The refinery of the future.

Fossil fuels-coal, oil and gas-supply most of the world's energy and also form the basis of many products essential for everyday life. Their use is the largest contributor to the carbon dioxide emissions that drive global climate change, prompting joint efforts to find renewable alternatives that might enable a carbon-neutral society by as early as 2050. There are clear paths for renewable electricity to replace fossil-fuel-based energy, but the transport fuels and chemicals produced in oil refineries will still be needed. We can attempt to close the carbon cycle associated with their use by electrifying refinery processes and by changing the raw materials that go into a refinery from fossils fuels to carbon dioxide for making hydrocarbon fuels and to agricultural and municipal waste for making chemicals and polymers. We argue that, with sufficient long-term commitment and support, the science and technology for such a completely fossil-free refinery, delivering the products required after 2050 (less fuels, more chemicals), could be developed. This future refinery will require substantially larger areas and greater mineral resources than is the case at present and critically depends on the capacity to generate large amounts of renewable energy for hydrogen production and carbon dioxide capture.

The crucial roles of ICT, renewable energy sources, industrialization, and institutional quality in achieving environmental sustainability in BRICS.

The BRICS countries-Brazil, Russia, India, China, and South Africa-are committed to achieving United Nations Sustainable Development Goal 13, which focuses on mitigating climate change. To attain this goal, it is crucial to emphasize the significance of ICT, renewable energy sources, industrialization, and institutional quality. This study contributes to the literature by examining the potential role of these factors in environmental sustainability in the BRICS economies from 2000 to 2021, utilizing cross-sectional augmented autoregressive distributed lag (CS-ARDL) estimation and other novel econometric techniques. Accordingly, the study suggests that BRICS governments and policymakers prioritize the use of ICT in the industrial and institutional sectors to achieve faster environmental sustainability in the short-run, as per the CS-ARDL results. However, the study advises caution in the long-term as the interaction between ICT and renewable energy sources, industrialization, and institutional quality may not favour environmental quality. Although the renewable energy sources interaction with ICT may not yield immediate progress, strong measures need to be taken to ensure that short-term gains are not nullified. In conclusion, the study highlights the potential of ICT, renewable energy sources, industrialization, and institutional quality in achieving environmental sustainability in the BRICS countries, while recommending cautious measures in the long run to safeguard the progress made.

Hybrid optimal-FOPID based UPQC for reducing harmonics and compensate load power in renewable energy sources grid connected system.

Integration of renewable energy sources (RES) to the grid in today's electrical system is being encouraged to meet the increase in demand of electrical power and also overcome the environmental related problems by reducing the usage of fossil fuels. Power Quality (PQ) is a critical problem that could have an effect on utilities and consumers. PQ issues in the modern electric power system were turned on by a linkage of RES, smart grid technologies and widespread usage of power electronics equipment. Unified Power Quality Conditioner (UPQC) is widely employed for solving issues with the distribution grid caused by anomalous voltage, current, or frequency. To enhance UPQC performance, Fractional Order Proportional Integral Derivative (FOPID) is developed; nevertheless, a number of tuning parameters restricts its performance. The best solution for the FOPID controller problem is found by using a Coati Optimization Algorithm (COA) and Osprey Optimization Algorithm (OOA) are combined to make a hybrid optimization CO-OA algorithm approach to mitigate these problems. This paper proposes an improved FOPID controller to reduce PQ problems while taking load power into account. In the suggested model, a RES is connected to the grid system to supply the necessary load demand during the PQ problems period. Through the use of an enhanced FOPID controller, both current and voltage PQ concerns are separately modified. The pulse signal of UPQC was done using the optimal controller, which analyzes the error value of reference value and actual value to generate pulses. The integrated design mitigates PQ issues in a system at non-linear load and linear load conditions. The proposed model provides THD of 12.15% and 0.82% at the sag period, 10.18% and 0.48% at the swell period, and 10.07% and 1.01% at the interruption period of non-linear load condition. A comparison between the FOPID controller and the traditional PI controller was additionally taken. The results showed that the recommended improved FOPID controller for UPQC has been successful in reducing the PQ challenges in the grid-connected RESs system.

The time-varying dynamic impact of US renewable energy prices on agricultural prices in China: the case of fuel ethanol.

