WorldWideScience

Sample records for renewables portfolio standards

  1. Analysis of renewable portfolio standards

    Energy Technology Data Exchange (ETDEWEB)

    Bernow, S.; Dougherty, W.; Duckworth, M.

    1997-12-31

    A national RPS would increase the fraction of U.S. electricity generation from renewable technologies at least cost. It would help ensure that the cost and performance of these technologies would improve with manufacturing experience, scale economies, and learning-by-doing from their integration into electric systems. Thus, their economic, environmental, energy security, and sustainability benefits would be realized.

  2. State Clean Energy Practices: Renewable Portfolio Standards

    Energy Technology Data Exchange (ETDEWEB)

    Hurlbut, D.

    2008-07-01

    The State Clean Energy Policies Analysis (SCEPA) project is supported by the Weatherization and Intergovernmental Program within the Department of Energy's Office of Energy Efficiency and Renewable Energy. This project seeks to quantify the impacts of existing state policies, and to identify crucial policy attributes and their potential applicability to other states. The goal is to assist states in determining which clean energy policies or policy portfolios will best accomplish their environmental, economic, and security goals. For example, a renewable portfolio standard (RPS) mandates an increase in the use of wind, solar, biomass, and other alternatives to fossil and nuclear electric generation. This paper provides a summary of the policy objectives that commonly drive the establishment of an RPS, the key issues that states have encountered in implementing an RPS, and the strategies that some of the leading states have followed to address implementation challenges. The factors that help an RPS function best generally have been explored in other analyses. This study complements others by comparing empirical outcomes, and identifying the policies that appear to have the greatest impact on results.

  3. Optimal Energy Mix with Renewable Portfolio Standards in Korea

    Directory of Open Access Journals (Sweden)

    Zong Woo Geem

    2016-05-01

    Full Text Available Korea is a heavily energy-dependent country whose primary energy consumption ranks ninth in the world. However, at the same time, it promised to reduce carbon emission and planned to use more renewable energy. Thus, the objective of this study is to propose an optimal energy mix planning model in electricity generation from various energy sources, such as gas, coal, nuclear, hydro, wind, photovoltaic, and biomass, which considers more renewable and sustainable portions by imposing governmental regulation named renewable portfolio standard (RPS. This optimization model minimizes various costs such as construction cost, operation and management cost, fuel cost, and carbon emission cost while satisfying minimal demand requirement, maximal annual installation potential, and renewable portfolio standard constraints. Results showed that this optimization model could successfully generate energy mix plan from 2012 to 2030 while minimizing the objective costs and satisfying all the constraints. Therefore, this optimization model contributes more efficient and objective method to the complex decision-making process with a sustainability option. This proposed energy mix model is expected to be applied not only to Korea, but also to many other countries in the future for more economical planning of their electricity generation while affecting climate change less.

  4. Assessing the costs and benefits of US renewable portfolio standards

    Science.gov (United States)

    Wiser, Ryan; Mai, Trieu; Millstein, Dev; Barbose, Galen; Bird, Lori; Heeter, Jenny; Keyser, David; Krishnan, Venkat; Macknick, Jordan

    2017-09-01

    Renewable portfolio standards (RPS) exist in 29 US states and the District of Columbia. This article summarizes the first national-level, integrated assessment of the future costs and benefits of existing RPS policies; the same metrics are evaluated under a second scenario in which widespread expansion of these policies is assumed to occur. Depending on assumptions about renewable energy technology advancement and natural gas prices, existing RPS policies increase electric system costs by as much as 31 billion, on a present-value basis over 2015‑2050. The expanded renewable deployment scenario yields incremental costs that range from 23 billion to 194 billion, depending on the assumptions employed. The monetized value of improved air quality and reduced climate damages exceed these costs. Using central assumptions, existing RPS policies yield 97 billion in air-pollution health benefits and 161 billion in climate damage reductions. Under the expanded RPS case, health benefits total 558 billion and climate benefits equal 599 billion. These scenarios also yield benefits in the form of reduced water use. RPS programs are not likely to represent the most cost effective path towards achieving air quality and climate benefits. Nonetheless, the findings suggest that US RPS programs are, on a national basis, cost effective when considering externalities.

  5. Essays in energy economics: An inquiry into Renewable Portfolio Standards

    Science.gov (United States)

    Lamontagne, Laura Marie

    In an attempt to motivate the transition away from fossil fuels, reduce carbon emissions and diversify electricity supply, twenty-nine states and the District of Columbia have adopted a Renewable Portfolio Standard (RPS). An RPS is a form of regulation that requires increased electricity production from renewable energy sources. These standards vary by state but generally require a minimum percentage of electricity generation to come from renewable technologies by a predetermined date. In the first chapter I examine the effect of the adoption of an RPS on electricity rates, making use of the increased availability of data since several policies' adoption. Using a fifty state panel over the years 1990-2010, this study uses a difference-in-difference and a fixed effects estimation to measure how the adoption of an RPS affects the price of electricity in state markets. Empirical findings show that states that have adopted an RPS have approximately a 20% higher all-retail electricity price than states that do not have RPS. Following the adoption of this regulation, a state can expect to see electricity prices rise by roughly 5% on average per year relative to states with no RPS. Once the legislation has been in place for almost a decade, electricity rates begin to dramatically increase upwards of 10% per year. In the second chapter, I observe the economic, social and political factors that prompt a state to adopt a Renewable Portfolio Standard. I estimate a probit model to determine the probability a state will adopt an RPS in a year given its present political and economic climate. Results show that a deregulated electricity market, a high per-capita GDP, a strong democratic presence in the state legislature, high renewable capacity, and a strong incidence of natural gas are indicators a state will pass an RPS. Whether or not a state is a net importer or exporter of electricity is not a significant indicator of adoption of an RPS within a state. The third chapter

  6. Future Costs, Benefits, and Impacts of Renewables Used to Meet U.S. Renewable Portfolio Standards

    Energy Technology Data Exchange (ETDEWEB)

    2016-12-01

    This brochure provides a brief overview of the report titled 'A Prospective Analysis of the Costs, Benefits, and Impacts of U.S. Renewable Portfolio Standards.' The report evaluates the future costs, benefits, and other impacts of renewable energy used to meet current state renewable portfolio standards (RPSs). It also examines a future scenario where RPSs are expanded. The analysis examines changes in electric system costs and retail electricity prices, which include all fixed and operating costs, including capital costs for all renewable, non-renewable, and supporting (e.g., transmission and storage) electric sector infrastructure; fossil fuel, uranium, and biomass fuel costs; and plant operations and maintenance expenditures. The analysis evaluates three specific benefits: air pollution, greenhouse gas emissions, and water use. It also analyzes two other impacts, renewable energy workforce and economic development, and natural gas price suppression. The analysis finds that the benefits or renewable energy used to meet RPS polices exceed the costs, even when considering the highest cost and lowest benefit outcomes.

  7. The effect of state renewable portfolio standards on consumer participation in green pricing programs

    Science.gov (United States)

    Maltese, James L.

    In the last several years, two mechanisms for increasing the supply of renewable electricity have become increasingly popular: renewable portfolio standards, a state policy of mandating increased production of green power; and green pricing programs, which allow customers to purchase green power through their utilities. These mechanisms have been effective in increasing the adoption of renewable energy; however, it is unclear whether they interact in a way that is mutually beneficial or counterproductive. It is important to understand the effect of renewable portfolio standards on the voluntary market for green energy, especially as Congress considers a nationwide portfolio standard. The effectiveness of a renewable portfolio standard may be undercut if it leads customers to purchase less green power. This study analyzes the relationship between the passage and implementation of a renewable portfolio standard and two measures of enrollment in utility green pricing programs. Using eight years of data for all fifty states, the study utilizes multiple regression analysis with fixed-effects estimation. The results indicate that the passage of a renewable portfolio standard has a positive and statistically significant effect on green pricing enrollment within the state. At the same time, the rate at which states increase the stringency of the renewable portfolio standard is found to have no effect on enrollment. Although further study is needed to determine if additional factors are responsible for the observed increase in green pricing enrollment, this study provides evidence that such programs do not harm, and may in fact encourage, voluntary purchases of green power.

  8. U.S. Renewables Portfolio Standards: 2017 Annual Status Report

    Energy Technology Data Exchange (ETDEWEB)

    Barbose, Galen [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2017-07-25

    Berkeley Lab’s annual status report on U.S. renewables portfolio standards (RPS) provides an overview of key trends associated with U.S. state RPS policies. The report, published in slide-deck form, describes recent legislative revisions, key policy design features, compliance with interim targets, past and projected impacts on renewables development, and compliance costs. The 2017 edition of the report presents historical data through year-end 2016 and projections through 2030. Key trends from this edition of the report include the following: -Evolution of state RPS programs: Significant RPS-related policy revisions since the start of 2016 include increased RPS targets in DC, MD, MI, NY, RI, and OR; requirements for new wind and solar projects and other major reforms to the RPS procurement process in IL; and a new offshore wind carve-out and solar procurement program in MA. -Historical impacts on renewables development: Roughly half of all growth in U.S. renewable electricity (RE) generation and capacity since 2000 is associated with state RPS requirements. Nationally, the role of RPS policies has diminished over time, representing 44% of all U.S. RE capacity additions in 2016. However, within particular regions, RPS policies continue to play a central role in supporting RE growth, constituting 70-90% of 2016 RE capacity additions in the West, Mid-Atlantic, and Northeast. -Future RPS demand and incremental needs: Meeting RPS demand growth will require roughly a 50% increase in U.S. RE generation by 2030, equating to 55 GW of new RE capacity. To meet future RPS demand, total U.S. RE generation will need to reach 13% of electricity sales by 2030 (compared to 10% today), though other drivers will also continue to influence RE growth. -RPS target achievement to-date: States have generally met their interim RPS targets in recent years, with only a few exceptions reflecting unique state-specific policy designs. -REC pricing trends: Prices for renewable energy

  9. Utilizing GIS to Examine the Relationship Between State Renewable Portfolio Standards and the Adoption of Renewable Energy Technologies

    Directory of Open Access Journals (Sweden)

    Chelsea Schelly

    2013-12-01

    Full Text Available In the United States, there is no comprehensive energy policy at the federal level. To address issues as diverse as climate change, energy security, and economic development, individual states have increasingly implemented Renewable Portfolio Standards (RPSs, which mandate that utility providers include a specified amount of electricity from renewable energy sources in their total energy portfolios. Some states have included incentives for individual energy technologies in their RPS, such as solar electric (also called photovoltaic or PV technology. Here, we use GIS to visualize adoption of RPSs and electricity generation from renewable energy sources in the US and examine changes in renewable electricity and solar electric generation over time with the goal of informing future policies aimed at promoting the adoption of renewable energy technologies.

  10. Including Alternative Resources in State Renewable Portfolio Standards: Current Design and Implementation Experience

    Energy Technology Data Exchange (ETDEWEB)

    Heeter, J.; Bird, L.

    2012-11-01

    Currently, 29 states, the District of Columbia, and Puerto Rico have instituted a renewable portfolio standard (RPS). An RPS sets a minimum threshold for how much renewable energy must be generated in a given year. Each state policy is unique, varying in percentage targets, timetables, and eligible resources. This paper examines state experience with implementing renewable portfolio standards that include energy efficiency, thermal resources, and non-renewable energy and explores compliance experience, costs, and how states evaluate, measure, and verify energy efficiency and convert thermal energy. It aims to gain insights from the experience of states for possible federal clean energy policy as well as to share experience and lessons for state RPS implementation.

  11. A Prospective Analysis of the Costs, Benefits, and Impacts of U.S. Renewable Portfolio Standards

    Energy Technology Data Exchange (ETDEWEB)

    Mai, Trieu [National Renewable Energy Lab. (NREL), Golden, CO (United States); Wiser, Ryan [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Barbose, Galen [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Bird, Lori [National Renewable Energy Lab. (NREL), Golden, CO (United States); Heeter, Jenny [National Renewable Energy Lab. (NREL), Golden, CO (United States); Keyser, David [National Renewable Energy Lab. (NREL), Golden, CO (United States); Krishnan, Venkat [National Renewable Energy Lab. (NREL), Golden, CO (United States); Macknick, Jordan [National Renewable Energy Lab. (NREL), Golden, CO (United States); Millstein, Dev [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2016-12-01

    This report evaluates the future costs, benefits, and other impacts of renewable energy used to meet current state renewable portfolio standards (RPSs). It also examines a future scenario where RPSs are expanded. The analysis examines changes in electric system costs and retail electricity prices, which include all fixed and operating costs, including capital costs for all renewable, non-renewable, and supporting (e.g., transmission and storage) electric sector infrastructure; fossil fuel, uranium, and biomass fuel costs; and plant operations and maintenance expenditures. The analysis evaluates three specific benefits: air pollution, greenhouse gas emissions, and water use. It also analyzes two other impacts, renewable energy workforce and economic development, and natural gas price suppression. This analysis finds that the benefits or renewable energy used to meet RPS polices exceed the costs, even when considering the highest cost and lowest benefit outcomes.

  12. Reduced emissions and lower costs: combining renewable energy and energy efficiency into a sustainable energy portfolio standard

    Energy Technology Data Exchange (ETDEWEB)

    Brown, Marilyn A.; York, Dan; Kushler, Martin

    2007-05-15

    Combining renewable energy and energy efficiency in Sustainable Energy Portfolio Standard (SEPS) has emerged as a key state and national policy option to achieve greater levels of sustainable energy resources with maximum economic efficiency and equity. One advantage of the SEPS relative to a renewable portfolio standard or a stand-alone energy efficiency resource standard is enhanced flexibility and broader options for meeting targets. (author)

  13. Overall review of feed-in tariff and renewable portfolio standard policy: A perspective of China

    Science.gov (United States)

    Yan, Q. Y.; Zhang, Q.; Yang, L.; Wang, X.

    2016-08-01

    A major share of China's total carbon dioxide (CO2) emissions is from the electric power sector. To solve this problem, Chinese government has implemented many renewable energy policies in the electric power sector. In China, the most popular renewable energy policies are Feed-in tariff (FIT) and renewable portfolio standard (RPS). This paper first introduces the current development of renewable electricity generation. Second the design plan and implement of FIT and RPS in China's thermal electricity generation sector are summarized in this paper. Third this paper establishes a complementary mode of FIT and RPS which can provide a stable environment to make the FIT and RPS work together. Finally, based on the above analysis, this paper proposes relative suggestions for the implementation of FIT and RPS in China making recommendation for the development of electricity generation from renewable energy.

  14. Renewable Portfolio Standards in the States: Balancing Goals and Implementation Strategies

    Energy Technology Data Exchange (ETDEWEB)

    Cory, K. S.; Swezey, B. G.

    2007-12-01

    This paper reports on renewable portfolio standards (RPS) and how the RPS rules vary from state to state. This variation presents important challenges to successful implementation. Key issues are discussed in terms of resource availability, solar-specific provisions, and political and regulatory consistency, and their impacts on the ability to finance new renewable energy projects. This report emphasizes the fact that a successful RPS policy must balance a state's goals for fuel diversity, economic development, price effects, and environmental benefits.

  15. Multi-Year Analysis Examines Costs, Benefits, and Impacts of Renewable Portfolio Standards

    Energy Technology Data Exchange (ETDEWEB)

    2016-01-01

    As states consider revising renewable portfolio standard (RPS) programs or developing new ones, careful assessments of the costs, benefits, and other impacts of existing policies will be critical. RPS programs currently exist in 29 states and Washington, D.C. Many of these policies, which were enacted largely during the late 1990s and 2000s, will reach their terminal targets by the end of this decade. The National Renewable Energy Laboratory (NREL) and Lawrence Berkeley National Laboratory (LBNL) are engaged in a multi-year project to examine the costs, benefits, and other impacts of state RPS polices both retrospectively and prospectively. This fact sheet overviews this work.

  16. The Treatment of Renewable Energy Certificates, EmissionsAllowances, and Green Power Programs in State Renewables PortfolioStandards

    Energy Technology Data Exchange (ETDEWEB)

    Holt, Edward A.; Wiser, Ryan H.

    2007-04-17

    Twenty-one states and the District of Columbia have adopted mandatory renewables portfolio standards (RPS) over the last ten years. Renewable energy attributes-such as the energy source, conversion technology, plant location and vintage, and emissions-are usually required to verify compliance with these policies, sometimes through attributes bundled with electricity, and sometimes with the attributes unbundled from electricity and traded separately as renewable energy certificates (RECs). This report summarizes the treatment of renewable energy attributes in state RPS rules. Its purpose is to provide a source of information for states considering RPS policies, and also to draw attention to certain policy issues that arise when renewable attributes and RECs are used for RPS compliance. Three specific issues are addressed: (1) the degree to which unbundled RECs are allowed under existing state RPS programs and the status of systems to track RECs and renewable energy attributes; (2) definitions of the renewable energy attributes that must be included in order to meet state RPS obligations, including the treatment of available emissions allowances; and (3) state policies on whether renewable energy or RECs sold through voluntary green power transactions may count towards RPS obligations.

  17. Charging a renewable future: The impact of electric vehicle charging intelligence on energy storage requirements to meet renewable portfolio standards

    Science.gov (United States)

    Forrest, Kate E.; Tarroja, Brian; Zhang, Li; Shaffer, Brendan; Samuelsen, Scott

    2016-12-01

    Increased usage of renewable energy resources is key for energy system evolution to address environmental concerns. Capturing variable renewable power requires the use of energy storage to shift generation and load demand. The integration of plug-in electric vehicles, however, impacts the load demand profile and therefore the capacity of energy storage required to meet renewable utilization targets. This study examines how the intelligence of plug-in electric vehicle (PEV) integration impacts the required capacity of energy storage systems to meet renewable utilization targets for a large-scale energy system, using California as an example for meeting a 50% and 80% renewable portfolio standard (RPS) in 2030 and 2050. For an 80% RPS in 2050, immediate charging of PEVs requires the installation of an aggregate energy storage system with a power capacity of 60% of the installed renewable capacity and an energy capacity of 2.3% of annual renewable generation. With smart charging of PEVs, required power capacity drops to 16% and required energy capacity drops to 0.6%, and with vehicle-to-grid (V2G) charging, non-vehicle energy storage systems are no longer required. Overall, this study highlights the importance of intelligent PEV charging for minimizing the scale of infrastructure required to meet renewable utilization targets.

  18. Evaluating renewable portfolio standards and carbon cap scenarios in the U.S. electric sector

    Energy Technology Data Exchange (ETDEWEB)

    Bird, Lori; Chapman, Caroline; Logan, Jeff [National Renewable Energy Laboratory (NREL), 1617 Cole Boulevard, MS RSF 100, Golden, CO 80401 (United States); Sumner, Jenny, E-mail: jenny.sumner@nrel.go [National Renewable Energy Laboratory (NREL), 1617 Cole Boulevard, MS RSF 100, Golden, CO 80401 (United States); Short, Walter [National Renewable Energy Laboratory (NREL), 1617 Cole Boulevard, MS RSF 100, Golden, CO 80401 (United States)

    2011-05-15

    This report examines the impact of renewable portfolio standards (RPS) and cap-and-trade policy options on the U.S. electricity sector. The analysis uses the National Renewable Energy Laboratory's Regional Energy Deployment System (ReEDS) model that simulates the least-cost expansion of electricity generation capacity and transmission in the U.S. to examine the impact of a variety of emissions caps-and RPS scenarios both individually and combined. The generation mix, carbon emissions, and electricity price are examined for various policy combinations simulated in the modeling. - Research highlights: {yields} The report examines renewable portfolio standards and cap-and-trade policy options. {yields} The analysis uses the NREL's Regional Energy Deployment System model. {yields} A carbon emissions cap and an RPS can be complementary policies.{yields} The cap alone case drives significant renewable generation.{yields} A 25% RPS has similar near term emissions as base cap at similar electricity price.

  19. Of paradise and clean power: The effect of California's renewable portfolio standard on in-state renewable energy generation

    Science.gov (United States)

    Yin, Clifton Lee

    Renewable portfolio standards (RPS), policies that encourage acquisition of electricity from renewable energy sources, have become popular instruments for discouraging the use of climate change inducing-fossil fuels. There has been limited research, however, that empirically evaluates their effectiveness. Using data gathered by three governmental entities -- the federal-level Energy Information Administration and two California agencies, the Employment Development Department and the Department of Finance -- this paper investigates the impact of California's RPS, one of the nation's most ambitious such policies, on in-state renewable energy generation. It finds that the California RPS did not bring about a one-time increase in generation with its inception, nor did it compel an increase in generation over time. These results raise questions as to the best way to structure RPS policies in light of growing interest in the establishment of a national RPS.

  20. Retrospective Analysis of the Benefits and Impacts of U.S. Renewable Portfolio Standards

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, Ryan [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Barbose, Galen [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Heeter, Jenny [National Renewable Energy Lab. (NREL), Golden, CO (United States); Mai, Trieu [National Renewable Energy Lab. (NREL), Golden, CO (United States); Bird, Lori [National Renewable Energy Lab. (NREL), Golden, CO (United States); Bolinger, Mark [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Carpenter, Alberta [National Renewable Energy Lab. (NREL), Golden, CO (United States); Heath, Garvin [National Renewable Energy Lab. (NREL), Golden, CO (United States); Keyser, David [National Renewable Energy Lab. (NREL), Golden, CO (United States); Macknick, Jordan [National Renewable Energy Lab. (NREL), Golden, CO (United States); Mills, Andrew [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Millstein, Dev [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2016-01-06

    This analysis is the first-ever comprehensive assessment of the benefits and impacts of state renewable portfolio standards (RPSs). This joint National Renewable Energy Laboratory-Lawrence Berkeley National Laboratory project provides a retrospective analysis of RPS program benefits and impacts, including greenhouse gas emissions reductions, air pollution emission reductions, water use reductions, gross jobs and economic development impacts, wholesale electricity price reduction impacts, and natural gas price reduction impacts. Wherever possible, benefits and impacts are quantified in monetary terms. The paper will inform state policymakers, RPS program administrators, industry, and others about the costs and benefits of state RPS programs. In particular, the work seeks to inform decision-making surrounding ongoing legislative proposals to scale back, freeze, or expand existing RPS programs, as well as future discussions about increasing RPS targets or otherwise increasing renewable energy associated with Clean Power Plan compliance or other emission-reduction goals.

  1. The Economic Viability of Renewable Portfolio Standard Support for Offshore Wind Farm Projects in Korea

    Directory of Open Access Journals (Sweden)

    Chang-Gi Min

    2015-09-01

    Full Text Available Offshore wind farm (WF projects have been promoted by support schemes as part of the expansion of renewable energy resources in Korea. This paper examines in detail how the Renewable Portfolio Standard (RPS, which was adopted post the Feed-in-Tariff scheme in 2012, has had a profound impact on the economic benefits of offshore WFs in Korea. A framework for analyzing the economic viability of RPS is presented and applied to the sixth basic plan for long-term electricity supply and demand in Korea. The electricity market price is forecast using a reformulated probabilistic production cost (PPC model, and the renewable energy certificate (REC price is calculated using its determination rule. The results show that the existing RPS will be ineffective in increasing the penetration of offshore WFs in Korea; however, they also indicate that the economic viability of offshore WFs could be improved by adjusting the existing RPS.

  2. Evaluating Renewable Portfolio Standards and Carbon Cap Scenarios in the U.S. Electric Sector

    Energy Technology Data Exchange (ETDEWEB)

    Bird, L.; Chapman, C.; Logan, J.; Sumner, J.; Short, W.

    2010-05-01

    This report examines the impact of various renewable portfolio standards (RPS) and cap-and-trade policy options on the U.S. electricity sector, focusing mainly on renewable energy generation. The analysis uses the National Renewable Energy Laboratory's Regional Energy Deployment System (ReEDS) model that simulates the least-cost expansion of electricity generation capacity and transmission in the United States to examine the impact of an emissions cap--similar to that proposed in the Waxman-Markey bill (H.R. 2454)--as well as lower and higher cap scenarios. It also examines the effects of combining various RPS targets with the emissions caps. The generation mix, carbon emissions, and electricity price are examined for various policy combinations to simulate the effect of implementing policies simultaneously.

  3. Retrospective Analysis of the Benefits and Impacts of U.S. Renewable Portfolio Standards

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, Ryan [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Barbose, Galen [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Heeter, Jenny [National Renewable Energy Lab. (NREL), Golden, CO (United States); Mai, Trieu [National Renewable Energy Lab. (NREL), Golden, CO (United States); Bird, Lori [National Renewable Energy Lab. (NREL), Golden, CO (United States); Bolinger, Mark [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Carpenter, Alberta [National Renewable Energy Lab. (NREL), Golden, CO (United States); Heath, Garvin [National Renewable Energy Lab. (NREL), Golden, CO (United States); Keyser, David [National Renewable Energy Lab. (NREL), Golden, CO (United States); Macknick, Jordan [National Renewable Energy Lab. (NREL), Golden, CO (United States); Mills, Andrew [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Millstein, Dev [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2016-01-06

    This analysis is the first-ever comprehensive assessment of the benefits and impacts of state renewable portfolio standards (RPSs). This joint National Renewable Energy Laboratory-Lawrence Berkeley National Laboratory project provides a retrospective analysis of RPS program benefits and impacts, including greenhouse gas emissions reductions, air pollution emission reductions, water use reductions, gross jobs and economic development impacts, wholesale electricity price reduction impacts, and natural gas price reduction impacts. Wherever possible, benefits and impacts are quantified in monetary terms. The paper will inform state policymakers, RPS program administrators, industry, and others about the costs and benefits of state RPS programs. In particular, the work seeks to inform decision-making surrounding ongoing legislative proposals to scale back, freeze, or expand existing RPS programs, as well as future discussions about increasing RPS targets or otherwise increasing renewable energy associated with Clean Power Plan compliance or other emission-reduction goals.

  4. The effectiveness of Renewable Portfolio Standard banding and carve-outs in supporting high-cost types of renewable electricity

    Energy Technology Data Exchange (ETDEWEB)

    Buckman, Greg, E-mail: greg.buckman@anu.edu.au [Fenner School of Environment and Society, Australian National University, Acton, ACT 0200, Canberra (Australia)

    2011-07-15

    Renewable Portfolio Standards (RPSs) are renewable electricity (RES-E) subsidy mechanisms in which governments mandate how much RES-E should be generated and markets determine the cost of the subsidy needed to generate the RES-E. Two modifications of the RPS that can help support high-cost types of RES-E are banding, where governments mandate higher multiples of RPS tradable certificates for high-cost types of RES-E, and carve-outs, where governments prescribe parts of a RPS target that can be met only by a particular type, or types, of RES-E. This paper analyses the design and generation performance of banding, as used in the UK, with some reference to Italy; and carve-outs, as used in the USA. To date, there is insufficient experience of either device to reach firm conclusions about their generation effectiveness. However, there is early, tentative evidence that banding is successful at supporting high-cost types of RES-E in the UK. Carve-outs are not being fully exploited in US states that use a RPS mechanism, and Italy is using banding in a fairly insignificant way. Though both devices have different design strengths and weaknesses, and either could be adapted to specific RPS markets, banding is probably the better device for supporting high-cost RES-E. - Highlights: > I analysed three countries that use either Renewable Portfolio Standards banding or carve-outs. > I assess whether banding or carve-outs have diversified renewable electricity generation. > There's insufficient banding/carve-out experience to reach firm diversification conclusions. > There's early evidence that the UK banding is diversifying its renewable electricity.

  5. A Prospective Analysis of the Costs, Benefits, and Impacts of U.S. Renewable Portfolio Standards

    Energy Technology Data Exchange (ETDEWEB)

    Mai, Trieu [National Renewable Energy Lab. (NREL), Golden, CO (United States); Wiser, Ryan [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Barbose, Galen [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Bird, Lori [National Renewable Energy Lab. (NREL), Golden, CO (United States); Heeter, Jenny [National Renewable Energy Lab. (NREL), Golden, CO (United States); Keyser, David [National Renewable Energy Lab. (NREL), Golden, CO (United States); Krishnan, Venkat [National Renewable Energy Lab. (NREL), Golden, CO (United States); Macknick, Jordan [National Renewable Energy Lab. (NREL), Golden, CO (United States); Millstein, Dev [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2016-12-01

    This is the third in a series of reports exploring the costs, benefits, and other impacts of state renewable portfolio standards (RPS). This report evaluates the effects of renewable electricity used to meet aggregate RPS demand growth prospectively, over the period 2015-2050, under both current RPS policies as well as a potential expansion of those policies. Relying on a well-vetted suite of methods, the report quantifies: the costs to the electric system and retail electricity price impacts; the potential societal benefits associated with reduced greenhouse gas emissions, air pollution emissions, and water use; workforce requirements and economic development effects; and consumer savings associated with reduced natural gas prices. The study quantifies these effects in both physical and monetary terms, where possible, at both national and regional levels, and characterizes key uncertainties. The two prior studies in the series have focused, instead, on the historical costs and on the historical benefits and impacts of state RPS policies.

  6. Supporting Solar Power in Renewables Portfolio Standards: Experience from the United States

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, Ryan; Barbose, Galen; Holt, Edward

    2010-10-01

    Among the available options for encouraging the increased deployment of renewable electricity, renewables portfolio standards (RPS) have become increasingly popular. The RPS is a relatively new policy mechanism, however, and experience with its use is only beginning to emerge. One key concern that has been voiced is whether RPS policies will offer adequate support to a wide range of renewable energy technologies and applications or whether, alternatively, RPS programs will favor a small number of the currently least-cost forms of renewable energy. This report documents the design of and early experience with state-level RPS programs in the United States that have been specifically tailored to encourage a wider diversity of renewable energy technologies, and solar energy in particular. As shown here, state-level RPS programs specifically designed to support solar have already proven to be an important, albeit somewhat modest, driver for solar energy deployment, and those impacts are projected to continue to build in the coming years. State experience in supporting solar energy with RPS programs is mixed, however, and full compliance with existing requirements has not been achieved. The comparative experiences described herein highlight the opportunities and challenges of applying an RPS to specifically support solar energy, as well as the importance of policy design details to ensuring that program goals are achieved.

  7. Renewable Portfolio Standards in the United States - A Status Report with Data Through 2007

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, Ryan; Wiser, Ryan; Barbose, Galen; Bird, Lori; Churchill, Susannah; Deyette, Jeff; Holt, Ed

    2008-04-09

    Renewables portfolio standards (RPS) have proliferated at the state level in the United States since the late 1990s. In combination with Federal tax incentives, state RPS requirements have emerged as one of the most important drivers of renewable energy capacity additions. The focus of most RPS activity in the U.S. has been within the states. Nonetheless, the U.S. House of Representatives and Senate have, at different times, each passed versions of a Federal RPS; a Federal RPS, however, has not yet been signed into law. The design of an RPS can and does vary, but at its heart an RPS simply requires retail electricity suppliers (also called load-serving entities, or LSEs) to procure a certain minimum quantity of eligible renewable energy. An RPS establishes numeric targets for renewable energy supply, applies those targets to retail electricity suppliers, and seeks to encourage competition among renewable developers to meet the targets in a least-cost fashion. RPS purchase obligations generally increase over time, and retail suppliers typically must demonstrate compliance on an annual basis. Mandatory RPS policies are backed by various types of compliance enforcement mechanisms, and many--but not all--such policies include the trading of renewable energy certificates (RECs). Renewables portfolio standards are a relatively recent addition to the renewable energy policy landscape, and these policies continue to evolve. Keeping up with the design, early experience, and projected impacts of these programs is a challenge. This report seeks to fill this need by providing basic, factual information on RPS policies in the United States. It focuses on state-level initiatives, though a later section briefly discusses Federal developments as well. The report does not cover municipal-level renewable energy goals, unless required by state law. Similarly, this report focuses on mandatory state RPS requirements, though it also touches on non-binding renewable energy goals

  8. A Retrospective Analysis of the Benefits and Impacts of U.S. Renewable Portfolio Standards

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, Ryan [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Barbose, Galen [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Heeter, Jenny [National Renewable Energy Lab. (NREL), Golden, CO (United States); Mai, Trieu [National Renewable Energy Lab. (NREL), Golden, CO (United States); Bird, Lori [National Renewable Energy Lab. (NREL), Golden, CO (United States); Bolinger, Mark [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Carpenter, Alberta [National Renewable Energy Lab. (NREL), Golden, CO (United States); Heath, Garvin [National Renewable Energy Lab. (NREL), Golden, CO (United States); Keyser, David [National Renewable Energy Lab. (NREL), Golden, CO (United States); Macknick, Jordan [National Renewable Energy Lab. (NREL), Golden, CO (United States); Mills, Andrew [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Millstein, Dev [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2016-01-01

    This is the second in a series of reports exploring the costs, benefits, and other impacts of state renewable portfolio standards (RPS), both retrospectively and prospectively. This report focuses on the benefits and impacts of all state RPS programs, in aggregate, for the year 2013 (the most-recent year for which the requisite data were available). Relying on a well-vetted set of methods, the study evaluates a number of important benefits and impacts in both physical and monetary terms, where possible, and characterizes key uncertainties. The prior study in this series focused on historical RPS compliance costs, and future work will evaluate costs, benefits, and other impacts of RPS policies prospectively.

  9. A retrospective analysis of benefits and impacts of U.S. renewable portfolio standards

    Energy Technology Data Exchange (ETDEWEB)

    Barbose, Galen; Wiser, Ryan; Heeter, Jenny; Mai, Trieu; Bird, Lori; Bolinger, Mark; Carpenter, Alberta; Heath, Garvin; Keyser, David; Macknick, Jordan; Mills, Andrew; Millstein, Dev

    2016-09-01

    As states consider revising or developing renewable portfolio standards (RPS), they are evaluating policy costs, benefits, and other impacts. We present the first U. S. national-level assessment of state RPS program benefits and impacts, focusing on new renewable electricity resources used to meet RPS compliance obligations in 2013. In our central-case scenario, reductions in life-cycle greenhouse gas emissions from displaced fossil fuel-generated electricity resulted in $2.2 billion of global benefits. Health and environmental benefits from reductions in criteria air pollutants (sulfur dioxide, nitrogen oxides, and particulate matter 2.5) were even greater, estimated at $5.2 billion in the central case. Further benefits accrued in the form of reductions in water withdrawals and consumption for power generation. Finally, although best considered resource transfers rather than net societal benefits, new renewable electricity generation used for RPS compliance in 2013 also supported nearly 200,000 U. S.-based gross jobs and reduced wholesale electricity prices and natural gas prices, saving consumers a combined $1.3-$4.9 billion. In total, the estimated benefits and impacts well-exceed previous estimates of RPS compliance costs.

  10. A Retrospective Analysis of Benefits and Impacts of U.S. Renewable Portfolio Standards

    Energy Technology Data Exchange (ETDEWEB)

    Barbose, Galen; Wiser, Ryan; Heeter, Jenny; Mai, Trieu; Bird, Lori; Bolinger, Mark; Carpenter, Alberta; Heath, Garvin; Keyser, David; Macknick, Jordan; Mills, Andrew; Millstein, Dev

    2016-09-01

    As states consider revising or developing renewable portfolio standards (RPS), they are evaluating policy costs, benefits, and other impacts. We present the first U. S. national-level assessment of state RPS program benefits and impacts, focusing on new renewable electricity resources used to meet RPS compliance obligations in 2013. In our central-case scenario, reductions in life-cycle greenhouse gas emissions from displaced fossil fuel-generated electricity resulted in $2.2 billion of global benefits. Health and environmental benefits from reductions in criteria air pollutants (sulfur dioxide, nitrogen oxides, and particulate matter 2.5) were even greater, estimated at $5.2 billion in the central case. Further benefits accrued in the form of reductions in water withdrawals and consumption for power generation. Finally, although best considered resource transfers rather than net societal benefits, new renewable electricity generation used for RPS compliance in 2013 also supported nearly 200,000 U. S.-based gross jobs and reduced wholesale electricity prices and natural gas prices, saving consumers a combined $1.3-$4.9 billion. In total, the estimated benefits and impacts well-exceed previous estimates of RPS compliance costs.

  11. Supporting solar power in renewables portfolio standards: Experience from the United States

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, Ryan [Electricity Markets and Policy Group, Lawrence Berkeley National Laboratory, Berkeley, CA 94720 (United States); Barbose, Galen, E-mail: glbarbose@lbl.gov [Electricity Markets and Policy Group, Lawrence Berkeley National Laboratory, Berkeley, CA 94720 (United States); Holt, Edward [Ed Holt and Associates, Inc., Harpswell, ME 04079 (United States)

    2011-07-15

    Renewables portfolio standards (RPS) have become an increasingly popular option for encouraging the deployment of renewable electricity. It is a relatively new policy mechanism, however, and experience with its use is only beginning to emerge. One key concern is whether RPS policies offer adequate support to a wide range of renewable energy technologies and applications or whether, alternatively, they will favor a small number of the currently least-cost forms of renewable energy. This article documents the design of and early experience with state-level RPS programs in the United States that have been specifically tailored to encourage a wider diversity of renewable energy technologies, and solar energy in particular. As shown here, state-level RPS programs specifically designed to support solar have already proven to be an important driver for solar energy deployment, and those impacts are projected to build in the coming years. State experience in supporting solar energy with RPS programs is mixed, however, and full compliance with existing requirements has not been achieved. The comparative experiences described herein highlight the opportunities and challenges of applying an RPS to specifically support solar energy, as well as the importance of policy design details to ensuring that program goals are achieved. - Research Highlights: > Many states have adopted RPS policies with solar or DG set-asides. > Solar and DG set-asides have become a significant driver for solar growth. > Compliance with solar/DG set-aside targets has been mixed. > The estimated retail rate impacts have thus far been relatively modest. > Various emerging issues will affect the future impact of RPS policies on solar growth.

  12. Renewables Portfolio Standards: A Factual Introduction toExperience from the United States

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, R.; Namovicz, C.; Gielecki, M.; Smith, R.

    2007-05-09

    Renewables portfolio standards (RPS) have--since the late 1990s--proliferated at the state level in the United States. What began as a policy idea minted in California and first described in detail in the pages of the 'Electricity Journal' FPT has emerged as an important driver for renewable energy capacity additions in the United States. Over the years, articles in the 'Electricity Journal' have explored the RPS in more detail, identifying both its strengths and weaknesses. The present article provides an introduction to the history, concept, and design of the RPS, reviews early experience with the policy as applied at the state level, and provides a brief overview of Federal RPS proposals to date and the possible relationship between Federal and state RPS policies. Our purpose is to offer a factual introduction to the RPS, as applied and considered in the U.S. Though elements of state RPS design are summarized here, other publications provide a more thorough review of design lessons that emerge from that experience. In addition, the present article does not describe the results of economic analyses of Federal RPS proposals, though we do cite many of the analyses conducted by the U.S. DOE's Energy Information Administration (EIA).

  13. Is it Worth it? A Comparative Analysis of Cost-Benefit Projectionsfor State Renewables Portfolio Standards

    Energy Technology Data Exchange (ETDEWEB)

    Chen, Cliff; Wiser, Ryan; Bolinger, Mark

    2006-06-05

    State renewables portfolio standards (RPS) have emerged as one of the most important policy drivers of renewable energy capacity expansion in the U.S. Collectively, these policies now apply to almost 40% of U.S. electricity load, and may have substantial impacts on electricity markets, ratepayers, and local economies. As RPS policies have been proposed or adopted in an increasing number of states, a growing number of studies have attempted to quantify the potential impacts of these policies, focusing primarily on projecting cost impacts, but sometimes also estimating macroeconomic and environmental effects. This report synthesizes and analyzes the results and methodologies of twenty-six distinct state or utility-level RPS cost impact analyses completed since 1998 (see Figure 1 and Appendix for a complete list of the studies). Together, these studies model proposed or adopted RPS policies in seventeen different states. We highlight the key findings of these studies on the costs and benefits of RPS policies, examine the sensitivity of projected costs to model assumptions, assess the attributes of different modeling approaches, and suggest possible areas of improvement for future RPS analysis.

  14. The Costs and Benefits of Compliance with Renewable Portfolio Standards: Reviewing Experience to Date

    Energy Technology Data Exchange (ETDEWEB)

    Heeter, Jenny; Barbose, Galen; Bird, Lori; Weaver, Samantha; Flores, Francisco; Kuskova-Burns, Ksenia; Wiser, Ryan

    2014-03-12

    More than half of U.S. states have renewable portfolio standards (RPS) in place and have collectively deployed approximately 46,000 MW of new renewable energy capacity through year-end 2012. Most of these policies have five or more years of implementation experience, enabling an assessment of their costs and benefits. Understanding RPS benefits and costs is essential for policymakers evaluating existing RPS policies, assessing the need for modifications, and considering new policies. A key aspect of this study is the comprehensive review of existing RPS cost and benefit estimates, in addition to an examination of the variety of methods used to calculate such estimates. Based on available data and estimates reported by utilities and regulators, this study summarizes RPS costs to date. The study considers how those costs may evolve going forward, given scheduled increases in RPS targets and cost containment mechanisms incorporated into existing policies. The report also summarizes RPS benefits estimates, based on published studies for individual states, and discusses key methodological considerations.

  15. A Prospective Analysis of the Costs, Benefits, and Impacts of U.S. Renewable Portfolio Standards

    Energy Technology Data Exchange (ETDEWEB)

    Mai, Trieu [National Renewable Energy Lab. (NREL), Golden, CO (United States); Wiser, Ryan [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Barbose, Galen [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Bird, Lori [National Renewable Energy Lab. (NREL), Golden, CO (United States); Heeter, Jenny [National Renewable Energy Lab. (NREL), Golden, CO (United States); Keyser, David [National Renewable Energy Lab. (NREL), Golden, CO (United States); Krishnan, Venkat [National Renewable Energy Lab. (NREL), Golden, CO (United States); Macknick, Jordan [National Renewable Energy Lab. (NREL), Golden, CO (United States); Millstein, Dev [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2016-12-31

    As states have gained experience with renewable portfolio standards (RPS) policies, many have made significant revisions to existing programs. In 2015 and 2016, seven states raised and extended their final RPS targets, while another state enacted a new RPS policy (Barbose 2016b). Interest in expanding and strengthening state RPS programs may continue, while efforts like recent proposals in many states to repeal or freeze existing RPS policies may also persist. In either context, questions about the potential costs, benefits, and other impacts of RPS programs are usually central to the decision-making process. This report follows on previous analyses that have focused on the historical costs, benefits, and other impacts of existing state RPS programs (Heeter et al. 2014; Wiser et al. 2016a). This report examines RPS outcomes prospectively, considering both current RPS policies as well as a potential expansion of those policies. The goal of this work is to provide a consistent and independent analytical methodology for that examination. This analysis relies on National Renewable Energy Laboratory’s (NREL’s) Regional Energy Deployment System (ReEDS) model to estimate changes to the U.S. electric power sector across a number of scenarios and sensitivity cases, focusing on the 2015–2050 timeframe. Based on those modeled results, we evaluate the costs, benefits, and other impacts of renewable energy contributing to RPS compliance using the suite of methods employed in a number of recent studies sponsored by the U.S. Department of Energy (DOE): a report examining retrospective benefits and impacts of RPS programs (Wiser et al. 2016a), the Wind Vision report (DOE 2015), the On the Path to SunShot report focusing on environmental benefits (Wiser et al. 2016b), and the Hydropower Vision report (DOE 2016).

  16. Survey of State-Level Cost and Benefit Estimates of Renewable Portfolio Standards

    Energy Technology Data Exchange (ETDEWEB)

    Heeter, J.; Barbose, G.; Bird, L.; Weaver, S.; Flores-Espino, F.; Kuskova-Burns, K.; Wiser, R.

    2014-05-01

    Most renewable portfolio standards (RPS) have five or more years of implementation experience, enabling an assessment of their costs and benefits. Understanding RPS costs and benefits is essential for policymakers evaluating existing RPS policies, assessing the need for modifications, and considering new policies. This study provides an overview of methods used to estimate RPS compliance costs and benefits, based on available data and estimates issued by utilities and regulators. Over the 2010-2012 period, average incremental RPS compliance costs in the United States were equivalent to 0.8% of retail electricity rates, although substantial variation exists around this average, both from year-to-year and across states. The methods used by utilities and regulators to estimate incremental compliance costs vary considerably from state to state and a number of states are currently engaged in processes to refine and standardize their approaches to RPS cost calculation. The report finds that state assessments of RPS benefits have most commonly attempted to quantitatively assess avoided emissions and human health benefits, economic development impacts, and wholesale electricity price savings. Compared to the summary of RPS costs, the summary of RPS benefits is more limited, as relatively few states have undertaken detailed benefits estimates, and then only for a few types of potential policy impacts. In some cases, the same impacts may be captured in the assessment of incremental costs. For these reasons, and because methodologies and level of rigor vary widely, direct comparisons between the estimates of benefits and costs are challenging.

  17. An analysis of Renewable Portfolio Standard policy formulation and its influence on state level energy prices

    Science.gov (United States)

    McCollester, Peter Colin

    Over the past two decades, environmental concern has crept to the forefront of the world policy agenda. This concern has manifested itself differently throughout the world. In the United States, this has come in the form of Renewable Portfolio Standards (RPS) which have become one of the primary policy tools which states use to encourage renewable energy generation. The advent of RPS has spurred intense debate at a federal and state level, centering on the economic merits of promoting renewable energy generation. Detractors argue that RPS will raise electricity rates, since generation from renewable sources is typically costlier than energy generated from fossil fuels. At this point, evidence to the relationship between RPS on electricity prices remains unclear. Researchers have attempted to understand this relationship through a variety of means. The most common being regression based models, which utilize readily available United States Energy Information Agency (US EIA) data, and have uncovered a number of important independent variables which are incorporated into the model in this study. Examples include personal income, state population, and deregulation of an energy market. In addition to empirical studies, the National Renewable Energy Laboratory (NREL) has created complex mathematical models which generate scenario projections based on a number of assumptions. While interesting, these are forward looking tools and as such have not yielded a tremendous amount of insight into the underlying policy mechanics of RPS. A challenge of addressing this topic which is worth noting is that much of the research available which analyzes the merits of RPS caters to distinct political or private sector agendas. The research gathered for this study is comprehensive, and attempts to avoid studies with any clear political, ideological, or financial motivation. Using the insights from previous researchers this study develops a rigorous fixed effects regression model to

  18. Relationship of Solar Energy Installation Permits to Renewable Portfolio Standards and Insolation

    Science.gov (United States)

    Butler, Kirt Gordon

    Legislated renewable portfolio standards (RPSs) may not be the key to ensure forecast energy demands are met. States without a legislated RPS and with efficient permitting procedures were found to have approved and issued 28.57% more permits on average than those with a legislated RPS. Assessment models to make informed decisions about the need and effect of legislated RPSs do not exist. Decision makers and policy creators need to use empirical data and a viable model to resolve the debate over a nationally legislated RPS. The purpose of this cross-sectional study was to determine if relationships between the independent variables of RPS and insolation levels and the dependent variable of the percentage of permits approved would prove to be a viable model. The research population was 68 cities in the United States, of which 55 were used in this study. The return on investment economic decision model provided the theoretical framework for this study and the model generated. The output of multiple regression analysis indicated a weak to medium positive relationship among the variables. None of these relationships were statistically significant at the 0.05 level. A model using site specific data might yield significant results and be useful for determining which solar energy projects to pursue and where to implement them without Federal or State mandated RPSs. A viable model would bring about efficiency gains in the permitting process and effectiveness gains in promoting installations of solar energy-based systems. Research leading to the development of a viable model would benefit society by encouraging the development of sustainable energy sources and helping to meet forecast energy demands.

