great influence on payback time. • Hourly electricity prices are much lower than average values from Finnish statistics

Network Regulation and Support Schemes

DEFF Research Database (Denmark)

Ropenus, Stephanie; Schröder, Sascha Thorsten; Jacobsen, Henrik

2009-01-01

-in tariffs to market-based quota systems, and network regulation approaches, comprising rate-of-return and incentive regulation. National regulation and the vertical structure of the electricity sector shape the incentives of market agents, notably of distributed generators and network operators......At present, there exists no explicit European policy framework on distributed generation. Various Directives encompass distributed generation; inherently, their implementation is to the discretion of the Member States. The latter have adopted different kinds of support schemes, ranging from feed....... This article seeks to investigate the interactions between the policy dimensions of support schemes and network regulation and how they affect the deployment of distributed generation. Firstly, a conceptual analysis examines how the incentives of the different market agents are affected. In particular...

Support Schemes and Ownership Structures

DEFF Research Database (Denmark)

Ropenus, Stephanie; Schröder, Sascha Thorsten; Costa, Ana

, Denmark, France and Portugal. Another crucial aspect for the diffusion of the mCHP technology is possible ownership structures. These may range from full consumer ownership to ownership by utilities and energy service companies, which is discussed in Section 6. Finally, a conclusion (Section 7) wraps up......In recent years, fuel cell based micro‐combined heat and power has received increasing attention due to its potential contribution to energy savings, efficiency gains, customer proximity and flexibility in operation and capacity size. The FC4Home project assesses technical and economic aspects...... of support scheme simultaneously affects risk and technological development, which is the focus of Section 4. Subsequent to this conceptual overview, Section 5 takes a glance at the national application of support schemes for mCHP in practice, notably in the three country cases of the FC4Home project...

Optimal control, investment and utilization schemes for energy storage under uncertainty

Science.gov (United States)

Mirhosseini, Niloufar Sadat

Energy storage has the potential to offer new means for added flexibility on the electricity systems. This flexibility can be used in a number of ways, including adding value towards asset management, power quality and reliability, integration of renewable resources and energy bill savings for the end users. However, uncertainty about system states and volatility in system dynamics can complicate the question of when to invest in energy storage and how best to manage and utilize it. This work proposes models to address different problems associated with energy storage within a microgrid, including optimal control, investment, and utilization. Electric load, renewable resources output, storage technology cost and electricity day-ahead and spot prices are the factors that bring uncertainty to the problem. A number of analytical methodologies have been adopted to develop the aforementioned models. Model Predictive Control and discretized dynamic programming, along with a new decomposition algorithm are used to develop optimal control schemes for energy storage for two different levels of renewable penetration. Real option theory and Monte Carlo simulation, coupled with an optimal control approach, are used to obtain optimal incremental investment decisions, considering multiple sources of uncertainty. Two stage stochastic programming is used to develop a novel and holistic methodology, including utilization of energy storage within a microgrid, in order to optimally interact with energy market. Energy storage can contribute in terms of value generation and risk reduction for the microgrid. The integration of the models developed here are the basis for a framework which extends from long term investments in storage capacity to short term operational control (charge/discharge) of storage within a microgrid. In particular, the following practical goals are achieved: (i) optimal investment on storage capacity over time to maximize savings during normal and emergency

Assessing the Value of Housing Schemes through Sustainable Return on Investment: A Path towards Sustainability-Led Evaluations?

Directory of Open Access Journals (Sweden)

Kevin Dean

2017-12-01

Full Text Available The 2016 United Nations (UN New Urban Agenda clearly reaffirms the concept that sustainable cities require intertwined environmental and social sustainability. The United Nations Sustainable Development Goal (SDG 11—“Make cities inclusive, safe, resilient, and sustainable”—sets (as a primary target the provision of sufficient affordable housing. Despite the central role that housing plays in ensuring sustainability and the importance of both environmental and social pillars in ensuring sustainable development, current evaluative methods that support decision making on social housing interventions fail to capture all of the socio-environmental value contained in the UN SDG 11. This paper addresses the issue by demonstrating how Sustainable Return on Investment can successfully describe and analyse a range of externalities related to the sustainable value generated by social housing regeneration schemes. To achieve this goal, a single case study strategy has been chosen. Two extant projects—a high-rise housing scheme and an environmental-led program developed by City West Housing Trust (a nonprofit housing association based in the Manchester area—have been assessed in order to monetise their social and environmental value through different methods. The findings show that, historically, the environmental and social value of regeneration schemes have been largely disregarded because of a gap in the evaluation methods, and that there is room for significant improvement for future evaluation exercises.

Support schemes and ownership structures - The policy context for fuel cell based micro-combined heat and power

Energy Technology Data Exchange (ETDEWEB)

Ropenus, S.; Thorsten Schroeder, S.; Costa, A.; Obe, E.

2010-05-15

In recent years, fuel cell based micro-combined heat and power has received increasing attention due to its potential contribution to energy savings, efficiency gains, customer proximity and flexibility in operation and capacity size. The FC4Home project assesses technical and economic aspects of the ongoing fuel cell based micro-combined heat and power (mCHP) demonstration projects by addressing the socio-economic and systems analyses perspectives of a large-scale promotion scheme of fuel cells. This document constitutes the deliverable of Work Package 1 of the FC4Home project and provides an introduction to the policy context for mCHP. Section 1 describes the rationale for the promotion of mCHP by explaining its potential contribution to European energy policy goals. Section 2 addresses the policy context at the supranational European level by outlining relevant EU Directives on support schemes for promoting combined heat and power and energy from renewable sources. These Directives are to be implemented at the national level by the Member States. Section 3 conceptually presents the spectrum of national support schemes, ranging from investment support to market-based operational support. The choice of support scheme simultaneously affects risk and technological development, which is the focus of Section 4. Subsequent to this conceptual overview, Section 5 takes a glance at the national application of support schemes for mCHP in practice, notably in the three country cases of the FC4Home project, Denmark, France and Portugal. Another crucial aspect for the diffusion of the mCHP technology is possible ownership structures. These may range from full consumer ownership to ownership by utilities and energy service companies, which is discussed in Section 6. Finally, a conclusion (Section 7) wraps up previous findings and provides a short 'preview' of the quantitative analyses in subsequent Work Packages by giving some food for thought on the way. (author)

Chemical plant innovative safety investments decision-support methodology.

Science.gov (United States)

Reniers, G L L; Audenaert, A

2009-01-01

This article examines the extent to which investing in safety during the creation of a new chemical installation proves profitable. The authors propose a management supporting cost-benefit model that identifies and evaluates investments in safety within a chemical company. This innovative model differentiates between serious accidents and less serious accidents, thus providing an authentic image of prevention-related costs and benefits. In classic cost-benefit analyses, which do not make such differentiations, only a rudimentary image of potential profitability resulting from investments in safety is obtained. The resulting management conclusions that can be drawn from such classical analyses are of a very limited nature. The proposed model, however, is applied to a real case study and the proposed investments in safety at an appointed chemical installation are weighed against the estimated hypothetical benefits resulting from the preventive measures to be installed at the installation. In the case-study carried out in question, it would appear that the proposed prevention investments are justified. Such an economic exercise may be very important to chemical corporations trying to (further) improve their safety investments.

Co-ordination of renewable energy support schemes in the EU

Energy Technology Data Exchange (ETDEWEB)

Grenaa Jensen, S.; Morthorst, P.E. [Risoe National Lab., Roskilde (Denmark)

2007-05-15

This paper illustrates the effect that can be observed when support schemes for renewable energy are regionalised. Two theoretical examples are used to explain interactive effects on, e.g., price of power, conditions for conventional power producers, and changes in import and export of power. The results are based on a deterministic partial equilibrium model, where two cases are studied. The first case covers countries with regional power markets that also regionalise their tradable green certificate (TGC) support schemes. The second, countries with separate national power markets that regionalise their TGC-support schemes. The main findings indicate that the almost ideal situation exists if the region prior to regionalising their RES-E support scheme already has a common liberalised power market. In this case, introduction of a common TGC-support scheme for renewable technologies will lead to more efficient sitings of renewable plants, improving economic and environmental performance of the total power system. But if no such common power market exits, regionalising their TGC-schemes might, due to interactions, introduce distortions in the conventional power system. Thus, contrary to intentions, we might in this case end up in a system that is far from optimal with regard to efficiency and emissions. (au)

Co-ordination of renewable energy support schemes in the EU

International Nuclear Information System (INIS)

Grenaa Jensen, S.; Morthorst, P.E.

2007-01-01

This paper illustrates the effect that can be observed when support schemes for renewable energy are regionalised. Two theoretical examples are used to explain interactive effects on, e.g., price of power, conditions for conventional power producers, and changes in import and export of power. The results are based on a deterministic partial equilibrium model, where two cases are studied. The first case covers countries with regional power markets that also regionalise their tradable green certificate (TGC) support schemes. The second, countries with separate national power markets that regionalise their TGC-support schemes. The main findings indicate that the almost ideal situation exists if the region prior to regionalising their RES-E support scheme already has a common liberalised power market. In this case, introduction of a common TGC-support scheme for renewable technologies will lead to more efficient sitings of renewable plants, improving economic and environmental performance of the total power system. But if no such common power market exits, regionalising their TGC-schemes might, due to interactions, introduce distortions in the conventional power system. Thus, contrary to intentions, we might in this case end up in a system that is far from optimal with regard to efficiency and emissions. (au)

An energy pricing scheme for the diffusion of decentralized renewable technology investment in developing countries

International Nuclear Information System (INIS)

Thiam, Djiby Racine

2011-01-01

The purpose of this paper is to investigate price support for market penetration of renewable energy in developing nations through a decentralized supply process. We integrate the new decentralized energy support: renewable premium tariff, to analyze impacts of tariff incentives on the diffusion of renewable technology in Senegal. Based on photovoltaic and wind technologies and an assessment of renewable energy resources in Senegal, an optimization technique is combined with a cash flow analysis to investigate investment decisions in renewable energy sector. Our findings indicate that this support mechanism could strengthen the sustainable deployment of renewable energy in remote areas of Senegal. Although different payoffs emerged, profits associated with a renewable premium tariff are the highest among the set of existing payoffs. Moreover in analyzing impacts of price incentives on social welfare, we show that price tariffing schemes must be strategically scrutinized in order to minimize welfare loss associated with price incentives. Finally we argue that a sustainable promotion of incentive mechanisms supporting deployment of renewable technology in developing nations should be carried out under reliable institutional structures. The additional advantage of the proposed methodology is its ability to integrate different stakeholders (producers, investors and consumers) in the planning process. - Highlights: → We simulate impacts of price support for market penetration of renewable technology in developing nations. → An array of price incentive mechanisms strengthens diffusion of renewable technology in Senegal. → Moreover, reliable institutional frameworks in developing nations are a requirement in order to strengthen diffusion path of renewable technologies.

Effect of a Green Investment Society on the Dutch Renewable Energy Scheme (SDE); Effect Groene Investeringsmaatschappij op SDE

Energy Technology Data Exchange (ETDEWEB)

Lensink, S.M.; Van Stralen, J. [ECN Beleidsstudies, Petten (Netherlands)

2012-11-27

On request of the Holland Financial Centre, ECN has projected the potential benefits of a Green Investment Company for the expenditure of the SDE+ Scheme (Renewable Energy Incentivisation Scheme). To this end, a calculation was made of the effects of an interest rebate for sustainable energy projects [Dutch] Op verzoek van Holland Financial Centre heeft ECN geraamd wat de voordelen kunnen zijn van een Groene Investeringsmaatschappij op de uitgaven voor de SDE+ (Stimuleringsregeling Duurzame Energie). Hiertoe diende een berekening gemaakt te worden van de effecten van een rentekorting voor duurzame energieprojecten.

Risk analysis of the proxy life-cycle investments in the second pillar pension scheme in Croatia

Directory of Open Access Journals (Sweden)

Renata Kovačević

2015-03-01

Full Text Available In this article we analyze the expected risk of pension funds with different risk profiles in the proxy life-cycle model of investments for the 2nd pillar pension scheme in Croatia. The benefits of implementing proxy life-cycle investments, compared to the previous model of mandatory pension funds investments, are clearly visible in the total expected amount of accumulated savings from the risk/return perspective. However, those benefits are partially diminished by the fact that the expected risk of a pension fund with the lowest risk profile is not substantially different from the expected risk of a pension fund with a medium risk profile, due to the lack of diversification. Additionally, we analyze the robustness of the proxy life-cycle model to a sudden and severe market shock, where we determine the presence of risk for those members who choose to switch to a pension fund with a lower risk profile at an unfavorable moment.

The Model of Information Support for Management of Investment Attractiveness of Machine-Building Enterprises

Directory of Open Access Journals (Sweden)

Chernetska Olga V.

2016-11-01

Full Text Available The article discloses the content of the definition of “information support”, identifies basic approaches to the interpretation of this economic category. The main purpose of information support for management of enterprise investment attractiveness is determined. The key components of information support for management of enterprise investment attractiveness are studied. The main types of automated information systems for management of the investment attractiveness of enterprises are identified and characterized. The basic computer programs for assessing the level of investment attractiveness of enterprises are considered. A model of information support for management of investment attractiveness of machine-building enterprises is developed.

A Mathematical Model of Profit-Loss Sharing Scheme of Small Investment for Traditional Market Traders using The Semi-Fuzzy Logic Approach

Directory of Open Access Journals (Sweden)

Novriana Sumarti

2017-02-01

Full Text Available A mathematical model of micro-finance investment using profit-loss sharing scheme are made and implemented to simulated data. Here profits from the venture will be shared in a portion between the investor and the entity running the business. The scheme can be classified as Musharaka type of investment in Sharia economy. The proposed model is theoretically implemented with data from small-scale traders at a local traditional market who have small turnover. They are common target of usurers who lend money with high interest rate and penalties. If the traders are in unfortunate conditions, they are potentially in poorer condition than before committing themselves to the usurer. In the conventional practices of the profit sharing scheme, the investor will get a fixed portion of the trader’s income, which is applied for all kind of small-scale traders. If the traders are diligent and hard worker and have very high turnover, then the investor will gain much more profit whether the contributed capital is small or large. In this paper, the scheme is implemented using Semi-Fuzzy Logic Approach so that the profit-loss sharing scheme can achieve its intended goal, which is to make a profitable investment not only for the investor but also for traders. The approach is not fully using Fuzzy Logic because some variables are still in crisp numbers and the optimization problem is regular in the form of crisp numbers. Based on the existing data, the results show that the optimal profit share is depended on the income of the traders. The higher the income coming from the venture, the lesser the profit share for the investor which is reasonable with the fixed initial contributed capital.

Impact of renewables on electricity markets – Do support schemes matter?

International Nuclear Information System (INIS)

Winkler, Jenny; Gaio, Alberto; Pfluger, Benjamin; Ragwitz, Mario

2016-01-01

Rising renewable shares influence electricity markets in several ways: among others, average market prices are reduced and price volatility increases. Therefore, the “missing money problem” in energy-only electricity markets is more likely to occur in systems with high renewable shares. Nevertheless, renewables are supported in many countries due to their expected benefits. The kind of support instrument can however influence the degree to which renewables influence the market. While fixed feed-in tariffs lead to higher market impacts, more market-oriented support schemes such as market premiums, quota systems and capacity-based payments decrease the extent to which markets are affected. This paper analyzes the market impacts of different support schemes. For this purpose, a new module is added to an existing bottom-up simulation model of the electricity market. In addition, different degrees of flexibility in the electricity system are considered. A case study for Germany is used to derive policy recommendations regarding the choice of support scheme. - Highlights: •Renewable support schemes matter regarding the impact on electricity markets. •Market-oriented support schemes reduce the impact on electricity markets. •More flexible electricity systems reduce the need for market participation. •Sliding premiums combine market integration with a productive risk allocation.

Investigation of factors determining risk-taking strategies in Pension fund investment of Defined Benefit schemes in the UK corporate pension system

OpenAIRE

Hu, Chunan

2014-01-01

This paper investigates various incentives determining risk taking strategies of the corporate pension fund investment from the perspective of sponsors. In the United Kingdom, occupational pension plans especially defined benefit (DB) pension schemes play important roles in the financial market. Comparing with the conventional framework managing pension risk as a contained part of the whole firm risk, recent studies start to focus on pension risk especially investment risk as an individual to...

The Effects of the Investment Support Scheme on the Dynamics of the Swedish Photovoltaic Sector

International Nuclear Information System (INIS)

Palmblad, Linus

2006-01-01

The support from the Swedish government to the PV sector has so far been focused on research and development. But in May 2005 the Swedish government showed that they want to follow the global trend and introduced a market deployment initiative directed to grid connected PV systems on buildings for public activities. Compared to subsidy schemes in other countries it is small. But the Swedish PV market is still under development and the market support will lead to a significant leap for the installed capacity of PV systems in Sweden. The aim of this study is to create a picture of the dynamics in the Swedish PV sector and make an early evaluation of the effects of the market deployment initiative. Information has been gathered from five new PV projects in Sweden through interviews with involved actors. The analysis is carried out with an innovation systems perspective. The goal of the market support is to create prerequisites for further diffusion of PV systems and development of a competent PV sector in Sweden. When evaluating the market support it is therefore more interesting to look at how the support has affected the dynamics of the Swedish PV innovation system instead of just looking at how many systems that have been built. Despite that this report was carried out in an early phase of the market deployment initiative, it shows that the market support has certainly had some effect on the Swedish PV innovation system. These effects are described and backed up by examples from the studied projects. The report also describes the most notable blocking mechanisms that became clear during the work. The occurrences of selfreinforcing mechanisms are crucial for the growth of the PV market. These mechanisms are also illustrated and together with the blocking mechanisms this gives a picture of the most important areas for policy measures. The results of this report shows that the market deployment initiative has lead to the start of a number of new PV projects and that

The Effects of the Investment Support Scheme on the Dynamics of the Swedish Photovoltaic Sector

Energy Technology Data Exchange (ETDEWEB)

Palmblad, Linus

2006-01-15

The support from the Swedish government to the PV sector has so far been focused on research and development. But in May 2005 the Swedish government showed that they want to follow the global trend and introduced a market deployment initiative directed to grid connected PV systems on buildings for public activities. Compared to subsidy schemes in other countries it is small. But the Swedish PV market is still under development and the market support will lead to a significant leap for the installed capacity of PV systems in Sweden. The aim of this study is to create a picture of the dynamics in the Swedish PV sector and make an early evaluation of the effects of the market deployment initiative. Information has been gathered from five new PV projects in Sweden through interviews with involved actors. The analysis is carried out with an innovation systems perspective. The goal of the market support is to create prerequisites for further diffusion of PV systems and development of a competent PV sector in Sweden. When evaluating the market support it is therefore more interesting to look at how the support has affected the dynamics of the Swedish PV innovation system instead of just looking at how many systems that have been built. Despite that this report was carried out in an early phase of the market deployment initiative, it shows that the market support has certainly had some effect on the Swedish PV innovation system. These effects are described and backed up by examples from the studied projects. The report also describes the most notable blocking mechanisms that became clear during the work. The occurrences of selfreinforcing mechanisms are crucial for the growth of the PV market. These mechanisms are also illustrated and together with the blocking mechanisms this gives a picture of the most important areas for policy measures. The results of this report shows that the market deployment initiative has lead to the start of a number of new PV projects and that

The benefit of regional diversification of cogeneration investments in Europe: A mean-variance portfolio analysis

Energy Technology Data Exchange (ETDEWEB)

Westner, Guenther, E-mail: guenther.westner@eon-energie.co [E.ON Energy Projects GmbH, Arnulfstrasse 56, 80335 Munich (Germany); Madlener, Reinhard, E-mail: rmadlener@eonerc.rwth-aachen.d [Institute for Future Energy Consumer Needs and Behavior (FCN), Faculty of Business and Economics/E.ON Energy Research Center, RWTH Aachen University, Mathieustrasse 6, 52074 Aachen (Germany)

2010-12-15

The EU Directive 2004/8/EC, concerning the promotion of cogeneration, established principles on how EU member states can support combined heat and power generation (CHP). Up to now, the implementation of these principles into national law has not been uniform, and has led to the adoption of different promotion schemes for CHP across the EU member states. In this paper, we first give an overview of the promotion schemes for CHP in various European countries. In a next step, we take two standard CHP technologies, combined-cycle gas turbines (CCGT-CHP) and engine-CHP, and apply exemplarily four selected support mechanisms used in the four largest European energy markets: feed-in tariffs in Germany; energy efficiency certificates in Italy; benefits through tax reduction in the UK; and purchase obligations for power from CHP generation in France. For contracting companies, it could be of interest to diversify their investment in new CHP facilities regionally over several countries in order to reduce country and regulatory risk. By applying the Mean-Variance Portfolio (MVP) theory, we derive characteristic return-risk profiles of the selected CHP technologies in different countries. The results show that the returns on CHP investments differ significantly depending on the country, the support scheme, and the selected technology studied. While a regional diversification of investments in CCGT-CHP does not contribute to reducing portfolio risks, a diversification of investments in engine-CHP can decrease the risk exposure. - Research highlights: {yields}Preconditions for CHP investments differ significantly between the EU member states. {yields}Regional diversification of CHP investments can reduce the total portfolio risk. {yields}Risk reduction depends on the chosen CHP technology.

Learning from peer support schemes--can prison listeners support offenders who self-injure in custody?

Science.gov (United States)

Griffiths, Louise; Bailey, Di

2015-01-01

The purpose of this paper is to critically evaluate the current evidence for peer support in prisons, in particular its contribution to working with prisoners who self-injure and the extent to which the success of peer support schemes such as the prison listeners, hinges upon staff's willingness to engage with the initiative. The review was constructed by using primary and secondary terms to search the literature. The studies focused on peer support in custody with reference to mental health and self-injury. Searches identified papers on the prison listener scheme and staff perspectives on prison peer support, as these formed a central focus of the review. Studies were excluded from the review if the participants' behaviours was explicitly linked to suicidal intent, as the review focused on self-injury as a coping strategy. A total of 24 studies were selected according to specific inclusion criteria (six were grey literature, 18 academic literature). Of the 24 studies ten studies focused on peer support and self-injury. Of the 24 studies the listener scheme was the focus of 16 studies, of these 16 studies self-injury and the listener scheme was a focus of eight studies. Evidence from the review suggests that prison peer support could be considered on a continuum depending on the different degrees of peer involvement.

Status Review of Renewable and Energy Efficiency Support Schemes in Europe

Energy Technology Data Exchange (ETDEWEB)

NONE

2012-09-15

This document forms the latest update to the regular CEER Status Review of Renewable Energy and Energy Efficiency Support Schemes in Europe and builds on the previous CEER report C10-SDE-19-04a. The purpose of Status Review publications is to collect comparable data on RES support in Europe in order to provide policy-makers, regulators and industry participants with information on support schemes for electricity from renewable energy sources, by technology and type of instrument (e.g. Feed-in tariffs and Green Certificates). To collect this data, a questionnaire was circulated to CEER members in July 2012, to explore the renewable electricity support schemes currently in place in Member States across Europe.

FINANCIAL-ECONOMIC INTEGRATION AS A TOOL FOR INCREASE OF INVESTMENT SUPPORT OF AGRO-INDUSTRIAL PRODUCTION

Directory of Open Access Journals (Sweden)

E. R. Zakirova

2017-01-01

Full Text Available The article reveals the essence and systematizes the advantages of financial and economic integration. In the agro-industrial complex, this kind of integration contributes to attracting investments and reducing risks for investors, increasing the competitiveness and economic growth of the region. The relevance of the study is due to insufficiently researched remains many aspects of the functioning of integrated business systems in relation to individual industries, in particular, to agroindustrial production. The aim of the article is to study theoretical approaches to the essence of financial and economic integration in agro-industrial production and analyze the mechanism of investment support for the Russian agrarian sector, taking into account financial and economic integration. In preparing the article, general scientific methods of research were used: analysis and synthesis, generalization, comparison, classification. Results. The interpretation of financial and economic integration in Russian and foreign scientific publications is generalized. Distinctions of financial and economic integration are distinguished from other economic processes. The advantages of financial and economic integration for the economy and business entities are systematized. The importance of integrating industries and business entities in the agro-industrial complex, which is of strategic importance for ensuring Russia's food security, was noted. The branch structure of the agro-industrial complex is analyzed. The scheme of the integrated financial and economic mechanism in the agroindustrial complex is described. The importance of an optimal balance between cooperation and integration was underscored. The insufficiency of the methodological level of studies of agro-industrial integration is grounded. The components of the effect of financial and economic integration are considered. Positive effects of integration processes in the agroindustrial complex are

Design, Development and Implementation of Decision Support Systems for Private Equity Investment

OpenAIRE

Vroomen, Paul

2017-01-01

The objective of this research is to design, develop and implement an intelligent decision support system (IDSS) for making rational private equity investment decisions. (Private equity investments are capital investments in enterprises that are not traded on public equity markets; they include Equity Buy-Out, Venture Capital, and the new Equity Crowd Funding (ECF) asset classes). The design and development of the IDSS requires the integration of investment science (valuation theory, portfoli...

Comparation of the support schemes for generation of electricity from renewable energy sources and their influence on the electricity pr ices for the final electricity customers in Republic of Macedonia

International Nuclear Information System (INIS)

Veljanovska, Natasha

2013-01-01

, which is the most used support scheme for renewable energy in the world. The feed-in tariffs attract investments in building power plants using renewable energy, provide certainty and confidence for the investor, they are simple in design and implementation, implying low additional costs for the electricity customers compared to other schemes. The feed-in tariffs should be a set on a level that shall provide attractive rate of return of the investment as well as reasonable profit for the investors, but at the same time shall provide the least as possible influence of the purchased electricity price for the customers are given; proposals are given regarding the values of the feed-in tariffs, and also proposals to improve the current legislation in the Republic of Macedonia, in order to fulfill the strategic goals for share of energy from renewable sources in the total energy consumption. (Author)

The benefit of regional diversification of cogeneration investments in Europe. A mean-variance portfolio analysis

International Nuclear Information System (INIS)

Westner, Guenther; Madlener, Reinhard

2010-01-01

The EU Directive 2004/8/EC, concerning the promotion of cogeneration, established principles on how EU member states can support combined heat and power generation (CHP). Up to now, the implementation of these principles into national law has not been uniform, and has led to the adoption of different promotion schemes for CHP across the EU member states. In this paper, we first give an overview of the promotion schemes for CHP in various European countries. In a next step, we take two standard CHP technologies, combined-cycle gas turbines (CCGT-CHP) and engine-CHP, and apply exemplarily four selected support mechanisms used in the four largest European energy markets: feed-in tariffs in Germany; energy efficiency certificates in Italy; benefits through tax reduction in the UK; and purchase obligations for power from CHP generation in France. For contracting companies, it could be of interest to diversify their investment in new CHP facilities regionally over several countries in order to reduce country and regulatory risk. By applying the Mean-Variance Portfolio (MVP) theory, we derive characteristic return-risk profiles of the selected CHP technologies in different countries. The results show that the returns on CHP investments differ significantly depending on the country, the support scheme, and the selected technology studied. While a regional diversification of investments in CCGT-CHP does not contribute to reducing portfolio risks, a diversification of investments in engine-CHP can decrease the risk exposure. (author)

The benefit of regional diversification of cogeneration investments in Europe. A mean-variance portfolio analysis

Energy Technology Data Exchange (ETDEWEB)

Westner, Guenther; Madlener, Reinhard [E.ON Energy Projects GmbH, Arnulfstrasse 56, 80335 Munich (Germany)

2010-12-15

The EU Directive 2004/8/EC, concerning the promotion of cogeneration, established principles on how EU member states can support combined heat and power generation (CHP). Up to now, the implementation of these principles into national law has not been uniform, and has led to the adoption of different promotion schemes for CHP across the EU member states. In this paper, we first give an overview of the promotion schemes for CHP in various European countries. In a next step, we take two standard CHP technologies, combined-cycle gas turbines (CCGT-CHP) and engine-CHP, and apply exemplarily four selected support mechanisms used in the four largest European energy markets: feed-in tariffs in Germany; energy efficiency certificates in Italy; benefits through tax reduction in the UK; and purchase obligations for power from CHP generation in France. For contracting companies, it could be of interest to diversify their investment in new CHP facilities regionally over several countries in order to reduce country and regulatory risk. By applying the Mean-Variance Portfolio (MVP) theory, we derive characteristic return-risk profiles of the selected CHP technologies in different countries. The results show that the returns on CHP investments differ significantly depending on the country, the support scheme, and the selected technology studied. While a regional diversification of investments in CCGT-CHP does not contribute to reducing portfolio risks, a diversification of investments in engine-CHP can decrease the risk exposure. (author)

The design of renewable support schemes and CO_2 emissions in China

International Nuclear Information System (INIS)

Wu, Jie; Albrecht, Johan; Fan, Ying; Xia, Yan

2016-01-01

The renewable energy targets put forward by the Chinese government need comprehensive incentive schemes. This paper uses a multi-regional CGE model to evaluate two types of renewable support schemes; a subsidy scheme like a feed-in tariff (FIT) with a direct price impact for final consumers and a subsidy scheme without any price impact. We assess the CO_2 consequences of both approaches, as well as their impact on economic activity in terms of GDP, industrial structure, electricity generation structure, and regional final demand elasticities of electricity. We find that a support scheme with price impact is much more effective in reducing CO_2 emissions while the difference in GDP between the two policies is small. We estimate that the price implications of the support scheme allow for an additional emissions reduction of 113 Mt CO_2—or 0.07% of total emissions—in China during 2020–2035. The support scheme with a price impact does not lead to a negative impact on the Chinese economy although there are significant differences among regions. In addition, while the whole country faces an approximately unitary electricity elasticity demand, we find significant differences in electricity demand elasticities among Chinese regions. - Highlights: • Two types of FIT policies—with and without a price impact—are evaluated. • We assess the CO_2 emissions of both schemes and their impact on economic activity. • A support scheme with price impact is more effective in reducing CO_2 emissions. • The price impact allows for an additional reduction of 113 Mt CO_2 in China during 2020–2035. • Both of the FIT types have a very similar impact on coal consumption.

Government Strategic Support for Investment Activity

Science.gov (United States)

Turekulova, Assiya N.; Mukhambetova, Lyazzat K.; Doshan, Almagul S.; Issabekov, Baurzhan N.; Chimgentbayeva, Gulbakyt K.; Turegeldinova, Aliya Zh.

2016-01-01

When system risks are high most investors choose to exit the market; however, there are some contrarian investors who opt to make investments. The authors analyzed the main goals of the investment process and measures that should be provided by the government to stimulate investments and innovation especially by means of investment banking. The…

Cooperative Investment in Incomplete Markets under Financial Fairness

NARCIS (Netherlands)

Pazdera, J.; Schumacher, J.M.; Werker, B.J.M.

