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Grid connected energy storage systems are regarded as promising solutions for providing ancillary services to electricity networks and to play an important role in the development of smart grids. Thus far, the more mature battery technologies have been installed in pilot projects and studies have indicated their main advantages and shortcomings. The main concerns for wide adoption are the overall cost, the limited number of charging cycles (or lifetime), the depth of discharge, the low energy density and the sustainability of materials used. Vanadium Redox Flow Batteries (VRFB) are a promising option to mitigate many of these shortcomings, and demonstration projects using this technology are being implemented both in Europe and in the USA. This study presents a model using MATLAB/Simulink, to demonstrate how a VRFB based storage device can provide multi-ancillary services, focusing on frequency regulation and peak-shaving functions. The study presents a storage system at a medium voltage substation and considers a small grid load profile, originating from a residential neighbourhood and fast charging stations demand. The model also includes an inverter controller that provides a net power output from the battery system, in order to offer both services simultaneously. Simulation results show that the VRFB storage device can regulate frequency effectively due to its fast response time, while still performing peak-shaving services. VRFB potential in grid connected systems is discussed to increase awareness of decision makers, while identifying the main challenges for wider implementation of storage systems, particularly related to market structure and standardisation requirements.

Abstract The main aim of this paper is to analyse whether the adoption of sustainable energy systems improves corporate financial performance. To this end, we obtained data from a sample of 574 multinational companies from 36 countries in the 2008–2013 period. On this data we implement a dynamic system panel data method. Our findings show that the adoption of sustainable energy systems allows firms to improve their short-term corporate financial performance while not leading them to reduce their corporate financial performance in the long term. Specifically, our results indicate that an increase in energy efficiency and the use of renewable energy sources do not significantly affect corporate financial performance. Neither does the integration of energy efficiency systems and renewable energy sources have any significant influence on corporate financial performance, while the level of implementation of sustainable energy management systems has a significant effect on short-term, but not long-term, corporate financial performance. Furthermore, other control variables, such as research and development expenditure and year, are also relevant in explaining firms’ financial performance. The adoption of sustainable energy systems helps to improve corporate financial performance in the short-term but has no affect in the long-term. This might be because the monitoring of energy efficiency using key performance indicators allows firms to detect and correct failures in the production process and hence improve short-term financial performance. However, this measure does not generate competitive advantages for firms and therefore has no effect on long-term corporate financial performance. From a scientific perspective of energy, this paper contributes to the literature by providing a detailed explanation of how the adoption of sustainable energy systems proposed by Peura (2013) influences corporate financial performance on the basis of new empirical evidence. These explanations provide a strong rationale for improving the efficient use of energy and harvesting low hanging fruits in the short term from a managerial perspective. Policymakers should encourage firms to align sustainable energy systems with their core business strategy by developing green technologies that allow them to acquire rare and valuable capabilities and abilities, which generate competitive advantage, and therefore allow firms to increase their long-term corporate financial performance.

Abstract This paper explores the way in which radical innovations that offer qualitatively better performance in terms of sustainability may or may not come to pass within a large, established industry that is not usually associated with such dramatic changes. In particular, it explores the case of the development of fuel cell technology as a replacement for the internal combustion engine in the products of the automotive industry, with a focus on understanding the conditions under which incumbents with a disincentive to change may ultimately become the means by which such change is introduced. The paper identifies five potential ‘change factors’ to explain the adoption of fuel cell technology, but concludes that it is a combination of the change factors that is important. Technological progress alone seems insufficient to explain its success, while environmental regulation has been a second crucial condition for the large investments in fuel cell technology. While carmakers engage with entrepreneurs and use their technology to gain competitive advantage, market factors have played a minor role in fuel cell technology adoption and entrepreneurs have lacked the resources, the credibility and the independence to become influential in radical technological change.

Abstract This paper describes the construction and analysis of a disaggregated input-output model and its extension to a social accounting matrix (SAM) for the Spanish economy in 2013. Our focus is the specific disaggregation of the electricity industry into the generating, transmission, distribution and marketing businesses, which were decoupled in 1997 under legislation prohibiting any single company from conducting more than one of them. The multi-sectoral framework also allows disaggregation of electricity generating by production technologies (wind, nuclear, conventional thermal, hydropower, solar and other technologies). To the best of our knowledge, this is the first paper in which this information is presented in a multi-sectoral framework for the Spanish economy, which is enormously dependent on the electricity industry. The structural analysis reveals the industry's role in Spain and the importance of its activities. None of the electricity generating businesses is a Rasmussen key sector, and generating and distribution are both capital-intensive activities. Meanwhile, conventional thermal and hydropower generating together make up more than 50% of total output in value terms, while nuclear power accounts for only around 7%. Finally, imports and exports of electricity are small, and almost all demand is covered by domestic production.