  19. Beyond Renewable Portfolio Standards: An Assessment of Regional Supply and Demand Conditions Affecting the Future of Renewable Energy in the West; Report and Executive Summary

    Energy Technology Data Exchange (ETDEWEB)

    Hurlbut, D. J.; McLaren, J.; Gelman, R.

    2013-08-01

    This study assesses the outlook for utility-scale renewable energy development in the West once states have met their renewable portfolio standard (RPS) requirements. In the West, the last state RPS culminates in 2025, so the analysis uses 2025 as a transition point on the timeline of RE development. Most western states appear to be on track to meet their final requirements, relying primarily on renewable resources located relatively close to the customers being served. What happens next depends on several factors including trends in the supply and price of natural gas, greenhouse gas and other environmental regulations, consumer preferences, technological breakthroughs, and future public policies and regulations. Changes in any one of these factors could make future renewable energy options more or less attractive.

  20. An analysis of the impact of Renewable Portfolio Standards on residential electricity prices

    Science.gov (United States)

    Larson, Andrew James

    A Renewable Portfolio Standard (RPS) has become a popular policy for states seeking to increase the amount of renewable energy generated for consumers of electricity. The success of these state programs has prompted debate about the viability of a national RPS. The impact that these state level policies have had on the price consumers pay for electricity is the subject of some debate. Several federal organizations have conducted studies of the impact that a national RPS would have on electricity prices paid by consumers. NREL and US EIA utilize models that analyze the inputs in electricity generation to examine the future price impact of changes to electricity generation and show marginal increases in prices paid by end users. Other empirical research has produced similar results, showing that the existence of an RPS increases the price of electricity. These studies miss important aspects of RPS policies that may change how we view these price increases from RPS policies. By examining the previous empirical research on RPS policies, this study seeks to identify the controls necessary to build an effective model. These controls are utilized in a fixed effects model that seeks to show how the controls and variables of interest impact electricity prices paid by residential consumers of electricity. This study utilizes a panel data set from 1990 to 2014 to analyze the impact of these policies controlling for generating capacity, the regulatory status of utilities in each state, demographic characteristics of the states, and fuel prices. The results of the regressions indicate that prices are likely to be higher in states that have an RPS compared to states that do not have such a policy. Several of the characteristics mentioned above have price impacts, and so discussing RPS policies in the context of other factors that contribute to electricity prices is essential. In particular, the regulatory status of utilities in each state is an important determinate of price as

  1. An evaluation of the impact of state Renewable Portfolio Standards (RPS) on retail, commercial, and industrial electricity prices

    Science.gov (United States)

    Puram, Rakesh

    The Renewable Portfolio Standard (RPS) has become a popular mechanism for states to promote renewable energy and its popularity has spurred a potential bill within Congress for a nationwide Federal RPS. While RPS benefits have been touted by several groups, it also has detractors. Among the concerns is that RPS standards could raise electricity rates, given that renewable energy is costlier than traditional fossil fuels. The evidence on the impact of RPS on electricity prices is murky at best: Complex models by NREL and USEIA utilize computer programs with several assumptions which make empirical studies difficult and only predict slight increases in electricity rates associated with RPS standards. Recent theoretical models and empirical studies have found price increases, but often fail to comprehensively include several sets of variables, which in fact could confound results. Utilizing a combination of past papers and studies to triangulate variables this study aims to develop both a rigorous fixed effects regression model as well as a theoretical framework to explain the results. This study analyzes state level panel data from 2002 to 2008 to analyze the effect of RPS on residential, commercial, and industrial electricity prices, controlling for several factors including amount of electricity generation from renewable and non-renewable sources, customer incentives for renewable energy, macroeconomic and demographic indicators, and fuel price mix. The study contrasts several regressions to illustrate important relationships and how inclusions as well as exclusion of various variables have an effect on electricity rates. Regression results indicate that the presence of RPS within a state increases the commercial and residential electricity rates, but have no discernable effect on the industrial electricity rate. Although RPS tends to increase electricity prices, the effect has a small impact on higher electricity prices. The models also indicate that jointly all

  2. Estimating the Value of Utility-Scale Solar Technologies in California Under a 40% Renewable Portfolio Standard (Report Summary) (Presentation)

    Energy Technology Data Exchange (ETDEWEB)

    Jorgenson, J.; Denholm, P.; Mehos, M.

    2014-06-01

    Concentrating solar power with thermal energy storage (CSP-TES) is a unique source of solar energy in that its output can be shifted over time. The ability of CSP-TES to be a flexible source of generation may be particularly valuable in regions with high overall penetration of solar energy, such as the state of California. California's Renewable Portfolio Standard (RPS) requires the state to increase generation from eligible renewable energy resources to reach 33% of retail electricity sales by 2020. Beyond 2020, California targets a further reduction in greenhouse gas emissions. To help reach this goal, current California governor Jerry Brown has stated that a higher 40% RPS might be reachable in the near term. The levelized cost of energy is generally emphasized when assessing the economic viability of renewable energy systems implemented to achieve the RPS. However, the operational and capacity benefits of such systems are often ignored, which can lead to incorrect economic comparisons between CSP-TES and variable renewable generation technologies such as solar photovoltaics (PV). Here we evaluate a 40% RPS scenario in a California grid model with PV or CSP-TES providing the last 1% of RPS energy. We compare the technical and economic implications of integrating either solar technology under several sensitivities, finding that the ability to displace new conventional thermal generation capacity may be the largest source of value of CSP-TES compared to PV at high solar penetrations.

  3. Estimating the Value of Utility-Scale Solar Technologies in California Under a 40% Renewable Portfolio Standard

    Energy Technology Data Exchange (ETDEWEB)

    Jorgenson, J.; Denholm, P.; Mehos, M.

    2014-05-01

    Concentrating solar power with thermal energy storage (CSP-TES) is a unique source of solar energy in that its output can be shifted over time. The ability of CSP-TES to be a flexible source of generation may be particularly valuable in regions with high overall penetration of solar energy, such as the state of California. California's Renewable Portfolio Standard (RPS) requires the state to increase generation from eligible renewable energy resources to reach 33% of retail electricity sales by 2020. Beyond 2020, California targets a further reduction in greenhouse gas emissions. To help reach this goal, current California governor Jerry Brown has stated that a higher 40% RPS might be reachable in the near term. The levelized cost of energy is generally emphasized when assessing the economic viability of renewable energy systems implemented to achieve the RPS. However, the operational and capacity benefits of such systems are often ignored, which can lead to incorrect economic comparisons between CSP-TES and variable renewable generation technologies such as solar photovoltaics (PV). Here we evaluate a 40% RPS scenario in a California grid model with PV or CSP-TES providing the last 1% of RPS energy. We compare the technical and economic implications of integrating either solar technology under several sensitivities, finding that the ability to displace new conventional thermal generation capacity may be the largest source of value of CSP-TES compared to PV at high solar penetrations.

  4. The Development of the Renewable Energy Power Industry under Feed-In Tariff and Renewable Portfolio Standard: A Case Study of China’s Photovoltaic Power Industry

    Directory of Open Access Journals (Sweden)

    Yuzhuo Zhang

    2017-03-01

    Full Text Available Among the regulatory policies, feed-in tariffs (FIT and renewable portfolio standards (RPS are the most popular to promote the development of renewable energy power industry. They can significantly contribute to the expansion of domestic industrial activities in terms of sustainable energy. In this paper, we synthetically consider various important factors with the analysis of the existing literature, and use system dynamics (SD to establish models of long-term development of the renewable energy power industry under FIT and RPS schemes. The model not only clearly shows the complex logical relationship between the factors but also reveals the process of coordination between the two policy tools in the development of the renewable energy power industry. In addition, as an example of development of renewable energy industry, the paper studies the development of China’s photovoltaic power industry under different scenarios. The models proposed in this paper can provide a reference for scholars to study development of the renewable energy power industry in different countries, thereby facilitating an understanding of the renewable energy power’s long-term sustainable development pattern under FIT and RPS schemes, and helping to provide references for policy-making institutions. The results show that in the perfect competitive market, the implementation of RPS can promote long-term and rapid development of China’s photovoltaic power industry given the constraints and actions of the mechanisms of RPS quota proportion, the TGC valid period, and fines, compared with FIT. At the end of the paper, policy implications are offered as references for the government.

  5. Weighing the Costs and Benefits of Renewables Portfolio Standards:A Comparative Analysis of State-Level Policy Impact Projections

    Energy Technology Data Exchange (ETDEWEB)

    Chen, Cliff; Wiser, Ryan; Bolinger, Mark

    2007-01-16

    State renewables portfolio standards (RPS) have emerged as one of the most important policy drivers of renewable energy capacity expansion in the U.S. Collectively, these policies now apply to roughly 40% of U.S. electricity load, and may have substantial impacts on electricity markets, ratepayers, and local economies. As RPS policies have been proposed or adopted in an increasing number of states, a growing number of studies have attempted to quantify the potential impacts of these policies, focusing primarily on projecting cost impacts, but sometimes also estimating macroeconomic and environmental effects. This report synthesizes and analyzes the results and methodologies of 28 distinct state or utility-level RPS cost impact analyses completed since 1998. Together, these studies model proposed or adopted RPS policies in 18 different states. We highlight the key findings of these studies on the costs and benefits of RPS policies, examine the sensitivity of projected costs to model assumptions, assess the attributes of different modeling approaches, and suggest possible areas of improvement for future RPS analysis.

  6. Did state renewable portfolio standards induce technical change in methane mitigation in the U.S. landfill sector?

    Science.gov (United States)

    Delhotal, Katherine Casey

    Landfill gas (LFG) projects use the gas created from decomposing waste, which is approximately 49% methane, and substitute it for natural gas in engines, boilers, turbines, and other technologies to produce energy or heat. The projects are beneficial in terms of increased safety at the landfill, production of a cost-effective source of energy or heat, reduced odor, reduced air pollution emissions, and reduced greenhouse gas emissions. However, landfills sometimes face conflicting policy incentives. The theory of technical change shows that the diffusion of a technology or groups of technologies increases slowly in the beginning and then picks up speed as knowledge and better understanding of using the technology diffuses among potential users. Using duration analysis, data on energy prices, State and Federal policies related to landfill gas, renewable energy, and air pollution, as well as control data on landfill characteristics, I estimate the influence and direction of influence of renewable portfolio standards (RPS). The analysis found that RPS positively influences the diffusion of landfill gas technologies, encouraging landfills to consider electricity generation projects over direct sales of LFG to another facility. Energy price increases or increased revenues for a project are also critical. Barriers to diffusion include air emission permits in non-attainment areas and policies, such as net metering, which promote other renewables over LFG projects. Using the estimates from the diffusion equations, I analyze the potential influence of a Federal RPS as well as the potential interaction with a Federal, market based climate change policy, which will increase the revenue of a project through higher energy sale prices. My analysis shows that a market based climate change policy such as a cap-and-trade or carbon tax scheme would increase the number of landfill gas projects significantly more than a Federal RPS.

  7. Summary of Recommendations: Legislative and Regulatory Actions to Consider for Ensuring the Long-Term Effectiveness of the Nevada Renewable Portfolio Standard

    Energy Technology Data Exchange (ETDEWEB)

    Porter, Kevin; Grace, Robert; Wiser, Ryan

    2004-10-29

    In 2001, the Nevada Legislature passed an aggressive renewable portfolio standard (Nevada RPS) that called for 5% of each major utility's resource mix to come from eligible renewable energy by 2003, rising by 2% every two years to 15% by 2013. Of the RPS standard, 5% per year must come from solar energy. The early performance of the Nevada RPS is generally considered to be disappointing. So far, only a small quantity of electricity state wide has been generated by new renewable energy systems. The utilities and many other stakeholders appear to agree that the utilities, which were unable to fully comply with the RPS in 2003, will continue to have difficulty complying in 2004 and 2005, and perhaps beyond. To date, there have been several efforts to improve compliance with the RPS (such as California and New Mexico). Other states in the region are also motivated to develop their renewable resources, and some have adopted RPS policies. A workshop as held on November 4, 2004 in Reno in order to address additional measures available to strengthen the Nevada RPS, and to consider the implications and potential interaction with RPS policies in nearby states. The purpose of this report is to identify and summarize the top policy priorities, from among those identified and discussed at the November 4, 2004 Reno Workshop, to be considered by the Nevada Renewable Energy and Energy Efficiency Task Force for implementation.

  8. When renewable portfolio standards meet cap-and-trade regulations in the electricity sector: Market interactions, profits implications, and policy redundancy

    Energy Technology Data Exchange (ETDEWEB)

    Tsao, C.-C., E-mail: cctsao3@ucmerced.edu [School of engineering, University of California Merced, Merced, CA 95343 (United States); Sierra Nevada Research Institute, University of California Merced, Merced, CA 95343 (United States); Campbell, J.E., E-mail: ecampbell3@ucmerced.edu [School of engineering, University of California Merced, Merced, CA 95343 (United States); Sierra Nevada Research Institute, University of California Merced, Merced, CA 95343 (United States); Chen, Yihsu, E-mail: yihsu.chen@ucmerced.edu [School of engineering, University of California Merced, Merced, CA 95343 (United States); Sierra Nevada Research Institute, University of California Merced, Merced, CA 95343 (United States); School of social sciences, humanities, and art, University of California Merced, Merced, CA 95343 (United States)

    2011-07-15

    Emission trading programs (C and T) and renewable portfolio standards (RPS) are two common tools used by policymakers to control GHG emissions in the energy and other energy-intensive sectors. Little is known, however, as to the policy implications resulting from these concurrent regulations, especially given that their underlying policy goals and regulatory schemes are distinct. This paper applies both an analytical model and a computational model to examine the short-run implications of market interactions and policy redundancy. The analytical model is used to generate contestable hypotheses, while the numerical model is applied to consider more realistic market conditions. We have two central findings. First, lowering the CO{sub 2} C and T cap might penalize renewable units, and increasing the RPS level could sometimes benefit coal and oil and make natural gas units worse off. Second, making one policy more stringent would weaken the market incentive, which the other policy relies upon to attain its intended policy target. - Highlights: > Lowering the CO{sub 2} C and T cap might penalize renewable units, and increasing the RPS level could sometimes benefit coal and oil and make natural gas units worse off. > Making one policy more stringent would weaken the market incentive, which the other policy relies upon to attain its intended policy target. > The market-wise average emissions could increase when increasing RPS requirement.

  9. Portfolio Analysis of Renewable Energy Opportunities: Preprint

    Energy Technology Data Exchange (ETDEWEB)

    Richards, Allison; Deprizio, Jodi; Anderson, Kate; DiOrio, Nick; Elgqvist, Emma; Simpkins, Travis

    2016-11-01

    Time Warner Cable (TWC), now Charter Communications (CC), partnered with the National Renewable Energy Laboratory (NREL) to assess the technical and economic potential for solar photovoltaic (PV), wind, and ground-source heat-pump systems at 696 TWC facilities. NREL identified 306 sites where adding a renewable energy system would provide cost savings over the project life-cycle. In general, the top sites have some combination of high electricity rates ($0.16-$0.29/kWh), significant state incentives, and favorable net-metering policies. If all projects were implemented via third-party power purchase agreements, TWC/CC would save $37 million over 25 years and meet 10.5% of their energy consumption with renewable energy. This paper describes the portfolio screening methodology used to identify and prioritize renewable energy opportunities across the TWC sites, as well as a summary of the potential cost savings that may be realized by implementing these projects. This may provide a template for other companies interested in identifying and prioritizing renewable energy opportunities across a large number of geographically dispersed sites. Following this initial portfolio analysis, NREL will be conducting in-depth analysis of project development opportunities at ten sites and evaluating off-grid solutions that may enable carbon emission reduction and grid independence at select facilities.

  10. The policy effects of feed-in tariff and renewable portfolio standard: A case study of China's waste incineration power industry.

    Science.gov (United States)

    Xin-Gang, Zhao; Yu-Zhuo, Zhang; Ling-Zhi, Ren; Yi, Zuo; Zhi-Gong, Wu

    2017-06-15

    Among the regulatory policies, feed-in tariffs (FIT) and renewable portfolio standards (RPS) are the most popular to promote the development of renewable energy power industry. They can significantly contribute to the expansion of domestic industrial activities in terms of sustainable energy. This paper uses system dynamics (SD) to establish models of long-term development of China's waste incineration power industry under FIT and RPS schemes, and provides a case study by using scenario analysis method. The model, on the one hand, not only clearly shows the complex logical relationship between the factors but also assesses policy effects of the two policy tools in the development of the industry. On the other hand, it provides a reference for scholars to study similar problems in different countries, thereby facilitating an understanding of waste incineration power's long-term sustainable development pattern under FIT and RPS schemes, and helping to provide references for policy-making institutions. The results show that in the perfect competitive market, the implementation of RPS can promote long-term and rapid development of China's waste incineration power industry given the constraints and actions of the mechanisms of RPS quota proportion, the TGC valid period, and fines, compared with FIT. At the end of the paper, policy implications are offered as references for the government. Copyright © 2017. Published by Elsevier Ltd.

  11. Weighing the Costs and Benefits of State Renewables Portfolio Standards in the United States: A Comparative Analysis of State-Level Policy Impact Projections

    Energy Technology Data Exchange (ETDEWEB)

    Chen, Cliff; Wiser, Ryan; Mills, Andrew; Bolinger, Mark

    2008-01-07

    State renewables portfolio standards (RPS) have emerged as one of the most important policy drivers of renewable energy capacity expansion in the U.S. As RPS policies have been proposed or adopted in an increasing number of states, a growing number of studies have attempted to quantify the potential impacts of these policies, focusing primarily on cost impacts, but sometimes also estimating macroeconomic, risk reduction, and environmental effects. This article synthesizes and analyzes the results and methodologies of 31 distinct state or utility-level RPS cost-impact analyses completed since 1998. Together, these studies model proposed or adopted RPS policies in 20 different states. We highlight the key findings of these studies on the projected costs of state RPS policies, examine the sensitivity of projected costs to model assumptions, evaluate the reasonableness of key input assumptions, and suggest possible areas of improvement for future RPS analyses. We conclude that while there is considerable uncertainty in the study results, the majority of the studies project modest cost impacts. Seventy percent of the state RPS cost studies project retail electricity rate increases of no greater than one percent. Nonetheless, there is considerable room for improving the analytic methods, and therefore accuracy, of these estimates.

  12. The Development of the Renewable Energy Power Industry under Feed-In Tariff and Renewable Portfolio Standard: A Case Study of China’s Photovoltaic Power Industry

    National Research Council Canada - National Science Library

    Yuzhuo Zhang; Xingang Zhao; Yi Zuo; Lingzhi Ren; Ling Wang

    2017-01-01

    ...) are the most popular to promote the development of renewable energy power industry. They can significantly contribute to the expansion of domestic industrial activities in terms of sustainable energy...

  13. State Clean Energy Practices: Renewable Fuel Standards

    Energy Technology Data Exchange (ETDEWEB)

    Mosey, G.; Kreycik, C.

    2008-07-01

    The State Clean Energy Policies Analysis (SCEPA) project is supported by the Weatherization and Intergovernmental Program within the Department of Energy's Office of Energy Efficiency and Renewable Energy. This project seeks to quantify the impacts of existing state policies, and to identify crucial policy attributes and their potential applicability to other states. The goal is to assist states in determining which clean energy policies or policy portfolios will best accomplish their environmental, economic, and security goals. For example, renewable fuel standards (RFS) policies are a mechanism for developing a market for renewable fuels in the transportation sector. This flexible market-based policy, when properly executed, can correct for market failures and promote growth of the renewable fuels industry better than a more command-oriented approach. The policy attempts to correct market failures such as embedded fossil fuel infrastructure and culture, risk associated with developing renewable fuels, consumer information gaps, and lack of quantification of the non-economic costs and benefits of both renewable and fossil-based fuels. This report focuses on renewable fuel standards policies, which are being analyzed as part of this project.

  14. Windfall profit in portfolio diversification? An empirical analysis of the potential benefits of renewable energy investments

    Energy Technology Data Exchange (ETDEWEB)

    Bruns, Frederik

    2013-05-01

    Modern Portfolio Theory is a theory which was introduced by Markowitz, and which suggests the building of a portfolio with assets that have low or, in the best case, negative correlation. In times of financial crises, however, the positive diversification effect of a portfolio can fail when Traditional Assets are highly correlated. Therefore, many investors search for Alternative Asset classes, such as Renewable Energies, that tend to perform independently from capital market performance. 'Windfall Profit in Portfolio Diversification?' discusses the potential role of Renewable Energy investments in an institutional investor's portfolio by applying the main concepts from Modern Portfolio Theory. Thereby, the empirical analysis uses a unique data set from one of the largest institutional investors in the field of Renewable Energies, including several wind and solar parks. The study received the Science Award 2012 of the German Alternative Investments Association ('Bundesverband Alternative Investments e.V.').

  15. 发达国家可再生能源配额制实施对我国的启示%Revelation of implementation of renewable portfolio standard in developed countries to China

    Institute of Scientific and Technical Information of China (English)

    崔珈郡; 韩丽红

    2014-01-01

    可再生能源配额制的实施不仅有利于推动经济发展,而且能够起到保护环境的作用。它已经在一些发达国家中取得了良好的效果,我国也在积极研究实施。通过对美国、澳大利亚、日本及英国等发达国家实施配额制的研究,总结发达国家的经验,探讨其在可再生能源配额制设计、明确各机构职责、深入研究证书交易机制运行、完善相关配套机制等方面对我国的启示,旨在为我国制定可再生能源配额制政策提供参考。%The implementation of renewable portfolio standard ( RPS ) not only benefits the promotion of economic development, but also exerts the function of protecting environment. It has acquired good effects in some developed countries, and is also being researched for implementation positively in China. Through the researches on implementation of RPS in the USA, Australia, Japan and England, etc., the experiences of developed countries are summarized; the revelations to China are discussed on aspects of the design of RPS, the explicitness of responsibility of each agency, the deep studies on operation of certificate transaction mechanism, and the perfection of related complementary mechanism, in order to provide reference for the policy making of RPS in China.

  16. Renewable Portfolio Standards: Costs and Benefits (Poster)

    Energy Technology Data Exchange (ETDEWEB)

    Bird, L.; Heeter, J.; Barbose, G.; Weaver, S.; Flores, F.; Kuskova-Burns, K.; Wiser, R.

    2014-10-01

    This report summarizes state-level RPS costs to date, and considers how those costs may evolve going forward given scheduled increases in RPS targets and cost containment mechanisms. The report also summarizes RPS benefits estimates, based on published studies for individual states and discusses key methodological considerations.

  17. Portfolio Standards and the Promotion of Combined Heat And Power

    Science.gov (United States)

    This paper presents the basic portfolio standard design approaches, identifies key CHP-related issues for policymakers to consider, and provides state-specific information on existing standards allowing for CHP.

  18. Optimal portfolio selection between different kinds of Renewable energy sources

    Energy Technology Data Exchange (ETDEWEB)

    Zakerinia, MohammadSaleh; Piltan, Mehdi; Ghaderi, Farid

    2010-09-15

    In this paper, selection of the optimal energy supply system in an industrial unit is taken into consideration. This study takes environmental, economical and social parameters into consideration in modeling along with technical factors. Several alternatives which include renewable energy sources, micro-CHP systems and conventional system has been compared by means of an integrated model of linear programming and three multi-criteria approaches (AHP, TOPSIS and ELECTRE III). New parameters like availability of sources, fuels' price volatility, besides traditional factors are considered in different scenarios. Results show with environmental preferences, renewable sources and micro-CHP are good alternatives for conventional systems.

  19. Calif. ISO gears up for growing renewables portfolio

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2010-11-15

    Operating the grid is going to become more of a challenge as wind and solar generation -- the biggest two contributors with the most hourly and daily variations -- grow over time. Forecasting exactly how much capacity will be available a mere one hour ahead still remains difficult. More renewable generation is not good business for conventional peaking and load-following thermal generation, mostly burning natural gas. Their revenues, depending on the specific scenario considered, may drop by 20 to 40 percent. Something has to be done to sustain these critical players even as their output is not required as much as in the past.

  20. Building a sustainable market for renewables

    Energy Technology Data Exchange (ETDEWEB)

    Rader, N.

    1996-12-31

    Opinions regarding marketing approaches for electricity generation from renewable resources are presented in the paper. The Renewables Portfolio Standard of the California Public Utilities Commission is described. This system is based on renewable energy credits. Other marketing approaches, including surcharges, auctioned renewables credit, green pricing, and green marketing are also assessed. It is concluded that the Renewables Portfolio Standard creates a stable economic environment for the renewable energy industries.

  1. Planning a Target Renewable Portfolio using Atmospheric Modeling and Stochastic Optimization

    Science.gov (United States)

    Hart, E.; Jacobson, M. Z.

    2009-12-01

    A number of organizations have suggested that an 80% reduction in carbon emissions by 2050 is a necessary step to mitigate climate change and that decarbonization of the electricity sector is a crucial component of any strategy to meet this target. Integration of large renewable and intermittent generators poses many new problems in power system planning. In this study, we attempt to determine an optimal portfolio of renewable resources to meet best the fluctuating California load while also meeting an 80% carbon emissions reduction requirement. A stochastic optimization scheme is proposed that is based on a simplified model of the California electricity grid. In this single-busbar power system model, the load is met with generation from wind, solar thermal, photovoltaic, hydroelectric, geothermal, and natural gas plants. Wind speeds and insolation are calculated using GATOR-GCMOM, a global-through-urban climate-weather-air pollution model. Fields were produced for California and Nevada at 21km SN by 14 km WE spatial resolution every 15 minutes for the year 2006. Load data for 2006 were obtained from the California ISO OASIS database. Maximum installed capacities for wind and solar thermal generation were determined using a GIS analysis of potential development sites throughout the state. The stochastic optimization scheme requires that power balance be achieved in a number of meteorological and load scenarios that deviate from the forecasted (or modeled) data. By adjusting the error distributions of the forecasts, the model describes how improvements in wind speed and insolation forecasting may affect the optimal renewable portfolio. Using a simple model, we describe the diversity, size, and sensitivities of a renewable portfolio that is best suited to the resources and needs of California and that contributes significantly to reduction of the state’s carbon emissions.

  2. The Role of Meteorological Forecasting in Quantifying the Carbon Emissions Associated with Highly Intermittent Renewable Portfolios

    Science.gov (United States)

    Hart, E.; Jacobson, M. Z.

    2010-12-01

    A new model is proposed for carbon emissions assessments of systems with very high penetrations of intermittent renewables. Our approach combines a deterministic portfolio planning module with a Monte Carlo simulation of system operation that determines the conventional dispatchable generating capacity required to meet a reliability constraint. Least-cost scheduling optimizations utilize day-ahead wind speed, irradiance, and load forecasts, while real-time dispatch relies on simple statistical models of forecast errors that maintain historical geographical and temporal correlations. The model includes treatments of intermittent generators including wind, centralized solar thermal, and rooftop photovoltaics, as well as conventional generators including natural gas, hydroelectric, and geothermal plants. Results are presented from a model run of the years 2005 and 2006 with wind speed data from the Western Wind Resources Database (WWRD), irradiance data from the 1991-2005 National Solar Radiation Database (NSRDB), hydroelectric discharge data from California Department of Water Resources (DWR), and load data from the California ISO. The resulting portfolio is capable of meeting the California ISO load over the simulation period with an 80% reduction in electric power sector carbon emissions, while also meeting a loss of load expectation of 1 day in 10 years. With this portfolio, over 99% of the annual load can be met with non-carbon-based generation and all of the instantaneous demand can be met with non-carbon-based sources in 97% of the hours in the Monte Carlo simulation. The results suggest that further reductions in carbon emissions may be achieved with emerging technologies that can reliably provide large capacities without necessarily providing positive net annual energy generation. These technologies may include demand response, vehicle-to-grid systems, and large-scale energy storage.

  3. Portfolio

    OpenAIRE

    Luu, Tiffany Diep

    2014-01-01

    This site was created to fulfill graduation requirements for my Master's of Public Administration at Virginia Polytechnic Institute and State University. My e-portfolio is a multi-dimensional collection of the work I have completed over the years as a graduate student. This e-portfolio showcases the deliverables I have created for my courses in public policy, public management, and public service. In addition, you will also find some of the deliverables I have developed and created as a GIS T...

  4. Renewable Electricity Standards: Good Practices and Design Considerations

    Energy Technology Data Exchange (ETDEWEB)

    Cox, Sadie [National Renewable Energy Lab. (NREL), Golden, CO (United States); Esterly, Sean [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2016-01-02

    In widespread use globally, renewable electricity standards (RES) are one of the most widely adopted renewable energy policies and a critical regulatory vehicle to accelerate renewable energy deployment. This policy brief provides an introduction to key RES design elements, lessons from country experience, and support resources to enable more detailed and country-specific RES policy design.

  5. Understanding and Informing the Policy Environment: State-Level Renewable Fuels Standards

    Energy Technology Data Exchange (ETDEWEB)

    Brown, E.; Cory, K.; Arent, D.

    2007-01-01

    Renewable fuels standard (RFS) policies are becoming a popular public policy mechanism for developing the market for renewable fuels in the transportation sector. During the past decade, U.S. states and several countries began implementing these more market-based (less command and control) policies to support increased biofuels production and use. This paper presents an overview of current and proposed U.S. state-level policies, as well as selected electric sector policies and international fuel standard policies. Current U.S. state-level renewable fuel policies list drivers including an improved economy and environment, as well as fuel self-sufficiency. Best practices and experience from an evaluation of renewable portfolio standards (RPS) in the United States and international RFS policies can inform U.S. state-level policy by illustrating the importance of policy flexibility, binding targets, effective cost caps, and tradable permits. Understanding and building on the experiences from these previous policies can improve the policy mechanism and further develop a market for renewable fuels to meet the goals of improved economy, environment, and fuel self-sufficiency.

  6. Study on Planning Standards for Urban Renewal Areas in Shenzhen

    Institute of Scientific and Technical Information of China (English)

    2011-01-01

    The paper starts from the origin and evolution of city planning standards of Shenzhen before analyzing the new demands for the standards by the development of city renewal amid city transition,and establishes a primary framework for the planning standards and requirements.In addition,on the basis of comparing with the formulation of planning standards of Hong Kong,Shanghai,and Changsha,the paper carries out a discussion on the formulation ideas and main contents of the planning standards for the urban renewal areas in Shenzhen.Moreover,the paper also analyzes the standards for renewal objects,scope,mode,functions guidance,development control,and public facilities,all of which are quite heated issues and key elements in the process of formulation and approval of renewal planning,in order to improve the institutional structure of the City Planning Standards and Requirements of Shenzhen and meet the government’s demand in realizing a refined management.

  7. Portfolios for Prior Learning Assessment: Caught between Diversity and Standardization

    Science.gov (United States)

    Sweygers, Annelies; Soetewey, Kim; Meeus, Wil; Struyf, Elke; Pieters, Bert

    2009-01-01

    In recent years, procedures have been established in Flanders for "Prior Learning Assessment" (PLA) outside the formal learning circuit, of which the portfolio is a regular component. In order to maximize the possibilities of acknowledgement of prior learning assessment, the Flemish government is looking for a set of common criteria and…

  8. Renewable Fuel Standard (RFS2): Final Rule Additional Resources

    Science.gov (United States)

    The final rule of fuels and fuel additives: renewable fuel standard program is published on March 26, 2010 and is effective on July 1, 2010. You will find the links to this final rule and technical amendments supporting this rule.

  9. Renewable Fuel Standard Program (RFS1): Final Rule Additional Resources

    Science.gov (United States)

    The final rule of fuels and fuel additives: renewable fuel standard program is published on May 1, 2007 and is effective on September 1, 2007. You will find the links to this final rule and technical amendments supporting this rule.

  10. Does a renewable fuel standard for biofuels reduce climate costs?

    Energy Technology Data Exchange (ETDEWEB)

    Greaker, Mads; Hoel, Michael; Rosendahl, Knut Einar

    2012-07-01

    Recent contributions have questioned whether biofuels policies actually lead to emissions reductions, and thus lower climate costs. In this paper we make two contributions to the literature. First, we study the market effects of a renewable fuel standard. Opposed to most previous studies we model the supply of fossil fuels taking into account that fossil fuels is a non-renewable resource. Second, we model emissions from land use change explicitly when we evaluate the climate effects of the renewable fuel standard. We find that extraction of fossil fuels most likely will decline initially as a consequence of the standard. Thus, if emissions from biofuels are sufficiently low, the standard will have beneficial climate effects. Furthermore, we find that the standard tends to reduce total fuel (i.e., oil plus biofuels) consumption initially. Hence, even if emissions from biofuels are substantial, climate costs may be reduced. Finally, if only a subset of countries introduce a renewable fuel standard, there will be carbon leakage to the rest of the world. However, climate costs may decline as global extraction of fossil fuels is postponed.(Author)

  11. Changing the renewable fuel standard to a renewable material standard: bioethylene case study.

    Science.gov (United States)

    Posen, I Daniel; Griffin, W Michael; Matthews, H Scott; Azevedo, Inês L

    2015-01-01

    The narrow scope of the U.S. renewable fuel standard (RFS2) is a missed opportunity to spur a wider range of biomass use. This is especially relevant as RFS2 targets are being missed due to demand-side limitations for ethanol consumption. This paper examines the greenhouse gas (GHG) implications of a more flexible policy based on RFS2, which includes credits for chemical use of bioethanol (to produce bioethylene). A Monte Carlo simulation is employed to estimate the life-cycle GHG emissions of conventional low-density polyethylene (LDPE), made from natural gas derived ethane (mean: 1.8 kg CO2e/kg LDPE). The life-cycle GHG emissions from bioethanol and bio-LDPE are examined for three biomass feedstocks: U.S. corn (mean: 97g CO2e/MJ and 2.6 kg CO2e/kg LDPE), U.S. switchgrass (mean: -18g CO2e/MJ and -2.9 kg CO2e/kg LDPE), and Brazilian sugar cane (mean: 33g CO2e/MJ and -1.3 kg CO2e/kg LDPE); bioproduct and fossil-product emissions are compared. Results suggest that neither corn product (bioethanol or bio-LDPE) can meet regulatory GHG targets, while switchgrass and sugar cane ethanol and bio-LDPE likely do. For U.S. production, bioethanol achieves slightly greater GHG reductions than bio-LDPE. For imported Brazilian products, bio-LDPE achieves greater GHG reductions than bioethanol. An expanded policy that includes bio-LDPE provides added flexibility without compromising GHG targets.

  12. U.S. Renewable Electricity Market

    Science.gov (United States)

    The US green energy market is broken up into two main groups: the mandatory markets including state Renewable Portfolio Standards (RPS) and voluntary markets, also referred to as green power markets.  This page delineates this two markets.

  13. Renewable Energy Resources Portfolio Optimization in the Presence of Demand Response

    Energy Technology Data Exchange (ETDEWEB)

    Behboodi, Sahand; Chassin, David P.; Crawford, Curran; Djilali, Ned

    2016-01-15

    In this paper we introduce a simple cost model of renewable integration and demand response that can be used to determine the optimal mix of generation and demand response resources. The model includes production cost, demand elasticity, uncertainty costs, capacity expansion costs, retirement and mothballing costs, and wind variability impacts to determine the hourly cost and revenue of electricity delivery. The model is tested on the 2024 planning case for British Columbia and we find that cost is minimized with about 31% renewable generation. We also find that demand responsive does not have a significant impact on cost at the hourly level. The results suggest that the optimal level of renewable resource is not sensitive to a carbon tax or demand elasticity, but it is highly sensitive to the renewable resource installation cost.

  14. Electronic Portfolios for Scientists

    OpenAIRE

    Dahn, I.; Christmann, A.

    2007-01-01

    Electronic portfolios (ePortfolios) are electronic versions of paper based portfolios. They are increasingly applied in education. Software for building and maintaining ePortfolios is emerging; open specifications for the exchange of ePortfolios exist. They show the potential to serve as a standard tool for documenting achievements in lifelong learning. In this paper we explore the potential of ePortfolios for scientists.

  15. 75 FR 65614 - Federal Advisory Committee Act; Standards Board Charter Renewal

    Science.gov (United States)

    2010-10-26

    ... COMMISSION Federal Advisory Committee Act; Standards Board Charter Renewal AGENCY: Election Assistance... (EAC) has renewed the charter for the Standards Board for a two-year period through October 18, 2012...-463, as amended, this notice advises interested persons of the renewal of the Standards Board...

  16. Quantifying the Level of Cross-State Renewable Energy Transactions (Presentation)

    Energy Technology Data Exchange (ETDEWEB)

    Heeter, J.; Beiter, P.; Flores, F.; Hurlbut, D.; Liu, C.

    2015-02-01

    This presentation and associated spreadsheet examine the level of cross-state renewable energy transactions. Most state renewable portfolio standard (RPS) policies allow for out-of-state renewable energy or renewable energy certificates to count towards compliance. This analysis focuses on compliance for 2012 and provides stakeholders with an understanding of the extent to which RPSs are being met.

  17. Impacts of compressed air energy storage plant on an electricity market with a large renewable energy portfolio

    OpenAIRE

    Foley, Aoife; Diaz Lobera, Irina

    2013-01-01

    Renewable energy generation is expected to continue to increase globally due to renewable energy targets and obligations to reduce greenhouse gas emissions. Some renewable energy sources are variable power sources, for example wind, wave and solar. Energy storage technologies can manage the issues associated with variable renewable generation and align non-dispatchable renewable energy generation with load demands. Energy storage technologies can play different roles in each of the step of th...

  18. Utah-Based Washakie Renewable Energy, LLC Settles Renewable Fuel Standard Violations

    Science.gov (United States)

    WASHINGTON - The U.S. Environmental Protection Agency (EPA) and the U.S. Department of Justice (DOJ) today announced a settlement with Utah-based Washakie Renewable Energy, LLC, that resolves allegations that the company generated more than 7.2 million inv

  19. 75 FR 76789 - Regulation of Fuels and Fuel Additives: 2011 Renewable Fuel Standards

    Science.gov (United States)

    2010-12-09

    ... qualifying domestic corn ethanol production capacity to meet the balance of the total renewable fuel standard... biomass-based diesels, advanced biofuels, and other conventional renewable fuels such as corn-ethanol... capacity of 250,000 gallons of ethanol per year and uses an enzymatic hydrolysis process to convert...

  20. 75 FR 42237 - Regulation of Fuels and Fuel Additives: 2011 Renewable Fuel Standards

    Science.gov (United States)

    2010-07-20

    ... those producers who use canola oil, grain sorghum, pulpwood, or palm oil to produce renewable fuel. The... canola oil, grain sorghum, pulpwood, or palm oil to produce renewable fuel, and only if EPA determines.... Additionally, EPA is required to set the cellulosic biofuel standard each year based on the volume projected...

  1. International Standards to Develop and Promote Energy Efficiency and Renewable Energy Sources

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    International Standards are a powerful tool for disseminating new technologies and good practices, developing global markets and supporting the harmonization of government policies on energy efficiency and renewable sources on a global scale.

  2. A Retrospective Analysis of the Benefits and Impacts of U.S. Renewable Portfolio Standards

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, Ryan H. [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Barbose, Galen [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Heeter, Jenny [National Renewable Energy Lab. (NREL), Golden, CO (United States); Mai, Trieu [National Renewable Energy Lab. (NREL), Golden, CO (United States); Bird, Lori [National Renewable Energy Lab. (NREL), Golden, CO (United States); Bolinger, Mark [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Carpenter, Alberta [National Renewable Energy Lab. (NREL), Golden, CO (United States); Heath, Garvin [National Renewable Energy Lab. (NREL), Golden, CO (United States); Keyser, David [National Renewable Energy Lab. (NREL), Golden, CO (United States); Macknick, Jordan [National Renewable Energy Lab. (NREL), Golden, CO (United States); Mills, Andrew [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Millstein, Dev [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2017-07-31

    This report, the second in the series, analyzes historical benefits and impacts of all state RPS policies, in aggregate, employing a consistent and well-vetted set of methods and data sets. The analysis focuses on three specific benefits: greenhouse gas emissions, air pollution, and water use. It also analyzes three other impacts: gross job additions, wholesale electricity market price suppression, and natural gas price suppression. These are an important subset, but by no means a comprehensive set, of all possible effects associated with RPS policies. These benefits and impacts are also subject to many uncertainties, which are described and, to the extent possible, quantified within the report.

  3. Policies for international transmission investment: Unlocking North Africa's renewable energy portfolio - for local use and international exchange. Final report

    OpenAIRE

    Neuhoff, Karsten; Winzer, Christian; Sasso, Loredana

    2013-01-01

    The study aims to identify suitable regulatory frameworks and business models for transmission investment to enable international exchange and local use of renewable energy across the EU and MENA regions. The analysis explores how policy frameworks can support the realization of individual transmission lines and their use to support renewable project investment and energy transport in the short-term, e.g. next ten years. The current ten year network development plan of ENTSO-e envisages such ...

  4. Multi-objective regulations on transportation fuels: Comparing renewable fuel mandates and emission standards

    OpenAIRE

    D. Rajagopal; Plevin, R; Hochman, G; Zilberman, D.

    2015-01-01

    © 2015 Elsevier B.V. We compare two types of fuel market regulations - a renewable fuel mandate and a fuel emission standard - that could be employed to simultaneously achieve multiple outcomes such as reduction in fuel prices, fuel imports and greenhouse gas (GHG) emissions. We compare these two types of regulations in a global context taking into account heterogeneity in carbon content of both fossil fuels and renewable fuels. We find that although neither the ethanol mandate nor the emissi...

  5. Performance Assessment and Renewing Teacher Education: The Possibilities of the NBPTS Standards

    Science.gov (United States)

    Galluzzo, Gary R.

    2005-01-01

    simple wedge with its tip made of durable, clear, and appropriate teaching standards forged in the furnace of science and theory widens to bring the materials and processes of art and practice to bear on the work of strengthening and renewing all of teaching by applying the national board's standards and assessment processes. With this model,…

  6. [U.S. renewable fuel standard implementation mechanism and market tracking].

    Science.gov (United States)

    Kang, Liping; Earley, Robert; An, Feng; Zhang, Yu

    2013-03-01

    U.S. Renewable Fuel Standard (RFS) is a mandatory policy for promoting the utilization of biofuels in road transpiration sector in order to reduce the country's dependency on foreign oil and greenhouse gas emissions. U.S. Environmental Protection Agency (EPA) defines the proportion of renewable fuels according to RFS annual target, and requests obligated parties such like fossil fuel refiner, blenders and importer in the U.S. to complete Renewable Volume Obligation (RVO) every year. Obligated parties prove they have achieved their RVO through a renewable fuels certification system, which generates Renewable Identification Numbers (RINs) for every gallon of qualified renewable fuels produced or imported into U.S., RINs is a key for tracking renewable fuel consumption, which in turn is a key for implementing the RFS in the U.S., separated RINs can be freely traded in market and obligated parties could fulfill their RVO through buying RINs from other stakeholders. This briefing paper highlights RFS policy implementing mechanism and marketing tracking, mainly describes importance of RINs, and the method for generating and tracking RINs by both government and fuels industry participants.

  7. Renewable Electricity: How Do You Know You Have It?; NREL (National Renewable Energy Laboratory)

    Energy Technology Data Exchange (ETDEWEB)

    None

    2015-08-01

    When electricity is generated - either from a renewable or non-renewable power plant - the electrons added to the grid are indistinguishable. So, on what basis can a consumer of electricity claim to be using renewables? In the United States, renewable energy certificates (RECs) were developed as states passed renewable portfolio standards (RPSs) and were requiring fuel mix disclosure labels. RECs are also used in the voluntary market, where customers are buying renewables to meet sustainability goals. The concept of RECs is used most widely in the United States, but international markets also have tradable renewable electricity certificates. This fact sheet reviews how to ensure that RECs are not double-counted, roles of electricity regulators, renewable generators and purchasers. It concludes with a discussion of the international use of RECs.

  8. Environmental Standard Review Plan for the review of license renewal applications for nuclear power plants

    Energy Technology Data Exchange (ETDEWEB)

    O' Brien, J.; Kim, T.J.; Reynolds, S.

    1991-08-01

    The Environmental Standard Review Plan for the Review of License Applications for Nuclear Power Plants (ESRP-LR) is to be used by the NRC staff when performing environmental reviews of applications for the renewal of power reactor licenses. The use of the ESRP-LR provides a framework for the staff to determine whether or not environmental issues important to license renewal have been identified and the impacts evaluated and provides acceptance standards to help the reviewers comply with the National Environmental Policy Act.

  9. Quantifying the Level of Cross-State Renewable Energy Transactions

    Energy Technology Data Exchange (ETDEWEB)

    Jenny Heeter, Philipp Beiter, Francisco Flores-Espino, David Hurlbut, Chang Liu

    2015-02-01

    This analysis provides first-ever assessment of the extent to which renewable energy is crossing state borders to be used to meet renewable portfolio standard (RPS) requirements. Two primary methods for data collection are Renewable Energy Certificate (REC) tracking and power flow estimates. Data from regional REC tracking systems, state agencies, and utility compliance reports help understand how cross-state transactions have been used to meet RPS compliance. Data on regional renewable energy flow use generator-specific information primarily sourced from EIA, SNL Energy, and FERC Form 1 filings. The renewable energy examined through this method may or may not have actually been used to meet RPS compliance.

  10. The RenewElec Project: Variable Renewable Energy and the Power System

    Energy Technology Data Exchange (ETDEWEB)

    Apt, Jay

    2014-02-14

    Variable energy resources, such as wind power, now produce about 4% of U.S. electricity. They can play a significantly expanded role if the U.S. adopts a systems approach that considers affordability, security and reliability. Reaching a 20-30% renewable portfolio standard goal is possible, but not without changes in the management and regulation of the power system, including accurately assessing and preparing for the operational effects of renewable generation. The RenewElec project will help the nation make the transition to the use of significant amounts of electric generation from variable and intermittent sources of renewable power.

  11. Portfolio Optimization

    OpenAIRE

    Frajtova-Michalikova, Katarina; Spuchľakova, Erika; Misankova, Maria

    2015-01-01

    In this paper Portfolio Optimization techniques were used to determine the most favorable investment portfolio. In particular, stock indices of three companies, namely Microsoft Corporation, Christian Dior Fashion House and Shevron Corporation were evaluated. Using this data the amounts invested in each asset when a portfolio is chosen on the efficient frontier were calculated. In addition, the Portfolio with minimum variance, tangency portfolio and optimal Markowitz portfolio are presented.

  12. Arbitrage Portfolios

    OpenAIRE

    Rodolfo Apreda

    2001-01-01

    It should be expected from this paper an expansion on some distinctive issues regarding arbitrage portfolios: i) a definition on arbitrage portfolios that enables adjustments to SML and CML environments; ii) sufficient conditions to set up arbitrage portfolios against the SML and CML; iii) feasibility of separation portfolios to carry out arbitrage not only against SML but CML as well; iv) arbitrage of portfolios located in Treynor’s lines by using separation portfolios within a SML environme...