2016-01-01

Groups of agents, such as participants in a collective pension fund, can decide to undertake a joint investment and to define, ex ante, a rule for the division of proceeds. The collective investment decision and the allocation rule together form a risk sharing scheme. Such a scheme defines a

Cooperative investment in incomplete markets under financial fairness

NARCIS (Netherlands)

Pazdera, Jaroslav; Schumacher, Hans; Werker, Bas

2016-01-01

Groups of agents, such as participants in a collective pension fund, can decide to undertake a joint investment and to define, ex ante, a rule for the division of proceeds. The collective investment decision and the allocation rule together form a risk sharing scheme. Such a scheme defines a

Forging alliance with Russia. The example of a Green Investment Scheme

International Nuclear Information System (INIS)

Korppoo, Anna

2003-01-01

Russian Kyoto related interests are economic and after the US withdrawal the mission of Russian actors has been to find new demand for Russian credits and allowances. Kyoto related benefits to Russia will be significantly smaller than earlier expected, however, the revenues are now more likely to be focused on climate change mitigation purposes. Competition in the Kyoto market has established buyers' market and Russia has to accommodate the interests of investors in order to gain benefits. The Russian initiative 'Green Investment Scheme' to recycle revenues from International Emissions Trading (IET) to further environmental activities would convene demand for Russian AAUs but experience the same problems than the previous initiatives: inadequate institutional arrangement, unclear division of responsibilities between domestic actors, prolonged ratification process and lack of eligibility strategy. These problems have prevented implementation of GIS so far. Therefore, these problems have to be addressed by high-level Russian policy-makers if serious benefits from Kyoto are sought. Actors building alliances with Russia should focus on assisting with solving these problems

Developing and supporting coordinators of structured mentoring schemes in South Africa

Directory of Open Access Journals (Sweden)

Penny Abbott

2010-10-01

Research purpose: The aim of this research is to discover what the characteristics of coordinators of structured mentoring schemes in South Africa are, what is required of such coordinators and how they feel about their role, with a view to improving development and support for them. Motivation for the study: The limited amount of information about role requirements for coordinators which is available in the literature is not based on empirical research. This study aims to supply the empirical basis for improved development and support for coordinators. Research design and method: A purposive sample of 25 schemes was identified and both quantitative and qualitative data, obtained through questionnaires and interviews, were analysed using descriptive statistics and thematic analysis. Main findings: Functions of coordinators tend to be similar across different types of mentoring schemes. A passion for mentoring is important, as the role involves many frustrations. There is little formalised development and support for coordinators. Practical/managerial implications: The study clarifies the functions of the coordinator, offers a job description and profile and makes suggestions on how to improve the development of the coordinator’s skills. Contribution/value-add: An understanding of what is required from a coordinator, how the necessary knowledge and skills can be developed and how the coordinator can be supported,adds value to an organisation setting up or reviewing its structured mentoring schemes.

Similar goals, divergent motives. The enabling and constraining factors of Russia's capacity-based renewable energy support scheme

International Nuclear Information System (INIS)

Smeets, Niels

2017-01-01

In 2009, the Russian government set its first quantitative renewable energy target at 4.5% of the total electricity produced and consumed by 2020. In 2013, the Government launched its capacity-based renewable energy support scheme (CRESS), however, the expects it will merely add 0.3% to the current 0.67% share of renewables (Ministry of Energy, 2016c). This raises the question what factors might explain this implementation gap. On the basis of field research in Moscow, the article offers an in-depth policy analysis of resource-geographic, financial, institutional and ecologic enabling and constraining factors of Russia's CRESS between 2009 and 2015. To avoid the trap that policy intentions remain on paper, the entire policy cycle – from goal setting to implementation – has been covered. The article concludes that wind energy, which would have contributed the lion's share of new renewable energy capacity, lags behind, jeopardizing the quantitative renewable energy target. The depreciation of the rouble decreased return on investment, and the Local Content Requirement discouraged investors given the lack of Russian wind production facilities. Contrary to resource-geographic and financial expectations, solar projects have been commissioned more accurately, benefitting from access to major business groups and existing production facilities. - Highlights: • The support scheme is focused on the oversupplied integrated electricity market. • The scheme disregards the technical and economic potential in isolated areas. • The solar industry develops at the fastest rate, wind and small hydro lag behind. • Access to business groups and production facilities condition implementation. • The devaluation of the rouble necessitated a revision of the policy design.

Characterizing uncertain sea-level rise projections to support investment decisions.

Science.gov (United States)

Sriver, Ryan L; Lempert, Robert J; Wikman-Svahn, Per; Keller, Klaus

2018-01-01

Many institutions worldwide are considering how to include uncertainty about future changes in sea-levels and storm surges into their investment decisions regarding large capital infrastructures. Here we examine how to characterize deeply uncertain climate change projections to support such decisions using Robust Decision Making analysis. We address questions regarding how to confront the potential for future changes in low probability but large impact flooding events due to changes in sea-levels and storm surges. Such extreme events can affect investments in infrastructure but have proved difficult to consider in such decisions because of the deep uncertainty surrounding them. This study utilizes Robust Decision Making methods to address two questions applied to investment decisions at the Port of Los Angeles: (1) Under what future conditions would a Port of Los Angeles decision to harden its facilities against extreme flood scenarios at the next upgrade pass a cost-benefit test, and (2) Do sea-level rise projections and other information suggest such conditions are sufficiently likely to justify such an investment? We also compare and contrast the Robust Decision Making methods with a full probabilistic analysis. These two analysis frameworks result in similar investment recommendations for different idealized future sea-level projections, but provide different information to decision makers and envision different types of engagement with stakeholders. In particular, the full probabilistic analysis begins by aggregating the best scientific information into a single set of joint probability distributions, while the Robust Decision Making analysis identifies scenarios where a decision to invest in near-term response to extreme sea-level rise passes a cost-benefit test, and then assembles scientific information of differing levels of confidence to help decision makers judge whether or not these scenarios are sufficiently likely to justify making such investments

Investment appraisal of heat and power plants within an emissions trading scheme. Final Report of the INVIS Project

International Nuclear Information System (INIS)

Laurikka, H.; Pirilae, P.

2005-04-01

The opportunity cost for carbon dioxide (CO 2 ) emissions has become a new factor influencing investments in heat and power production capacity globally, and in particular in countries with a greenhouse gas emissions trading system, such as the European Union Emissions Trading Scheme (EU ETS). There is a considerable power capacity investment need in the coming decades in Finland, in Europe and globally. As the economic lifetime of an investment in heat and power capacity typically ranges from 20-40 years, 'carbon finance' and the EU ETS therefore introduce a considerable and fundamental price risk to the investment problem. In Europe, the price risk is present in all investments and divestments of power production licences or capacity, be it a green-field plant, a retrofit of an existing plant or an acquisition. The objective of the INVIS research project was to extend the knowledge on strategic implications of emissions trading in investments into heat and power generation. This report gives an overview on the main findings of the project. The focus of INVIS project was on (1) quantitative investment appraisal and (2) methods rather than tools or parameter values. Particular attention in the INVIS project was paid to the incorporation of emissions trading in new methods of investment appraisal, which aim at taking into account the value of real options, rights to postpone or revise decisions. The EU ETS modifies the quantitative investment appraisal of heat and power plants directly through the emission allowance price and the number of free allowances and indirectly through impacts on output prices, input prices, taxation, and subsidies. From the risk perspective, the most problematic impact seems to be the regulatory uncertainty in the number of free allowances, which can turn out to be a barrier for investment in fossil-fuel-fired thermal power plants - even combined-cycle gas turbines. The emission allowance price is a stochastic variable, which implies it is

Application of GIS in foreign direct investment decision support system

Science.gov (United States)

Zhou, Jianlan; Sun, Koumei

2007-06-01

It is important to make decisions on how to attract foreign direct investment (FDI) to China and know how the inequality of FDI introduction by locational different provinces. Following background descriptions on China's FDI economic environments and FDI-related policies, this paper demonstrates the uses of geographical information system (GIS) and multi-criterion decision-making (MCDM) framework in solving a spatial multi-objective problem of evaluating and ranking China's provinces for FDI introduction. It implements a foreign direct investment decision support system, which reveals the main determinants of FDI in China and gives some results of regional geographical analysis over spatial data.

Optimisation of Investment Resources at Small Enterprises

Directory of Open Access Journals (Sweden)

Shvets Iryna B.

2014-03-01

Full Text Available The goal of the article lies in the study of the process of optimisation of the structure of investment resources, development of criteria and stages of optimisation of volumes of investment resources for small enterprises by types of economic activity. The article characterises the process of transformation of investment resources into assets and liabilities of the balances of small enterprises and conducts calculation of the structure of sources of formation of investment resources in Ukraine at small enterprises by types of economic activity in 2011. On the basis of the conducted analysis of the structure of investment resources of small enterprises the article forms main groups of criteria of optimisation in the context of individual small enterprises by types of economic activity. The article offers an algorithm and step-by-step scheme of optimisation of investment resources at small enterprises in the form of a multi-stage process of management of investment resources in the context of increase of their mobility and rate of transformation of existing resources into investments. The prospect of further studies in this direction is development of a structural and logic scheme of optimisation of volumes of investment resources at small enterprises.

Using a group decision support system to make investment prioritisation decisions

OpenAIRE

Read, Martin; Gear, Tony; Minkes, Leonard; Irving, Ann

2013-01-01

This paper is concerned with how decision making groups involved in making investment prioritisation decisions involving funding of technology and science projects may be supported by a group decision support system (GDSS). While interested in decision outcomes, the primary focus of this paper is the role of a group support system as an aid to developing shared understanding within a group. The paper develops the conceptual framework of decision-making, communication and group support, and de...

A Review of the Case of a Levy-Grant Scheme (LGS) in the UK Construction Industry

Science.gov (United States)

Abdel-Wahab, Mohamed; Dainty, Andrew; Ison, Stephen

2010-01-01

A Levy-Grant Scheme (LGS) has existed in the UK construction industry since 1964 to provide financial support for companies undertaking training activities. Despite the support of the LGS for various training activities, notably apprenticeships, the construction industry continues to suffer from both labour shortages and an under-investment in…

Local Content Requirements in Renewable Energy Schemes - Government Procurement or a Violation of International Obligations?

NARCIS (Netherlands)

Verburg, Cornelis

2017-01-01

Numerous States have adopted renewable energy schemes aimed at incentivising investments in renewable energy generation capacity that contain local content requirements as an eligibility criterion to obtain support, such as a feed-in tariff. However, these requirements may violate the international

Risk-based assessment of the cost-efficiency and the effectivity of renewable energy support schemes: Certificate markets versus feed-in tariffs

International Nuclear Information System (INIS)

Fagiani, Riccardo; Barquín, Julián; Hakvoort, Rudi

2013-01-01

The introduction of renewable energy sources in the electricity generation mix has the potential to reduce power sector's emissions and countries' dependence on imported oil. Climate change concerns and highly volatile oil prices have attracted governments' interest and support to sustain investments in renewable energy capacity, and different support policies have been implemented in many countries around the world. This paper analyzes the effects of investors' risk aversion on the performance of support schemes. The analysis compares two policy options, a feed-in tariff mechanism with a certificate market system. Results show that while a tariff mechanism could obtain better results than a certificate market, its performance is strictly dependent on regulator choices. A certificate market instead, permits to obtain the desired level of renewable energy market share with good cost-efficiency as long as investors' risk aversion is moderate. Moreover, discounting future cash flows with higher social discount rates further benefits a certificate system making it preferable to feed-in tariffs. - Highlights: ► Paper analyzes the performance of feed-in tariffs and certificate markets. ► Model simulates the evolution of a power system considering investors' risk aversion. ► Tariffs could obtain better efficiency but also low effectiveness or over-investment. ► Barriers to entrance could result in higher certificates prices. ► Certificate performances benefit from higher social discount rates

Concerted actions to support investments exploiting low-enthalpy geothermal energy

International Nuclear Information System (INIS)

Catsis, P.; Papadopoulou, A.; Petrogona-Emmanouil, E.

1996-01-01

A brief outline is presented of the project 'Information and support to investors for establishment of plants exploiting geothermal energy' co-financed by the Directorate General for Energy of the European Commission in the context of ALTENER programme for promotion of renewable energy sources. The basic supporting products of this project are: 1) Information Guide on the Geothermal Energy Exploitation Possibilities in Greece: 2) Investment Guide for the Use of Geothermal Energy in Productive Activities in Greece: 3) A convenient and user-friendly software GAIN (Microsoft Access 2.0)) for designing and economic evaluation of investments for an 'ideal' geothermal plant . The following steps are executed by GAIN: representation of the entire plant; determination of the size and energy requirements of each respective uses; determination of the type of application installations (heating system); determination of equipment needed for the geothermal plant: series of calculations for economic evaluation. In addition, some organizational measures as training of personnel, demonstration activities, conferences etc. are also foreseen in the programme

Characterizing uncertain sea-level rise projections to support investment decisions

Science.gov (United States)

Lempert, Robert J.; Wikman-Svahn, Per; Keller, Klaus

2018-01-01

Many institutions worldwide are considering how to include uncertainty about future changes in sea-levels and storm surges into their investment decisions regarding large capital infrastructures. Here we examine how to characterize deeply uncertain climate change projections to support such decisions using Robust Decision Making analysis. We address questions regarding how to confront the potential for future changes in low probability but large impact flooding events due to changes in sea-levels and storm surges. Such extreme events can affect investments in infrastructure but have proved difficult to consider in such decisions because of the deep uncertainty surrounding them. This study utilizes Robust Decision Making methods to address two questions applied to investment decisions at the Port of Los Angeles: (1) Under what future conditions would a Port of Los Angeles decision to harden its facilities against extreme flood scenarios at the next upgrade pass a cost-benefit test, and (2) Do sea-level rise projections and other information suggest such conditions are sufficiently likely to justify such an investment? We also compare and contrast the Robust Decision Making methods with a full probabilistic analysis. These two analysis frameworks result in similar investment recommendations for different idealized future sea-level projections, but provide different information to decision makers and envision different types of engagement with stakeholders. In particular, the full probabilistic analysis begins by aggregating the best scientific information into a single set of joint probability distributions, while the Robust Decision Making analysis identifies scenarios where a decision to invest in near-term response to extreme sea-level rise passes a cost-benefit test, and then assembles scientific information of differing levels of confidence to help decision makers judge whether or not these scenarios are sufficiently likely to justify making such investments

Characterizing uncertain sea-level rise projections to support investment decisions.

Directory of Open Access Journals (Sweden)

Ryan L Sriver

Full Text Available Many institutions worldwide are considering how to include uncertainty about future changes in sea-levels and storm surges into their investment decisions regarding large capital infrastructures. Here we examine how to characterize deeply uncertain climate change projections to support such decisions using Robust Decision Making analysis. We address questions regarding how to confront the potential for future changes in low probability but large impact flooding events due to changes in sea-levels and storm surges. Such extreme events can affect investments in infrastructure but have proved difficult to consider in such decisions because of the deep uncertainty surrounding them. This study utilizes Robust Decision Making methods to address two questions applied to investment decisions at the Port of Los Angeles: (1 Under what future conditions would a Port of Los Angeles decision to harden its facilities against extreme flood scenarios at the next upgrade pass a cost-benefit test, and (2 Do sea-level rise projections and other information suggest such conditions are sufficiently likely to justify such an investment? We also compare and contrast the Robust Decision Making methods with a full probabilistic analysis. These two analysis frameworks result in similar investment recommendations for different idealized future sea-level projections, but provide different information to decision makers and envision different types of engagement with stakeholders. In particular, the full probabilistic analysis begins by aggregating the best scientific information into a single set of joint probability distributions, while the Robust Decision Making analysis identifies scenarios where a decision to invest in near-term response to extreme sea-level rise passes a cost-benefit test, and then assembles scientific information of differing levels of confidence to help decision makers judge whether or not these scenarios are sufficiently likely to justify making

Dutch Energy Investment Allowance (EIA). Energy List for 2013; Energie-investeringsaftrek (EIA). Energielijst 2013

Energy Technology Data Exchange (ETDEWEB)

NONE

2013-01-15

The Energy Investment Allowance (EIA) is a tax system by means of which the Dutch government supports companies with investments in energy-saving equipment and renewable energy. This brochure explains the assets eligible for EIA and how the scheme works [Dutch] De Energie-investeringsaftrek (EIA) is een fiscale regeling waarmee de overheid ondersteuning biedt voor bedrijven bij investeringen in energiebesparende bedrijfsmiddelen en duurzame energie. In deze brochure wordt uitgelegd welke bedrijfsmiddelen in aanmerking komen voor EIA en hoe de regeling werkt.

Optimization as investment decision support in a Swedish medium-sized iron foundry - A move beyond traditional energy auditing

International Nuclear Information System (INIS)

Thollander, Patrik; Mardan, Nawzad; Karlsson, Magnus

2009-01-01

Due to increased globalisation, industries are facing greater competition that is pressing companies into decreasing their expenses in order to increase their profits. As regards Swedish industry, it has been faced with substantial increases in energy prices in recent years. Barriers to energy efficiency such as imperfect information inhibit investments in energy efficiency measures, energy audits being one means of reducing barriers and overcoming imperfect information. However, an evaluation of such energy audits in Sweden reveals that it is chiefly low-cost measures that are undertaken as a result of an audit. Moreover, these audits often tend to focus on support processes such as ventilation, lighting, air compressors etc., while measures impacting production processes are often not as extensively covered, which underlines the need for further support in addition to energy audits. Decision support is practised in a variety of different disciplines such as optimization and simulation and the aim of this paper is to explore whether investment decision support practices may be used successfully towards small and medium-sized manufacturers in Sweden when complex production-related investment decisions are taken. The optimization results from the different cases, involving a foundry's investment in a new melting unit, indicate that with no electricity price fluctuations over the day, the investment seems sound as it lowers the overall energy costs. However, with fluctuating electricity prices, there are no large differences in energy costs between the option of retaining the existing five melting furnaces at the foundry and investing in a twin furnace and removing the holding furnaces - which was the initial investment plan for the foundry in the study. It would not have been possible to achieve this outcome without the use of investment decision support such as MIND. One of the main conclusions in this paper is that investment decision support, when strategic

QoS Support Polling Scheme for Multimedia Traffic in Wireless LAN MAC Protocol

Institute of Scientific and Technical Information of China (English)

YANG Zhijun; ZHAO Dongfeng

2008-01-01

Quality of service (QoS) support is a key attribute for multimedia traffic including video, voice, and data in wireless local area networks (LANs) but is limited in 802.11-based wireless LANs. A polling-based scheme called the point coordination function (PCF) was developed for 802.11 LANs to support the trans-mission of multimedia traffic. However, the PCF is not able to meet the desired practical traffic differentiation requirements for real-time data. This paper describes a QoS support polling scheme based on the IEEE 802.11 medium access control (MAC) protocol. The scheme uses a two-level polling mechanism with the QoS classes differentiated by two different access policies. Stations with higher priority traffic such as key or real-time data form the first level and can access the common channel through an exhaustive access policy. Other stations with lower priority traffic form the second level and can access the channel through a gated access policy. A system model based on imbedded Markov chain theory and a generation function were setup to explicitly analyze the mean information packet waiting time of the two-level polling scheme. Theo-retical and simulation results show that the new scheme efficiently differentiates services to guarantee better QoS and system stability.

Assessing survivability to support power grid investment decisions

International Nuclear Information System (INIS)

Koziolek, Anne; Avritzer, Alberto; Suresh, Sindhu; Menasché, Daniel S.; Diniz, Morganna; Souza e Silva, Edmundo de; Leão, Rosa M.; Trivedi, Kishor; Happe, Lucia

2016-01-01

The reliability of power grids has been subject of study for the past few decades. Traditionally, detailed models are used to assess how the system behaves after failures. Such models, based on power flow analysis and detailed simulations, yield accurate characterizations of the system under study. However, they fall short on scalability. In this paper, we propose an efficient and scalable approach to assess the survivability of power systems. Our approach takes into account the phased-recovery of the system after a failure occurs. The proposed phased-recovery model yields metrics such as the expected accumulated energy not supplied between failure and full recovery. Leveraging the predictive power of the model, we use it as part of an optimization framework to assist in investment decisions. Given a budget and an initial circuit to be upgraded, we propose heuristics to sample the solution space in a principled way accounting for survivability-related metrics. We have evaluated the feasibility of this approach by applying it to the design of a benchmark distribution automation circuit. Our empirical results indicate that the combination of survivability and power flow analysis can provide meaningful investment decision support for power systems engineers. - Highlights: • We propose metrics and models for scalable survivability analysis of power systems. • The survivability model captures the system phased-recovery, from failure to repair. • The survivability model is used as a building block of an optimization framework. • Heuristics assist in investment options accounting for survivability-related metrics.

Irrigation Water Value at Small-scale Schemes: Evidence from the North West Province, South Africa

NARCIS (Netherlands)

Speelman, S.; Farolfi, S.; Perret, S.; Haese, D' L.; Haese, D' M.

2008-01-01

Insight into the value of water is essential to support policy decision making about investments in the water sector, efficient allocation of water and water pricing. However, information on irrigation water values at small-scale schemes is scarce and in general little attention is paid to the

The Investment Environment for Renewable Energy Development in Lithuania: The Electricity Sector

Directory of Open Access Journals (Sweden)

Milčiuvienė Saulė

2014-06-01

Full Text Available The article analyzes the investment environment in renewable electricity generation capacities, evaluating the credibility of long term renewable energy targets, the stability of promotion schemes and the impartiality of national administrative procedure. The article explores two main questions: (i are the EU and Lithuanian energy policy targets and promotion schemes credible enough to convince private investors to put their money in renewable energy development; (ii does national administrative procedure put a disproportional burden on renewable energy investors or on certain group of investors? The assessment of the investment environment includes a large number of criteria, but we analyze three of them: the stability of long term strategy; the attractiveness of promotionmeasures; and the simplicity and transparency of administrative procedure. Two further criteria are investigated: the stability of targets in renewable energy and the stability of promotional measures. The greatest uncertainty for investors occurs because of constantly changing support schemes of renewable energy sources-schemes that are not harmonized among the member States. At the national level the main driver in the development of small generators is the feed-in tariff. However, the high feed-in tariff does not always guarantee the smooth development of small scale generators of renewable energy.

A comparison of modern investment-linked pension savings products

DEFF Research Database (Denmark)

Linneman, Per; Bruhn, Kenneth; Steffensen, Mogens

2015-01-01

price changes in the financial market. Our results show that not only investment profiles define the stability of annuity benefits over time. In addition, more fundamental elements of the product design are important. The perspective on product design and development is Danish, but two of the compared......This paper is a continuation of and a supplement to the paper by Jørgensen & Linnemann. Both papers deal with TimePension – a (formula-based) smoothed investment-linked annuity pension scheme. Both papers compare TimePension with other pension savings products using stochastic financial simulation....... TimePension as well as the financial model and simulation concept being used in both papers were introduced in the paper op cit. Jørgensen & Linnemann compare TimePension with a traditional with-profits scheme involving bonus entitlement and an investment-linked Unit Link scheme with a fixed proportion...

Revisiting support policies for RES-E adulthood: Towards market compatible schemes

International Nuclear Information System (INIS)

Huntington, Samuel C.; Rodilla, Pablo; Herrero, Ignacio; Batlle, Carlos

2017-01-01

The past two decades of growth in renewable energy sources of electricity (RES-E) have been largely driven by out-of-market support policies. These schemes were designed to drive deployment on the basis of specific subsidies sustained in time to allow for the larger costs as well as to limit investor risk. While these policies have proven to be effective, the way they have been designed to date has led to costly market distortions that are becoming more difficult to ignore as penetrations reach unpreceded levels. In the context of this growing concern, we provide a critical analysis of the design elements of RES-E support schemes, focusing on how they affect this trade-off between promoting and efficiently integrating RES-E. The emphasis is on the structure of the incentive payment, which in the end turns to be the cornerstone for an efficient integration. We conclude that, while needed, a well-designed and further developed capacity-based support mechanism complemented with ex-post compensations defined for reference benchmark plants, such as the mechanism currently implemented in Spain, is an alternative with good properties if the major goal is truly market integration. The approach is robust to future developments in technology cost, performance and market penetration of RES-E. - Highlights: • Market distortions due to RES support mechanisms are becoming difficult to ignore. • This paper provides a critical analysis of the design elements of RES support schemes. • The emphasis is on the structure of the incentive, key for an efficient integration. • We argue in favor of a further developed capacity-based support mechanism. • The incentive should be combined with the design of a set of reference plants.

Initial investment to 3D printing technologies in a construction company

OpenAIRE

Cernohorsky, Zdenek; Matejka, Petr

2017-01-01

This article deals with an initial investment to 3D printing technologies in a construction company. The investment refers to the use of building information models and their integration with 3D printing technology within a construction company. In the first part, there will be discussed an introduction of 3D printing scheme in a construction company from a lifecycle perspective in general. As a part of this scheme, the ideal variant of an initial investment will be considered a.k.a a pilot p...

Design, Implementation, and Performance Evaluation of Efficient PMIPv6 Based Mobile Multicast Sender Support Schemes

Directory of Open Access Journals (Sweden)

Lili Wang

2015-01-01

Full Text Available Proxy Mobile IPv6 (PMIPv6 is proposed as a promising network-based mobility management protocol, which does not need any participation of mobile nodes. PMIPv6 does not support the multicast well and most of the current research concentrates on the mobile multicast receiver. However, the mobile multicast sender is also very important and challenging, which has not been addressed well. Therefore, in this paper we propose two efficient PMIPv6 based mobile multicast sender support schemes which are PMIP bidirectional tunneling (PMIP-BT and PMIP direct routing (PMIP-DR. In the PMIP-BT, the multicast traffic can be delivered through the PMIPv6 bidirectional tunnel, while, in the PMIP-DR, the multicast data can be transmitted via an optimized direct multicast routing. Both of them can support the multicast sender mobility transparently enabled in the PMIPv6 networks. We evaluate the performance of the proposed schemes by theoretical analysis, and the numerical results show that the proposed schemes have a better performance in terms of the signaling cost than the current schemes. Meanwhile, the proposed schemes are also implemented on the test bed, and the experimental results not only verify the validity and feasibility of our proposed schemes, but also conclude the different scenarios to which they are applicable.

LoWMob: Intra-PAN Mobility Support Schemes for 6LoWPAN.

Science.gov (United States)

Bag, Gargi; Raza, Muhammad Taqi; Kim, Ki-Hyung; Yoo, Seung-Wha

2009-01-01

Mobility in 6LoWPAN (IPv6 over Low Power Personal Area Networks) is being utilized in realizing many applications where sensor nodes, while moving, sense and transmit the gathered data to a monitoring server. By employing IEEE802.15.4 as a baseline for the link layer technology, 6LoWPAN implies low data rate and low power consumption with periodic sleep and wakeups for sensor nodes, without requiring them to incorporate complex hardware. Also enabling sensor nodes with IPv6 ensures that the sensor data can be accessed anytime and anywhere from the world. Several existing mobility-related schemes like HMIPv6, MIPv6, HAWAII, and Cellular IP require active participation of mobile nodes in the mobility signaling, thus leading to the mobility-related changes in the protocol stack of mobile nodes. In this paper, we present LoWMob, which is a network-based mobility scheme for mobile 6LoWPAN nodes in which the mobility of 6LoWPAN nodes is handled at the network-side. LoWMob ensures multi-hop communication between gateways and mobile nodes with the help of the static nodes within a 6LoWPAN. In order to reduce the signaling overhead of static nodes for supporting mobile nodes, LoWMob proposes a mobility support packet format at the adaptation layer of 6LoWPAN. Also we present a distributed version of LoWMob, named as DLoWMob (or Distributed LoWMob), which employs Mobility Support Points (MSPs) to distribute the traffic concentration at the gateways and to optimize the multi-hop routing path between source and destination nodes in a 6LoWPAN. Moreover, we have also discussed the security considerations for our proposed mobility schemes. The performance of our proposed schemes is evaluated in terms of mobility signaling costs, end-to-end delay, and packet success ratio.

LoWMob: Intra-PAN Mobility Support Schemes for 6LoWPAN

Directory of Open Access Journals (Sweden)

Seung-Wha Yoo

2009-07-01

Full Text Available Mobility in 6LoWPAN (IPv6 over Low Power Personal Area Networks is being utilized in realizing many applications where sensor nodes, while moving, sense and transmit the gathered data to a monitoring server. By employing IEEE802.15.4 as a baseline for the link layer technology, 6LoWPAN implies low data rate and low power consumption with periodic sleep and wakeups for sensor nodes, without requiring them to incorporate complex hardware. Also enabling sensor nodes with IPv6 ensures that the sensor data can be accessed anytime and anywhere from the world. Several existing mobility-related schemes like HMIPv6, MIPv6, HAWAII, and Cellular IP require active participation of mobile nodes in the mobility signaling, thus leading to the mobility-related changes in the protocol stack of mobile nodes. In this paper, we present LoWMob, which is a network-based mobility scheme for mobile 6LoWPAN nodes in which the mobility of 6LoWPAN nodes is handled at the network-side. LoWMob ensures multi-hop communication between gateways and mobile nodes with the help of the static nodes within a 6LoWPAN. In order to reduce the signaling overhead of static nodes for supporting mobile nodes, LoWMob proposes a mobility support packet format at the adaptation layer of 6LoWPAN. Also we present a distributed version of LoWMob, named as DLoWMob (or Distributed LoWMob, which employs Mobility Support Points (MSPs to distribute the traffic concentration at the gateways and to optimize the multi-hop routing path between source and destination nodes in a 6LoWPAN. Moreover, we have also discussed the security considerations for our proposed mobility schemes. The performance of our proposed schemes is evaluated in terms of mobility signaling costs, end-to-end delay, and packet success ratio.

Joint Support and Efficient Offshore Investment: Market and Transmission Connection Barriers and Solutions

DEFF Research Database (Denmark)

Schröder, Sascha Thorsten; Kitzing, Lena; Klinge Jacobsen, Henrik

2012-01-01

Different support schemes are applied for the promotion of renewable energy sources in EU Member States. Current EU legislation opens opportunities for international cooperation to achieve national renewable targets more efficiently, either by statistical transfers, joint projects or joint support...

Yellow light for green scheme

International Nuclear Information System (INIS)

Morch, Stein

2004-01-01

The article asserts that there could be an investment boom for wind, hydro and bio power in a common Norwegian-Swedish market scheme for green certificates. The Swedish authorities are ready, and the Norwegian government is preparing a report to the Norwegian Parliament. What are the ambitions of Norway, and will hydro power be included? A green certificate market common to more countries have never before been established and requires the solution of many challenging problems. In Sweden, certificate support is expected to promote primarily bioenergy, wind power and small-scale hydro power. In Norway there is an evident potential for wind power, and more hydro power can be developed if desired

Post-modern portfolio theory supports diversification in an investment portfolio to measure investment's performance

OpenAIRE

Rasiah, Devinaga

2012-01-01

This study looks at the Post-Modern Portfolio Theory that maintains greater diversification in an investment portfolio by using the alpha and the beta coefficient to measure investment performance. Post-Modern Portfolio Theory appreciates that investment risk should be tied to each investor's goals and the outcome of this goal did not symbolize economic of the financial risk. Post-Modern Portfolio Theory's downside measure generated a noticeable distinction between downside and upside volatil...

Biomass Power Generation Investment in China: A Real Options Evaluation

Directory of Open Access Journals (Sweden)

Mingming Zhang

2016-06-01

Full Text Available This paper proposes a real options model for evaluating the biomass power generation investment in China. The uncertainties in the market price of electricity, CO2 price and straw price are considered. Meanwhile the dynamic relationship between installed capacity and fuel cost, as well as the long-term reduction of subsidy are described. Two scenarios, i.e., with the carbon emission trading scheme existent and non-existent, respectively, is built to empirically analyze the investment of a 25-MW straw-based power generation project. The results show that investors should undertake the investment in 2030 under two scenarios. Investment values are 14,869,254.8 and 37,608,727 Chinese Yuan (RMB, respectively. The implementation of the carbon emission trading scheme theoretically helps improve investment value and advance the most likely optimal investment time. However, the current CO2 price is not sufficient to advance the most likely optimal investment time. The impacts of several factors, including subsidy policy, CO2 price, straw price, installed capacity, correlation structure and the validity period of investment, on the optimal investment strategy are also examined. It is suggested that governments take some measures, including increasing subsidy, setting the growth pattern of subsidy and establishing and perfecting a nationwide carbon trading market, to improve the investment environment and attract more investments.

Industrial energy efficiency: the need for investment decision support from a manager perspective

International Nuclear Information System (INIS)

Sandberg, Peter; Soederstroem, Mats

2003-01-01

Global competition, commitment to the Kyoto Protocol and a deregulated, integrated European electricity market will in all probability increase the demand for energy efficiency on the part of companies in Sweden. Investment decisions are an important part of meeting the new demands, because they decide the future efficiency of industrial energy systems. The objective of this study is to investigate, from a managerial perspective, the need to improve decision support in some industries, which can help to facilitate and improve investment decisions concerning energy efficiency. This work has been conducted through in-depth interviews with representatives for a number of energy-intensive companies and non-energy-intensive companies from different sectors. One need that was identified was the improvement of working methods in order to support the decision-making process. Here, external players seem to be playing an increasingly important role. Access to correct information, better follow-up activities, and transparent, understandable calculations are also considered to be important. The study will form the foundation for subsequent work on decision support and energy efficiency in industry

Modeling regulated water utility investment incentives

Science.gov (United States)

Padula, S.; Harou, J. J.

