ABSTRACT
During the COVID-19 pandemic, the U.S. power sector witnessed remarkable electricity demand changes in many geographical regions. These changes were evident in population-dense cities. This paper incorporates a techno-economic analysis of energy storage systems (ESSs) to investigate the pandemic's influence on ESS development. In particular, we employ a linear program-based revenue maximization model to capture the revenues of ESS from participating in the electricity market, by performing arbitrage on the energy trading, and regulation market, by providing regulation services to stabilize the grid's frequency. We consider five dominant energy storage technologies in the U.S., namely, Lithium-ion, Advanced Lead Acid, Flywheel, Vanadium Redox Flow, and Lithium-Iron Phosphate storage technologies. Extensive numerical results conducted on the case of New York City (NYC) allow us to highlight the negative impact that COVID-19 had on the NYC power sector. © 2023 IEEE.
ABSTRACT
Oil prices have become more volatile as a result of global economic contraction and control measures. Before and during the COVID-19 crisis, this study examines the relationship between oil price swings and daily stock returns in the power sector. The impact is investigated using a panel Vector Autoregressive (VAR) model. Granger causality tests are used to see if oil prices are effective in predicting returns. The dynamic impact of supply shocks is studied using Impulse Response Functions (IRFs). From January 2011 to May 2021, the study used daily data from all listed power sector enterprises on the Pakistan stock exchange. To investigate the differences in reactions between the Pre-COVID and COVID eras, the sample was separated into two groups. Oil shocks are inversely associated with daily firm stock returns. The conclusions are further supported by the lack of impact of stock prices on oil prices. The relationship, however, deteriorates during the COVID pandemic. We could not uncover any evidence of a significant relationship. In developing countries that rely on oil imports, the study sheds light on the utility of oil price shocks in daily stock return predictions.
ABSTRACT
In recent years, the United States power sector emissions of CO2 and NOx have decreased due to declining coal and increasing natural gas and renewables in the fuel-mix. In April 2020, the COVID-19 social restrictions in the United States led to a decline in electricity demand from the commercial and industrial sectors. In this study, we estimate the changes in the emissions of CO2 and NOx from the U.S. power sector due to three factors: 1) weather, 2) the fuel-mix change in the past five years, and 3) the COVID-19 social restrictions. We use a multivariate adaptive regression splines (MARS) model to separate the impacts of outdoor temperature and type-of-day from the COVID-19 on power generation, and the daily operation status of 3013 power units to account for the fuel-mix change. We find that electricity demand changes due to COVID occurred mostly from March to June 2020, with electricity demand generally returning to 2015–2019 levels starting in July 2020. We find the U.S. power sector CO2 emissions, reported by EPA, dropped by 29.8 MTCO2 (−26%) in April 2020, relative to the average April emissions between 2015 and 2019. Of that reduction, we attribute declines of 18.3 ± 4.0 MTCO2 (−18 ± 4%) to the COVID-19 lockdowns, declines of 13.7 ± 4.2 MTCO2 (−12 ± 4%) to a fuel-mix change, and increases of 2.3 ± 1.1 MTCO2 (+2 ± 1%) due to weather variability compared to the five prior years. For the same month, the power sector NOx emissions dropped by 27.6 thousand metric tons (−42%) in April 2020, relative to the past five-year monthly average. Of that reduction, we attribute declines of 10.5 ± 2.4 thousand metric tons (−22 ± 5%) to the COVID-19 lockdowns, declines of 18.5 ± 2.5 thousand metric tons (−28 ± 4%) to a fuel-mix change, and increases of 1.4 ± 0.6 thousand metric tons (+2 ± 1%) due to weather variability. This result highlights the importance of accounting for weather and fuel-mix changes when estimating the impact of COVID-19 on the power sector emissions.
ABSTRACT
This paper aims to understand the responsiveness of the power sector during the lockdown due to the COVID-19 pandemic beginning from March25, 2020 and analyses its impact on the demand, operation and supply of electricity in the Indian power system. The role of the C&I load share in reducing the electricity demand of the different states in India has been examined using multi-sectoral regression analysis. The impact of the pan India lights-off event on the short-term operational flexibility response of the power system has also been analysed using high-temporal resolution data. The results indicate that there has been a reduction of nearly 70 TWh of electricity demand during the lockdown period, an 11% reduction compared to 2019. The top three states recording the highest reduction were Maharashtra, Gujarat and Tamil Nadu at 11TWh, 10.6TWh and 8.4 TWh, respectively. Regression analysis revealed that out of the total drop in load demand — 73% is owed to the industrial sector, while the remaining 27% is to the commercial sector. This demand drop also impacted the upstream electricity supply mix where 96% of the reduction in supply was borne by the coal generating units, recording its lowest national plant load factor at 35% with a 16% reduction in overall CO2 emission compared to the same period in 2019. In conclusion, a case study of Maharashtra has been used to analyse the impact of this reduction in electricity demand on the supply mix, hourly load profile and cost of supply under the different lockdown phases.