  13. 78 FR 9281 - Regulation of Fuels and Fuel Additives: 2013 Renewable Fuel Standards

    Science.gov (United States)

    2013-02-07

    ... biofuel standard for 2013. Combined with the availability of conventional biofuels such as corn ethanol.... imported 101 million gallons of sugarcane ethanol from Brazil and exported 396 million gallons of corn... conventional renewable fuel including corn-ethanol, combined with advanced biofuel, to satisfy the...

  14. 78 FR 71607 - Notice of Receipt of Petitions for a Waiver of the Renewable Fuel Standard

    Science.gov (United States)

    2013-11-29

    ... renewable fuel standards that would apply in 2014. The American Petroleum Institute (API) and the American... requirements would severely harm the economy or environment of a State, a region, or the United States, or that... opportunity for comment, that implementation of the RFS volume requirement would severely harm the economy...

  15. 78 FR 6357 - Submission for Renewal: New Information Collection, Fingerprint Chart Standard Form 87 (SF 87)

    Science.gov (United States)

    2013-01-30

    ... MANAGEMENT Submission for Renewal: New Information Collection, Fingerprint Chart Standard Form 87 (SF 87... (SF 87). As required by the Paperwork Reduction Act of 1995, (Pub. L. 104-13, 44 U.S.C. chapter 35) as... . SUPPLEMENTARY INFORMATION: The SF 87 is a fingerprint card, which is utilized to conduct a national...

  16. Applying Portfolio Theory to EU Electricity Planning and Policy-Making

    Energy Technology Data Exchange (ETDEWEB)

    Awerbuch, Shimon; Berger, Martin

    2003-02-01

    This study introduces mean-variance portfolio theory and evaluates its potential application to the development of efficient (optimal) European Union (EU-15) generating portfolios that enhance energy security and diversification objectives. The analysis extends to European countries the previous work done by Awerbuch in the US, and applies a significantly more detailed portfolio model that reflects the risk of the relevant generating cost streams: fuel, operation and maintenance and construction period costs. It illustrates the portfolio effects of different generating mixes. The study offers preliminary findings on the effects of including more renewable energy sources in the typical EU portfolio mix and suggests interesting directions for further study. The study arises from the perception that these standard, finance-oriented analyses may offer valuable enhancements to energy planning, and concepts of energy security and diversity. Clearly the combination of better portfolio construction and more accurate pricing should lead to more optimal decisions in the round. This study, therefore, represents an effort to complement traditional approaches and point researchers and planners into new territory. The results generally indicate that the existing and projected EU generating mixes are sub optimal - though slightly - from a risk-return perspective, which implies that feasible portfolios with lower cost and risk exist. These can be developed by adjusting the conventional mix and by including larger shares of wind or similar renewable technologies. The results of the portfolio analysis suggest that fixed cost technologies such as renewables must be a part of any efficient generating portfolio. Our assessment of all technologies is limited to risk and cost measures, although other benefits, including low externality costs and sustainability, are often cited for renewables.

  17. International Standards Development for Marine and Hydrokinetic Renewable Energy - Final Report on Technical Status

    Energy Technology Data Exchange (ETDEWEB)

    Rondorf, Neil E.; Busch, Jason; Kimball, Richard

    2011-10-29

    This report summarizes the progress toward development of International Standards for Marine and Hydrokinetic Renewable Energy, as funded by the U.S. Department of Energy (DOE) under the International Electrotechnical Commission (IEC) Technical Committee 114. The project has three main objectives: 1. Provide funding to support participation of key U.S. industry technical experts in 6 (originally 4) international working groups and/or project teams (the primary standards-making committees) and to attend technical meetings to ensure greater U.S. involvement in the development of these standards. 2. Provide a report to DOE and industry stakeholders summarizing the IEC standards development process for marine and hydrokinetic renewable energy, new international standards and their justifications, and provide standards guidance to industry members. 3. Provide a semi-annual (web-based) newsletter to the marine renewable energy community. The newsletter will educate industry members and stakeholders about the processes, progress, and needs of the US efforts to support the international standards development effort. The newsletter is available at www.TC114.us

  18. Preparedness Portfolios and Portfolio Studios

    Science.gov (United States)

    Turns, Jennifer; Sattler, Brook; Eliot, Matt; Kilgore, Deborah; Mobrand, Kathryn

    2012-01-01

    We live in a time of great enthusiasm for the role that e-Portfolios can play in education and a time of exploration in which educators and researchers are investigating different approaches to using ePortfolios to differentially support educational goals. In this paper, we focus on preparedness portfolios and portfolio studios as two key…

  19. Renewable energy policy design and framing influence public support in the United States

    Science.gov (United States)

    Stokes, Leah C.; Warshaw, Christopher

    2017-08-01

    The United States has often led the world in supporting renewable energy technologies at both the state and federal level. However, since 2011 several states have weakened their renewable energy policies. Public opinion will probably be crucial for determining whether states expand or contract their renewable energy policies in the future. Here we show that a majority of the public in most states supports renewable portfolio standards, which require a portion of the electricity mix to come from renewables. However, policy design and framing can strongly influence public support. Using a survey experiment, we show that effects of renewable portfolio standards bills on residential electricity costs, jobs and pollution, as well as bipartisan elite support, are all important drivers of public support. In many states, these bills' design and framing can push public opinion above or below majority support.

  20. Study plan for critical renewable energy storage technology (CREST)

    Energy Technology Data Exchange (ETDEWEB)

    None, None

    2009-01-18

    Now is the time to plan to integrate significant quantities of distributed renewable energy into the electricity grid. Concerns about climate change, the adoption of state-level renewable portfolio standards and incentives, and accelerated cost reductions are driving steep growth in U.S. renewable energy technologies. The number of distributed solar photovoltaic (PV) installations and wind farms are growing rapidly. The potential for concentrated solar power (CSP) also continues to grow. As renewable energy technologies mature, they can provide a significant share of our nation’s electricity requirements.

  1. Tradable renewable energy credits in California: the struggle with implementation

    Energy Technology Data Exchange (ETDEWEB)

    Hilton, Seth D.; Marriott, Chad T.

    2010-07-15

    On Mar. 11, 2010, the California Public Utilities Commission authorized the use of tradable renewable energy credits to satisfy at least a portion of the obligations imposed by California's Renewables Portfolio Standard. The decision allows California's largest investor-owned utilities and other retail providers to purchase TRECs to meet up to 25 percent of their annual RPS compliance obligations, but implementation has raised a series of questions. (author)

  2. Students' reflections in a portfolio pilot: Highlighting professional issues.

    OpenAIRE

    Haffling, Ann-Christin; Beckman, Anders; Pahlmblad, Annika; Edgren, Gudrun

    2010-01-01

    Background: Portfolios are highlighted as potential assessment tools for professional competence. Although students' self-reflections are considered to be central in the portfolio, the content of reflections in practice-based portfolios is seldom analysed. Aim: To investigate whether students' reflections include sufficient dimensions of professional competence, notwithstanding a standardized portfolio format, and to evaluate students' satisfaction with the portfolio. Methods: Thi...

  3. Predictive Ability from ePortfolios of Student Achievement Associated with Professional Teaching Standards: An Exploratory Case Study

    Science.gov (United States)

    Payne, Phillip; Burrack, Frederick

    2017-01-01

    This exploratory case study, focused on a music teacher preparation program, examined the coursework ePortfolios of pre-service music teachers to determine if any parts of the ePortfolio process predicted teaching effectiveness in the classroom during the student teaching semester. Sixty-five undergraduate pre-service music teachers made up the…

  4. A Mean-Variance Analysis of Self-Financing Portfolios

    OpenAIRE

    Bob Korkie; Harry J. Turtle

    2002-01-01

    This paper develops the analytics and geometry of the investment opportunity set (IOS) and the test statistics for self-financing portfolios. A self-financing portfolio is a set of long and short investments such that the sum of their investment weights, or net investment, is zero. This contrasts with a standard portfolio that has investment weights summing to one. Examples of self-financing portfolios are hedges, overlays, arbitrage portfolios, swaps, and long/short portfolios. A standard po...

  5. Continued professional competence and portfolios.

    Science.gov (United States)

    Byrne, Michelle; Delarose, Teresa; King, Cecil A; Leske, Jane; Sapnas, Kathryn G; Schroeter, Kathryn

    2007-01-01

    It is traditionally assumed that licensure of healthcare professionals means that they are minimally competent. Many nursing specialty organizations offer examinations and other processes for certification, suggesting that certification is associated with continued competency. Can standardized examination for certification and continuing education for recertification ensure continued competency? Continuing education and testing provide a limited picture of an individual's knowledge and/or skill acquisition in a limited area at one point in time. However, portfolios promote critical thinking, self-assessment, and individual accountability. A portfolio is a portable mechanism for evaluating competencies that may otherwise be difficult to assess. This article summarizes some of the literature addressing portfolios, including aspects of portfolio development process, the value of portfolios versus continuing education for competency assessment, evidence associated with portfolio usage, and suggestions for organizing nursing portfolios.

  6. Like Portfolios for Assessment (Middle School).

    Science.gov (United States)

    Katz, Claudia Anne; Johnson-Kuby, Sue Ann

    1996-01-01

    Describes 10 variations on the portfolio for assessment: literacy portfolio, reflection portfolio, "reflection the beauty" portfolio, process portfolio, student portfolio, reading portfolio, featherweight portfolio, showcase portfolio, exit portfolio, and literacy portfolio revisited. Accompanies each one with a "recipe." (SR)

  7. Academics on Non-Standard Contracts in UK Universities: Portfolio Work, Choice and Compulsion

    Science.gov (United States)

    Brown, Donna; Gold, Michael

    2007-01-01

    This paper analyses the profile and motivation of over 1,300 academics employed on part-time, fixed term or temporary contracts at 10 post-1992 UK universities, whom it categorises as "non-standard academics". Based on a questionnaire survey, it investigates their demographic background, including age, gender and ethnic background, as…

  8. Examination of the Regional Supply and Demand Balance for Renewable Electricity in the United States through 2015: Projecting from 2009 through 2015 (Revised)

    Energy Technology Data Exchange (ETDEWEB)

    Bird, L.; Hurlbut, D.; Donohoo, P.; Cory, K.; Kreycik, C.

    2010-06-01

    This report examines the balance between the demand and supply of new renewable electricity in the United States on a regional basis through 2015. It expands on a 2007 NREL study that assessed the supply and demand balance on a national basis. As with the earlier study, this analysis relies on estimates of renewable energy supplies compared to demand for renewable energy generation needed to meet existing state renewable portfolio standard (RPS) policies in 28 states, as well as demand by consumers who voluntarily purchase renewable energy. However, it does not address demand by utilities that may procure cost-effective renewables through an integrated resource planning process or otherwise.

  9. Procurement Options for New Renewable Electricity Supply

    Energy Technology Data Exchange (ETDEWEB)

    Kreycik, C. E.; Couture, T. D.; Cory, K. S.

    2011-12-01

    State renewable portfolio standard (RPS) policies require utilities and load-serving entities (LSEs) to procure renewable energy generation. Utility procurement options may be a function of state policy and regulatory preferences, and in some cases, may be dictated by legislative authority. Utilities and LSEs commonly use competitive solicitations or bilateral contracting to procure renewable energy supply to meet RPS mandates. However, policymakers and regulators in several states are beginning to explore the use of alternatives, namely feed-in tariffs (FITs) and auctions to procure renewable energy supply. This report evaluates four procurement strategies (competitive solicitations, bilateral contracting, FITs, and auctions) against four main criteria: (1) pricing; (2) complexity and efficiency of the procurement process; (3) impacts on developers access to markets; and (4) ability to complement utility decision-making processes. These criteria were chosen because they take into account the perspective of each group of stakeholders: ratepayers, regulators, utilities, investors, and developers.

  10. Are government policies effective in promoting deployment of renewable electricity resources?

    Energy Technology Data Exchange (ETDEWEB)

    Shrimali, Gireesh, E-mail: gireesh_shrimali@isb.edu [Indian School of Business, Hyderabad, AP (India); Kniefel, Joshua [University of Florida, Gainesville, FL (United States)

    2011-09-15

    Using a panel data over 50 US states and years 1991-2007, this paper uses a state fixed-effects model with state-specific time-trends to estimate the effects of state policies on the penetration of various emerging renewable electricity sources, including wind, biomass, geothermal, and solar photovoltaic. Renewable portfolio standards with either capacity or sales requirements have a significant impact on the penetration of all types of renewables-however, this impact is variable depending on the type of renewable source: it is negative for combined renewables, wind, and biomass; and positive for geothermal and solar. Further, clean energy funds and required green power options mostly result in increasing the penetration of all types of renewables. On the other hand, voluntary renewable portfolio standards as well as state green power purchasing programs are found to be ineffective in increasing the penetration of any type of renewable source. Finally, economic variables, such as electricity price, natural gas price, and per capita GDP as well as structural variables, such as league of conservation voters rating and the share of coal-generated electricity are found to be generally insignificant, suggesting the crucial role of policy in increasing the penetration of renewables. - Highlights: > Ascertains the impact of state policies on increasing the renewable capacity. > Renewable portfolio requirements have an (sometimes unexpected) impact. > Clean energy funds and required green power options have a positive impact. > Voluntary renewable standards as well as state green power purchasing requirements are ineffective. > Economics as well as political and structural variables are ineffective.

  11. Teaching Portfolio

    DEFF Research Database (Denmark)

    Pedersen, Christian Fischer

    The present teaching portfolio has been submitted for evaluation in partial fulfillment of the requirements of the teacher training programme for Assistant Professors at Department of Engineering, Aarhus University, Denmark.......The present teaching portfolio has been submitted for evaluation in partial fulfillment of the requirements of the teacher training programme for Assistant Professors at Department of Engineering, Aarhus University, Denmark....

  12. Customer portfolios

    DEFF Research Database (Denmark)

    Clarke, Ann Højbjerg; Freytag, Per Vagn; Zolkiewski, Judith

    2017-01-01

    gives managers a tool to help to cope with the dynamic aspects of the customer portfolio. Recognition of the importance of communication to the process, the development of trust and the role of legitimacy also provides areas that managers can focus upon in their relationship management processes......Purpose The purpose of this paper is to extend the discussion about customer portfolios beyond simple identification of models and how they can be used for balanced resource allocation to a discussion about how portfolios should take into account views from relationship partners and how they should...... that helps improve the understanding of how customer portfolio models can actually be applied from a relational perspective. Findings The key aspects of the conceptual framework relate to how alignment of the relationships in the portfolio is achieved. Critical to this are the interaction spaces...

  13. Parametric Portfolio Policies with Common Volatility Dynamics

    OpenAIRE

    Ergemen, Yunus Emre; Taamouti, Abderrahim

    2015-01-01

    A parametric portfolio policy function is considered that incorporates common stock volatility dynamics to optimally determine portfolio weights. Reducing dimension of the traditional portfolio selection problem significantly, only a number of policy parameters corresponding to first- and second-order characteristics are estimated based on a standard method-of-moments technique. The method, allowing for the calculation of portfolio weight and return statistics, is illustrated with an empirica...

  14. The Interregional Cooperative Portfolio Model for Renewable Energy Considering Risk Preferences%计及风险偏好的区域间可再生能源协同投资组合模型

    Institute of Scientific and Technical Information of China (English)

    徐辉; 辛禾; 鞠立伟; 谭清坤; 刘珂; 谭忠富

    2016-01-01

    随着可再生能源的不断发展和电力市场的改革,中国的可再生能源发电产业处于迅速发展的阶段。可再生能源发电因其低污染、可再生、节能和减排的优势而具有非常大的开发和投资潜力,越来越多的投资机构和个人开始投资建设可再生能源发电项目。本文将投资者的风险偏好纳入考虑,综合运用现代管理理论的投资组合模型,根据各可再生能源的实际发展情况及约束条件,建立计及风险偏好的区域间可再生能源协同投资组合模型。并进行算例分析。此外,通过对比平均调度与节能发电调度模式下上网电量的分配状况,分析投资可再生能源与燃煤发电的经济与社会效益水平。在节能调度模式下可再生能源发电项目的效益将更有保障,在电力系统能满足可再生能源消纳要求的情况下应该增加可再生能源项目的投资。%With the continuous development of renewable energy and the reform of electric power markets ,the renewable energy power generation industry in China is at its rapid development stage .Because of its advantages of low pollution ,renewable ,and en‐ergy‐saving and emission reduction ,renewable energy generation has enormous development and investment potential ,and a growing number of institutions and individuals start investing in renewable energy power projects .Therefore ,based on portfolio model of modern management theory ,this paper takes the investor risk appetite into account ,sets investment share of various resources ,en‐ergy condition ,installs capacity growth and energy demand as constraints ,and builds a power generation portfolio model of multi‐zone and multi‐energy types .And then an analysis of the proposed model is made .Furthermore ,it analyzes economic and social ben‐efits of investing in renewable energy and coal‐fired power by contrasting the on‐grid energy of the average scheduling model and

  15. World Biofuels Production Potential Understanding the Challenges to Meeting the U.S. Renewable Fuel Standard

    Energy Technology Data Exchange (ETDEWEB)

    Sastri, B.; Lee, A.

    2008-09-15

    This study by the U.S. Department of Energy (DOE) estimates the worldwide potential to produce biofuels including biofuels for export. It was undertaken to improve our understanding of the potential for imported biofuels to satisfy the requirements of Title II of the 2007 Energy Independence and Security Act (EISA) in the coming decades. Many other countries biofuels production and policies are expanding as rapidly as ours. Therefore, we modeled a detailed and up-to-date representation of the amount of biofuel feedstocks that are being and can be grown, current and future biofuels production capacity, and other factors relevant to the economic competitiveness of worldwide biofuels production, use, and trade. The Oak Ridge National Laboratory (ORNL) identified and prepared feedstock data for countries that were likely to be significant exporters of biofuels to the U.S. The National Renewable Energy Laboratory (NREL) calculated conversion costs by conducting material flow analyses and technology assessments on biofuels technologies. Brookhaven National Laboratory (BNL) integrated the country specific feedstock estimates and conversion costs into the global Energy Technology Perspectives (ETP) MARKAL (MARKet ALlocation) model. The model uses least-cost optimization to project the future state of the global energy system in five year increments. World biofuels production was assessed over the 2010 to 2030 timeframe using scenarios covering a range U.S. policies (tax credits, tariffs, and regulations), as well as oil prices, feedstock availability, and a global CO{sub 2} price. All scenarios include the full implementation of existing U.S. and selected other countries biofuels policies (Table 4). For the U.S., the most important policy is the EISA Title II Renewable Fuel Standard (RFS). It progressively increases the required volumes of renewable fuel used in motor vehicles (Appendix B). The RFS requires 36 billion (B) gallons (gal) per year of renewable fuels by 2022

  16. DOD Renewable Energy Projects: Improved Guidance Needed for Analyzing and Documenting Costs and Benefits

    Science.gov (United States)

    2016-09-01

    noted that there are multiple ways to help ensure sufficient and reliable energy (i.e., energy security) at installations, including the diversification ... Portfolio Standards. Page 36 GAO-16-487 DOD Renewable Energy Projects Project Contributes to energy production goala Contributes...security benefit because the officials defined energy security broadly to encompass the diversification of fuel sources, among other things. However

  17. 77 FR 70848 - Submission for Renewal: Information Collection 3206-0150; Fingerprint Chart Standard Form 87 (SF 87)

    Science.gov (United States)

    2012-11-27

    ... MANAGEMENT Submission for Renewal: Information Collection 3206-0150; Fingerprint Chart Standard Form 87 (SF... Form 87 (SF 87). As required by the Paperwork Reduction Act of 1995, (Pub. L. 104-13, 44 U.S.C. chapter... DeMarion or sent via electronic mail to FISFormsComments@opm.gov . SUPPLEMENTARY INFORMATION: The...

  18. Portfolio Management

    Science.gov (United States)

    Duncan, Sharon L.

    2011-01-01

    Enterprise Business Information Services Division (EBIS) supports the Laboratory and its functions through the implementation and support of business information systems on behalf of its business community. EBIS Five Strategic Focus Areas: (1) Improve project estimating, planning and delivery capability (2) Improve maintainability and sustainability of EBIS Application Portfolio (3) Leap forward in IT Leadership (4) Comprehensive Talent Management (5) Continuous IT Security Program. Portfolio Management is a strategy in which software applications are managed as assets

  19. Portfolio Management

    Science.gov (United States)

    Duncan, Sharon L.

    2011-01-01

    Enterprise Business Information Services Division (EBIS) supports the Laboratory and its functions through the implementation and support of business information systems on behalf of its business community. EBIS Five Strategic Focus Areas: (1) Improve project estimating, planning and delivery capability (2) Improve maintainability and sustainability of EBIS Application Portfolio (3) Leap forward in IT Leadership (4) Comprehensive Talent Management (5) Continuous IT Security Program. Portfolio Management is a strategy in which software applications are managed as assets

  20. 75 FR 14669 - Regulation of Fuels and Fuel Additives: Changes to Renewable Fuel Standard Program

    Science.gov (United States)

    2010-03-26

    ... that the corn ethanol production co-product, distillers grains and solubles (DGS), is more efficient as... Renewable Fuel 3. Additional Control Cases Considered B. Renewable Fuel Production 1. Corn/Starch Ethanol a... Costs a. Corn Ethanol b. Cellulosic Ethanol i. Feedstock Costs ii. Production Costs for...

  1. 75 FR 26025 - Regulation of Fuels and Fuel Additives: Modifications to Renewable Fuel Standard Program

    Science.gov (United States)

    2010-05-10

    ... Technologies for Renewable Fuel Pathways The final RFS2 rule includes two corn ethanol pathways in Table 1 of..., or renewable fuels such as ethanol and biodiesel. Regulated categories and entities affected by this... products merchant wholesalers. Industry 424710 5171 Petroleum bulk stations and terminals. Industry...

  2. 78 FR 49793 - Regulation of Fuels and Fuel Additives: 2013 Renewable Fuel Standards

    Science.gov (United States)

    2013-08-15

    ... renewable fuel volume of 16.55 bill gal. \\4\\ Non-advanced is composed primarily of corn ethanol, but may.... We believe there will be sufficient volumes of conventional renewable fuel including corn ethanol... specified in the Act. For instance, current corn ethanol production capacity is 14.5 bill gal, compared...

  3. 78 FR 11870 - Proposed Information Collection Request; Comment Request; Renewable Fuels Standard (RFS2) Program

    Science.gov (United States)

    2013-02-20

    ... Fuel Producer Co-products Report RFS0801: RFS2 Renewable Biomass Report RFS0901: RFS2 Production... domestic plantation/forest land owners and foreign biofuel feedstock producers which were not reflected in...

  4. Switching portfolios.

    Science.gov (United States)

    Singer, Y

    1997-08-01

    A constant rebalanced portfolio is an asset allocation algorithm which keeps the same distribution of wealth among a set of assets along a period of time. Recently, there has been work on on-line portfolio selection algorithms which are competitive with the best constant rebalanced portfolio determined in hindsight (Cover, 1991; Helmbold et al., 1996; Cover and Ordentlich, 1996). By their nature, these algorithms employ the assumption that high returns can be achieved using a fixed asset allocation strategy. However, stock markets are far from being stationary and in many cases the wealth achieved by a constant rebalanced portfolio is much smaller than the wealth achieved by an ad hoc investment strategy that adapts to changes in the market. In this paper we present an efficient portfolio selection algorithm that is able to track a changing market. We also describe a simple extension of the algorithm for the case of a general transaction cost, including the transactions cost models recently investigated in (Blum and Kalai, 1997). We provide a simple analysis of the competitiveness of the algorithm and check its performance on real stock data from the New York Stock Exchange accumulated during a 22-year period. On this data, our algorithm outperforms all the algorithms referenced above, with and without transaction costs.

  5. Does a University graduate need a portfolio?

    Directory of Open Access Journals (Sweden)

    Mertins Kseniya

    2017-01-01

    Full Text Available Every year an increasing number of employers get interested in the university graduates, most suitable for the requirements the companies set. However, the standard CVs often do not reveal the potential and peculiarities of formation of graduate competences. The authors suggest using portfolio instead of a CV. The authors analyzed 1797 portfolios of TPU students and offered optimal structure and criteria of portfolio. In addition, the authors provide an example of how the achievements reflected in portfolio can be considered. The conclusion is made about the necessity of the portfolio. The authors determined employer’s role in the formation and evaluation of the portfolio. Moreover, the value of tracking the dynamics of growth of portfolio components is denoted as a new performance evaluation system in higher education.

  6. Financial Impact of Energy Efficiency under a Federal Renewable Electricity Standard: Case Study of a Kansas"super-utility"

    Energy Technology Data Exchange (ETDEWEB)

    Goldman, Charles A.; Cappers, Peter

    2009-12-01

    Local, state and federal policies that jointly promote the generation of electricity from renewable technologies and the pursuit of energy efficiency are expected to help mitigate the detrimental effects of global climate change and foster energy independence. We examine the financial impacts on various stakeholders from alternative compliance strategies with a Combined Efficiency and Renewable Electricity Standard (CERES) using a case study approach for utilities in Kansas. If only supply-side options are considered, our analysis suggests that a Kansas"super-utility" would prefer to build its own renewable energy resources, while ratepayers would favor a procurement strategy that relies on long-term renewable power purchase agreements. Introducing energy efficiency under varying levels as a CERES resource will, under our analysis, reduce ratepayer bills by ~;;$400M to ~;;$1.0B between 2009 and 2028, but commensurately erode shareholder returns by ~;;10 to ~;;100 basis points. If a business model for energy efficiency inclusive of both a lost fixed cost recovery mechanism and a shareholder incentive mechanism is implemented, our results illustrate how shareholder returns can be improved through the pursuit of energy efficiency, by at most ~;;20 basis points if certain conditions apply, while ratepayers continue to save between $10M and ~;;$840M over 20 years.

  7. Meeting the U.S. renewable fuel standard: a comparison of biofuel pathways

    Directory of Open Access Journals (Sweden)

    Marc Y. Menetrez

    2014-12-01

    Full Text Available The production of renewable energy is undergoing rapid development. Ethanol primarily derived from corn and biodiesel made from recycled cooking oil and agricultural grains are established sources of renewable transportation fuel. Cellulosic ethanol production is increasing substantially, but at a rate below expectations. If future renewable fuel projections are to be accomplished, additional sources will be needed. Ideally, these sources should be independent of competing feedstock use such as food grains, and require a minimal footprint. Although the uses of algae seem promising, a number of demonstrations have not been economically successful in today‟s market. This paper identifies efforts being conducted on ethanol and biodiesel production and how algae might contribute to the production of biofuel in the United States. Additionally, the feedstock and land requirements of existing biofuel pathways are compared and discussed.

  8. Physics Portfolios

    Science.gov (United States)

    Whitworth, Brooke A.; Bell, Randy L.

    2013-01-01

    Traditionally, teachers assess students' physics understanding through lab activities, responses to open-ended word problems, and tests. But there is another way to measure student understanding, one in which students apply their learning to the world around them. This article shows how to implement student portfolios, which allow students to…

  9. Electronic Portfolios.

    Science.gov (United States)

    Purves, Alan C.

    1996-01-01

    Outlines three forms of electronic portfolio based on a student's work, a class project about a specific topic, and a class seminar on a broad topic. Discusses logistical problems of management, access, and cross-referencing; technical problems of input, access, and copying; and theoretical issues of the lack of realia, of ownership and copyright,…

  10. Portfolio analysis of power plant technologies. A simulation approach to rebalance fuel mix strategies

    Energy Technology Data Exchange (ETDEWEB)

    Rothe, Sebastian

    2011-07-01

    The liberalization process, tightening environmental standards and the need for replacing aged power plants force European utilities to optimize their future generation mix. Power plants are real assets and as a consequence the power plant park of a utility firm equals a portfolio of different generation assets. This thesis adds to the understanding how to identify an efficient generation portfolio through time by assuming a non-constant feasible set. According to our results a combination of conventional thermal and renewable energies turn out to be efficient in terms of expected value and risks. Therefore, implementing a strategy based on renewable energies which cause less CO2 per MWh generated electricity clearly pays off. Potential readership includes scholars from energy economics and energy finance as well as interested practitioners involved in these areas. (orig.)

  11. 77 FR 1319 - Regulation of Fuels and Fuel Additives: 2012 Renewable Fuel Standards

    Science.gov (United States)

    2012-01-09

    ... process to convert corn cobs into ethanol. In conversations with EPA in July 2011 DDCE indicated that this... fuel or renewable fuels such as ethanol and biodiesel. Potentially regulated categories include: NAICS... organic chemical manufacturing. Industry 424690 5169 Chemical and allied products merchant...

  12. 75 FR 26049 - Regulation of Fuels and Fuel Additives: Modifications to Renewable Fuel Standard Program

    Science.gov (United States)

    2010-05-10

    ... Technologies for Renewable Fuel Pathways The final RFS2 rule includes two corn ethanol pathways in Table 1 of... fuels such as ethanol and biodiesel. Regulated categories and entities affected by this action include... basic organic chemical manufacturers. Industry 424690 5169 Chemical and allied products...

  13. 78 FR 37325 - License Renewal of Nuclear Power Plants; Generic Environmental Impact Statement and Standard...

    Science.gov (United States)

    2013-06-20

    ...: NUREG-1437 and NUREG-1555; issuance. SUMMARY: The U.S. Nuclear Regulatory Commission (NRC) is updating and revising NUREG-1437, ``Generic Environmental Impact Statement for License Renewal of Nuclear... amending certain NRC environmental protection regulations. The NRC has also revised NUREG-1555,...

  14. Renewable Energy

    DEFF Research Database (Denmark)

    Sørensen, Bent Erik

    Bent Sorensen’s Renewable Energy: Physics, Engineering, Environmental Impacts, Economics and Planning, Fifth Edition, continues the tradition by providing a thorough and current overview of the entire renewable energy sphere. Since its first edition, this standard reference source helped put...... renewable energy on the map of scientific agendas. Several renewable energy solutions no longer form just a marginal addition to energy supply, but have become major players, with the promise to become the backbone of an energy system suitable for life in the sustainability lane. This volume is a problem...... structured around three parts in order to assist readers in focusing on the issues that impact them the most for a given project or question. PART I covers the basic scientific principles behind all major renewable energy resources, such as solar, wind, and biomass. PART II provides in-depth information...

  15. Parametric Portfolio Policies with Common Volatility Dynamics

    DEFF Research Database (Denmark)

    Ergemen, Yunus Emre; Taamouti, Abderrahim

    A parametric portfolio policy function is considered that incorporates common stock volatility dynamics to optimally determine portfolio weights. Reducing dimension of the traditional portfolio selection problem significantly, only a number of policy parameters corresponding to first- and second......-order characteristics are estimated based on a standard method-of-moments technique. The method, allowing for the calculation of portfolio weight and return statistics, is illustrated with an empirical application to 30 U.S. industries to study the economic activity before and after the recent financial crisis....

  16. Teacher Portfolios: Pathways to Teacher Empowerment.

    Science.gov (United States)

    Beck, Judy; Weiland, Lynn

    2001-01-01

    Describes three types of teacher portfolios: employment portfolio, learning portfolio, and assessment portfolio. Provides information from the Learning Community program that uses teacher portfolios in teacher education. (ASK)

  17. Developing and Validating a Design for Teacher Portfolio Assessment

    Science.gov (United States)

    van der Schaaf, M. F.; Stokking, K. M.

    2008-01-01

    Developing and using a design for teacher portfolio assessment is a complex process including several components: the domain to be assessed (the teacher competences), the content standards or criteria, the portfolio format, the completion of the format (by teachers) with content, and the scoring of the portfolios (by raters). For a portfolio…

  18. Teacher Beliefs and Teacher Behaviour in Portfolio Assessment

    Science.gov (United States)

    van der Schaaf, Marieke F.; Stokking, Karel M.; Verloop, Nico

    2008-01-01

    This study concerns the relation between teachers' beliefs towards teaching behaviour and their actual teaching behaviour in teacher portfolio assessment. We analysed the beliefs and behaviour of 18 teachers as described in their portfolios. In addition, each portfolio was independently assessed by two trained raters on eight content standards and…

  19. Evaluating, Comparing, and Best Practice in Electronic Portfolio System Use

    Science.gov (United States)

    San Jose, David L.

    2017-01-01

    Electronic portfolios (e-portfolios) are commonly positioned to show evidence of student learning with formative and summative assessment benefits. At the University of Auckland teacher education program, two e-portfolio systems were adopted to document preservice teacher's course work and to attest to the Graduating Teacher Standards. This…

  20. The regional electricity generation mix in Scotland: A portfolio selection approach incorporating marine technologies

    Energy Technology Data Exchange (ETDEWEB)

    Allan, Grant, E-mail: grant.j.allan@strath.ac.u [Fraser of Allander Institute, Department of Economics, University of Strathclyde, Sir William Duncan Building, 130 Rottenrow, Glasgow G4 0GE (United Kingdom); Eromenko, Igor; McGregor, Peter [Fraser of Allander Institute, Department of Economics, University of Strathclyde, Sir William Duncan Building, 130 Rottenrow, Glasgow G4 0GE (United Kingdom); Swales, Kim [Department of Economics, University of Strathclyde, Sir William Duncan Building, 130 Rottenrow, Glasgow G4 0GE (United Kingdom)

    2011-01-15

    Standalone levelised cost assessments of electricity supply options miss an important contribution that renewable and non-fossil fuel technologies can make to the electricity portfolio: that of reducing the variability of electricity costs, and their potentially damaging impact upon economic activity. Portfolio theory applications to the electricity generation mix have shown that renewable technologies, their costs being largely uncorrelated with non-renewable technologies, can offer such benefits. We look at the existing Scottish generation mix and examine drivers of changes out to 2020. We assess recent scenarios for the Scottish generation mix in 2020 against mean-variance efficient portfolios of electricity-generating technologies. Each of the scenarios studied implies a portfolio cost of electricity that is between 22% and 38% higher than the portfolio cost of electricity in 2007. These scenarios prove to be mean-variance 'inefficient' in the sense that, for example, lower variance portfolios can be obtained without increasing portfolio costs, typically by expanding the share of renewables. As part of extensive sensitivity analysis, we find that Wave and Tidal technologies can contribute to lower risk electricity portfolios, while not increasing portfolio cost. - Research Highlights: {yields} Portfolio analysis of scenarios for Scotland's electricity generating mix in 2020. {yields} Reveals potential inefficiencies of selecting mixes based on levelised cost alone. {yields} Portfolio risk-reducing contribution of Wave and Tidal technologies assessed.

  1. The Reality of Assessing "Authentic" Electronic Portfolios: Can Electronic Portfolios Serve as a Form of Standardized Assessment to Measure Literacy and Self-Regulated Learning at the Elementary Level?

    Science.gov (United States)

    Bures, Eva Mary; Barclay, Alexandra; Abrami, Philip C.; Meyer, Elizabeth J.

    2013-01-01

    This study explores electronic portfolios and their potential to assess student literacy and selfregulated learning in elementary-aged children. Assessment tools were developed and include a holistic rubric that assigns a mark from 1 to 5 to self-regulated learning (SRL) and a mark to literacy, and an analytical rubric measuring multiple…

  2. Renewable energy resources

    DEFF Research Database (Denmark)

    Ellabban, Omar S.; Abu-Rub, Haitham A.; Blaabjerg, Frede

    2014-01-01

    Electric energy security is essential, yet the high cost and limited sources of fossil fuels, in addition to the need to reduce greenhouse gasses emission, have made renewable resources attractive in world energy-based economies. The potential for renewable energy resources is enormous because...... they can, in principle, exponentially exceed the world's energy demand; therefore, these types of resources will have a significant share in the future global energy portfolio, much of which is now concentrating on advancing their pool of renewable energy resources. Accordingly, this paper presents how...... renewable energy resources are currently being used, scientific developments to improve their use, their future prospects, and their deployment. Additionally, the paper represents the impact of power electronics and smart grid technologies that can enable the proportionate share of renewable energy...

  3. Financing investments in renewable energy: The role of policy design and restructuring

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, R.; Pickle, S. [Lawrence Berkeley National Lab., CA (United States). Environmental Energy Technologies Div.

    1997-03-01

    The costs of electric power projects utilizing renewable energy technologies are highly sensitive to financing terms. Consequently, as the electricity industry is restructured and new renewables policies are created, it is important for policymakers to consider the impacts of renewables policy design on project financing. This report describes the power plant financing process and provides insights to policymakers on the important nexus between renewables policy design and finance. A cash-flow model is used to estimate the impact of various financing variables on renewable energy costs. Past and current renewable energy policies are then evaluated to demonstrate the influence of policy design on the financing process and on financing costs. The possible impacts of electricity restructuring on power plant financing are discussed and key design issues are identified for three specific renewable energy programs being considered in the restructuring process: (1) surcharge-funded policies; (2) renewables portfolio standards; and (3) green marketing programs. Finally, several policies that are intended to directly reduce financing costs and barriers are analyzed. The authors find that one of the key reasons that renewables policies are not more effective is that project development and financing processes are frequently ignored or misunderstood when designing and implementing renewable energy incentives. A policy that is carefully designed can reduce renewable energy costs dramatically by providing revenue certainty that will, in turn, reduce financing risk premiums.

  4. Essays in renewable energy and emissions trading

    Science.gov (United States)

    Kneifel, Joshua D.

    Environmental issues have become a key political issue over the past forty years and has resulted in the enactment of many different environmental policies. The three essays in this dissertation add to the literature of renewable energy policies and sulfur dioxide emissions trading. The first essay ascertains which state policies are accelerating deployment of non-hydropower renewable electricity generation capacity into a states electric power industry. As would be expected, policies that lead to significant increases in actual renewable capacity in that state either set a Renewables Portfolio Standard with a certain level of required renewable capacity or use Clean Energy Funds to directly fund utility-scale renewable capacity construction. A surprising result is that Required Green Power Options, a policy that merely requires all utilities in a state to offer the option for consumers to purchase renewable energy at a premium rate, has a sizable impact on non-hydro renewable capacity in that state. The second essay studies the theoretical impacts fuel contract constraints have on an electricity generating unit's compliance costs of meeting the emissions compliance restrictions set by Phase I of the Title IV SO2 Emissions Trading Program. Fuel contract constraints restrict a utility's degrees of freedom in coal purchasing options, which can lead to the use of a more expensive compliance option and higher compliance costs. The third essay analytically and empirically shows how fuel contract constraints impact the emissions allowance market and total electric power industry compliance costs. This paper uses generating unit-level simulations to replicate results from previous studies and show that fuel contracts appear to explain a large portion (65%) of the previously unexplained compliance cost simulations. Also, my study considers a more appropriate plant-level decisions for compliance choices by analytically analyzing the plant level decision-making process to

  5. Revisiting modern portfolio theory

    OpenAIRE

    Tenani, Paulo

    2016-01-01

    This paper revisits Modern Portfolio Theory and derives eleven properties of Efficient Allocations and Portfolios in the presence of leverage. With different degrees of leverage, an Efficient Portfolio is a linear combination of two portfolios that lie in different efficient frontiers - which allows for an attractive reinterpretation of the Separation Theorem. In particular a change in the investor risk-return preferences will leave the allocation between the Minimum Risk and Risk Portfolios ...

  6. Who Owns Renewable Energy Certificates?

    Energy Technology Data Exchange (ETDEWEB)

    Holt, Edward; Wiser, Ryan; Bolinger, Mark

    2006-06-01

    Renewable energy certificates (RECs) are tradable instruments that convey the attributes of a renewable energy generator and the right to make certain claims about energy purchases. RECs first appeared in US markets in the late 1990s and are particularly important in states that accept or require them as evidence of compliance with renewables portfolio standards (RPS). The emergence of RECs as a tradable commodity has made utilities, generators, and regulators increasingly aware of the need to specify who owns the RECs in energy transactions. In voluntary transactions, most agree that the question of REC ownership can and should be negotiated privately between the buyer and the seller, and should be clearly established by contract. Claims about purchasing or using renewable energy should only be made if REC ownership can be documented. In many other cases, however, renewable energy transactions are either mandated or encouraged through state or federal policy. Because of the recent appearance of RECs, legislation and regulation mandating the purchase of renewable energy has sometimes been silent on the disposition of the RECs associated with that generation. Furthermore, some renewable energy contracts pre-date the existence of RECs, and therefore do not address REC ownership. In both of these instances, the issue of REC ownership must often be answered by legislative or regulatory authorities. The resulting uncertainty in REC ownership has hindered the development of robust REC markets and has, in some cases, led to contention between buyers and sellers of renewable generation. This article, which is based on a longer Berkeley Lab report, reviews federal and state efforts to clarify the ownership of RECs from Qualifying Facilities (QFs) that sell their generation under the Public Utility Regulatory Policies Act (PURPA) of 1978. The full report also addresses state efforts to clarify REC ownership in two other situations, customer-owned generation that benefits

  7. An Electronic Portfolio for the ACTFL/NCATE Teacher Program Standards in the Second Language Methods Course

    Science.gov (United States)

    Dhonau, Stephanie; McAlpine, Dave

    2005-01-01

    With the publication of the ACTFL/NCATE Program Standards for the Preparation of Foreign Language Teachers in the fall of 2002, teacher preparation programs need to rethink the process of gathering materials that best represent the abilities of the teacher candidates they are training. This article discusses how one foreign language program has…

  8. Note---Naive Diversification and Portfolio Risk---A Note

    OpenAIRE

    Ron Bird; Mark Tippett

    1986-01-01

    A number of authors have used the portfolio standard deviation to model the risk reduction advantages of naive diversification. Other authors have pointed out that when risk is modelled by the portfolio's variance the modelling process becomes much simpler and is computationally more efficient. In this note we derive an exact parametric relationship between portfolio standard deviation and size and thus highlight the dangers of using the standard deviation in conjunction with O.L.S. regressio...

  9. The North American Market For Renewable Energy Certificates, 6. edition

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-10-15

    The report provides a study of the Renewable Energy Certificate (REC) market and takes a comprehensive look at what RECs are, how they work, the role they can play in spurring renewable energy development, the different models for implementing RECs, current offerings of REC suppliers, and customer purchases of RECs. Topics covered include: an overview of green power; definition of what RECs are and how they work; discussion of the history of RECs and their uses; explanation of the benefits of RECs and the challenges they face; discussion of how RECs interact with Renewable Portfolio Standards; discussion of the REC certification process; overview of the current market for RECs in the U.S.; profiles of major North American REC tracking systems; and, profiles of 40 key North American REC market participants.

  10. Role of Energy Storage with Renewable Electricity Generation

    Energy Technology Data Exchange (ETDEWEB)

    Denholm, P.; Ela, E.; Kirby, B.; Milligan, M.

    2010-01-01

    Renewable energy sources, such as wind and solar, have vast potential to reduce dependence on fossil fuels and greenhouse gas emissions in the electric sector. Climate change concerns, state initiatives including renewable portfolio standards, and consumer efforts are resulting in increased deployments of both technologies. Both solar photovoltaics (PV) and wind energy have variable and uncertain (sometimes referred to as intermittent) output, which are unlike the dispatchable sources used for the majority of electricity generation in the United States. The variability of these sources has led to concerns regarding the reliability of an electric grid that derives a large fraction of its energy from these sources as well as the cost of reliably integrating large amounts of variable generation into the electric grid. In this report, we explore the role of energy storage in the electricity grid, focusing on the effects of large-scale deployment of variable renewable sources (primarily wind and solar energy).

  11. Feasibility Study of Biopower in East Helena, Montana. A Study Prepared in Partnership with the Environmental Protection Agency for the RE-Powering America's Land Initiative: Siting Renewable Energy on Potentially Contaminated Land and Mine Sites

    Energy Technology Data Exchange (ETDEWEB)

    Moriarty, K.

    2013-02-01

    The U.S. Environmental Protection Agency (EPA) developed the RE-Powering America's Land initiative to reuse contaminated sites for renewable energy generation when aligned with the community's vision for the site. The former American Smelting and Refining Company (Asarco) smelter in East Helena, Montana, was selected for a feasibility study under the initiative. Biomass was chosen as the renewable energy resource based on the wood products industry in the area. Biopower was selected as the technology based on Montana's renewable portfolio standard (RPS) requiring utilities to purchase renewable power.

  12. 76 FR 25761 - Commercial Driver's License (CDL) Standards; Volvo Trucks North America, Renewal of Exemption

    Science.gov (United States)

    2011-05-05

    ... engineers employed by the company to enable these individuals to continue test-driving commercial motor... TRANSPORTATION Federal Motor Carrier Safety Administration Commercial Driver's License (CDL) Standards; Volvo... from the requirement to hold a commercial driver's license (CDL) sought by Volvo Trucks North America...

  13. 75 FR 45198 - Commercial Driver's License (CDL) Standards; Volvo Trucks North America, Renewal of Exemption

    Science.gov (United States)

    2010-08-02

    ... the company to enable this individual to continue test-driving commercial motor vehicles (CMVs) in the... Federal Motor Carrier Safety Administration Commercial Driver's License (CDL) Standards; Volvo Trucks... requirement to hold a commercial driver's license (CDL) submitted by Volvo Trucks North America (Volvo) on...

  14. Energy Management Challenges and Opportunities with Increased Intermittent Renewable Generation on the California Electrical Grid

    Science.gov (United States)

    Eichman, Joshua David

    Renewable resources including wind, solar, geothermal, biomass, hydroelectric, wave and tidal, represent an opportunity for environmentally preferred generation of electricity that also increases energy security and independence. California is very proactive in encouraging the implementation of renewable energy in part through legislation like Assembly Bill 32 and the development and execution of Renewable Portfolio Standards (RPS); however renewable technologies are not without challenges. All renewable resources have some resource limitations, be that from location, capacity, cost or availability. Technologies like wind and solar are intermittent in nature but represent one of the most abundant resources for generating renewable electricity. If RPS goals are to be achieved high levels of intermittent renewables must be considered. This work explores the effects of high penetration of renewables on a grid system, with respect to resource availability and identifies the key challenges from the perspective of the grid to introducing these resources. The HiGRID tool was developed for this analysis because no other tool could explore grid operation, while maintaining system reliability, with a diverse set of renewable resources and a wide array of complementary technologies including: energy efficiency, demand response, energy storage technologies and electric transportation. This tool resolves the hourly operation of conventional generation resources (nuclear, coal, geothermal, natural gas and hydro). The resulting behavior from introducing additional renewable resources and the lifetime costs for each technology is analyzed.

  15. Optimizing the U.S. Electric System with a High Penetration of Renewables

    Science.gov (United States)

    Corcoran, B. A.; Jacobson, M. Z.

    2013-12-01

    As renewable energy generators are increasingly being installed throughout the U.S., there is growing interest in interconnecting diverse renewable generators (primarily wind and solar) across large geographic areas through an enhanced transmission system. This reduces variability in the aggregate power output, increases system reliability, and allows for the development of the best overall group of renewable technologies and sites to meet the load. Studies are therefore needed to determine the most efficient and economical plan to achieve large area interconnections in a future electric system with a high penetration of renewables. This research quantifies the effects of aggregating electric load together with diverse renewable generation throughout the ten Federal Energy Regulatory Commission (FERC) regions in the contiguous U.S. A deterministic linear program has been built in AMPL (A Mathematical Programming Language) to solve for the least-cost organizational structure and system (generators, transmission, and storage) for a highly renewable electric grid. The analysis will 1) examine a highly renewable 2006 electric system, including various sensitivity cases and additional system components such as additional load from electric vehicles, and 2) create a 'roadmap' from the existing 2006 system to a highly renewable system in 2030, accounting for projected price and demand changes and generator retirements based on age and environmental regulations. Ideally, results from this study will offer insight for a federal renewable energy policy (such as a renewable portfolio standard) and how to best organize U.S. regions for transmission planning.