2014-12-01

This work attempts to model the infrastructure investment choices of privatized water utilities subject to rate of return and price cap regulation. The goal is to understand how regulation influences water companies' investment decisions such as their desire to engage in transfers with neighbouring companies. We formulate a profit maximization capacity expansion model that finds the schedule of new supply, demand management and transfer schemes that maintain the annual supply-demand balance and maximize a companies' profit under the 2010-15 price control process in England. Regulatory incentives for costs savings are also represented in the model. These include: the CIS scheme for the capital expenditure (capex) and incentive allowance schemes for the operating expenditure (opex) . The profit-maximizing investment program (what to build, when and what size) is compared with the least cost program (social optimum). We apply this formulation to several water companies in South East England to model performance and sensitivity to water network particulars. Results show that if companies' are able to outperform the regulatory assumption on the cost of capital, a capital bias can be generated, due to the fact that the capital expenditure, contrarily to opex, can be remunerated through the companies' regulatory capital value (RCV). The occurrence of the 'capital bias' or its entity depends on the extent to which a company can finance its investments at a rate below the allowed cost of capital. The bias can be reduced by the regulatory penalties for underperformances on the capital expenditure (CIS scheme); Sensitivity analysis can be applied by varying the CIS penalty to see how and to which extent this impacts the capital bias effect. We show how regulatory changes could potentially be devised to partially remove the 'capital bias' effect. Solutions potentially include allowing for incentives on total expenditure rather than separately for capex and opex and allowing

Nigerian banking sector Equity Investment Scheme in small and ...

African Journals Online (AJOL)

Whilst these government-led initiatives have been implemented through banking sector intermediation, they have largely failed to achieve their purpose for a number of reasons. In an effort to complement government's initiatives, the Nigerian banking sector introduced the small and medium enterprises equity investment ...

Investment incentives, corporate taxation, and efficiency in the allocation of capital

Energy Technology Data Exchange (ETDEWEB)

Boadway, R

1978-09-01

The author shows that, within the strict confines of the neoclassical theory of investment, investment allowances and tax credits on gross investment over and above regular depreciation are efficient investment incentives in the sense that they do not distort the allocation of capital over investments of differing durabilities. Initial allowances, tax credits on net investments, tax credits on gross investment which are set against depreciation, and interest subsidies all distort investment decisions in favor of longer-lived investments. Accelerated depreciation schemes are generally distortionary as well, with the nature of the distortion depending upon how the tax depreciation rate is defined.

Investment incentives in the Korean electricity market

International Nuclear Information System (INIS)

Park, Jung-Yeon; Ahn, Nam-Sung; Yoon, Yong-Beum; Koh, Kyung-Ho; Bunn, Derek W.

2007-01-01

This paper develops a model-based analysis of the effects of various capacity incentive systems on new investment in the Korean electricity market. The restructuring process in Korea allocated power generation to six firms, competing within a wholesale market, albeit strictly on a cost basis. Because of this cost-based pool, capacity payments were also introduced to encourage new investment. However, it is an open question whether the current fixed capacity payment scheme is enough to secure resource adequacy, and consideration is being given to alternative mechanisms such as the use of LOLP. Using a detailed market simulation model, based on system dynamics, we compare these approaches in terms of how they may influence the investors' decisions and thereby determine the system reserve margin. The simulation results suggest that there may be serious problems in staying with the current fixed capacity payments in order to achieve resource adequacy. In contrast, an LOLP-based capacity mechanism may, in the longer term, increase the reserve margin compared with a fixed capacity payment. More generally, this paper indicates how crucial the effective modeling of the investment behavior of the independent power producers is for adequate policy support, even if they only constitute a fringe in a substantially centrally influenced market

Atlantis Water Supply Scheme (AWSS) artificial recharge scientific and operational support

CSIR Research Space (South Africa)

Jovanovic, Nebojsa

2012-10-01

Full Text Available Scheme (AWSS) artifi cial recharge scientifi c and operational support N JOVANOVIC1, RDH BUGAN1, S ISRAEL1, C PETERSEN1, B GENTHE1, M STEYN1, G TREDOUX1, D ALLPASS2, R BISHOP2, V MARINUS2, P FLOWER2, 1CSIR, Natural Resources and Environment...

Decentralization Policies for Supply Chain Investments under Asymmetric Information

DEFF Research Database (Denmark)

Agrell, Per Joakim; Bogetoft, Peter

2017-01-01

Supply chains need specific investments for improved performance in terms of lead-time, cost, and quality. We study the contractual choice of a coordinator to either centralize or delegate the investment decision in a three-stage chain. The analysis derives closed-form results for the economic...... performance of three decentralized contracting schemes under asymmetric information on investment cost, as well as the optimal full revelation results. The results show that the observed practice of tier-1 delegated investments leads to relatively poor performance because of underinvestment. We illustrate...

Energy auditing in connection with subsidy schemes for energy saving investments

Energy Technology Data Exchange (ETDEWEB)

Broend, Evald

1979-07-01

A review of the energy situation in Denmark is presented. Government subsidies for investments aiding projects aimed at reducing process energy consumption are discussed. The law serves as an incentive for the implementation of energy saving measures which would not otherwise be carried out because they would not be sufficiently economic. Subsidies of up to 40% of the amount invested are available. The special form of energy auditing carried out on the part of society concerning industrial energy consumption and some idea of how energy auditing is practiced in the individual enterprise are discussed.

A VR Based Interactive Genetic Algorithm Framework For Design of Support Schemes to Deep Excavations

International Nuclear Information System (INIS)

Wei, Riyu; Wu, Heng

2002-01-01

An interactive genetic algorithm (IGA) framework for the design of support schemes to deep excavations is proposed in this paper, in which virtual reality (VR) is used as an aid to the evaluation of design schemes that is performed interactively. The fitness of a scheme individual is evaluated by two steps. Firstly a fitness value is automatically assigned to a scheme individual according to the the estimated construction cost of the individual. And the human evaluation is introduced to modify the fitness value by taking into account other factors, such as the feasibility factor. The design scheme is composed of four basic categories, i. e., cantilever walls, reinforced soil walls, tieback systems and bracing systems, each of which is encoded by a binary string. To assist human evaluation, 3D models of design schemes are created and visualized in a virtual reality environment, providing designers with a reality sense of various schemes

Predicting the filial behaviors of Chinese-Malaysian adolescents from perceived parental investments, filial emotions, and parental warmth and support.

Science.gov (United States)

Cheah, Charissa S L; Bayram Özdemir, Sevgi; Leung, Christy Y Y

2012-06-01

The present study examined the mediating role of perceived parental warmth and support in predicting Chinese Malaysian adolescents' filial behaviors from their age, perceived parental investments, and positive filial emotions toward their parents. The effects of these predictors were examined separately for mothers and fathers. Participants included 122 Chinese adolescents (M = 13.14 years; SD = 2.22) in Malaysia. Adolescents' perceived parental investments, filial emotions, and warmth and support from each parent were positively, and age was negatively associated with their filial behaviors. No gender differences were found. Perceived maternal warmth and support significantly mediated the effect of age, perceived investments from, and filial emotions toward mothers on adolescents' filial behaviors, but perceived paternal warmth and support did not have a mediating role. The present study sheds light on the unique maternal versus paternal filial role, and important familial processes in Chinese-Malaysian children and adolescents from a cultural perspective. Published by Elsevier Ltd.

Defining Investment Additionality for CDM projects - practical approaches

International Nuclear Information System (INIS)

Greiner, Sandra; Michaelowa, Axel

2003-01-01

The environmental integrity of the CDM under the Kyoto Protocol depends on the possibility to avoid giving emission credits to projects that would have happened anyway. Whether and how 'Investment Additionality' of CDM projects has to be determined is currently a part of climate negotiations. We discuss the rationale of companies to invest in projects and analyse possible criteria to determine Investment Additionality from a theoretical point of view. Differences in the type of investment call for the application of different criteria. Although some criteria are better than others, no single criterion can outweigh the others in all respects. We therefore suggest a scheme for additionality testing that aims at matching types of investment and criteria in a sensible way. Criteria are evaluated on the grounds of robustness to manipulation, degree of coverage and appropriateness for testing the investment decision under consideration

A decision-support scheme for mapping endangered areas in pest risk analysis

NARCIS (Netherlands)

Baker, R.H.A.; Benninga, J.; Bremmer, J.; Brunel, S.; Dupin, M.; Eyre, D.; Ilieva, Z.; Jarosik, V.; Kehlenbeck, H.; Kriticos, D.J.; Makowski, D.; Pergl, J.; Reynaud, P.; Robinet, C.; Soliman, T.; Werf, van der W.; Worner, S.

2012-01-01

This paper describes a decision-support scheme (DSS) for mapping the area where economically important loss is likely to occur (the endangered area). It has been designed by the PRATIQUE project to help pest risk analysts address the numerous risk mapping challenges and decide on the most suitable

Towards Public Key Encryption Scheme Supporting Equality Test with Fine-Grained Authorization

NARCIS (Netherlands)

Tang, Qiang

2011-01-01

In this paper we investigate a new category of public key encryption schemes which supports equality test between ciphertexts. With this new primitive, two users, who possess their own public/private key pairs, can issue token(s) to a proxy to authorize it to perform equality test between their

Water2Invest: Global facility for calculating investments needed to bridge the climate-induced water gap

Science.gov (United States)

Straatsma, Menno; Droogers, Peter; Brandsma, Jairus; Buytaert, Wouter; Karssenberg, Derek; Meijer, Karen; van Aalst, Maaike; van Beek, Rens; Wada, Yoshihide; Bierkens, Marc

2013-04-01

Decision makers responsible for climate change adaptation investments are confronted with large uncertainties regarding future water availability and water demand, as well as the investment cost required to reduce the water gap. Moreover, scientists have worked hard to increase fundamental knowledge on climate change and its impacts (climate services), while practical use of this knowledge is limited due to a lack of tools for decision support under uncertain long term future scenarios (decision services). The Water2Invest project aims are to (i) assess the joint impact of climate change and socioeconomic change on water scarcity, (ii) integrate impact and potential adaptation in one flow, (iii) prioritize adaptation options to counteract water scarcity on their financial, regional socio-economic and environmental implications, and (iv) deliver all this information in an integrated user-friendly web-based service. Global water availability is computed between 2006 and 2100 using the PCR-GLOBWB water resources model at a 6 minute spatial resolution. Climate change scenarios are based on the fifth Assessment Report (AR5) of the IPCC Coupled Model Intercomparison Project (CMIP5) that defines four CO2 emission scenarios as representative concentration pathways. Water demand is computed for agriculture, industry, domestic, and environmental requirements based on socio-economic scenarios of increase in population and gross domestic product. Using a linear programming algorithm, water is allocated on a monthly basis over the four sectors. Based on these assessments, the user can evaluate various technological and infrastructural adaptation measures to assess the investments needed to bridge the future water gap. Regional environmental and socioeconomic effects of these investments are evaluated, such as environmental flows or downstream effects. A scheme is developed to evaluate the strategies on robustness and flexibility under climate change and scenario uncertainty

Good governance for pension schemes

CERN Document Server

Thornton, Paul

2011-01-01

Regulatory and market developments have transformed the way in which UK private sector pension schemes operate. This has increased demands on trustees and advisors and the trusteeship governance model must evolve in order to remain fit for purpose. This volume brings together leading practitioners to provide an overview of what today constitutes good governance for pension schemes, from both a legal and a practical perspective. It provides the reader with an appreciation of the distinctive characteristics of UK occupational pension schemes, how they sit within the capital markets and their social and fiduciary responsibilities. Providing a holistic analysis of pension risk, both from the trustee and the corporate perspective, the essays cover the crucial role of the employer covenant, financing and investment risk, developments in longevity risk hedging and insurance de-risking, and best practice scheme administration.

Initial investment to 3D printing technologies in a construction company

Directory of Open Access Journals (Sweden)

Cernohorsky, Zdenek

2017-06-01

Full Text Available This article deals with an initial investment to 3D printing technologies in a construction company. The investment refers to the use of building information models and their integration with 3D printing technology within a construction company. In the first part, there will be discussed an introduction of 3D printing scheme in a construction company from a lifecycle perspective in general. As a part of this scheme, the ideal variant of an initial investment will be considered a.k.a a pilot project. In the second part, there will be a more detailed discussion of the pilot project, more about each activities which should be its parts and which should analyze cost categories. These categories will be about particular lifecycle stages of the pilot project. In the third part, a summary is done. This article could be a handout for a construction company in a term of an initial investment to 3D printing.

Supply chain relationships, supplier support programs and stimulating on-farm investment: evidence from the Armenian dairy sector

NARCIS (Netherlands)

Dries, L.K.E.; Gorton, M.; Urutyan, V.; White, J.

2014-01-01

Purpose – The purpose of this paper is to evaluate the determinants of supply chain relationships, the provision of supplier support measures and the role that support measures play in stimulating investment by suppliers in emerging economies. Design/methodology/approach – The paper draws on survey

Overlapping carbon pricing and renewable support schemes under political uncertainty: Global lessons from an Australian case study

International Nuclear Information System (INIS)

Shahnazari, Mahdi; McHugh, Adam; Maybee, Bryan; Whale, Jonathan

2017-01-01

Highlights: •Uncertainty over overlapping energy and climate policies affects investment choices. •An integrated real options and portfolio optimisation model is used in a case study. •Interacting carbon pricing and renewable supports can create private and social hedge. •Political uncertainty may justify overlapping carbon pricing and renewable supports. -- Abstract: The translation of a greenhouse gas (GHG) emissions reduction policy objective to the required investment in low emissions technologies may be hindered by political contest over the policy instruments employed to achieve it. Political contest may also result in enactment of overlapping policy instruments which, from a ‘policy purist’ perspective, may not appear well calibrated to a shared GHG emissions reduction objective. This paper reports insights gained from an integrated real options and portfolio optimisation model of electricity generation investment behaviour under political uncertainty over the futures of interacting carbon pricing and renewable portfolio standard (RPS) instruments. We compare modelling results and actual outcomes in Australia, where an emission reduction target has had bipartisan support but the means to achieve it has not, to test the assertion that overlapping policy instruments must always increase the social costs of GHG abatement. Results suggest that overlapping a politically contested carbon pricing policy with an RPS may result in a lower risk, renewable energy (RE) investment environment, as the overlap allows investors to hedge their portfolio against political uncertainty through RE additions. Consequently, GHG abatement objectives may be achieved at lower cost than would be the case without the policy interaction. The policies overlap can provide a ‘safety valve’ or ‘hedge’ to both private investors and policymakers when deep uncertainties over the future of energy and climate policies influence investment strategies.

State Support for Promotion of Electrical Energy Produced in High Efficiency Cogeneration in Romania

Directory of Open Access Journals (Sweden)

Mushatescu V.

2016-12-01

Full Text Available Romania accumulated a useful experience in supporting high efficient cogeneration through a bonus type scheme. Spreading this experience to other countries that can choose a similar support scheme could lead to important savings and better results in developing this efficient tool. This state aid is operational, targeted to new investments stimulation for cogeneration technologies and replacement or existing plants rehabilitation. Present paper focuses on the results of support scheme after five years of its application: increase of number of producers who benefit of this aid, raising of general efficiency of high efficient cogeneration, important savings of primary energy and CO2 emissions avoided. On the other hand, use of this scheme showed a number of problems (to which this paper proposes adequate solutions on institutional/administrative, investition, technical, economical-financial and social frameworks that influences beneficiaries and/or financiers of state aid.

Informational support of the investment process in a large city economy

Directory of Open Access Journals (Sweden)

Tamara Zurabovna Chargazia

2016-12-01

Full Text Available Large cities possess a sufficient potential to participate in the investment processes both at the national and international levels. A potential investor’s awareness of the possibilities and prospects of a city development is of a great importance for him or her to make a decision. So, providing a potential investor with relevant, laconic and reliable information, the local authorities increase the intensity of the investment process in the city economy and vice-versa. As a hypothesis, there is a proposition that a large city administration can sufficiently activate the investment processes in the economy of a corresponding territorial entity using the tools of the information providing. The purpose of this article is to develop measures for the improvement of the investment portal of a large city as an important instrument of the information providing, which will make it possible to brisk up the investment processes at the level under analysis. The reasons of the unsatisfactory information providing on the investment process in a large city economy are deeply analyzed; the national and international experience in this sphere is studied; advantages and disadvantages of the information providing of the investment process in the economy of the city of Makeyevka are considered; the investment portals of different cities are compared. There are suggested technical approaches for improving the investment portal of a large city. The research results can be used to improve the investment policy of large cities.

Analysis Of Supporting Factors On Foreign Direct Investment And Its Impact Toward Indonesian Employment And Export Performance Period 2005-2015

Directory of Open Access Journals (Sweden)

Suharto

2017-09-01

Full Text Available This research analyzes effects of foreign direct investment and Its Impact toward employment and export performance in Indonesia 2005-2015. This research with secondary data focuses on the Supporting factors in which attract foreign direct investment into Indonesia. This research focused on the problem First the impact of labor export results economic growth rate exchange rate inflation rate interest rate and tax toward foreign direct investment second the impact of foreign direct investment on the expansion of employment and export performance in Indonesia during the period 2005-2015. The result of this research explains that variables of human resourceslabor and export performance give positive effect as significantly to attracting foreign direct investment in Indonesia. While foreign direct investment in Indonesia gives positive effect to employment creation and to export performance.

Research on the robust optimization of the enterprise's decision on the investment to the collaborative innovation: Under the risk constraints

International Nuclear Information System (INIS)

Zhou, Qing; Fang, Gang; Wang, Dong-peng; Yang, Wei

2016-01-01

Abstracts: The robust optimization model is applied to analyze the enterprise's decision of the investment portfolio for the collaborative innovation under the risk constraints. Through the mathematical model deduction and the simulation analysis, the research result shows that the enterprise's investment to the collaborative innovation has relatively obvious robust effect. As for the collaborative innovation, the return from the investment coexists with the risk of it. Under the risk constraints, the robust optimization method could solve the minimum risk as well as the proportion of each investment scheme in the portfolio on the condition of different target returns from the investment. On the basis of the result, the enterprise could balance between the investment return and risk and make optimal decision on the investment scheme.

Effect of Occlusal Scheme on the Pressure Distribution of Complete Denture Supporting Tissues: An In Vitro Study.

Science.gov (United States)

Madalli, Poornima; Murali, C R; Subhas, Sambit; Garg, Surbhi; Shahi, Prinka; Parasher, Pragati

2015-01-01

The complete denture teeth arrangement that gives maximum denture stability, comfort, esthetics, and function have been studied since several years. Many occlusal schemes have been advised in which the lingualized occlusion, balanced occlusion, and monoplane occlusion are advocated most popularly. The purpose of this study was to compare the pressure values on the supporting tissue using three diff erent posterior occlusal schemes: Balanced occlusion, lingualized occlusion, and monoplane occlusion in simulated dentures. The simulators used in this study, composed of the maxillary, and mandibular clear heat cure acrylic resin edentulous models. Pressures on the supporting structure under the complete denture were measured using eight strain gauges placed on the model surface on the buccal and lingual slopes of the ridges on the molar and pre-molar region. Pressure on the supporting structure was measured and signals from the sensors were amplifi ed and recorded by the multi-channel electronic strain indicator. The mean pressure which was obtained at each measurement point was compared by one-way ANOVA test. Overall monoplane occlusion had lesser pressure values compared to completely balanced and lingualized occlusal scheme. Lingualized occlusal scheme was found to transfer stresses from working side to non-working side to stabilize the mandibular denture.

A SHAR AH COMPLIANCE REVIEW ON INVESTMENT LINKED TAK FUL IN MALAYSIA

OpenAIRE

MOHD NOOR, AZMAN

2009-01-01

The growth in Islamic funds has brought new challenges and opportunities for the financial industry. In recent years, the trend has been towards unit-linked products with an emphasis on the investment link which definitely includes the takaful industry. Takaful operators are offering investment products apart from their core business in providing protection through General and Family Takaful. This paper aims to review some Shariah issues in investment-linked takaful schemes.

The 3D Elevation Program national indexing scheme

Science.gov (United States)

Thatcher, Cindy A.; Heidemann, Hans Karl; Stoker, Jason M.; Eldridge, Diane F.

2017-11-02

The 3D Elevation Program (3DEP) of the U.S. Geological Survey (USGS) acquires high-resolution elevation data for the Nation. This program has been operating under an opportunity-oriented approach, acquiring light detection and ranging (lidar) projects of varying sizes scattered across the United States. As a result, the national 3DEP elevation layer is subject to data gaps or unnecessary overlap between adjacent collections. To mitigate this problem, 3DEP is adopting a strategic, systematic approach to national data acquisition that will create efficiencies in efforts to achieve nationwide elevation data coverage and help capture additional Federal and non-Federal investments resulting from advance awareness of proposed acquisitions and partnership opportunities. The 3DEP Working Group, an interagency group managed by the USGS, has agreed that all future 3DEP collections within the lower 48 States should be coordinated by using a 1-kilometer by 1-kilometer tiling scheme for the conterminous United States. Fiscal Year 2018 is being considered a transition year, and in Fiscal Year 2019 the national indexing scheme will be fully implemented, so that all 3DEP-supported projects will be acquired and delivered in the national indexing scheme and projected into the Albers Equal Area projection. 

Traffic-aware energy saving scheme with modularization supporting in TWDM-PON

Science.gov (United States)

Xiong, Yu; Sun, Peng; Liu, Chuanbo; Guan, Jianjun

2017-01-01

Time and wavelength division multiplexed passive optical network (TWDM-PON) is considered to be a primary solution for next-generation passive optical network stage 2 (NG-PON2). Due to the feature of multi-wavelength transmission of TWDM-PON, some of the transmitters/receivers at the optical line terminal (OLT) could be shut down to reduce the energy consumption. Therefore, a novel scheme called traffic-aware energy saving scheme with modularization supporting is proposed. Through establishing the modular energy consumption model of OLT, the wavelength transmitters/receivers at OLT could be switched on or shut down adaptively depending on sensing the status of network traffic load, thus the energy consumption of OLT will be effectively reduced. Furthermore, exploring the technology of optical network unit (ONU) modularization, each module of ONU could be switched to sleep or active mode independently in order to reduce the energy consumption of ONU. Simultaneously, the polling sequence of ONU could be changed dynamically via sensing the packet arrival time. In order to guarantee the delay performance of network traffic, the sub-cycle division strategy is designed to transmit the real-time traffic preferentially. Finally, simulation results verify that the proposed scheme is able to reduce the energy consumption of the network while maintaining the traffic delay performance.

Support mechanisms and risk: Implications on the Nordic electricity system

DEFF Research Database (Denmark)

Kitzing, Lena; Ravn, Hans

2013-01-01

a stochastic analysis for the Nordic electricity system by conducting simulations with the energy system model Balmorel and by applying the mean-standard deviation approach of modern portfolio theory to quantify risk implications of policy instruments for an exemplary offshore wind park. The analysis reveals......Investments in renewable energy projects, such as offshore wind parks, are very much dependent on financial support. The type of policy instrument chosen for such support determines investors' exposure to market risk, and thus influences which rate of return they expect to achieve. We make...... that the two support policy schemes Feed-in Tariffs and Feed-in Premiums provide different risk-return relationships. In the investigated case, a Feed-in Premium scheme would require a 13% higher support level, because of a 6% higher exposure of investors to market risk. Our findings can help when designing...

A Regional Decision Support Scheme for Pest Risk Analysis in Southeast Asia.

Science.gov (United States)

Soliman, T; MacLeod, A; Mumford, J D; Nghiem, T P L; Tan, H T W; Papworth, S K; Corlett, R T; Carrasco, L R

2016-05-01

A key justification to support plant health regulations is the ability of quarantine services to conduct pest risk analyses (PRA). Despite the supranational nature of biological invasions and the close proximity and connectivity of Southeast Asian countries, PRAs are conducted at the national level. Furthermore, some countries have limited experience in the development of PRAs, which may result in inadequate phytosanitary responses that put their plant resources at risk to pests vectored via international trade. We review existing decision support schemes for PRAs and, following international standards for phytosanitary measures, propose new methods that adapt existing practices to suit the unique characteristics of Southeast Asia. Using a formal written expert elicitation survey, a panel of regional scientific experts was asked to identify and rate unique traits of Southeast Asia with respect to PRA. Subsequently, an expert elicitation workshop with plant protection officials was conducted to verify the potential applicability of the developed methods. Rich biodiversity, shortage of trained personnel, social vulnerability, tropical climate, agriculture-dependent economies, high rates of land-use change, and difficulties in implementing risk management options were identified as challenging Southeast Asian traits. The developed methods emphasize local Southeast Asian conditions and could help support authorities responsible for carrying out PRAs within the region. These methods could also facilitate the creation of other PRA schemes in low- and middle-income tropical countries. © 2016 Society for Risk Analysis.

Instruments to foster renewable energy investments in Europe. A survey under the financial point of view

International Nuclear Information System (INIS)

Langniss, O.

1996-01-01

Since capital needs are high when investing in Renewable Energy Technologies (RET), well adapted financial schemes are essential, including well fitted financial support. Supporting the dissemination of RET means supporting people, not technologies. Though support mechanism have to be adapted to people not to technologies. A recent study for the European Parliament compares support mechanisms for RET in several European countries by describing case studies. Six different investor types can be identified, each one standing for a specific amalgam of motivation, energy needs, financial possibilities and risk-averse. Each of these types has its specific importance for different RET and different stages of RET's market penetration. Also the size of the market for RET, represented by each investor type, is different. (Author)

Lobatto-Milstein Numerical Method in Application of Uncertainty Investment of Solar Power Projects

Directory of Open Access Journals (Sweden)

Mahmoud A. Eissa

2017-01-01

Full Text Available Recently, there has been a growing interest in the production of electricity from renewable energy sources (RES. The RES investment is characterized by uncertainty, which is long-term, costly and depends on feed-in tariff and support schemes. In this paper, we address the real option valuation (ROV of a solar power plant investment. The real option framework is investigated. This framework considers the renewable certificate price and, further, the cost of delay between establishing and operating the solar power plant. The optimal time of launching the project and assessing the value of the deferred option are discussed. The new three-stage numerical methods are constructed, the Lobatto3C-Milstein (L3CM methods. The numerical methods are integrated with the concept of Black–Scholes option pricing theory and applied in option valuation for solar energy investment with uncertainty. The numerical results of the L3CM, finite difference and Monte Carlo methods are compared to show the efficiency of our methods. Our dataset refers to the Arab Republic of Egypt.

The Influence of Small-Scale Power Plant Supporting Schemes on the Public Trader and Consumers

Directory of Open Access Journals (Sweden)

Renata Varfolomejeva

2017-06-01

Full Text Available The mechanism of support schemes for achieving the required share of renewable energy sources (RES was implemented into the energy sector. The issued amount of support requires state subsidies. The end-users of electricity are paying the mandatory procurement component taxes to cover these subsidies. The article examines the way of minimizing the influence of the existing RES supporting schemes on the consumers. The fixed purchased electricity price in the case of RES does not encourage producers to operate at hours of peak consumption or when the price is high. Modification of the RES support mechanisms at the legislative level, firstly, could minimize the influence of the mandatory procurement component on the end-users’ electricity price, and secondly, could provide a great opportunity for the public trader to forecast the operation of small power plants and their generation abilities. Numerical experiments with models of two types of power plants (biofuel and hydropower prove the existence of a problem and the presence of a solution. This problem constitutes the main subject of the present paper.

THE IMPACT OF CREDIT AND CAPITAL SUPPORTS ON ECONOMIC BEHAVIOR OF FARM HOUSEHOLDS: A HOUSEHOLD ECONOMIC APPROACH

Directory of Open Access Journals (Sweden)

Bernardus Bala de Rosari

2014-07-01

Full Text Available This research aimed at analysing the demand and allocation of credit and capital supports by farm household and impact on production, consumption, and investment. The research was conducted in East Nusa Tenggara Timur (ENT Province, one of targeted region of credit and capital supports policy of the government. Data collection was conducted from April to June 2013 by sampling for 178 households of farmers in Kupang District and Timor Tengah Selatan (TTS District. The result of this research showed that the allocation of credit and capital supports caused increaseof cattle production, consumption expenditure, and investment. The usage of credit and capital supports was depend on economical situation of the household itself. The decision of farm household on using credit and capital supports had impact on overall economical behavior of household, i.e. production, consumption and investment behavior. The transmission use was reciprocally interacted. Finally, the policy of credit and capital supports scheme for farmers should be adjusted with the context of farm household economics.

The PSO support scheme for natural gas - subsidy to industry or environmental policy

International Nuclear Information System (INIS)

Eldegard, Tom

2006-01-01

Some aspects of the PSO scheme for natural gas are examined critically. Two central arguments used for justifying the PSO subsidy scheme of natural gas and its distribution are reviewed; these include the 'smallholder argument' and the 'environmental argument'. The 'smallholder argument' claims that since Norway has the natural gas resources, it should also make use of the natural gas in the country, and not simply send the raw material to other countries. The 'environmental argument' states that natural gas compared to other fossil fuels such as coal and fuel oil, is a far cleaner alternative, thus an environmental-friendly alternative entitled to financial support. The arguments are critically examined by the author (ml)

Research on the supercapacitor support schemes for LVRT of variable-frequency drive in the thermal power plant

Science.gov (United States)

Han, Qiguo; Zhu, Kai; Shi, Wenming; Wu, Kuayu; Chen, Kai

2018-02-01

In order to solve the problem of low voltage ride through(LVRT) of the major auxiliary equipment’s variable-frequency drive (VFD) in thermal power plant, the scheme of supercapacitor paralleled in the DC link of VFD is put forward, furthermore, two solutions of direct parallel support and voltage boost parallel support of supercapacitor are proposed. The capacitor values for the relevant motor loads are calculated according to the law of energy conservation, and they are verified by Matlab simulation. At last, a set of test prototype is set up, and the test results prove the feasibility of the proposed schemes.

Energy efficiency in existing buildings: investment gap, incentives and supporting measures

International Nuclear Information System (INIS)

Varenio, Celine

2012-01-01

successive analyses - causes, appearance of the energy efficiency gap, national tools, programs implemented at the local level - we conclude to a necessary strengthening of non-financial measures which support agents to initiate an investment dynamic and in the meanwhile to an increase of the reliability of economic tools, such as taxes or subventions. (author) [fr

Effects of changes in Italian bioenergy promotion schemes for agricultural biogas projects: Insights from a regional optimization model

International Nuclear Information System (INIS)

Chinese, D.; Patrizio, P.; Nardin, G.

2014-01-01

Italy has witnessed an extraordinary growth in biogas generation from livestock effluents and agricultural activities in the last few years as well as a severe isomorphic process, leading to a market dominance of 999 kW power plants owned by “entrepreneurial farms”. Under the pressure of the economic crisis in the country, the Italian government has restructured renewable energy support schemes, introducing a new program in 2013. In this paper, the effects of the previous and current support schemes on the optimal plant size, feedstock mix and profitability were investigated by introducing a spatially explicit biogas supply chain optimization model, which accounts for different incentive structures. By applying the model to a regional case study, homogenization observed to date is recognized as a result of former incentive structures. Considerable reductions in local economic potentials for agricultural biogas power plants without external heat use, are estimated. New plants are likely to be manure-based and due to the lower energy density of such feedstock, wider supply chains are expected although optimal plant size will be smaller. The new support scheme will therefore most likely eliminate past distortions but also slow down investments in agricultural biogas plants. - Highlights: • We review the evolution of agricultural biogas support schemes in Italy over last 20 years. • A biogas supply chain optimization model which accounts for feed-in-tariffs is introduced. • The model is applied to a regional case study under the two most recent support schemes. • Incentives in force until 2013 caused homogenization towards maize based 999 kW el plants. • Wider, manure based supply chains feeding smaller plants are expected with future incentives

Do generation firms in restructured electricity markets have incentives to support social-welfare-improving transmission investments?

