The Internet of Things (IoT), also called the Internet of Everything or the Industrial Internet, is a new technology paradigm envisioned as a global network of machines and devices capable of ...interacting with each other. The IoT is recognized as one of the most important areas of future technology and is gaining vast attention from a wide range of industries. This article presents five IoT technologies that are essential in the deployment of successful IoT-based products and services and discusses three IoT categories for enterprise applications used to enhance customer value. In addition, it examines the net present value method and the real option approach widely used in the justification of technology projects and illustrates how the real option approach can be applied for IoT investment. Finally, this article discusses five technical and managerial challenges.
Twenty states plus the District of Columbia now have renewable portfolio standards (RPS) in place that requires a certain percentage of energy to come from renewable sources by a specific year. With ...renewable energy on the verge of massive growth, much research emphasis is put on enabling the implementation of these technologies. This paper presents a novel method of site selection for wind turbine farms in New York State, based on a spatial cost–revenue optimization. The algorithm used for this is built in ESRI ArcGIS Desktop 9.3.1 software and consists of three stages. The first stage excludes sites that are infeasible for wind turbine farms, based on land use and geological constraints. The second stage identifies the best feasible sites based on the expected net present value from four major cost and revenue categories that are spatially dependent: revenue from generated electricity, costs from access roads, power lines and land clearing. The third stage assesses the ecological impacts on bird and their habitats. The proposed spatial multi-criteria methodology is then implemented in New York State and the results were compared with the locations of existing wind turbine farms. The wind farm site selection tool presented in this paper provides insights into the most feasible sites for a large geographic area based on user inputs, and can assist the planning of wind developers, utilities, ISO's and State governments in attaining renewable portfolio standards.
•The thermo-economic feasibility of the SPT station was investigated.•The influence of the location on the thermo-economics of the SPT station is evaluated.•The SPT station's thermo-economics are ...optimized.•An SM of 2.8 and a TES of 8 h were the best configurations for the STP station.
Egypt is a sunbelt nation with plenty of solar resources and significant wasteland areas, particularly in its southern and western regions. Concentrating solar power technologies are tried-and-true renewable energy systems that use solar radiation to produce electricity in nearby nations. These technologies have the potential to reduce costs in the future. Comprehensive techno-economic research has not been conducted to assess the potential for the solar power tower technique in Egypt; instead, solar photovoltaic and parabolic trough systems are given the majority of the attention. The major goal of this article is to persuade the Egyptian government to pursue solar power tower technology and meet the accompanying difficulties. Using system advisor model software, six distinct locations were used to simulate a 100 MW plant for solar power tower technology. Based on a thorough technical solar power tower site evaluation research, these zones were examined. To achieve the lowest levelized cost of electricity (LCOE), thermal energy storage and solar field size optimization are carried out. The Benban location, with outputs of 521,228.8 MWh and 0.1130 $/kWh, respectively, has the greatest produced energy and the lowest levelized cost of electricity, according to the findings. The ideal design for the solar power tower plant was shown by the results to be a solar multiple of 2.8 with a thermal energy storage of 8 h. The solar power tower plant's lowest levelized cost of electricity might then be reduced, in accordance with the optimum configurations, to 0.1057 $/kWh.
Por meio do presente trabalho, objetivou-se avaliar a viabilidade econômico-financeira para implantação de uma loja de injeção eletrônica na cidade de Santarém/PA, por meio de métodos heurísticos de ...avaliação de projetos. Para alcançar tal objetivo, utilizou-se o método de estudo de caso, de caráter exploratório e natureza aplicada. Foi detalhado o método de viabilidade do projeto industrial a partir do Valor Presente Líquido (VPL); da Taxa Interna de Retorno (TIR); Ponto de Equilíbrio (PE); Custo-Benefício e Payback. Como resultado do presente estudo, conclui-se que o projeto é viável econômico e financeiramente, apresentando um VPL de R$907.203,59, descontado à Taxa Mínima de Atratividade (TMA) que representa pelo custo de oportunidade e pela remuneração de capital, no valor total de 17,93% a.a., contribuindo para a viabilidade do empreendimento com um VPL positivo; uma TIR de 56,8% a.a., o que confirma a atratividade do investimento vista que esta taxa é superior a TMA; um PE calculado no valor atual de 39% e 23% para um valor projetado, ambos considerados relativamente baixos o que reforça a viabilidade do negócio; a relação custo-benefício igual 6,3 reforça a viabilidade do projeto, sendo maior que um; e o período de retorno do investimento, medido pelo payback, foi de três anos, para o horizonte de 12 anos.