  16. 12 CFR 208.51 - Real estate lending standards.

    Science.gov (United States)

    2010-01-01

    ... portfolio diversification standards; (ii) Prudent underwriting standards, including loan-to-value limits... portfolio; and (iv) Documentation, approval, and reporting requirements to monitor compliance with the bank...

  17. The reality of assessing ‘authentic’ electronic portfolios: Can electronic portfolios serve as a form of standardized assessment to measure literacy and self-regulated learning at the elementary level? / L’évaluation d’e-portfolio «authentiques»

    Directory of Open Access Journals (Sweden)

    Eva Mary Bures

    2013-11-01

    Full Text Available This study explores electronic portfolios and their potential to assess student literacy and self-regulated learning in elementary-aged children. Assessment tools were developed and include a holistic rubric that assigns a mark from 1 to 5 to self-regulated learning (SRL and a mark to literacy, and an analytical rubric measuring multiple sub-scales of SRL and literacy. Participants in grades 4, 5 and 6 across two years created electronic portfolios, with n=369 volunteers. Some classes were excluded from statistical analyses in the first year due to low implementation and some individuals were excluded in both years, leaving n=251 included in analyses. All portfolios were coded by two coders, and the inter-rater reliability explored. During the first year Cohen’s kappa ranged from 0.70 to 0.79 for literacy and SRL overall, but some sub-scales were unacceptably weak. The second year showed improvement in Cohen’s kappa overall and especially for the sub-scales, reflecting improved implementation of the portfolios and use of the assessment tools. Validity was explored by comparing the relationship of portfolio scores to other measures, including the government scores on the open-response literacy questions for the Canadian Achievement Tests (version 4, the scores we assigned to the CAT-4s using our assessment tools, and scores on the Student Learning Strategies Questionnaire (SLSQ measuring SRL. The portfolio literacy scores correlated (p

  18. On the evolving portfolio of community-standards and data sharing policies: turning challenges into new opportunities

    Directory of Open Access Journals (Sweden)

    Sansone Susanna-Assunta

    2012-07-01

    Full Text Available Abstract There are thousands of biology databases with hundreds of terminologies, reporting guidelines, representations models, and exchange formats to help annotate, report, and share bioscience investigations. It is evident, however, that researchers and bioinformaticians struggle to navigate the various standards and to find the appropriate database to collect, manage, and share data. Further, policy makers, funders, and publishers lack sufficient information to formulate their guidelines. In this paper, we highlight a number of key issues that can be used to turn these challenges into new opportunities. It is time for all stakeholders to work together to reconcile cause and effect and make the data-sharing culture functional and efficient.

  19. On the evolving portfolio of community-standards and data sharing policies: turning challenges into new opportunities.

    Science.gov (United States)

    Sansone, Susanna-Assunta; Rocca-Serra, Philippe

    2012-07-12

    There are thousands of biology databases with hundreds of terminologies, reporting guidelines, representations models, and exchange formats to help annotate, report, and share bioscience investigations. It is evident, however, that researchers and bioinformaticians struggle to navigate the various standards and to find the appropriate database to collect, manage, and share data. Further, policy makers, funders, and publishers lack sufficient information to formulate their guidelines. In this paper, we highlight a number of key issues that can be used to turn these challenges into new opportunities. It is time for all stakeholders to work together to reconcile cause and effect and make the data-sharing culture functional and efficient.

  20. The portfolio theory applied to small hydroelectric power plants; Teoria do portfolio aplicada a pequenas centrais hidreletricas

    Energy Technology Data Exchange (ETDEWEB)

    Bastos, Paulo Roberto Ferreira de Moura

    2002-07-01

    The 'Portfolio Theory' has been largely employed on stock markets, aiming to improve the relation between risk and return. This theory identifies many possible investment combinations once it's associated with the idea that increasing investment diversification can lower risk. The objective is, thus identify the portfolio that offers the most efficient diversification of capital. The reforms on the energy sector in Brazil have made investments on both generation and commercialization of electric energy easier for medium sized investors. There have been economic incentives to the exploration of wind and bio-mass energy, and to the construction of small hydro-electric power plants (in Portuguese, PCH), as well as many legal and regulatory mechanisms pursuing the maintenance of elevate rates of participation of renewable source in the production of electrical energy in Brazil. Between these options, the PCH are a specially good opportunity taking account of its minimum environment impact, low operational costs and total technologic control. The decision concerning investment options has been based on standard economic analysis like 'Net Present Value', 'Payback Time' or 'Cost/Benefit Relations'. Other techniques such as scenario and sensitivity have been incorporated and, more recently, there has been a search for other methods consider the uncertainty of happenings within the horizon of study. This dissertation will analyse six possibilities of PCH with standard techniques. Of them, the four possibilities considered viable will constitute our examples for the application of Portfolio Theory techniques. Once the active portfolio is determined, the best option is identified using the 'mean-variance efficient' developed by Markowitz, concluding that the theory can give better support to the decision-making in future enterprises on the electric sector. After considering the optimal return/risk combinations, there was

  1. Use of Solar and Wind as a Physical Hedge against Price Variability within a Generation Portfolio

    Energy Technology Data Exchange (ETDEWEB)

    Jenkin, T.; Diakov, V.; Drury, E.; Bush, B.; Denholm, P.; Milford, J.; Arent, D.; Margolis, R.; Byrne, R.

    2013-08-01

    This study provides a framework to explore the potential use and incremental value of small- to large-scale penetration of solar and wind technologies as a physical hedge against the risk and uncertainty of electricity cost on multi-year to multi-decade timescales. Earlier studies characterizing the impacts of adding renewable energy (RE) to portfolios of electricity generators often used a levelized cost of energy or simplified net cash flow approach. In this study, we expand on previous work by demonstrating the use of an 8760 hourly production cost model (PLEXOS) to analyze the incremental impact of solar and wind penetration under a wide range of penetration scenarios for a region in the Western U.S. We do not attempt to 'optimize' the portfolio in any of these cases. Rather we consider different RE penetration scenarios, that might for example result from the implementation of a Renewable Portfolio Standard (RPS) to explore the dynamics, risk mitigation characteristics and incremental value that RE might add to the system. We also compare the use of RE to alternative mechanisms, such as the use of financial or physical supply contracts to mitigate risk and uncertainty, including consideration of their effectiveness and availability over a variety of timeframes.

  2. Project Portfolio Management Software

    OpenAIRE

    Paul POCATILU

    2006-01-01

    In order to design a methodology for the development of project portfolio management (PPM) applications, the existing applications have to be studied. This paper describes the main characteristics of the leading project portfolio management software applications.

  3. Project Portfolio Management Software

    Directory of Open Access Journals (Sweden)

    Paul POCATILU

    2006-01-01

    Full Text Available In order to design a methodology for the development of project portfolio management (PPM applications, the existing applications have to be studied. This paper describes the main characteristics of the leading project portfolio management software applications.

  4. POSSIBILISTIC SHARPE RATIO BASED NOVICE PORTFOLIO SELECTION MODELS

    OpenAIRE

    Rupak Bhattacharyya

    2013-01-01

    This paper uses the concept of possibilistic risk aversion to propose a new approach for portfolio selection in fuzzy environment. Using possibility theory, the possibilistic mean, variance, standard deviation and risk premium of a fuzzy number are established. Possibilistic Sharpe ratio is defined as the ratio of possibilistic risk premium and possibilistic standard deviation of a portfolio. The Sharpe ratio is a measure of the performance of the portfolio compared to the risk...

  5. Coastal Navigation Portfolio Management

    Science.gov (United States)

    2015-02-19

    the entire navigation portfolio of projects , both inland and coastal. The Coastal Structures Management , Analysis, and Ranking Tool (CSMART) is a...FEB 2015 2. REPORT TYPE 3. DATES COVERED 00-00-2015 to 00-00-2015 4. TITLE AND SUBTITLE Coastal Navigatoin Portfolio Management 5a. CONTRACT...CIRP.aspx Coastal Inlets Research Program Coastal Navigation Portfolio Management The Coastal Navigatoin Portfolio Management work unit

  6. Well Diversified Efficient Portfolios

    OpenAIRE

    Alejandro Corvalán

    2005-01-01

    Investors scarcely use mean-variance optimization when deciding on their actual portfolios. One of the main reasons they give is that efficient portfolios are systematically concentrated in a few assets. This article shows that such an allocation is achieved when portfolio risk and return are seen as infinitely accurate magnitudes. However, if the frontier is considered within some infinitesimal tolerance, as in a one-hundredth neighborhood, there are thousands of efficient portfolios and, in...

  7. Situating Portfolios: Four Perspectives

    OpenAIRE

    Yancey, Kathleen Blake; Weiser, Irwin

    1997-01-01

    Yancey and Weiser bring together thirty-one writing teachers from diverse levels of instruction, institutional settings, and regions to create a stimulating volume on the current practice in portfolio writing assessment. Contributors reflect on the explosion in portfolio practice over the last decade, why it happened, what comes next; discuss portfolios in hypertext, the web, and other electronic spaces; and consider emerging trends and issues that are involving portfolios in teacher assessme...

  8. Implementing Portfolio Assessment

    Science.gov (United States)

    Harris, Mauree Elizabeth

    2009-01-01

    Portfolio assessment is a valuable form of authentic assessment. Once early childhood educators understand the purposes of appropriate assessment, they can use portfolios to scaffold individual children's learning. This article discusses the purposes of portfolio assessment and describes the different benefits it provide for children, families,…

  9. Teaching Portfolios: Another Perspective.

    Science.gov (United States)

    Candace W. Burns

    2000-01-01

    Argues that teaching portfolios are time consuming and have not been shown to improve college faculty teaching skills. Raises some unanswered questions concerning teaching portfolios and reviews what is known about effective teaching at the college level. Suggests that constructing the portfolio often becomes the focus instead of instructional…

  10. Comprehensive Education Portfolio with a Career Focus

    Science.gov (United States)

    Kruger, Evonne J.; Holtzman, Diane M.; Dagavarian, Debra A.

    2013-01-01

    There are many types of student portfolios used within academia: the prior learning portfolio, credentialing portfolio, developmental portfolio, capstone portfolio, individual course portfolio, and the comprehensive education portfolio. The comprehensive education portfolio (CEP), as used by the authors, is a student portfolio, developed over…

  11. The regional electricity generation mix in Scotland. A portfolio selection approach incorporating marine technologies

    Energy Technology Data Exchange (ETDEWEB)

    Allan, Grant; Eromenko, Igor; McGregor, Peter [Fraser of Allander Institute, Department of Economics, University of Strathclyde, Sir William Duncan Building, 130 Rottenrow, Glasgow G4 0GE (United Kingdom); Swales, Kim [Department of Economics, University of Strathclyde, Sir William Duncan Building, 130 Rottenrow, Glasgow G4 0GE (United Kingdom)

    2011-01-15

    Standalone levelised cost assessments of electricity supply options miss an important contribution that renewable and non-fossil fuel technologies can make to the electricity portfolio: that of reducing the variability of electricity costs, and their potentially damaging impact upon economic activity. Portfolio theory applications to the electricity generation mix have shown that renewable technologies, their costs being largely uncorrelated with non-renewable technologies, can offer such benefits. We look at the existing Scottish generation mix and examine drivers of changes out to 2020. We assess recent scenarios for the Scottish generation mix in 2020 against mean-variance efficient portfolios of electricity-generating technologies. Each of the scenarios studied implies a portfolio cost of electricity that is between 22% and 38% higher than the portfolio cost of electricity in 2007. These scenarios prove to be mean-variance 'inefficient' in the sense that, for example, lower variance portfolios can be obtained without increasing portfolio costs, typically by expanding the share of renewables. As part of extensive sensitivity analysis, we find that Wave and Tidal technologies can contribute to lower risk electricity portfolios, while not increasing portfolio cost. (author)

  12. A comparative analysis of renewable electricity support mechanisms for Southeast Asia

    Energy Technology Data Exchange (ETDEWEB)

    Sovacool, Benjamin K. [National University of Singapore, Energy Governance Program, Centre on Asia and Globalisation, Lee Kuan Yew School of Public Policy, 469C Bukit Timah Road, Singapore 259772 (Singapore)

    2010-04-15

    This study evaluates the applicability of eight renewable electricity policy mechanisms for Southeast Asian electricity markets. It begins by describing the methodology behind 90 research interviews of stakeholders in the electricity industry. It then outlines four justifications given by respondents for government intervention to support renewables in Southeast Asia: unpriced negative externalities, counteracting subsidies for conventional energy sources, the public goods aspect of renewable energy, and the presence of non-technical barriers. The article develops an analytical framework to evaluate renewable portfolio standards, green power programs, public research and development expenditures, systems benefits charges, investment tax credits, production tax credits, tendering, and feed-in tariffs in Southeast Asia. It assesses each of these mechanisms according to the criteria of efficacy, cost effectiveness, dynamic efficiency, equity, and fiscal responsibility. The study concludes that one mechanism, feed-in tariffs, is both the most preferred by respondents and the only one that meets all criteria. (author)

  13. The Impact of Location and Proximity on Consumers’ Willingness to Pay for Renewable and Alternative Electricity: The Case of West Virginia

    OpenAIRE

    Nkansah, Kofi; Collins, Alan

    2014-01-01

    In 2015, West Virginia will implement a Renewable and Alternative Energy Portfolio Standards Act. Meeting these standards with either natural gas or wind power will generate different welfare impacts across society. In particular, this study examined how energy source and generation proximity influence consumers’ willingness-to-pay (WTP) for electricity. Using choice modelling, residents within two counties with distinct location characteristics (existing coal power plant or wind farm) were a...

  14. Do biofuel blending mandates reduce gasoline consumption? Implications of state-level renewable fuel standards for energy security

    Science.gov (United States)

    Lim, Shinling

    In an effort to keep America's addiction to oil under control, federal and state governments have implemented a variety of policy measures including those that determine the composition of motor gasoline sold at the pump. Biofuel blending mandates known as Renewable Fuel Standards (RFS) are designed to reduce the amount of foreign crude oil needed to be imported as well as to boost the local ethanol and corn industry. Yet beyond looking at changes in gasoline prices associated with increased ethanol production, there have been no empirical studies that examine effects of state-level RFS implementation on gasoline consumption. I estimate a Generalized Least Squares model for the gasoline demand for the 1993 to 2010 period with state and time fixed effects controlling for RFS. States with active RFS are Minnesota, Hawaii, Missouri, Florida, Washington, and Oregon. I find that, despite the onset of federal biofuel mandates across states in 2007 and the lower energy content of blended gasoline, being in a state that has implemented RFS is associated with 1.5% decrease in gasoline consumption (including blended gasoline). This is encouraging evidence for efforts to lessen dependence on gasoline and has positive implications for energy security.

  15. Reinforcement Learning in Repeated Portfolio Decisions

    OpenAIRE

    Diao, Linan; Rieskamp, Jörg

    2011-01-01

    How do people make investment decisions when they receive outcome feedback? We examined how well the standard mean-variance model and two reinforcement models predict people's portfolio decisions. The basic reinforcement model predicts a learning process that relies solely on the portfolio's overall return, whereas the proposed extended reinforcement model also takes the risk and covariance of the investments into account. The experimental results illustrate that people reacted sensitively to...

  16. Designing electricity generation portfolios using the mean-variance approach

    Directory of Open Access Journals (Sweden)

    Jorge Cunha

    2014-06-01

    Full Text Available The use of the mean-variance approach (MVA is well demonstrated in the financial literature for the optimal design of financial assets portfolios. The electricity sector portfolios are also guided by similar objectives, namely maximizing return and minimizing risk. As such, this paper proposes two possible MVA for the design of optimal renewable electricity production portfolios. The first approach is directed to portfolio output maximization and the second one is directed to portfolio cost optimization. The models implementation was achieved from data obtained for each quarter of an hour for a time period close to four years for the Portuguese electricity system. A set of renewable energy sources (RES portfolios was obtained, mixing three RES technologies, namely hydro power, wind power and photovoltaic. This allowed to recognize the seasonality of the resources demonstrating that hydro power output is positively correlated with wind and that photovoltaic is negatively correlated with both hydro and wind. The results showed that for both models the less risky solutions are characterised by a mix of RES technologies, taking advantage of the diversification benefits. As for the highest return solutions, as expected those were the ones with higher risk but the portfolio composition largely depends on the assumed costs of each technology.

  17. E-portfolios for the aspiring professional.

    Science.gov (United States)

    Andre, Kate

    2010-01-01

    The introduction of the ANMC's Continuing Competence Framework means that an increasing number of Australian Registered Nurses and Registered Midwives will be required to submit a portfolio if audited in order to maintain their registration. As several professional organisations and State regulatory authorities have already demonstrated, nurses and midwives will be supported to do this. However there is a risk that individuals commencing a portfolio for the first time will attempt to deal with the requirement by focussing on the minimum standards set by the regulatory authorities. Critics of the use of professional portfolios are quite correct, compiling and managing a portfolio can be a time consuming and irrelevant process if not well implemented. As this article will elaborate, e-Portfolios have a range of potential professional benefits including supporting individuals through a critical reflective approach to competency development, supporting professional collaboration and providing a structure for planning their career progression. This article provides an overview of the potential benefits of e-Portfolio platforms including detailing the capacities for information storage and recall and the provision of tools to support structuring and reporting information to further develop and communicate professional achievements. The objective is to entice the ambitious professional and their employers/professional associations to consider utilizing the extended capacities of e-Portfolios.

  18. POSSIBILISTIC SHARPE RATIO BASED NOVICE PORTFOLIO SELECTION MODELS

    Directory of Open Access Journals (Sweden)

    Rupak Bhattacharyya

    2013-02-01

    Full Text Available This paper uses the concept of possibilistic risk aversion to propose a new approach for portfolio selection in fuzzy environment. Using possibility theory, the possibilistic mean, variance, standard deviation and risk premium of a fuzzy number are established. Possibilistic Sharpe ratio is defined as the ratio of possibilistic risk premium and possibilistic standard deviation of a portfolio. The Sharpe ratio is a measure of the performance of the portfolio compared to the risk taken. The higher the Sharpe ratio, the better the performance of the portfolio is and the greater the profits of taking risk. New models of fuzzy portfolio selection considering the possibilistic Sharpe ratio, return and skewness of the portfolio are considered. The feasibility and effectiveness of the proposed method is illustrated by numerical example extracted from Bombay Stock Exchange (BSE, India and is solved by multiple objective genetic algorithm (MOGA.

  19. Study of the main mechanisms for incentive alternative sources of renewable energy for power generation in Chile, Argentina and Brazil; Estudo dos principais mecanismos de incentivo as fontes alternativas de energia para geracao renovavel de eletricidade no Chile, Argentina e Brasil

    Energy Technology Data Exchange (ETDEWEB)

    Nogueira, Larissa Goncalves [Universidade Estadual de Campinas (FEM/UNICAMP), SP (Brazil). Fac. de Engenharia Mecanica. Dept. de Energia; Dedecca, Joao Gorestein; Jannuzzi, Gilberto de Martinno; Gomes, Rodolfo Dourado [Universidade Estadual de Campinas (UNICAMP), SP (Brazil)

    2010-07-01

    From the experience of developed countries, Brazil, Chile and Argentina are implementing some important mechanisms for encouraging alternative sources of renewable energy for power generation and thus manage to incorporate these power sources in their power matrix. However, the obstacles faced are not insignificant. This study will present and analyze the Chilean, Argentinean and Brazilian experience when it comes to implementing programs and policies based on feed-in tariffs, renewable portfolio standard and bidding mechanisms. (author)

  20. On measuring the sensitivity of the optimal portfolio allocation

    OpenAIRE

    Iwona Konarzewska

    2008-01-01

    In this paper we consider the sensitivity problem connected with portfolio optimization results when different measures of risk such as portfolio rates of return standard deviation, portfolio VaR, CVaR are minimized. Conditioning the data (represented by spectral condition index of the rates of return correlation matrix) plays, as it is shown, a crucial role in describing the properties of the models. We report on the research conducted for 13 largest firms on Warsaw Stock Exchange.

  1. A note on calculating the optimal risky portfolio

    OpenAIRE

    Reha H. Tütüncü

    2001-01-01

    Given a number of risky assets and a riskless asset, the set of efficient portfolios in the mean-variance optimization sense are combinations of the riskless asset and a unique optimal risky portfolio. This note shows how a simple modification of Markowitz' method of critical lines can be used to determine the optimal risky portfolio in a faster, more reliable, and more memory-efficient way than the standard approaches.

  2. Use of Reflective Portfolios in Health Sciences Education

    OpenAIRE

    Plaza, Cecilia M.; Draugalis, JoLaine Reierson; Slack, Marion K.; Skrepnek, Grant H.; Sauer, Karen Ann

    2007-01-01

    Reflective portfolios are a collection of evidence that through critical reflection on its contents demonstrate achievement as well as personal and professional development. The purpose of this paper is to provide a review of the literature on the use of reflective portfolios and to develop a set of factors to guide schools and colleges of pharmacy as they implement reflective portfolios into their respective curricula as stated in Standards 2007.

  3. Use of reflective portfolios in health sciences education.

    Science.gov (United States)

    Plaza, Cecilia M; Draugalis, Jolaine Reierson; Slack, Marion K; Skrepnek, Grant H; Sauer, Karen Ann

    2007-04-15

    Reflective portfolios are a collection of evidence that through critical reflection on its contents demonstrate achievement as well as personal and professional development. The purpose of this paper is to provide a review of the literature on the use of reflective portfolios and to develop a set of factors to guide schools and colleges of pharmacy as they implement reflective portfolios into their respective curricula as stated in Standards 2007.

  4. Renewable Energy Legislation in China:Political and Institutional Strategy for Effective Implementation

    Institute of Scientific and Technical Information of China (English)

    Ren Dongming; Joanna Lewis

    2004-01-01

    Over the past decade, the Chinese government has developed several plans regulations and policy measures related to the development of renewable energy technologies and has implemented a series of pilot projects. Chinese policymakers have spent several years studying how renewable energy policy models that have been used internationally could be implemented in China. Programs are currently underway to implement pilot renewable portfolio standards, or mandatory market shares (MMS) for renewable energy, in several provinces.This paper examines the primary institutions that are involved in promoting renewable policies in China, the structure of the policies that currently are being drafted, and the status of the complementary,national-level renewable energy law being drafted to provide a legal basis for ongoing local and nationallevel policies. It then examines the legal requirements for promoting renewable energy legislation under the Chinese law-making system. Finally, it provides recommendations for strategies to ensure the smooth implementation of a multi-faceted national renewable energy policy and legal framework.

  5. Constant Proportion Portfolio Insurance

    DEFF Research Database (Denmark)

    Jessen, Cathrine

    2014-01-01

    Portfolio insurance, as practiced in 1987, consisted of trading between an underlying stock portfolio and cash, using option theory to place a floor on the value of the position, as if it included a protective put. Constant Proportion Portfolio Insurance (CPPI) is an option-free variation...... on the theme, originally proposed by Fischer Black. In CPPI, a financial institution guarantees a floor value for the “insured” portfolio and adjusts the stock/bond mix to produce a leveraged exposure to the risky assets, which depends on how far the portfolio value is above the floor. Plain-vanilla portfolio...... insurance largely died with the crash of 1987, but CPPI is still going strong. In the frictionless markets of finance theory, the issuer’s strategy to hedge its liability under the contract is clear, but in the real world with transactions costs and stochastic jump risk, the optimal strategy is less obvious...

  6. Risk modelling in portfolio optimization

    Science.gov (United States)

    Lam, W. H.; Jaaman, Saiful Hafizah Hj.; Isa, Zaidi

    2013-09-01

    Risk management is very important in portfolio optimization. The mean-variance model has been used in portfolio optimization to minimize the investment risk. The objective of the mean-variance model is to minimize the portfolio risk and achieve the target rate of return. Variance is used as risk measure in the mean-variance model. The purpose of this study is to compare the portfolio composition as well as performance between the optimal portfolio of mean-variance model and equally weighted portfolio. Equally weighted portfolio means the proportions that are invested in each asset are equal. The results show that the portfolio composition of the mean-variance optimal portfolio and equally weighted portfolio are different. Besides that, the mean-variance optimal portfolio gives better performance because it gives higher performance ratio than the equally weighted portfolio.

  7. Renewables in Global Energy Supply

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    Renewable energies are essential contributors to the energy supply portfolio as they contribute to world energy supply security, reducing dependency on fossil fuel resources, and provide opportunities for mitigating greenhouse gases. Differences in definition and lack of adequate data complicated the discussion between participants on these key issues. The International Energy Agency believes that this fact sheet can be of use to all to facilitate the debate on the past, current and future place and role of renewables in total energy supply. Our goal is to present as objectively as possible the main elements of the current renewables energy situation. The definitions and coverage of national statistics vary between countries and organisations. In this fact sheet, the renewables definition includes combustible renewables and waste (CRW), hydro, geothermal, solar, wind, tide and wave energy.

  8. Portfolio Optimization in R

    OpenAIRE

    M. Andrecut

    2013-01-01

    We consider the problem of finding the efficient frontier associated with the risk-return portfolio optimization model. We derive the analytical expression of the efficient frontier for a portfolio of N risky assets, and for the case when a risk-free asset is added to the model. Also, we provide an R implementation, and we discuss in detail a numerical example of a portfolio of several risky common stocks.

  9. THEORETICAL ASPECTS OF THREE-ASSET PORTFOLIO MANAGEMENT

    OpenAIRE

    Michal ŠOLTÉS

    2012-01-01

    The paper deals with three-asset portfolio. It focuses on ordinary investor, for whom the Markowitz’s theory of selection of optimal portfolio is often too difficult to use in practise. In the paper, new formulas for calculation of the weights of the assets in three-asset portfolio optimised according to the risk measured by standard deviation are being derived. The paper also deals with comparison of optimisation of two- and three-asset portfolio. Also the formulas for calculation of weights...

  10. Mortgage Loan Portfolio Optimization Using Multi-Stage Stochastic Programming

    DEFF Research Database (Denmark)

    Rasmussen, Kourosh Marjani; Clausen, Jens

    2007-01-01

    reduction and LP relaxation are used to obtain near optimal solutions for large problem instances. Our results show that the standard Danish mortgagor should hold a more diversified portfolio of mortgage loans, and that he should rebalance the portfolio more frequently than current practice....

  11. E-Portfolios in Teacher Education: The UNBC Experience

    Science.gov (United States)

    Kitchenham, Andrew

    2008-01-01

    This paper presents the preliminary findings from the University of Northern British Columbia's e-portfolio project, entitled the Digital Record of Student Success (DRSS). The e-portfolio requires that the Education Program students provide artifacts of their learning related to the British Columbia College of Teachers' 13 standards for…

  12. Involving Classroom Teachers in the Assessment of Preservice Intern Portfolios.

    Science.gov (United States)

    Rakow, Steven J.

    1999-01-01

    The University of Houston-Clear Lake requires preservice teachers to develop a portfolio to demonstrate their proficiency in seven standard areas. The portfolios are developed and assessed under the guidance of university faculty and mentor teachers at the public schools. This team assessment provides interns more extensive and objective feedback,…

  13. Exploring the Project Portfolio Manager's Role: Between a Data Manager and a Strategic Advisor

    NARCIS (Netherlands)

    Filippov, S.; Van der Weg, R.; Van Ogtrop, F.; Beelen, P.; Mooi, H.

    2014-01-01

    Many companies adopt project portfolio management processes to manage multi-project environments effectively and efficiently. One of the key roles in this process is assigned to the project portfolio manager. This role is formally defined in various guidelines and standards of portfolio management.

  14. Exploring the Project Portfolio Manager's Role: Between a Data Manager and a Strategic Advisor

    NARCIS (Netherlands)

    Filippov, S.; Van der Weg, R.; Van Ogtrop, F.; Beelen, P.; Mooi, H.

    2014-01-01

    Many companies adopt project portfolio management processes to manage multi-project environments effectively and efficiently. One of the key roles in this process is assigned to the project portfolio manager. This role is formally defined in various guidelines and standards of portfolio management.

  15. Using Electronic Portfolios

    Science.gov (United States)

    Page, Deb

    2012-01-01

    The digitized collections of artifacts known as electronic portfolios are creating solutions to a variety of performance improvement needs in ways that are cost-effective and improve both individual and group learning and performance. When social media functionality is embedded in e-portfolios, the tools support collaboration, social learning,…

  16. Economic Hedging Portfolios

    NARCIS (Netherlands)

    van den Goorbergh, R.W.J.; de Roon, F.A.; Werker, B.J.M.

    2003-01-01

    In this paper we study portfolios that investors hold to hedge economic risks.Using a model of state-dependent utility, we show that agents economic hedging portfolios can be obtained by an intuitively appealing, risk aversion-weighted approximate replication of the economic risk variables using the

  17. Households' portfolio choices

    NARCIS (Netherlands)

    Hochgürtel, S.

    1998-01-01

    This thesis presents four topics on households' portfolio choices. Empirically, households do not hold well-diversified wealth portfolios. In particular, they refrain from putting their savings into risky assets. We explore several ways that might help explaining this observation. Using Dutch

  18. Using Electronic Portfolios

    Science.gov (United States)

    Page, Deb

    2012-01-01

    The digitized collections of artifacts known as electronic portfolios are creating solutions to a variety of performance improvement needs in ways that are cost-effective and improve both individual and group learning and performance. When social media functionality is embedded in e-portfolios, the tools support collaboration, social learning,…

  19. Portfolio Based Management

    Science.gov (United States)

    Daigneau, William A.

    2010-01-01

    In this article, the author talks about Portfolio Management, a concept used to make allocation decisions in the world of financial investments. While much has been written about Portfolio theory, and the term is widely used in the facilities management industry, little is really understood about the concept and its real-world application. The…

  20. The thermodynamics of portfolios

    OpenAIRE

    Edward W. Piotrowski; Jan Sladkowski

    2000-01-01

    We propose a new method of valuation of portfolios and their respective investing strategies. To this end we define a canonical ensemble of portfolios that allows to use the formalism of thermodynamics. (final version published in Acta Phys.Pol.B,32(2001)597-604)

  1. PSN: Portfolio Social Network

    DEFF Research Database (Denmark)

    Cortes, Jordi Magrina; Nizamani, Sarwat; Memon, Nasrullah

    2014-01-01

    In this paper we present a web-based information system which is a portfolio social network (PSN) that provides solutions to the recruiters and job seekers. The proposed system enables users to create portfolio so that he/she can add his specializations with piece of code if any specifically...

  2. 基于可信性安全准则的模糊动态投资组合模型%Fuzzy Dynamic Portfolio Selection Model Based on the Safety Standards of Credibility

    Institute of Scientific and Technical Information of China (English)

    王金凤; 曹学明; 邱根胜

    2012-01-01

    研究了模糊环境下的动态投资组合模型,将证券的收益率描述为模糊变量,提出了基于可信性测度的安全准则,可信性安全准则反映了投资者对灾难事件的容忍水平.建立了基于可信性安全准则的模糊动态投资组合模型,对建立的模型设计了基于模糊模拟的混合智能算法进行求解,并在Visual C++环境下,用C语言实现了对实例的求解,证明了混合智能算法的有效性和合理性.%This paper studies the dynamic portfolio model in the fuzzy environment. It puts forward the safety criterion based on credibility measure through describing the security yield as fuzzy variable. The safety criterion of credibility reflects the investor's tolerance level of catastrophic events. The fuzzy dynamic portfolio model based on the safety standards of credibility is established. The hybrid intelligent algorithm based on the fuzzy simulation is designed to solve the established model. And in Visual C + + environment, it proves the efficiency and rationality of hybrid intelligent algorithm through solving the living examples by using C language.

  3. Students' reflections in a portfolio pilot: highlighting professional issues.

    Science.gov (United States)

    Haffling, Ann-Christin; Beckman, Anders; Pahlmblad, Annika; Edgren, Gudrun

    2010-01-01

    Portfolios are highlighted as potential assessment tools for professional competence. Although students' self-reflections are considered to be central in the portfolio, the content of reflections in practice-based portfolios is seldom analysed. To investigate whether students' reflections include sufficient dimensions of professional competence, notwithstanding a standardized portfolio format, and to evaluate students' satisfaction with the portfolio. Thirty-five voluntary final-year medical students piloted a standardized portfolio in a general practice (GP) attachment at Lund University, Sweden. Students' portfolio reflections were based upon documentary evidence from practice, and aimed to demonstrate students' learning. The reflections were qualitatively analysed, using a framework approach. Students' evaluations of the portfolio were subjected to quantitative and qualitative analysis. Among professional issues, an integration of cognitive, affective and practical dimensions in clinical practice was provided by students' reflections. The findings suggested an emphasis on affective issues, particularly on self-awareness of feelings, attitudes and concerns. In addition, ethical problems, clinical reasoning strategies and future communication skills training were subjects of several reflective commentaries. Students' reflections on their consultation skills demonstrated their endeavour to achieve structure in the medical interview by negotiation of an agenda for the consultation, keeping the interview on track, and using internal summarizing. The importance of active listening and exploration of patient's perspective was also emphasized. In students' case summaries, illustrating characteristic attributes of GP, the dominating theme was 'patient-centred care', including the patient-doctor relationship, holistic modelling and longitudinal continuity. Students were satisfied with the portfolio, but improved instructions were needed. A standardized portfolio in a

  4. Role of Energy Storage with Renewable Electricity Generation (Report Summary) (Presentation)

    Energy Technology Data Exchange (ETDEWEB)

    Denholm, P.; Ela, E.; Kirby, B.; Milligan, M.

    2010-03-01

    Renewable energy sources, such as wind and solar, have vast potential to reduce dependence on fossil fuels and greenhouse gas emissions in the electric sector. Climate change concerns, state initiatives including renewable portfolio standards, and consumer efforts are resulting in increased deployments of both technologies. Both solar photovoltaics (PV) and wind energy have variable and uncertain (sometimes referred to as "intermittent") output, which are unlike the dispatchable sources used for the majority of electricity generation in the United States. The variability of these sources has led to concerns regarding the reliability of an electric grid that derives a large fraction of its energy from these sources as well as the cost of reliably integrating large amounts of variable generation into the electric grid. In this report, we explore the role of energy storage in the electricity grid, focusing on the effects of large-scale deployment of variable renewable sources (primarily wind and solar energy).

  5. Renewable Electricity Benefits Quantification Methodology: A Request for Technical Assistance from the California Public Utilities Commission

    Energy Technology Data Exchange (ETDEWEB)

    Mosey, G.; Vimmerstedt, L.

    2009-07-01

    The California Public Utilities Commission (CPUC) requested assistance in identifying methodological alternatives for quantifying the benefits of renewable electricity. The context is the CPUC's analysis of a 33% renewable portfolio standard (RPS) in California--one element of California's Climate Change Scoping Plan. The information would be used to support development of an analytic plan to augment the cost analysis of this RPS (which recently was completed). NREL has responded to this request by developing a high-level survey of renewable electricity effects, quantification alternatives, and considerations for selection of analytic methods. This report addresses economic effects and health and environmental effects, and provides an overview of related analytic tools. Economic effects include jobs, earnings, gross state product, and electricity rate and fuel price hedging. Health and environmental effects include air quality and related public-health effects, solid and hazardous wastes, and effects on water resources.

  6. Teaching portfolios for faculty evaluation.

    Science.gov (United States)

    Melland, H I; Volden, C M

    1996-01-01

    Teaching portfolios are stimulating much discussion as more comprehensive approaches to evaluating teaching are sought. Portfolios can be used effectively for both formative and summative evaluative purposes. The content of a portfolio may vary greatly, but commonly includes material that reflects student learning, evaluative materials, and a personal statement on the faculty's philosophy of education. Professional growth often accompanies developing a personal teaching portfolio.

  7. Electronic Portfolios for Faculty Development.

    Science.gov (United States)

    Heath, Marilyn; Cockerham, Steve

    This paper examines the conceptual process of creating an electronic professional portfolio for faculty development. The characteristics of electronic professional portfolios and the benefits of electronic portfolio development are discussed. Additional topics covered include: collection and selection of portfolio contents; reflection on portfolio…

  8. Successful Use of Teaching Portfolios.

    Science.gov (United States)

    Seldin, Peter; And Others

    This book offers information on fostering effective use of teaching portfolios by college faculty. The first chapter, "The Teaching Portfolio Concept" (Peter Seldin), discusses how the teaching portfolio concept differs from other evaluation approaches, what is and is not included in a portfolio, and why the content depends on the purpose of the…

  9. Projected Benefits of EERE's Portfolio - FY 2011

    Energy Technology Data Exchange (ETDEWEB)

    none,

    2011-11-17

    This collection of data tables and charts shows the benefits metrics related to energy security, environmental impacts, and economic impacts for the entire EERE portfolio of renewable energy technologies. Data are presented for the years 2015, 2020, 2030, and 2050, for both the NEMS and MARKAL models.

  10. EERE Portfolio. Primary Benefits Metrics for FY09

    Energy Technology Data Exchange (ETDEWEB)

    none,

    2011-11-01

    This collection of data tables shows the benefits metrics related to energy security, environmental impacts, and economic impacts for both the entire EERE portfolio of renewable energy technologies as well as the individual technologies. Data are presented for the years 2015, 2020, 2030, and 2050, for both the NEMS and MARKAL models.

  11. Projected Benefits of EERE’s Portfolio. FY 2010

    Energy Technology Data Exchange (ETDEWEB)

    None, None

    2011-11-17

    This collection of data tables and charts shows the benefits metrics related to energy security, environmental impacts, and economic impacts for the entire EERE portfolio of renewable energy technologies. Data are presented for the years 2015, 2020, 2030, and 2050, for both the NEMS and MARKAL models.

  12. Large deviations and portfolio optimization

    Science.gov (United States)

    Sornette, Didier

    Risk control and optimal diversification constitute a major focus in the finance and insurance industries as well as, more or less consciously, in our everyday life. We present a discussion of the characterization of risks and of the optimization of portfolios that starts from a simple illustrative model and ends by a general functional integral formulation. A major item is that risk, usually thought of as one-dimensional in the conventional mean-variance approach, has to be addressed by the full distribution of losses. Furthermore, the time-horizon of the investment is shown to play a major role. We show the importance of accounting for large fluctuations and use the theory of Cramér for large deviations in this context. We first treat a simple model with a single risky asset that exemplifies the distinction between the average return and the typical return and the role of large deviations in multiplicative processes, and the different optimal strategies for the investors depending on their size. We then analyze the case of assets whose price variations are distributed according to exponential laws, a situation that is found to describe daily price variations reasonably well. Several portfolio optimization strategies are presented that aim at controlling large risks. We end by extending the standard mean-variance portfolio optimization theory, first within the quasi-Gaussian approximation and then using a general formulation for non-Gaussian correlated assets in terms of the formalism of functional integrals developed in the field theory of critical phenomena.

  13. Applying Portfolio Selection: A Case of Indonesia Stock Exchange

    Directory of Open Access Journals (Sweden)

    Maria Praptiningsih

    2012-01-01

    Full Text Available This study has three objectives. First, we investigate whether Modern Portfolio Theory can be applied on the financial decisions that made by investors or individual in order to increase their wealth through investment activities. Second, we examine the real behavior of each asset in terms of capital assets pricing models. Third, we determine whether our portfolio is the best model to produce a higher return in a given level of risk or a lowest risk in a particular level of return. It is found that three different stocks listed in the Indonesia Stock Exchange have a positive relationship with market returns. The reactions of the investor regarding these stocks are not influenced by each other. Lastly, the minimum variance portfolio (MVP point which represents the single portfolio with the lowest possible level of standard deviation, occurs when the expected return of portfolio is approximately 2.2 percent at a standard deviation of 8.8 percent.

  14. Risk minimization and portfolio diversification

    OpenAIRE

    Farzad Pourbabaee; Minsuk Kwak; Traian A. Pirvu

    2014-01-01

    We consider the problem of minimizing capital at risk in the Black-Scholes setting. The portfolio problem is studied given the possibility that a correlation constraint between the portfolio and a financial index is imposed. The optimal portfolio is obtained in closed form. The effects of the correlation constraint are explored; it turns out that this portfolio constraint leads to a more diversified portfolio.

  15. Analysis of Renewable Energy Deployment in Colorado by 2030

    Energy Technology Data Exchange (ETDEWEB)

    Muren, R.; Kutscher, C.

    2007-12-01

    This paper reports that, currently, most utilities in the state of Colorado are subject to the 20% renewable portfolio standard (RPS) passed by voters in 2004 and expanded by the state legislature in 2007. However, because of bonuses and exemptions written into the law, the true required renewable energy penetration is only 12.3%, making the law less then adequate for addressing climate change. The study aims to assess the real renewable energy and carbon impacts of the current RPS and investigates the benefits of increasing the RPS to true 20% and 30% values. A user input-driven predictive Excel model was developed to find the proper technology spread, electrical outputs, and carbon reduction for each RPS. It was found that while all the RPS variants are technically feasible based on available renewable resources, only the 30% RPS meets the carbon reductions that are thought necessary to avoid the worst impacts of climate change. The report then comments on the results and what RPS percentage will be the most acceptable avenue.

  16. Portfolio Management System

    Data.gov (United States)

    US Agency for International Development — PfMS is an implementation of WorkLenz. WorkLenz is USAID's portfolio management system tool. It is a commercially available, off-the-shelf (COTS) package that...

  17. Hvorfor anvende portfolio eksamen?

    DEFF Research Database (Denmark)

    Elley, Tina Ninka

    2014-01-01

    from the clinical part. The two topics are weighted according to the distribution of ECTS points between theory and clinic. We implemented the portfolio format in November 2012, and the evaluations from the students have shown that the format is good; the students get less stressed at the exam...... to minimize the students' stress level? Then the pedagogical considerations started – where and how to do this? The conclusion was to work with the portfolio format at module 6 and module 7 and make it the exam form, as it was possible to divide the expected learning outcome for the two modules into topics......, with every topic representing a portfolio hand-in. Both modules include clinical practice. It was decided to have five topics; three topics at the theoretical part and two topics at the clinical part. At the exam two topics (portfolio presentations) are picked at random, one from the theoretical part and one...

  18. Renewable Energy Technology—Is It a Manufactured Technology or an Information Technology?

    Directory of Open Access Journals (Sweden)

    Kwok L. Shum

    2010-07-01

    Full Text Available Socio-technical or strategic approach to renewable energy deployment all suggests that the uptake of renewable energy technology such as solar photovoltaic is as much a social issue as a technical issue. Among social issues, one most direct and immediate component is the cost of the renewable energy technology. Because renewable electricity provides no new functionality—a clean electron does the same work as a dirty electron does—but is relatively expensive compared with fossil fuel based electricity, there is currently an under-supply of renewable electricity. Policy instruments based on economics approaches are therefore developed to encourage the production and consumption of renewable electricity, aiming to remediate the market inefficiencies that stem from the failure in internalizing the environmental or social costs of fossil fuels. In this vein, the most discussed instruments are renewable portfolio standard or quota based system and the general category of feed-in tariff. Feed-in tariff is to support output or generation of the renewable electricity by subsidizing revenues. The existing discussions have all concerned about the relative effectiveness of these two instruments in terms of cost, prices and implementation efficiency. This paper attempts a different basis of evaluation of these two instruments in terms of cost and (network externality effects. The cost effect is driven by deploying the renewable as a manufactured technology, and the network externality effect is driven by deploying the renewable as an information technology. The deployment instruments are studied in terms of how these two effects are leveraged in the deployment process. Our formulation lends itself to evolutionary policy interpretation. Future research directions associated with this new energy policy framework is then suggested.

  19. Portfolio Assessment: Making Connections, Guiding Change

    Science.gov (United States)

    King, Caryn M.; Patterson, Nancy G.; Stolle, Elizabeth Petroelje

    2008-01-01

    Three literacy teacher-educators chart the ways in which portfolio assessment impacted their program. They discuss the tension between the demands of national accreditation standards and faculty belief systems in more ecological approaches. They describe the processes of change that occurred programmatically and individually which continue to…

  20. Teacher Candidate Perceptions of Electronic Portfolios

    Science.gov (United States)

    Baronak, William M.

    2011-01-01

    Today, many students in higher education are considered digital natives--savvier and more experienced with technology than students in the past. In teacher preparation programs, teacher education students are commonly expected to demonstrate achievement of program goals and objectives and national teaching standards in a "portfolio." Gaining in…

  1. Integrating Renewable Electricity on the Grid

    Science.gov (United States)

    Crabtree, George; Misewich, Jim; Ambrosio, Ron; Clay, Kathryn; DeMartini, Paul; James, Revis; Lauby, Mark; Mohta, Vivek; Moura, John; Sauer, Peter; Slakey, Francis; Lieberman, Jodi; Tai, Humayun

    2011-11-01

    The demand for carbon-free electricity is driving a growing movement of adding renewable energy to the grid. Renewable Portfolio Standards mandated by states and under consideration by the federal government envision a penetration of 20-30% renewable energy in the grid by 2020 or 2030. The renewable energy potential of wind and solar far exceeds these targets, suggesting that renewable energy ultimately could grow well beyond these initial goals. The grid faces two new and fundamental technological challenges in accommodating renewables: location and variability. Renewable resources are concentrated at mid-continent far from population centers, requiring additional long distance, high-capacity transmission to match supply with demand. The variability of renewables due to the characteristics of weather is high, up to 70% for daytime solar due to passing clouds and 100% for wind on calm days, much larger than the relatively predictable uncertainty in load that the grid now accommodates by dispatching conventional resources in response to demand. Solutions to the challenges of remote location and variability of generation are needed. The options for DC transmission lines, favored over AC lines for transmission of more than a few hundred miles, need to be examined. Conventional high voltage DC transmission lines are a mature technology that can solve regional transmission needs covering one- or two-state areas. Conventional high voltage DC has drawbacks, however, of high loss, technically challenging and expensive conversion between AC and DC, and the requirement of a single point of origin and termination. Superconducting DC transmission lines lose little or no energy, produce no heat, and carry higher power density than conventional lines. They operate at moderate voltage, allowing many "on-ramps" and "off-ramps" in a single network and reduce the technical and cost challenges of AC to DC conversion. A network of superconducting DC cables overlaying the existing

  2. Power marketing and renewable energy

    Energy Technology Data Exchange (ETDEWEB)

    Fang, J.M.

    1997-09-01

    Power marketing refers to wholesale and retail transactions of electric power made by companies other than public power entities and the regulated utilities that own the generation and distribution lines. The growth in power marketing has been a major development in the electric power industry during the last few years, and power marketers are expected to realize even more market opportunities as electric industry deregulation proceeds from wholesale competition to retail competition. This Topical Issues Brief examines the nature of the power marketing business and its relationship with renewable power. The information presented is based on interviews conducted with nine power marketing companies, which accounted for almost 54% of total power sales by power marketers in 1995. These interviews provided information on various viewpoints of power marketers, their experience with renewables, and their respective outlooks for including renewables in their resource portfolios. Some basic differences exist between wholesale and retail competition that should be recognized when discussing power marketing and renewable power. At the wholesale level, the majority of power marketers stress the commodity nature of electricity. The primary criteria for developing resource portfolios are the same as those of their wholesale customers: the cost and reliability of power supplies. At the retail level, electricity may be viewed as a product that includes value-added characteristics or services determined by customer preferences.