International Nuclear Information System (INIS)

Sauma, Enzo E.; Oren, Shmuel S.

2009-01-01

This paper examines the incentives that generation firms have in restructured electricity markets for supporting long-term transmission investments. In particular, we study whether generation firms, which arguably play a dominant role in the restructured electricity markets, have the incentives to fund or support incremental social-welfare-improving transmission investments. We examine this question in a two-node network and explore how such incentives are affected by the ownership of financial transmission rights (FTRs) by generation firms. In the analyzed two-node network, we show both (1) that the net exporter generation firm has the correct incentives to increase the transmission capacity incrementally up to a certain level and (2) that, although a policy that allocates FTRs to the net exporter generation firm can be desirable from a social point of view, such a policy would dilute the net-importer-generation-firm's incentives to support transmission expansion. Moreover, if all FTRs were allocated or auctioned off to the net exporter generation firm, then it is possible to increase both consumer surplus and social welfare while keeping the net exporter generation firm revenue neutral. (author)

Foreign direct investment vs domestic investment across the European Union. Case study: Romania

Directory of Open Access Journals (Sweden)

Romeo Victor IONESCU

2015-11-01

Full Text Available The paper deals with the idea that investment process is important not only for the economic growth, but for the global integration. There is a powerful connection between FDI and domestic investments. As a result, the analysis is focused on FDI flows in EU28 and Euro area. The comparative analysis is followed by regression, in order to point out the disparities between Member States and their trend. The average value of inward and outward FDI flows is analysed using FDI intensity. A distinct part of the paper is focused on domestic investment process and analyses total investment, investment in construction and investment in equipment. The analysis is supported by the latest official statistical data, pertinent diagrams and tables. The main conclusion of the paper is that the economic crisis in Europe led to a decrease in FDI and domestic investment flows.

FINANCIAL STUDY OF AN INVESTMENT PROJECT IN ALGERIA: CREATION OF A COMPANY WITHIN THE FRAMEWORK OF THE NATIONAL FUNDSUPPORT FOR YOUTH EMPLOYMENT (FNSEJ)

OpenAIRE

Dr Lyes OUABDESSELAM

2017-01-01

This article proposes a financial study of a project to create a commercial enterprise through the scheme proposed by the National Agency for Youth Employment Support (ANSEJ). The company is a testing and analysis laboratory. In this study we have prepared a complete financial package and we have budgeted this project over the entire amortization period of the investment credit in accordance with the timetable set by the support system for young entrepreneurs to set up a business in Algeria. ...

The St. Niklausen drinking-water powered, small hydro scheme in Bad Ragaz; Gemeinde Bad Ragaz - Trinkwasserkraftwerk St. Niklausen - Vorstudie Bericht

Energy Technology Data Exchange (ETDEWEB)

Rueesch, T.

2009-04-15

This report for the Swiss Federal Office of Energy (SFOE) takes a look at the results a preliminary study on the installation of a drinking-water powered small hydro scheme in Bad Ragaz, Switzerland. The installation of new pressure pipes and a new balancing reservoir are proposed. Three variants are proposed and discussed, two of which are considered as being economically viable. The various new installations and components proposed are described and discussed. Investment considerations, energy production and costs are looked at as well as support from the Swiss scheme for the cost-covering remuneration for electricity from renewable energy sources. The report is augmented with photos and plans.

Comparative study of the efficiency of public supports to investments in energy management in the European Union

International Nuclear Information System (INIS)

Scheuer, Stefan; Ballu, Matthieu; Di Stefano, Paolo

2013-01-01

This study proposes a detailed overview of public budgets invested by the different member States of the European Union via subsidy systems, loans or tax arrangements in order to support investments in energy efficiency in buildings. The author also studied results published for these public instruments in terms of energy savings, and proposed a comparison which takes the lifetime of these savings into account. The study is based on available official information. Thus, before presenting the obtained results, the author describes how data have been collected and harmonised, presents the comparative analysis and discusses the lifetime measurement issue

Financial Development and Investment-Cash Flow Sensitivity

Directory of Open Access Journals (Sweden)

Jungwon Suh

2007-06-01

Full Text Available Using firm-level data from thirty-five countries around the world, this paper empirically examines whether investment-cash flow sensitivity reflects financial constraints. Recent US studies have raised questions on the prediction that investment-cash flow sensitivity is a measure of financial constraints. Looking at thirty-five countries with varying degrees of financial development, this study tests whether investment-cash flow sensitivity is in fact related to financial constraints. In most countries, the evidence supporting the argument that firms likely facing financially constraints display high investment-cash flow sensitivity is weak. Moreover, the evidence that firms in the absence of developed financial markets display high investment-cash flow sensitivity is also weak. Overall, the results from this international investigation do not support the prediction that investment-cash flow sensitivity reflects financial constraints.

Local investment in renewable energies

International Nuclear Information System (INIS)

2003-11-01

Although the vast majority of renewable energies projects are established by commercial developers, some of them are financed by ''ordinary citizens'' pooling together through different schemes. This is particularly frequent in Denmark and Germany, possibly a key reason for the continuous and so successful growth of various renewable energies sources in these countries. This guideline aims to define the term of local investment and provides examples of development and recommendations. (A.L.B.)

The resource adequacy scheme in the Korean electricity market

International Nuclear Information System (INIS)

Kim, Hyunsook; Kim, Sung-Soo

2012-01-01

In South Korea, the incentive scheme for generators to add new power generation is based on the system marginal price (SMP) and the capacity payment (CP). The infra-marginal generators receive an extra margin due to the high SMP level and the new infra-marginal generators need to be built to achieve the optimal fuel mix. However, the Metropolitan zone needs more marginal generators due to the transmission congestion and environmental regulations, but the marginal generator in the Metropolitan zone does not have adequate profits for the new investment under the current CP. This paper suggests the appropriate investment incentive scheme for different zones. The introduction of forward capacity markets for different regions creates higher capacity market prices in the Metropolitan zone than those in the Southern zone. The introduction of forward capacity market also induces a new LNG generator investment in the Metropolitan zone while only new infra-marginal generators need to be added in the Southern zone. - Highlights: ► We suggest the introduction of a capacity market for resource adequacy in Korea. ► The current capacity payment does not induce the optimal fuel mix. ► The Southern zone needs more infra-marginal generators. ► The Metropolitan zone needs marginal generators due to transmission congestion. ► Zonal capacity markets induce the efficient generation investment across zones.

Encouraging private sector investment in climatefriendly technologies in developing countries. An assessment of policy options for the Dutch government

International Nuclear Information System (INIS)

Van Rooijen, S.N.M.; Van Wees, M.T.

2006-10-01

This study aims to explore new or reformed policies to be adopted by the Dutch government to encourage private sector investments in climate-friendly technologies in developing countries. A literature review of barriers to climate-friendly investments and of directions for solutions has been complemented with a number of in-depth interviews with stakeholders representing the major actors involved in investment projects (project sponsors, financing institutions, institutional investors and government). The barrier analysis has resulted in the following list of key obstacles to climate-friendly investments: (1) Lack of a sound, transparent and stable enabling environment for investing in developing countries; (2) Shortage of experienced and creditworthy sponsors; (3) High specific project risks; (4) Overestimation investment risks related to (sustainable) investments in developing countries in general (risk perspective); (5) Additional costs of climate-friendly technologies; (6) Shortage of risk capital; (7) Insufficient guarantee mechanisms; (8) Lack of know-how on public-private partnership structures and on financial design; and (9) Lack of insight how corporate social responsibility can be operationalised. Four main gaps have been identified on the basis of an assessment of current Dutch policies and instruments: (1) Shortage of instruments to directly promote investments; (2) Underdeveloped guarantee instruments; (3) Too restrictive cap on project size in financial schemes; (4) Lack of support in operationalising the concept of corporate social responsibility. Four areas for new or intensified policies have been identified based on the barrier and gap analysis: (1) Direct promotion of (potentially large scale) investments, including: (a) Supporting (the establishment of) sponsor companies developing sustainable energy projects in developing countries; (b) Making risk capital available; (c) Creating investment credit facilities; (d) Making development capital in

Methodology for optimization of process integration schemes in a biorefinery under uncertainty

International Nuclear Information System (INIS)

Marta Abreu de las Villas (Cuba))" data-affiliation=" (Departamento de Ingeniería Química. Facultad de Química y Farmacia. Universidad Central Marta Abreu de las Villas (Cuba))" >González-Cortés, Meilyn; Marta Abreu de las Villas (Cuba))" data-affiliation=" (Departamento de Ingeniería Química. Facultad de Química y Farmacia. Universidad Central Marta Abreu de las Villas (Cuba))" >Martínez-Martínez, Yenisleidys; Marta Abreu de las Villas (Cuba))" data-affiliation=" (Departamento de Ingeniería Química. Facultad de Química y Farmacia. Universidad Central Marta Abreu de las Villas (Cuba))" >Albernas-Carvajal, Yailet; Marta Abreu de las Villas (Cuba))" data-affiliation=" (Departamento de Ingeniería Química. Facultad de Química y Farmacia. Universidad Central Marta Abreu de las Villas (Cuba))" >Pedraza-Garciga, Julio; Marta Abreu de las Villas (Cuba))" data-affiliation=" (Departamento de Ingeniería Química. Facultad de Química y Farmacia. Universidad Central Marta Abreu de las Villas (Cuba))" >Morales-Zamora, Marlen

2017-01-01

The uncertainty has a great impact in the investment decisions, operability of the plants and in the feasibility of integration opportunities in the chemical processes. This paper, presents the steps to consider the optimization of process investment in the processes integration under conditions of uncertainty. It is shown the potentialities of the biomass cane of sugar for the integration with several plants in a biorefinery scheme for the obtaining chemical products, thermal and electric energy. Among the factories with potentialities for this integration are the pulp and paper and sugar factories and other derivative processes. Theses factories have common resources and also have a variety of products that can be exchange between them so certain products generated in a one of them can be raw matter in another plant. The methodology developed guide to obtaining of feasible investment projects under uncertainty. As objective function was considered the maximization of net profitable value in different scenarios that are generated from the integration scheme. (author)

Comparing the innovation effects of support schemes for renewable electricity technologies: A function of innovation approach

International Nuclear Information System (INIS)

Río, Pablo del; Bleda, Mercedes

2012-01-01

The aim of this paper is to provide a comparative assessment of the innovation effects of instruments which support the diffusion of renewable electricity technologies with a functions-oriented technological innovation system perspective. The paper provides a link between two major streams of the literature: the functions of innovation systems and the literature on renewable electricity support schemes. We show that, when a functional perspective is adopted, feed-in tariffs are likely to be superior to other policy instruments (quotas with tradable green certificates and tendering), although they still need to be complemented with other instruments, most importantly, direct R and D support. Furthermore, those innovation effects are affected by the specific design elements of the instruments chosen. - Highlights: ► A comparison of the innovation effects of instruments for the diffusion of renewable technologies. ► A functions-oriented technological innovation system perspective. ► A link between the functions of innovation systems and the literature on renewable electricity support schemes. ► Feed-in tariffs are likely to be superior to other instruments. ► Innovation effects are affected by the specific design elements of instruments.

AWARENESS OF MUTUAL FUND INVESTMENT AMONG THE INVESTORS – AN EMPIRICAL STUDY

OpenAIRE

Dr. B. Ravi Kumar; R. Padma Malini

2017-01-01

Capital market has been strengthened due to because of increase in investment in mutual funds by small and medium investors. Most of the investors are having awareness about mutual funds and its benefits like tax benefits, less risk, cost etc. The mutual fund industry in India has undergone a most successful phase in the last 15 years. The growth in number of schemes offered by Indian mutual funds from 403 schemes in 2002-03 to 1294 schemes in 2011-12 has shown the inclination of investors to...

Emissions trading and green investments in Russia

International Nuclear Information System (INIS)

Moe, A.; Tangen, K.; Berdin, V.; Pluzhnikov, O.

2003-01-01

In simple terms a Green Investment Scheme entails connecting revenues from emissions trading to investments in environmental activities in Russia. This article presents insights derived from an international project on the GIS, focusing on issues that must be addressed if the concept is to become operational, on the background of the domestic, as well as international interests connected to a GIS. GIS is a worthwhile concept with the potential to bring real environmental benefits and meet profound concerns from several of the key actors in the Kyoto regime. However, establishing a well-functioning GIS means removing many of the current barriers that hold back investments in Russia. At the time of writing, Russia has still not decided whether it will ratify Kyoto Protocol. GIS illustrates that there will be substantial benefits for Russia from ratifying the Kyoto Protocol, which is a prerequisite for its entering into force. (Author)

Personalization, self-advocacy and inclusion: An evaluation of parent-initiated supported living schemes for people with intellectual and developmental disabilities in the Netherlands.

Science.gov (United States)

Reindl, Marie-Sol; Waltz, Mitzi; Schippers, Alice

2016-06-01

This study focused on parent-initiated supported living schemes in the South of the Netherlands and the ability of these living schemes to enhance participation, choice, autonomy and self-advocacy for people with intellectual or developmental disabilities through personalized planning, support and care. Based on in-depth interviews with tenants, parents and caregivers, findings included that parent-initiated supported housing schemes made steps towards stimulating self-advocacy and autonomy for tenants. However, overprotective and paternalistic attitudes expressed by a significant number of parents, as well as structural constraints affecting the living schemes, created obstacles to tenants' personal development. The study calls for consideration of interdependence as a model for the relationship of parents and adult offspring with disabilities. The benefits and tensions inherent within this relationship must be taken into consideration during inclusive community building. © The Author(s) 2016.

Personalization, Self-Advocacy and Inclusion: An Evaluation of Parent-Initiated Supported Living Schemes for People with Intellectual and Developmental Disabilities in the Netherlands

Science.gov (United States)

Reindl, Marie-Sol; Waltz, Mitzi; Schippers, Alice

2016-01-01

This study focused on parent-initiated supported living schemes in the South of the Netherlands and the ability of these living schemes to enhance participation, choice, autonomy and self-advocacy for people with intellectual or developmental disabilities through personalized planning, support and care. Based on in-depth interviews with tenants,…

Benchmarking and energy management schemes in SMEs

Energy Technology Data Exchange (ETDEWEB)

Huenges Wajer, Boudewijn [SenterNovem (Netherlands); Helgerud, Hans Even [New Energy Performance AS (Norway); Lackner, Petra [Austrian Energy Agency (Austria)

2007-07-01

Many companies are reluctant to focus on energy management or to invest in energy efficiency measures. Nevertheless, there are many good examples proving that the right approach to implementing energy efficiency can very well be combined with the business-priorities of most companies. SMEs in particular can benefit from a facilitated European approach because they normally have a lack of resources and time to invest in energy efficiency. In the EU supported pilot project BESS, 60 SMEs from 11 European countries of the food and drink industries successfully tested a package of interactive instruments which offers such a facilitated approach. A number of pilot companies show a profit increase of 3 up to 10 %. The package includes a user-friendly and web based E-learning scheme for implementing energy management as well as a benchmarking module for company specific comparison of energy performance indicators. Moreover, it has several practical and tested tools to support the cycle of continuous improvement of energy efficiency in the company such as checklists, sector specific measure lists, templates for auditing and energy conservation plans. An important feature and also a key trigger for companies is the possibility for SMEs to benchmark anonymously their energy situation against others of the same sector. SMEs can participate in a unique web based benchmarking system to interactively benchmark in a way which fully guarantees confidentiality and safety of company data. Furthermore, the available data can contribute to a bottom-up approach to support the objectives of (national) monitoring and targeting and thereby also contributing to the EU Energy Efficiency and Energy Services Directive. A follow up project to expand the number of participating SMEs of various sectors is currently being developed.

HOUSEHOLD SAVINGS AS A SOURCE OF INVESTMENT RESOURCES IN UKRAINE

Directory of Open Access Journals (Sweden)

E. Nosova

2015-03-01

Full Text Available The approaches of scientists in definition of the household savings, the motives of their creation and the role they perform are identified; the role of household savings in the economy is described; the importance of household saving transformation from unorganized to organized forms is analyzed; the size of saving in financial and nonfinancial forms, its dynamics and structure are characterized; comparison between household savings and main macroeconomic indicators is conducted; ways of investment of households savings are discussed; the dynamics of deposits in banks and credit unions, the participation of households in collective investment schemes (private and corporate investment funds is characterized; the dynamics of household deposits in national and foreign currencies is shown; the dynamics of nominal value of investment fund’s securities, that have been placed among resident individuals are characterized; the dynamics of deposit accounts and the number of credit unions members are described; the comparative characteristics of different ways to invest money is given; the reasons of unorganized savings existence are marked; barriers to convert savings into investments and the ways of overcoming them are identified.

Forecasting of Power Grid Investment in China Based on Support Vector Machine Optimized by Differential Evolution Algorithm and Grey Wolf Optimization Algorithm

Directory of Open Access Journals (Sweden)

Shuyu Dai

2018-04-01

Full Text Available In recent years, the construction of China’s power grid has experienced rapid development, and its scale has leaped into the first place in the world. Accurate and effective prediction of power grid investment can not only help pool funds and rationally arrange investment in power grid construction, but also reduce capital costs and economic risks, which plays a crucial role in promoting power grid investment planning and construction process. In order to forecast the power grid investment of China accurately, firstly on the basis of analyzing the influencing factors of power grid investment, the influencing factors system for China’s power grid investment forecasting is constructed in this article. The method of grey relational analysis is used for screening the main influencing factors as the prediction model input. Then, a novel power grid investment prediction model based on DE-GWO-SVM (support vector machine optimized by differential evolution and grey wolf optimization algorithm is proposed. Next, two cases are taken for empirical analysis to prove that the DE-GWO-SVM model has strong generalization capacity and has achieved a good prediction effect for power grid investment forecasting in China. Finally, the DE-GWO-SVM model is adopted to forecast power grid investment in China from 2018 to 2022.

BiodieselFAO: An Integrated Decision Support System for Investment Analysis in the Biodiesel Production Chain

Directory of Open Access Journals (Sweden)

Aziz Galvão da Silva Júnior

2015-06-01

Full Text Available In the short and medium terms, biofuels are the most viable alternative to reduce the environmental impact of fossil fuels. The recent controversy over the competition between biofuels and food production increases the complexity of investment decisions in the biodiesel production chain. In this context, decision support tools are highly relevant. The purpose of this article is to describe the BiodieselFAO using the Unified Modeling Language (UML. An integrated analysis considering both agricultural and industrial sectors was identified as a key requirement to the system. Therefore, farmers and industry are the main actors in the use case diagram. As the raw material represents around 70% of the industrial cost of biodiesel production, the price negotiation of raw material (oilseeds is the central use case. Configuration, agriculture, industry, results and scenarios are the modules, which encompass the functionalities derived from the UML diagrams. The Food and Agriculture Organization of the United Nations (FAO has made the BiodieselFAO available, free of charge, to around 180 professionals from 17 Latin American countries. Additionally, the developing team has supported the usage of the BiodieselFAO in several biodiesel investment analyses throughout Latin America. The system was also useful in the design and analysis of policy related to biodiesel industry in Brazil.

[Selection of occlusal scheme on the basis of pressure distribution on supporting structures under complete dentures].

Science.gov (United States)

Nagao, Kan; Kawano, Fumiaki; Ichikawa, Tetsuo

2004-12-01

In case of making complete dentures, we have to consider not only denture stability but also the restoration of aesthetics and function such as mastication and speech. However these are contradictory theoretically from the point of view of denture stability, and it is very difficult to satisfy both requirements in the case of a patient who has poor upper and lower alveolar ridges. We investigated the effect of artificial posterior teeth form and occlusal scheme on the distribution of pressure on supporting structures under complete dentures during mastication with upper and lower edentulous simulators. In this report, a guideline for the selection of occlusal scheme for complete dentures, based on our previous investigations, is described. The occlusal scheme remarkably affected the distribution of pressure under simulated complete dentures, as shown by comparing the distribution of pressure using two different occlusal schemes:fully balanced occlusion and lingualized occlusion. However other factors such as posterior teeth form and position affect the distribution of pressure as well, and are related to each other. Therefore, not only occlusal scheme but also posterior artificial teeth form has to be considered, and the form of posterior teeth should be carefully and comprehensively decided when making complete dentures.

The Role of Cash Holdings in Reducing Investment-Cash Flow Sensitivity: Evidence from a Financial Crisis Period in an Emerging Market

OpenAIRE

Ozgur Arslan; Chrisostomos Florackis; Aydin Ozkan

2006-01-01

This paper investigates the relationship between financing constraints and investment-cash flow sensitivities by focusing on cash holdings of firms as the basic classification scheme to separate firms into financially constrained and unconstrained categories. The idea is that high cash reserves increase the ability of firms to undertake profitable investment opportunities. Our classification scheme is based on an optimal cash model, which helps us identify the firms that deviate significantly...

Financial Investing Made for Women: The Economic and Psychological Reasons Why Women Invest Differently Than Men

Directory of Open Access Journals (Sweden)

Carolina M. Reece

2013-07-01

Full Text Available Financial Investing is becoming not only a way to plan for a future source of retirement, but also a method to control a personal financial situation without having to rely on government aid or family member support to survive during the elderly years. Today, individuals cannot depend on social security being available in the future for financial support. It is especially vital for women to become more interested in making long-term investments that will provide a secure and effective approach to money management and financial planning. However, as various studies have concluded, women are less interested than men in managing their finances due to various economic and psychological reasons related to risk aversion, sociopolitical and biological factors, and income. This study reviews previous research findings related to the relationship between women and investments, as well as several economic and psychological reasons behind the gender gap on financial investing are presented. Surveys were used to identify the main reasons for women’s tendency to rely less on financial investments. It was found that women who had some source of financial investment showed confidence in the stock market, as well as in their financial decisions. These results contradict some of the findings shown in previous research.

Mobilising Investment in Energy Efficiency

Energy Technology Data Exchange (ETDEWEB)

NONE

2012-07-01

Taxes, loans and grants, trading schemes and white certificates, public procurement and investment in R&D or infrastructure: known collectively as 'economic instruments', these tools can be powerful means of mobilising the finances needed to achieve policy goals by implementing energy efficiency measures. The role of economic instruments is to kick-start the private financial markets and to motivate private investors to fund EE measures. They should reinforce and promote energy performance regulations. This IEA analysis addresses the fact that, to date, relatively little effort has been directed toward evaluating how well economic instruments work. Using the buildings sector to illustrate how such measures can support energy efficiency, this paper can help policy makers better select and design economic instruments appropriate to their policy objectives and national contexts. This report’s three main aims are to: 1) Examine how economic instruments are currently used in energy efficiency policy; 2) Consider how economic instruments can be more effective and efficient in supporting low-energy buildings; and 3) Assess how economic instruments should be funded, where public outlay is needed. Detailed case studies in this report assess examples of economic instruments for energy efficiency in the buildings sector in Canada (grants), France (tax relief and loans), Germany (loans and grants), Ireland (grants) and Italy (white certificates and tax relief).

Comparative Analysis of Investment Decision Models

Directory of Open Access Journals (Sweden)

Ieva Kekytė

2017-06-01

Full Text Available Rapid development of financial markets resulted new challenges for both investors and investment issues. This increased demand for innovative, modern investment and portfolio management decisions adequate for market conditions. Financial market receives special attention, creating new models, includes financial risk management and investment decision support systems.Researchers recognize the need to deal with financial problems using models consistent with the reality and based on sophisticated quantitative analysis technique. Thus, role mathematical modeling in finance becomes important. This article deals with various investments decision-making models, which include forecasting, optimization, stochatic processes, artificial intelligence, etc., and become useful tools for investment decisions.

LevelScheme: A level scheme drawing and scientific figure preparation system for Mathematica

Science.gov (United States)

Caprio, M. A.

2005-09-01

LevelScheme is a scientific figure preparation system for Mathematica. The main emphasis is upon the construction of level schemes, or level energy diagrams, as used in nuclear, atomic, molecular, and hadronic physics. LevelScheme also provides a general infrastructure for the preparation of publication-quality figures, including support for multipanel and inset plotting, customizable tick mark generation, and various drawing and labeling tasks. Coupled with Mathematica's plotting functions and powerful programming language, LevelScheme provides a flexible system for the creation of figures combining diagrams, mathematical plots, and data plots. Program summaryTitle of program:LevelScheme Catalogue identifier:ADVZ Program obtainable from: CPC Program Library, Queen's University of Belfast, N. Ireland Program summary URL:http://cpc.cs.qub.ac.uk/summaries/ADVZ Operating systems:Any which supports Mathematica; tested under Microsoft Windows XP, Macintosh OS X, and Linux Programming language used:Mathematica 4 Number of bytes in distributed program, including test and documentation:3 051 807 Distribution format:tar.gz Nature of problem:Creation of level scheme diagrams. Creation of publication-quality multipart figures incorporating diagrams and plots. Method of solution:A set of Mathematica packages has been developed, providing a library of level scheme drawing objects, tools for figure construction and labeling, and control code for producing the graphics.

In praise of tax havens: international tax planning and foreign direct investment

OpenAIRE

Hong, Qing; Smart, Michael

2007-01-01

The multinationalization of corporate investment in recent years has given rise to a number of international tax avoidance schemes that may be eroding tax revenues in industrialized countries, but which may also reduce tax burdens on mobile capital and so facilitate investment. Both the welfare effects of and the optimal response to international tax planning are therefore ambiguous. Evaluating these factors in a simple general equilibrium model, we find that citizens of high-tax countries be...

Bicycle and Car Share Schemes as Inclusive Modes of Travel? A Socio-Spatial Analysis in Glasgow, UK

Directory of Open Access Journals (Sweden)

Julie Clark

2016-06-01

Full Text Available Public bicycle and car sharing schemes have proliferated in recent years and are increasingly part of the urban transport landscape. Shared transport options have the potential to support social inclusion by improving accessibility: these initiatives could remove some of the barriers to car ownership or bicycle usage such as upfront costs, maintenance and storage. However, the existing evidence base indicates that, in reality, users are most likely to be white, male and middle class. This paper argues that there is a need to consider the social inclusivity of sharing schemes and to develop appropriate evaluation frameworks accordingly. We therefore open by considering ways in which shared transport schemes might be inclusive or not, using a framework developed from accessibility planning. In the second part of the paper, we use the case study of Glasgow in Scotland to undertake a spatial equity analysis of such schemes. We examine how well they serve different population groups across the city, using the locations of bicycle stations and car club parking spaces in Glasgow, comparing and contrasting bike and car. An apparent failure to deliver benefits across the demographic spectrum raises important questions about the socially inclusive nature of public investment in similar schemes.

The Clean-Development Mechanism, stochastic permit prices and energy investments

International Nuclear Information System (INIS)

Hieronymi, Philipp; Schüller, David

2015-01-01

We analyze the impact on energy investments stemming from different emission permit classes, by considering permits that are allocated inside the European Emission Trading Scheme and secondary Certified Emission Reduction (sCER) permits originating from the Clean Development Mechanism. One price taking firm which is subject to emission regulation has the choice to invest in gas or wind power plant. The firm faces uncertainty regarding stochastically evolving permit prices, while it receives a premium on the electricity price for wind energy. As a first step, we determine the value of the option to invest into a gas power plant over time. Then, we calculate the investment probability of a gas power investment in a range of policy scenarios. We find that allowing the usage of sCER permits in the present policy framework has a positive impact on gas power investment. Decoupling the price processes has a similar effect. If the quota of sCER permits is doubled, the decrease in the investment probability for wind power is large. We carry out sensitivity tests for different parameter values, and find that investment behavior changes significantly with differing interest rates, the wind energy premium and volatility. - Highlights: • We model the impact of two CO 2 permit classes on energy investments. • We present a real-options framework accounting for uncertainty. • Clean Development Mechanism permits have a negative influence on investment into renewable energy. • Interest rate and volatility values have a strong impact on the results

Investment Decision Support for Engineering Projects Based on Risk Correlation Analysis

Directory of Open Access Journals (Sweden)

Yan Liu

2012-01-01

Full Text Available Investment decisions are usually made on the basis of the subjective judgments of experts subjected to the information gap during the preliminary stages of a project. As a consequence, a series of errors in risk prediction and/or decision-making will be generated leading to out of control investment and project failure. In this paper, the variable fuzzy set theory and intelligent algorithms integrated with case-based reasoning are presented. The proposed algorithm manages the numerous fuzzy concepts and variable factors of a project and also sets up the decision-making process in accordance with past cases and experiences. Furthermore, it decreases the calculation difficulty and reduces the decision-making reaction time. Three types of risk correlations combined with different characteristics of engineering projects are summarized, and each of these correlations is expounded at the project investment decision-making stage. Quantitative and qualitative change theories of variable fuzzy sets are also addressed for investment risk warning. The approach presented in this paper enables the risk analysis in a simple and intuitive manner and realizes the integration of objective and subjective risk assessments within the decision-makers' risk expectation.

Bridging the industrial energy efficiency gap – Assessing the evidence from the Italian white certificate scheme

International Nuclear Information System (INIS)

Stede, Jan

2017-01-01

The Italian white certificate scheme is the main national policy instrument to incentivise energy efficiency of the industrial sector, with savings from white certificates amounting to 2% of Italy's 2012 primary energy consumption. The mechanism sets binding energy-saving targets on electricity and gas distributors with at least 50,000 clients and includes a voluntary opt-in model for participation from other parties. This paper investigates and assesses the elements of the scheme that help overcome several barriers to deliver industrial energy efficiency. Results from a survey conducted among leading experts indicate that the Italian system provides a strong financial incentive to energy efficiency investments, covering a significant share of investment costs and thus reducing payback time. Moreover, the scheme fosters the development of energy service companies (ESCOs), which are key to developing, installing and arranging finance for projects on the ground. In conjunction with other policies, the mechanism also raises awareness of energy efficiency investment opportunities, thus helping overcome the market failure of insufficient information. Core challenges remain, including tackling regulatory uncertainty and improving access to finance. - Highlights: • Due to a strong monetary incentive, energy savings are mainly achieved in industry. • White certificates cover around 25 per cent of investment costs in Italian industry. • Active energy services sector with >100 energy service companies built from scratch. • Tackling regulatory uncertainty is the key challenge.

The Attracting of Foreign Investment in the Russian Economic Development

Directory of Open Access Journals (Sweden)

Sergey I. Girko

2018-03-01

Full Text Available The attracting of foreign investment is a strategic goal of the Russian economy’s development. Direct investment plays a special role in this process providing an access to financial resources, modern technologies, management skills, innovative goods and services as well as contributing to increase of economic competitiveness, sustained growth and improvements in living standards. In this connection, creation of an enabling environment for foreign investors is a priority sector of public investment policy. Based on the analysis of federal and regional forms of supporting investment activities, it can be concluded that the forms associated with budget injections into the economy are dominant. Co-financing of investment projects, government programs to support exports, create infrastructure (technology parks, SEZ infrastructure, TAD, create support centers for entrepreneurs, all this can be called financial stimulation of economic activity and, in particular, investment activity. The study suggest that the state has to go to these costs in connection with the reduction of the investment potential of the private sector, as a result of the economic crisis and international sanctions.

Delaying investments in sensor technology: The rationality of dairy farmers' investment decisions illustrated within the framework of real options theory.