AbstractSustainable biorefineries have a critical role to play in our common future. The need to provide more goods using renewable resources, combined with advances in science and technology, has provided a receptive environment for biorefinery systems development. Biorefineries offer the promise of using fewer non‐renewable resources, reducing CO2 emissions, creating new employment, and spurring innovation using clean and efficient technologies. Lessons are being learned from the establishment of first‐generation biofuel operations. The factors that are key to answering the question of biorefinery sustainability include: the type of feedstock, the conversion technologies and their respective conversion and energy efficiencies, the types of products (including coproducts) that are manufactured, and what products are substituted by the bioproducts. The BIOPOL review of eight existing biorefineries indicates that new efficient biorefineries can revitalize existing industries and promote regional development, especially in the R&D area. Establishment can be facilitated if existing facilities are used, if there is at least one product which is immediately marketable, and if supportive policies are in place. Economic, environmental, and social dimensions need to be evaluated in an integrated sustainability assessment. Sustainability principles, criteria, and indicators are emerging for bioenergy, biofuels, and bioproducts. Practical assessment methodologies, including data systems, are critical for both sustainable design and to assure consumers, investors, and governments that they are doing the ‘right thing’ by purchasing a certain bioproduct. If designed using lifecycle thinking, biorefineries can be profitable, socially responsible, and produce goods with less environmental impact than conventional products … and potentially even be restorative!. Copyright © 2010 Society of Chemical Industry and John Wiley & Sons, Ltd

The Chinese province of Shandong, and more particularly its cities Dezhou, Jinan and Rizhao, have established an international reputation of being hotbeds for solar water heating (SWH) technology development and dissemination. The article aims to unveil the evolution of this innovative environment by applying the Functions of Innovation Systems (FIS) approach to the Chinese province of Shandong. It examines the actors, institutions and policy instruments that shape Shandong's innovation system for SWH, the dominant drivers and barriers during the evolution of the TIS and also assesses the applicability of the IS approach to China. It appears that the presence of influential interest organizations and proactive support from local governments have acted as strong drivers for the emergence of Shandong's innovation system for SWHs. On the other hand, the lack of adequate personnel and an overreliance on government policies act as main barriers. With regard to the Chinese specificities potentially detracting from the relevance of applying IS theory to China, we did not find that the central government acted as an initiator of innovation nor that state-owned enterprises had dominant positions in the market. In this innovative industry the impetus for development came from the bottom up and from private corporations.

PowerMatching City (see ref. (Bliek et al., 2010)) is a living lab smart grid demonstration that shows the feasibility of a market based smart grid optimization methodology. It allows simultaneous optimization of multiple goals of the various stakeholders in a smart grid: in-home optimization, commercial optimization (VPP operation), congestion management and Integration and Valorization of renewable energy. The solution is based on local distributed intelligence and controlled by software agents at a device level that are coupled via local markets. These local markets are combined to a single central market that is coupled via the trading room of RWE-Essent to the existing markets like the imbalance and APX-ENDEX. The demonstration show how gas applications (micro cogeneration and hybrid heat pump systems) and gas infrastructure can play an essential role in smart grids and form a cost efficient cornerstone in balancing our networks when intermittent renewable energy sources are deployed on a large scale. © 2011 Elsevier B.V.

Smart grids, renewable energy integration, and climate change mitigation - Future electric energy systems

Environmental innovations, investments, and expenses have been identified as an efficient and reliable way of addressing ecological issues. Nevertheless, how environmental innovations, investments, and expenses may influence the level of environmental pollution in European nations and whether the outcome may fluctuate among various environmental innovation indicators remain to be inspected. Therefore, this research is designed to empirically scrutinize the influence of environmental innovations, environmental investment, environmental expenditure, research and development (R&D) expenses, and foreign direct investment (FDI) on renewable and non-renewable energy in a sample of 15 European countries during the period from 2005 to 2018. To achieve this, we apply robust panel econometric estimation techniques. After testing the stationary property of the series, the findings of the Pedroni cointegration test disclose the presence of a long-run stable connection among the series. The empirical results from the ARDL, FMOLS and DOLS regression show that the impact of environmental innovations, environmental expenditure, R&D expenses, and FDI help to reduce overall non-renewable energy and promote renewable energy. In contrast, environmental investment significantly increases non-renewable energy and diminishes renewable energy usage. Moreover, the findings of Dumitrescu and Hurlin's tests discover a unidirectional causality running from non-renewables and renewables towards environmental investment, environmental expenditure, and FDI. Additionally, bi-directional causality is found between environmental innovations R&D, with both non-renewable and renewable energy utilization. Furthermore, we summarize by arguing that the efforts toward efficient and sustainable use of energy by reducing the combustion of non-renewable energy sources should support modern and innovative strategies by ensuring the transformation of non-renewables with renewable energy sources.