  3. Renewal processes

    CERN Document Server

    Mitov, Kosto V

    2014-01-01

    This monograph serves as an introductory text to classical renewal theory and some of its applications for graduate students and researchers in mathematics and probability theory. Renewal processes play an important part in modeling many phenomena in insurance, finance, queuing systems, inventory control and other areas. In this book, an overview of univariate renewal theory is given and renewal processes in the non-lattice and lattice case are discussed. A pre-requisite is a basic knowledge of probability theory.

  4. Preparedness Portfolios and Portfolio Studios: Supporting Self-Authoring Engineers

    Science.gov (United States)

    Sattler, Brook; Turns, Jennifer

    2015-01-01

    In this work, we engaged engineering undergraduate students in constructing an ePortfolio. The purpose of the research presented here was to explore the question, "If and in what ways do students report experiencing the construction of a preparedness portfolio in a portfolio studio as an opportunity to develop into self-authoring…

  5. To Portfolio or Not to Portfolio: Helpful or Hyped?

    Science.gov (United States)

    Lombardi, Judy

    2008-01-01

    Portfolios have received mixed but primarily positive reviews in colleges and universities. The portfolio offers a tool of authentic assessment as well as an opportunity for students to be reflective practitioners. Portfolio implementation and evaluation has become a feature of many university departments. The author describes different approaches…

  6. Defining Toll Fee of Wheeling Renewable with Reference to a Gas Pipeline in Indonesia

    Science.gov (United States)

    Hakim, Amrullah

    2017-07-01

    Indonesia has a huge number of renewable energy sources (RE) however; the utilization of these is currently very low. The main challenge of power production is its alignment with consumption levels; supply should equal demand at all times. There is a strong initiative from corporations with high energy demand, compared to other sectors, to apply a renewable portfolio standard for their energy input, e.g. 15% of their energy consumption requirement must come from a renewable energy source. To support this initiative, the utilization of power wheeling will help large factories on industrial estates to source firm and steady renewables from remote sites. The wheeling renewable via PLN’s transmission line has been regulated under the Ministry Decree in 2015 however; the tariff or toll fee has not yet been defined. The potential project to apply wheeling renewable will obtain power supply from a geothermal power plant, with power demand from the scattered factories under one company. This is the concept driving the application of power wheeling in the effort to push the growth of renewable energy in Indonesia. Given that the capacity of PLN’s transmission line are normally large and less congested compared to distribution line, the wheeling renewable can accommodate the scattered factories locations which then results in the cheaper toll fee of the wheeling renewable. Defining the best toll fee is the main topic of this paper with comparison of the toll fee of the gas pipeline infrastructure in Indonesia, so that it can be applied massively to achieve COP21’s commitment.

  7. Portfolio Analysis for Vector Calculus

    Science.gov (United States)

    Kaplan, Samuel R.

    2015-01-01

    Classic stock portfolio analysis provides an applied context for Lagrange multipliers that undergraduate students appreciate. Although modern methods of portfolio analysis are beyond the scope of vector calculus, classic methods reinforce the utility of this material. This paper discusses how to introduce classic stock portfolio analysis in a…

  8. Portfolio Analysis for Vector Calculus

    Science.gov (United States)

    Kaplan, Samuel R.

    2015-01-01

    Classic stock portfolio analysis provides an applied context for Lagrange multipliers that undergraduate students appreciate. Although modern methods of portfolio analysis are beyond the scope of vector calculus, classic methods reinforce the utility of this material. This paper discusses how to introduce classic stock portfolio analysis in a…

  9. Portfolio Assessment and Quality Teaching

    Science.gov (United States)

    Kim, Youb; Yazdian, Lisa Sensale

    2014-01-01

    Our article focuses on using portfolio assessment to craft quality teaching. Extant research literature on portfolio assessment suggests that the primary purpose of assessment is to serve learning, and portfolio assessments facilitate the process of making linkages among assessment, curriculum, and student learning (Asp, 2000; Bergeron, Wermuth,…

  10. Portfolio Preparation Tips for Teachers

    Science.gov (United States)

    Hunter-Lombardi, Brooke

    2008-01-01

    As college deadlines loom, teachers may wonder if there is a magic portfolio formula for their students to follow. After twenty years of thought on portfolio development and the opportunity to review over 10,000 individual portfolios, the author is convinced that there is no single formula for success. With hard work, careful planning, and…

  11. Portfolios. Assessment Resource Kit (ARK).

    Science.gov (United States)

    Forster, Margaret; Masters, Geoff

    In developmental assessment, teachers monitor student progress against a map of developing skills, knowledge, and understanding. Portfolio assessment is a tool to use in developmental assessment, and there are many types of portfolios to support developmental assessment of students. When considering a portfolio type, it is important to consider…

  12. Decentralized Portfolio Management

    Directory of Open Access Journals (Sweden)

    Benjamin Miranda Tabak

    2003-12-01

    Full Text Available We use a mean-variance model to analyze the problem of decentralized portfolio management. We find the solution for the optimal portfolio allocation for a head trader operating in n different markets, which is called the optimal centralized portfolio. However, as there are many traders specialized in different markets, the solution to the problem of optimal decentralized allocation should be different from the centralized case. In this paper we derive conditions for the solutions to be equivalent. We use multivariate normal returns and a negative exponential function to solve the problem analytically. We generate the equivalence of solutions by assuming that different traders face different interest rates for borrowing and lending. This interest rate is dependent on the ratio of the degrees of risk aversion of the trader and the head trader, on the excess return, and on the correlation between asset returns.

  13. Portfolio som undervisningsmedie

    DEFF Research Database (Denmark)

    Keiding, Tina Bering

    2009-01-01

    .   Portfolios baserer sig altovervejende på skrift-sproglig medieret kommunikation. Dette fokus på sprogligt medierede iagttagelser har uddannelsesmæssige og læringsmæssige implikationer, uanset om de tager form som mundtligt refleksivitet (fx i vejledningssituationer) eller skriftlig refleksivitet (fx i...... logbøger og portfolios). Viden er, hvad angår mennesker, ikke sproglig. I det øjeblik viden gives sproglig form - uanset om det er viden som forholdsvis let udtrykkes i sproglig form eller om det er viden som kun vanskeligt lader sig forme til sproglige udtryk - reduceres denne viden i forhold til dens......-intenderede konsekvenser, og at uddannelse og undervisning - modsat den etablerede portfolio-litteratur - må have blik for begge....

  14. The nursing portfolio: a reflection of a professional.

    Science.gov (United States)

    Alexander, Janet G; Craft, Sandra W; Baldwin, Mary Sue; Beers, Geri W; McDaniel, Gretchen S

    2002-01-01

    A nursing portfolio is a means of documenting skills such as communication, creativity, and critical thinking. More important, it reflects professional development, self-evaluation, and achievement of goals. Designing and implementing a portfolio enables traditional nursing students and RNs returning to school to describe their achievements during a specified period of time. For the adult student seeking scholastic or clinical credit for past work or life experiences, the portfolio provides a creative and structured way for this to be obtained without taking a standardized test.

  15. Agile Project Portfolio Management

    DEFF Research Database (Denmark)

    Andersen, Jesper Rank; Riis, Jens Ove; Mikkelsen, Hans

    2005-01-01

    This paper will provide a preliminary introduction to the application of Agile Thinking in management of project portfolio and company development. At any point in time, companies have a crowd of development initiatives spread around the organisation and managed at different levels...... in the managerial hierarchy. They compete for resources and managerial attention, and they often take too long time - and some do not survive in the rapid changing context. Top man¬agers ask for speed, flexibility and effectiveness in the portfolio of development activities (projects). But which competencies...

  16. Comparing students’ perceptions of paper-based and electronic portfolios

    Directory of Open Access Journals (Sweden)

    Maarten van Wesel

    2009-04-01

    Full Text Available \\Electronic portfolios offer many advantages to their paper-based counterparts, including, but not limited to working on ICT skills, adding multimedia and easier sharing of the portfolio. Previous research showed that the quality of a portfolio does not depend on the medium used. In this article the perceived support for self-reflection of an electronic portfolio and a paper-based portfolio in the same ecological setting are compared. We made use of the fact that during this study about half of the first year medical students was using an electronic portfolio (n = 157 and the other half a paper-based portfolio (n = 190. Nine questions were added to the standard end of the block evaluation, which is handed to 25 percent of year one educational groups. Findings suggest that perceptions about the support for self-reflection, and the usefulness of compiling a portfolio, do not differ between students using an electronic portfolio and students using a paper-based portfolio. Résumé : Les portfolios électroniques offrent de nombreux avantages comparativement à leurs homologues de papier, entre autres la possibilité de perfectionner les compétences liées aux TIC, d’ajouter des éléments multimédias et de partager plus facilement le portfolio. Des études précédentes ont montré que la qualité d’un portfolio ne dépend pas du support utilisé. Dans le présent article, nous comparons l’aide à l’autoréflexion perçue pour un portfolio électronique et un portfolio sur support papier dans le même environnement. Dans le cadre de cette étude, nous avons profité du fait qu’environ la moitié des étudiants de première année en médecine utilisait un portfolio électronique (n = 157 et l’autre moitié, un portfolio sur support papier (n = 190. Neuf questions ont été ajoutées à l’évaluation normale remise à 25 pour cent des groupes de première année à la fin du bloc de formation. Les résultats suggèrent que les

  17. Sparse and stable Markowitz portfolios.

    Science.gov (United States)

    Brodie, Joshua; Daubechies, Ingrid; De Mol, Christine; Giannone, Domenico; Loris, Ignace

    2009-07-28

    We consider the problem of portfolio selection within the classical Markowitz mean-variance framework, reformulated as a constrained least-squares regression problem. We propose to add to the objective function a penalty proportional to the sum of the absolute values of the portfolio weights. This penalty regularizes (stabilizes) the optimization problem, encourages sparse portfolios (i.e., portfolios with only few active positions), and allows accounting for transaction costs. Our approach recovers as special cases the no-short-positions portfolios, but does allow for short positions in limited number. We implement this methodology on two benchmark data sets constructed by Fama and French. Using only a modest amount of training data, we construct portfolios whose out-of-sample performance, as measured by Sharpe ratio, is consistently and significantly better than that of the naïve evenly weighted portfolio.

  18. Individual contributions to portfolio risk: risk decomposition for the BET-FI index

    Directory of Open Access Journals (Sweden)

    Marius ACATRINEI

    2015-06-01

    Full Text Available The paper applies Euler formula for decomposing the standard deviation and the Expected Shortfall for the BET-FI equity index. Risk attribution allows the decomposition of the total risk of the portfolio in individual risk units. In this way we can compute the contribution of each company to the overall standard deviation/Expected Shortfall of the portfolio.

  19. Individual contributions to portfolio risk: risk decomposition for the BET-FI index

    OpenAIRE

    Marius ACATRINEI

    2015-01-01

    The paper applies Euler formula for decomposing the standard deviation and the Expected Shortfall for the BET-FI equity index. Risk attribution allows the decomposition of the total risk of the portfolio in individual risk units. In this way we can compute the contribution of each company to the overall standard deviation/Expected Shortfall of the portfolio.

  20. In Their Shoes: Teacher Educators' Reframing Portfolio Development from the Students' Perspective

    Science.gov (United States)

    Klecka, Cari; Donovan, Loretta; Fisher, Robert L.

    2007-01-01

    This article examines 14 teacher educators' development of standards-based electronic portfolios. The research focused on the participants' interpretation of the standards and how they conceptualized the portfolio development process in relation to their professional practice. For one year, participants interacted around the Association of Teacher…

  1. Long-Short Portfolio

    Directory of Open Access Journals (Sweden)

    Leo Shubert

    2006-11-01

    Full Text Available Long-short strategies are one of the most successful tools, applied by hedge funds manager. One under-evaluated stock is bought (long position and an over-evaluated stock is sold (short position at the same time. After a short term, when the values of the stocks are as expected, profit can be realized by a closing transaction. The possibility to find first obvious over- and under-evaluated stocks depends on the number of participants in this markets. While the hedge funds strategies become more popular, the chance to achieve profit by this strategies is shrinking.Therefore two models to generate long-short portfolios are proposed. By this approaches a portfolio A for the long- and a portfolio B for the short position were computed. The difference of the values of A and B is designed to oscillate from negative to positive and reverse. This behavior of oscillating or mean reverting stock prices was stated by e.g. E. Fama and K. R. French (1988. Mean reversion of portfolios can offer the possibility of statistical arbitrage. The proposed linear models were tested by stocks of the Tokyo stock exchange. The results seem to be applicable and show an additional advantage of low systematic risk.

  2. IT Portfolio Management

    DEFF Research Database (Denmark)

    Hansen, Lars Kristian; Kræmmergaard, Pernille

    2012-01-01

    As public organizations increasingly rely on IT-enabled development to provide faster cycle times and better services, IT Project Portfolio Management (IT PPM) has become a high priority issue. This research adopts engaged scholarship to investigate IT PPM practices within a large local government...

  3. Evaluation of IP Portfolios

    DEFF Research Database (Denmark)

    Søberg, Peder Veng

    2009-01-01

    As a result of an inquiry concerning how to evaluate IP (intellectual property) portfolios in order to enable the best possible use of IP resources within organizations, an IP evaluation approach primarily applicable for patents and utility models is developed. The developed approach is useful...

  4. The Electronic Student Portfolio.

    Science.gov (United States)

    Fasick, Emily; McLaren, Clemence

    1995-01-01

    Describes the use of electronic portfolios in one Hawaiian secondary literature class. Students went through their journals, picked two entries that best represented their growth in reading during the course, and explained why. Next they created a presentation about their growth and enjoyment of literature using multimedia technology. (SM)

  5. Portfolio optimization retail investor

    Directory of Open Access Journals (Sweden)

    I. А. Kiseleva

    2016-01-01

    Full Text Available The article notes that the task of the investor's risk management is to, on the one hand, as much as possible to strive to achieve the criterion of risk level, and on the other hand, in any case not exceed it. Since the domestic theory of risk management is under development, the problem of the optimal ratio of "risk-income" becomes now of particular relevance. This article discusses the different distribution areas of the private investor in order to obtain the maximum profit. The analysis showed us the overall economic and political system of the country, as well as the legislative provision of guarantees to the investor. To obtain sufficient income and reduce losses it is important to maintain the optimum value found between the amount of the investor's risk and capital transactions. Model of optimal placement of funds led to the conclusion about inexpediency strong increase in the diversification of the investment portfolio (more than 10 different types of assets in the portfolio, since it increases the complexity of its practical form, while the portfolio characteristics are improved significantly. It is concluded that it is impossible to increase revenue without increasing the risk or reduce risk without reducing income. The analysis shows that there is no single best asset portfolio. It is impossible to increase revenue without increasing the risk or reduce risk without reducing income. Possible combination of the "riskincome" will depend on the objective function. Most diversified and bringing the best return per unit of risk, is a portfolio that contains the most risky assets.

  6. Elements Portfolio Analysis of the Business Model of Non-profit Standards Organization%非营利标准组织商业模式要素组合分析

    Institute of Scientific and Technical Information of China (English)

    张敬娟

    2014-01-01

    In the context of market economy, business model is an important support for the sustainable development of an organization. Taking three non-profit standards organization with international influence (ISO, IEC and ASTM) for examples, the paper conducts an elements portfolio analysis of business model, providing a reference for finding a balance between social and economic values for non-profit organizations.%在市场经济的大环境下,商业模式是一个组织可持续发展的重要支撑。本文以ISO、IEC和ASTM三个有国际影响力的非营利标准组织为例,进行商业模式要素组合分析,以期为非营利标准组织寻求社会价值与经济价值之间的平衡提供借鉴参考。

  7. Portfolio Assessment: A Model for Counselor Education.

    Science.gov (United States)

    Baltimore, Michael L.; And Others

    1996-01-01

    Discusses the benefits of portfolio assessment to counselor education programs. Provides a definition of portfolio and outlines a portfolio approach in counselor education. Asserts that portfolio assessment relies on performance in measuring learning outcomes. Gives an example of portfolio content, along with strategies for evaluating student…

  8. Renewable Energies: A Fix that Can Backfire?

    Science.gov (United States)

    Madani, K.

    2016-12-01

    Renewable energies are recognized as the main remedy for global warming and energy insecurity issues. While considerable efforts are being put into increasing the share of renewable energies to decarbonize the global energy supply portfolio, the unintended consequences of increased renewable energy production have been overlooked. Using a system of systems (SoS) approach that considers the water-land-energy-economy nexus, this presentation discusses the trade-offs between the sustainability of water, land, energy and economic resources that must not be overlooked in developing sustainable solutions to global warming. It is shown how considering these trade-offs can make some of the renewable energies less attractive. A portfolio risk balancing approach is proposed to develop regional energy supply mixes that balance the overall effects of the energy mix on various resources while taking into account the regional limitations in resource availability. Such energy mixes would include both renewable and non-renewable energies, but would not solve one problem (i.e. global warming) by worsening other problems (e.g., water scarcity, food shortage, economic instability).

  9. Integrating Land Conservation and Renewable Energy Goals in California: Assessing Land Use and Economic Cost Impacts Using the Optimal Renewable Energy Build-Out (ORB) Model.

    Science.gov (United States)

    Wu, G. C.; Schlag, N. H.; Cameron, D. R.; Brand, E.; Crane, L.; Williams, J.; Price, S.; Hernandez, R. R.; Torn, M. S.

    2015-12-01

    There is a lack of understanding of the environmental impacts and economic costs of potential renewable energy (RE) siting decisions that achieve ambitious RE targets. Such analyses are needed to inform policy recommendations that minimize potential conflicts between conservation and RE development. We use the state of California's rapid development of utility-scale RE as a case study to examine how possible land use constraints impact the total electricity land area, areas with conservation value, water use, and electricity cost of ambitious RE portfolios. We developed the Optimal Renewable energy Build-out (ORB) model, and used it in conjunction with the Renewable Portfolio Standard (RPS) Calculator, a RE procurement and transmission planning tool used by utilities within California, to generate environmentally constrained renewable energy potential and assess the cost and siting-associated impacts of wind, solar photovoltaic, concentrating solar power (CSP), and geothermal technologies. We find that imposing environmental constraints on RE development achieves lower conservation impacts and results in development of more fragmented land areas. With increased RE and environmental exclusions, generation becomes more widely distributed across the state, which results in more development on herbaceous agricultural vegetation, grasslands, and developed & urban land cover types. We find land use efficiencies of RE technologies are relatively inelastic to changes in environmental constraints, suggesting that cost-effective substitutions that reduce environmental impact and achieve RE goals is possible under most scenarios and exclusion categories. At very high RE penetration that is limited to in-state development, cost effectiveness decreases substantially under the highest level of environmental constraint due to the over-reliance on solar technologies. This additional cost is removed once the in-state constraint is lifted, suggesting that minimizing both negative

  10. Portfolio Selection:Application on International Stock Portfolios

    OpenAIRE

    Turhan Korkmaz; Elif Birkan

    2008-01-01

    In this study, despite the increasing economic integration because of the globalization and technological improvement, whether emerging markets provides international diversification benefits to investors is examined. International diversified portfolios are created according to Markowitz’s Mean-Variance Model. These portfolios consist of equity indices returns of developed markets, emerging markets and SMEs (Small and Medium Sized Enterprises) in developed markets. Also, portfolios consistin...

  11. Portfolio Selection:Application on International Stock Portfolios

    OpenAIRE

    Turhan Korkmaz; Elif Birkan

    2010-01-01

    In this study, despite the increasing economic integration because of the globalization and technological improvement, whether emerging markets provides international diversification benefits to investors is examined. International diversified portfolios are created according to Markowitz’s Mean-Variance Model. These portfolios consist of equity indices returns of developed markets, emerging markets and SMEs (Small and Medium Sized Enterprises) in developed markets. Also, portfolios consistin...

  12. Financial Advice and Individual Investor Portfolio Performance

    NARCIS (Netherlands)

    Kramer, M.M.

    2012-01-01

    This paper investigates whether financial advisers add value to individual investors portfolio decisions by comparing portfolios of advised and self-directed (execution-only) Dutch individual investors. The results indicate significant differences in characteristics and portfolios between these inve

  13. Financial Advice and Individual Investor Portfolio Performance

    NARCIS (Netherlands)

    Kramer, M.M.

    2012-01-01

    This paper investigates whether financial advisers add value to individual investors portfolio decisions by comparing portfolios of advised and self-directed (execution-only) Dutch individual investors. The results indicate significant differences in characteristics and portfolios between these

  14. An unbalanced portfolio.

    Science.gov (United States)

    Federsel, Hans-Jurgen

    2009-06-01

    An excellent demonstration of how meaningful and valuable conferences devoted to the topic of project and portfolio management in the pharmaceutical industry can be, was given at an event organized in Barcelona, September 2008. Thus, over this 2-day meeting the delegates were updated on the state of the art in this wide-reaching area from speakers representing an array of companies; from small, relatively new players, via mid-sized, to established large and big pharmas. One common theme that emerged was the importance of assessing the value of drug projects as correctly as possible, especially under the current financial climate and the many challenges facing the industry. Furthermore, experiences from constructing portfolios with the aim to minimize risk and maximize return on investment were shared alongside mathematical approaches to obtain the data required for this purpose and accounts of the pleasures and hardships working in a global context and in partnership constellations.

  15. On portfolio risk diversification

    Science.gov (United States)

    Takada, Hellinton H.; Stern, Julio M.

    2017-06-01

    The first portfolio risk diversification strategy was put into practice by the All Weather fund in 1996. The idea of risk diversification is related to the risk contribution of each available asset class or investment factor to the total portfolio risk. The maximum diversification or the risk parity allocation is achieved when the set of risk contributions is given by a uniform distribution. Meucci (2009) introduced the maximization of the Rényi entropy as part of a leverage constrained optimization problem to achieve such diversified risk contributions when dealing with uncorrelated investment factors. A generalization of the risk parity is the risk budgeting when there is a prior for the distribution of the risk contributions. Our contribution is the generalization of the existent optimization frameworks to be able to solve the risk budgeting problem. In addition, our framework does not possess any leverage constraint.

  16. Public Pedagogical Portfolio

    DEFF Research Database (Denmark)

    Andersen, Shuang Ma

    This portfolio is a summary of my pedagogical training between 2010 and 2011 based on university adjunct education (DACIN Pædagogisk Grundkursus). Instead of completion of a pedagogical education, I will say it is a start / continue of the lifelong pedagogical mentality. The essential purpose...... in preparing this piece of work is to • profile myself as a teacher • through the portfolio writing, to develop my own understanding of teaching and to improve my own teaching • document pedagogical knowledge • document my own competence • analyze and relate pedagogical theory with practical teaching...... • formulate my own understanding of fundamental pedagogical view derived from both theoretical and practical education up to now (there might be change in the future) • create my own recipe for a good lecture • recommend a few teaching methods optimized for engineering students • identify my own SWOT...

  17. Strategic innovation portfolio management

    Directory of Open Access Journals (Sweden)

    Stanković Ljiljana

    2015-01-01

    Full Text Available In knowledge-based economy, strategic innovation portfolio management becomes more and more important and critical factor of enterprise's success. Value creation for all the participants in value chain is more successful if it is based on efficient resource allocation and improvement of innovation performances. Numerous researches have shown that companies with best position on the market found their competitiveness on efficient development and exploitation of innovations. In decision making process, enterprise's management is constantly faced with challenge to allocate resources and capabilities as efficiently as possible, in both short and long term. In this paper authors present preliminary results of realized empirical research related to strategic innovation portfolio management in ten chosen enterprises in Serbia. The structure of the paper includes the following parts: theoretical background, explanation of research purpose and methodology, discussion of the results and concluding remarks, including limitations and directions for further research.

  18. Deploying Renewables -- principles for effective policies

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2008-09-29

    Renewable energy can play a fundamental role in tackling climate change, environmental degradation and energy security. As these challenges have become ever more pressing, governments and markets are seeking innovative solutions. Yet, what are the key factors that will determine the success of renewable energy policies? How can current policies be improved to encourage greater deployment of renewables? What impact can more effective policies have on renewables' share in the future global energy mix and how soon? This publication addresses these questions. Responding to the Gleneagles G8 call for a clean and secure energy future, it highlights key policy tools to fast-track renewables into the mainstream. This analysis illustrates good practices by applying the combined metrics of effectiveness and efficiency to renewable energy policies in the electricity, heating and transport sectors. It highlights significant barriers to accelerating renewables penetration, and argues that the great potential of renewables can be exploited much more rapidly and to a much larger extent if good practices are adopted. Carefully designed policy frameworks, customised to support technologies at differing stages of maturity, will deliver a strong portfolio of renewable energy technologies. The document provides recommendations on key principles for policy design as a template for decision makers.

  19. Project Portfolio Management Applications Testing

    Directory of Open Access Journals (Sweden)

    Paul POCATILU

    2006-01-01

    Full Text Available Many IT companies are running project simultaneously. In order to achieve the best results, they have to group to the project in portfolios, and to use specific software that helps to manage them. Project portfolio management applications have a high degree of complexity and they are very important for the companies that are using it. This paper focuses on some characteristics of the testing process for project portfolio management applications

  20. Specific patterns in portfolio analysis

    Directory of Open Access Journals (Sweden)

    Gabriela Victoria ANGHELACHE

    2013-11-01

    Full Text Available In the mid-twentieth century, under an unprecedented growth of the business of trading in securities, the need to provide a modern framework for assessing the performance of portfolios of financial instruments was felt. To that effect, it is noted that over this period, more and more economists have attempted to develop statistical mathematical models that ensure the evaluation of profitability and portfolio risk securities. These models are considered to be part of "the modern portfolio theory".

  1. Personalising learning through portfolios

    OpenAIRE

    Baggio, Rosangela

    2008-01-01

    This article presents the portfolio use from a pedagogical perspective and it underlines the opportunity for reflection on learning offered by this instrument. It also suggests some steps that can be followed in order to help students become more effective learners. Este artículo presenta la utilización del portafolio desde una perspectiva pedagógica, subrayando la oportunidad de reflexionar sobre el aprendizaje que ofrece esta herramienta. Además sugiere algunos pasos que se pued...

  2. Principal Portfolios: Recasting the Efficient Frontier

    OpenAIRE

    M. Hossein Partovi; Michael Caputo

    2004-01-01

    A new method of analyzing the efficient portfolio problem under the assumption that short sales are allowed is presented. It is based on the remarkable finding that the original asset set can be reorganized as a set of uncorrelated portfolios, here named principal portfolios. The original problem of portfolio selection from the existing, correlated assets is thereby traded for the reduced problem of choosing from a set of uncorrelated portfolios. These portfolios constitute a new investment e...

  3. Regional allocation of biomass to U.S. energy demands under a portfolio of policy scenarios.

    Science.gov (United States)

    Mullins, Kimberley A; Venkatesh, Aranya; Nagengast, Amy L; Kocoloski, Matt

    2014-01-01

    The potential for widespread use of domestically available energy resources, in conjunction with climate change concerns, suggest that biomass may be an essential component of U.S. energy systems in the near future. Cellulosic biomass in particular is anticipated to be used in increasing quantities because of policy efforts, such as federal renewable fuel standards and state renewable portfolio standards. Unfortunately, these independently designed biomass policies do not account for the fact that cellulosic biomass can equally be used for different, competing energy demands. An integrated assessment of multiple feedstocks, energy demands, and system costs is critical for making optimal decisions about a unified biomass energy strategy. This study develops a spatially explicit, best-use framework to optimally allocate cellulosic biomass feedstocks to energy demands in transportation, electricity, and residential heating sectors, while minimizing total system costs and tracking greenhouse gas emissions. Comparing biomass usage across three climate policy scenarios suggests that biomass used for space heating is a low cost emissions reduction option, while biomass for liquid fuel or for electricity becomes attractive only as emissions reduction targets or carbon prices increase. Regardless of the policy approach, study results make a strong case for national and regional coordination in policy design and compliance pathways.

  4. Renewable energy.

    Science.gov (United States)

    Destouni, Georgia; Frank, Harry

    2010-01-01

    The Energy Committee of the Royal Swedish Academy of Sciences has in a series of projects gathered information and knowledge on renewable energy from various sources, both within and outside the academic world. In this article, we synthesize and summarize some of the main points on renewable energy from the various Energy Committee projects and the Committee's Energy 2050 symposium, regarding energy from water and wind, bioenergy, and solar energy. We further summarize the Energy Committee's scenario estimates of future renewable energy contributions to the global energy system, and other presentations given at the Energy 2050 symposium. In general, international coordination and investment in energy research and development is crucial to enable future reliance on renewable energy sources with minimal fossil fuel use.

  5. The Portfolio Organizer: Succeeding with Portfolios in Your Classroom.

    Science.gov (United States)

    Rolheiser, Carol; Bower, Barbara; Stevahn, Laurie

    This book provides educators with a flexible framework to guide decision making for effective and efficient use of portfolios in classrooms and schools. It targets major categories of decision making, as reflected in the first 10 chapters: (1) "Determining the Basics of Student Portfolios"; (2) "Selecting Categories for Entries"; (3) "Identifying…

  6. The Role of Policies in Supporting the Diffusion of Solar Photovoltaic Systems: Experiences with Ontario, Canada’s Renewable Energy Standard Offer Program

    Directory of Open Access Journals (Sweden)

    Chris Adachi

    2009-12-01

    Full Text Available Traditionally, high initial capital costs and lengthy payback periods have been identified as the most significant barriers that limit the diffusion of solar photovoltaic (PV systems. In November, 2006, the Ontario Power Authority (OPA introduced the Renewable Energy Standard Offer Program (RESOP, offering owners of solar PV systems with a generation capacity under 10 MW a 20 year contract to sell electricity back to the grid at a guaranteed rate of CAD $0.42/kWh. While it is the intent of incentive programs such as the RESOP to begin to lower financial barriers in order to increase the uptake of solar PV systems, there is no guarantee that the level of participation will in fact rise. The "on-the-ground" manner in which consumers interact with such an incentive program ultimately determines its effectiveness. This paper analyzes the relationship between the RESOP and solar PV system consumers. Experiences of current RESOP participants are presented, wherein the factors that are either hindering or promoting utilization of the RESOP and the adoption of solar PV systems are identified.

  7. Use of Criteria in Assessing Teaching Portfolios: Judgemental Practices in Summative Evaluation

    Science.gov (United States)

    Smith, Kari; Tillema, Harm

    2007-01-01

    How is the quality of teaching portfolios being assessed in summative assessment contexts? This question is of special importance in the growing debate on standards and criteria in assessment. In our study we looked for contexts in which portfolios are used for summative assessment purposes and gauge the issues raised by assessors with respect to…

  8. Federal policies for renewable electricity: Impacts and interactions

    Energy Technology Data Exchange (ETDEWEB)

    Palmer, Karen, E-mail: Palmer@rff.org [Resources for the Future, 1616 P St, NW, Washington, DC 20036 (United States); Paul, Anthony, E-mail: Paul@rff.org [Resources for the Future, 1616 P St, NW, Washington, DC 20036 (United States); Woerman, Matt, E-mail: Woerman@rff.org [Resources for the Future, 1616 P St, NW, Washington, DC 20036 (United States); Steinberg, Daniel C., E-mail: daniel.steinberg@nrel.gov [National Renewable Energy Laboratory, 1617 Cole Blvd., Golden, CO 80401 (United States)

    2011-07-15

    Three types of policies that are prominent in the federal debate over addressing greenhouse gas emissions in the United States are a cap-and-trade program (CTP) on emissions, a renewable portfolio standard (RPS) for electricity production, and tax credits for renewable electricity producers. Each of these policies would have different consequences, and combinations of these policies could induce interactions yielding a whole that is not the sum of its parts. This paper utilizes the Haiku electricity market model to evaluate the economic and technology outcomes, climate benefits, and cost-effectiveness of three such policies and all possible combinations of the policies. A central finding is that the carbon dioxide (CO{sub 2}) emissions reductions from CTP can be significantly greater than those from the other policies, even for similar levels of renewable electricity production, since of the three policies, CTP is the only one that distinguishes electricity generated by coal and natural gas. It follows that CTP is the most cost-effective among these approaches at reducing CO{sub 2} emissions. An alternative compliance payment mechanism in an RPS program could substantially affect renewables penetration, and the electricity price effects of the policies hinge partly on the regulatory structure of electricity markets, which varies across the country. - Research Highlights: > Climate benefits of cap-and-trade are greater than of tax credits or RPS. > Cap-and-trade is more cost-effective at reducing emissions than tax credits or RPS. > Tax credits are a subsidy to production that raises electricity consumption. > Alternative compliance payment can substantially affect the outcome of RPS.

  9. Academic Misconduct in Teaching Portfolios

    Science.gov (United States)

    Erikson, Martin G.; Erlandson, Peter; Erikson, Malgorzata

    2015-01-01

    Within academia, clear and standardised communication is vital. From this point of departure, we discuss the trustworthiness of teaching portfolios when used in assessment. Here, misconduct and fraud are discussed in terms of fabrication, falsification, and plagiarism, following the literature on research fraud. We argue that the portfolio's…

  10. 75 FR 81405 - Portfolio Holdings

    Science.gov (United States)

    2010-12-28

    ... portfolio parameters in response to conditions in the market. Related to the process of adjusting the..., Office of the General Counsel, (202) 414-3798, or Valerie Smith, Office of Policy Analysis and Research... to provide a liquid secondary market through securitization activities, the portfolio holdings...

  11. Performance Evaluation of Constrained Portfolios

    NARCIS (Netherlands)

    I. Pouchkarev (Igor)

    2005-01-01

    textabstractConventional performance evaluation methods strongly differentiate between the universe which is used for portfolio construction, and the universe which is used for the performance evaluation. Whilst by composing the portfolio we consider the complete opportunity set, in the last case we

  12. Do Portfolios Have a Future?

    Science.gov (United States)

    Driessen, Erik

    2017-01-01

    While portfolios have seen an unprecedented surge in popularity, they have also become the subject of controversy: learners often perceive little gain from writing reflections as part of their portfolios; scholars question the ethics of such obligatory reflection; and students, residents, teachers and scholars alike condemn the bureaucracy…

  13. Essays on Rational Portfolio Theory

    DEFF Research Database (Denmark)

    Nielsen, Simon Ellersgaard

    market prices, we findonly a very modest improvement in portfolio wealth over the corresponding strategy whichonly trades in bonds and stocks. Optimal Hedge Tracking Portfolios in a Limit Order Book. In this paper we developa control theoretic solution to the manner in which a portfolio manager optimally......This dissertation is comprised of five research papers written during the period January 2013 -December 2015. Their abstracts are: The Fundamental Theorem of Derivative Trading. When estimated volatilities are not inperfect agreement with reality, delta hedged option portfolios will incur a non......’s theory of optimal portfolio selection for wealth maximisingagents. In this paper we present a systematic analysis of the optimal asset allocation in aderivative-free market for the Heston model, the 3/2 model, and a Fong Vasicek type model.Under the assumption that the market price of risk...

  14. Managing the New Product Portfolio

    DEFF Research Database (Denmark)

    Larsson, Flemming

    2008-01-01

    a company choose to pursue in order to maximize the business results? Portfolio management is an essential means to accommodate this paradox. The three major contributions documented in this dissertation are a reference model for portfolio management, and a mindset together with three supporting tools....... The research project has partially been carried out at the Massachusetts Institute of Technology (MIT). The results of the dissertation build on research literature and empirical studies. All contributions have been confronted with industrial portfolio management practices or industry professional’s judgement....... The contributions encourage an improved understanding of the portfolio management concept and support industry professionals in their efforts to compose and continuously maintain a commercially strong product development portfolio....

  15. Analysis Of Dynamic Portfolio Allocation Of Indonesian LQ45 During 2005 – 2011 Following The Markowitz Theowry

    Directory of Open Access Journals (Sweden)

    Agustini Hamid

    2016-09-01

    Full Text Available The research observed that equity portfolio and investment managers were facing challenges in determining the optimum portfolio, especially during the turbulent times. As a result, they needed to implement portfolio management strategies to overcome the risk associated with stock return volatility in turbulence periods. This research focused on selecting stocks from the LQ-45 index during 2005-2011 using The Markowitz theory combining the Solver Linear Programming. The portfolio selection method which has been introduced by Markowitz (1952 used variance or standard deviation as a risk measurement. The result of this research proves that the composition of the portfolio is not the same in the different period. In the bearish period, the composition of the optimum portfolio is dominated by the banking sector and manufacture sector. In the bullish period, the optimum portfolio is dominated by the commodity stocks.

  16. Biocatalytic portfolio of Basidiomycota.

    Science.gov (United States)

    Schmidt-Dannert, Claudia

    2016-04-01

    Basidiomycota fungi have received little attention for applications in biocatalysis and biotechnology and remain greatly understudied despite their importance for carbon recycling, ecosystem functioning and medicinal properties. The steady influx of genome data has facilitated detailed studies aimed at understanding the evolution and function of fungal lignocellulose degradation. These studies and recent explorations into the secondary metabolomes have uncovered large portfolios of enzymes useful for biocatalysis and biosynthesis. This review will provide an overview of the biocatalytic repertoires of Basidiomycota characterized to date with the hope of motivation more research into the chemical toolkits of this diverse group of fungi.

  17. Portfolio, refleksion og feedback

    Directory of Open Access Journals (Sweden)

    Ane Qvortrup

    2017-08-01

    Full Text Available Denne leder definerer indledningsvist begrebet portfolio og gør rede for anvendelsesmuligheder i en uddannelseskontekst. Dernæst behandles portfoliometodens kvalitet og effekt for læring og undervisning og de centrale begreber refleksion, progression og feedback præsenteres og diskuteres. Herefter listes teknologier, der understøtter portfolioens opbygning og brug og implikationerne forbundet med valg af teknologi diskuteres kort. Afslutningsvist præsenteres temanummerets 5 artikler, der endvidere er inddraget undervejs i lederen som eksemplificering af de præsenterede begreber og teknologier.

  18. IT Portfolio Management

    DEFF Research Database (Denmark)

    Hansen, Lars Kristian; Kræmmergaard, Pernille

    2012-01-01

    As public organizations increasingly rely on IT-enabled development to provide faster cycle times and better services, IT Project Portfolio Management (IT PPM) has become a high priority issue. This research adopts engaged scholarship to investigate IT PPM practices within a large local government...... information about internal recourses, (4) Lack of operational goals to hold IT projects accountable, (5) No account of actual IT project costs. These results may be used to inform further research into IT PPM and to help managers improve IT PPM practices in public organizations in their effort of increase...

  19. Renewable generation technology choice and policies in a competitive electricity supply industry

    Science.gov (United States)

    Sarkar, Ashok

    portfolio standards (RPS), and enhanced research and development (R&D). RPS would best ensure an appropriate share of renewables, whereas SOsb2 emissions caps would not support a shift to renewables in an era of inexpensive natural gas. The effectiveness of the policies are dependent on the market structure. If market power exists, the analyses indicate that generally higher levels of intervention would be necessary to achieve a shift to renewables.

  20. Optimizing the U.S. Electric System with a High Penetration of Renewables

    Science.gov (United States)

    Corcoran, B. A.; Jacobson, M. Z.

    2012-12-01

    linear program solves for the least-cost organizational structure and system (generator, transmission, storage, and reserve requirements) for a highly renewable U.S. electric grid. The analysis will 1) examine a highly renewable 2006 electric system, and 2) create a "roadmap" from the existing 2006 system to a highly renewable system in 2030, accounting for projected price and demand changes and generator retirements based on age and environmental regulations. Ideally, results from this study will offer insight for a federal renewable energy policy (such as a renewable portfolio standard) and how to best organize regions for transmission planning.

  1. 75 FR 81519 - Confirmation, Portfolio Reconciliation, and Portfolio Compression Requirements for Swap Dealers...

    Science.gov (United States)

    2010-12-28

    ... portfolio compression. Federal Reserve Bank of New York Staff Report No. 424: ``Policy Perspectives on OTC... COMMISSION 17 CFR Part 23 RIN 3038-AC96 Confirmation, Portfolio Reconciliation, and Portfolio Compression... requirements for swap confirmation, portfolio reconciliation, and portfolio compression for swap dealers...

  2. Electronic Portfolios in a Teacher Education Program

    Science.gov (United States)

    Wray, Susan

    2007-01-01

    While much of the research literature focuses on the traditional paper and pencil format of teaching portfolios, the increased integration of electronic technology into teacher preparation curricula has propelled the use of electronic portfolios for a range of evaluative purposes. Electronic portfolios, or e-portfolios as they are commonly…

  3. Teacher Portfolios: Displaying the Art of Teaching

    Science.gov (United States)

    Reese, Susan

    2004-01-01

    A portfolio can convey a teacher's beliefs, knowledge and skills. An artist uses a portfolio to display artistic talent, and a teacher can use his or her portfolio to display teaching talent and teaching style. A teacher's portfolio may be used to obtain new employment, to document teaching accomplishments in order to receive a promotion or tenure…

  4. portfolio optimization based on nonparametric estimation methods

    Directory of Open Access Journals (Sweden)

    mahsa ghandehari

    2017-03-01

    Full Text Available One of the major issues investors are facing with in capital markets is decision making about select an appropriate stock exchange for investing and selecting an optimal portfolio. This process is done through the risk and expected return assessment. On the other hand in portfolio selection problem if the assets expected returns are normally distributed, variance and standard deviation are used as a risk measure. But, the expected returns on assets are not necessarily normal and sometimes have dramatic differences from normal distribution. This paper with the introduction of conditional value at risk ( CVaR, as a measure of risk in a nonparametric framework, for a given expected return, offers the optimal portfolio and this method is compared with the linear programming method. The data used in this study consists of monthly returns of 15 companies selected from the top 50 companies in Tehran Stock Exchange during the winter of 1392 which is considered from April of 1388 to June of 1393. The results of this study show the superiority of nonparametric method over the linear programming method and the nonparametric method is much faster than the linear programming method.

  5. Regularizing portfolio optimization

    Science.gov (United States)

    Still, Susanne; Kondor, Imre

    2010-07-01

    The optimization of large portfolios displays an inherent instability due to estimation error. This poses a fundamental problem, because solutions that are not stable under sample fluctuations may look optimal for a given sample, but are, in effect, very far from optimal with respect to the average risk. In this paper, we approach the problem from the point of view of statistical learning theory. The occurrence of the instability is intimately related to over-fitting, which can be avoided using known regularization methods. We show how regularized portfolio optimization with the expected shortfall as a risk measure is related to support vector regression. The budget constraint dictates a modification. We present the resulting optimization problem and discuss the solution. The L2 norm of the weight vector is used as a regularizer, which corresponds to a diversification 'pressure'. This means that diversification, besides counteracting downward fluctuations in some assets by upward fluctuations in others, is also crucial because it improves the stability of the solution. The approach we provide here allows for the simultaneous treatment of optimization and diversification in one framework that enables the investor to trade off between the two, depending on the size of the available dataset.

  6. The Maslowian Portfolio Theory Versus the Pyramid Portfolio

    Directory of Open Access Journals (Sweden)

    Majewski Sebastian

    2014-06-01

    Full Text Available This article refers to De Brouwer’s modification of portfolio selection from 2009. He modified the existing portfolio’s theories so that they could take into account the Maslov’s hierarchy of needs. This proposal could be also an alternative concept to the behavioural portfolio theory. Another theoretical concept which includes not only the hierarchy of needs but the pyramid portfolio is presented in this paper as well. The base point in this case is Markowitz’s model and the safety-first criterion by Roy. Such a construction should be a starting point for building an application in this field.

  7. The need and necessity of an EU-wide renewable energy target for 2030. Discussion paper

    Energy Technology Data Exchange (ETDEWEB)

    De Vos, R.; Winkel, T.; Klessmann, C. [Ecofys Netherlands, Utrecht (Netherlands)

    2013-04-15

    In 2020, some leading EU energy and climate policies will expire. At present, the EU and its Member States are discussing the design of a post-2020 policy portfolio. In a discussion paper commissioned by the European Copper Institute, Ecofys shows that an EU-wide renewable energy target is a necessary part of a 2030 portfolio. The paper analyses, in detail, two realistic policy portfolio options for renewable energy, target-setting in particular: one 'decarbonisation-only' EU target with voluntary national targets for renewable energy, and one that includes an EU-wide renewable energy target, broken down into binding national targets. The analysis shows that the latter option, when supported by appropriate and improved EU and Member States' policies and measures, is most suitable in facilitating a European low-carbon economy.

  8. The need and necessity of an EU-wide renewable energy target for 2030. Discussion paper

    Energy Technology Data Exchange (ETDEWEB)

    De Vos, R.; Winkel, T.; Klessmann, C. [Ecofys Netherlands, Utrecht (Netherlands)

    2013-04-15

    In 2020, some leading EU energy and climate policies will expire. At present, the EU and its Member States are discussing the design of a post-2020 policy portfolio. In a discussion paper commissioned by the European Copper Institute, Ecofys shows that an EU-wide renewable energy target is a necessary part of a 2030 portfolio. The paper analyses, in detail, two realistic policy portfolio options for renewable energy, target-setting in particular: one 'decarbonisation-only' EU target with voluntary national targets for renewable energy, and one that includes an EU-wide renewable energy target, broken down into binding national targets. The analysis shows that the latter option, when supported by appropriate and improved EU and Member States' policies and measures, is most suitable in facilitating a European low-carbon economy.

  9. Management Strategy Of Bank Credit Portfolio

    OpenAIRE

    Nenad Vunjak; Tamara Antonijevic

    2008-01-01

    Credit portfolio includes a credit group that is structured by bank management team according to credit users. Realizing the key targets of credit portfolio management imply the analysis of: (1) volume of credits, (2) portfolio structure, (3) credit services, (4) payment of credits, (5) credit price (interest rate), (6) realized profit. The credit portfolio modeling is the top management competence. Performance of credit portfolio depends from expect risks and returns estimate, having insight...

  10. Optimal Portfolios in Wishart Models and Effects of Discrete Rebalancing on Portfolio Distribution and Strategy Selection

    OpenAIRE

    Li, Zejing

    2012-01-01

    This dissertation is mainly devoted to the research of two problems - the continuous-time portfolio optimization in different Wishart models and the effects of discrete rebalancing on portfolio wealth distribution and optimal portfolio strategy.

  11. Renewable Energy

    Science.gov (United States)

    Boyle, Godfrey

    2004-05-01

    Stimulated by recent technological developments and increasing concern over the sustainability and environmental impact of conventional fuel usage, the prospect of producing clean, sustainable power in substantial quantities from renewable energy sources arouses interest around the world. This book provides a comprehensive overview of the principal types of renewable energy--including solar, thermal, photovoltaics, bioenergy, hydro, tidal, wind, wave, and geothermal. In addition, it explains the underlying physical and technological principles of renewable energy and examines the environmental impact and prospects of different energy sources. With more than 350 detailed illustrations, more than 50 tables of data, and a wide range of case studies, Renewable Energy, 2/e is an ideal choice for undergraduate courses in energy, sustainable development, and environmental science. New to the Second Edition ·Full-color design ·Updated to reflect developments in technology, policy, attitides ·Complemented by Energy Systems and Sustainability edited by Godfrey Boyle, Bob Everett and Janet Ramage, all of the Open University, U.K.