Science.gov (United States)

Rutten, C J; Steeneveld, W; Oude Lansink, A G J M; Hogeveen, H

2018-05-02

The adoption rate of sensors on dairy farms varies widely. Whereas some sensors are hardly adopted, others are adopted by many farmers. A potential rational explanation for the difference in adoption may be the expected future technological progress in the sensor technology and expected future improved decision support possibilities. For some sensors not much progress can be expected because the technology has already made enormous progress in recent years, whereas for sensors that have only recently been introduced on the market, much progress can be expected. The adoption of sensors may thus be partly explained by uncertainty about the investment decision, in which uncertainty lays in the future performance of the sensors and uncertainty about whether improved informed decision support will become available. The overall aim was to offer a plausible example of why a sensor may not be adopted now. To explain this, the role of uncertainty about technological progress in the investment decision was illustrated for highly adopted sensors (automated estrus detection) and hardly adopted sensors (automated body condition score). This theoretical illustration uses the real options theory, which accounts for the role of uncertainty in the timing of investment decisions. A discrete event model, simulating a farm of 100 dairy cows, was developed to estimate the net present value (NPV) of investing now and investing in 5 yr in both sensor systems. The results show that investing now in automated estrus detection resulted in a higher NPV than investing 5 yr from now, whereas for the automated body condition score postponing the investment resulted in a higher NPV compared with investing now. These results are in line with the observation that farmers postpone investments in sensors. Also, the current high adoption of automated estrus detection sensors can be explained because the NPV of investing now is higher than the NPV of investing in 5 yr. The results confirm that

A proposal for investment recovery of FACTS devices in deregulated electricity markets

International Nuclear Information System (INIS)

Mithulananthan, Nadarajah; Acharya, Naresh

2007-01-01

The paper presents a methodology to quantify the benefits, in terms of monetary values, of FACTS devices when used in deregulated electricity market for congestion management. The proposed methodology is used in the proposal for investment recovery of FACTS devices. Despite the long history of development and mature technology, the practical installations of FACTS devices are still limited. The main reasons for few installations are high investment cost and lack of viable measures to quantify the long list of benefits offered by FACTS device. In this respect, the methodology proposed in the paper provides a promising solution. The proposed methodology is based on establishing pricing schemes with and without FACTS devices using OPF formulation. The volume of market with FACTS devices and the increase in surplus due to them forms the basis of quantifying their benefits. The pricing scheme does not destroy the incentive effect in short run and also makes possible the provision of merchant FACTS. The proposed concept was tested and validated with TCSC in five-bus test system. Result shows that, when TCSC is used to relieve congestion in the system and the investment on TCSC can be recovered. (author)

The role of government in supporting the emergence of clean energy venture capital investing in Switzerland

International Nuclear Information System (INIS)

Buerer, M.J.; Wuestenhagen, R.

2005-01-01

This report for the Swiss Federal Office of Energy (SFOE) takes a look at the role of the Swiss government in supporting the provision of venture capital for clean energy projects. Topics examined include the lack of sufficient venture capital investment in clean energy technology, the situation encountered in Switzerland today as far as energy entrepreneurship is concerned, key challenges and cultural, legal and fiscal aspects. Present government support in these areas, the relevance of current Swiss programmes and improvements that are to be made are also discussed. Also, activities in other countries are examined and suggestions are made concerning new activities to improve the situation in Switzerland

The role of government in supporting the emergence of clean energy venture capital investing in Switzerland

Energy Technology Data Exchange (ETDEWEB)

Buerer, M J; Wuestenhagen, R

2005-07-01

This report for the Swiss Federal Office of Energy (SFOE) takes a look at the role of the Swiss government in supporting the provision of venture capital for clean energy projects. Topics examined include the lack of sufficient venture capital investment in clean energy technology, the situation encountered in Switzerland today as far as energy entrepreneurship is concerned, key challenges and cultural, legal and fiscal aspects. Present government support in these areas, the relevance of current Swiss programmes and improvements that are to be made are also discussed. Also, activities in other countries are examined and suggestions are made concerning new activities to improve the situation in Switzerland.

Influence of the Risk-Contributing Factors on the Financing of the Investment Project for Building of Intelligent Buildings

OpenAIRE

Voytolovskiy Nikolay; Trebukhin Anatoliy; Shoshinov Vitaly

2017-01-01

This article provides the generic classification of risks of the investment projects for the construction of intelligent buildings which differ by the detachment of the subjective perception of risk by the investor. Risk and uncertainty were justified as system characteristics of the investment projects for the construction of intelligent buildings. Characteristics of the development was given in the context of project management. Methodical schemes of the development of the investment projec...

The Relative Performance of Debt-restricted Real Estate Investment Trusts (REITs): Does Faith Matter?

OpenAIRE

M. Kabir Hassan; Yasser Alhenawi; Hesham Merdad

2011-01-01

Ibrahim & Ong (2008) use operational restrictions of Islamic Investment Guidelines and conduct a thought experiment on Real Estate Investment Trusts (REITs) under restricted and non-restricted schemes. We use financial restriction and reach somewhat different results. Compliant REITs underperform non-compliant REITs in equally-weighted portfolios. However, the results are inversed in value-weighted portfolios. In the latter case, compliant REITs outperform non-compliant REITs and provide a le...

East-West European farm investment behaviour - The role of financial constraints and public support

Energy Technology Data Exchange (ETDEWEB)

Fertő, I.; Bakucs, Z.; Bojnec, S.; Latruffe, L.

2017-09-01

The article investigated farm investment behaviour among East (Hungarian and Slovenian) and West (French) European Union farms using individual farm accountancy panel data for the 2003-2008 period. Despite differences in farm structures, except for the presence of capital market imperfections evidenced in the East, farms’ investment behaviour was not substantially different. Farm gross investment was positively associated with real sales’ growth. In addition, it was positively associated with public investment subsidies which can mitigate capital market imperfections in the short-term. On the long run, the farm’s ability to successfully compete in the output market by selling produce and securing a sufficient cash flow for investment is crucial.

East-West European farm investment behaviour - The role of financial constraints and public support

International Nuclear Information System (INIS)

Fertő, I.; Bakucs, Z.; Bojnec, S.; Latruffe, L.

2017-01-01

The article investigated farm investment behaviour among East (Hungarian and Slovenian) and West (French) European Union farms using individual farm accountancy panel data for the 2003-2008 period. Despite differences in farm structures, except for the presence of capital market imperfections evidenced in the East, farms’ investment behaviour was not substantially different. Farm gross investment was positively associated with real sales’ growth. In addition, it was positively associated with public investment subsidies which can mitigate capital market imperfections in the short-term. On the long run, the farm’s ability to successfully compete in the output market by selling produce and securing a sufficient cash flow for investment is crucial.

Predicting the Filial Behaviors of Chinese-Malaysian Adolescents from Perceived Parental Investments, Filial Emotions, and Parental Warmth and Support

Science.gov (United States)

Cheah, Charissa S. L.; Ozdemir, Sevgi Bayram; Leung, Christy Y. Y.

2012-01-01

The present study examined the mediating role of perceived parental warmth and support in predicting Chinese Malaysian adolescents' filial behaviors from their age, perceived parental investments, and positive filial emotions toward their parents. The effects of these predictors were examined separately for mothers and fathers. Participants…

An Integrated Approach for the Improvement of Flood Control and Drainage Schemes in the Coastal Belt of Bangladesh

NARCIS (Netherlands)

Ali, L.

2002-01-01

During the past decades huge investments have been made in flood protection, drainage and irrigation schemes to reclaim and develop many polder areas in Bangladesh. In these areas a careful water management is required to get optimal results from the investments in the physical infrastructure and

Performance comparison of renewable incentive schemes using optimal control

International Nuclear Information System (INIS)

Oak, Neeraj; Lawson, Daniel; Champneys, Alan

2014-01-01

Many governments worldwide have instituted incentive schemes for renewable electricity producers in order to meet carbon emissions targets. These schemes aim to boost investment and hence growth in renewable energy industries. This paper examines four such schemes: premium feed-in tariffs, fixed feed-in tariffs, feed-in tariffs with contract for difference and the renewable obligations scheme. A generalised mathematical model of industry growth is presented and fitted with data from the UK onshore wind industry. The model responds to subsidy from each of the four incentive schemes. A utility or ‘fitness’ function that maximises installed capacity at some fixed time in the future while minimising total cost of subsidy is postulated. Using this function, the optimal strategy for provision and timing of subsidy for each scheme is calculated. Finally, a comparison of the performance of each scheme, given that they use their optimal control strategy, is presented. This model indicates that the premium feed-in tariff and renewable obligation scheme produce the joint best results. - Highlights: • Stochastic differential equation model of renewable energy industry growth and prices, using UK onshore wind data 1992–2010. • Cost of production reduces as cumulative installed capacity of wind energy increases, consistent with the theory of learning. • Studies the effect of subsidy using feed-in tariff schemes, and the ‘renewable obligations’ scheme. • We determine the optimal timing and quantity of subsidy required to maximise industry growth and minimise costs. • The premium feed-in tariff scheme and the renewable obligations scheme produce the best results under optimal control

Expert opinion on risks to the long-term viability of residential recycled water schemes: An Australian study.

Science.gov (United States)

West, Camilla; Kenway, Steven; Hassall, Maureen; Yuan, Zhiguo

2017-09-01

The water sector needs to make efficient and prudent investment decisions by carefully considering the long-term viability of water infrastructure projects. To support the assessment and planning of residential recycled water schemes in Australia, we have sought to clarify scheme objectives and to further define the array of critical risks that can impact the long-term viability of schemes. Building on historical information, we conducted a national survey which elicited responses from 88 Australian expert practitioners, of which 64% have over 10 years of industry experience and 42% have experience with more than five residential recycled water schemes. On the basis of expert opinion, residential recycled water schemes are considered to be highly relevant for diversifying and improving water supply security, reducing wastewater effluent discharge and pollutant load to waterways and contributing to sustainable urban development. At present however, the inability to demonstrate an incontestable business case is posing a significant risk to the long-term viability of residential recycled water schemes. Political, regulatory, organisational and financial factors were also rated as critical risks, in addition to community risk perception and fall in demand. The survey results shed further light on the regulatory environment of residential recycled water schemes, with regulatory participants rating the level and impact of risk factors higher than other survey participants in most cases. The research outcomes provide a comprehensive understanding of the critical risks to the long-term viability of residential recycled water schemes, thereby enabling the specification of targeted risk management measures at the assessment and planning stage of a scheme. Copyright © 2017 Elsevier Ltd. All rights reserved.

FORMATION OF INVESTMENT ONTOLOGICAL PROVISION OF AGRICULTURAL ENTERPRISES IN THE RADIOACTIVE CONTAMINATION

Directory of Open Access Journals (Sweden)

Vitalina Kalenska

2016-11-01

Full Text Available The paper aims at clarifying the ontological system formation features of the investment support of agricultural enterprises on the radiation-contaminated area. The objects of the research are the agricultural enterprises on the radiation-contaminated area. The article highlights the concept of investment support of agricultural enterprises which revealed the main principles of the investment activity organization; equality of all investors; equal rights for all investors; investment security; noninterference of the subjects to the investment process in the investment activity, subject to compliance with applicable law; independence in the selection of criteria for investment activities; observation of the rights and interests of the investment process participants when they conduct investment activities. Methods. The study is based on scientific principles, means of scientific knowledge the use of which ensured the reliability of the results obtained and resolution of the goals and objectives. Findings. The author has identified the features of the investment attractiveness of the agricultural enterprises located on the radiation-contaminated areas of Ukraine that resulted in the finding that the agricultural enterprises in Ukraine subjected to radioactive contamination are particularly problematic in terms of the investment development, which include: Volyn, Zhytomyr, Kyiv, Rivne and Chernihiv regions. It is in these regions that the agribusinesses face considerable problems, since the investors, as usual, are afraid to invest due to numerous risks - not only environmental, but also economic and social. Practical significance. The investment support ontological system of the agricultural enterprises on the radiation-contaminated area is formed according to the following principles: clarity, consistency, scalability, least coding effect and least ontological commitments. It is also found that the ontology should be subject to a specific set of

Role of carbon price signal on the investment decisions of companies

International Nuclear Information System (INIS)

Herve, Morgan

2011-01-01

This PhD thesis focuses on the impact of the European Union Emissions Trading Scheme (EU ETS) on investment decisions in the European power sector. We provide the policy background on the EU ETS and contemporary policy and economic developments. We discuss the main types of compliance buyers' responses to the EU ETS constraint: emissions reductions, acquisitions of additional compliance assets, and other responses. We present the results of an empirical survey of the most carbon constrained European utilities. We show that strategic and economic considerations prevailed over the introduction of the carbon price. We discuss the impact of those investments on European utilities' EU ETS profile by looking at the potentially locked-in emissions, changes in the compliance perimeter and some specific developments relative to carbon leakage and Kyoto offsets. We offer a review of the investment decision-making approaches. Exploring the impact of carbon price scenarios on generation investment portfolios, we are able to identify that: the EU ETS has a moderate but central reallocation role in power generation investment portfolios; insights into the long-term carbon price trend are particularly helpful to unlock investment; some much discussed policy provisions only have a relatively small impact on investment portfolios; carbon price expectations impact decisions relative to power generation investment portfolios; while the EU ETS has a central role, the climate and non-climate policy mix matters most. (author)

Derisking Renewable Energy Investment. A Framework to Support Policymakers in Selecting Public Instruments to Promote Renewable Energy Investment in Developing Countries

Energy Technology Data Exchange (ETDEWEB)

Waissbein, Oliver; Glemarec, Yannick; Bayraktar, Hande; Schmidt, Tobias S.

2013-03-15

This report introduces an innovative framework to assist policymakers to quantitatively compare the impact of different public instruments to promote renewable energy. The report identifies the need to reduce the high financing costs for renewable energy in developing countries as an important task for policymakers acting today. The framework is structured in four stages: (i) risk environment, (ii) public instruments, (iii) levelised cost and (iv) evaluation. To illustrate how the framework can support decision-making in practice, the report presents findings from illustrative case studies in four developing countries. It then draws on these results to discuss possible directions for enhancing public interventions to scale-up renewable energy investment. UNDP is also releasing a financial tool for policymakers to accompany the framework. The financial tool is available for download on the UNDP website.

Mean-variance portfolio selection and efficient frontier for defined contribution pension schemes

OpenAIRE

Hoejgaard, B.; Vigna, E.

2007-01-01

We solve a mean-variance portfolio selection problem in the accumulation phase of a defined contribution pension scheme. The efficient frontier, which is found for the 2 asset case as well as the n + 1 asset case, gives the member the possibility to decide his own risk/reward profile. The mean-variance approach is then compared to other investment strategies adopted in DC pension schemes, namely the target-based approach and the lifestyle strategy. The comparison is done both in a theoretical...

New Financing Schemes of Public Infrastructure

Directory of Open Access Journals (Sweden)

Ignacio de la Riva

2017-01-01

Full Text Available Public works procurements and concessions are traditional legal techniques used to shape the financing of public infrastructure. Fiscal constraints faced by public administrations at the end of the 20th century, and the subsequent increase of private participation in the provision of public goods and services, encouraged the development of new legal schemes allowing a higher degree of private investment in public infrastructure; such as Public Private Partnerships, project finance, securitizations, the shadow toll, turn-key agreements, public leasing and public trusts.

Investment incentives: regulation of the Finnish electricity distribution

International Nuclear Information System (INIS)

Kinnunen, Kaisa

2006-01-01

Investments into the electricity distribution network are needed to support competition and to guarantee the security of supply as well as a good quality of electricity. The aim of this paper is to study the ex post regulatory system in Finland in context of investment incentives. The second objective is to study how the investments in the sector have developed after the liberalisation and what seem to be the most important factors influencing investments in light of empirical information and how regulation affects them. The investment volumes vary much between years but on average, no drastic developments have taken place

Retention payoff-based cost per day open regression equations: Application in a user-friendly decision support tool for investment analysis of automated estrus detection technologies.

Science.gov (United States)

Dolecheck, K A; Heersche, G; Bewley, J M

2016-12-01

Assessing the economic implications of investing in automated estrus detection (AED) technologies can be overwhelming for dairy producers. The objectives of this study were to develop new regression equations for estimating the cost per day open (DO) and to apply the results to create a user-friendly, partial budget, decision support tool for investment analysis of AED technologies. In the resulting decision support tool, the end user can adjust herd-specific inputs regarding general management, current reproductive management strategies, and the proposed AED system. Outputs include expected DO, reproductive cull rate, net present value, and payback period for the proposed AED system. Utility of the decision support tool was demonstrated with an example dairy herd created using data from DairyMetrics (Dairy Records Management Systems, Raleigh, NC), Food and Agricultural Policy Research Institute (Columbia, MO), and published literature. Resulting herd size, rolling herd average milk production, milk price, and feed cost were 323 cows, 10,758kg, $0.41/kg, and $0.20/kg of dry matter, respectively. Automated estrus detection technologies with 2 levels of initial system cost (low: $5,000 vs. high: $10,000), tag price (low: $50 vs. high: $100), and estrus detection rate (low: 60% vs. high: 80%) were compared over a 7-yr investment period. Four scenarios were considered in a demonstration of the investment analysis tool: (1) a herd using 100% visual observation for estrus detection before adopting 100% AED, (2) a herd using 100% visual observation before adopting 75% AED and 25% visual observation, (3) a herd using 100% timed artificial insemination (TAI) before adopting 100% AED, and (4) a herd using 100% TAI before adopting 75% AED and 25% TAI. Net present value in scenarios 1 and 2 was always positive, indicating a positive investment situation. Net present value in scenarios 3 and 4 was always positive in combinations using a $50 tag price, and in scenario 4, the $5

Improving Business Investment Confidence in Culture-Aligned Indigenous Economies in Remote Australian Communities: A Business Support Framework to Better Inform Government Programs

Directory of Open Access Journals (Sweden)

Ann E. Fleming

2015-06-01

Full Text Available There is significant evidence that culture-aligned economies are more effective in engaging remote-living Indigenous Australians in work long-term. Despite this evidence, governments remain resistant to investing substantially in these economies, with the result that low employment rates persist. This article argues that governmental systems of organisation are not designed to support non-mainstream economies and this position is unlikely to change. Similarly, the commercial sector lacks confidence that investing in culture-aligned economies will generate financial returns. This article presents a localised, pragmatic approach to Indigenous business support that works within existing systems of government, business and culture. Most unsuccessful programs fail to recognise the full suite of critical factors for sustained market engagement by both business and Indigenous people. This article reports on work to bring all critical factors together into a business support framework to inform the design and implementation of an aquaculture development program in a remote Indigenous Australian community.

Capital budgeting under relational contracting: optimal ranking and duration criteria for schemes of concession, project-financing and public-private partnership

OpenAIRE

Biondi, Yuri

2009-01-01

International audience; Project-financing and public-private partnership schemes are joint projects of investment that are generally submitted to investment valuation criteria based on compound discounting. However, the theoretical basis of these criteria is at issue nowadays. According to recent studies on relational contracting economics and behavioral finance, joint projects of investment can be considered as special relational environments where the project's returns improve on alternativ...

Financing for Infrastructure Investment in G-20 Countries.

OpenAIRE

Sengupta, Ramprasad; Mukherjee, Sacchidananda; Gupta, Manish

2015-01-01

This study looks into various sources of financing infrastructure and the demands for infrastructure investments and highlights the mismatch between demand and supply of funds for infrastructure financing in India. In order to address this mismatch, and given the constraints of traditional sources of infrastructure finance in India, this paper suggests credit enhancement scheme (CES) as an alternative framework for mobilizing long-term infrastructure finance. It suggests for scaling up CES as...

Economic simulation to support investment decisions in pig farming

NARCIS (Netherlands)

Backus, G.B.C.

1994-01-01

The study described in this thesis focuses on the development and use of a model that simulates the consequences of long-term investment decisions in pig farming. The thesis is composed of six parts. Chapter 1 deals with a basic review of the literature on strategic planning under risk and

2012 Ten-year scheme of network development

International Nuclear Information System (INIS)

2012-01-01

RTE, an independent subsidiary of EDF, is the French electricity transmission system operator. It is a public service company responsible for operating, maintaining and developing the high and extra high voltage network. It guarantees the reliability and proper operation of the power network. RTE transports electricity between electricity suppliers (French and European) and consumers, whether they are electricity distributors or industrial consumers directly connected to the transmission system. The mission of RTE is to balance the electricity supply and demand in real time. With the support of the government authorities, RTE prepares a ten-year scheme of network development in France; This document presents the main electricity transport infrastructures to foresee within the ten coming years and lists the network development investments which must be realised and implemented within 3 years. The document is updated each year and comes to complement at the national level the European ten year network development plan (TYNDP) and the European regional plans as provided for in the 2009/72/CE European directive

Ten-year scheme of network development - 2011

International Nuclear Information System (INIS)

2011-01-01

RTE, an independent subsidiary of EDF, is the French electricity transmission system operator. It is a public service company responsible for operating, maintaining and developing the high and extra high voltage network. It guarantees the reliability and proper operation of the power network. RTE transports electricity between electricity suppliers (French and European) and consumers, whether they are electricity distributors or industrial consumers directly connected to the transmission system. The mission of RTE is to balance the electricity supply and demand in real time. With the support of the government authorities, RTE prepares a ten-year scheme of network development in France; This document presents the main electricity transport infrastructures to foresee within the ten coming years and lists the network development investments which must be realised and implemented within 3 years. The document is updated each year and comes to complement at the national level the European ten year network development plan (TYNDP) and the European regional plans as provided for in the 2009/72/CE European directive

Assessment of Growth Enhancement Support Scheme among Rice ...

African Journals Online (AJOL)

USER

result of the findings showed that the scheme had very low performance indices in ... direct fertilizer purchase and distribution, and introduce an alternative system of distribution ... effective delivery of yield-increasing farm input (FRN, 2013). ..... telecommunications service providers, making it difficult to get their packages.

A hybrid sales forecasting scheme by combining independent component analysis with K-means clustering and support vector regression.

Science.gov (United States)

Lu, Chi-Jie; Chang, Chi-Chang

2014-01-01

Sales forecasting plays an important role in operating a business since it can be used to determine the required inventory level to meet consumer demand and avoid the problem of under/overstocking. Improving the accuracy of sales forecasting has become an important issue of operating a business. This study proposes a hybrid sales forecasting scheme by combining independent component analysis (ICA) with K-means clustering and support vector regression (SVR). The proposed scheme first uses the ICA to extract hidden information from the observed sales data. The extracted features are then applied to K-means algorithm for clustering the sales data into several disjoined clusters. Finally, the SVR forecasting models are applied to each group to generate final forecasting results. Experimental results from information technology (IT) product agent sales data reveal that the proposed sales forecasting scheme outperforms the three comparison models and hence provides an efficient alternative for sales forecasting.

Combined heat and power in the Swedish district heating sector-impact of green certificates and CO2 trading on new investments

International Nuclear Information System (INIS)

Knutsson, David; Werner, Sven; Ahlgren, Erik O.

2006-01-01

Combined heat and power (CHP) has been identified by the EU administration as an important means of reducing CO 2 -emissions and increasing the energy efficiency. In Sweden, only about one third of the demand for district heat (DH) is supplied from CHP. This share could be significantly larger if the profitability of CHP generation increased. The objective of this study was to analyse the extent to which the profitability for investments in new CHP plants in the Swedish DH sector have changed thanks to the recently implemented trading schemes for green certificates (TGCs) and CO 2 emissions (TEPs). The analysis was carried out using a simulation model of the Swedish DH sector in which the profitability of CHP investments for all DH systems, with and without the two trading schemes applied, is compared. In addition, a comparison was made of the changes in CHP generation, CO 2 emissions, and operation costs if investments are made in the CHP plant shown to be most profitable in each system according to the model. The study shows that the profitability of investments in CHP plants increased significantly with the introductions of TGC and TEP schemes. If all DH utilities also undertook their most profitable CHP investments, the results indicate a major increase in power generation which, in turn, would reduce the CO 2 emissions from the European power sector by up to 13 Mton/year, assuming that coal condensing power is displaced

The Local Social and Environmental Impacts of Smallholder-Based Biofuel Investments in Zambia

Directory of Open Access Journals (Sweden)

Laura German

2011-12-01

Full Text Available High oil prices, recent commitments by industrialized countries to enhance the use of renewable energy, and efforts by developing countries to stimulate foreign investment as a pathway to development have fueled high levels of interest in the biofuel sector throughout much of sub-Saharan Africa. Zambia is no exception. A large, land-locked country with high pump prices and vast tracts of land considered by many to be "degraded" or "underutilized," investor interest in the sector has remained high despite uncertainties associated with unproven feedstocks and market fluctuations. While investment in multiple feedstock and production models may be observed, one of the primary investments has been in jatropha outgrower schemes in which small-scale farmers grow feedstock on contract with domestic and foreign investors. We assess the history and evolution of the largest such scheme in Zambia, as well as the social and environmental impacts in two districts with large numbers of outgrowers. Findings suggest that, although such a production model may hold promise for enhancing rural livelihood benefits from the emerging biofuel sector, to date, small-scale farmers have borne the brunt of the risk and uncertainty that are the trademarks of this emerging industry. We conclude with a discussion of options to minimize forest conversion and protect farmers against high-risk investments, while harnessing the potential of this business model for enhancing rural livelihoods in Zambia and elsewhere.

A Peer-Mentoring Scheme for Immigrant Students in English Secondary Schools: A Support Mechanism for Promoting Inclusion?

Science.gov (United States)

Messiou, Kyriaki; Azaola, Marta Cristina

2018-01-01

Immigration in Europe has increased rapidly over the last years. As a result, schools are accepting students arriving from other countries at various stages of the school year. This can be a challenging process both for students and for schools. This paper describes the introduction of a peer-mentoring scheme to support immigrant students in three…

The Investment Capacities of the Ukrainian Economy the EU countries

Directory of Open Access Journals (Sweden)

O. S.

2017-02-01

Full Text Available The article deals with selected aspects of investment in the context of the enhanced competition at investment markets and the need to increase the investment performance. A review of literary sources shows that investment capacities essentially refer to the economy’s capability to fund processes or phases related with generation of innovation, formation and modernization of fixed assets or intangible assets; development of education, research and information sectors; reproduction, support and creation of national wealth. It is emphasized that formation and realization of investment capacities in the economy can be attributed to processes that have significant effects for economic performance in the long run, especially when the capacities are innovative. The author’s definition of investment capacities of the economy is given, as the capacity to support financially the upward investment trend through accumulating fixed capital and increasing the profit rate from its generation in current and medium-term periods. The existing methodology for assessment of investment capacities at country level is analyzed; recommendations to improve the system of aggregated investment statistics, taking into account the Eurostat methodology, are given. Statistical indicators measuring the investment capacities in EU countries and Ukraine are analyzed. The analysis shows that the investment rate in Ukrainian industrial enterprises was 21.8% in 2014 and 19.6% in 2015, giving an indication of downward investment trend and the shrinking investment capacities of the national economy. Growth in the share of profit in the value added in 2015 by 6.7 percentage points (to 47.3% compared with 2014 is evidence that instead of investing internal resources, enterprises use them to cover financial loses or tend to take them off the national boundaries. Upward investment trend can be recovered by the increased supply of investment projects with low level of investment risk

Sensor proxy mobile IPv6 (SPMIPv6)--a novel scheme for mobility supported IP-WSNs.

Science.gov (United States)

Islam, Md Motaharul; Huh, Eui-Nam

2011-01-01

IP based Wireless Sensor Networks (IP-WSNs) are gaining importance for their broad range of applications in health-care, home automation, environmental monitoring, industrial control, vehicle telematics and agricultural monitoring. In all these applications, mobility in the sensor network with special attention to energy efficiency is a major issue to be addressed. Host-based mobility management protocols are not suitable for IP-WSNs because of their energy inefficiency, so network based mobility management protocols can be an alternative for the mobility supported IP-WSNs. In this paper we propose a network based mobility supported IP-WSN protocol called Sensor Proxy Mobile IPv6 (SPMIPv6). We present its architecture, message formats and also evaluate its performance considering signaling cost, mobility cost and energy consumption. Our analysis shows that with respect to the number of IP-WSN nodes, the proposed scheme reduces the signaling cost by 60% and 56%, as well as the mobility cost by 62% and 57%, compared to MIPv6 and PMIPv6, respectively. The simulation results also show that in terms of the number of hops, SPMIPv6 decreases the signaling cost by 56% and 53% as well as mobility cost by 60% and 67% as compared to MIPv6 and PMIPv6 respectively. It also indicates that proposed scheme reduces the level of energy consumption significantly.

Does Foreign Aid Increase Foreign Direct Investment?

DEFF Research Database (Denmark)

Selaya, Pablo; Sunesen, Eva Rytter

  The notion that foreign aid and foreign direct investment (FDI) are complementary sources of capital is conventional among governments and international cooperation agencies. This paper argues that the notion is incomplete. Within the framework of an open economy Solow model we show...... that the theoretical relationship between foreign aid and FDI is indeterminate. Aid may raise the marginal productivity of capital by financing complementary inputs, such as public infrastructure projects and human capital investment. However, aid may also crowd out productive private investments if it comes...... in the shape of physical capital transfers. We therefore turn to an empirical analysis of the relationship between FDI and disaggregated aid flows. Our results strongly support the hypotheses that aid invested in complementary inputs draws in foreign capital while aid invested in physical capital crowds out...

Evaluating the Influence of Criteria to Attract Foreign Direct Investment (FDI to Develop Supporting Industries in Vietnam by Utilizing Fuzzy Preference Relations

Directory of Open Access Journals (Sweden)

Tien-Chin Wang

2016-05-01

Full Text Available In the early 2000s, Vietnam’s government concentrated on the promotion of supporting industries which can be seen as a “key” solution to sustaining economic growth, thereby improving the national welfare. However, Vietnam’s supporting industries still exhibit lower development and competitive weakness. The main reason for this condition is due to a lack of capital, technological innovation, and necessary management skills for development. Therefore, attracting foreign direct investment (FDI for developing supporting industries offers the best strategy to realize this solution. However, attracting FDI to develop supporting industries represents a weakness which lies in both the quantity (total capital and projects and quality of investment. So which factors are effective to attract FDI for developing supporting industries in Vietnam? This investigation establishes an analytical hierarchy framework available to the Vietnamese government and to policymakers in order to evaluate the influence of criteria needed to attract FDI for developing supporting industries based on eight main criteria. They include legal and institutional criteria, the market size of supporting industries, human resources, infrastructure facilities, technological development and innovation, domestic supply capacity, international cooperation and competition, and other criteria. This paper uses fuzzy preference relations (FPR to evaluate the influence of criteria necessary to attract FDI for developing supporting industries, and these analytical results demonstrate that legal and institutional criteria, domestic supply capacity, human resources, technology development and innovation are all major considerations for attracting FDI.

Barriers to Co-Contribution in Superannuation: a Comparative Assessment of the Financial Benefits of Scheme Participation

Directory of Open Access Journals (Sweden)

Aaron Bruhn

2013-09-01

Full Text Available Voluntary superannuation contributions provide a means for individuals to top-up their savings in a tax advantaged environment. In order to encourage voluntary contributions the government instituted the cocontribution scheme in 2003. Under the existing scheme, within a given financial year the government contributes up to a maximum of $500 when an individual on a low income makes a voluntary contribution of up to $1,000. Despite the apparent financial attractiveness of the scheme, participation among eligible persons is low. Reasons may include competing expenditure needs leading to a lack of sufficient funds for contribution, lack of trust in the system given regular changes to superannuation policy, and behavioural reasons including a short-term rather than long-term focus, procrastination from uncertainty and fear of regret, and loss aversion. In this paper we investigate another possible reason for low participation, namely poor financial opportunity cost. While an immediate 50% investment return may appear to be a ‘no-brainer’, for eligible individuals or families with mortgages, scheme participation may in fact not be optimal. We investigate the relative benefit of scheme participation versus reducing a mortgage, and conclude that while participation is sensible for those with short remaining mortgage terms, for those with longer mortgage terms the decision to participate may not be preferred unless one assumes generous long-term superannuation investment returns, or unless scheme participation is intended year on year for long durations.

Analyses of models for promotion schemes and ownership arrangements

DEFF Research Database (Denmark)

Hansen, Lise-Lotte Pade; Schröder, Sascha Thorsten; Münster, Marie

2011-01-01

countries should opt to support stationary fuel cells, we find that in Denmark it would be promising to apply the net metering based support scheme for households with an electricity consumption exceeding the electricity production from the fuel cell. In France and Portugal the most promising support scheme...

Deterministic Simulation of Alternative Breeding Objectives and Schemes for Pure Bred Cattle in Kenya

International Nuclear Information System (INIS)

Kahi, A.K.