A techno-economic study has been proposed for an off-grid combined renewable energy system (HRES) by photovoltaic (PV) and fuel cell (FC) systems. The proposed HRES has been studied to provide ...electricity for a remote area in Jiaju Tibetan Village, Danba, Sichuan Province China The main idea is formulated according to the Total Annual Cost (TAC). The study uses a new improved metaheuristic, called Amended Water Strider Algorithm (AWSA) to optimal estimation of the photovoltaic panels’ number, electrolyzer, fuel cells, and hydrogen storage tanks to get the minimum value of the overall net present value (ONPV). For increasing the system efficiency, the loss of power supply probability (LPSP) has been considered. Sensitivity analysis is used on the changing of the proposed HRES according to Levelized cost of energy (LCOE). Also, a comparison of the algorithm with several techniques from the literature is performed to illustrate its effectiveness. The results showed that the proposed method has further proper results than the other algorithms.
The financial objective, when sizing a Battery Energy Storage System (BESS) for installation in a microgrid, is to maximise the difference between discounted BESS benefits and discounted BESS costs. ...This may be described as maximising Annual Worth (AW). However, one drawback of sizing microgrid BESS using AW is that the scale of investment is not taken into consideration. This can lead to unrealistic BESS sizes. This article presents two multi-objective optimisation (MOO) models to account for the scale of investment required in sizing BESS. The first model, Paired Comparison, utilises two objective functions: Daily Worth (DW), which maximises daily benefit cost differences a BESS installation provides a microgrid; and Daily Cost (DC), which minimises the daily cost of a BESS installation. The second model, called Rating Method, uses the objective functions DW and Daily Benefit-Cost Ratio (DBCR), the latter of which maximises the relative measure of BESS benefit and BESS cost. Both models are solved for a test microgrid system under three different scenarios using Compromise Programming (CP). For system designers who rank objective functions by importance, the Rating Method is the appropriate approach, whereas system designers who rank objective functions by absolute values should use Paired Comparison.
•A multiperiod supply chain with freight carriers network model is presented.•Network entities maximize net present value of their investments in green technology.•Tradeoff between technology ...investment and ecological footprint effect is considered.•Environmental preference to have green supply chain business partners is explored.•Consumer awareness of green technology and foot print outcomes is modeled.
This paper presents a multiperiod supply chain with freight carriers network model. In this model manufacturers, retailers, and carriers maximize the net present value (NPV) of their investments in ecologically friendly technology. Future production, inventory, transaction, and transportation costs savings are used to help fund investments. The environmental impact of production, inventory, transportation, and consumption of products in the supply chain network are all integrated. The tradeoff between the initial technology investment and its ecological footprint effect is considered for the supply chain planning period. We provide variational inequality formulations of the equilibrium conditions and then propose the modified projection method, along with conditions for convergence. Numerical examples are examined with an analysis of the effects of ecologically friendly technology investments on supply chain network production, transportation, and sales.
•Determining energy and crop yield due to the integration of two technologies.•Examining the difference in the yields with and without the integration for area.•Studying the economic feasibility of ...APV in the UK.
Agrivoltaics combines photovoltaic and agricultural systems to create a synergistic arrangement where land can be utilised more efficiently. The investment cost for the photovoltaic system remains higher for an agrivoltaic system than a traditional ground-mounted photovoltaic system due to the increased height above the ground, however, the revenue generated by the system will still return a positive net present value over its lifetime. This paper analyses the performance of overhead-tilted and vertically mounted agrivoltaic systems on a technical and economic basis. The agrivoltaic systems are also compared to systems of the same area modelling a stand-alone crop system, and a ground-mounted PV farm. The resultant energy and crop yield from these simulations are combined to determine the land equivalency ratio of the agrivoltaic systems around the UK. The crop and energy produced are used to generate values for the annual revenue and operating profit of the systems. The net present value compared for the systems over their lifetime, where it was found that Belfast has the lowest NPV with 19499.87 when using vertical APV while Canterbury had the highest NPV at 80713.73 with the panels. The LER obtained had optimistic values, with the lowest LER being 0.91 for the vertical system in Cambridge and the highest LER obtained was 1.52 in Denbigh. The results showed that agrivoltaic systems are viable in numerous locations around the UK, with a land equivalency ratio above 1 in all regions for tilted agrivoltaic systems. More importantly, the results proved that the use of agrivoltaic systems allows land to become more profitable per unit area, with an average increase in annual operating profit of 210% across all locations studied.
