STOCHASTIC ENERGY DEMAND AND THE STABILIZATION VALUE OF ENERGY STORAGE

The economic value of energy storage to meet peak electricity demand is analyzed with an emphasis on the role of demand uncertainty. The concept of the stabilization value, which measures that part of the benefit of the storage project which is due solely to the stochastic demand components, is defined. The magnitude of the stabilization value, relative to the overall value of energy storage, is evaluated in terms of a simple model that accounts for the relevant characteristics of the electric power utility's production mix. It is found that neglecting the demand uncertainty can seriously bias the benefit assessment of the storage project as well as the determination of the optimal storage capacity.Resource /Energy Economics and Policy,

Intermittency and the Value of Renewable Energy

A key problem with renewable energy is intermittency. This paper develops a method to quantify the social costs of large-scale renewable energy generation. The method is based on a theoretical model of electricity system operations that allows for endogenous choices of generation capacity investment, reserve operations, and demand-side management. We estimate the model using generator characteristics, solar output, electricity demand, and weather forecasts for an electric utility in southeastern Arizona. The estimated welfare loss associated with a 20% solar photovoltaic mandate is 11% higher than the average cost difference between solar generation and natural gas generation. Unforecastable intermittency yields welfare loss equal to 3% of the average cost of solar. Eliminating a mandate provision requiring a minimum percentage of distributed solar generation increases welfare. With a $21/ton social cost of CO2 this mandate is welfare neutral if solar capacity costs decrease by 65%.

Frequency Dependence of Diagonal Resistance in Fractional Quantum Hall Effect via Periodic Modulation of Magnetic Field

Energy spectrum of fractional quantum Hall (FQH) states is composed of single electron energy (Landau energy) neglecting the Coulomb interactions between electrons, classical Coulomb energy and the quantum energy via quantum transitions. Herein, the sum of the Landau energy and the classical Coulomb energy depends upon the value of the filling factor continuously. However, the quantum transition energy discontinuously depends upon the value of the filling factor. This discontinuity yields energy gaps in many stable FQH states. The energy gaps for specific filling factors produce the precise confinement of Hall resistance. A new experiment is considered as follows; the magnetic strength is fixed to the value to confine the Hall resistance at the filling factor of 2/3 as an example. Moreover the magnetic modulation with frequency f is applied to the system. The frequency dependence of the diagonal resistance is measured. Then, it is shown in this paper that the diagonal resistance varies drastically at some frequency value f0. We clarify the following relation between this value f0 and the magnetic strength width dB of Hall plateaus as f0 = e dB / (4 Pi m), where -e is the charge of electron, Pi =3.141592, and m is the mass of electron.Comment: 5 pages, 3 figure

ANALYSIS THE FAIR VALUE OF PT. ADARO ENERGY BY USING VALUATION: DISCOUNTED CASH FLOW MODEL

Recent years, valuation of company become more demanded rapidly. Globalization and financial market have favored business growth. Investment becoming more interesting, mergers and acquisition becoming phenomenon. Continued business flow in market nowadays is followed by demand to investment from stocks, loan or the other capital instrument. The goal of company valuation is to give owner, potential buyers, stakeholders and other interested buyer the measurement of a company value. PT. Adaro Energy is the biggest coal producer in Indonesia Unfortunately coal price start decreases in 2011. The current weak coal price is mainly due to undisciplined supply growth on the back of excess liquidity and overinvestment made in the recent years. Supply contraction is slowly underway but the market has not yet rebalanced. So author wants to find out the fair value of PT Adaro Energy Tbk, using valuation Discounted Cash Flow method using PT Adaro Energy Tbk, historical financial statement, Type of this research are data time series to analyze and evaluate time performance over comparison of current to past performance, using ratios, enables analysts to assess the firm\u27s progress of PT. Adaro Energy Tbk, step by step to get the fair value of PT Adaro Energy. In this research the result would be differentiate into three scenarios based on growth using CAGR as the growth assumption , into pessimistic , moderate (most likely) and optimistic. From analysis that already conducted the fair value of PT Adaro Energy Tbk, are . For the Growth by 3.23% (pessimistic scenario), the firm value is $9,413 million, where its equity value is$ 8,264 million. For the Growth by 4.8% (moderate scenario), the firm value is $9,540 million, where its equity value is$ 8,389 million.For the Growth by 6.6% (optimistic scenario), the firm value is $9,682 million, where its equity value is$ 8,531 million

Neutrino energy reconstruction problems and neutrino oscillations

We discuss the accuracy of the usual procedure for neutrino energy reconstruction which is based on the quasielastic kinematics. Our results are described in terms of a probability distribution for a real neutrino energy value. Several factors are responsible of the deviations from the reconstructed value. The main one is the multinucleon component of the neutrino interaction which in the case of Cherenkov detectors enters as a quasielastic cross section, increasing the mean neutrino energy which can differ appreciably from the reconstructed value. As an application we derive, for excess electron events attributed to the conversion of muon neutrinos, the true neutrino energy distribution based on the experimental one which is given in terms of the reconstructed value. The result is a reshaping effect. For MiniBooNE the low energy peak is suppressed and shifted at higher energies, which may influence the interpretation in terms of oscillation. For T2K at the Super Kamiokande far detector the reshaping translates into a narrowing of the energy distribution

The Option Value of Investments in Energy-Efficient and Renewable Energy Technologies

This paper takes up the need to engage in substantial investments in the energy producing capital stock to attack the climate change problem, caused by rising carbon dioxide concentrations in the atmosphere. However, the precise magnitudes of economic impacts of global warming as well as abatement and mitigation costs of climate change are not known and may be learned after time. Thus preferences to restrict or to loosen environmental objectives and related emission levels might change and are reflected in an uncertain “price” for environmental usage (e.g. emission tax, marketable permits). As a consequence investors face some uncertainty and need to take the option value of their investments in the energy producing capital stock into account and tend to delay their investment. Considering long usage periods and indivisibilities of power production investments adequate environmental policy has to be designed in a way to reduce uncertainty for investors.Climate Change, Option Value, Investment Uncertainty, Renewable Energy, Klimawandel, Optionswerte, Investitionsunsicherheit, Erneuerbare Energien

On the mean value of the energy for resonant states

In this work we discuss possible definitions of the mean value of the energy for a resonant (Gamow) state. The mathematical and physical aspects of the formalism are reviewed. The concept of rigged Hilbert space is used as a supportive tool in dealing with Gamow-resonances.Comment: 9 page