2002-01-01

Alternative breeding objectives and schemes for milk production were evaluated for their economic efficiency using deterministic simulation. A two-tier open nucleus breeding scheme and a young bull system (YBS) were assumed with intensive recording and 100% artificial insemination (AI) in the nucleus and 35% AI in the commercial population, which was assumed to comprise of the smallholder herds. Since most production systems are dual purpose, breeding objectives were defined, which represented different scenarios. These objectives represented the present (objective 1- dual purpose), smallholder (objective 2- dual purpose with limited mature live weight) and future production situations (objective 3- dual purpose with fat based milk price). Breeding objectives differed in the trials included and their economic values while the breeding schemes differed in records available for use as selection criteria as well as in the costs and investment parameters. since the main question for establishing a breeding and recording programme is that of efficiency of investment, the monetary genetic response and profit per cow in the population were used as evaluation criteria. All breeding objectives and schemes realized profits. The objectives and schemes that ranked highly for annual monetary genetic response and total return per cow did not rank the same in profit per cow in all cases. In objective 3, the scheme that assumed records on fat yield (FY) were available for use as selection criterion and that, which assumed no records on FY,differed very little in profit per cow (approximately 4%). Therefore, under the current production and marketing conditions, a breeding scheme that requires measuring of the fat content does not seem to be justified from an economic point of view. There is evidence that a well-organised breeding programme utilizing an open nucleus, a YBS and the smallholder farms as well as commercial population could sustain itself

12 CFR 956.4 - Risk-based capital requirement for investments.

Science.gov (United States)

2010-01-01

... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Risk-based capital requirement for investments... OFF-BALANCE SHEET ITEMS FEDERAL HOME LOAN BANK INVESTMENTS § 956.4 Risk-based capital requirement for investments. Each Bank shall hold retained earnings plus general allowance for losses as support for the...

Country policy profile - Finland. December 2015

International Nuclear Information System (INIS)

2015-12-01

Electricity biogas, biomass, and wind is supported through a premium tariff. Furthermore, Finland promotes RES through two subsidy schemes. A state grant for investment in RES supports sustainable energy research projects as well as renewable energy production facilities. A second subsidy scheme provides investment support to farmers investing in facilities producing heat from RES. A price-based mechanism, the so-called 'Heat bonus' that is a fixed payment per MWh, promotes cogeneration of heat and electricity from biogas and biomass (RES LEGAL Europe, 2014)

Country policy profile - Finland. August 2015

International Nuclear Information System (INIS)

2015-08-01

Electricity biogas, biomass, and wind is supported through a premium tariff. Furthermore, Finland promotes RES through two subsidy schemes. A state grant for investment in RES supports sustainable energy research projects as well as renewable energy production facilities. A second subsidy scheme provides investment support to farmers investing in facilities producing heat from RES. A price-based mechanism, the so-called 'Heat bonus' that is a fixed payment per MWh, promotes cogeneration of heat and electricity from biogas and biomass (RES LEGAL Europe, 2014)

Dutch Energy Investment Allowance (EIA). Energy and Companies. Energy List for 2007; Energie-Investeringsaftrek. Energie en Bedrijven. Energielijst 2007

Energy Technology Data Exchange (ETDEWEB)

NONE

2007-07-01

The EIA scheme (Energy Investment Allowance) offers a fiscal advantage when investing in energy-saving company assets and sustainable energy. In addition to the usual depreciation rate, 44% of the investment costs of these assets are deductible from the fiscal profit. The Dutch government uses the EIA scheme to promote a sustainable energy management that, in the long term, results in clean, available and affordable energy. Section 1 of this brochure lists the changes compared to 2006. Section 2 explains how the EIA scheme works. Section 3 explains how to apply for the allowance. Section 4 provides additional information concerning the Energy List. Section 5 includes an overview, with descriptions and examples, of energy investments (Energy List). Section 6 explains how to submit a proposal for additions or changes to the scheme for 2008, compared to 2007. Section 7 contains an application form for EIA, along with an authorisation form. [Dutch] De Energie-investeringsaftrek (EIA) biedt ondernemers een belastingvoordeel als er wordt geinvesteerd in energiebesparende bedrijfsmiddelen en duurzame energie. Naast de gebruikelijke afschrijving is 44% van de investeringskosten van deze bedrijfsmiddelen aftrekbaar van de fiscale winst. In deel 1 van deze brochure vindt u de wijzigingen ten opzichte van het jaar 2006. In deel 2 treft u een uitleg aan over de werking van de EIA. In deel 3 leest u hoe u gebruik kunt maken van deze regeling. In deel 4 staat de toelichting op de energielijst. In deel 5 is een overzicht opgenomen met omschrijvingen en voorbeelden van energie-investeringen, de zogenoemde Energielijst. In deel 6 is aangegeven hoe u een voorstel kunt doen om de Energielijst van 2007 aan te vullen of te wijzigen voor 2008. Het meldingsformulier om EIA aan te vragen en het machtigingsformulier zijn opgenomen bij deel 7.

Emissions trading and investment decisions in the power sector-a case study in Finland

International Nuclear Information System (INIS)

Laurikka, Harri; Koljonen, Tiina

2006-01-01

Organizations, which consider investment in or divestment of power production licences/capacity within the European Community, are exposed to the impacts of the European Union Emission allowance Trading Scheme (EU ETS). In this paper, the consequences of the EU ETS on investment decisions are explored in a country-specific setting in Finland. First, we review the general mechanisms through which the EU ETS influences size, timing and cashflows of an investment. Next, we discuss the projected changes in Finnish power producers' investment environment and examine the financial impacts due to the EU ETS on a case investment decision, a hypothetical condensing power plant (250 MW e ). The standard discounted cash flow (DCF) analysis is extended to take into account the value of two real options: the option to wait and the option to alter operating scale. In a quantitative investment appraisal, the impact of emissions trading not only depends on the expected level of allowance prices, but also on their volatility and correlation with electricity and fuel prices. The case study shows that the uncertainty regarding the allocation of emission allowances is critical in a quantitative investment appraisal of fossil fuel-fired power plants

Testing evolutionary theories of discriminative grandparental investment.

Science.gov (United States)

Kaptijn, Ralf; Thomese, Fleur; Liefbroer, Aart C; Silverstein, Merril

2013-05-01

This study tests two evolutionary hypotheses on grandparental investments differentiated by the child's sex: the paternity uncertainty hypothesis and the Trivers-Willard hypothesis. Data are from two culturally different countries: the Dutch Longitudinal Aging Study Amsterdam (n=2375) and the Chinese Anhui Survey (n=4026). In the Netherlands, grandparental investments are biased towards daughters' children, which is in accordance with the paternity uncertainty hypothesis. But in China, grandparental investments are biased towards sons' children, which is in conflict with the paternity uncertainty hypothesis. This study found no support for the Trivers-Willard hypothesis. These results raise doubts over the relevance of paternity uncertainty as an explanation of a grandparental investment bias towards daughters' children that is often found in Western populations. The results suggest that discriminative grandparental investments are better understood as the outcome of cultural prescriptions and economic motives.

Smarter finance for cleaner energy: open up master limited partnerships (MLPs) and real estate investment trusts (REITs) to renewable energy investment

Energy Technology Data Exchange (ETDEWEB)

Mormann, Feliz; Reicher, Dan

2012-11-15

Master Limited Partnerships (MLPs) and Real Estate Investment Trusts (REITs)—both well-established investment structures—should be opened up to renewable energy investment. MLPs and, more recently, REITs have a proven track record for promoting oil, gas, and other traditional energy sources. When extended to renewable energy projects these tools will help promote growth, move renewables closer to subsidy independence, and vastly broaden the base of investors in America’s energy economy. The extension of MLPs and REITs to renewables enjoys significant support from the investment and clean energy communities. In addition, MLPs for renewables also enjoy bipartisan political backing in Congress.

Navigators’ Behavior in Traffic Separation Schemes

Directory of Open Access Journals (Sweden)

Zbigniew Pietrzykowski

2015-03-01

Full Text Available One of the areas of decision support in the navigational ship conduct process is a Traffic Separation Scheme. TSSs are established in areas with high traffic density, often near the shore and in port approaches. The main purpose of these schemes is to improve maritime safety by channeling vessel traffic into streams. Traffic regulations as well as ships behavior in real conditions in chosen TSSs have been analyzed in order to develop decision support algorithms.

Investment requirements in the energy sector and their financing

Energy Technology Data Exchange (ETDEWEB)

Diel, R; Radtke, G; Stoesel, R

1981-06-01

The present research study illustrates the required volume of investment in the energy sector during the next two decades while referring explicitly to the availability of financial resources. The data for the respective primary energy sources and electric power production relate to the Federal Republic of Germany; still, as far as figures were available, the energy situation of the Western World is taken into account. Starting from the premise that energy needs will continue to grow - albeit at a slower rate -, future investment activity will have to depart from past trends, with their more or less evenly spread recourse to all available primary energy sources, to a substantial reliance on nuclear energy, coal and natural gas as against oil. In addition to the higher capital requirements due to the restructuring of the energy supply, future investment will be characterized by particularly capital-intensive projects and, in addition, by the fact that expensive development schemes must be vigorously pursued. This applies not only to coal gasification and liquifaction but also to regenerative energy sources.

Ten-year scheme of network development - 2013 edition

International Nuclear Information System (INIS)

2013-01-01

RTE, an independent subsidiary of EDF, is the French electricity transmission system operator. It is a public service company responsible for operating, maintaining and developing the high and extra high voltage network. It guarantees the reliability and proper operation of the power network. RTE transports electricity between electricity suppliers (French and European) and consumers, whether they are electricity distributors or industrial consumers directly connected to the transmission system. The mission of RTE is to balance the electricity supply and demand in real time. With the support of the government authorities, RTE prepares a ten-year scheme of network development in France; This document presents the main electricity transport infrastructures to foresee within the ten coming years and lists the network development investments which must be realised and implemented within 3 years. The document is updated each year and comes to complement at the national level the European ten year network development plan (TYNDP) and the European regional plans as provided for in the 2009/72/CE European directive

Community wind power ownership schemes in Europe and their relevance to the United States

Energy Technology Data Exchange (ETDEWEB)

Bolinger, Mark

2001-05-15

With varying success, the United States and Europe have followed a more or less parallel path of policies to support wind development over the past twenty years. Feed-in laws and tax incentives first popularized in California in the early 1980s and greatly expanded upon in Europe during the 1990s are gradually giving way to market-based support mechanisms such as renewable portfolio standards, which are being implemented in one form or another in ten US states and at least three European nations. At the same time, electricity markets are being liberalized in both the US and Europe, and many electricity consumers are being given the choice to support the development of renewable energy through higher tariffs, both in traditionally regulated and newly competitive markets. One notable area in which wind development in Europe and United States has not evolved in common, however, is with respect to the level of community ownership of wind turbines or clusters. While community ownership of wind projects is unheard of in the United States, in Europe, local wind cooperatives or other participatory business schemes have been responsible for a large share of total wind development. In Denmark, for example, approximately 80% of all wind turbines are either individually or cooperatively owned, and a similar pattern holds in Germany, the world leader in installed wind capacity. Sweden also has a strong wind cooperative base, and the UK has recently made forays into community wind ownership. Why is it that wind development has evolved this way in Europe, but not in the United States? What incremental effect have community-owned wind schemes had on European wind development? Have community-owned wind schemes driven development in Europe, or are they merely a vehicle through which the fundamental driving institutions have been channeled? Is there value to having community wind ownership in the US? Is there reason to believe that such schemes would succeed in the US? If so, which

Sustainable Markets Investment Briefings: Investment Treaties

Energy Technology Data Exchange (ETDEWEB)

Cotula, Lorenzo

2007-08-15

This is the second of a series of briefings which discuss the sustainable development issues raised by legal arrangements for the protection of foreign investment. The briefings are based on legal research by IIED and its partners. The goal is to provide accessible but accurate information for human rights, development and environmental organisations working on issues raised by foreign investment in low- and middle-income countries. Briefing 2 explains how investment treaties between states work to protect and promote foreign investment.

Risk implications of renewable support instruments: Comparative analysis of feed-in tariffs and premiums using a mean–variance approach

International Nuclear Information System (INIS)

Kitzing, Lena

2014-01-01

Different support instruments for renewable energy expose investors differently to market risks. This has implications on the attractiveness of investment. We use mean–variance portfolio analysis to identify the risk implications of two support instruments: feed-in tariffs and feed-in premiums. Using cash flow analysis, Monte Carlo simulations and mean–variance analysis, we quantify risk-return relationships for an exemplary offshore wind park in a simplified setting. We show that feed-in tariffs systematically require lower direct support levels than feed-in premiums while providing the same attractiveness for investment, because they expose investors to less market risk. These risk implications should be considered when designing policy schemes. - Highlights: • Mean–variance portfolio approach to analyse risk implications of policy instruments. • We show that feed-in tariffs require lower support levels than feed-in premiums. • This systematic effect stems from the lower exposure of investors to market risk. • We created a stochastic model for an exemplary offshore wind park in West Denmark. • We quantify risk-return, Sharpe Ratios and differences in required support levels

Companies investments on Private Equity/Venture Capital market

Directory of Open Access Journals (Sweden)

Zbigniew Drewniak

2009-12-01

Full Text Available One of the investors on Private Equity/Venture Capital market are corporations. The share of companies in total funds raised by PE/VC funds is still on the very low level. Beside indirect investments, companies invest directly, creating special entities in one corporate structure. Capital gains are one of the advantages of these investments for companies. However, the companies have also other purposes like the acquirement and the development of new technologies, as well as the transfer of knowledge. The participation of PE/VC fund in the investment process results in the support for company expansion and the creation of company value.

Barriers to investment in emerging power markets

Energy Technology Data Exchange (ETDEWEB)

Beardsworth, Jr, J J [Hunton and Williams, Richmond, VA (United States)

1994-12-31

Investing in private power projects in developing countries is a very different issue from investment in the US or the UK. There are many investment barriers not present in developed nations. Firstly investment barriers need to be identified. Trouble may be encountered with legal authorization; the regulatory framework; government guarantees; fuel supply security; lender protection; labour laws and local commercial restrictions such as profits repatriation, currency convertibility, and taxes. Political barriers may also be encountered in the form of: government commitments and support; funding sources; political unrest; religion; and relationships with other countries. Investment barriers may be minimised by persuading the government to remove any legal barriers; the contract has then to be agreed. Factors in a successful contract include: power purchase agreements; fuel agreements; and implementation agreements. It is vital to have a source of information on local rules and customs, by working with local companies and employing local attorneys.

Investment innovation trends: Factor-based investing

Directory of Open Access Journals (Sweden)

Sanja Centineo

2017-05-01

Full Text Available This article shows that it can take a long period of time until research knowledge finds its application in practice and get disseminated as innovation trend. Factor-based investing is such an example. Having its developing roots in the nineties, it took more than two decades until this approach was detected by the by investment community. The goal of this article is to recall the definition of factor investing, present its historical evolvement and motivate its recent break-through and current trend among investment practitioners (known also under the notion smart beta. It aims at familiarizing with this investment approach from a practical perspective and highlighting its diversifying benefits in a portfolio context with the potential to outperform the market on risk-adjusted basis.

Short communication: East-West European farm investment behaviour - The role of financial constraints and public support

Directory of Open Access Journals (Sweden)

Imre Fertő

2017-04-01

Full Text Available The article investigated farm investment behaviour among East (Hungarian and Slovenian and West (French European Union farms using individual farm accountancy panel data for the 2003-2008 period. Despite differences in farm structures, except for the presence of capital market imperfections evidenced in the East, farms’ investment behaviour was not substantially different. Farm gross investment was positively associated with real sales’ growth. In addition, it was positively associated with public investment subsidies which can mitigate capital market imperfections in the short-term. On the long run, the farm’s ability to successfully compete in the output market by selling produce and securing a sufficient cash flow for investment is crucial.

Employment impacts of energy conservation schemes in the residential sector. Calculation of direct and indirect employment effects using a dedicated input/output simulation approach

International Nuclear Information System (INIS)

Jeeninga, H.; Weber, C.; Maeenpaeae, I.; Rivero Garcia, F.; Wiltshire, V.; Wade, J.

1999-10-01

The relationship between investments in energy efficiency and employment is investigated. The employment effects of several energy conservation schemes implemented in the residential sector are determined by means of a dedicated input/output simulation approach. The employment effects of energy conservation schemes were determined for France, Germany, the Netherlands, Spain and the United Kingdom. Within the time frame of the project, it was not feasible to perform a comparable analysis for Greece, Ireland and Austria. For Finland, the employment effects of energy auditing schemes were investigated by means of a macro economic simulation model. The main driving force behind the positive employment effect of investment in energy efficiency in the residential sector is the fact that the energy sector has a rather low labour intensity. The resulting shift of expenditures from the energy sector to other sectors with higher labour intensity leads to increased employment. The main mechanisms that determine the net shift in employment resulting from investments in energy conservation are: 1. The employment effect related to the initial investment in energy efficiency; 2. The energy saving effect. Due to lower energy bill, a shift in expenditure pattern will occur from the labour extensive energy sector towards sectors with higher labour intensity, thus inducing a net positive effect on employment; 3. The effects of money transfers between sectors. For example, when the investment is subsidised by the government, money is transferred from the governmental sector to the residential sector; 4. Changes in the total government budget as a result of changes in total tax revenue and expenditures on unemployment benefits. Different financing methods for the investment in energy efficiency are analysed. The initial investment can be financed from the general household consumption budget, by means of a loan, using a subsidy or using private savings. The following input parameters

US Investment Treaties and Labor Standards

Directory of Open Access Journals (Sweden)

Kwan-Ho Kim

2006-06-01

Full Text Available Korea and the United States declared the start of negotiations for the establishment of a free trade agreement. The FTA will include investment chapter. That means the Korea-US BIT (Bilateral Investment Treaty talk, which has been deadlocked since 1998, resumes as a part of FTA negotiations. The FTA investment chapter will be based on the US model BIT, which has been updated in 2004. The updated BIT version includes labor clause which provides that parties should not weaken labor standards in an effort to attract foreign investment. This clause is grounded on the criticism raised by labor groups which asserts that competition among countries to attract foreign investment leads to bidding wars in labor standards. No solid evidence is found in support of the hypothesis that foreign investors favor countries with lower labor standards. Nonetheless, some countries have offered special incentives to investors that limit labor rights in the belief that doing so would help attract foreign investment, especially in export processing or special economic zones. In this regard, the Korea's Act on free economic zones which provides exceptional labor standards to foreign invested enterprise in those zones may become an issue in reaching the FTA. This article contemplates the "not lowering labor standards" provision in the US BIT model and its implications on the FTA talks with the US.

Investments by NASA to build planetary protection capability

Science.gov (United States)

Buxbaum, Karen; Conley, Catharine; Lin, Ying; Hayati, Samad

NASA continues to invest in capabilities that will enable or enhance planetary protection planning and implementation for future missions. These investments are critical to the Mars Exploration Program and will be increasingly important as missions are planned for exploration of the outer planets and their icy moons. Since the last COSPAR Congress, there has been an opportunity to respond to the advice of NRC-PREVCOM and the analysis of the MEPAG Special Regions Science Analysis Group. This stimulated research into such things as expanded bioburden reduction options, modern molecular assays and genetic inventory capability, and approaches to understand or avoid recontamination of spacecraft parts and samples. Within NASA, a portfolio of PP research efforts has been supported through the NASA Office of Planetary Protection, the Mars Technology Program, and the Mars Program Office. The investment strategy focuses on technology investments designed to enable future missions and reduce their costs. In this presentation we will provide an update on research and development supported by NASA to enhance planetary protection capability. Copyright 2008 California Institute of Technology. Government sponsorship acknowledged.

Sensor Proxy Mobile IPv6 (SPMIPv6)—A Novel Scheme for Mobility Supported IP-WSNs

Science.gov (United States)

Islam, Md. Motaharul; Huh, Eui-Nam

2011-01-01

IP based Wireless Sensor Networks (IP-WSNs) are gaining importance for their broad range of applications in health-care, home automation, environmental monitoring, industrial control, vehicle telematics and agricultural monitoring. In all these applications, mobility in the sensor network with special attention to energy efficiency is a major issue to be addressed. Host-based mobility management protocols are not suitable for IP-WSNs because of their energy inefficiency, so network based mobility management protocols can be an alternative for the mobility supported IP-WSNs. In this paper we propose a network based mobility supported IP-WSN protocol called Sensor Proxy Mobile IPv6 (SPMIPv6). We present its architecture, message formats and also evaluate its performance considering signaling cost, mobility cost and energy consumption. Our analysis shows that with respect to the number of IP-WSN nodes, the proposed scheme reduces the signaling cost by 60% and 56%, as well as the mobility cost by 62% and 57%, compared to MIPv6 and PMIPv6, respectively. The simulation results also show that in terms of the number of hops, SPMIPv6 decreases the signaling cost by 56% and 53% as well as mobility cost by 60% and 67% as compared to MIPv6 and PMIPv6 respectively. It also indicates that proposed scheme reduces the level of energy consumption significantly. PMID:22319386

Sensor Proxy Mobile IPv6 (SPMIPv6—A Novel Scheme for Mobility Supported IP-WSNs

Directory of Open Access Journals (Sweden)

Md. Motaharul Islam

2011-02-01

Full Text Available IP based Wireless Sensor Networks (IP-WSNs are gaining importance for their broad range of applications in health-care, home automation, environmental monitoring, industrial control, vehicle telematics and agricultural monitoring. In all these applications, mobility in the sensor network with special attention to energy efficiency is a major issue to be addressed. Host-based mobility management protocols are not suitable for IP-WSNs because of their energy inefficiency, so network based mobility management protocols can be an alternative for the mobility supported IP-WSNs. In this paper we propose a network based mobility supported IP-WSN protocol called Sensor Proxy Mobile IPv6 (SPMIPv6. We present its architecture, message formats and also evaluate its performance considering signaling cost, mobility cost and energy consumption. Our analysis shows that with respect to the number of IP-WSN nodes, the proposed scheme reduces the signaling cost by 60% and 56%, as well as the mobility cost by 62% and 57%, compared to MIPv6 and PMIPv6, respectively. The simulation results also show that in terms of the number of hops, SPMIPv6 decreases the signaling cost by 56% and 53% as well as mobility cost by 60% and 67% as compared to MIPv6 and PMIPv6 respectively. It also indicates that proposed scheme reduces the level of energy consumption significantly.

A SUPPORTING AID FOR BEEF CATTLE INVESTMENT OF FARM HOUSEHOLD IN CENTRAL JAVA

Directory of Open Access Journals (Sweden)

T. Ekowati

2014-10-01

Full Text Available The research was conducted to analyze some factors influencing production, income, farmhousehold consumption and investment of farm household beef cattle in Central Java. Five districts werepurposively chosen for research location based on the number of beef cattle population, namelyRembang, Blora, Grobogan, Boyolali and Wonogiri. Forty respondents of each district were chosenrandomly using quota sampling. Data were analyzed through Simultaneous Regression and estimated byTwo Stage Least Square (TSLS. The results showed that independent variables were simultaneouslysignificant to dependent variables (production, income, farm household consumption and investmentwith the Probability F test 0.0000 and adjusted R2 were 91%; 89%; 96%; 62%, respectively. Thesimulation’s analysis of agribusiness implementation consisted of 1 decreasing 15% of service perconception, 2 increasing of beef cattle breed and number of beef cattle 15% respectively, 3 raising ofprice of rice and number of household member 15% respectively and 4 increasing of income and priceof beef cattle 10% respectively influenced to farm household consumption and investment 0.446% and5.14%, respectively, meanwhile production and income did not change. The research can be concludedthat the independent variables simultaneously significant influenced to production, income, farmhousehold consumption and beef cattle investment. The simulation of changing usage of input factor andprice significantly influenced to farm household consumption and beef cattle investment.

Influence of the Risk-Contributing Factors on the Financing of the Investment Project for Building of Intelligent Buildings

Directory of Open Access Journals (Sweden)

Voytolovskiy Nikolay

2017-01-01

Full Text Available This article provides the generic classification of risks of the investment projects for the construction of intelligent buildings which differ by the detachment of the subjective perception of risk by the investor. Risk and uncertainty were justified as system characteristics of the investment projects for the construction of intelligent buildings. Characteristics of the development was given in the context of project management. Methodical schemes of the development of the investment project risks were specified on the basis of interconnection of risk and project effectiveness. Risk management procedure at realization of the developer project was developed.

Pricing schemes for new drugs: a welfare analysis.

Science.gov (United States)

Levaggi, Rosella

2014-02-01

Drug price regulation is acquiring increasing significance in the investment choices of the pharmaceutical sector. The overall objective is to determine an optimal trade-off between the incentives for innovation, consumer protection, and value for money. However, price regulation is itself a source of distortion. In this study, we examine the welfare properties of listing through a bargaining process and value-based pricing schemes. The latter are superior instruments to uncertain listing processes for maximising total welfare, but the distribution of the benefits between consumers and the industry depends on rate of rebate chosen by the regulator. However, through an appropriate choice, it is always possible to define a value-based pricing scheme with risk sharing, which both consumers and the industry prefer to an uncertain bargaining process. Copyright © 2013 Elsevier Ltd. All rights reserved.

The Gender and Equity Implications of Land-Related Investments on Labour and Income-Generating Opportunities. A Case Study of Agricultural Investments in Lao PDR

NARCIS (Netherlands)

E. Daley (Elizabeth); M Osorio (Martha); C.M.Y. Park (Clara)

2013-01-01

markdownabstract__Abstract__ Concerns about the potential gender and equity implications of land-related investments on labour and income-generating opportunities and access, use and control of land come in the context of the current global policy interest in supporting agricultural investment

Fostering sustainable small-scale investments: lessons from experience and ideas for intervention and innovation

International Nuclear Information System (INIS)

Lucia, R.J. de

2000-01-01

This article presents lessons from experience pertinent to implementing small-scale natural resource and related investment projects in developing countries. It outlines ideas for intervention and innovation to foster such investments. Particular emphasis is placed on private-sector participation in these investments. Following a brief presentation of the economic development and other arguments that support intervention and innovation in support of such small-scale natural resource investments, the article discusses many of the lessons learned from experience. These lessons reinforce those touched upon in the investment-specific discussions in the previous articles. The experience and associated lessons that are examined include experiences in both developing and developed countries and encompass nor just lessons from natural resource investments, but also small-scale investments in other sectors. Financing and other innovations which facilitate meeting the challenges are drawn from relevant experience where barriers to investment have been surmounted. Options for programme and project interventions to increase market penetration of small-scale investments and achieve the associated development linkages and synergies are suggested. These suggestions are aimed especially at governments and bilateral and multilateral development finance and development assistance entities. It is those players who might support such interventions in collaboration with local financial institutions and other market players. (author)

Investment shocks and the relative price of investment

OpenAIRE

Justiniano, Alejandro; Primiceri, Giorgio E.; Tambalotti, Andrea

2009-01-01

We estimate a New-Neoclassical Synthesis model of the business cycle with two investment shocks. The first, an investment-specific technology shock, affects the transformation of consumption into investment goods and is identified with the relative price of investment. The second shock affects the production of installed capital from investment goods or, more broadly, the transformation of savings into future capital input. We find that this shock is the most important driver of U.S. business...

Age-dependent variation in the terminal investment threshold in male crickets.

Science.gov (United States)

Duffield, Kristin R; Hampton, Kylie J; Houslay, Thomas M; Hunt, John; Rapkin, James; Sakaluk, Scott K; Sadd, Ben M

2018-03-01

The terminal investment hypothesis proposes that decreased expectation of future reproduction (e.g., arising from a threat to survival) should precipitate increased investment in current reproduction. The level at which a cue of decreased survival is sufficient to trigger terminal investment (i.e., the terminal investment threshold) may vary according to other factors that influence expectation for future reproduction. We test whether the terminal investment threshold varies with age in male crickets, using heat-killed bacteria to simulate an immune-inducing infection. We measured calling effort (a behavior essential for mating) and hemolymph antimicrobial activity in young and old males across a gradient of increasing infection cue intensity. There was a significant interaction between the infection cue and age in their effect on calling effort, confirming the existence of a dynamic terminal investment threshold: young males reduced effort at all infection levels, whereas old males increased effort at the highest levels relative to naïve individuals. A lack of a corresponding decrease in antibacterial activity suggests that altered reproductive effort is not traded against investment in this component of immunity. Collectively, these results support the existence of a dynamic terminal investment threshold, perhaps accounting for some of the conflicting evidence in support of terminal investment. © 2018 The Author(s). Evolution © 2018 The Society for the Study of Evolution.

A Seamless Handoff Scheme with Access Point Load Balance for Real-Time Services Support in 802.11 Wireless LANs

Science.gov (United States)

Manodham, Thavisak; Loyola, Luis; Miki, Tetsuya

IEEE 802.11 wirelesses LANs (WLANs) have been rapidly deployed in enterprises, public areas, and households. Voice-over-IP (VoIP) and similar applications are now commonly used in mobile devices over wireless networks. Recent works have improved the quality of service (QoS) offering higher data rates to support various kinds of real-time applications. However, besides the need for higher data rates, seamless handoff and load balancing among APs are key issues that must be addressed in order to continue supporting real-time services across wireless LANs and providing fair services to all users. In this paper, we introduce a novel access point (AP) with two transceivers that improves network efficiency by supporting seamless handoff and traffic load balancing in a wireless network. In our proposed scheme, the novel AP uses the second transceiver to scan and find neighboring STAs in the transmission range and then sends the results to neighboring APs, which compare and analyze whether or not the STA should perform a handoff. The initial results from our simulations show that the novel AP module is more effective than the conventional scheme and a related work in terms of providing a handoff process with low latency and sharing traffic load with neighbor APs.

Analysing the interactions between renewable energy promotion and energy efficiency support schemes: The impact of different instruments and design elements

International Nuclear Information System (INIS)

Rio, Pablo del

2010-01-01

CO 2 emissions reduction, renewable energy deployment and energy efficiency are three main energy/environmental goals, particularly in Europe. Their relevance has led to the implementation of support schemes in these realms. Their coexistence may lead to overlaps, synergies and conflicts between them. The aim of this paper is to analyse the interactions between energy efficiency measures and renewable energy promotion, whereas previous analyses have focused on the interactions between emissions trading schemes (ETS) and energy efficiency measures and ETS and renewable energy promotion schemes. Furthermore, the analysis in this paper transcends the 'certificate' debate (i.e., tradable green and white certificates) and considers other instruments, particularly feed-in tariffs for renewable electricity. The goal is to identify positive and negative interactions between energy efficiency and renewable electricity promotion and to assess whether the choice of specific instruments and design elements within those instruments affects the results of the interactions.

Emotional Intelligence and risk taking in investment decision-making

OpenAIRE

Enrico Rubaltelli; Sergio Agnoli; Michela Rancan; Tiziana Pozzoli

2015-01-01

Previous work on investment decision-making suggested that emotions prevent investors from taking risks and from investing in a rational way, whereas other work found that there is great variability in people’s ability to manage and use emotional feedbacks. We hypothesized that people with high trait emotional intelligence should be more willing, than people with low trait emotional intelligence, to accept risks when making an investment. Data supported a model in which trait emotional intell...