  12. Experience and practice of California Renewable Energy Development%美国加州可再生能源发展经验与实践

    Institute of Scientific and Technical Information of China (English)

    张钦; 蒋莉萍

    2012-01-01

    California renewable energy development is successful example worldwide. Based on the analysis of California energy and renewable energy development condition, relative experiences of California Renewable Portfolio Standard and distributed generation metering and billing are elaborated. Furthermore, California renewable energy research and practice programs are introduced and Sacramental Municipal Utility District is set as an example to introduce the development and practice on promoting renewable energy development. Finally, several suggestions are put forward, in order to provide insights to China's renewable energy development.%在分析加州能源与可再生能源发展情况的基础上,阐述了加州可再生能源配额制与分布式发电电量计量与结算的相关经验,介绍了加州可再生能源研发与实践项目,并以萨克拉门托市电力公司为例介绍了其在促进可再生能源发展方面的经验。最后提出了相关政策建议。

  13. PROFESSIONAL DEVELOPMENT THROUGH TEACHING PORTFOLIO

    Directory of Open Access Journals (Sweden)

    Sri Widayati

    2016-02-01

    Full Text Available This article argues that teachers as professionals should be aware of the importance of profes­sional development since professional development is a key tool that keeps teachers abreast of current issues in education, helps them implement innovation, and refines their practice. Reflective practice, one of which is compiling teaching portfolio, could be the basis for professional development. By as­sembling the teaching portfolio teachers can reflect on their past and plan for their future action. Teach­ing portfolio could be assembled for the purpose of promotion or self assessment.

  14. Portfolio optimization and performance evaluation

    DEFF Research Database (Denmark)

    Juhl, Hans Jørn; Christensen, Michael

    2013-01-01

    Based on an exclusive business-to-business database comprising nearly 1,000 customers, the applicability of portfolio analysis is documented, and it is examined how such an optimization analysis can be used to explore the growth potential of a company. As opposed to any previous analyses, optimal...... customer portfolios are determined, and it is shown how marketing decision-makers can use this information in their marketing strategies to optimize the revenue growth of the company. Finally, our analysis is the first analysis which applies portfolio based methods to measure customer performance......, and it is shown how these performance measures complement the optimization analysis....

  15. Risk minimization through portfolio replication

    Science.gov (United States)

    Ciliberti, S.; Mã©Zard, M.

    2007-05-01

    We use a replica approach to deal with portfolio optimization problems. A given risk measure is minimized using empirical estimates of asset values correlations. We study the phase transition which happens when the time series is too short with respect to the size of the portfolio. We also study the noise sensitivity of portfolio allocation when this transition is approached. We consider explicitely the cases where the absolute deviation and the conditional value-at-risk are chosen as a risk measure. We show how the replica method can study a wide range of risk measures, and deal with various types of time series correlations, including realistic ones with volatility clustering.

  16. Parametric Portfolio Selection: Evaluating and Comparing to Markowitz Portfolios

    Directory of Open Access Journals (Sweden)

    Marcelo C. Medeiros

    2014-10-01

    Full Text Available In this paper we exploit the parametric portfolio optimization in the Brazilian market. Our data consists of monthly returns of 306 Brazilian stocks in the period between 2001 and 2013. We tested the model both in and out of sample and compared the results with the value and equal weighted portfolios and with a Markowitz based portfolio. We performed statistical inference in the parametric optimization using bootstrap techniques in order to build the parameters empirical distributions. Our results showed that the parametric optimization is a very efficient technique out of sample. It consistently showed superior results when compared with the VW, EW and Markowitz portfolios even when transaction costs were included. Finally, we consider the parametric approach to be very flexible to the inclusion of constraints in weights, transaction costs and listing and delisting of stocks.

  17. Renewable Electricity Futures: Operational Analysis of the Western Interconnection at Very High Renewable Penetrations

    Energy Technology Data Exchange (ETDEWEB)

    Brinkman, Gregory [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2015-09-01

    The goal of this work was to perform a detailed, sub-hourly analysis of very high penetration scenarios for a single interconnection (the Western Interconnection). The scenarios analyzed for this study included a variety of generation infrastructure buildouts and power system operational assumptions, with three different portfolios of renewable generators. The primary conclusion of this study is that sub-hourly operation of the grid is possible with renewable generation levels between 80% and 90%. Dynamic studies will need to be done to understand any impacts on reliability during contingencies and transient events.

  18. Application of Markowitz Portfolio Theory by Building Optimal Portfolio on the US Stock Market

    OpenAIRE

    Širůček, Martin; Křen, Lukáš

    2015-01-01

    ŠIRŮČEK MARTIN, KŘEN LUKÁŠ. 2015. Application of Markowitz Portfolio Theory by Building Optimal Portfolio on the US Stock Market. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 63(4): 1375–1386. This paper is focused on building investment portfolios by using the Markowitz Portfolio Theory (MPT). Derivation based on the Capital Asset Pricing Model (CAPM) is used to calculate the weights of individual securities in portfolios. The calculated portfolios include a po...

  19. Renewable source controls for grid stability.

    Energy Technology Data Exchange (ETDEWEB)

    Byrne, Raymond Harry; Elliott, Ryan Thomas; Neely, Jason C.; Silva Monroy, Cesar Augusto; Schoenwald, David Alan; Grant, Lisa

    2012-12-01

    The goal of this study was to evaluate the small signal and transient stability of the Western Electric- ity Coordinating Council (WECC) under high penetrations of renewable energy, and to identify control technologies that would improve the system performance. The WECC is the regional entity responsible for coordinating and promoting bulk electric system reliability in the Western Interconnection. Transient stability is the ability of the power system to maintain synchronism after a large disturbance while small signal stability is the ability of the power system to maintain synchronism after a small disturbance. Tran- sient stability analysis usually focuses on the relative rotor angle between synchronous machines compared to some stability margin. For this study we employed generator speed relative to system speed as a metric for assessing transient stability. In addition, we evaluated the system transient response using the system frequency nadir, which provides an assessment of the adequacy of the primary frequency control reserves. Small signal stability analysis typically identi es the eigenvalues or modes of the system in response to a disturbance. For this study we developed mode shape maps for the di erent scenarios. Prony analysis was applied to generator speed after a 1.4 GW, 0.5 second, brake insertion at various locations. Six di erent WECC base cases were analyzed, including the 2022 light spring case which meets the renewable portfolio standards. Because of the di culty in identifying the cause and e ect relationship in large power system models with di erent scenarios, several simulations were run on a 7-bus, 5-generator system to isolate the e ects of di erent con gurations. Based on the results of the study, for a large power system like the WECC, incorporating frequency droop into wind/solar systems provides a larger bene t to system transient response than replacing the lost inertia with synthetic inertia. From a small signal stability

  20. Benefits, Barriers, and Opportunities for Renewable Energy Outreach in Extension: A Mixed-Methods Needs Assessment

    OpenAIRE

    Thomas, Blake H.

    2016-01-01

    A large-scale transition to renewable energy sources will become increasingly appealing as the issues of federal regulation, climate change, and decreased fossil fuel energy return on energy investment become more prevalent. Although renewable resources remain a small portion of the nation’s and Utah’s energy portfolio mix, current power purchase agreements indicate an impending boom. Cooperative Extension should play an integral role in the transition to renewable resources on the national, ...

  1. Time consistent portfolio management

    CERN Document Server

    Ekeland, Ivar; Pirvu, Traian A

    2010-01-01

    This paper considers the portfolio management problem of optimal investment, consumption and life insurance. We are concerned with time inconsistency of optimal strategies. Natural assumptions, like different discount rates for consumption and life insurance, or a time varying aggregation rate lead to time inconsistency. As a consequence, the optimal strategies are not implementable. We focus on hyperbolic discounting, which has received much attention lately, especially in the area of behavioural finance. Following [10], we consider the resulting problem as a leader-follower game between successive selves, each of whom can commit for an infinitesimally small amount of time. We then define policies as subgame perfect equilibrium strategies. Policies are characterized by an integral equation which is shown to have a solution. Although we work on CRRA preference paradigm, our results can be extended for more general preferences as long as the equations admit solutions. Numerical simulations reveal that for the ...

  2. The Discussion on Teaching Portfolio

    Institute of Scientific and Technical Information of China (English)

    Fan Hua

    2016-01-01

    The basic information of Teaching Portfolio has been listed in this article, including the background, history, definitions,structure, contents, significance features, types. And the studies abroad and home has also been displayed in detail.

  3. E3 Portfolio Review Database

    Data.gov (United States)

    US Agency for International Development — The E3 Portfolio Review Database houses operational and performance data for all activities that the Bureau funds and/or manages. Activity-level data is collected by...

  4. Simple Algorithm Portfolio for SAT

    CERN Document Server

    Nikolic, Mladen; Janicic, Predrag

    2011-01-01

    The importance of algorithm portfolio techniques for SAT has long been noted, and a number of very successful systems have been devised, including the most successful one --- SATzilla. However, all these systems are quite complex (to understand, reimplement, or modify). In this paper we propose a new algorithm portfolio for SAT that is extremely simple, but in the same time so efficient that it outperforms SATzilla. For a new SAT instance to be solved, our portfolio finds its k-nearest neighbors from the training set and invokes a solver that performs the best at those instances. The main distinguishing feature of our algorithm portfolio is the locality of the selection procedure --- the selection of a SAT solver is based only on few instances similar to the input one.

  5. Feature selection for portfolio optimization

    DEFF Research Database (Denmark)

    Bjerring, Thomas Trier; Ross, Omri; Weissensteiner, Alex

    2016-01-01

    Most portfolio selection rules based on the sample mean and covariance matrix perform poorly out-of-sample. Moreover, there is a growing body of evidence that such optimization rules are not able to beat simple rules of thumb, such as 1/N. Parameter uncertainty has been identified as one major...... reason for these findings. A strand of literature addresses this problem by improving the parameter estimation and/or by relying on more robust portfolio selection methods. Independent of the chosen portfolio selection rule, we propose using feature selection first in order to reduce the asset menu....... While most of the diversification benefits are preserved, the parameter estimation problem is alleviated. We conduct out-of-sample back-tests to show that in most cases different well-established portfolio selection rules applied on the reduced asset universe are able to improve alpha relative...

  6. Robust Portfolio Optimization Using Pseudodistances.

    Science.gov (United States)

    Toma, Aida; Leoni-Aubin, Samuela

    2015-01-01

    The presence of outliers in financial asset returns is a frequently occurring phenomenon which may lead to unreliable mean-variance optimized portfolios. This fact is due to the unbounded influence that outliers can have on the mean returns and covariance estimators that are inputs in the optimization procedure. In this paper we present robust estimators of mean and covariance matrix obtained by minimizing an empirical version of a pseudodistance between the assumed model and the true model underlying the data. We prove and discuss theoretical properties of these estimators, such as affine equivariance, B-robustness, asymptotic normality and asymptotic relative efficiency. These estimators can be easily used in place of the classical estimators, thereby providing robust optimized portfolios. A Monte Carlo simulation study and applications to real data show the advantages of the proposed approach. We study both in-sample and out-of-sample performance of the proposed robust portfolios comparing them with some other portfolios known in literature.

  7. Feature selection for portfolio optimization

    DEFF Research Database (Denmark)

    Bjerring, Thomas Trier; Ross, Omri; Weissensteiner, Alex

    2016-01-01

    Most portfolio selection rules based on the sample mean and covariance matrix perform poorly out-of-sample. Moreover, there is a growing body of evidence that such optimization rules are not able to beat simple rules of thumb, such as 1/N. Parameter uncertainty has been identified as one major...... reason for these findings. A strand of literature addresses this problem by improving the parameter estimation and/or by relying on more robust portfolio selection methods. Independent of the chosen portfolio selection rule, we propose using feature selection first in order to reduce the asset menu....... While most of the diversification benefits are preserved, the parameter estimation problem is alleviated. We conduct out-of-sample back-tests to show that in most cases different well-established portfolio selection rules applied on the reduced asset universe are able to improve alpha relative...

  8. Flyfishing, Portfolios, and Authentic Writing.

    Science.gov (United States)

    Smede, Shelly D.

    1995-01-01

    Describes how one English teacher used experience as a professional writer to change how she approached writing instruction in a seventh-grade English class. Outlines a method centered on extensive revision and the submission of writing portfolios. (HB)

  9. Mean-variance inefficiency of CRRA and CARA utility functions for portfolio selection in defined contribution pension schemes

    OpenAIRE

    Elena Vigna

    2009-01-01

    We consider the portfolio selection problem in the accumulation phase of a defined contribution pension scheme in continuous time, and compare the mean-variance and the expected utility maximization approaches. Using the embedding technique pioneered by Zhou and Li (2000) we first find the efficient frontier of portfolios in the Black-Scholes financial market. Then, using standard stochastic optimal control we find the optimal portfolios derived via expected utility for popular utility functi...

  10. Portfolio management for product development

    DEFF Research Database (Denmark)

    Larsson, Flemming

    A company seek to improve the understanding of the organization’s approach to portfolio management and the inherited activities and work patterns. In addition, the company wants to obtain a better picture of challenges within the area as well as concrete suggestions for improvement. The objectives...... of this empirical study are: - Capture and describe the current portfolio management process, - Identify challenges within the proces, - Develop suggestions for improvement....

  11. Identifying Small Mean Reverting Portfolios

    OpenAIRE

    d'Aspremont, Alexandre

    2007-01-01

    Given multivariate time series, we study the problem of forming portfolios with maximum mean reversion while constraining the number of assets in these portfolios. We show that it can be formulated as a sparse canonical correlation analysis and study various algorithms to solve the corresponding sparse generalized eigenvalue problems. After discussing penalized parameter estimation procedures, we study the sparsity versus predictability tradeoff and the impact of predictability in various mar...

  12. Portfolio management for product development

    DEFF Research Database (Denmark)

    Larsson, Flemming

    A company seek to improve the understanding of the organization’s approach to portfolio management and the inherited activities and work patterns. In addition, the company wants to obtain a better picture of challenges within the area as well as concrete suggestions for improvement. The objectives...... of this empirical study are: - Capture and describe the current portfolio management process, - Identify challenges within the proces, - Develop suggestions for improvement....

  13. An alternative computational method for finding the minimum-premium insurance portfolio

    Science.gov (United States)

    Katsikis, Vasilios N.

    2016-06-01

    In this article, we design a computational method, which differs from the standard linear programming techniques, for computing the minimum-premium insurance portfolio. The corresponding algorithm as well as a Matlab implementation are provided.

  14. Different Variants of Fundamental Portfolio

    Directory of Open Access Journals (Sweden)

    Tarczyński Waldemar

    2014-06-01

    Full Text Available The paper proposes the fundamental portfolio of securities. This portfolio is an alternative for the classic Markowitz model, which combines fundamental analysis with portfolio analysis. The method’s main idea is based on the use of the TMAI1 synthetic measure and, in limiting conditions, the use of risk and the portfolio’s rate of return in the objective function. Different variants of fundamental portfolio have been considered under an empirical study. The effectiveness of the proposed solutions has been related to the classic portfolio constructed with the help of the Markowitz model and the WIG20 market index’s rate of return. All portfolios were constructed with data on rates of return for 2005. Their effectiveness in 2006- 2013 was then evaluated. The studied period comprises the end of the bull market, the 2007-2009 crisis, the 2010 bull market and the 2011 crisis. This allows for the evaluation of the solutions’ flexibility in various extreme situations. For the construction of the fundamental portfolio’s objective function and the TMAI, the study made use of financial and economic data on selected indicators retrieved from Notoria Serwis for 2005.

  15. Evaluation of Energy Policy Instruments for the Adoption of Renewable Energy: Case of Wind Energy in the Pacific Northwest U.S

    Science.gov (United States)

    Abotah, Remal

    The wide use of renewable energy technologies for generating electricity can be seen as one way of meeting environmental and climate change challenges along with a progression to a low-carbon economy. A large number of policy instruments have been formed and employed to support the adoption of renewable energy technologies in the power generation sector. However, the success of these policies in achieving their goals relies on how effective they are in satisfying their targets and thus increasing renewable energy adoption. One measurement for effectiveness of policy instruments can be their contribution to the input of the process of renewable energy adoption and their effect on satisfying regional goal. The objective of this research is evaluate the effectiveness of energy policy instruments on increasing the adoption of renewable energy by developing a comprehensive evaluation model. Criteria used in this assessment depend on five perspectives that are perceived by decision makers as important for adoption process. The decision model linked the perspectives to policy targets and various energy policy instruments. These perspectives are: economic, social, political, environmental and technical. The research implemented the hierarchical decision model (HDM) to construct a generalized policy assessment framework. Data for wind energy adoption in the Pacific Northwest region were collected as a case study and application for the model. Experts' qualitative judgments were collected and quantified using the pair-wise comparison method and the final rankings and effectiveness of policy alternatives with respect to the mission were identified. Results of this research identified economic feasibility improvement of renewable energy projects as the most influential perspective and that renewable portfolio standards and tax credits are the two most effective criteria to accomplish that. The research also applied sensitivity analysis and scenario analysis to identify the

  16. RISK LOAN PORTFOLIO OPTIMIZATION MODEL BASED ON CVAR RISK MEASURE

    Directory of Open Access Journals (Sweden)

    Ming-Chang LEE

    2015-07-01

    Full Text Available In order to achieve commercial banks liquidity, safety and profitability objective requirements, loan portfolio risk analysis based optimization decisions are rational allocation of assets.  The risk analysis and asset allocation are the key technology of banking and risk management.  The aim of this paper, build a loan portfolio optimization model based on risk analysis.  Loan portfolio rate of return by using Value-at-Risk (VaR and Conditional Value-at-Risk (CVaR constraint optimization decision model reflects the bank's risk tolerance, and the potential loss of direct control of the bank.  In this paper, it analyze a general risk management model applied to portfolio problems with VaR and CVaR risk measures by using Using the Lagrangian Algorithm.  This paper solves the highly difficult problem by matrix operation method.  Therefore, the combination of this paper is easy understanding the portfolio problems with VaR and CVaR risk model is a hyperbola in mean-standard deviation space.  It is easy calculation in proposed method.

  17. Prize-linked savings mechanism in the portfolio selection framework

    Directory of Open Access Journals (Sweden)

    Anna Kaliciak

    2016-01-01

    Full Text Available Prize-linked savings (PLS instruments implement the lottery-like component into the structure of traditional financial products. Following existing research based on both real and experimental data, such programs appeared highly successful in raising the overall savings rates within the given environments. PLS accounts seem to be treated by decision-makers as substitutes to ordinary lotteries, but this does not hold when comparing PLS with traditional interest-bearing savings products. This paper explains such empirical observations in a framework of portfolio selection problem. For that purpose, two models have been presented and used for deriving optimal portfolios in a presence of PLS, lottery and savings products. As shown in the analysis, the standard mean-variance model does not allow for a PLS instrument to be of optimum choice, whereas in the case of behavioural portfolio model allocating all disposable income

  18. Optimizing Aggregation Scenarios for Integrating Renewable Energy into the U.S. Electric Grid

    Science.gov (United States)

    Corcoran, B. A.; Jacobson, M. Z.

    2010-12-01

    This study is an analysis of 2006 and 2007 electric load data, wind speed and solar irradiance data, and existing hydroelectric, geothermal, and other power plant data to quantify benefits of aggregating clean electric power from various Federal Energy Regulatory Commission (FERC) regions in the contiguous United States. First, various time series, statistics, and probability methods are applied to the electric load data to determine if there are any desirable demand-side results—specifically reducing variability and/or coincidence of peak events, which could reduce the amount of required carbon-based generators—in combining the electricity demands from geographically and temporally diverse areas. Second, an optimization algorithm is applied to determine the least-cost portfolio of energy resources to meet the electric load for a range of renewable portfolio standards (RPS’s) for each FERC region and for various aggregation scenarios. Finally, the installed capacities, ramp rates, standard deviation, and corresponding generator requirements from these optimization test runs are compared against the transmission requirements to determine the most economical organizational structure of the contiguous U.S. electric grid. Ideally, results from this study will help to justify and identify a possible structure of a federal RPS and offer insight into how to best organize regions for transmission planning.

  19. Fuzzy portfolio model with fuzzy-input return rates and fuzzy-output proportions

    Science.gov (United States)

    Tsaur, Ruey-Chyn

    2015-02-01

    In the finance market, a short-term investment strategy is usually applied in portfolio selection in order to reduce investment risk; however, the economy is uncertain and the investment period is short. Further, an investor has incomplete information for selecting a portfolio with crisp proportions for each chosen security. In this paper we present a new method of constructing fuzzy portfolio model for the parameters of fuzzy-input return rates and fuzzy-output proportions, based on possibilistic mean-standard deviation models. Furthermore, we consider both excess or shortage of investment in different economic periods by using fuzzy constraint for the sum of the fuzzy proportions, and we also refer to risks of securities investment and vagueness of incomplete information during the period of depression economics for the portfolio selection. Finally, we present a numerical example of a portfolio selection problem to illustrate the proposed model and a sensitivity analysis is realised based on the results.

  20. Universal portfolios generated by the Bregman divergence

    Science.gov (United States)

    Tan, Choon Peng; Kuang, Kee Seng

    2017-04-01

    The Bregman divergence of two probability vectors is a stronger form of the f-divergence introduced by Csiszar. Two versions of the Bregman universal portfolio are presented by exploiting the mean-value theorem. The explicit form of the Bregman universal portfolio generated by a function of a convex polynomial is derived and studied empirically. This portfolio can be regarded as another generalized of the well-known Helmbold portfolio. By running the portfolios on selected stock-price data sets from the local stock exchange, it is shown that it is possible to increase the wealth of the investor by using the portfolios in investment.

  1. Portfolios, the Pied Piper of Teacher Certification Assessments: Legal and Psychometric Issues

    OpenAIRE

    Judy R. Wilkerson; William Steve Lang

    2003-01-01

    Since about 90% of schools, colleges, and departments of education are currently using portfolios of one form or another as decision-making tools for standards-based decisions regarding certification or licensure (as well as NCATE accreditation), it is appropriate to explore the legal and psychometric aspects of this assessment device. The authors demonstrate that portfolios being used in a high-stakes context are technically testing devices and therefore need to meet psychometric standards o...

  2. U.S.Renewable Fuel Standard implementation mechanism and market tracking%美国可再生燃料标准实施机制与市场跟踪

    Institute of Scientific and Technical Information of China (English)

    康利平; Robert Earley; 安锋; 张宇

    2013-01-01

    U.S. Renewable Fuel Standard (RFS) is a mandatory policy for promoting the utilization of biofuels in road transpiration sector in order to reduce the country's dependency on foreign oil and greenhouse gas emissions. U.S. Environmental Protection Agency (EPA) defines the proportion of renewable fuels according to RFS annual target, and requests obligated parties such like fossil fuel refiner, blenders and importer in the U.S. to complete Renewable Volume Obligation (RVO) every year. Obligated parties prove they have achieved their RVO through a renewable fuels certification system, which generates Renewable Identification Numbers (RINs) for every gallon of qualified renewable fuels produced or imported into U.S., RINs is a key for tracking renewable fuel consumption, which in turn is a key for implementing the RFS in the U.S., separated RINs can be freely traded in market and obligated parties could fulfill their RVO through buying RINs from other stakeholders. This briefing paper highlights RFS policy implementing mechanism and marketing tracking, mainly describes importance of RINs, and the method for generating and tracking RINs by both government and fuels industry participants.%可再生燃料标准(RFS)是美国政府为提高生物燃料利用量,减少石油对外依存度与温室气体排放而制定的强制执行指令.美国环保署(EPA)根据RFS目标确定可再生燃料在道路交通燃料中的混配比例,并强制要求美国汽柴油炼制、混配与进口等责任商完成当年可再生燃料配比责任量(RVO);责任商需在年末向EPA提交足够多的可再生燃料身份码(RINs)以示完成任务.RINs跟随可再生燃料的生产或进口而获取,是跟踪可再生燃料利用与监测RFS目标是否完成的主要依据.独立的RINs可自由交易并形成市场,责任商可选择购买RINs来完成年度RVO.文中介绍了美国RFS的管理机制、实施进展与影响评价,重点介绍了RINs的产生、跟踪与交易.

  3. Die Portfolio-Methode [The Portfolio-Method

    Directory of Open Access Journals (Sweden)

    Stosch, Christoph

    2006-08-01

    Full Text Available [english] The use of portfolio offers the possibility to get an overall picture of the learning process and the learning progress. Here, the possibility to learn from experience by self-reflection is in the centre of attention. Depending on the strictness of the given format the rather moderate reliability can be improved significantly. Content validity understood as face validity is guaranteed, while otherwise data on the validity of portfolios are insufficient at the moment. Thus portfolio is a tool, which particularly fits to a formative use (feedback to the students and only with restrictions to the summative assessment of the students' work. It always has to be discussed considering the "teach and learn philosophy" the framing curriculum is based on. Portfolio assessment as such has to be understood (for the moment not as a substitute for traditional assessment formats but as a useful complement in the learning process (of which examinations are an indispensable part. [german] Der Portfolio-Ansatz bietet die Möglichkeit, ein umfassendes Bild des Lernprozesses sowie des Lernfortschrittes zu erhalten. Die Möglichkeit, durch (Selbst- Reflexion aus Erfahrung zu lernen, steht hier im Vordergrund. In Abhängigkeit von der Strenge des vorgegebenen Formates kann die eher moderate Reliabilität deutlich verbessert werden. Inhaltliche Validität im Sinne der "face validity" ist sichergestellt, während ansonsten die Daten zur Validität des Portfolio bislang unzureichend sind. Das "Portfolio" ist somit ein Instrument, das sich besonders zum formativen Einsatz (Rückmeldung an die Studierenden und nur mit Einschränkungen zur summativen Prüfung des Leistungsstandes von Studierenden eignet. Dies ist stets im Zusammenhang mit der "Lehr- und Lernphilosophie" zu diskutieren, die einem Curriculum zugrunde liegt, im Rahmen dessen Portfolios zum Einsatz kommen sollen. Das Portfolio ist somit (derzeit kein Ersatz für etablierte Prüfungsformate, sondern

  4. Land-Use Portfolio Modeler, Version 1.0

    Science.gov (United States)

    Taketa, Richard; Hong, Makiko

    2010-01-01

    Natural hazards pose significant threats to the public safety and economic health of many communities throughout the world. Community leaders and decision-makers continually face the challenges of planning and allocating limited resources to invest in protecting their communities against catastrophic losses from natural-hazard events. Public efforts to assess community vulnerability and encourage loss-reduction measures through mitigation often focused on either aggregating site-specific estimates or adopting standards based upon broad assumptions about regional risks. The site-specific method usually provided the most accurate estimates, but was prohibitively expensive, whereas regional risk assessments were often too general to be of practical use. Policy makers lacked a systematic and quantitative method for conducting a regional-scale risk assessment of natural hazards. In response, Bernknopf and others developed the portfolio model, an intermediate-scale approach to assessing natural-hazard risks and mitigation policy alternatives. The basis for the portfolio-model approach was inspired by financial portfolio theory, which prescribes a method of optimizing return on investment while reducing risk by diversifying investments in different security types. In this context, a security type represents a unique combination of features and hazard-risk level, while financial return is defined as the reduction in losses resulting from an investment in mitigation of chosen securities. Features are selected for mitigation and are modeled like investment portfolios. Earth-science and economic data for the features are combined and processed in order to analyze each of the portfolios, which are then used to evaluate the benefits of mitigating the risk in selected locations. Ultimately, the decision maker seeks to choose a portfolio representing a mitigation policy that maximizes the expected return-on-investment, while minimizing the uncertainty associated with that return

  5. Portfolio Planner: A Step-by-Step Guide to Portfolio Assessment.

    Science.gov (United States)

    Jasmine, Julia

    This guide presents a step-by-step portfolio assessment method for teachers who want to implement portfolio assessment in their classrooms. Portfolio assessment is not neat or tidy in its early stages, but tidy and organized portfolios can be constructed if the outlined steps are followed. These are: (1) storage and establishing a file for each…

  6. Risks of Large Portfolios.

    Science.gov (United States)

    Fan, Jianqing; Liao, Yuan; Shi, Xiaofeng

    2015-06-01

    The risk of a large portfolio is often estimated by substituting a good estimator of the volatility matrix. However, the accuracy of such a risk estimator is largely unknown. We study factor-based risk estimators under a large amount of assets, and introduce a high-confidence level upper bound (H-CLUB) to assess the estimation. The H-CLUB is constructed using the confidence interval of risk estimators with either known or unknown factors. We derive the limiting distribution of the estimated risks in high dimensionality. We find that when the dimension is large, the factor-based risk estimators have the same asymptotic variance no matter whether the factors are known or not, which is slightly smaller than that of the sample covariance-based estimator. Numerically, H-CLUB outperforms the traditional crude bounds, and provides an insightful risk assessment. In addition, our simulated results quantify the relative error in the risk estimation, which is usually negligible using 3-month daily data.

  7. Portfolio optimization with mean-variance model

    Science.gov (United States)

    Hoe, Lam Weng; Siew, Lam Weng

    2016-06-01

    Investors wish to achieve the target rate of return at the minimum level of risk in their investment. Portfolio optimization is an investment strategy that can be used to minimize the portfolio risk and can achieve the target rate of return. The mean-variance model has been proposed in portfolio optimization. The mean-variance model is an optimization model that aims to minimize the portfolio risk which is the portfolio variance. The objective of this study is to construct the optimal portfolio using the mean-variance model. The data of this study consists of weekly returns of 20 component stocks of FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBMKLCI). The results of this study show that the portfolio composition of the stocks is different. Moreover, investors can get the return at minimum level of risk with the constructed optimal mean-variance portfolio.

  8. Taking Portfolios to the Next Level.

    Science.gov (United States)

    Kennedy, Susan; Street, Terri

    1998-01-01

    Surveys the wide range of uses of student portfolios in secondary and higher education. Suggestions include using the portfolio to cultivate reflective thinking about learning and as a document submitted with college admission applications. (DDR)

  9. Reflective portfolios support learning, personal growth and ...

    African Journals Online (AJOL)

    Reflective portfolios support learning, personal growth and competency achievement ... However, their value in postgraduate education is uncertain. ... Two major themes were explored – the benefit of the portfolio to the student and to faculty.

  10. Status and Trends in U.S. Compliance and Voluntary Renewable Energy Certificate Markets (2010 Data)

    Energy Technology Data Exchange (ETDEWEB)

    Heeter, J.; Bird, L.

    2011-10-01

    This report documents the status and trends of 'compliance'--renewable energy certificate (REC) markets used to meet state renewable portfolio standard (RPS) requirements--and 'voluntary' markets--those in which consumers and institutions purchase renewable energy to match their electricity needs on a voluntary basis. Today, 29 states and the District of Columbia have an RPS, more than half of all U.S. electricity customers have an option to purchase some type of green power product directly from a retail electricity provider, and all consumers have the option to purchase RECs. This report documents REC activities and trends in the United States. The compliance REC market analysis includes analysis of REC trading, regional REC markets, REC tracking systems, types of compliance RECs, compliance REC pricing trends, and an overview of compliance with RPS polices. The voluntary REC analysis presents data and analysis on voluntary market sales and customer participation, products and premiums, green pricing marketing and administrative expenses, voluntary REC pricing, and the voluntary carbon offsets market. The report concludes with a discussion of upcoming guidance from the Federal Trade Commission on green marketing claims, the emergence of community solar programs, and the potential impact of Dodd-Frank regulations on the REC market.

  11. Renewable Energy and Efficiency Modeling Analysis Partnership: An Analysis of How Different Energy Models Addressed a Common High Renewable Energy Penetration Scenario in 2025

    Energy Technology Data Exchange (ETDEWEB)

    Blair, N.; Jenkin, T.; Milford, J.; Short, W.; Sullivan, P.; Evans, D.; Lieberman, E.; Goldstein, G.; Wright, E.; Jayaraman, K.; Venkatech, B.; Kleiman, G.; Namovicz, C.; Smith, B.; Palmer, K.; Wiser, R.; Wood, F.

    2009-09-30

    and/or different answers in response to a set of focused energy-related questions. The focus was on understanding reasons for model differences, not on policy implications, even though a policy of high renewable penetration was used for the analysis. A group process was used to identify the potential question (or questions) to be addressed through the project. In late 2006, increasing renewable energy penetration in the electricity sector was chosen from among several options as the general policy to model. From this framework, the analysts chose a renewable portfolio standard (RPS) as the way to implement the required renewable energy market penetration in the models. An RPS was chosen because it was (i) of interest and represented the group's consensus choice, and (ii) tractable and not too burdensome for the modelers. Because the modelers and analysts were largely using their own resources, it was important to consider the degree of effort required. In fact, several of the modelers who started this process had to discontinue participation because of other demands on their time. Federal and state RPS policy is an area of active political interest and debate. Recognizing this, participants used this exercise to gain insight into energy model structure and performance. The results are not intended to provide any particular insight into policy design or be used for policy advocacy, and participants are not expected to form a policy stance based on the outcomes of the modeling. The goals of this REMAP project - in terms of the main topic of renewable penetration - were to: (1) Compare models and understand why they may give different results to the same question, (2) Improve the rigor and consistency of assumptions used across models, and (3) Evaluate the ability of models to measure the impacts of high renewable-penetration scenarios.

  12. Online Portfolio of Teacher Training

    Directory of Open Access Journals (Sweden)

    María Elena Mellado

    2010-05-01

    Full Text Available The purpose of the following study is to evaluate the degree of satisfaction with the online portfolio as a resource for assessing the initial teaching performance of students preparing at the Catholic University of Temuco, Chile, to become primary school teachers. Two groups were used in this research: an experimental one that worked with the online portfolio, and a control group that worked with the physical file. The sample consisted of 30 students randomly selected from the fourth year of the program. The level of satisfaction expressed by users of the portfolio was evaluated at the end of the practice-teaching experience. In order to take this measurement, an instrument called a semantic differential was especially designed for the purpose. The experimental group showed a difference significantly greater than that of the control group in the variable degree of satisfaction with the portfolio tool. Also, a positive and significant correlation was observed between the degree of satisfaction expressed by the students, and the score obtained by them in the initial-teaching-performance portfolio.

  13. Application of Markowitz Portfolio Theory by Building Optimal Portfolio on the US Stock Market

    Directory of Open Access Journals (Sweden)

    Martin Širůček

    2015-01-01

    Full Text Available This paper is focused on building investment portfolios by using the Markowitz Portfolio Theory (MPT. Derivation based on the Capital Asset Pricing Model (CAPM is used to calculate the weights of individual securities in portfolios. The calculated portfolios include a portfolio copying the benchmark made using the CAPM model, portfolio with low and high beta coefficients, and a random portfolio. Only stocks were selected for the examined sample from all the asset classes. Stocks in each portfolio are put together according to predefined criteria. All stocks were selected from Dow Jones Industrial Average (DJIA index which serves as a benchmark, too. Portfolios were compared based on their risk and return profiles. The results of this work will provide general recommendations on the optimal approach to choose securities for an investor’s portfolio.

  14. Redefining RECs: Additionality in the voluntary Renewable Energy Certificate market

    Science.gov (United States)

    Gillenwater, Michael Wayne

    long-term contracts that would reduce the risk of relying on revenue the voluntary green power market. Although no simple solutions are identified, a proposal for integrating RECs into a load based cap-and-trade system is presented. Keywords: Renewable Energy Certificate (REC); Renewable Portfolio Standard (RPS); emission offset; additionality; attributes

  15. Deploying Renewables: Principles for Effective Policies. Executive Summary [Russian Version

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2008-07-01

    Renewable energy can play a fundamental role in tackling climate change, environmental degradation and energy security. As these challenges have become ever more pressing, governments and markets are seeking innovative solutions. Yet, what are the key factors that will determine the success of renewable energy policies? How can current policies be improved to encourage greater deployment of renewables? What impact can more effective policies have on renewables’ share in the future global energy mix and how soon? Deploying Renewables: Principles for Effective Policies addresses these questions. Responding to the Gleneagles G8 call for a clean and secure energy future, it highlights key policy tools to fast-track renewables into the mainstream. This analysis illustrates good practices by applying the combined metrics of effectiveness and efficiency to renewable energy policies in the electricity, heating and transport sectors. It highlights significant barriers to accelerating renewables penetration, and argues that the great potential of renewables can be exploited much more rapidly and to a much larger extent if good practices are adopted. Carefully designed policy frameworks, customised to support technologies at differing stages of maturity, will deliver a strong portfolio of renewable energy technologies. Deploying Renewables: Principles for Effective Policies provides recommendations on key principles for policy design as a template for decision makers.

  16. Portfolio Use in Foreign Language Learning

    OpenAIRE

    ERİCE, Derya

    2009-01-01

    This review aims to explore the use of portfolio in developing foreign language skills of English language learners with a focus on literature on writing skills development and assessment. Depending on the results of this study, what is suggested is that 1) Portfolio can be integrated to foreign language classrooms at all levels. 2) Foreign language writing skills, in particular, can be formatively assessed by using portfolios. 3) The outcomes of portfolio practice needs to be disseminated to...

  17. Dynamic Portfolio Strategy Using Clustering Approach

    Science.gov (United States)

    Lu, Ya-Nan; Li, Sai-Ping; Jiang, Xiong-Fei; Zhong, Li-Xin; Qiu, Tian

    2017-01-01

    The problem of portfolio optimization is one of the most important issues in asset management. We here propose a new dynamic portfolio strategy based on the time-varying structures of MST networks in Chinese stock markets, where the market condition is further considered when using the optimal portfolios for investment. A portfolio strategy comprises two stages: First, select the portfolios by choosing central and peripheral stocks in the selection horizon using five topological parameters, namely degree, betweenness centrality, distance on degree criterion, distance on correlation criterion and distance on distance criterion. Second, use the portfolios for investment in the investment horizon. The optimal portfolio is chosen by comparing central and peripheral portfolios under different combinations of market conditions in the selection and investment horizons. Market conditions in our paper are identified by the ratios of the number of trading days with rising index to the total number of trading days, or the sum of the amplitudes of the trading days with rising index to the sum of the amplitudes of the total trading days. We find that central portfolios outperform peripheral portfolios when the market is under a drawup condition, or when the market is stable or drawup in the selection horizon and is under a stable condition in the investment horizon. We also find that peripheral portfolios gain more than central portfolios when the market is stable in the selection horizon and is drawdown in the investment horizon. Empirical tests are carried out based on the optimal portfolio strategy. Among all possible optimal portfolio strategies based on different parameters to select portfolios and different criteria to identify market conditions, 65% of our optimal portfolio strategies outperform the random strategy for the Shanghai A-Share market while the proportion is 70% for the Shenzhen A-Share market. PMID:28129333

  18. Dynamic Portfolio Strategy Using Clustering Approach.

    Science.gov (United States)

    Ren, Fei; Lu, Ya-Nan; Li, Sai-Ping; Jiang, Xiong-Fei; Zhong, Li-Xin; Qiu, Tian

    2017-01-01

    The problem of portfolio optimization is one of the most important issues in asset management. We here propose a new dynamic portfolio strategy based on the time-varying structures of MST networks in Chinese stock markets, where the market condition is further considered when using the optimal portfolios for investment. A portfolio strategy comprises two stages: First, select the portfolios by choosing central and peripheral stocks in the selection horizon using five topological parameters, namely degree, betweenness centrality, distance on degree criterion, distance on correlation criterion and distance on distance criterion. Second, use the portfolios for investment in the investment horizon. The optimal portfolio is chosen by comparing central and peripheral portfolios under different combinations of market conditions in the selection and investment horizons. Market conditions in our paper are identified by the ratios of the number of trading days with rising index to the total number of trading days, or the sum of the amplitudes of the trading days with rising index to the sum of the amplitudes of the total trading days. We find that central portfolios outperform peripheral portfolios when the market is under a drawup condition, or when the market is stable or drawup in the selection horizon and is under a stable condition in the investment horizon. We also find that peripheral portfolios gain more than central portfolios when the market is stable in the selection horizon and is drawdown in the investment horizon. Empirical tests are carried out based on the optimal portfolio strategy. Among all possible optimal portfolio strategies based on different parameters to select portfolios and different criteria to identify market conditions, 65% of our optimal portfolio strategies outperform the random strategy for the Shanghai A-Share market while the proportion is 70% for the Shenzhen A-Share market.

  19. Sygeplejestuderendes brug af portfolio i klinisk undervisning

    DEFF Research Database (Denmark)

    Hjorth, Anne Charlotte Overgaard; Bruhn, Helle

    2014-01-01

    Brugen af portfolio var mangelfuld, men et udviklingsprojekt i samarbejde med den kommunale sygepleje motiverede både sygeplejestuderende og kliniske vejledere til at anvende læringsdelen af portfolio aktivt.......Brugen af portfolio var mangelfuld, men et udviklingsprojekt i samarbejde med den kommunale sygepleje motiverede både sygeplejestuderende og kliniske vejledere til at anvende læringsdelen af portfolio aktivt....

  20. Safe haven currencies: a portfolio perspective

    OpenAIRE

    Cenedese, Gino

    2015-01-01

    Currency portfolios exhibit asymmetric correlations: during periods of bear, volatile world equity markets, currency portfolios provide different hedging benefits than in bull markets. I show how these time-varying hedging benefits depend on currency characteristics. This paper also illustrates how the presence of regime shifts in financial markets affects optimal portfolio choice across currency portfolios: during bear markets, investors are better off by unwinding carry trade positions, and...

  1. Composing and managing technological alliance portfolios..

    OpenAIRE

    Neyens, Inge

    2011-01-01

    Since the second half of the 1980s, the number of newly established alliances has seriously grown (de Man & Duysters, 2005). Consequently, it has become more important to study how alliance portfolios, i.e. a firm's collection of direct alliances with partners (Lavie, 2007: 1188) impact the alliance (portfolio) success of firms. Alliance portfolio researchers particularly focused on the performance implications of the alliance portfolio’s (i) structural configuration (structural perspecti...

  2. Cardinality constrained portfolio selection via factor models

    OpenAIRE

    Monge, Juan Francisco

    2017-01-01

    In this paper we propose and discuss different 0-1 linear models in order to solve the cardinality constrained portfolio problem by using factor models. Factor models are used to build portfolios to track indexes, together with other objectives, also need a smaller number of parameters to estimate than the classical Markowitz model. The addition of the cardinality constraints limits the number of securities in the portfolio. Restricting the number of securities in the portfolio allows us to o...

  3. Sustainable Housing Renewal

    Directory of Open Access Journals (Sweden)

    M. Sitar

    2008-01-01

    Full Text Available Following the already proved models the sustainable planning culture is endangering several methods directed towards the needs of tenants in the existing post-war housing stock. The case-study of our project is the renewal of the multi stored building in the housing estate Metalna, Maribor/Tezno (1949. It is based on the sustainable renovation principle for the quality of sustainable housing in functional, technological and environmental point of view. According to it, the idea of the project was to improve the functionality of the building as well as of individual housing units. One of the main goals was to introduce the variety of space and typology of individual housing units. Beside, there was an intention to rebuild and redesign the green area, especially the problems of parking and playground for children. On the other hand, the project is introducing the low-energy renovation principle including new technologies, structural elements and materials. Two scenarios of technological renewal were suggested. The first one was a classical one using additional thermal insulation of the building envelope and fitting of new structural elements such as windows, doors, balconies, windbreaks etc. (Renewal 1. The second scenario, however, included the sunspace construction used as a new passive solar structural element, modifying the envelope (Renewal 2. The energy efficiency of the suggested scenarios were calculated according to the procedures given in EN 832 standard considering the attached sunspace as integral part of the building in first case and as a passive solar object adjacent to the thermal envelope of the building in the second case. The results show that the last case yields the most energy efficient renewal of the existing residential building.

  4. Three essays of economics and policy on renewable energy and energy efficiency

    Science.gov (United States)

    Meng, Yuxi

    In face of the crisis in energy security, environmental contamination, and climate change, energy saving and carbon emission reduction have become the top concerns of the whole human world. To address those concerns, renewable energy and energy efficiency are the two fields that many countries are paying attention to, which are also my research focus. The dissertation consists of three papers, including the innovation behavior of renewable energy producers, the impact of renewable energy policy on renewable innovation, and the market feedback to energy efficient building benchmarking ordinance. Here are the main conclusions I have reached in this dissertation. First, through the study on foreign patenting intention with the case study of Chinese solar PV industry, I looked at the patenting behaviors of 15 non-Chinese solar PV producers in solar PV technologies in China, and pointed out that foreign firms may file patents in the home country or production base of their competitors in order to earn the competitive edge in the global market. The second study is about the "Innovation by Generating" process. I specifically focused on Renewable Portfolio Standard (RPS) in the United States and the innovation performance within each state, and found out that wind power generation in RPS states has developed rapidly after the adoption of RPS, while the "Innovating by Generating" effect is more significant in solar PV technologies. In general, the innovations of the two technology groups are not prominently encouraged by RPS. My last study is about the benchmarking law and market response in the scenario of Philadelphia Benchmarking Law. By comparing the rental rate of LEED/EnergyStar buildings and ordinary buildings in the city of Philadelphia before and after the adoption of the building energy efficiency benchmarking law, I believe that the passage of Philadelphia Benchmarking Law may be helpful in improving the public awareness and understanding of energy efficiency

  5. Project Portfolio Management Prototype Application Design

    OpenAIRE

    Paul POCATILU

    2007-01-01

    The management of project portfolio in a company requires the use of specific software, especially when the number of projects is significant. This paper is based on the Methodology for the development of IT projects portfolio management applications research project. This paper presents some of the results of a project portfolio application design.

  6. Project Portfolio Management Prototype Application Design

    Directory of Open Access Journals (Sweden)

    2007-01-01

    Full Text Available The management of project portfolio in a company requires the use of specific software, especially when the number of projects is significant. This paper is based on the Methodology for the development of IT projects portfolio management applications research project. This paper presents some of the results of a project portfolio application design.

  7. Using Electronic Portfolios for Second Language Assessment

    Science.gov (United States)

    Cummins, Patricia W.; Davesne, Celine

    2009-01-01

    Portfolio assessment as developed in Europe presents a learner-empowering alternative to computer-based testing. The authors present the European Language Portfolio (ELP) and its American adaptations, LinguaFolio and the Global Language Portfolio, as tools to be used with the Common European Framework of Reference for languages and the American…

  8. Universal portfolios generated by Toeplitz matrices

    Science.gov (United States)

    Tan, Choon Peng; Chu, Sin Yen; Pan, Wei Yeing

    2014-06-01

    Performance of universal portfolios generated by Toeplitz matrices is studied in this paper. The general structure of the companion matrix of the generating Toeplitz matrix is determined. Empirical performance of the threeband and nine-band Toeplitz universal portfolios on real stock data is presented. Pseudo Toeplitz universal portfolios are studied with promising empirical achievement of wealth demonstrated.

  9. Using Portfolios To Assess Student Performance.

    Science.gov (United States)

    McRobbie, Joan

    1992-01-01

    What educators around the country are finding out as they work with portfolios is reviewed, focusing on the classroom. Portfolios are purposeful, collaborative, self-reflective collections of student work generated during the process of instruction. Although they can be used in any academic discipline, portfolios are widely used in English and…

  10. Quantitative investment strategies and portfolio management

    NARCIS (Netherlands)

    Guo, J.