This paper intends to look into the time-varying dynamic impact of US fuel ethanol, one of the renewable energy sources, on the prices of agricultural products (specifically corn, soybeans, rice, and wheat) in China based on monthly price data from January 2000 to January 2023. To achieve this, a time-varying parameter vector autoregressive (TVP-VAR) model is employed, which takes into account structural changes in emergencies through time-varying parameters. The empirical results show that the equal-interval impulse responses of price fluctuations in agricultural commodities are primarily positive to variations in fuel ethanol prices and production. And the intensity and direction of the effects vary at distinct time lags. Additionally, the magnitude of these responses is most pronounced in the short term for all agricultural commodities except for corn, and the duration of the impulse responses at different time points is generally longer for corn prices compared to other commodities. The study also reveals that the influence of US fuel ethanol on Chinese agricultural commodity prices is not substantial on the whole. Therefore, there is a necessity to advance the growth of biofuels and provide policy support and financial subsidies for agricultural products earmarked for food production. These actions could shed insights into the progression of Chinese renewable energy and food policies, ensuring the stability of the market in the long run.

Biomass Ppower generation: A pathway to carbon neutrality.

In light of the pressing need to reduce carbon emissions, the biomass power generation industry has gained significant attention and has increasingly become a crucial focus in China. However, there are still considerable gaps in the historical background, status, and prospects of biomass power generation. Herein, the historical and current status of biomass power generation in China are systematically reviewed, with a particular emphasis on supportive policies, environmental impacts, and future projections. By 2022, the newly installed capacity for biomass power generation reached 3.34 MW with a total installed capacity of 41 MW. The power produced from biomass power generation is 182.4 billion kWh in China. The total installed capacity and generated power in 2022 were 1652 and 1139 folds higher than in 2006 when the first biomass generation plant was established. However, disparities in the distribution of biomass resources and power generation were observed. Key drivers of the industry development include tax, finance, and subsidy policies. Under the implementation of the 14th Five-Year Plan for renewable energy development and the goal of carbon neutrality, biomass power generation may achieve great success through more targeted policy support and advanced technologies that reduce air pollutant emissions. If combined with Bioenergy with Carbon Capture and Storage (BECCS) technology, biomass power generation will make its contribution to carbon neutrality in China.

Economic complexity, greenfield investments, and energy innovation: policy implications for sustainable development goals in newly industrialised economies.

The crucial role of environmental assessment quality has been recognised by environmental and sustainable development goals in addressing climate change challenges. By focusing on the key identifier of environmental assessment, progress can be made towards overcoming climate change issues effectively. The current study considers environmental commitments under COP28 to study the role of economic complexity, greenfield investments, and energy innovation in environmental degradation in newly industrialised economies from 1995 to 2021. We employ novel panel estimations from CS-ARDL, CS-DL, AMG, and CCEMG to confirm that economic growth and greenfield investments degrade environmental quality. On the other hand, energy innovation and urbanisation improve environmental sustainability. Lastly, we confirm the EKC hypothesis for economic complexity as well. Given the reported empirical findings, the study suggests policymakers must focus on economic complexity to transform industrial sectors' economic potential. Furthermore, foreign investment projects must be linked with environmental goals to increase renewable energy capacity.

Does energy transition reduce carbon inequality? A global analysis.

Energy transition from fossil fuels to renewables is instrumental in mitigating climate change. Low-income countries have a higher share of renewable energy in their total energy consumption than rich countries (WDI, 2023). Thus, it is imperative to examine the role of energy transition in affecting relative CO2 emissions between rich and poor sections of the societies across income groups of the countries. In this context, our study contributes by constructing the carbon inequality models with renewable and non-renewable energy consumption as prime explanatory variables separately for 114 countries over a data period 1990-2019. The models are estimated individually for high-middle-low-income countries by controlling for foreign direct investment (FDI), economic growth, and innovations. Starting with preliminary econometric operations, we employ the dynamic simulated panel autoregressive distributed lag approach and Driscoll-Kraay standard error regression for empirical investigation. We find that energy transition reduces carbon inequality globally. Innovation has a negative impact, economic growth has a positive impact on carbon inequality, and FDI has an asymmetric impact based on the income level of the countries. The crucial global policy implications are discussed.

Technical innovation, renewable energy consumption, and CO2 emissions in the USA: a cross-quantile approach.