Management of investment processes on Finnish farms

Directory of Open Access Journals (Sweden)

T. MATTILA

2008-12-01

Full Text Available Structural change in agriculture means a continuous need for investing in farm production. It is essential for the sustainable operations and the economy of the farm that such investments are successful. In this research, different stages of the investment process of farms were studied as well as the use of information and the success perceived during the investment process. The study was carried out with mail surveys and telephone interviews on the Finnish Farm Accountancy Data Network (FADN farms. The most challenging investments were in animal husbandry buildings and, as to these investments, the comparison of alternatives was the most challenging stage. For most investments, the planning phase was considered more challenging than the implementation. Before making the decision, farmers acquired information from many sources, of which the opinion of the main customer and the experiences of fellow farmers were the most valued. Some of the products considered were so new on the market that it was not easy to get adequate information and, furthermore, the information given by suppliers was not always accurate. Decision-making was supported by calculations, but qualitative factors had a dominating role. Large basic decisions were made relatively quickly, while details needed a longer time to process. In general, farm managers were satisfied with their investments. Improvements in work quality and quantity were especially mentioned and generally qualitative factors were the ones first in mind when evaluating the successfulness of the investment.;

DISPUTE RESOLUTION OF FOREIGN DIRECT INVESTMENT IN CHINA

Directory of Open Access Journals (Sweden)

Fiska Silvia Raden Roro

2012-09-01

Full Text Available Corruption activity in this modern era keeps hurting the implementation of foreign investment in Indonesia, especially for the dispute settlement aspect. Unfortunately, today, Indonesia is one of the interesting place for foreign investment destination, especially for consumer goods manufacturers. This situation happened because of Indonesia’s great resources which is totally supportive to business development activity. This article was intended to spur the development of Indonesia’s legal system, especially about foreign investment, and also to explain how the dispute resolution on foreign investment in Chinese Regime perspective, including considerations of how Chinese culture and settlement in foreign investment, methods of negotiation, mediation, arbitration. It will also be discussed how the practice of the settlement of disputes through litigation also the enforcement of foreign arbitral awards and the enforcement of a foreign court related to Chinese Regime.

MONITORING MECHANISM FOR INVESTMENT DEVELOPMENT OF REGIONS’ INFRASTRUCTURE

Directory of Open Access Journals (Sweden)

Halyna Leshuk

2017-09-01

of indicators should reflect the change in the level of investment potential as a result of the implementation of measures and implementation of investment projects for the development of regions’ infrastructure; assessing the level of effectiveness of regional infrastructure functioning, using comparative analysis procedures – the concept of benchmarking, which will allow reducing costs of improvement processes accordingly, as the best experience of management of other territories is studied and evaluated in order to use the acquired knowledge in the activities of the authorities. Conclusions. The researched theoretical and methodological principles of the monitoring mechanism of the investment development of the regions’ infrastructure enable to substantiate the necessity of implementation of complex and system monitoring of the functioning of the infrastructure complex and the investment potential of regions. The researched tendencies of investment development of the Ukrainian regions’ infrastructure allowed establishing significant spatial asymmetries, which negatively affects the implementation of both national development strategies and regional programs and concepts. Thus, the main directions of the monitoring mechanism of the investment development of the region’s infrastructure in the composition should be based on analytical observation not only of the regional authorities but also potential investors and the territorial community. Practical meaning. On the basis of official static monitoring data of investment support and the level of development of the infrastructure complex of Ukrainian regions, trends of investment development of the regions infrastructure are investigated in the article, which allows noting about significant territorial imbalances as a level of investment support, as well as the efficiency of the functioning of the regions infrastructure complex, and this determines the need for the development of comprehensive regional

Proof of concept for a banding scheme to support risk assessments related to multi-product biologics manufacturing.

Science.gov (United States)

Card, Jeffrey W; Fikree, Hana; Haighton, Lois A; Blackwell, James; Felice, Brian; Wright, Teresa L

2015-11-01

A banding scheme theory has been proposed to assess the potency/toxicity of biologics and assist with decisions regarding the introduction of new biologic products into existing manufacturing facilities. The current work was conducted to provide a practical example of how this scheme could be applied. Information was identified for representatives from the following four proposed bands: Band A (lethal toxins); Band B (toxins and apoptosis signals); Band C (cytokines and growth factors); and Band D (antibodies, antibody fragments, scaffold molecules, and insulins). The potency/toxicity of the representative substances was confirmed as follows: Band A, low nanogram quantities exert lethal effects; Band B, repeated administration of microgram quantities is tolerated in humans; Band C, endogenous substances and recombinant versions administered to patients in low (interferons), intermediate (growth factors), and high (interleukins) microgram doses, often on a chronic basis; and Band D, endogenous substances present or produced in the body in milligram quantities per day (insulin, collagen) or protein therapeutics administered in milligram quantities per dose (mAbs). This work confirms that substances in Bands A, B, C, and D represent very high, high, medium, and low concern with regard to risk of cross-contamination in manufacturing facilities, thus supporting the proposed banding scheme. Copyright © 2015 Elsevier Inc. All rights reserved.

Financing energy investments in the economies in transition

International Nuclear Information System (INIS)

Brendow, C.

1997-01-01

This report is the part concerning Central and Eastern Europe (CEE) and the Commonwealth of Independent States (CIS) of the World Energy Council (WEC) Programme - a global study of the financing requirements of future energy developments. The investment needs are determined to reach the standards of developed energy market economies in terms of quality of service, efficiency, profitability, environmental protection and safety. Considering the macro-economic and general energy development scenarios done by IIASA and WEC the cumulative investment requirements 1990-2020 would be to range from $281bill. to $509 bill. in CEE; annual investment requirements would amount to $15-28 bill. depending on the scenarios; specific investment requirements per ton energy would range from 77 (ecologically driven scenario) to $101 (high growth, coal based scenario). In 1994 international finance for CEE/CIS energy sector was only $5 bill. (or 5% of the needs) due to the small size of the projects, low energy prices and the lack of incentives. CEE/CIS countries have not done enough to attract foreign loans. Western energy corporations acquired shares of Russian oil and gas companies. Reasons for the slow start include currency risk, legal uncertainty, uncertain demand prospects, low electricity tariffs, required rate of returns - above 18% in CEE, 25% in CIS, compared to 10% in US and UK. About 9% of total world foreign direct investments have been entered in energy sector. Multilateral organizations have invested yearly average $0.8-1 bill. grants and credits in CEE/CIS energy activities. From 1991 to 1995 135 mill. ECU have been spent for supporting national energy sector in CEE countries under PHARE activities. Difficulties are due to the lack of developed capital markets in these countries. In the future CEE capital markets could support a substantial proportion of the national investment requirements. By 2020 capital requirements for energy supply investments would be 3.4-4.7% of

A support of the renewable source energy utilization and conditions for the biogass station investment

Directory of Open Access Journals (Sweden)

Roland Weiss

2009-03-01

Full Text Available This paper describes possibilities of the renewable energy source projects funding and arises an importance of the analysis whichshould be the first step before investing in the generation of energy from renewable sources.The issue of investing in biogas plants is related to particular conditions of the investor. The extent of the investment is never clearand always depends on the company equipment. Therefore, the quality evaluation of the project in the preparatory phase can protectthe investor against a direct damage and disappointment.

Investing in Youth: Brazil

Science.gov (United States)

OECD Publishing, 2014

2014-01-01

The series Investing in Youth builds on the expertise of the Organisation for Economic Cooperation and Development (OECD) on youth employment, social support and skills. It covers both OECD countries and countries in the process of accession to the OECD, as well as some emerging economies. This report provides a detailed diagnosis of the youth…

Investing in Youth: Latvia

Science.gov (United States)

OECD Publishing, 2015

2015-01-01

The series Investing in Youth builds on the expertise of the Organisation for Economic Cooperation and Development (OECD) on youth employment, social support and skills. It covers both OECD countries and countries in the process of accession to the OECD, as well as some emerging economies. This report provides a detailed diagnosis of the youth…

Developing long-term scenario forecasts to support electricity generation investment decisions

CSIR Research Space (South Africa)

Koen, Renée

2014-09-01

Full Text Available Many decisions regarding capital investment in electricity generation technologies need to be made well in advance, usually when there is still a large amount of uncertainty regarding the favourability of future conditions. There may be uncertainty...

CONTRIBUTION OF FOREIGN DIRECT INVESTMENT FOR THE REGION DEVELOPMENT

Directory of Open Access Journals (Sweden)

KATARÍNA ČULKOVÁ

2013-02-01

Full Text Available Foreign direct investments contribute to the important solving of the economical growth and regionaldevelopment and it presents part of the state’s effort to increase living level of the state. Slovakia government ismotivated to support any foreign investment and it competes for such investments with other transforming countries.Goal of the contribution is to provide idea about main factors that influence inflow of the foreign investments to theindividual regions of Slovakia and to evaluate their contribution through characteristics and main determinants of theforeign investments. Only through careful choice can Slovakia obtain successfully investors that would come to thecountry with production, research and development since in modern economy we cannot be competitive without suchactivities, neither in regional, nor in the international level.

Psychosocial routes from housing investment to health: Evidence from England's home energy efficiency scheme

International Nuclear Information System (INIS)

Gilbertson, Jan; Grimsley, Michael; Green, Geoff

2012-01-01

Over the past decade the Warm Front Scheme has been the English Government's principal programme for improving domestic energy efficiency and reducing fuel poverty. This paper reports on a cross-sectional survey of low income householders participating in the Warm Front Scheme in five urban areas of England. Surveys were conducted of 2685 individuals, before and or after intervention. Pathways to self reported health were modelled by logistic regression. Of all the dimensions of health examined, only self reported mental health is directly associated with Warm Front measures. Intermediary variables associated with Warm Front intervention were shown to be significantly correlated with more dimensions of self reported health status. Higher temperatures, satisfaction with the heating system, greater thermal comfort, reductions in fuel poverty and lower stress were significantly correlated with improved health. Alleviating fuel poverty and reducing stress appeared to be the main route to health. We conclude there are complex and indirect relationships linking energy efficiency measures to outcomes on all dimensions of health which contribute to significant material and psychosocial benefits. The impact of the Warm Front Scheme cannot be fully understood by a limited analysis which merely relates indoor temperature and property characteristics to physiological health outcomes. - Highlights: ► Warm Front improvements are linked to significant material and psychosocial benefits. ► The alleviation of fuel poverty and the reduction of stress emerge as the likely route to health. ► The scope for improving health is greater than implied by the UK Government's Fuel Poverty Strategy. ► A dual but integrated approach to alleviating cold living conditions and fuel poverty is required.

Principal scheme of preventive maintenance support system for nuclear power plants

International Nuclear Information System (INIS)

Nishiyama, Takuya; Terano, Takao; Yokoo, Takeshi; Shinohara, Yasushi

1985-01-01

It is of great importance to turn lessons learned from abnormal event experiences to advantage as well as taking apriori actions for prevention of abnormal events in nuclear power plants. From this point of view, a consultation system, named as Preventive Maintenance Support System (PMSS), which is to possess accumulated knowledges drawn from the past abnormal events in nuclear power plants infer occurrences, factors and developments of abnormal events and recommend preventive countermeasures on the basis of the knowledges, has been proposed. This report presents the principal scheme of PMSS. To begin with, following to the discussion of the purpose and use of PMSS, the fundamental functions PMSS should perform are specified. They are (1) event factors analyzation, (2) event prediction (event development estimation and analogous event estimation), (3) event significance evaluation and (4) preventive countermeasures presentation. In the next place, it is asserted that such a system should be constructed as a knowledge engineering one. Then, the R and D subjects and related schedule for PMSS are set up. (author)

Adaptive Digital Watermarking Scheme Based on Support Vector Machines and Optimized Genetic Algorithm

Directory of Open Access Journals (Sweden)

Xiaoyi Zhou

2018-01-01

Full Text Available Digital watermarking is an effective solution to the problem of copyright protection, thus maintaining the security of digital products in the network. An improved scheme to increase the robustness of embedded information on the basis of discrete cosine transform (DCT domain is proposed in this study. The embedding process consisted of two main procedures. Firstly, the embedding intensity with support vector machines (SVMs was adaptively strengthened by training 1600 image blocks which are of different texture and luminance. Secondly, the embedding position with the optimized genetic algorithm (GA was selected. To optimize GA, the best individual in the first place of each generation directly went into the next generation, and the best individual in the second position participated in the crossover and the mutation process. The transparency reaches 40.5 when GA’s generation number is 200. A case study was conducted on a 256 × 256 standard Lena image with the proposed method. After various attacks (such as cropping, JPEG compression, Gaussian low-pass filtering (3,0.5, histogram equalization, and contrast increasing (0.5,0.6 on the watermarked image, the extracted watermark was compared with the original one. Results demonstrate that the watermark can be effectively recovered after these attacks. Even though the algorithm is weak against rotation attacks, it provides high quality in imperceptibility and robustness and hence it is a successful candidate for implementing novel image watermarking scheme meeting real timelines.

Investment timing under uncertain renewable energy policy: An empirical study of small hydropower projects

International Nuclear Information System (INIS)

Linnerud, Kristin; Andersson, Ane Marte; Fleten, Stein-Erik

2014-01-01

Policy uncertainty can be a powerful deterrent to immediate investments. Based on panel data of 214 licenses to construct small run-of-the-river hydropower plants, we examine whether the prospect of a common Swedish–Norwegian market for green certificates (i.e., a renewable portfolio standard scheme) affected the timing of investments. Our results show that traditional utilities and other professional investors in the energy market acted in accordance with a real options investment rule, and the prospect of possible future subsidies delayed their investment decision. On the other hand, our results do not show that farmers and other non-professional investors incorporated timing considerations in their investment decisions. Rather, our results indicate that these investors behaved as if their investment opportunity is now-or-never, investing if the project is profitable according to a net present value investment rule, ignoring the opportunity to create additional value by waiting. The observed difference in behavior between professional and non-professional investors is interesting given the distributed nature of many renewable energy technologies, and can help planners and policymakers better understand the forces shaping the future market for electricity. - Highlights: • We examine whether the prospect of introducing subsidies delayed investments in hydropower. • We find that professional and non-professional investors behaved differently. • Professional investors explored the opportunity to create additional value by waiting. • Farmers behaved as if their investment opportunity was now-or-never. • These observations are interesting given the distributed nature of renewable energy technologies

Japanese investment in Peru: limits of developmental investment

OpenAIRE

Kamiya, Marco

2004-01-01

Japanese Investment in Latin America was considerable in the 1960s and 1970s, but the investment never took off in the developmental style as in East Asia. The author examines why Japanese Foreign Direct Investment in Peru did not follow the pattern of developmental investment, analyzing the elements involved regarding policies in Peru and particular circumstances in Japan in the 1990 decade.

Investing in Youth: Lithuania

Science.gov (United States)

OECD Publishing, 2016

2016-01-01

The series Investing in Youth builds on the expertise of the Organisation for Economic Cooperation and Development (OECD) on youth employment, social support and skills. It covers both OECD countries and countries in the process of accession to the OECD, as well as some emerging economies. The present report on Lithuania is the fourth of a new…

BANKING ETHICS IN THE FOREIGN DIRECT INVESTMENTS FROM ROMANIA

Directory of Open Access Journals (Sweden)

MEDAR LUCIAN-ION

2011-09-01

Full Text Available Capital account liberalization created premises and allow Romania for final exit from the financial crisis. Promoting direct investment in Romania can lead to sustainable economic growth, create new jobs and thus, by selling labor set up new forms of saving, which will support investments. Banking ethics elements behind the development of direct investments in Romania are legislation, regulation and behavior of participants. Amid an emerging economy rocked by the global financial crisis, capital account liberalization has allowed entry direct investment, but allowed and the capital flight. Respect for ethics in the business financial banking groups provide, at least, economic development and upgrading the infrastructure of Romania

Analysing the interactions between renewable energy promotion and energy efficiency support schemes: The impact of different instruments and design elements

Energy Technology Data Exchange (ETDEWEB)

Rio, Pablo del, E-mail: pablo.delrio@cchs.csic.e [Instituto de Politicas y Bienes Publicos, Consejo Superior de Investigaciones Cientificas (CSIC), C/Albasanz 26-28, 28037 Madrid (Spain)

2010-09-15

CO{sub 2} emissions reduction, renewable energy deployment and energy efficiency are three main energy/environmental goals, particularly in Europe. Their relevance has led to the implementation of support schemes in these realms. Their coexistence may lead to overlaps, synergies and conflicts between them. The aim of this paper is to analyse the interactions between energy efficiency measures and renewable energy promotion, whereas previous analyses have focused on the interactions between emissions trading schemes (ETS) and energy efficiency measures and ETS and renewable energy promotion schemes. Furthermore, the analysis in this paper transcends the 'certificate' debate (i.e., tradable green and white certificates) and considers other instruments, particularly feed-in tariffs for renewable electricity. The goal is to identify positive and negative interactions between energy efficiency and renewable electricity promotion and to assess whether the choice of specific instruments and design elements within those instruments affects the results of the interactions.

Analysing the interactions between renewable energy promotion and energy efficiency support schemes. The impact of different instruments and design elements

Energy Technology Data Exchange (ETDEWEB)

Del Rio, Pablo [Instituto de Politicas y Bienes Publicos, Consejo Superior de Investigaciones Cientificas (CSIC), C/Albasanz 26-28, 28037 Madrid (Spain)

2010-09-15

CO{sub 2} emissions reduction, renewable energy deployment and energy efficiency are three main energy/environmental goals, particularly in Europe. Their relevance has led to the implementation of support schemes in these realms. Their coexistence may lead to overlaps, synergies and conflicts between them. The aim of this paper is to analyse the interactions between energy efficiency measures and renewable energy promotion, whereas previous analyses have focused on the interactions between emissions trading schemes (ETS) and energy efficiency measures and ETS and renewable energy promotion schemes. Furthermore, the analysis in this paper transcends the certificate debate (i.e., tradable green and white certificates) and considers other instruments, particularly feed-in tariffs for renewable electricity. The goal is to identify positive and negative interactions between energy efficiency and renewable electricity promotion and to assess whether the choice of specific instruments and design elements within those instruments affects the results of the interactions. (author)

ECONOMIC AND LEGAL GROUNDS FOR INVESTMENT IN DEVELOPMENT OF TRANSPORT INFRASTRUCTURE

Directory of Open Access Journals (Sweden)

V. V. Zhelezniak

2017-02-01

Full Text Available Purpose. In Ukraine, as in many countries of the world, transport is one of the most fundamental sectors of the national economy, important part of the industrial and social spheres. But in the conditions of industry reforming there are problems of investing in development of rail transport. So the work is devoted to the grounds of potentially available sources of investment in infrastructure of railway transport of Ukraine. The work stresses the importance of the problem of attracting foreign investment in the economy, highlights the proposals to solve this problem. Methodology. To solve the problems of this class the work presents the proposed methods of analysis, synthesis and comparison, deduction, induction, logic and abstraction. It becomes necessary to search for and study of new conceptual approaches to organization of investment processes at railway transport enterprises, appropriate management and financial decisions and schemes of railway infrastructure development. Findings. The paper shows ways to optimize investment for modernization and technical re-equipment of the transport complex of Ukraine. It proposes the ways of attracting capital of investors for development of transport infrastructure: compliance with European laws and regulations; reforming of the tax system of Ukraine; combating corruption in the country; implementation of public-private partnership tools into the mechanism of state regulation of investment processes; creating a favourable investment climate for implementation of rail transport infrastructure projects; creating a system of compensation to investors; guarantees of transport infrastructure investment protection. Originality. The work offers the sources of investment for development of railway infrastructure in Ukraine, which should include: state budget funds, use of targeted loans and leasing. The main direction of the state policy concerning infrastructure should be a gradual transition of activity in

Developing 2 C-compatible investment criteria

Energy Technology Data Exchange (ETDEWEB)

Roeser, Frauke [NewClimate - Institute for Climate Policy and Global Sustainability gGmbH, Bonn (Germany); Weischer, Lutz [Germanwatch e.V., Koeln (Germany); Thomae, Jakob [2degrees Investing Initiative, New York, NY (United States); Hoehne, Niklas; Hagemann, Markus; El Alaoui, Alexander; Bals, Christoph; Eckstein, David; Kreft, Soenke; Rosse, Morten

2015-11-30

This report studies the development of criteria for assessing the compatibility of financial investments with the international goal to limit global temperature increase to below 2 C above pre-industrial levels. The findings are intended as a starting point and a key input for a longer term process to develop consensus-based 2 C investing criteria. The focus here is placed on investments in projects and physical assets, in particular of development and climate finance organisations. In order to limit global temperature increase to 2 C, global greenhouse gas (GHG) emissions will have to be reduced significantly, eventually to zero, during the course of this century. This requires shifting capital from high to low carbon investments as well as significant capital mobilisation for investments in 2 C-compatible infrastructure. Given the long lifetime of physical assets, and the urgency of decarbonisation over the coming decades, this needs to begin today. Public financial institutions can play a prominent role in contributing to aligning investment flows with the 2 C limit, as well as in closing the current infrastructure investment gap, responding to their explicit or implicit climate mandates and leadership role in the finance sector. The majority of international financial institutions integrate climate considerations into their finance decisions to some degree, and are familiar with different types of criteria, including positive and negative lists, qualitative and quantitative benchmarks, and the use of shadow carbon pricing. However, current approaches do not link to the 2 C limit. 2 C investment criteria are therefore needed to guide investors in this regard. Such criteria may also support other purposes, including an understanding of climate risks and improved reporting and accountability.

Developing 2 C-compatible investment criteria

International Nuclear Information System (INIS)

Roeser, Frauke; Weischer, Lutz; Thomae, Jakob; Hoehne, Niklas; Hagemann, Markus; El Alaoui, Alexander; Bals, Christoph; Eckstein, David; Kreft, Soenke; Rosse, Morten

2015-01-01

This report studies the development of criteria for assessing the compatibility of financial investments with the international goal to limit global temperature increase to below 2 C above pre-industrial levels. The findings are intended as a starting point and a key input for a longer term process to develop consensus-based 2 C investing criteria. The focus here is placed on investments in projects and physical assets, in particular of development and climate finance organisations. In order to limit global temperature increase to 2 C, global greenhouse gas (GHG) emissions will have to be reduced significantly, eventually to zero, during the course of this century. This requires shifting capital from high to low carbon investments as well as significant capital mobilisation for investments in 2 C-compatible infrastructure. Given the long lifetime of physical assets, and the urgency of decarbonisation over the coming decades, this needs to begin today. Public financial institutions can play a prominent role in contributing to aligning investment flows with the 2 C limit, as well as in closing the current infrastructure investment gap, responding to their explicit or implicit climate mandates and leadership role in the finance sector. The majority of international financial institutions integrate climate considerations into their finance decisions to some degree, and are familiar with different types of criteria, including positive and negative lists, qualitative and quantitative benchmarks, and the use of shadow carbon pricing. However, current approaches do not link to the 2 C limit. 2 C investment criteria are therefore needed to guide investors in this regard. Such criteria may also support other purposes, including an understanding of climate risks and improved reporting and accountability.

An options approach to investment in a hydrogen infrastructure

International Nuclear Information System (INIS)

Benthem, A.A. van; Kramer, G.J.; Ramer, R.

2006-01-01

This paper discusses the investments needed for the introduction of hydrogen as a transport fuel. Using option theory, we develop a model to calculate the value and optimal timing of a first commercial rollout of hydrogen vehicles in a larger area, taking Japan as a specific example. We find that the project is best viewed as an out-of-the-money call option with a small but positive option value. We estimate this value at approximately 1.5 billion euros, without tax advantages. An important finding is that the moment of investment is first and foremost determined by the maturing of the technology. By contrast, the investment timing is not as much affected by deployment strategy as is frequently thought: in particular, whether or not the hydrogen retail infrastructure is introduced smoothly does not sensitively influence the investment timing. Fairly independent of parameter assumptions, the project value at the moment of deployment is negative for the retailer and positive for the car manufacturer. This implies the need for a negotiated partnership. Finally, we assess various forms of government support, e.g. subsidies or tax cuts. Looking at the effectiveness of this support spending in relation to the advancement of hydrogen deployment, we find, again because investment timing is primarily determined by technology maturation, that tax incentives are relatively ineffective. We are lead to believe that government subsidy for technology development is a more effective means to achieve earlier investment, as faster production cost reductions for hydrogen and fuel cell vehicles lead to accelerated investment

Investment Strategy and Efficiency of Investment Activity of European Insurers

Directory of Open Access Journals (Sweden)

Zhabynets Olga Yo.

2014-02-01

Full Text Available The article studies investment strategy and efficiency of investment activity of European insurance companies. In particular, it analyses the share of investments of insurance companies of Europe in GDP, investment portfolio of European insurers and its structure, contribution of insurance companies – leaders of investment activity – into the European investment portfolio. It studies influence of the financial crisis upon investment strategy of European insurers and analyses efficiency of investment activity of European insurers in risk insurance and life insurance. The article proves that investment business models of insurance companies are capable of resisting crisis phenomena more efficiently than other financial institutions. It marks out that measures of insurance companies that are directed at increase of profitability of investments require from them both significant expenditures on creation of the system of investment risk management and open access to different categories of financial assets and markets, which influences the general risk level, taken upon by an insurance company. The author draws a conclusion that, taking into account recent developments, European insurers should focus on equity and investment risk management, finding new possibilities for their (investments growth and also adaptation of new systems and operations for solution of these important tasks.

A decision support model for investment on P2P lending platform.

Science.gov (United States)

Zeng, Xiangxiang; Liu, Li; Leung, Stephen; Du, Jiangze; Wang, Xun; Li, Tao

2017-01-01

Peer-to-peer (P2P) lending, as a novel economic lending model, has triggered new challenges on making effective investment decisions. In a P2P lending platform, one lender can invest N loans and a loan may be accepted by M investors, thus forming a bipartite graph. Basing on the bipartite graph model, we built an iteration computation model to evaluate the unknown loans. To validate the proposed model, we perform extensive experiments on real-world data from the largest American P2P lending marketplace-Prosper. By comparing our experimental results with those obtained by Bayes and Logistic Regression, we show that our computation model can help borrowers select good loans and help lenders make good investment decisions. Experimental results also show that the Logistic classification model is a good complement to our iterative computation model, which motivates us to integrate the two classification models. The experimental results of the hybrid classification model demonstrate that the logistic classification model and our iteration computation model are complementary to each other. We conclude that the hybrid model (i.e., the integration of iterative computation model and Logistic classification model) is more efficient and stable than the individual model alone.

A decision support model for investment on P2P lending platform.

Directory of Open Access Journals (Sweden)

Xiangxiang Zeng

Full Text Available Peer-to-peer (P2P lending, as a novel economic lending model, has triggered new challenges on making effective investment decisions. In a P2P lending platform, one lender can invest N loans and a loan may be accepted by M investors, thus forming a bipartite graph. Basing on the bipartite graph model, we built an iteration computation model to evaluate the unknown loans. To validate the proposed model, we perform extensive experiments on real-world data from the largest American P2P lending marketplace-Prosper. By comparing our experimental results with those obtained by Bayes and Logistic Regression, we show that our computation model can help borrowers select good loans and help lenders make good investment decisions. Experimental results also show that the Logistic classification model is a good complement to our iterative computation model, which motivates us to integrate the two classification models. The experimental results of the hybrid classification model demonstrate that the logistic classification model and our iteration computation model are complementary to each other. We conclude that the hybrid model (i.e., the integration of iterative computation model and Logistic classification model is more efficient and stable than the individual model alone.

Terminal Investment Strategies and Male Mate choice: Extreme Tests of Bateman.

Science.gov (United States)

Andrade, Maydianne C B; Kasumovic, Michael M

2005-11-01

Bateman's principle predicts the intensity of sexual selection depends on rates of increase of fecundity with mating success for each sex (Bateman slopes). The sex with the steeper increase (usually males) is under more intense sexual selection and is expected to compete for access to the sex under less intense sexual selection (usually females). Under Bateman and modern refinements of his ideas, differences in parental investment are key to defining Bateman slopes and thus sex roles. Other theories predict sex differences in mating investment, or any expenditures that reduce male potential reproductive rate, can also control sex roles. We focus on sexual behaviour in systems where males have low paternal investment but frequently mate only once in their lifetimes, after which they are often killed by the female. Mating effort (=terminal investment) is high for these males, and many forms of investment theory might predict sex role reversal. We find no qualitative evidence for sex role reversal in a sample of spiders that show this extreme male investment pattern. We also present new data for terminally-investing redback spiders (Latrodectus hasselti). Bateman slopes are relatively steep for male redbacks, and, as predicted by Bateman, there is little evidence for role reversal. Instead, males are competitive and show limited choosiness despite wide variation in female reproductive value. This study supports the proposal that high male mating investment coupled with low parental investment may predispose males to choosiness but will not lead to role reversal. We support the utility of using Bateman slopes to predict sex roles, even in systems with extreme male mating investment.

Modeling Water Utility Investments and Improving Regulatory Policies using Economic Optimisation in England and Wales

Science.gov (United States)

Padula, S.; Harou, J. J.

2012-12-01

Water utilities in England and Wales are regulated natural monopolies called 'water companies'. Water companies must obtain periodic regulatory approval for all investments (new supply infrastructure or demand management measures). Both water companies and their regulators use results from least economic cost capacity expansion optimisation models to develop or assess water supply investment plans. This presentation first describes the formulation of a flexible supply-demand planning capacity expansion model for water system planning. The model uses a mixed integer linear programming (MILP) formulation to choose the least-cost schedule of future supply schemes (reservoirs, desalination plants, etc.) and demand management (DM) measures (leakage reduction, water efficiency and metering options) and bulk transfers. Decisions include what schemes to implement, when to do so, how to size schemes and how much to use each scheme during each year of an n-year long planning horizon (typically 30 years). In addition to capital and operating (fixed and variable) costs, the estimated social and environmental costs of schemes are considered. Each proposed scheme is costed discretely at one or more capacities following regulatory guidelines. The model uses a node-link network structure: water demand nodes are connected to supply and demand management (DM) options (represented as nodes) or to other demand nodes (transfers). Yields from existing and proposed are estimated separately using detailed water resource system simulation models evaluated over the historical period. The model simultaneously considers multiple demand scenarios to ensure demands are met at required reliability levels; use levels of each scheme are evaluated for each demand scenario and weighted by scenario likelihood so that operating costs are accurately evaluated. Multiple interdependency relationships between schemes (pre-requisites, mutual exclusivity, start dates, etc.) can be accounted for by

RENEWABLE ENERGY INVESTMENTS DURING 2004-2015 PERIOD

Directory of Open Access Journals (Sweden)

Brîndușa COVACI

2016-12-01

Full Text Available The article presents important considerations on the renewable energy investments from world and European level. The paper points out Europe's position in the current world context. Research is an exploratory one, being supported by statistical interpretations made by the author based on analysis of the "Global Trends in the renewable energy sector" report (2016, United Nations Environment Programme in collaboration with Bloomberg under the auspices of the School of Finance and Management in Frankfurt. Conceptually, the paper presents the most important points of the oscillation investments in the renewable energy sector worldwide. The level of investment in the renewable energy sector offers an accurate picture of the extent of decarbonisation.

Renewable energy in South Africa: Potentials, barriers and options for support

International Nuclear Information System (INIS)

Pegels, Anna

2010-01-01

The challenge of transforming entire economies is enormous; even more so if a country is as fossil fuel based and emission intensive as South Africa. However, in an increasingly carbon constrained world and already now facing climate change impacts South Africa has to reduce greenhouse gas emissions intensity soon and decidedly. The South African electricity sector is a vital part of the economy and at the same time contributes most to the emissions problem. First steps have been taken by the South African government to enhance energy efficiency and promote renewable energy, however, they fail to show large-scale effects. This paper seeks to identify the relevant barriers to renewable energy investments and, based on experience from other countries, provide policy recommendations. The major barrier identified in the paper is based on the economics of renewable energy technologies, i.e. their cost and risk structures, two main factors in investment planning. As a solution, the South African government introduced several renewable energy support measures, such as a feed-in tariff. The paper discusses the potential and possible shortcomings of this and other existing support schemes and identifies complementing measures on a national scale.