    2012-01-01

    This book contains three essays on alternative investments and portfolio management. Taking from a portfolio investor’s perspective, the first essay analyzes the portfolio implication of investing in hedge funds when there is a hedge fund lockup period. The second essay studies the investment

  11. Assessment Portfolios as Opportunities for Teacher Learning

    Science.gov (United States)

    Gearhart, Maryl; Osmundson, Ellen

    2009-01-01

    This article is an analysis of the role of assessment portfolios in teacher learning. Over 18 months, 23 science teachers developed, implemented, and evaluated assessments to track student learning, supported by portfolio tasks and resources, grade-level colleagues, and team facilitators. Evidence of teacher learning included (a) portfolios of a…

  12. EFL Writers' Perceptions of Portfolio Keeping

    Science.gov (United States)

    Aydin, Selami

    2010-01-01

    Although portfolios in writing in English as a Foreign Language (EFL) learning are alternative tools, the portfolio process mainly concerns the decisions of language teachers rather than students' perceptions of portfolios. The present study aims to descriptively measure the perceptions of English as a Foreign Language (EFL) students towards…

  13. Hierarchical Portfolio Management: Theory and Applications

    NARCIS (Netherlands)

    H. Ning (Haikun)

    2007-01-01

    textabstractUnder his own preference, how should an investor coordinate the asset managers such that his aggregated portfolio is optimized? The efficiency of each managed sub portfolio and the aggregation of all the sub portfolios are the 2 main underlying problems considered in this dissertation.

  14. Technology for Online Portfolio Assessment Programs

    Science.gov (United States)

    Ferrara, Victoria M.

    2010-01-01

    Portfolio assessment is a valid and reliable method to assess experiential learning. Developing a fully online portfolio assessment program is neither easy nor inexpensive. The institution seeking to take its portfolio assessment program online must make a commitment to its students by offering the technologies most suited to meet students' needs.…

  15. Using Electronic Portfolios for Second Language Assessment

    Science.gov (United States)

    Cummins, Patricia W.; Davesne, Celine

    2009-01-01

    Portfolio assessment as developed in Europe presents a learner-empowering alternative to computer-based testing. The authors present the European Language Portfolio (ELP) and its American adaptations, LinguaFolio and the Global Language Portfolio, as tools to be used with the Common European Framework of Reference for languages and the American…

  16. Household portfolios and implicit risk aversion

    NARCIS (Netherlands)

    Bucciol, A.; Miniaci, R.

    2008-01-01

    We derive from a sample of US households the distribution of the risk aversion implicit in their portfolio choice. Our estimate minimizes the distance between the certainty equivalent return generated with observed portfolios and portfolios that are optimal in a mean-variance framework. Taking into

  17. A Portfolio Model for Music Educators

    Science.gov (United States)

    Hill, Cheryl Frazes

    2008-01-01

    In recent years, portfolios in paper or digital form have become a requirement for teachers. Many university teacher education programs throughout the United States, including music education, require a portfolio as a graduation requirement. For practicing teachers interested in National Board Certification, a portfolio is part of the assessment…

  18. Views on Using Portfolio in Teacher Education

    Science.gov (United States)

    Imhof, Margarete; Picard, Christin

    2009-01-01

    The usage of portfolio methods to document professional development in teaching is increasing in Germany, but despite its proliferation, the issue of how the effects of portfolio methods can be determined has received little attention. This paper investigates the acceptance of portfolio by the pre-service teachers (N = 144, 112 female) and the…

  19. Teacher Candidate Portfolios: Routine or Reflective Action?

    Science.gov (United States)

    McIntyre, Christie; Dangel, Julie Rainer

    2009-01-01

    Documentation is sparse regarding outcomes associated with teacher education portfolios and the quality of the reflections contained within the portfolios. This collective case study of six teacher candidates enrolled in an elementary teacher education program at a large midwestern university explores the outcomes of developing a portfolio based…

  20. Formal Method of Description Supporting Portfolio Assessment

    Science.gov (United States)

    Morimoto, Yasuhiko; Ueno, Maomi; Kikukawa, Isao; Yokoyama, Setsuo; Miyadera, Youzou

    2006-01-01

    Teachers need to assess learner portfolios in the field of education. However, they need support in the process of designing and practicing what kind of portfolios are to be assessed. To solve the problem, a formal method of describing the relations between the lesson forms and portfolios that need to be collected and the relations between…

  1. Reduced form models of bond portfolios

    OpenAIRE

    Matti Koivu; Teemu Pennanen

    2010-01-01

    We derive simple return models for several classes of bond portfolios. With only one or two risk factors our models are able to explain most of the return variations in portfolios of fixed rate government bonds, inflation linked government bonds and investment grade corporate bonds. The underlying risk factors have natural interpretations which make the models well suited for risk management and portfolio design.

  2. Hierarchical Portfolio Management: Theory and Applications

    NARCIS (Netherlands)

    H. Ning (Haikun)

    2007-01-01

    textabstractUnder his own preference, how should an investor coordinate the asset managers such that his aggregated portfolio is optimized? The efficiency of each managed sub portfolio and the aggregation of all the sub portfolios are the 2 main underlying problems considered in this dissertation.

  3. Quantitative investment strategies and portfolio management

    NARCIS (Netherlands)

    Guo, J.

    2012-01-01

    This book contains three essays on alternative investments and portfolio management. Taking from a portfolio investor’s perspective, the first essay analyzes the portfolio implication of investing in hedge funds when there is a hedge fund lockup period. The second essay studies the investment prefer

  4. Factor investing with risk parity portfolios

    OpenAIRE

    Pantchev, V. (Vekil)

    2017-01-01

    Abstract This thesis investigates factor investing and risk parity methods by constructing seven risk parity portfolios. We find that both single-factor portfolios and multi-factor risk parity portfolios outperform the market and our benchmarks. The methods produce higher absolute returns and better risk-adjusted returns with lower volatilities and drawdown...

  5. Essays on Rational Portfolio Theory

    DEFF Research Database (Denmark)

    Nielsen, Simon Ellersgaard

    This dissertation is comprised of five research papers written during the period January 2013 -December 2015. Their abstracts are: The Fundamental Theorem of Derivative Trading. When estimated volatilities are not inperfect agreement with reality, delta hedged option portfolios will incur a non...... is proportional to volatility, we can deriveclosed form expressions for the optimal portfolio using the formalism of Hamilton-JacobixiiiBellman. We also perform an empirical investigation, which strongly suggests that there inreality are no tangible welfare gains associated with hedging stochastic volatility...... in a bondstockeconomy. Stochastic Volatility for Utility Maximisers Part II. Using martingale methods we derivebequest optimising portfolio weights for a rational investor who trades in a bond-stockderivativeeconomy characterised by a generic stochastic volatility model. For illustrativepurposes we then proceed...

  6. Development of Solution Algorithm and Sensitivity Analysis for Random Fuzzy Portfolio Selection Model

    Science.gov (United States)

    Hasuike, Takashi; Katagiri, Hideki

    2010-10-01

    This paper focuses on the proposition of a portfolio selection problem considering an investor's subjectivity and the sensitivity analysis for the change of subjectivity. Since this proposed problem is formulated as a random fuzzy programming problem due to both randomness and subjectivity presented by fuzzy numbers, it is not well-defined. Therefore, introducing Sharpe ratio which is one of important performance measures of portfolio models, the main problem is transformed into the standard fuzzy programming problem. Furthermore, using the sensitivity analysis for fuzziness, the analytical optimal portfolio with the sensitivity factor is obtained.

  7. Application of Project Portfolio Management

    Science.gov (United States)

    Pankowska, Malgorzata

    The main goal of the chapter is the presentation of the application project portfolio management approach to support development of e-Municipality and public administration information systems. The models of how people publish and utilize information on the web have been transformed continually. Instead of simply viewing on static web pages, users publish their own content through blogs and photo- and video-sharing slides. Analysed in this chapter, ICT (Information Communication Technology) projects for municipalities cover the mixture of the static web pages, e-Government information systems, and Wikis. So, for the management of the ICT projects' mixtures the portfolio project management approach is proposed.

  8. Portfolios and the market geometry

    Science.gov (United States)

    Eleutério, Samuel; Araújo, Tanya; Vilela Mendes, R.

    2014-09-01

    A geometric analysis of return time series, performed in the past, implied that most of the systematic information in the market is contained in a space of small dimension. Here we have explored subspaces of this space to find out the relative performance of portfolios formed from companies that have the largest projections in each one of the subspaces. As expected, it was found that the best performance portfolios are associated with some of the small eigenvalue subspaces and not to the dominant dimensions. This is found to occur in a systematic fashion over an extended period (1990-2008).

  9. Myopia management: multihospital portfolio planning.

    Science.gov (United States)

    Irish, G G

    1987-10-01

    The acquisition and divestiture of organizational business units demonstrate management's strategy in response to an evolving marketplace. From a strategic perspective, the most significant danger to a corporation is not having the "right" portfolio of businesses or products to respond to the marketplace. This article describes a conceptual model that a multihospital system executive might use to determine the growth and diversification of the organization's portfolio of businesses. The model involves the application of market, financial, and microeconomic theories in a logical sequence to assist management in making business acquisition and divestiture decisions.

  10. Delegated Portfolio Management and Optimal Allocation of Portfolio Managers

    DEFF Research Database (Denmark)

    Christensen, Michael; Vangsgaard Christensen, Michael; Gamskjaer, Ken

    2015-01-01

    In this article, we investigate whether the application of the mean-variance framework on portfolio manager allocation offers any out-of-sample benefits compared to a naïve strategy of equal weighting. Based on an exclusive data-set of high-net-worth (HNW) investors, we utilize a wide variety...

  11. Fisheries portfolio diversification and turnover buffer Alaskan fishing communities from abrupt resource and market changes

    Science.gov (United States)

    Cline, Timothy J.; Schindler, Daniel E.; Hilborn, Ray

    2017-01-01

    Abrupt shifts in natural resources and their markets are a ubiquitous challenge to human communities. Building resilient social-ecological systems requires approaches that are robust to uncertainty and to regime shifts. Harvesting diverse portfolios of natural resources and adapting portfolios in response to change could stabilize economies reliant on natural resources and their markets, both of which are prone to unpredictable shifts. Here we use fisheries catch and revenue data from Alaskan fishing communities over 34 years to test whether diversification and turnover in the composition of fishing opportunities increased economic stability during major ocean and market regime shifts in 1989. More than 85% of communities show reduced fishing revenues following these regime shifts. However, communities with the highest portfolio diversity and those that could opportunistically shift the composition of resources they harvest, experienced negligible or even positive changes in revenue. Maintaining diversity in economic opportunities and enabling turnover facilitates sustainability of communities reliant on renewable resources facing uncertain futures. PMID:28091534

  12. Fisheries portfolio diversification and turnover buffer Alaskan fishing communities from abrupt resource and market changes.

    Science.gov (United States)

    Cline, Timothy J; Schindler, Daniel E; Hilborn, Ray

    2017-01-16

    Abrupt shifts in natural resources and their markets are a ubiquitous challenge to human communities. Building resilient social-ecological systems requires approaches that are robust to uncertainty and to regime shifts. Harvesting diverse portfolios of natural resources and adapting portfolios in response to change could stabilize economies reliant on natural resources and their markets, both of which are prone to unpredictable shifts. Here we use fisheries catch and revenue data from Alaskan fishing communities over 34 years to test whether diversification and turnover in the composition of fishing opportunities increased economic stability during major ocean and market regime shifts in 1989. More than 85% of communities show reduced fishing revenues following these regime shifts. However, communities with the highest portfolio diversity and those that could opportunistically shift the composition of resources they harvest, experienced negligible or even positive changes in revenue. Maintaining diversity in economic opportunities and enabling turnover facilitates sustainability of communities reliant on renewable resources facing uncertain futures.

  13. Adaptive Portfolio Optimization for Multiple Electricity Markets Participation.

    Science.gov (United States)

    Pinto, Tiago; Morais, Hugo; Sousa, Tiago M; Sousa, Tiago; Vale, Zita; Praca, Isabel; Faia, Ricardo; Pires, Eduardo Jose Solteiro

    2016-08-01

    The increase of distributed energy resources, mainly based on renewable sources, requires new solutions that are able to deal with this type of resources' particular characteristics (namely, the renewable energy sources intermittent nature). The smart grid concept is increasing its consensus as the most suitable solution to facilitate the small players' participation in electric power negotiations while improving energy efficiency. The opportunity for players' participation in multiple energy negotiation environments (smart grid negotiation in addition to the already implemented market types, such as day-ahead spot markets, balancing markets, intraday negotiations, bilateral contracts, forward and futures negotiations, and among other) requires players to take suitable decisions on whether to, and how to participate in each market type. This paper proposes a portfolio optimization methodology, which provides the best investment profile for a market player, considering different market opportunities. The amount of power that each supported player should negotiate in each available market type in order to maximize its profits, considers the prices that are expected to be achieved in each market, in different contexts. The price forecasts are performed using artificial neural networks, providing a specific database with the expected prices in the different market types, at each time. This database is then used as input by an evolutionary particle swarm optimization process, which originates the most advantage participation portfolio for the market player. The proposed approach is tested and validated with simulations performed in multiagent simulator of competitive electricity markets, using real electricity markets data from the Iberian operator-MIBEL.

  14. Entropy-based portfolio models: Practical issues

    Science.gov (United States)

    Shirazi, Yasaman Izadparast; Sabiruzzaman, Md.; Hamzah, Nor Aishah

    2015-10-01

    Entropy is a nonparametric alternative of variance and has been used as a measure of risk in portfolio analysis. In this paper, the computation of entropy risk for a given set of data is discussed with illustration. A comparison between entropy-based portfolio models is made. We propose a natural extension of the mean entropy portfolio to make it more general and diversified. In terms of performance, this new model is similar to the mean-entropy portfolio when applied to real and simulated data, and offers higher return if no constraint is set for the desired return; also it is found to be the most diversified portfolio model.

  15. Performance of the reverse Helmbold universal portfolio

    Science.gov (United States)

    Tan, Choon Peng; Kuang, Kee Seng; Lee, Yap Jia

    2017-04-01

    The universal portfolio is an important investment strategy in a stock market where no stochastic model is assumed for the stock prices. The zero-gradient set of the objective function estimating the next-day portfolio which contains the reverse Kullback-Leibler order-alpha divergence is considered. From the zero-gradient set, the explicit, reverse Helmbold universal portfolio is obtained. The performance of the explicit, reverse Helmbold universal portfolio is studied by running them on some stock-price data sets from the local stock exchange. It is possible to increase the wealth of the investor by using these portfolios in investment.

  16. Comparison of Portfolio Selection and Performance: Shari’ah-Compliant and Socially Responsible Investment Portfolios

    Directory of Open Access Journals (Sweden)

    Mehmet Asutay

    2015-04-01

    Full Text Available This study examines the effect of Islamic screening criteria on Shari’ah-compliant portfolio selection and performance compared to Socially Responsible Investment (SRI portfolio. Each portfolio constructed from 15 stocks based on FTSE 100 using data from year 1997. Mean-variance portfolio optimization is employed with some financial ratios added as constraints for the Shari’ah portfolio. Annual expected return of each portfolio from 2008 to 2013 is used to calculate Sharpe’s ratio, Treynor ratio and Jensen’s alpha as the performance measurement tools. Macroeconomic variables are assessed using ordinary least square to examine whether they influence the portfolios’ expected returns or not. The result finds that Shari’ah portfolio has a better performance than SRI from year 2008 to 2010 shown by higher value of the measurement tools. However, from 2011 to 2013, SRI portfolio has better performance than Shari’ah portfolio

  17. The Impact of Real Estate on the Terminal Wealth of the UK Mixed-Asset Portfolio

    OpenAIRE

    Byrne, Peter; Lee, Stephen

    2003-01-01

    The argument for the inclusion of real estate in the mixed-asset portfolio has concentrated on examining its effect in reducing the portfolio risk - the time series standard deviation (TSSD), mainly using ex-post time series data. However, the past as such is not really relevant to the long-term institutional investors, such as the insurance companies and pension funds, who are more concerned the terminal wealth (TW) of their investments and the variability of this wealth, the terminal wealt...

  18. Large-scale portfolios using realized covariance matrix: evidence from the Japanese stock market

    OpenAIRE

    Masato Ubukata

    2010-01-01

    This paper examines effects of realized covariance matrix estimators based on high-frequency data on large-scale minimum-variance equity portfolio optimization. The main results are: (i) the realized covariance matrix estimators yield a lower standard deviation of large-scale portfolio returns than Bayesian shrinkage estimators based on monthly and daily historical returns; (ii) gains to switching to strategies using the realized covariance matrix estimators are higher for an investor with hi...

  19. Firefly Algorithm for Cardinality Constrained Mean-Variance Portfolio Optimization Problem with Entropy Diversity Constraint

    Directory of Open Access Journals (Sweden)

    Nebojsa Bacanin

    2014-01-01

    portfolio model with entropy constraint. Firefly algorithm is one of the latest, very successful swarm intelligence algorithm; however, it exhibits some deficiencies when applied to constrained problems. To overcome lack of exploration power during early iterations, we modified the algorithm and tested it on standard portfolio benchmark data sets used in the literature. Our proposed modified firefly algorithm proved to be better than other state-of-the-art algorithms, while introduction of entropy diversity constraint further improved results.

  20. Dynamic Portfolio Choice with Frictions

    DEFF Research Database (Denmark)

    Garleanu, Nicolae; Heje Pedersen, Lasse

    2016-01-01

    We show how portfolio choice can be modeled in continuous time with transitory and persistent transaction costs, multiple assets, multiple signals predicting returns, and general signal dynamics. The objective function is derived from the limit of discrete-time models with endogenous transaction...

  1. Optimal Portfolio Choice with Annuitization

    NARCIS (Netherlands)

    Koijen, R.S.J.; Nijman, T.E.; Werker, B.J.M.

    2006-01-01

    We study the optimal consumption and portfolio choice problem over an individual's life-cycle taking into account annuity risk at retirement. Optimally, the investor allocates wealth at retirement to nominal, inflation-linked, and variable annuities and conditions this choice on the state of the eco

  2. Utility supply portfolio diversity requirements

    Energy Technology Data Exchange (ETDEWEB)

    Hanser, Philip; Graves, Frank

    2007-06-15

    In general, diversification for its own sake by utilities is likely to come at significant cost from ignoring or having to overcome engineering reasons for preferring a less diversified portfolio of resources. Integrated utilities, distcos and merchant gencos are likely to pursue widely divergent strategies in this regard. (author)

  3. Portfolios and Self-Assessment.

    Science.gov (United States)

    Ballard, Leslie

    1992-01-01

    Outlines an assignment in which a teacher used portfolios as the basis for a final examination to give students a chance to assess their own writing and their progress. Discusses the success of the assignment and the teacher's surprise at the students' insight into their own strengths and weaknesses. (PRA)

  4. Sustainability within product portfolio management

    NARCIS (Netherlands)

    Wever, R.; Boks, C.B.; Bakker, C.A.

    2008-01-01

    On both a strategic level and a product level a lot is known on how to integrate sustainability aspects. On the intermediate level of product portfolio management this is not true. Here the strategic sustainability goals of a company need to be translated into products. A company wanting to innovate

  5. Integrating Video in Electronic Portfolios

    Science.gov (United States)

    Walker, Victoria Lynn

    2004-01-01

    Finding the right candidates for positions is a difficult task for employers. For job applicants obtaining the best positions available can also be challenging. One problem is the inherent weakness of one page cover letters, two page resumes, or short portfolios to present an applicant's talents thoroughly. One successful method of displaying a…

  6. Optimal Portfolio Choice with Annuitization

    NARCIS (Netherlands)

    Koijen, R.S.J.; Nijman, T.E.; Werker, B.J.M.

    2006-01-01

    We study the optimal consumption and portfolio choice problem over an individual's life-cycle taking into account annuity risk at retirement. Optimally, the investor allocates wealth at retirement to nominal, inflation-linked, and variable annuities and conditions this choice on the state of the

  7. Robust Portfolio Optimization Using Pseudodistances

    Science.gov (United States)

    2015-01-01

    The presence of outliers in financial asset returns is a frequently occurring phenomenon which may lead to unreliable mean-variance optimized portfolios. This fact is due to the unbounded influence that outliers can have on the mean returns and covariance estimators that are inputs in the optimization procedure. In this paper we present robust estimators of mean and covariance matrix obtained by minimizing an empirical version of a pseudodistance between the assumed model and the true model underlying the data. We prove and discuss theoretical properties of these estimators, such as affine equivariance, B-robustness, asymptotic normality and asymptotic relative efficiency. These estimators can be easily used in place of the classical estimators, thereby providing robust optimized portfolios. A Monte Carlo simulation study and applications to real data show the advantages of the proposed approach. We study both in-sample and out-of-sample performance of the proposed robust portfolios comparing them with some other portfolios known in literature. PMID:26468948

  8. Portfolios in Progress: Reevaluating Assessment.

    Science.gov (United States)

    Spence, Sarah L.; Theriot, Billie

    1999-01-01

    Analyzes the adjustments and changes that have evolved from the inception of a pilot portfolio program through the fifth semester of its implementation in a developmental English class. The program allows for authentic, performance-based assessment and challenges students to assume more control of their writing. Asserts that the final portfolio…

  9. Architectural Portfolio 2001: Main Winners.

    Science.gov (United States)

    American School & University, 2001

    2001-01-01

    Presents descriptions and photographs of the following two American School and University Architectural Portfolio main winners for 2001: Chesterton, Indiana's Chesterton High School and Lied Library at the University of Nevada, Las Vegas. Included are each project's vital statistics, the architectural firm involved, and a list of designers.(GR)

  10. Household Portfolios in the Netherlands

    NARCIS (Netherlands)

    Alessie, R.J.M.; Hochgürtel, S.; van Soest, A.H.O.

    2000-01-01

    We describe and analyse the portfolio structure of Dutch households using micro panel data from the CentER Savings Survey, 1993-1998.The data allows for a distinction between many types of assets.Moreover, we have information on mortgage debt, consumer debt, etc.We analyse the composition of househo

  11. PDP Portfolios at Utrecht University

    NARCIS (Netherlands)

    van Keulen, H.

    2006-01-01

    Utrecht University, a large and fairly traditional (but highly successful) research university in The Netherlands, embraced the concept of personal development and planning portfolios in the aftermath of the Bologna agreements. Five-year HE programmes without much freedom or choice were changed into

  12. Portfolio Selection with Heavy Tails

    NARCIS (Netherlands)

    N. Hyung (Namwon); C.G. de Vries (Casper)

    2004-01-01

    textabstractConsider the portfolio problem of choosing the mix between stocks and bonds under a downside risk constraint. Typically stock returns exhibit fatter tails than bonds corresponding to their greater downside risk. Downside risk criteria like the safety first criterion therefore of ten sele

  13. Social preferences and portfolio choice

    NARCIS (Netherlands)

    Riedl, A.M.; Smeets, P.M.A.

    2013-01-01

    This paper explores whether social preferences influence portfolio choices of retail investors. We use administrative investor trading records which we link to decisions of the same investors in experiments with real money at stake. We show that social preferences rather than return expectations or

  14. Retirement Flexibility and Portfolio Choice

    NARCIS (Netherlands)

    Adema, Y.; Bonenkamp, J.; Meijdam, A.C.

    2011-01-01

    This paper explores the interaction between retirement flexibility and portfolio choice in an overlapping-generations model. We analyse this interaction both in a partial-equilibrium and general-equilibrium setting. Retirement flexibility is often seen as a hedge against capital-market risks which

  15. Sustainable Energy Portfolios for Small Island States

    Directory of Open Access Journals (Sweden)

    Sándor Szabó

    2015-09-01

    Full Text Available The study presents a cost effective electricity generation portfolio for six island states for a 20-year period (2015–2035. The underlying concept investigates whether adding sizeable power capacities of renewable energy sources (RES options could decrease the overall costs and contribute to a more sustainable, indigenous electricity generation at the same time. Often, island states rely on fossil fuels which, apart from dependence on foreign resources, also includes an additional, significant transport cost. This is an extra motive to study the extent in which island states represent primary locations for RES technologies. For the aims of the present study an optimization model has been developed and following numerous runs the obtained results show that installing PV and battery capacities can delay-reduce the huge investments in fossil options in early periods. Thus, investment on RES can have a positive, long-term effect on the overall energy mix. This prompt development can happen without adding new subsidies but there is a need to address the existing socio-economic barriers with intelligent design of financing and economic instruments and capacity building as discussed in the conclusions.

  16. Portfolios for assessment of paediatric specialist registrars.

    Science.gov (United States)

    Melville, C; Rees, M; Brookfield, D; Anderson, J

    2004-10-01

    In 1997 the Royal College of Paediatrics and Child Health introduced portfolios to guide and monitor the learning of specialist registrars. We studied their value for assessment. Using Bigg's SOLO criteria we devised a marking scheme based on 6 domains of competence: clinical, communication, teaching and learning, ethics and attitudes, management and evaluation, and creation of evidence. We rated portfolios according to quality of evidence presented and expectations by year of training. We similarly assessed trainee performance in the annual record of in-training assessment (RITA) interview. Specific advice based on the results of the first portfolio assessments was circulated to all trainees, instructing them to increase the structure and decrease the bulk of portfolios. A second sample of portfolios was reviewed a year later, using similar evaluations, to determine the effects. A total of 76 portfolios were assessed in year 1 by a single rater; 30 portfolios were assessed in year 2 by 2 independent raters. The quality of documentation improved from year 1 to year 2 but there was no significant increase in portfolio scores. The inter-rater correlation coefficient of the portfolio assessment method was 0.52 (Cohen's kappa 0.35). The inter-rater correlation coefficient of the RITA interview was 0.71 (Cohen's kappa 0.38). There was moderate inter-assessment correlation between portfolios and RITA interviews (kappa 0.26 in year 1 and 0.29 in year 2). Generalisability analysis suggested that 5 successive ratings by a single observer or independent ratings by 4 observers on the same occasion would be needed to yield a generalisability coefficient > 0.8 for overall portfolio rating. This method of portfolio assessment is insufficiently reliable as a sole method for high stakes, single-instance assessment, but has a place as part of a triangulation process. Repeated portfolio assessment by paired observers would increase reliability. Longer term studies are required to

  17. Utilization of renewable energy in architectural design

    Institute of Scientific and Technical Information of China (English)

    TIAN Lei; QIN Youguo

    2007-01-01

    Renewable energy does not simply equal to using a photovoltaic (PV) board.In addition to heating,ventilation and air conditioning (HVAC) engineering considerations,the design approaches of architects are crucial to the utilization condition and methods of renewable energy.Through profound comprehension of the relationship between renewable energy utilization and design approaches,we can achieve a dual-standard of building environment performance and esthetics.

  18. Interrogating the Generalizability of Portfolio Assessments of Beginning Teachers: A Qualitative Study

    Directory of Open Access Journals (Sweden)

    Pamela A. Moss

    2004-07-01

    Full Text Available This qualitative study is intended to illuminate factors that affect the generalizability of portfolio assessments of beginning teachers. By generalizability, we refer here to the extent to which the portfolio assessment supports generalizations from the particular evidence reflected in the portfolio to the conception of competent teaching reflected in the standards on which the assessment is based. Or, more practically, “The key question is, ‘How likely is it that this finding would be reversed or substantially altered if a second, independent assessment of the same kind were made?’” (Cronbach, Linn, Brennan, and Haertel, 1997, p. 1. In addressing this question, we draw on two kinds of evidence that are rarely available: comparisons of two different portfolios completed by the same teacher in the same year and comparisons between a portfolio and a multi-day case study (observation and interview completed shortly after portfolio submission intended to parallel the evidence called for in the portfolio assessment. Our formative goal is to illuminate issues that assessment developers and users can take into account in designing assessment systems and appropriately limiting score interpretations.

  19. Tradeoffs for Renewable Energy Projects: Environmental, Planning, and Mission Considerations

    Science.gov (United States)

    2010-04-01

    used to produce usable forms of energy. Biomass energy can be used directly or indirectly. Burning is a common example of direct use by combustion. Gas...methane from sewage and land-fills. The use of biomass energy does have disadvantages. Unlike solar, wind, geothermal, or ocean energy, GHG are...large energy inputs (i.e., fuel). Nonetheless, biomass energy has a place as one component of a renewable energy “portfolio.” Biomass energy does have a

  20. Using Teaching Portfolios To Improve and Assess Teaching.

    Science.gov (United States)

    Shackelford, Ray

    This paper seeks to answer three basic questions related to the use of teaching portfolios in faculty evaluation and development: (1) "What is a teaching portfolio?"; (2) "How can the teaching portfolio be used to document and facilitate teaching?"; and (3) "How can teaching portfolios be assessed?" The teaching portfolio is seen as encouraging…

  1. Portfolios Here, Portfolios There...Searching for the Essence of "Educational Portfolios."

    Science.gov (United States)

    LaBoskey, Vicki Kubler

    2000-01-01

    Educational portfolios can happen, even within extremely incompatible organizational structures. When designed in accordance with four principles (opportunities for meaning-making, interactions with people who matter, assemblage over an extended period, and a supportive presentation context) these projects can be transformative and profoundly…

  2. Renewable energy: RD&D priorities. Insights from IEA technology programmes

    Energy Technology Data Exchange (ETDEWEB)

    none

    2006-12-19

    In order to substantially enhance the share of renewable energy technologies in the energy portfolio, it is imperative to accelerate technological advancement and subsequently reduce costs, in combination with novel applications and deployment. This outcome can be significantly supported by a range of RD and D initiatives, if properly designed and implemented. This publication reviews the current status of the renewable energy technologies portfolio and provides guidance on their mid- and long-term development. The study explores the options for the RD&D to achieve breakthroughs that will lead to large-scale markets and identifies what activities should take priority. It also looks at the benefits of increased RD&D funding in terms of technological advancement and cost improvement. It covers renewable energy technologies in the early research stage through to those that have reached a level of maturity. It also lists national renewable energy RD and D trends in IEA member countries.

  3. A Dantzig-Wolfe Decomposition Algorithm for Linear Economic MPC of a Power Plant Portfolio

    DEFF Research Database (Denmark)

    2012-01-01

    Recently, the interest in renewable energy sources is increasing. In the short future, their penetration in the power systems will be signicantly higher than today. Denmark is working on achieving its goal by 2020 of having 30% of the energy production provided by renewable sources. 50% of the to...... a sample period, Dantzig-Wolfe decomposition is used for solution of the resulting linear program describing the Economic MPC of such systems. The controller obtained has been tested by simulations of a power portfolio system....

  4. Energy Efficient Urban Development Portfolio; Portfolio Energiezuinige Stedenbouw

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2011-10-15

    Within 10 years' time, all new buildings in the Netherlands will be built energy-neutrally. This has been agreed on in the Spring Agreement. To reach the goal of energy-neutral building, urban development adjustments are needed. This portfolio offers instruments to work with the theme of energy in urban development plans, including 10 appealing examples of projects. [Dutch] Binnen tien jaar worden in Nederland alle nieuwbouwwoningen energieneutraal gebouwd. Hier zijn afspraken over gemaakt in onder andere het Lente-akkoord. Om het doel van energieneutrale bouw te bereiken zijn ook stedenbouwkundige aanpassingen noodzakelijk. Dit portfolio geeft handvatten om met het thema energie in stedenbouwkundige plannen te werken met tien aansprekende projecten als voorbeelden.

  5. Automatic Trading Agent. RMT based Portfolio Theory and Portfolio Selection

    CERN Document Server

    Snarska, M; Snarska, Malgorzata; Krzych, Jakub

    2006-01-01

    Portfolio theory is a very powerful tool in the modern investment theory. It is helpful in estimating risk of an investor's portfolio, which arises from our lack of information, uncertainty and incomplete knowledge of reality, which forbids a perfect prediction of future price changes. Despite of many advantages this tool is not known and is not widely used among investors on Warsaw Stock Exchange. The main reason for abandoning this method is a high level of complexity and immense calculations. The aim of this paper is to introduce an automatic decision - making system, which allows a single investor to use such complex methods of Modern Portfolio Theory (MPT). The key tool in MPT is an analysis of an empirical covariance matrix. This matrix, obtained from historical data is biased by such a high amount of statistical uncertainty, that it can be seen as random. By bringing into practice the ideas of Random Matrix Theory (RMT), the noise is removed or significantly reduced, so the future risk and return are b...

  6. Enhancing reliability in portfolio assessment: 'shaping' the portfolio.

    Science.gov (United States)

    Pitts, John; Coles, Colin; Thomas, Peter

    2001-07-01

    This paper reports a follow-on project that assessed a series of portfolios assembled by a cohort of participants attending a course for prospective general practice trainers. In an attempt to enhance reliability, a framework for defining and addressing problems using a reflective practice model was offered to participants. The reliability of the judgements made by a panel of assessors about individual 'components', together with an overall global judgement about performance were studied. The reliability of individual assessors' judgements (i.e. their consistency) was moderate, but inter-rater reliability did not reach a level that could support making a safe summative judgement. Despite offering a possible structure for demonstrating reflective processes, the levels of reliability reached were similar to the earlier work and other subjective assessments generally, and perhaps reflected individuality of personal agendas of both the assessed and the assessors, and variations in portfolio structure and content; even agreement among the assessors about evidence of the framework being used was poor. Suggestions for approaches in the future are made. The conclusion remains that while portfolios might be valuable as resources for learning, as assessment tools they should be treated as problematic.

  7. Reliability of Portfolio: A Closer Look at Findings from Recent Publications

    Science.gov (United States)

    Oskay, Ozge Ozyalcin; Schallies, Michael; Morgil, Inci

    2008-01-01

    In this review article, conventional portfolio assessment and new developments in portfolio assessment are investigated. The concept of portfolio, portfolio building steps, contents of portfolio, evaluation of portfolio, advantages, disadvantages and concerns in using portfolio as well as validity and reliability of portfolio assessment are…

  8. Optimization modeling of U.S. renewable electricity deployment using local input variables

    Science.gov (United States)

    Bernstein, Adam

    For the past five years, state Renewable Portfolio Standard (RPS) laws have been a primary driver of renewable electricity (RE) deployments in the United States. However, four key trends currently developing: (i) lower natural gas prices, (ii) slower growth in electricity demand, (iii) challenges of system balancing intermittent RE within the U.S. transmission regions, and (iv) fewer economical sites for RE development, may limit the efficacy of RPS laws over the remainder of the current RPS statutes' lifetime. An outsized proportion of U.S. RE build occurs in a small number of favorable locations, increasing the effects of these variables on marginal RE capacity additions. A state-by-state analysis is necessary to study the U.S. electric sector and to generate technology specific generation forecasts. We used LP optimization modeling similar to the National Renewable Energy Laboratory (NREL) Renewable Energy Development System (ReEDS) to forecast RE deployment across the 8 U.S. states with the largest electricity load, and found state-level RE projections to Year 2031 significantly lower than thoseimplied in the Energy Information Administration (EIA) 2013 Annual Energy Outlook forecast. Additionally, the majority of states do not achieve their RPS targets in our forecast. Combined with the tendency of prior research and RE forecasts to focus on larger national and global scale models, we posit that further bottom-up state and local analysis is needed for more accurate policy assessment, forecasting, and ongoing revision of variables as parameter values evolve through time. Current optimization software eliminates much of the need for algorithm coding and programming, allowing for rapid model construction and updating across many customized state and local RE parameters. Further, our results can be tested against the empirical outcomes that will be observed over the coming years, and the forecast deviation from the actuals can be attributed to discrete parameter

  9. Nuclear-Renewable Hybrid Energy Systems: 2016 Technology Development Program Plan

    Energy Technology Data Exchange (ETDEWEB)

    Bragg-Sitton, Shannon M. [Idaho National Lab. (INL), Idaho Falls, ID (United States); Boardman, Richard [Idaho National Lab. (INL), Idaho Falls, ID (United States); Rabiti, Cristian [Idaho National Lab. (INL), Idaho Falls, ID (United States); Suk Kim, Jong [Idaho National Lab. (INL), Idaho Falls, ID (United States); McKellar, Michael [Idaho National Lab. (INL), Idaho Falls, ID (United States); Sabharwall, Piyush [Idaho National Lab. (INL), Idaho Falls, ID (United States); Chen, Jun [Idaho National Lab. (INL), Idaho Falls, ID (United States); Cetiner, M. Sacit [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Harrison, T. Jay [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Qualls, A. Lou [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)

    2016-03-01

    The United States is in the midst of an energy revolution, spurred by advancement of technology to produce unprecedented supplies of oil and natural gas. Simultaneously, there is an increasing concern for climate change attributed to greenhouse gas (GHG) emissions that, in large part, result from burning fossil fuels. An international consensus has concluded that the U.S. and other developed nations have an imperative to reduce GHG emissions to address these climate change concerns. The global desire to reduce GHG emissions has led to the development and deployment of clean energy resources and technologies, particularly renewable energy technologies, at a rapid rate. At the same time, each of the major energy sectors—the electric grid, industrial manufacturing, transportation, and the residential/commercial consumers— is increasingly becoming linked through information and communications technologies, advanced modeling and simulation, and controls. Coordination of clean energy generation technologies through integrated hybrid energy systems, as defined below, has the potential to further revolutionize energy services at the system level by coordinating the exchange of energy currency among the energy sectors in a manner that optimizes financial efficiency (including capital investments), maximizes thermodynamic efficiency (through best use of exergy, which is the potential to use the available energy in producing energy services), reduces environmental impacts when clean energy inputs are maximized, and provides resources for grid management. Rapid buildout of renewable technologies has been largely driven by local, state, and federal policies, such as renewable portfolio standards and production tax credits that incentivize investment in these generation sources. A foundational assumption within this program plan is that renewable technologies will continue to be major contributors to the future U.S. energy infrastructure. While increased use of clean

  10. Portfolios, the Pied Piper of Teacher Certification Assessments: Legal and Psychometric Issues

    Directory of Open Access Journals (Sweden)

    Judy R. Wilkerson

    2003-12-01

    Full Text Available Since about 90% of schools, colleges, and departments of education are currently using portfolios of one form or another as decision-making tools for standards-based decisions regarding certification or licensure (as well as NCATE accreditation, it is appropriate to explore the legal and psychometric aspects of this assessment device. The authors demonstrate that portfolios being used in a high-stakes context are technically testing devices and therefore need to meet psychometric standards of validity, reliability, fairness, and absence of bias. These standards, along with federal law, form the cornerstone for legal challenges to high-stakes decisions when students are denied a diploma or license based on the results of the assessment. The conclusion includes a list of requirements and caveats for using portfolios for graduation and certification decisions in a standards-based environment that help institutions reduce exposure to potential litigation.

  11. Portfolio Diversification with Commodity Futures: Properties of Levered Futures

    NARCIS (Netherlands)

    Woodard, J.D.; Egelkraut, T.M.; Garcia, P.; Pennings, J.M.E.

    2005-01-01

    Portfolio Diversification with Commodity Futures: Properties of Levered Futures This study extends previous work on the impact of commodity futures on portfolio performance by explicitly incorporating levered futures into the portfolio optimization problem. Using data on nine individual commodity

  12. Portfolio Diversification with Commodity Futures: Properties of Levered Futures

    NARCIS (Netherlands)

    Woodard, J.D.; Egelkraut, T.M.; Garcia, P.; Pennings, J.M.E.

    2005-01-01

    Portfolio Diversification with Commodity Futures: Properties of Levered Futures This study extends previous work on the impact of commodity futures on portfolio performance by explicitly incorporating levered futures into the portfolio optimization problem. Using data on nine individual commodity fu

  13. 12 CFR 702.104 - Risk portfolios defined.

    Science.gov (United States)

    2010-01-01

    ... CORRECTIVE ACTION Net Worth Classification § 702.104 Risk portfolios defined. A risk portfolio is a portfolio....20; and (h) Allowance. The Allowance for Loan and Lease Losses not to exceed the equivalent of...

  14. Investment Portfolio Evaluation by the Fuzzy Approach

    Directory of Open Access Journals (Sweden)

    Lambovska Maya

    2011-09-01

    Full Text Available This paper presents a new fuzzy approach for the evaluation of investment portfolio, where the approach is viewed by the authors as a sub-phase of the management process of these portfolios. The approach defines the mutual and delayed effects among the significant variables of the investment portfolio. The evaluation of the effects is described as fuzzy trapezoidal numbers and they are aggregated by mathematical operations with incidence matrices and fuzzy functions “experton”.

  15. Analysis of the Capability Portfolio Review (CPR)

    Science.gov (United States)

    2014-06-01

    TRAC-M-TR-14-021 June 2014 Analysis of the Capability Portfolio Review ( CPR ) TRADOC Analysis Center 700...INTENTIONALLY LEFT BLANK TRAC-M-TR-14-021 June 2014 Analysis of the Capability Portfolio Review ( CPR ) Authors LTC Thomas Deveans...4. TITLE AND SUBTITLE Analysis of the Capability Portfolio Review ( CPR ) 5. PROJECT NUMBERS TRAC Project Code 060097 6. AUTHOR(S) LTC Deveans

  16. Portfolio-based learning and assessment.

    Science.gov (United States)

    Joshi, Mohit Kumar; Gupta, Piyush; Singh, Tejinder

    2015-03-08

    Assessment using portfolios has recently gained wider acceptance, and is being considered relevant to several educational aspects in medicine, including formative and summative assessment during resident training, revalidation and continuing professional development. In this article, we provide an overview of the use of portfolio as an assessment and learning tool. We have discussed the rationale of using portfolio in medical education, its advantages and criticisms, and some of the associated challenges and dilemmas.

  17. A Relationship Strategy Perspective on Relationship Portfolios

    DEFF Research Database (Denmark)

    Ritter, Thomas; Andersen, Henrik

    2014-01-01

    The paper develops a three-dimensional portfolio model for business relationships which distinguishes among six different categories. Based on assessments of customer profitability, customer commitment, and growth potential, the positioning of a given customer relationship in the portfolio allows...... managers to determine appropriate customer relationship strategies and appropriate performance indicators. Results from applying the portfolio model are reported and managerial implications and future research are discussed....

  18. Learning portfolios: giving meaning to practice.

    Science.gov (United States)

    Cangelosi, Pamela R

    2008-01-01

    Learning portfolios are gaining acceptance in nursing education as a viable way to individualize student learning and evaluate outcomes. Traditionally, portfolios have documented learning that has already occurred. This article describes how the design of a learning portfolio for nurse educator students provided greater insight into their new practice of teaching by assisting in both the reflection of their previous experiences and the visualization of their first teaching position.

  19. Risk-Factor Portfolios and Financial Stability

    OpenAIRE

    Garita, Gus

    2009-01-01

    This paper defines a risk-stability index (RSI) that takes into account the extreme dependence structure and the conditional probability of joint failure (CPJF) among risk factors in a portfolio. In combination, both the RSI and CPJF provide a valuable tool for analyzing risk from complementary perspectives; thereby allowing the measurement of (i) common distress of risk factors in a portfolio, (ii) distress between specific risk factors, and (iii) distress to a portfolio related to a specifi...

  20. Currency hedging for international portfolios

    OpenAIRE

    Jochen M. Schmittmann

    2012-01-01

    This paper examines the benefits from hedging the currency exposure of international investments in single- and multi-country equity and bond portfolios from the perspectives of German, Japanese, British and American investors. Over the period 1975 to 2009, hedging of currency risk substantially reduced the volatility of foreign investments at a quarterly investment horizon. Contrary to previous studies, the paper finds that at longer investment horizons of up to five years the case for hedgi...

  1. Create Better Diversified High-Conviction Equity Portfolios using the Portfolio Diversification Index

    NARCIS (Netherlands)

    D.P. Crezée (Dominiek); L.A.P. Swinkels (Laurens)

    2010-01-01

    textabstractWe investigate the construction of well-diversified high-conviction equity portfolios, building on Rudin and Morgan (2006) who introduced the Portfolio Diversification Index (PDI) as a new measure of portfolio diversification applied to long/short equity hedge funds in an in-sample

  2. Create Better Diversified High-Conviction Equity Portfolios using the Portfolio Diversification Index

    NARCIS (Netherlands)

    D.P. Crezée (Dominiek); L.A.P. Swinkels (Laurens)

    2010-01-01

    textabstractWe investigate the construction of well-diversified high-conviction equity portfolios, building on Rudin and Morgan (2006) who introduced the Portfolio Diversification Index (PDI) as a new measure of portfolio diversification applied to long/short equity hedge funds in an in-sample perio

  3. From an e-Portfolio Model to e-Portfolio Practices: Some Guidelines

    Science.gov (United States)

    Rossi, Pier Giuseppe; Magnoler, Patrizia; Giannandrea, Lorella

    2008-01-01

    Purpose: An e-portfolio is a useful tool to increase reflection and awareness in teachers and students. However, benefits of e-portfolio use are weakened by difficulties due to the lack of motivation, the heavy weight of creation and revision of the e-portfolios, the rigid tool structure. The paper aims to answer these emerging issues, showing how…

  4. Putting renewables and energy efficiency to work: How many jobs can the clean energy industry generate in the US?

    Energy Technology Data Exchange (ETDEWEB)

    Wei, Max; Kammen, Daniel M. [Energy and Resources Group, 310 Barrows Hall 3050, University of California, Berkeley, CA 94720-3050 (United States); Patadia, Shana [Haas School of Business, University of California, Berkeley, CA 94720 (United States)

    2010-02-15

    An analytical job creation model for the US power sector from 2009 to 2030 is presented. The model synthesizes data from 15 job studies covering renewable energy (RE), energy efficiency (EE), carbon capture and storage (CCS) and nuclear power. The paper employs a consistent methodology of normalizing job data to average employment per unit energy produced over plant lifetime. Job losses in the coal and natural gas industry are modeled to project net employment impacts. Benefits and drawbacks of the methodology are assessed and the resulting model is used for job projections under various renewable portfolio standards (RPS), EE, and low carbon energy scenarios We find that all non-fossil fuel technologies (renewable energy, EE, low carbon) create more jobs per unit energy than coal and natural gas. Aggressive EE measures combined with a 30% RPS target in 2030 can generate over 4 million full-time-equivalent job-years by 2030 while increasing nuclear power to 25% and CCS to 10% of overall generation in 2030 can yield an additional 500,000 job-years. (author)

  5. Portfolio optimisation with Equally-weighted risk contributions strategy

    OpenAIRE

    Kladnik, Tina

    2009-01-01

    Markowitz has lifted portfolio theory to scientific level by introducing mean-variance framework. Minimum Variance portfolio, unique portfolio on the mean-variance efficient portfolio, has attracted a lot of interest as it is independent of returns expectations. However, the approach has plenty of limitations. Maillard et al (2009) have presented related approach of Equally-weighted Risk Contributions (ERC) portfolio strategy, where risk contributions of the various portfolio components a...

  6. Portfolio selection and asset pricing under a benchmark approach

    Science.gov (United States)

    Platen, Eckhard

    2006-10-01

    The paper presents classical and new results on portfolio optimization, as well as the fair pricing concept for derivative pricing under the benchmark approach. The growth optimal portfolio is shown to be a central object in a market model. It links asset pricing and portfolio optimization. The paper argues that the market portfolio is a proxy of the growth optimal portfolio. By choosing the drift of the discounted growth optimal portfolio as parameter process, one obtains a realistic theoretical market dynamics.

  7. An Electronic Portfolio to Support Learning

    Directory of Open Access Journals (Sweden)

    Anne Wade

    2005-10-01

    Full Text Available n this paper, we provide a description of a CSLP research project that looked at portfolio use within a middle school, the web-based e-portfolio software we have developed within the context of the Quebec educational system, our plans for further development of the tool, and our research plans related to the use of portfolios to support learning. Our aim is to combine research evidence on portfolio use with practical feedback from the field in an attempt to develop easy-to-use, powerful software designed to support active self-regulated student learning in schools.