This study investigates whether technological innovation and the consumption of renewable energy tend to reduce the emissions of CO2 in the USA by analyzing datasets from January 2010 to May 2022. The main contribution to this study is that we applied a cross-quantile approach, which possesses several strengths compared to other methods used for directional predictability. The empirical results of this research can be concluded as three points: (1) both the consumption of renewable energy and technological innovation significantly and negatively impacted the emissions of CO2 in the short run (i.e., 1 month) across high quantiles, which gradually diminished over time (i.e., 3 months, 12 months, and 24 months), implying that technological innovation and the consumption of renewable energy possess a short-lived effect on CO2 emissions, respectively; (2) this relationship remains significant for causal links spanning 1 and 3 months and 1 and 2 years when the consumption of renewable energy and technological innovation are treated as control variables respectively; (3) a recursive cross-quantilogram was constructed to support further our findings, which showed that the consumption of renewable energy and technological innovation tend to negatively impact the emissions of CO2 across all quantiles. These results imply that an increase in the consumption of renewable energy and technological innovation can curb CO2 emissions in the USA; these effects tend to be more lasting when technological innovation and the consumption of renewable energy are combined. Therefore, future policies focused on curbing the emissions of CO2 should pay attention to the combined effect, which is the promotion of technological innovation and the exploitation of renewable energy sources in the USA.

The role of green finance and governance effectiveness in the impact of renewable energy investment on CO2 emissions in BRICS economies.

In the context of sustainable development, this study investigates the intricate dynamics among good governance, renewable energy investment, and green finance in BRICS nations. The aim of the study is to assess how green finance and governance effectiveness moderate the impact of renewable energy investment on CO2 emissions. Utilizing the Cross-Sectional Autoregressive Distributed Lag (CS-ARDL) model, a meticulous analysis spanning two decades was conducted to unravel the relationships among key variables and CO2 emissions. The findings underscore a nuanced interplay where renewable energy investments, synergized with robust governance and strategic green finance, significantly mitigate CO2 emissions, contributing to sustainable economic development. However, the study reveals non-linear relationships, highlighting the necessity for optimal allocation and strategic planning to maximize environmental benefits. In the short-run, a government effectiveness policy threshold that should be attained in order for renewable energy investment to reduce CO2 emissions is provided. In the long-run, the negative responsiveness of CO2 emissions to renewable energy investment is further consolidated by green finance. Moreover, enhancing renewable energy investment in the long run is positive for environmental sustainability. It follows that policy makers should tailor policies aimed at enhancing renewable energy investment in the long-run as well as complementing renewable energy investment with green finance in the long-run in order to ensure environmental sustainability by means of reducing CO2 emissions. Policymakers in BRICS nations are urged to strengthen governance structures, promote renewable energy investments, leverage green finance, foster public-private partnerships, adopt a holistic approach, and address non-linear effects to accelerate the transition to a low-carbon economy.

Risk allocation schemes between public and private sectors in green energy projects.

In this research, we analyse how project risk allocation strategies impact the volume of private investment in renewable energy projects with the participation of both the public and private sectors. To this purpose, we analyse a sample formed by 2215 projects performed in 73 developing countries in the period 1997-2019 involving the following technologies: solar, hydro, wind, waste, biogas, biomass, and geothermal. Our findings reveal that those projects performed through governance schemes in which the private partner takes more project responsibilities attract more private money. Additional drivers for attracting private investment at the project level and institutional level are found. Furthermore, we reveal that the transference of project risks to the private partner emerges as a very relevant project feature that interacts with some of the project and institutional factors, revealing both complementary and substitution effects. The significance of this research extends beyond academia, since there are factors influencing private investment that can be controlled by various stakeholders in projects (such as policymakers, private investors, and project managers). Understanding their impact, significance, and interaction effects-factors that sometimes moderate or accentuate private investment-is crucial. The identified patterns illuminate optimal risk allocation practices, offering practical insights to enhance the effectiveness and sustainability of projects.

Perception of photovoltaic energy consumption in the Spanish primary sector. An environmentally profitable alternative.