Renewable energy in South Africa. Potentials, barriers and options for support

Energy Technology Data Exchange (ETDEWEB)

Pegels, Anna [German Development Institute/Deutsches Institut fuer Entwicklungspolitik, Tulpenfeld 6, 53113 Bonn (Germany)

2010-09-15

The challenge of transforming entire economies is enormous; even more so if a country is as fossil fuel based and emission intensive as South Africa. However, in an increasingly carbon constrained world and already now facing climate change impacts South Africa has to reduce greenhouse gas emissions intensity soon and decidedly. The South African electricity sector is a vital part of the economy and at the same time contributes most to the emissions problem. First steps have been taken by the South African government to enhance energy efficiency and promote renewable energy, however, they fail to show large-scale effects. This paper seeks to identify the relevant barriers to renewable energy investments and, based on experience from other countries, provide policy recommendations. The major barrier identified in the paper is based on the economics of renewable energy technologies, i.e. their cost and risk structures, two main factors in investment planning. As a solution, the South African government introduced several renewable energy support measures, such as a feed-in tariff. The paper discusses the potential and possible shortcomings of this and other existing support schemes and identifies complementing measures on a national scale. (author)

Renewable energy in South Africa: Potentials, barriers and options for support

Energy Technology Data Exchange (ETDEWEB)

Pegels, Anna, E-mail: anna.pegels@die-gdi.d [German Development Institute/Deutsches Institut fuer Entwicklungspolitik, Tulpenfeld 6, 53113 Bonn (Germany)

2010-09-15

The challenge of transforming entire economies is enormous; even more so if a country is as fossil fuel based and emission intensive as South Africa. However, in an increasingly carbon constrained world and already now facing climate change impacts South Africa has to reduce greenhouse gas emissions intensity soon and decidedly. The South African electricity sector is a vital part of the economy and at the same time contributes most to the emissions problem. First steps have been taken by the South African government to enhance energy efficiency and promote renewable energy, however, they fail to show large-scale effects. This paper seeks to identify the relevant barriers to renewable energy investments and, based on experience from other countries, provide policy recommendations. The major barrier identified in the paper is based on the economics of renewable energy technologies, i.e. their cost and risk structures, two main factors in investment planning. As a solution, the South African government introduced several renewable energy support measures, such as a feed-in tariff. The paper discusses the potential and possible shortcomings of this and other existing support schemes and identifies complementing measures on a national scale.

THE IMPORTANCE OF INVESTMENTS IN EARLY EDUCATION

OpenAIRE

DUMITRESCU Alexandra; CONSTANTINESCU Adrian; TACHE Ileana

2012-01-01

The early education is analyzed as being the most profitable investment in education (R. Cuhna). early education supports later learning opportunities. The economic dimension of early education takes into account the fact that the necessary investment for a child to benefit from early education services is rather low when looking at the cost (both economic and social) generated by a child who misses this education level, not necessarily because of the late education start but because of the l...

A Classification Scheme for Literary Characters

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Matthew Berry

2017-10-01

Full Text Available There is no established classification scheme for literary characters in narrative theory short of generic categories like protagonist vs. antagonist or round vs. flat. This is so despite the ubiquity of stock characters that recur across media, cultures, and historical time periods. We present here a proposal of a systematic psychological scheme for classifying characters from the literary and dramatic fields based on a modification of the Thomas-Kilmann (TK Conflict Mode Instrument used in applied studies of personality. The TK scheme classifies personality along the two orthogonal dimensions of assertiveness and cooperativeness. To examine the validity of a modified version of this scheme, we had 142 participants provide personality ratings for 40 characters using two of the Big Five personality traits as well as assertiveness and cooperativeness from the TK scheme. The results showed that assertiveness and cooperativeness were orthogonal dimensions, thereby supporting the validity of using a modified version of TK’s two-dimensional scheme for classifying characters.

Setting aside Transactions from Pyramid Schemes as Impeachable Dispositions under South African Insolvency Legislation

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Zingapi Mabe

2016-10-01

Full Text Available South African courts have experienced a rise in the number of cases involving schemes that promise a return on investment with interest rates which are considerably above the maximum amount allowed by law, or schemes which promise compensation from the active recruitment of participants. These schemes, which are often referred to as pyramid or Ponzi schemes, are unsustainable operations and give rise to problems in the law of insolvency. Investors in these schemes are often left empty-handed upon the scheme’s eventual collapse and insolvency. Investors who received pay-outs from the scheme find themselves in the defence against the trustee’s claims for the return of the pay-outs to the insolvent estate. As the schemes are illegal and the pay-outs are often in terms of void agreements, the question arises whether they can be returned to the insolvent estate. A similar situation arose in Griffiths v Janse van Rensburg 2015 ZASCA 158 (26 October 2015. The point of contention in this case was whether the illegality of the business of the scheme was a relevant consideration in determining whether the pay-outs were made in the ordinary course of business of the scheme. This paper discusses pyramid schemes in the context of impeachable dispositions in terms of the Insolvency Act 24 of 1936.

The Investment Climate of Ukraine and Ways for its Formation

Directory of Open Access Journals (Sweden)

Oryshchyn Tatyana M.

2017-05-01

Full Text Available The article is aimed at studying the factors that determine the positive investment climate in Ukraine. These include the potentially inclusive market, the availability of abundant natural resources, the sufficient scientific and technological potential, the significant agricultural potential (advantageous geographical location, favorable climate, fertile soils, the developed infrastructure, the skilled labor resources, and a developed legislative framework for the issues of foreign investment. The current status of the investment climate in Ukraine, which is characterized by a high level of risk, has been analyzed. Relevance of such necessary measures to improve the investment climate in Ukraine has been substantiated: countering the corruption, reform of the judicial branch and the law enforcement bodies, development of a favorable investment image, facilitation to the investment infrastructure and the stock market, and support for small entrepreneurship.

Designing regulatory frameworks for merchant transmission investments by real options analysis

International Nuclear Information System (INIS)

Pringles, Rolando; Olsina, Fernando; Garcés, Francisco

2014-01-01

In deregulated electricity markets, the transmission network is a key infrastructure for enabling competition in the generation sector. A deficient expansion of the transmission grid prevents the realization of the benefits in terms of efficiency associated with market mechanisms. Consequently, it is essential to provide clear investment policies and economic signals to attract timely and efficient transmission investments in order to develop the system at minimum cost meeting the requirements of generators and consumers, while keeping adequate levels of service quality and reliability. This paper proposes a modern tool of economic evaluation based on real options analysis that provides the regulator the ability to assess various incentives that would lead transmission investors to make efficient decisions in highly uncertain environments. Real options properly values partially irreversible investment decisions, such as to defer, modify or abandon an investment project in response to the arrival of new information or as uncertainties are resolved. Decisions are evaluated from the point of view of a transmission investor trying to maximize its own profits in the time period set to recover the capital invested. The results allow the study of the behavior of transmission investors regarding their decision making when they have the possibility to manage the option to defer, under different regulatory schemes that encourage the expansion of the transmission system. - Highlights: • Regulatory frameworks for efficient and timely transmission expansions are designed. • Irreversibility and uncertainty of transmission investment is properly accounted for. • Response of network investors to regulatory incentives is quantitatively established

Mechanisms for efficient investments and optimal zones in regional power market

Directory of Open Access Journals (Sweden)

Andročec Ivan

2014-01-01

Full Text Available The paper is result of research different cross-border electricity trading mechanisms impact. Focus is on investments in generation and transmission power system facilities in regional market. Assumptions include efficient market coupling mechanism (with more bidding zones, use of additional investment indicators (like social welfare and congestion cost and security of supply issues (capacity mechanisms. There is discussion on cost benefits analysis for particular market participants and there is possibility of risk reduction for regional power system expansion. It is shown current state-of-the-art, problems and trends in solving some aspects of market integration and investment issues. In some cases smaller and well defined bidding areas are absolutely essential in order to ensure system security and economic efficiency. There is no single criterion for power system expansion but it is possible to use combination of incentive schemes and possible through one index for cross-border trade. Risk management for cross-border electricity trading through several areas needs to be upgraded with use of financial transmission rights like weighted average area prices, respectively. Regional power system security is closely associated with timely investments in energy supply in line with economic development and environmental needs. Security of supply indicator is deriving an estimation of security of supply improvement from the market based simulation results when a generation or transmission investment project is implemented. All researched makes market integration and investments in Europe more efficient and gives more correct signals to market participants in regional market.

Prospecting for Sustainable Investment Possibilities in Financial Markets

Directory of Open Access Journals (Sweden)

Aleksandras Vytautas Rutkauskas

2009-06-01

Full Text Available The main objective of the paper is to analyse the author's proposed model, which is adequate for stock prices and currency exchange rates markets stochasticity, as well as discuss its application to investor's possibilities research in those markets. The paper is grounded on the hypothesis of stratification of stock profitability ratios, traded on the market. In other words, the concept of stratification means concentration into certain groups in risk-profitability plane. If the hypothesis proved overall, then a constructive scheme for investor's possibilities research in exchange and capital markets would appear, as well as efficient investment strategies would develop.

In Defense of International Investment Law

NARCIS (Netherlands)

Schill, S.W.; Bungenberg, M.; Herrmann, C.; Krajewski, M.; Terhechte, J.P.

2016-01-01

The present article responds to the critical perspective Kate Miles offers on international investment law in her article “Investor-State Dispute Settlement: Conflict, Convergence, and Future Directions”, published in this Yearbook. While sharing several concerns Miles identifies, and supporting

Investments

CERN Document Server

Bodie, Zvi

2013-01-01

The integrated solutions for Bodie, Kane, and Marcus' Investments set the standard for graduate/MBA investments textbooks. The unifying theme is that security markets are nearly efficient, meaning that most securities are priced appropriately given their risk and return attributes. The content places greater emphasis on asset allocation and offers a much broader and deeper treatment of futures, options, and other derivative security markets than most investment texts. McGraw-Hill's adaptive learning component, LearnSmart, provides assignable modules that help students master chapter core concepts and come to class more prepared. Bodie Investments' blend of practical and theoretical coverage combines with a complete digital solution to help your students achieve higher outcomes in the course

A Laboratory Simulation of Parental Investment Decisions: The Role of Future Reproductive Opportunities and Quality of Offspring in Determining Levels of Parental Investment

Directory of Open Access Journals (Sweden)

Stefanie L. Turner

2006-01-01

Full Text Available Hagen's Defection Hypothesis (2002 predicts that a mother's age and the quality of her offspring are critical factors in determining her investment in her newborn. We tested this hypothesis using hamster races in which 113 college student participants received a hamster (“offspring” and 10 poker chips (“resources” to “invest” into the hamster based on information about the quality of the hamster and about the possibility of future races. Subjects invested the most in low quality offspring when they expected to run only one race and the least in low quality offspring when they expected more racing opportunities in the future. Offspring quality affected investment differently depending on the presence or absence of future investment opportunities and the sex of the subject. Overall, the results supported Hagen's model of parental investment and also suggest that parental investment may be explained by conscious as well as unconscious decision-making.

Assessing the Investment Climate for Climate Investments : A Comparative Framework for Clean Energy Investments in South Asia in a Global Context

OpenAIRE

Mani, Muthukumara S.

2012-01-01

One of the strong messages that came out of the recent United Nations Climate Change conference in Durban was that the private sector has to play an important role if we are to globally move toward a low carbon, climate resilient -- or "climate compatible" -- future. However, private investment will only flow at the scale and pace necessary if it is supported by clear, credible, and long-t...

Investment Avenues

Science.gov (United States)

Jain, Priyanka

2012-11-01

Investors are a heterogeneous group, they may be large or small, rich or poor, expert or lay man and not all investors need equal degree of protection (Mayya, 1996). An investor has three objectives while investing his money, namely safety of invested money, liquidity position of invested money and return on investment. The return on investment may further be divided into capital gain and the rate of return on investment as interest or dividend. Among all investment options available, securities are considered the most challenging as well as rewarding. Securities include shares, debentures, derivatives, units of mutual funds, Government securities etc. An investor may be an individual or corporate legal entity investing funds with a view to derive maximum economic advantage from investment such as rate of return, capital appreciation, marketability, tax advantage and convenience of investment.The Capital market facilitates mobilization of savings of individuals and pools them into reservoir of capital which can be used for the economic development of a country. An efficient capital market is essential for raising capital by the corporate sector of the economy and for the protection of the interest of investors in corporate securities. There arises a need to strike a balance between raising of capital for economic development on one side and protection of investors on the other. Unless the interests of investors are protected, raising of capital, by corporates is not possible. Like, the primary objective of a senior citizenís asset allocation is the generation of regular income.

International capital flows and investment volatility in selected sub-Saharan African countries

Directory of Open Access Journals (Sweden)

William Brafu-Insaidoo

2011-07-01

Full Text Available The study examines the impact of foreign capital flows on investment volatility in emerging and frontier market economies in sub-Saharan Africa. In particular, the study attempts to answer the question of whether different components of foreign capital inflows explain investment volatility. Theory suggests that increased cross-border capital mobility increases investment volatility due to the possibility of substituting foreign for domestic investments. Empirical literature does not, however, provide any clear evidence in support of this theory. By using the dynamic panel data analysis, this study tests the hypothesis that increased capital flows increases investment volatility and the study established that international capital flows reduce investment volatility.

The Mechanism of Financial Stimulation of Investment Activity

Directory of Open Access Journals (Sweden)

Vasiliy Valeryevich Tarakanov

2016-03-01

Full Text Available Modernization of the Russian economy and creation of conditions for its economic growth demand activization of investment activity that is possible by means of its financial stimulation. Financial stimulation of investment activity defines the need of changes of the contents, the directions and ways of implementation of the financial relations between subjects of investment activity. Financial stimulation of investment activity is carried out via the mechanism in the context of which these financial relations are settled. For defining the mechanism of financial stimulation of investment activity the authors consider the very concept of financial mechanism. The conclusion is drawn that all elements of the financial mechanism are the integrated unity, they are interdependent and interconnected, and the combination of types, forms, methods of the organization of the financial relations forms “a design of the financial mechanism”. The article specifies the maintenance of the mechanism of financial stimulation of investment activity, and reveals its essence. The structure of the mechanism of financial stimulation of investment activity is presented by the following elements: subjects of financial stimulation of investment activity, the purpose of attraction of investments by them, set of financial methods and tools, sources of means of achievement of goals, standard - legal and information support of financial stimulation of investment activity. It is proved that in the mechanism of financial stimulation of investment activity the leading role is played by the state by means of forms of direct and indirect participation in attraction of investments, each of which is realized by means of specific methods and the corresponding tools. The widespread instrument of financial stimulation of investment activity is the investments which are carried out by the state institutes of development participating in the organization of the process of financial

Are Foreign Investments Replacing Domestic Investments? - Evidence from Finnish Manufacturing

OpenAIRE

Oksanen, Olli-Pekka

2006-01-01

This study analyses the relationship between firms’ foreign and domestic investments using a panel dataset containing 218 Finnish manufacturing firms during the years 1998-2002. The study examines whether foreign investments increase or decrease domestic investments and whether the effect varies between investments directed to developed markets or emerging markets. Financial constraints’ effect on the relationship is also investigated. The empirical part estimates an empirical investment equa...

Additive operator-difference schemes splitting schemes

CERN Document Server

Vabishchevich, Petr N

2013-01-01

Applied mathematical modeling isconcerned with solving unsteady problems. This bookshows how toconstruct additive difference schemes to solve approximately unsteady multi-dimensional problems for PDEs. Two classes of schemes are highlighted: methods of splitting with respect to spatial variables (alternating direction methods) and schemes of splitting into physical processes. Also regionally additive schemes (domain decomposition methods)and unconditionally stable additive schemes of multi-component splitting are considered for evolutionary equations of first and second order as well as for sy

Dancing with the Dragon: Canadian Investment in China and Chinese Investment in Canada

Directory of Open Access Journals (Sweden)

Josephine Smart

2012-09-01

Full Text Available While Canadian trade and investment with China is today relatively modest, with China well on track to displace the United States as the world’s largest economy, Canada must make it a priority to prepare for a future characterized by dramatically increased trade and investment between our two countries. This paper sheds light on some the issues and measures Canadian governments will have to consider as they look to establish safe and prosperous relationships with China. To begin with, Canadians choosing to invest in China must be prepared for the risk inherent in that country’s peculiar “capitalism with socialist characteristics.” The Chinese state continues to play an interventionist role in many significant sectors in the economy, and the strategy behind China’s overseas investment in countries such as Canada is specifically aimed at furthering China’s own national security goals and geopolitical influence. Canadians wishing to do business in China will also require great cultural competency. The cultural institution known as guanxi — in which gifts to sway influence are considered an acceptable, even desirable practice — persists in China, with even native Chinese unclear on where to draw the line between “good” guanxi and “bad” corruption. At home, Canadians may soon be forced to confront questions about how much of our own land security and natural resource security we are willing to compromise by permitting Chinese investment to gather up our farmland and key industries. Canadians should decide sooner, not later, how well our own strategic interests are served by permitting unrestricted Chinese investment in our economy. In anticipation of these issues, Canada’s federal and provincial governments should provide increased support for a more comprehensive training and research infrastructure that better prepares Canadians for the growing bilateral trade between our countries. They should also reinvest in the

Critical evaluation of financial supporting schemes for wind-based projects: Case study Greece

International Nuclear Information System (INIS)

Kaldellis, J.K.

2011-01-01

After a long stagnating period during the second half of the 1990s, the market of wind energy in Greece was described by remarkable but unstable growth rates that resulted in the operation of 1 GW of wind power by the end of 2009. Still though, penetration of wind energy is not the one anticipated. On the other hand, national targets regarding the Renewable Energy Sources' (RES) contribution and existence of excellent wind potential areas across Greece challenge new wind energy investments. Acknowledging the unsteady development rates of wind power in Greece, efficiency of the State support mechanisms is currently investigated. Based on an analytical evaluation model, the investigation undertaken is extended to provide a detailed cost-benefit analysis of several wind energy case studies, including mainland and island applications as well as comparison with both conventional power stations and photovoltaic plants. For this purpose, the financial support provided by the State is directly compared with benefits accruing from the operation of wind parks, considering also the avoidance of social costs deriving from thermal power stations. Based on the results obtained, the beneficial characteristics of wind energy applications for the Greek society are clearly demonstrated, especially in the case of non-interconnected island grids. - Research highlights: → Since the mid-1990s, growth of wind power capacity in Greece has been unstable. → As a result, integration of wind energy is not the one anticipated. → Considering the situation, efficiency of State support mechanisms is evaluated. → An analytical cost-benefit model is developed and applied to various case studies. → Benefits from wind energy, especially in island regions, are designated.

Cooperation Mechanisms To Achieve Eu Renewable Targets

DEFF Research Database (Denmark)

Klinge Jacobsen, Henrik; Pade, Lise-Lotte; Schröder, Sascha Thorsten

2014-01-01

targets. Furthermore, countries might find themselves competing for investment in a market with limited capital available. In both cases, the cost-efficiency of the renewable support policies is reduced compared to a coordinated solution. Barriers for joint support such as network regulation regarding......There are considerable benefits from cooperating among member states on meeting the 2020 renewable energy sources (RES) targets. Today countries are supporting investments in renewable energy by many different types of support schemes and with different levels of support. The EU has opened...... for cooperation mechanisms such as joint support schemes for promoting renewable energy to meet the 2020 targets. The potential coordination benefits, with more efficient localisation and composition of renewable investment, can be achieved by creating new areas/sub-segments of renewable technologies where...

Foreign Direct Investment versus Portfolio Investment : A Global Games Approach

OpenAIRE

Yamin Ahmad; Pietro Cova; Rodrigo Harrison

2004-01-01

We present a model of investment under uncertainty about fundamentals, using a global games approach. Goldstein & Razin (2003) show that there is an information based trade-off between foreign direct investment (FDI) and portfolio investment (PI) which rationalizes some well known stylised facts in the literature - the relative volatility and reversibility of foreign direct investment versus portfolio investment. We extend their result and show that uncertainty about fundamentals does not imp...

Compensation schemes, liquidity provision, and asset prices: An experimental analysis

OpenAIRE

Baghestanian, Sascha; Gortner, Paul; Massenot, Baptiste

2015-01-01

In an experimental setting in which investors can entrust their money to traders, we investigate how compensation schemes affect liquidity provision and asset prices. Investors face a trade-off between risk and return. At the benefit of a potentially higher return, they can entrust their money to a trader. However this investment is risky, as the trader might not be trustworthy. Alternatively, they can opt for a safe but low return. We study how subjects solve this trade-off when traders are ...

Novel transmission pricing scheme based on point-to-point tariff and transaction pair matching for pool market

International Nuclear Information System (INIS)

Chen, Qixin; Xia, Qing; Kang, Chongqing

2010-01-01

Transmission pricing scheme is a key component in the infrastructure of power market, and pool is an indispensable pattern of market organization; meanwhile, pay-as-bid (PAB) serves as a main option to determine market prices in pool. In this paper, a novel transmission pricing scheme is proposed for pool power market based on PAB. The new scheme is developed by utilizing point-to-point (PTP) tariff and introducing an approach of transaction pair matching (TPM). The model and procedure of the new scheme are presented in detail. Apart from the advantages of existing transmission pricing schemes, such as ensuing open, fair and non-discriminatory access, proper recovery for investment as well as transparency, the new scheme provides economic signals to promote the maximum use of the existing transmission network, encourages appropriate bidding behaviors in pool, and helps to reduce the possibility of the enforcement of market power and the appearing of price spikes; thus improves market operation efficiency and trading effects. In order to testify the effectiveness of the proposed scheme, a case based on IEEE 30-bus system is studied. (author)

Novel transmission pricing scheme based on point-to-point tariff and transaction pair matching for pool market

Energy Technology Data Exchange (ETDEWEB)

Chen, Qixin; Xia, Qing; Kang, Chongqing [State Key Lab. of Power System, Dept. of Electrical Engineering, Tsinghua University, Beijing 100084 (China)

2010-04-15

Transmission pricing scheme is a key component in the infrastructure of power market, and pool is an indispensable pattern of market organization; meanwhile, pay-as-bid (PAB) serves as a main option to determine market prices in pool. In this paper, a novel transmission pricing scheme is proposed for pool power market based on PAB. The new scheme is developed by utilizing point-to-point (PTP) tariff and introducing an approach of transaction pair matching (TPM). The model and procedure of the new scheme are presented in detail. Apart from the advantages of existing transmission pricing schemes, such as ensuing open, fair and non-discriminatory access, proper recovery for investment as well as transparency, the new scheme provides economic signals to promote the maximum use of the existing transmission network, encourages appropriate bidding behaviors in pool, and helps to reduce the possibility of the enforcement of market power and the appearing of price spikes; thus improves market operation efficiency and trading effects. In order to testify the effectiveness of the proposed scheme, a case based on IEEE 30-bus system is studied. (author)

Strategic Spatial Planning's Role in Legitimizing Investments in Transport Infrastructure

DEFF Research Database (Denmark)

Olesen, Kristian

This paper discusses to what extent spatial visions might play an important role in not only supporting, but also legitimizing the need for investments in transport infrastructures. Drawing on discussion of an ‘infrastructure turn’ in strategic spatial planning (Dodson 2009), this paper explores...... how the recently proposed vision of a Loop City for the Danish/Swedish Øresund Region has played an important role in legitimizing and building political support for a light railway connecting the outer suburbs of Copenhagen. It is not unusual for large investments in new transport infrastructures...

Photonics4All - Conduct photonics for investment in France and Slovakia

OpenAIRE

Gerente, Fiona; Chorvat, Dusan

2017-01-01

This project deliverable describes the organisation of different Photonics for Investment Events. “Photonics for investments” focuses on the support and investment in innovative ideas and photonics applications. The objective of this project task is to provide the opportunity for Photonics SMEs to present their products or services during pitch presentations to new customers and investors. The Photonics for Investment events have three main objectives. The first objective is to connect en...

Comment: unethical ethics investment boycotts and abortion.

Science.gov (United States)

Furedi, A

1998-01-01

Ethical investment funds have traditionally boycotted the arms industry, companies known to pollute the environment, and those involved in animal research. However, recent newspaper reports suggest that some investment funds plan to also boycott hospitals and pharmaceutical companies involved in abortion-related activities. Ethical Financial, anti-abortion independent financial advisors, are encouraging a boycott of investment in private hospitals and manufacturers of equipment involved in abortions, and pharmaceutical firms which produce postcoital contraception or conduct embryo research. Ethical Financial claims that Family Assurance has agreed to invest along anti-abortion lines, Aberdeen Investment is already boycotting companies linked to abortion, and Hendersons ethical fund plans to follow suit. There is speculation that Standard Life, the largest mutual insurer in Europe, will also refuse to invest in abortion-related concerns when it launches its ethical fund in the spring. Managers of ethical funds should, however, understand that, contrary to the claims of the anti-choice lobby, there is extensive public support for legal abortion, emergency contraception, and embryo research. Individuals and institutions which contribute to the development of reproductive health care services are working to alleviate the distress of unwanted pregnancy and infertility, laudable humanitarian goals which should be encouraged. Those who try to restrict the development of abortion methods and services simply show contempt for women, treating them as people devoid of conscience who are incapable of making moral choices.

Investment Process in Territorial Government Sectors

Directory of Open Access Journals (Sweden)

Cleopatra Sendroiu

2006-10-01

Full Text Available The increase in the quality of the public administration act represents one of the major targets for the local authorities. From this point of view, the identification and implementation in the current practice of some methods, techniques and advanced working tools might have a significant impact.The investments’ programme as a tool accessible to local public authorities gains an increased legitimacy on the grounds of its civic consent; therefore, the external investors and other potential investors can take advantage of the community’s support in those projects they finance within region.The current framework of the investment activity in the local public sector is characterized by constraints within action, sometimes without continuity or precise targets. The declared urgency of a certain investment objective mostly turns out to be the selection and implementation criterion. In this present work there will be presented a few methods and ways in which town halls can realize public investments in the near future. The adoption of a specific proposal might lead to procedural and organizational modifications for the attainment of the maximum efficiency within the investment process.

Investment Process in Romania and Institutional

Directory of Open Access Journals (Sweden)

Dan Marius VOICILAŞ

2011-12-01

Full Text Available The concepts set out and the macroeconomic policies implemented during the past twenty years have been different and controversial. They have aimed at creating an economic environment conducive to the infusion of foreign capital and development of sectors considered as a priority at that time, which can ensure a sound macro-economic stability, taking into account the fact that there is not enough domestic capital to participate in achieving these objectives. In this paper we will focus on foreign direct investment (FDI policies designed to promote them, their effects on national economy in general terms and features of investment in rural and agricultural sector, which we consider key elements of success in economic growth. Also, the institutional framework in which the investment process took place is thoroughly addressed given that most times the general investment climate of a certain market is influenced both by legislation and the institutions involved in economic life. The experience of transition and the experiences of other countries have shown how important are institutions created to coordinate, support and control of investment activity. We included in this analysis institutions and organizations in Romania with responsibilities in the investment field. Based on this analysis, and on the contributions of institutions to create the proper economic development, but also by investors' direct contribution to the creation of this framework by policy makers recommendations, it is obtained a profile of the business environment in Romania, including what is best but what is missing and it needs to be implemented. We consider that this approach is an important step in addressing the institutional investment process and it creates prerequisites of disseminating essential information and remedial implications to stakeholders.

Energy-Efficient Region Shift Scheme to Support Mobile Sink Group in Wireless Sensor Networks.

Science.gov (United States)

Yim, Yongbin; Kim, Kyong Hoon; Aldwairi, Monther; Kim, Ki-Il

2017-12-30

Mobile sink groups play crucial roles to perform their own missions in many wireless sensor network (WSN) applications. In order to support mobility of such sink groups, it is important to design a mechanism for effective discovery of the group in motion. However, earlier studies obtain group region information by periodic query. For that reason, the mechanism leads to significant signaling overhead due to frequent flooding for the query regardless of the group movement. Furthermore, the mechanism worsens the problem by the flooding in the whole expected area. To deal with this problem, we propose a novel mobile sink group support scheme with low communication cost, called Region-Shift-based Mobile Geocasting Protocol (RSMGP). In this study, we utilize the group mobility feature for which members of a group have joint motion patterns. Thus, we could trace group movement by shifting the region as much as partial members move out of the previous region. Furthermore, the region acquisition is only performed at the moment by just deviated members without collaboration of all members. Experimental results validate the improved signaling overhead of our study compared to the previous studies.

Current experience with support schemes for RES-E in Europe. A regulatory point of view

International Nuclear Information System (INIS)

Lackner, Ursula

2006-01-01

The need to reduce the dependence of the European economy on imported primary energy and the impact of fossil fuels on the environment has encouraged countries to increase the share of renewable energy sources (RES) for electricity supply. EU Directive 2001/77/EC requires EU Member States to take appropriate steps to introduce new incentive mechanisms in order to reach the target of generating 21 % of the electricity in the EU from RES. At the same time EU Directive 2003/54/EC takes significant steps towards establishing a single market in electricity across the EU. Under this directive, European energy regulators have a number of responsibilities. These include the avoidance of discrimination and the promotion of effective competition along with an efficient functioning of the market. One of their main tasks is to ensure that European consumers pay a final electricity price that is as cost reflective as possible. The final price shall also reflect the social and the environmental costs. At the current stage it is not unlikely that the promotion of renewable energy sources will create significant barriers and distortions on the liberalized electricity market. Several issues arising from the implementation of renewable incentive schemes and policies can be identified and are analysed below; - Conflicting targets on EU-Level; - The variation in the level of incentives may be greater among Member States than is justified by the real level of technology costs, or other factors; - Unbalanced burden sharing for final consumers, due to different allocation mechanisms and designs of support schemes; -The regulation and charges for relevant items of the electricity chain, such as connection and balancing costs, vary significantly among Member States and may introduce competitive advantages. The contents of the paper is as follows: 1 Background; 2 Conflicting targets on EU-Level; 3 Different support levels; 4 Unbalanced burden sharing of final customers; 5 Allocation of

To Invest or Not to Invest, That Is the Question: Analysis of Firm Behavior under Anticipated Shocks

Science.gov (United States)

Kovac, Dejan; Vukovic, Vuk; Kleut, Nikola; Podobnik, Boris

2016-01-01

When companies are faced with an upcoming and expected economic shock some of them tend to react better than others. They adapt by initiating investments thus successfully weathering the storm, while others, even though they possess the same information set, fail to adopt the same business strategy and eventually succumb to the crisis. We use a unique setting of the recent financial crisis in Croatia as an exogenous shock that hit the country with a time lag, allowing the domestic firms to adapt. We perform a survival analysis on the entire population of 144,000 firms in Croatia during the period from 2003 to 2015, and test whether investment prior to the anticipated shock makes firms more likely to survive the recession. We find that small and micro firms, which decided to invest, had between 60 and 70% higher survival rates than similar firms that chose not to invest. This claim is supported by both non-parametric and parametric tests in the survival analysis. From a normative perspective this finding could be important in mitigating the negative effects on aggregate demand during strong recessionary periods. PMID:27508896

IMPLEMENTATION OF OPEN-SOURCE WEB MAPPING TECHNOLOGIES TO SUPPORT MONITORING OF GOVERNMENTAL SCHEMES

Directory of Open Access Journals (Sweden)

B. R. Pulsani

2015-10-01

Full Text Available Several schemes are undertaken by the government to uplift social and economic condition of people. The monitoring of these schemes is done through information technology where involvement of Geographic Information System (GIS is lacking. To demonstrate the benefits of thematic mapping as a tool for assisting the officials in making decisions, a web mapping application for three government programs such as Mother and Child Tracking system (MCTS, Telangana State Housing Corporation Limited (TSHCL and Ground Water Quality Mapping (GWQM has been built. Indeed the three applications depicted the distribution of various parameters thematically and helped in identifying the areas with higher and weaker distributions. Based on the three applications, the study tends to find similarities of many government schemes reflecting the nature of thematic mapping and hence deduces to implement this kind of approach for other schemes as well. These applications have been developed using SharpMap Csharp library which is a free and open source mapping library for developing geospatial applications. The study highlights upon the cost benefits of SharpMap and brings out the advantage of this library over proprietary vendors and further discusses its advantages over other open source libraries as well.

Landscape of Global Health Relevant Investment With a Focus on East Africa and India

Data.gov (United States)

US Agency for International Development — The Global Health Investment Landsacping project database consists of information about impact-oriented and global health-supporting investment funds or capital...

An integrated approach for the improvement of flood control and drainage schemes in the coastal belt of Bangladesh

NARCIS (Netherlands)

Liakath Ali, M.

2002-01-01

During the past decades huge investments have been made in flood protection, drainage and irrigation schemes to reclaim and develop many polder areas in Bangladesh. In these areas a careful water management is required to