ABSTRACT
The Coronavirus outbreak has imposed different levels of stay-at-home orders worldwide to help contain the disease spread, thus promoting severe impacts over the global economy. The World Bank expects 90% of the world economy to go into recession, being this the most severe global economic crisis since the second world war. Consequently, electricity consumption has fallen sharply in many countries, so as in Brazil, what provoked critical effects over many electricity sector stakeholders. In this context, this article discusses the main consequences of COVID-19s outbreak over the Brazilian electricity sector and some measures taken by the government and the regulator to address such issues. Further, this work proposes a long-term electricity demand forecast methodology, taking into consideration bottom-up technics for general demand growth and top-down technics for the expansion of distributed generation in Brazil. The model uses as input economic forecasts from the World Bank, the International Monetary Fund and Brazilian market consolidated expectations disclosed by the Brazilian Central Bank. The model proves to be useful to long-term demand forecast by producing results adherent to official forecasts published by Brazilian governmental institutions. © 2003-2012 IEEE.
ABSTRACT
The year 2020 will be remembered a battle for existence of mankind against a super spreading virus Covid-19. While health-workers fought from the front, power industry stood like backbone to ensure proper support to handle the crisis. The covid-19 brought lots of changes in people's sociocultural, economic, day to day life. The fear of the pandemic along with its counter measure pushed many people to work from home. On the other hand, health care industry faced an unprecedented demand of oxygen, medicine, transportation, PPE, life support system etc. In this paper it has been shown that how the pandemic affected the different regions of Indian power industry by changing energy and power demand, load pattern, generation resource sharing and creating transients. Also, it describes how Indian Power Industry stood tall by successfully handling all these unprecedented situations. © 2021 IEEE.
ABSTRACT
To meet the 2060 carbon neutrality target, China will need to phase out existing coal-fired power plants by 2050 or before. The electricity supply sector directly employs over 2 million and an additional 2 million when indirect employment including product and machinery production are included. To investigate the policy options and pathways available to meet the national climate goal while transitioning this jobs-intensive and economically powerful sector, we developed a plant-level job accounting model, and combine it with a power sector optimization model to assess job loss in the coal sector, as well as job creation in the burgeoning renewable power sector in China. We find that national and provincial policy actions to support an early and managed transition help to ensure a job-rich and both geographically and socioeconomically equitable shift from coal to clean energy. Specifically, the projected decline in fossil-fuel jobs can be fully offset by job new creation in the expanding renewable energy sector. Current COVID-19 economic stimulus plans include a potential new coal boom, where China could build up to 247 GW of additional plants, and thus delay the transition by a decade or more. We find that this action would result in up to 90% of coal-fired workers losing jobs between 2030 and 2040 without a clear pathway to absorb these workers in what will be an already mature clean energy economy. Provinces with massive coal fleets and limited renewable energy resources, notably Anhui, Henan, Hebei and Shandong, etc., would face a particularly disruptive mismatch of job gains and losses. © 2021 Elsevier Ltd
ABSTRACT
• Commendable of planning, coordination, execution, and resilience of power sector. • Grid security analysis in the pandemic. • The status of COVID-19, statistics of global electricity demand. • Analysis of main policies implemented by countries. Technology is advancing progressively at a very sharp rate in every phase of the commercial and economic issues, where energy plays a vital role in hi-tech enrichment. After continuous and multi directive research, human is efficient enough to put their steps on the peak of all imaginable pitches. But a human cannot fight against the environment in all instances. COVID-19, or Corona Virus, is such a type of environmental pandemic. Due to a large spread rate of COVID-19, the human society of the entire Globe is getting affected within a very small period. During its first and second wave, it collapses maximum countries health, economic structures along with the electrical sector. Many countries have enforced the 'lockdown' to their citizen for minimizing the community spread rate, which directly affects the energy sector. Standing in this scenario, this study focuses on the significant effect of COVID-19 on the energy sector of the Globe, especially in India. This paper also demonstrates that how several countries are trying to secure their power sector in this pandemic situation. [ FROM AUTHOR] Copyright of International Journal of Electrical Power & Energy Systems is the property of Elsevier B.V. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full . (Copyright applies to all s.)
ABSTRACT
The COVID-19 pandemic has dramatically altered global energy consumption, particularly affecting investment in renewable energy projects. In India, strict shelter-in-place orders enforced during March 2020 have since led to a considerable change in public and private sector investments in planned renewable energy installations. In this paper, we attempt to highlight trends in energy consumption and installed renewable energy capacity noted in India during a period concurrent with the shelter-in-place orders. We discuss recent policy measures and additions to installed renewable energy capacity, and propose key policy recommendations that may help the sector adopt a growth trajectory similar to one noted pre-pandemic. This paper is organized into four main parts. In the first section, we draw focus to India's renewable energy policies and pay special emphasis on recent interventions and campaigns targeted towards achieving high growth rates in the sector. We briefly discuss the need for effective public-private partnerships in order to meet these targets. In the second part, we quantitatively characterise the growth of renewables in India. We present an overview of several mechanisms and missions the government has launched in line with their policy to mitigate the environmental impact of India's energy mix. In the third part, we analyse the decrease in electricity demand in India from 24 March to 30 June 2020, a period concurrent with shelter-at-home orders issued by the Government. We also characterise changes in installed renewable energy capacity between March to December 2016-2020 to provide causal evidence of the effect of the pandemic on the growth of renewables. In this section, we also compile and analyse data on state-wise stressed assets across renewable energy generators in the country. Lastly, in the fourth and final portion of this paper, we highlight policy recommendations that may help the sector overcome logistical and financial bottlenecks in the short-term. We do this with the hope of outlining key measures that decision makers may employ to achieve pre-COVID sectoral growth in the long term. Our recommendations cover three different policy instruments: investment subsidies, operational subsidies, and recommendations for DISCOMs.