Agriculture and livestock farming are activities that depend on energy consumption. Photovoltaic self-consumption systems can reduce the production costs of these actors, especially in periods of high-energy price volatility. This work aimed to determine the degree of implementation of photovoltaic self-consumption systems, their relationship with the economic impact of the energy crisis, and the perception of producers to use renewable energy sources in the Spanish agricultural system as it is one of the most important at European level. For this purpose, a survey of the Spanish agricultural and livestock system, involving 396 primary producers, was carried out between December 2022 and March 2023. The results suggest that self-consumption systems are in place in 49.1% of all farms and that these have had a positive effect in alleviating the rising energy costs suffered by the Spanish primary sector. In summary, Spanish primary producers generally have a favorable perception of the use of renewable energies on their farms, especially photovoltaic. However, the cluster analysis shows the fact that there are two types of producers, active and passive, from an environmental point of view. The characterization of this type of producers can help the Spanish Administration to improve the efficiency of its energy strategy, and can be a source of inspiration for the governments of other countries.

The adoption of renewable energy towards environmental sustainability: Evidence from Partial Least Square Structural Equation Modelling (PLS-SEM).

The effect of carbon emissions on the environment has made some of the Sustainable Development Goals difficult to achieve. Despite the efforts of international bodies, there is still a need to address the problem since the transition is not complete. Therefore, this study investigates the effect of globalization, economic growth, financial inclusion, renewable energy, and government institutions on carbon emissions from the period of 1998 to 2021. To be able to assess both the direct and indirect effects of the variables, the Partial Least Square Structural Equation Modelling is employed, where renewable energy serves as the mediator, and the Two-Stage Least Squares is employed as the robustness check. The findings of the study reveal that globalization promotes the use of renewable energy, but financial inclusion has a negative effect on renewable energy use. Renewable energy has a direct positive and significant effect on carbon emissions. Financial inclusion has an indirect negative and significant effect on carbon emissions. The results imply that more enlightenment on financial inclusion will help a smooth transition, and globalization should be embraced when all environmental regulations are enforced.

Enhancing the control of doubly fed induction generators using artificial neural networks in the presence of real wind profiles.

This study tackles the complex task of integrating wind energy systems into the electric grid, facing challenges such as power oscillations and unreliable energy generation due to fluctuating wind speeds. Focused on wind energy conversion systems, particularly those utilizing double-fed induction generators (DFIGs), the research introduces a novel approach to enhance Direct Power Control (DPC) effectiveness. Traditional DPC, while simple, encounters issues like torque ripples and reduced power quality due to a hysteresis controller. In response, the study proposes an innovative DPC method for DFIGs using artificial neural networks (ANNs). Experimental verification shows ANNs effectively addressing issues with the hysteresis controller and switching table. Additionally, the study addresses wind speed variability by employing an artificial neural network to directly control reactive and active power of DFIG, aiming to minimize challenges with varying wind speeds. Results highlight the effectiveness and reliability of the developed intelligent strategy, outperforming traditional methods by reducing current harmonics and improving dynamic response. This research contributes valuable insights into enhancing the performance and reliability of renewable energy systems, advancing solutions for wind energy integration complexities.

Combining the role of urbanization and renewable energy in sustainable development: testing the EKC hypothesis for Africa.

The pressing necessity to curb greenhouse gas emissions due to climate change has sparked significant scientific interest in comprehending the factors behind CO2 emissions, particularly concerning environmental sustainability challenges. Nonetheless, there exists a notable gap in our understanding of how the process of urbanization interacts with the utilization of renewable energy to impact CO2 emissions. This research endeavor seeks to evaluate the complex interplay among urbanization, renewable energy, and CO2 emissions across 46 African nations spanning from 1990 to 2019. To accomplish this objective, a variety of econometric methodologies are employed, including Driscoll-Kraay standard errors, IV-GMM, and method of moments quantile regression (MMQR) panel estimations to address issues like cross-sectional dependencies, endogeneity, heterogeneity, and panel Granger causality examination. The empirical results suggest that urbanization leads to an increase in CO2 emissions, whereas the consumption of renewable energy plays a role in enhancing environmental quality by reducing CO2 emissions. A significant outcome of the study is the revelation that a combination of urbanization and renewable energy leads to a decrease in carbon emissions. Moreover, the Environmental Kuznets Curve (EKC) hypothesis is validated. Lastly, through the Dumitrescu-Hurlin panel causality test, it is uncovered that urbanization and renewable energy consumption exhibit a bidirectional relationship with CO2 emissions. To reduce dependence on fossil fuels and curb CO2 emissions, policymakers should promote renewable energy usage in urban areas.