Green ammonia can be produced using fossil fuels or any renewable energy source combined with heat or electricity. Chile has one of the highest rates of solar irradiation and also the environmental ...conditions that support the development of solar industry. Other renewable sources of energy are the wind and the hydraulic dams. These energies could be used to generate ammonia by a standard method such as the Haber-Bosch process, which transforms hydrogen and nitrogen using high temperatures and a catalyst. The ammonia has several desirable characteristics that suggest its use as a way to store hydrogen. Firstly, it can be liquified under mild conditions. Secondly, the ammonia has a high weight fraction of hydrogen. Thus, it is deemed necessary to study technical and economic variables that may support the use of green ammonia as an energy carrier for hydrogen. The aim of this work is to develop a technical-economic analysis about the production of ammonia using hydrogen by means of electrolysis (carried out with solar, wind, and hydraulic renewable energies). The aforementioned green ammonia would be produced in Chile and it would be necessary to transport it to Japan. Sensitivity analysis of main parameters (plant operating hours, size of the ammonia synthesis plant - related to the capacity of the electrolysis plant size in MW-, electricity price, electrolyzer cost, Haber-Bosch cycle cost, and ammonia sales price) was performed to report what factors are primordial at the moment of carried out techno-economic analyses. An optimization process that minimize the NPV was run in order to settle the most convenient size of the electrolyser stack. A net present value (NPV) of base case is €77,414,525 and 7.62 years of pay-back period were calculated for this green ammonia production plant, which considered hydrogen production via electrolysis, Haber-Bosch processes, and trade values of different operational units. The sensitivity analysis has determined that the main variables affecting the NPV are the size of the ammonia synthesis plant and the electricity price. Furthermore, by considering triangular probability distribution of specific variables, it was observed that with a 95% of confidence, the NPV would be positive with a 76.1% of occurrence. The optimization process defined that a stack of 164.21 MW would be the most convenient electrolyser stack dimension, which was estimated by considering all different effects over the operational expenditure (OPEX), capital expenditure (CAPEX), and investments risk. Therefore, the hydrogen production in Chile and its transportation to Japan using ammonia as an energy carrier would be a technically viable and profitable solution, which also has environmental benefits.
•Green ammonia can be produced using renewable energy source and using electricity.•Ammonia has several characteristics in order to be used as a mean to store hydrogen.•A viability analysis for green ammonia production was performed.•NPV of € 88.7 million and a 7.22-year pay-back were obtained for this facility.•With 95% of confidence, the NPV will be positive with an 76.1% of certainty.
Purpose: The aim of the study is to determine the role of investment in the production equipment modernization and to assess the impact of this investment on the company’s productivity. Methodology: ...The research employed calculation of the Weighted Average Cost of Capital (WACC), as well as the Net Present Value (NPV), Profitability Index (PI) as the methods. The final stage was the application of the correlation coefficient. For the company Builders FirstSource Inc used as an example the calculated WACC was 8.74%, for Hardie Industries plc. this figure was 9.31, for Boral — 4.3%, and for Grafton plc — 5.6%. The Profitability Index was 1.30 (Builders FirstSource Inc,), 2.34 (Hardie Industries plc), 1.51 and 1.46 for Boral and Grafton plc. The Net Present Value (NPV) amounted to $10,863 million and $128,173 million for Builders FirstSource Inc and Hardie Industries plc., respectively. Findings: The study showed a close relationship between productivity and investment in equipment modernization, as the correlation coefficients are 0.991 (Builders FirstSource Inc,), 0.994 (Hardie Industries plc), 0.83 (Boral), and 0.97 (Grafton plc), indicating a close correlation. The obtained results can be successfully used by manufacturing companies to assess the feasibility of investment in modernization. Originality: A possible direction of further research is the introduction of gradation of investments in modernization, with clarification of the types of modernization and the type of equipment that will be modernized.
PDF