  8. Performance Evaluation of Portfolios with Margin Requirements

    Directory of Open Access Journals (Sweden)

    Hui Ding

    2014-01-01

    Full Text Available In financial markets, short sellers will be required to post margin to cover possible losses in case the prices of the risky assets go up. Only a few studies focus on the optimization and performance evaluation of portfolios in the presence of margin requirements. In this paper, we investigate the theoretical foundation of DEA (data envelopment analysis approach to evaluate the performance of portfolios with margin requirements from a different perspective. Under the mean-variance framework, we construct the optimization model and portfolio possibility set on considering margin requirements. The convexity of the portfolio possibility set is proved and the concept of efficiency in classical economics is extended to the portfolio case. The DEA models are then developed to evaluate the performance of portfolios with margin requirements. Through the simulations carried out in the end, we show that, with adequate portfolios, DEA can be used as an effective tool in computing the efficiencies of portfolios with margin requirements for the performance evaluation purpose. This study can be viewed as a justification of DEA into performance evaluation of portfolios with margin requirements.

  9. Final report. Renewable energy and energy efficiency in Mexico: Barriers and opportunities

    Energy Technology Data Exchange (ETDEWEB)

    Ashford, Mike

    2000-09-28

    The report describes the prospects for energy efficiency and greenhouse gas emissions reductions in Mexico, along with renewable energy potential. A methodology for developing emissions baselines is shown, in order to prepare project emissions reductions calculations. An application to the USIJI program was also prepared through this project, for a portfolio of energy efficiency projects.

  10. REPORT OF THE RENEWABLE ENERGY SUBCOMMITTEE

    National Research Council Canada - National Science Library

    2017-01-01

    ...) develop a Clean Energy Standard to meet New York's 50% renewable energy plan by 2030.28 Furthermore, the Governor directed DPS to find solutions to keep emission-free nuclear power facilities operational to reduce greenhouse gas emissions...

  11. Development of a web database portfolio system with PACS connectivity for undergraduate health education and continuing professional development.

    Science.gov (United States)

    Ng, Curtise K C; White, Peter; McKay, Janice C

    2009-04-01

    Increasingly, the use of web database portfolio systems is noted in medical and health education, and for continuing professional development (CPD). However, the functions of existing systems are not always aligned with the corresponding pedagogy and hence reflection is often lost. This paper presents the development of a tailored web database portfolio system with Picture Archiving and Communication System (PACS) connectivity, which is based on the portfolio pedagogy. Following a pre-determined portfolio framework, a system model with the components of web, database and mail servers, server side scripts, and a Query/Retrieve (Q/R) broker for conversion between Hypertext Transfer Protocol (HTTP) requests and Q/R service class of Digital Imaging and Communication in Medicine (DICOM) standard, is proposed. The system was piloted with seventy-seven volunteers. A tailored web database portfolio system (http://radep.hti.polyu.edu.hk) was developed. Technological arrangements for reinforcing portfolio pedagogy include popup windows (reminders) with guidelines and probing questions of 'collect', 'select' and 'reflect' on evidence of development/experience, limitation in the number of files (evidence) to be uploaded, the 'Evidence Insertion' functionality to link the individual uploaded artifacts with reflective writing, capability to accommodate diversity of contents and convenient interfaces for reviewing portfolios and communication. Evidence to date suggests the system supports users to build their portfolios with sound hypertext reflection under a facilitator's guidance, and with reviewers to monitor students' progress providing feedback and comments online in a programme-wide situation.

  12. Who Owns Renewable Energy Certificates? An Exploration of PolicyOptions and Practice

    Energy Technology Data Exchange (ETDEWEB)

    Holt, Edward A.; Wiser, Ryan; Bolinger, Mark

    2006-04-05

    Renewable energy certificates (RECs) represent the bundle of information that describes the characteristics of renewable electricity generation, and may be (and increasingly are) sold separately from the underlying electricity itself. RECs are a relatively new phenomenon, emerging as a tradable commodity in voluntary markets in the late 1990s, and gaining strength as a means of compliance with various state policy requirements affecting renewable generation in the early 2000s (Holt and Bird 2005). Twenty states and Washington, D.C. now have mandatory renewables portfolio standard (RPS) obligations, and most of these may be satisfied by owning and retiring RECs. Many states also have fuel source and emissions disclosure requirements, for which RECs are useful. Even where state policy does not allow unbundled and fully tradable RECs to meet these requirements, RECs may still be used as an accounting and verification tool (REC tracking systems are in place or under development in many regions of the U.S.). These applications, plus REC trading activity in support of voluntary green claims, give rise to potential ''double counting'' to the extent that the purchaser of the RECs and the purchaser of the underlying electricity both make claims to the renewable energy attributes of the facility in question (Hamrin and Wingate 2003). When renewable electricity is sold and purchased, an important question therefore arises: ''Who owns the RECs created by the generation of renewable energy?'' In voluntary transactions, most agree that the question of REC ownership can and should be negotiated between the buyer and the seller privately, and should be clearly established by contract. Claims about purchasing renewable energy should only be made if REC ownership can be documented. In many other cases, however, renewable energy transactions are either mandated or encouraged through state or federal policy. In these cases, the issue of REC

  13. Political processes and variation in renewable energy policies between U.S. states

    Science.gov (United States)

    Vasseur, Michael

    Over the past forty years federal efforts at renewable energy policy in the United States have been fragmented and are largely stalled. This is much different from U.S. states, which enact a diverse array of renewable energy policies. What factors explain this subnational variation? Addressing this question requires moving past the standard model of binary policy adoption that dominates studies of renewable energy policy. In its place I provide analyses of multifaceted policy outcomes, and also include predictors from a more inclusive view of politics than the standard economic and political interest factors. These additions to the standard energy policy model shed light not just on when states take policy action, but also on the content of the policies states ultimately adopt. In this dissertation I argue that different combinations of state-level political and economic characteristics influence policy adoption and policy content, a fact that is obscured by analysis of only binary policy action. I demonstrate this through three empirical projects that utilize an original longitudinal dataset and a variety of quantitative methods. The first project examines the diffusion of two varieties of a single regulatory policy instrument within a political context. I demonstrate that, contrary to most diffusion studies, policy adoption should be thought of as a multifaceted process, with separate factors determining the impetus for action and others shaping the content of the policy. My second project examines the role of economic, political, institutional, and cultural factors on a state's portfolio of policies. This work extends findings from prior literature on tax policies and incorporates institutional and cultural accounts of policy adoption into the study of renewable energy policy. I show that state economic and political factors, the predictors in traditional energy policy models, predict policy action but not policy content. Instead it is a state's cultural context

  14. Mean-Variance Efficiency of the Market Portfolio

    Directory of Open Access Journals (Sweden)

    Rafael Falcão Noda

    2014-06-01

    Full Text Available The objective of this study is to answer the criticism to the CAPM based on findings that the market portfolio is far from the efficient frontier. We run a numeric optimization model, based on Brazilian stock market data from 2003 to 2012. For each asset, we obtain adjusted returns and standard deviations such that (i the efficient frontier intersects with the market portfolio and (ii the distance between the adjusted parameters and the sample parameters is minimized. We conclude that the adjusted parameters are not significantly different from the sample parameters, in line with the results of Levy and Roll (2010 for the USA stock market. Such results suggest that the imprecisions in the implementation of the CAPM stem mostly from parameter estimation errors and that other explanatory factors for returns may have low relevance. Therefore, our results contradict the above-mentioned criticisms to the CAPM in Brazil.

  15. 78 FR 65982 - Notice of Renewal of FASAB Charter

    Science.gov (United States)

    2013-11-04

    ... From the Federal Register Online via the Government Publishing Office FEDERAL ACCOUNTING STANDARDS ADVISORY BOARD Notice of Renewal of FASAB Charter AGENCY: Federal Accounting Standards Advisory Board... continue an advisory committee to consider and recommend accounting standards and principles for...

  16. 76 FR 71032 - Notice of Renewal of FASAB Charter

    Science.gov (United States)

    2011-11-16

    ... From the Federal Register Online via the Government Publishing Office FEDERAL ACCOUNTING STANDARDS ADVISORY BOARD Notice of Renewal of FASAB Charter AGENCY: Federal Accounting Standards Advisory Board... agreed to continue an advisory committee to consider and recommend accounting standards and...

  17. Renewable energy annual 1996

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-03-01

    This report presents summary data on renewable energy consumption, the status of each of the primary renewable technologies, a profile of each of the associated industries, an analysis of topical issues related to renewable energy, and information on renewable energy projects worldwide. It is the second in a series of annual reports on renewable energy. The renewable energy resources included in the report are biomass (wood and ethanol); municipal solid waste, including waste-to-energy and landfill gas; geothermal; wind; and solar energy, including solar thermal and photovoltaic. The report also includes various appendices and a glossary.

  18. Balancing Cost and Risk: The Treatment of Renewable Energy in Western Utility Resource Plans

    Energy Technology Data Exchange (ETDEWEB)

    Bolinger, Mark; Wiser, Ryan

    2005-08-10

    Markets for renewable energy have historically been motivated primarily by policy efforts, but a less widely recognized driver is poised to also play a major role in the coming years: utility integrated resource planning (IRP). Resource planning has re-emerged in recent years as an important tool for utilities and regulators, particularly in regions where retail competition has failed to take root. In the western United States, the most recent resource plans contemplate a significant amount of renewable energy additions. These planned additions--primarily coming from wind power--are motivated by the improved economics of wind power, a growing acceptance of wind by electric utilities, and an increasing recognition of the inherent risks (e.g., natural gas price risk, environmental compliance risk) in fossil-based generation portfolios. This report examines how twelve western utilities treat renewable energy in their recent resource plans. In aggregate, these utilities supply approximately half of all electricity demand in the western United States. Our purpose is twofold: (1) to highlight the growing importance of utility IRP as a current and future driver of renewable energy, and (2) to identify methodological/modeling issues, and suggest possible improvements to methods used to evaluate renewable energy as a resource option. Here we summarize the key findings of the report, beginning with a discussion of the planned renewable energy additions called for by the twelve utilities, an overview of how these plans incorporated renewables into candidate portfolios, and a review of the specific technology cost and performance assumptions they made, primarily for wind power. We then turn to the utilities' analysis of natural gas price and environmental compliance risks, and examine how the utilities traded off portfolio cost and risk in selecting a preferred portfolio.

  19. Academic portfolio in the digital era: organizing and maintaining a portfolio using reference managers.

    Science.gov (United States)

    Bhargava, Puneet; Patel, Vatsal B; Iyer, Ramesh S; Moshiri, Mariam; Robinson, Tracy J; Lall, Chandana; Heller, Matthew T

    2015-02-01

    The academic portfolio has become an integral part of the promotions process. Creating and maintaining an academic portfolio in paper-based or web-based formats can be a cumbersome and time-consuming task. In this article, we describe an alternative way to efficiently organize an academic portfolio using a reference manager software, and discuss some of the afforded advantages. The reference manager software Papers (Mekentosj, Amsterdam, The Netherlands) was used to create an academic portfolio. The article outlines the key steps in creating and maintaining a digital academic portfolio. Using reference manager software (Papers), we created an academic portfolio that allows the user to digitally organize clinical, teaching, and research accomplishments in an indexed library enabling efficient updating, rapid retrieval, and easy sharing. To our knowledge, this is the first digital portfolio of its kind.

  20. IT Portfolio Selection and IT Synergy

    Science.gov (United States)

    Cho, Woo Je

    2010-01-01

    This dissertation consists of three chapters. The primary objectives of this dissertation are: (1) to provide a methodological framework of IT (Information Technology) portfolio management, and (2) to identify the effect of IT synergy on IT portfolio selection of a firm. The first chapter presents a methodological framework for IT project…

  1. Using E-Portfolios and ESL Learners

    Science.gov (United States)

    Alawdat, Maha

    2013-01-01

    This study examines the use of e-portfolios for ESL (English as a second language) learners. The data were collected by reviewing 11 empirical studies from 2010-2012 in order to synthesize meaningful information about e-portfolios for ESL/EFL (English as a foreign language) acquisition. The studies were coded into two main categories: learning…

  2. Capstone Portfolios and Geography Student Learning Outcomes

    Science.gov (United States)

    Mossa, Joann

    2014-01-01

    Due to increasing demands regarding student learning outcomes and accreditation, a capstone portfolio was added to assess critical thinking and communication skills of geography majors at a large public university in the USA. The portfolio guidelines were designed to be adaptable to a flexible curriculum where about half of the requirements within…

  3. Optimization of the bank's operating portfolio

    Science.gov (United States)

    Borodachev, S. M.; Medvedev, M. A.

    2016-06-01

    The theory of efficient portfolios developed by Markowitz is used to optimize the structure of the types of financial operations of a bank (bank portfolio) in order to increase the profit and reduce the risk. The focus of this paper is to check the stability of the model to errors in the original data.

  4. Portfolio Manager Selection – A Case Study

    DEFF Research Database (Denmark)

    Christensen, Michael

    2017-01-01

    Within a delegated portfolio management setting, this paper presents a case study of how the manager selection process can be operationalized in practice. Investors have to pursue a thorough screening of potential portfolio managers in order to discover their quality, and this paper discusses how...

  5. Portfolio Diversification Effects of Downside Risk

    NARCIS (Netherlands)

    N. Hyung (Namwon); C.G. de Vries (Casper)

    2004-01-01

    textabstractRisk managers use portfolios to diversify away the un-priced risk of individual securities. In this paper we compare the benefits of portfolio diversification for downside risk in case returns are normally distributed with the case fat tailed distributed returns. The downside risk of a

  6. SunShot Initiative Portfolio Book 2014

    Energy Technology Data Exchange (ETDEWEB)

    Solar Energy Technologies Office

    2014-05-01

    The 2014 SunShot Initiative Portfolio Book outlines the progress towards the goals outlined in the SunShot Vision Study. Contents include overviews of each of SunShot’s five subprogram areas, as well as a description of every active project in the SunShot’s project portfolio as of May 2014.

  7. Grey Model of the Investment Portfolio Optimization

    Institute of Scientific and Technical Information of China (English)

    LI Qun

    2002-01-01

    The theory of investment portfolio is a very important theory in the modern economical system.Based on the feature of the theory, the paper sets up new various kinds of models of investment portfolio,namely grey optimization models. These models are more practical and objective to existing problems.

  8. The Professional Portfolio as Heuristic Methodology.

    Science.gov (United States)

    Luescher, Andreas

    2002-01-01

    Argues that the portfolio deserves at very least a re-evaluation throughout academic (to say nothing of quotidian) life as an indispensable tool of the spirit of pedagogy. Suggests that Portfolio Process as a class or seminar should be integrated into undergraduate curriculum. Notes that the goal of the course is to link technical design education…

  9. Optimal portfolio choice under loss aversion

    NARCIS (Netherlands)

    A.B. Berkelaar (Arjan); R.R.P. Kouwenberg (Roy)

    2000-01-01

    textabstractProspect theory and loss aversion play a dominant role in behavioral finance. In this paper we derive closed-form solutions for optimal portfolio choice under loss aversion. When confronted with gains a loss averse investor behaves similar to a portfolio insurer. When confronted with los

  10. [Role of the portfolio in skills assessment].

    Science.gov (United States)

    Berrahou, Zoulika; Roumanet, Marie-Cécile

    2013-05-01

    The portfolio is used in monitoring the student's pathway and in his or her assessment, a fundamental tool for the acquisition of skills. Chambéry hospital has created a tutoring training course and teams from the hospital and nurse training institute work closely together on the portfolio, the essential requirements and the assessment of students' practice during work placements.

  11. Integrating Web Portfolios into the Learning Process

    Science.gov (United States)

    D'Ambrosio, Jay

    2004-01-01

    Web portfolios should be integrated in the learning process as they encourage the students to take an active interest in their own learning and highlights the individual students, their interests and their goals, increases student motivation and provides an excellent method for teaching students. Implementation of Web portfolios could be made more…

  12. Optimal portfolio choice under loss aversion

    NARCIS (Netherlands)

    A.B. Berkelaar (Arjan); R.R.P. Kouwenberg (Roy)

    2000-01-01

    textabstractProspect theory and loss aversion play a dominant role in behavioral finance. In this paper we derive closed-form solutions for optimal portfolio choice under loss aversion. When confronted with gains a loss averse investor behaves similar to a portfolio insurer. When confronted with

  13. Optimal Portfolio Choice with Wash Sale Constraints

    DEFF Research Database (Denmark)

    Astrup Jensen, Bjarne; Marekwica, Marcel

    2011-01-01

    We analytically solve the portfolio choice problem in the presence of wash sale constraints in a two-period model with one risky asset. Our results show that wash sale constraints can heavily affect portfolio choice of investors with unrealized losses. The trading behavior of such investors...

  14. Robust portfolio selection under norm uncertainty

    Directory of Open Access Journals (Sweden)

    Lei Wang

    2016-06-01

    Full Text Available Abstract In this paper, we consider the robust portfolio selection problem which has a data uncertainty described by the ( p , w $(p,w$ -norm in the objective function. We show that the robust formulation of this problem is equivalent to a linear optimization problem. Moreover, we present some numerical results concerning our robust portfolio selection problem.

  15. On the Teaching of Portfolio Theory.

    Science.gov (United States)

    Biederman, Daniel K.

    1992-01-01

    Demonstrates how a simple portfolio problem expressed explicitly as an expected utility maximization problem can be used to instruct students in portfolio theory. Discusses risk aversion, decision making under uncertainty, and the limitations of the traditional mean variance approach. Suggests students may develop a greater appreciation of general…

  16. Portfolio Assessment: Direct from the Classroom

    Science.gov (United States)

    McDonald, Betty

    2012-01-01

    Portfolios have been regarded as a means of personal self-expression. This study reports on student real-life experiences with portfolio assessment. The focus group comprised 150 freshmen (100 females) from a small campus of a tertiary educational institution. For two semesters (approximately 30 weeks), students engaged in numerous activities…

  17. Portfolio Diversification Effects of Downside Risk

    NARCIS (Netherlands)

    N. Hyung (Namwon); C.G. de Vries (Casper)

    2004-01-01

    textabstractRisk managers use portfolios to diversify away the un-priced risk of individual securities. In this paper we compare the benefits of portfolio diversification for downside risk in case returns are normally distributed with the case fat tailed distributed returns. The downside risk of a s

  18. The Benefits of Developing a Professional Portfolio

    Science.gov (United States)

    Priest, Cheryl

    2010-01-01

    The author's years of work with preservice early childhood teachers, new professionals, and organizations that recruit beginning professionals have helped her identify key activities and documents to be incorporated into a professional portfolio. A well-organized portfolio can help newer practitioners effectively express their beliefs and…

  19. Career Portfolios. Practice Application Brief No. 13.

    Science.gov (United States)

    Wonacott, Michael E.

    Career portfolios contain evidence of individuals' knowledge and skills and are useful tools in job search and career change, especially now that employers want generalizable workplace skills not well portrayed by traditional means and students are often inept at communicating their skills and knowledge to employers. Career portfolios contain and…

  20. Unlocking ePortfolio Practice: Teaching Beliefs

    Science.gov (United States)

    Henscheid, Jean M.; Brown, Gary; Gordon, Aifang; Chen, Helen L.

    2014-01-01

    The Association for Authentic, Experiential, and Evidence-Based Learning (AAEEBL) annual ePortfolio survey focuses on understanding ePortfolio practitioners' teaching beliefs and practices. The action research reported here extends that survey research to a population of emerging educators (i.e., graduate students in education). In addition to…

  1. Portfolio Assessment Handbook. 1990-91.

    Science.gov (United States)

    Thomas A. Edison State Coll., Trenton, NJ.

    This handbook gives the adult student information to complete portfolios that are designed to help adult students earn college credits for outside experience. Portfolio assessment is a flexible and efficient way to earn college credit. Nearly any area of learning can be converted into credits as long as it is taught at a regionally accredited…

  2. Transaction costs and efficiency of portfolio strategies

    NARCIS (Netherlands)

    A.A.J. Pelsser (Antoon); A.C.F. Vorst (Ton)

    1996-01-01

    textabstractSome recent results for frictionless economies show that popular dynamic portfolio strategies such as stop-loss and lock-in are inefficient. I.e. for each of these strategies there exists an alternative portfolio strategy that gives the same final payoff distribution at lower initial

  3. Essays on intertemporal consumption and portfolio choice

    NARCIS (Netherlands)

    van Bilsen, Servaas

    2015-01-01

    This dissertation consists of two parts, preceded by an introductory chapter. Part I (Chapters 2, 3 and 4) considers optimal consumption and portfolio choice using preference models. Chapter 2 analyzes optimal consumption and portfolio choice under loss aversion and endogenous updating of the refere

  4. Managing R&D Alliance Portfolios

    DEFF Research Database (Denmark)

    Engel Nielsen, Lars; Mahnke, Volker

    2003-01-01

    be observed in several companies engaged in the cross section of telecommunication and mobile technology where increased complexity magnifies managerial challenges. Drawing on modern portfolio theory, this paper offers a model for managing portfolios of R&D alliances. In particular, an analysis...

  5. VAR Portfolio Optimal: Perbandingan Antara Metode Markowitz dan Mean Absolute Deviation

    Directory of Open Access Journals (Sweden)

    R. Agus Sartono

    2009-05-01

    Full Text Available Portfolio selection method which have been introduced by Harry Markowitz (1952 used variance or deviation standard as a measure of risk. Kanno and Yamazaki (1991 introduced another method and used mean absolute deviation as a measure of risk instead of variance. The Value-at Risk (VaR is a relatively new method to capitalized risk that been used by financial institutions. The aim of this research is compare between mean variance and mean absolute deviation of two portfolios. Next, we attempt to assess the VaR of two portfolios using delta normal method and historical simulation. We use the secondary data from the Jakarta Stock Exchange – LQ45 during 2003. We find that there is a weak-positive correlation between deviation standard and return in both portfolios. The VaR nolmal delta based on mean absolute deviation method eventually is higher than the VaR normal delta based on mean variance method. However, based on the historical simulation the VaR of two methods is statistically insignificant. Thus, the deviation standard is sufficient measures of portfolio risk.Keywords: optimalisasi portofolio, mean-variance, mean-absolute deviation, value-at-risk, metode delta normal, metode simulasi historis

  6. Renewable Energy Certificates (RECs)

    Science.gov (United States)

    Renewable Energy Certificates (RECs), are tradable, non-tangible energy commodities in the United States that represent proof that 1 megawatt-hour (MWh) of electricity was generated from an eligible renewable energy resource.

  7. Universal portfolios generated by weakly stationary processes

    Science.gov (United States)

    Tan, Choon Peng; Pang, Sook Theng

    2014-12-01

    Recently, a universal portfolio generated by a set of independent Brownian motions where a finite number of past stock prices are weighted by the moments of the multivariate normal distribution is introduced and studied. The multivariate normal moments as polynomials in time consequently lead to a constant rebalanced portfolio depending on the drift coefficients of the Brownian motions. For a weakly stationary process, a different type of universal portfolio is proposed where the weights on the stock prices depend only on the time differences of the stock prices. An empirical study is conducted on the returns achieved by the universal portfolios generated by the Ornstein-Uhlenbeck process on selected stock-price data sets. Promising results are demonstrated for increasing the wealth of the investor by using the weakly-stationary-process-generated universal portfolios.

  8. Student evaluations of the portfolio process.

    Science.gov (United States)

    Murphy, John E; Airey, Tatum C; Bisso, Andrea M; Slack, Marion K

    2011-09-10

    To evaluate pharmacy students' perceived benefits of the portfolio process and to gather suggestions for improving the process. A questionnaire was designed and administered to 250 first-, second-, and third-year pharmacy students at the University of Arizona College of Pharmacy. Although the objectives of the portfolio process were for students to understand the expected outcomes, understand the impact of extracurricular activities on attaining competencies, identify what should be learned, identify their strengths and weaknesses, and modify their approach to learning, overall students perceived the portfolio process as having less than moderate benefit. First-year students wanted more examples of portfolios while second- and third-year students suggested that more time with their advisor would be beneficial. The portfolio process will continue to be refined and efforts made to improve students' perceptions of the process as it is intended to develop the self-assessments skills they will need to improve their knowledge and professional skills throughout their pharmacy careers.

  9. The Markowitz model for portfolio selection

    Directory of Open Access Journals (Sweden)

    MARIAN ZUBIA ZUBIAURRE

    2002-06-01

    Full Text Available Since its first appearance, The Markowitz model for portfolio selection has been a basic theoretical reference, opening several new development options. However, practically it has not been used among portfolio managers and investment analysts in spite of its success in the theoretical field. With our paper we would like to show how The Markowitz model may be of great help in real stock markets. Through an empirical study we want to verify the capability of Markowitz’s model to present portfolios with higher profitability and lower risk than the portfolio represented by IBEX-35 and IGBM indexes. Furthermore, we want to test suggested efficiency of these indexes as representatives of market theoretical-portfolio.

  10. Portfolio optimization in electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Liu, Min [Faculty of Electrical Engineering, Guizhou University, Guiyang, Guizhou 550003 (China); Wu, Felix F. [Department of Electrical and Electronic Engineering, The University of Hong Kong (China)

    2007-06-15

    In a competitive electricity market, Generation companies (Gencos) face price risk and delivery risk that affect their profitability. Risk management is an important and essential part in the Genco's decision making. In this paper, risk management through diversification is considered. The problem of energy allocation between spot markets and bilateral contracts is formulated as a general portfolio optimization problem with a risk-free asset and n risky assets. Historical data of the PJM electricity market are used to demonstrate the approach. (author)

  11. LEARNER REFLECTION IN PORTFOLIO ASSESSMENT

    Institute of Scientific and Technical Information of China (English)

    2001-01-01

    The traditional English teaching method makes students feeltoo serious,nervous and formal.Learner reflection in portfolioassessment can increase opportunities for dialogues betweenteachers and students about curriculum goals and learnerprogress,which is very important to provide a healthy,harmonious and democratic situation in English teaching forstudents.This paper analyses some benefits of learner reflectionin portfolios and focuses on how to design reflective tasks for theportfolio.It is obvious that learner reflection is good for bothteachers and students to improve their teaching and studyingmethods as well as to enhance the teaching quality.

  12. Parallel execution of portfolio optimization

    CERN Document Server

    Nuriyev, R

    2008-01-01

    Analysis of asset liability management (ALM) strategies especially for long term horizon is a crucial issue for banks, funds and insurance companies. Modern economic models, investment strategies and optimization criteria make ALM studies computationally very intensive task. It attracts attention to multiprocessor system and especially to the cheapest one: multi core PCs and PC clusters. In this article we are analyzing problem of parallel organization of portfolio optimization, results of using clusters for optimization and the most efficient cluster architecture for these kinds of tasks.

  13. A phase 3, randomized, double-blinded, active-controlled, unblinded standard of care study assessing the efficacy and safety of intramyocardial autologous CD34+ cell administration in patients with refractory angina: design of the RENEW study.

    Science.gov (United States)

    Povsic, Thomas J; Junge, Candice; Nada, Adel; Schatz, Richard A; Harrington, Robert A; Davidson, Charles J; Fortuin, F David; Kereiakes, Dean J; Mendelsohn, Farrell O; Sherman, Warren; Schaer, Gary L; White, Christopher J; Stewart, Duncan; Story, Kenneth; Losordo, Douglas W; Henry, Timothy D

    2013-06-01

    Preclinical trials indicate that CD34+ cells represent an effective angiogenic stem cell component. Early-phase clinical trials suggest that intramyocardial administration of autologous CD34+ cells may improve functional capacity and symptoms of angina. RENEW is a pivotal phase 3 trial designed to determine the efficacy of granulocyte colony-stimulating factor (G-CSF)-mobilized CD34+ stem cells for the treatment for patients with refractory angina and chronic myocardial ischemia. Patients (n = 444) receiving maximally tolerated antianginal therapies and lacking conventional revascularization options with Canadian Cardiovascular Society class III or IV angina and ischemia on stress testing will be randomized 2:1:1 to cell therapy (G-CSF-mediated stem cell mobilization, apheresis, and intramyocardial injection of 1 × 10(5) autologous CD34(+) cells/kg), active control (G-CSF-mediated stem cell mobilization, apheresis, and intramyocardial placebo injection), or open-label standard of care. The primary efficacy end point is change in exercise treadmill time in the treated vs active control patients, with 90% power to detect a 60-second difference in exercise time between cell-treated (n = 200) and active control (n = 100) patients. Key secondary end points include total number of anginal episodes per week and the incidence of independently adjudicated major adverse cardiac events and serious adverse events. RENEW will be the first adequately powered study aimed at definitively determining the efficacy of a cell therapy (intramyocardially delivered autologous CD34+ cells) for improvement of functional capacity in patients with refractory angina.

  14. REopt Screenings Catalyze Development of Hundreds of Megawatts of Renewable Energy for Federal Agencies

    Energy Technology Data Exchange (ETDEWEB)

    None

    2017-04-26

    The Federal Energy Management Program (FEMP) offers renewable energy project assistance to federal agencies, which often begins with a desktop screening to develop a prioritized portfolio of project opportunities. FEMP uses the National Renewable Energy Laboratory's REopt energy planning platform to screen potential renewable energy opportunities at a single site or across a range of sites. REopt helps organizations prioritize the most economi­cally and technically viable projects for further study and identifies the size and mix of technologies that meet the orga­nization's goals at minimum cost, along with the optimal operating strategies.

  15. Profiles in renewable energy: Case studies of successful utility-sector projects

    Energy Technology Data Exchange (ETDEWEB)

    Anson, S.; Sinclair, K.; Swezey, B.

    1993-10-01

    As considerations of fuel diversity, environmental concerns, and market uncertainties are increasingly factored into electric utility resource planning, renewable energy technologies are beginning to find their place in the utility resource portfolio. This document profiles 10 renewable energy projects, utilizing six different renewable resources, that were built in the US throughout the 1980s. The resources include: biomass, geothermal, hydropower, photovoltaics, solar thermal, and wind. For each project, the factors that were key to its success and the development issues that it faced are discussed, as are the project`s cost, performance, and environmental impacts and benefits.

  16. Teacher Portfolios, Vehicles of Faculty Assessment, Reflection, and Growth.

    Science.gov (United States)

    Ekbatani, Glayol; Pierson, Herbert

    Use of portfolios as a tool for English-as-a-Second-Language (ESL) teacher development and evaluation, using principles and practices borrowed from portfolio use to assess learner progress, is advocated. The origins of portfolios in art and other professions and their adaptation for teaching are outlined. The structure of such a portfolio is then…

  17. Assessment and Assurance of Learning Using E-Portfolios

    Science.gov (United States)

    Papp, Raymond

    2014-01-01

    Traditional paper portfolios have been used to assess student work for performance and employment purposes for decades. The advent of electronic portfolios incorporating audio, video, hyperlinked documents and scanned images takes the use of portfolios to a new level. Evaluators can use these easily accessible portfolios to gauge student…

  18. Portfolio Assessment: When Bad Things Happen to Good Ideas.

    Science.gov (United States)

    Dudley, Martha

    2001-01-01

    Notes that portfolios are a valuable classroom practice and one with many applications to the world students will enter when they leave the classroom, but the use of portfolios to assess distorts the concept and weakens its effectiveness. Discourages the use of portfolios for assessment. Concludes that portfolios are not about assessment; they are…

  19. Personal Theory and Reflection in a Professional Practice Portfolio

    Science.gov (United States)

    Jones, Elizabeth

    2010-01-01

    Portfolios are widely used in the assessment of professional learning. Although claims are made that portfolios promote reflection, the nature of such reflection and the mechanisms that promote it in the portfolio process are not well understood. A four-year action research project investigated a professional practice portfolio for high stakes…

  20. Constructing Zero-Beta VIX Portfolios with Dynamic CAPM

    OpenAIRE

    Chen, Jiaqi; Tindall, Michael

    2014-01-01

    This paper focuses on actively managed portfolios of VIX derivatives constructed to reduce portfolio correlation with the equity market. We find that the best results are obtained using Kalman filter-based dynamic CAPM. The portfolio construction method is capable of constructing zero-beta portfolios with positive alpha.

  1. PRODUCT PORTFOLIO ANALYSIS - ARTHUR D. LITTLE MATRIX

    Directory of Open Access Journals (Sweden)

    Curmei Catalin Valeriu

    2011-07-01

    Full Text Available In recent decades we have witnessed an unseen dynamism among companies, which is explained by their desire to engage in more activities that provide a high level of development and diversification. Thus, as companies are diversifying more and more, their managers confront a number of challenges arising from the management of resources for the product portfolio and the low level of resources with which companies can identify, at a time. Responding to these challenges, over time were developed a series of analytical product portfolio methods through which managers can balance the sources of cash flows from the multiple products and also can identify the place and role of products, in strategic terms, within the product portfolio. In order to identify these methods the authors of the present paper have conducted a desk research in order to analyze the strategic marketing and management literature of the last 2 decades. Widely were studied a series of methods that are presented in the marketing and management literature as the main instruments used within the product portfolio strategic planning process. Among these methods we focused on the Arthur D. Little matrix. Thus the present paper has the purpose to outline the characteristics and strategic implications of the ADL matrix within a company’s product portfolio. After conducting this analysis we have found that restricting the product portfolio analysis to the A.D.L. matrix is not a very wise decision. The A.D.L. matrix among with other marketing tools of product portfolio analysis have some advantages and disadvantages and is trying to provide, at a time, a specific diagnosis of a company’s product portfolio. Therefore, the recommendation for the Romanian managers consists in a combined use of a wide range of tools and techniques for product portfolio analysis. This leads to a better understanding of the whole mix of product markets, included in portfolio analysis, the strategic position

  2. Portfolio Optimization and Mortgage Choice

    Directory of Open Access Journals (Sweden)

    Maj-Britt Nordfang

    2017-01-01

    Full Text Available This paper studies the optimal mortgage choice of an investor in a simple bond market with a stochastic interest rate and access to term life insurance. The study is based on advances in stochastic control theory, which provides analytical solutions to portfolio problems with a stochastic interest rate. We derive the optimal portfolio of a mortgagor in a simple framework and formulate stylized versions of mortgage products offered in the market today. This allows us to analyze the optimal investment strategy in terms of optimal mortgage choice. We conclude that certain extreme investors optimally choose either a traditional fixed rate mortgage or an adjustable rate mortgage, while investors with moderate risk aversion and income prefer a mix of the two. By matching specific investor characteristics to existing mortgage products, our study provides a better understanding of the complex and yet restricted mortgage choice faced by many household investors. In addition, the simple analytical framework enables a detailed analysis of how changes to market, income and preference parameters affect the optimal mortgage choice.

  3. Mean-Variance portfolio optimization when each asset has individual uncertain exit-time

    Directory of Open Access Journals (Sweden)

    Reza Keykhaei

    2016-12-01

    Full Text Available The standard Markowitz Mean-Variance optimization model is a single-period portfolio selection approach where the exit-time (or the time-horizon is deterministic. ‎In this paper we study the Mean-Variance portfolio selection problem ‎with ‎uncertain ‎exit-time ‎when ‎each ‎has ‎individual uncertain ‎xit-time‎, ‎which generalizes the Markowitz's model‎. ‎‎‎‎‎‎We provide some conditions under which the optimal portfolio of the generalized problem is independent of the exit-times distributions. Also, ‎‎it is shown that under some general circumstances, the sets of optimal portfolios‎ ‎in the generalized model and the standard model are the same‎.

  4. Renewable energy annual 1995

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-12-01

    The Renewable Energy Annual 1995 is the first in an expected series of annual reports the Energy Information Administration (EIA) intends to publish to provide a comprehensive assessment of renewable energy. This report presents the following information on the history, status, and prospects of renewable energy data: estimates of renewable resources; characterizations of renewable energy technologies; descriptions of industry infrastructures for individual technologies; evaluations of current market status; and assessments of near-term prospects for market growth. An international section is included, as well as two feature articles that discuss issues of importance for renewable energy as a whole. The report also contains a number of technical appendices and a glossary. The renewable energy sources included are biomass (wood), municipal solid waste, biomass-derived liquid fuels, geothermal, wind, and solar and photovoltaic.

  5. THE MAIN PROBLEMS OF THE STUDENTS’ ELECTRONIC PORTFOLIO FORMATION IN TERMS OF THE HIGHER EDUCATIONAL PROGRAMS

    Directory of Open Access Journals (Sweden)

    Yulia V. Dementieva

    2016-01-01

    Full Text Available The aim of the study is the description of the main problems of formation of the student’s electronic portfolio in the conditions of realization of Federal State Educational Standards of the Higher Education (FSES of HE.Methods.Theoretical analysis of scientific literature concerning the subject under discussion; monitoring of existing practices in modern Russian Universities procedures for the formation and maintenance of students electronic portfolio.Results. The author describes the main problems of the electronic students’ portfolio formation; some ways of solving described problems are offered.Scientific novelty concludes in the formation of key ideas of the electronic students’ portfolio based on the understanding of requirements of Federal State Educational Standards of Higher Education for the results of mastering educational programs. They are the formation of general cultural, general professional and professional competences.Practical significance. The researching results will become the theoretical basis for the systematic organization of the process of creating and maintaining an electronic students’ portfolio during the whole period of their studying at the university; the researching results can become a basis for methodological developments.

  6. VT Renewable Energy Sites - Renewable Energy Professionals

    Data.gov (United States)

    Vermont Center for Geographic Information — (Link to Metadata) The Renewable Energy Atlas of Vermont and this dataset were created to assist town energy committees, the Clean Energy Development Fund and other...

  7. Renewable Energy: Policy Considerations for Deploying Renewables

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2011-07-01

    This information paper accompanies the IEA publication Deploying Renewables 2011: Best and Future Policy Practice (IEA, 2011a). It provides more detailed data and analysis on policies for Deploying Renewables, and is intended to complement the main publication. It provides an account of the strategic drivers underpinning renewable energy (RE) technology deployment (energy security, economic development and environment protection) and assesses RE technologies with respect to these drivers, including an estimate of GHG emissions reductions due to RE technologies. The paper also explores the different barriers to deploying renewables at a given stage of market maturity and discusses what tools policy makers can avail of to succeed in removing deployment barriers. An additional topical highlight explores the challenges associated with accelerating the diffusion of RE technologies in developing countries.

  8. PROJECT PORTFOLIO SELECTION COMPETENCES RESEARCH IN UNIVERSITIES OF LITHUANIA

    OpenAIRE

    Čiutienė, Ruta; Meilienė, Evelina; Neverauskas, Bronius

    2011-01-01

    As a result of the theoretical findings, the paper demonstrates that project portfolio selection is crucial project management problem. Successful Project Portfolio management requires specific competences. Every project of project portfolio must be evaluated according to the based criteria and parameters. Empirical study was based on framework matrix with four parameters of project portfolio selection and only two phases of project portfolio formation. The results of empirical study sh...

  9. The Role of Agribusiness Assets in Investment Portfolios

    OpenAIRE

    Johnson, Michael; Malcolm, Bill; O'Connor, Ian

    2006-01-01

    Investment in agribusiness assets has grown significantly in recent years. The question of interest is whether including agribusiness assets in investment portfolios provide benefits. The effects of diversification by including agribusiness assets in two investment portfolios, a mixed asset portfolio and a diversified share portfolio was investigated using Markowitz’s (1952) Modern Portfolio Theory (MPT) of mean-variance optimization. To measure the performance of agribusiness assets, an in...

  10. Diversified Portfolios with Jumps in a Benchmark Framework

    OpenAIRE

    Eckhard Platen

    2004-01-01

    This paper considers diversifed portfolios in a sequence of jump diffusion market models. Conditions for the approximation of the growth optimal portfolio (GOP) by diversified portfolios are provided. Under realistic assumptions, it is shown that diversified portfolios approximate the GOP without requiring any major model specifications. This provides a basis for systematic use of diversified stock indices as proxies for the GOP in derivative pricing, risk management and portfolio optimization.

  11. The Construction of the Performance Management Teaching Portfolio Evaluation System

    Institute of Scientific and Technical Information of China (English)

    范华

    2016-01-01

    Two of the evaluation, Teaching Portfolio and Performance Management, have being introduced in this article, in order to lead to the construction of the Performance Management Teaching Portfolio Evaluation System.The Performance Manage-ment Teaching Portfolio Evaluation System has advantages of both Teaching Portfolio and Performance Management. The arti-cle also also has listed the elements and some examples of the Performance Management Teaching Portfolio Evaluation System.

  12. The Role of Agribusiness Assets in Investment Portfolios

    OpenAIRE

    Johnson, Michael; Malcolm, Bill; O'Connor, Ian

    2006-01-01

    Investment in agribusiness assets has grown significantly in recent years. The question of interest is whether including agribusiness assets in investment portfolios provide benefits. The effects of diversification by including agribusiness assets in two investment portfolios, a mixed asset portfolio and a diversified share portfolio was investigated using Markowitz’s (1952) Modern Portfolio Theory (MPT) of mean-variance optimization. To measure the performance of agribusiness assets, an in...

  13. An MC2 Linear Programming Approaches to Portfolios

    Institute of Scientific and Technical Information of China (English)

    ZHOU Zong-fang; TANG Xiao-wo; SHI Yong

    2002-01-01

    Portfolios is a well-known investment technique of handling multiple stocks, bonds and securities. However, the previous portfolios investment lack of incorporating the various possible opinions from several experts on an given portfolios investment problem. This paper proposes an MC2 linear programming approach to determining weighted coefficients of portfolios that involves multiple experts. The numerical example of the paper shows that the proposed approach likely outperforms the current techniques of portfolios in dealing with the case of multiple experts.

  14. A new fuzzy multi-objective higher order moment portfolio selection model for diversified portfolios

    Science.gov (United States)

    Yue, Wei; Wang, Yuping

    2017-01-01

    Due to the important effect of the higher order moments to portfolio returns, the aim of this paper is to make use of the third and fourth moments for fuzzy multi-objective portfolio selection model. Firstly, in order to overcome the low diversity of the obtained solution set and lead to corner solutions for the conventional higher moment portfolio selection models, a new entropy function based on Minkowski measure is proposed as a new objective function and a novel fuzzy multi-objective weighted possibilistic higher order moment portfolio model is presented. Secondly, to solve the proposed model efficiently, a new multi-objective evolutionary algorithm is designed. Thirdly, several portfolio performance evaluation techniques are used to evaluate the performance of the portfolio models. Finally, some experiments are conducted by using the data of Shanghai Stock Exchange and the results indicate the efficiency and effectiveness of the proposed model and algorithm.

  15. Real-world datasets for portfolio selection and solutions of some stochastic dominance portfolio models

    Directory of Open Access Journals (Sweden)

    Renato Bruni

    2016-09-01

    We provide here several datasets for portfolio selection generated using real-world price values from several major stock markets. The datasets contain weekly return values, adjusted for dividends and for stock splits, which are cleaned from errors as much as possible. The datasets are available in different formats, and can be used as benchmarks for testing the performances of portfolio selection models and for comparing the efficiency of the algorithms used to solve them. We also provide, for these datasets, the portfolios obtained by several selection strategies based on Stochastic Dominance models (see “On Exact and Approximate Stochastic Dominance Strategies for Portfolio Selection” (Bruni et al. [2]. We believe that testing portfolio models on publicly available datasets greatly simplifies the comparison of the different portfolio selection strategies.

  16. Adapting portfolio theory for the evaluation of multiple investments in health with a multiplicative extension for treatment synergies.

    Science.gov (United States)

    Bridges, J F P; Stewart, M; King, M T; van Gool, K

    2002-01-01

    Portfolio theory is central to the analysis of risk in many areas of economics but is seldom used appropriately in health economics. This contribution examines the use of portfolio theory in the context of cost-effectiveness analysis (CEA). A number of modifications are needed to apply portfolio analysis to the economic evaluation of health care interventions. First, the method of reporting the results of a CEA, and consequently some of the underlying assumptions, needs to be modified. Second, portfolio theory needs to be expressed in terms of effects on individuals aggregated to a population. Finally, one needs to allow for the possibility of synergy between the various health interventions. This paper derives a general formula for a portfolio of health care interventions that allows for synergies between interventions where the population effects are aggregated from individual effects. A number of special cases are also derived to highlight the nature of the formulation of the modified portfolio theory. We conclude that, while modified portfolio theory adds a theoretical foundation to health care evaluations, it may not be operational until estimates of the correlation between interventions are available, and the question of uncertainty is resolved in health care evaluation. Also, while a synergy may be present at the individual level, when aggregated over a large population it may not be significant given the standard assumption of constant returns to scale.

  17. Technology Audit: Assessment of Innovative Portfolio

    Directory of Open Access Journals (Sweden)

    Kurushina Viktoria

    2016-01-01

    Full Text Available The article discusses the features of the technological audit performing in the companies of oil and gas sector of Russian economy. To measure the innovations quality level the scale was developed based on the Theory of Inventive Problem Solving and the theory of technological structures. Figures of the innovations quantity by levels, volume and quality of the innovative portfolio are offered for assessment the innovative portfolio quality. The method was tested on an example of oil and gas transporting enterprises. The results of the comparative analysis of innovative portfolio are shown.

  18. China's Outward Direct and Portfolio Investments

    Institute of Scientific and Technical Information of China (English)

    Hung-Gay Fung; Qingfeng Wilson Liu; Erin H. C. Kao

    2007-01-01

    This paper analyzes developments and trends related to China's outward direct and financial investments by examining Chinese firms' overseas acquisitions, China's holdings of US Treasury securities, and the recently formally launched Qualified Domestic Institutional Investor programs. Strategies should be developed to reach optimal decisions for both direct and portfolio investments. We argue that China should have a longer-term view for both direct and portfolio investments, enabling China to become the leader in Asia while maintaining its sustainable growth objective. China should invest heavily in the development of the Asian bond market and the Asian Currency Fund when making both portfolio and direct investment decisions.

  19. A nonparametric and diversified portfolio model

    Science.gov (United States)

    Shirazi, Yasaman Izadparast; Sabiruzzaman, Md.; Hamzah, Nor Aishah

    2014-07-01

    Traditional portfolio models, like mean-variance (MV) suffer from estimation error and lack of diversity. Alternatives, like mean-entropy (ME) or mean-variance-entropy (MVE) portfolio models focus independently on the issue of either a proper risk measure or the diversity. In this paper, we propose an asset allocation model that compromise between risk of historical data and future uncertainty. In the new model, entropy is presented as a nonparametric risk measure as well as an index of diversity. Our empirical evaluation with a variety of performance measures shows that this model has better out-of-sample performances and lower portfolio turnover than its competitors.

  20. Deaf college students' perspectives on literacy portfolios.

    Science.gov (United States)

    Nickerson, Jane Freiburg

    2003-01-01

    The study examined how literacy portfolios were used as tools in a college developmental English class in which deaf students assessed their reading comprehension as well as their writing processes and products. The students' reading and writing assignments involved reflective thinking and were grounded in authentic tasks. Immediate feedback was provided. The study was multidimensional, longitudinal, and ongoing. A variety of field research techniques were used to ascertain the uses and influences of portfolios in regard to students' reading, writing, and reflective thinking. The results support the idea that the use of literacy portfolios can positively influence students who are deaf when they assess their reading and writing abilities.