Navigating sustainable horizons: exploring the dynamics of financial stability, green growth, renewable energy, technological innovation, financial inclusion, and soft infrastructure in shaping sustainable development.

This paper examines sustainable development, which employs an integrated approach to tackle environmental, social, and economic challenges. It provides a theoretical underpinning by examining sustainable development's inception, fundamental tenets, and conceptual structures. This study highlights the interdependence of social equity, economic prosperity, and environmental conservation, emphasizing the need for a comprehensive approach. Quantitative methodology is utilized in this study, and the dependent variable is sustainable development. Financial risk, green growth, technological innovation, renewable energy, financial inclusion, and soft infrastructure are all independent variables. The analysis is predicated on secondary data from the Organization for Economic Cooperation and Development and World Development Indicators databases spanning 2004 to 2019. An entropy-weighted method used for the green growth index is a metric that enhances the precision of variable indicators. Cointegration, correlation, VIF, cross-sectional dependency, and stationarity tests are among the diagnostic tests that inform the selection of methods for the panel data set. It is determined that fully modified ordinary least squares is the suitable technique. The findings suggest statistically significant positive correlations among greenhouse gases, financial inclusion, and soft infrastructure. Conversely, significant negative correlations exist between financial risk, green growth, renewable energy, and technological innovation. An estimated 55% long-run variance is present. The study's key finding is that financial risk has an adverse effect on sustainable development, while an impactful relationship where increased green growth is linked to decreased GHG emissions. This association is notably significant. Results show that renewable energy has a negative coefficient and significant negative impact on greenhouse gases, showing an active relation to enhancing sustainable development. In contrast, financial inclusion has a significant positive effect on sustainable development. The implications imply that providing incentives to institutions engaged in alternative energy, precisely renewable sources, could positively impact the environment. Government policies and funding regulations oriented toward sustainable development are indispensable for environmental sustainability. Government policies and incentives are pivotal in advancing an environmentally conscious and sustainable future. This study's contribution lies in elucidating the positive correlation between government interventions and promoting renewable energy adoption, thereby paving the way for a greener tomorrow.

The dynamic risk spillover effects among carbon, renewable energy, and electricity markets based on the TVP-VAR-DY model.

The linkages among carbon, renewable energy, and electricity markets are gradually strengthening. In order to prevent risk transmission among markets, this paper uses the TVP-VAR-DY (Time-Varying Parameter-Vector Auto Regression-Dynamic) model to analyze the dynamic risk spillover effects and network structure of risk transmission among carbon, renewable energy, and electricity markets. The empirical results show that there are significant asymmetric spillover effects among carbon, renewable energy, and electricity markets. The total spillover index shows that spillover effects among carbon, renewable energy, and electricity markets are time-varying, especially during unexpected events. Besides, the net spillover index indicates that the spillover effects are bidirectional, asymmetric, and time-varying. Finally, under the influence of unexpected events, the network structures of risk transmission among carbon, renewable energy, and electricity markets are heterogeneous. Compared to the Russia-Ukraine conflict, the COVID-19 pandemic has a more significant impact on these markets.

Is renewable energy development endangering power supply reliability?

The development of renewable energy is indispensable to promoting the low-carbon transition of power systems. Nevertheless, it also brings uncertainty to the reliability of power systems. Herein, the panel model and panel threshold model are established based on the provincial data in China from 2012 to 2020. The results reveal that the negative effect of renewable energy development (RED) on power supply reliability (PSR) is gradually lessening. If the development of renewable energy is a rational way, power supply reliability can be improved. Additionally, energy-exporting regions bear more risks of RED than energy-importing regions. If the coal prices are stable and natural disasters are manageable, the RED can enhance the PSR. However, if they are not stable or controllable, a high proportion of renewable energy in the power system could cause even more severe problems with PSR. Based on these critical results, some suggestions are made to promote the formation of a new power system.

Shifting from techno-economic to socio-ecological priorities: Incorporating landscape preferences and ecosystem services into the siting of renewable energy infrastructure.

This study examines the siting scenarios for renewable energy installations (REI) in a mountainous region of Europe (Switzerland), incorporating the external costs of ecosystem services and, innovatively, social preferences. This approach challenges the prevalent techno-economic siting paradigm, which often overlooks these externalities. To minimize the external costs of the scenarios while maximizing energy yield, Marxan, an optimization software, was employed. The energy target for all scenarios is set at 25 TWh/a, stemming from the energy gap anticipated due to the phase-out of Swiss nuclear reactors by 2050. This target is met using renewable energy infrastructure such as wind, roof-mounted photovoltaic, and ground-mounted photovoltaic systems. By integrating social preferences into the optimization, this study showcases a promising implementation that transcends the software's intended applications. It complements techno-economic approaches and offers alternative decision-making avenues. The conventional "roof first" strategy proved ineffective in preventing extensive land use for the development of new renewable energy infrastructure. Strategies incorporating ground-mounted photovoltaic infrastructure were more spatially, ecologically, and socially efficient than those without. The strategy optimized for energy yield exhibited the highest spatial efficiency but incurred significant ecosystem service costs and, surprisingly, had low social costs. In contrast, the strategy prioritizing ecosystem services was the most efficient in terms of ecosystem service costs but had elevated social costs and was spatially less efficient than other strategies. The strategy optimized for social preferences incurred the lowest social costs and excelled in spatial efficiency and ecosystem service costs. Notably, this strategy employed a limited number of planning units linked to both high ecosystem service and social costs. The findings underscore that incorporating social preferences significantly enhances the evaluation of siting options. This inclusion allows for the social acceptance of investments to be factored into costs, facilitating more informed and inclusive decisions.

Clean energy transition and climate vulnerabilities: A comparative analysis of European and non-European developed countries.

Currently, the world faces an existential threat of climate change, and every government across the globe is trying to come up with strategies to tackle the severity of climate change in every way possible. To this end, the use of clean energy rather than fossil fuel energy sources is critical, as it can reduce greenhouse gas emissions and pave the way for carbon neutrality. This study examines the impact of the energy cleanability gap on four different climate vulnerabilities, such as ecosystem, food, health, and housing vulnerabilities, considering 47 European and non-European high-income countries. The study considers samples from 2002 to 2019. This study precedes the empirical analysis in the context of a quadratic relationship between the energy cleanability gap and climate vulnerability. The study uses system-generalized methods of the moment as the main technique, while panel quantile regression is a robustness analysis. Fixed effect and random effect models have also been incorporated. The study finds that the energy cleanability gap and all four climate vulnerabilities demonstrate a U-shaped relationship in both European and non-European countries, implying that when the energy cleanability gap increases, climate vulnerability decreases, but after reaching a certain threshold, it starts to increase. Development expenditure is found to be negatively affecting food and health vulnerabilities in European nations, while it increases food vulnerability and decreases health vulnerability in non-European nations. Regarding industrialization's impact on climate vulnerabilities, the study finds opposite effects for the European and non-European economies. On the other hand, for both groups, trade openness decreases climate vulnerabilities. Based on these results, the study recommends speeding up the energy transition process from fossil fuel energy resources towards clean energy resources to obtain carbon neutrality in both European and non-European groups.

Exploring the impact of climate technology, financial inclusion and renewable energy on ecological footprint: Evidence from top polluted economies.

Most South Asian countries' economies have grown dramatically during the past few decades. However, in light of their environmental sustainability goals, the quality of such growth performances by South Asian nations is called into doubt by the concurrent degradation in environmental quality. Consequently, reducing the environmental challenges these nations encounter is prioritized on the agendas of the relevant authorities. This study aimed to analyze the effect of the top 11 most polluted countries' levels of financial inclusion, technological innovation, consumption of renewable energy, and adoption of climate technology on environmental deterioration from 2000 to 2022. Therefore, this research aims to use cutting-edge panel data econometric techniques to investigate the factors contributing to high carbon footprints in the world's most polluted nations. The results support an inverted U-shaped relationship between economic growth and carbon footprints, crediting the environmental Kuznets curve concept. In addition, it has been shown that TECH, REC, and CT can reduce carbon footprints in both the short and long term, while GDP and financial inclusion only affect carbon footprints in the long term. The results further endorsed the pollution haven hypothesis by showing that GDP positively affects carbon footprint. As a result, leading polluting economies need to strengthen their financial sectors, create green technology, migrate to renewable energy, and limit financial inclusion to improve environmental quality.