Challenges and Opportunities for the Renewable Energy Economy
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A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Reboredo, Juan Carlos (Ed.) Book — Published Version Challenges and opportunities for the renewable energy economy Provided in Cooperation with: MDPI – Multidisciplinary Digital Publishing Institute, Basel Suggested Citation: Reboredo, Juan Carlos (Ed.) (2020) : Challenges and opportunities for the renewable energy economy, ISBN 978-3-03936-474-9, MDPI, Basel, http://dx.doi.org/10.3390/books978-3-03936-474-9 This Version is available at: http://hdl.handle.net/10419/230542 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. 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For citation purposes, cite each article independently as indicated on the article page online and as indicated below: LastName, A.A.; LastName, B.B.; LastName, C.C. Article Title. Journal Name Year, Article Number, Page Range. ISBN 978-3-03936-473-2 (Hbk) ISBN 978-3-03936-474-9 (PDF) c 2020 by the authors. Articles in this book are Open Access and distributed under the Creative Commons Attribution (CC BY) license, which allows users to download, copy and build upon published articles, as long as the author and publisher are properly credited, which ensures maximum dissemination and a wider impact of our publications. The book as a whole is distributed by MDPI under the terms and conditions of the Creative Commons license CC BY-NC-ND. Contents About the Special Issue Editor ...................................... vii Preface to ”Challenges and Opportunities for the Renewable Energy Economy” ........ ix Chao Bi, Jingjing Zeng, Wanli Zhang and Yonglin Wen Modelling the Coevolution of the Fuel Ethanol Industry, Technology System, and Market System in China: A History-Friendly Model Reprinted from: Energies 2020, 13, 1034, doi:10.3390/en13051034 ................... 1 Mohd Amin Abd Majid, Hamdan Haji Ya, Othman Mamat and Shuhaimi Mahadzir Techno Economic Evaluation of Cold Energy from Malaysian Liquefied Natural Gas Regasification Terminals Reprinted from: Energies 2019, 12, 4475, doi:10.3390/en12234475 ................... 27 Juan C. Reboredo, Andrea Ugolini and Yinfei Chen Interdependence Between Renewable-Energy and Low-Carbon Stock Prices Reprinted from: Energies 2019, 12, 4461, doi:10.3390/en12234461 ................... 41 Hussein M. K. Al-Masri, Ayman Al-Quraan, Ahmad AbuElrub and Mehrdad Ehsani Optimal Coordination of Wind Power and Pumped Hydro Energy Storage Reprinted from: Energies 2019, 12, 4387, doi:10.3390/en12224387 ................... 55 Paulino Martinez-Fernandez, Fernando deLlano-Paz, Anxo Calvo-Silvosa and Isabel Soares Assessing Renewable Energy Sources for Electricity (RES-E) Potential Using a CAPM-Analogous Multi-Stage Model Reprinted from: Energies 2019, 12, 3599, doi:10.3390/en12193599 ................... 70 Tengku Adeline Adura Tengku Hamzah, Zainorfarah Zainuddin, Mariney Mohd Yusoff, Saripah Osman, Alias Abdullah, Khairos Md Saini and Arno Sisun The Conundrum of Carbon Trading Projects towards Sustainable Development: A Review from the Palm Oil Industry in Malaysia Reprinted from: Energies 2019, 12, 3530, doi:10.3390/en12183530 ................... 90 Anna Manowska and Andrzej Nowrot The Importance of Heat Emission Caused by Global Energy Production in Terms of Climate Impact Reprinted from: Energies 2019, 12, 3069, doi:10.3390/en12163069 ...................105 Yaovi Ou´ezouAzouma, Lynn Drigalski, ZdenˇekJegla, Marcus Reppich, VojtˇechTurek and Maximilian Weiß Indirect Convective Solar Drying Process of Pineapples as Part of Circular Economy Strategy Reprinted from: Energies 2019, 12, 2841, doi:10.3390/en12152841 ...................117 Hugo Algarvio, Ant´onioCouto, Fernando Lopes and Ana Estanqueiro Changing the Day-Ahead Gate Closure to Wind Power Integration: A Simulation-Based Study Reprinted from: Energies 2019, 12, 2765, doi:10.3390/en12142765 ...................135 v About the Special Issue Editor Juan Carlos Reboredo is Professor of Economics at the Universidade de Santiago de Compostela, Spain. His research focuses on the analysis of risk in capital markets and the dependence relationship between financial and energy markets. Within these areas, he analyzes the influence of oil prices on the valuation of financial assets and exchange rates, systemic risk in financial markets and systemic oil market effects of renewable energy markets. His most recent research analyzes the impact of climate risk on financial and energy markets, financial stability and investment decisions. His research papers have been published in journals such as Energy Economics, Energy Policy, Journal of Banking and Finance, Journal of International Money and Finance, Renewable and Sustainable Energy Reviews and Emerging Markets Review, among others. vii Preface to ”Challenges and Opportunities for the Renewable Energy Economy” ◦ Since the 2015 Paris Agreement to keep the average global temperature rise below 2 C, investors, consumers and regulators have no longer been able to turn their backs on the need to green the economy in the face of the swelling tide of climate-related regulations and technological disruption. While the transition to a low-carbon economy might potentially cause severe disruption and losses for companies with business models that rely directly or indirectly on fossil fuels, it also brings new investment opportunities for low-carbon and renewable-energy companies. Renewable energy deployment as an alternative to traditional energy sources is the cornerstone of emission-reduction energy policies that aim to facilitate the transition to a low-carbon economy. However, the transition to renewable energies poses risks and opportunities for companies with business models that rely directly or indirectly on renewables, and this, in turn, will be reflected in the revaluation of assets and in the reallocation of private and public financial investments from carbon-intensive to low-carbon energies. In its nine independent chapters, this book addresses current challenges and opportunities for renewable energies from the technological, economic and financial perspectives. Chapter One examines how entry regulations, production subsidies, R&D subsidies and the ethanol mandates impact the growth of the ethanol fuel industry in China, with specific attention paid to the effectiveness of different policies in boosting ethanol production. Chapter Two evaluates the technical and economic viability of capturing cold energy released during regasification processes in Malaysian liquefied natural gas regasification terminals, documenting that a substantial amount of cold energy could be generated with a high internal rate of return over the long term. Chapter Three explores market interdependence and price spillovers between renewable-energy and low-carbon assets so as to determine the potential diversification benefits of renewable energy investment in the European and USA stock markets. Empirical evidence shows that renewable-energy and low-carbon stock price dependence differs across markets, and this, in turn, has implications for the design of carbon-resilient portfolios and risk management strategies, as well as for the implementation of public funding policies to support the transition to a low-carbon economy. Chapter Four evaluates the advantages of combining wind power with pumped hydro-energy storage and reports that, from an economic, environmental and technical perspective, combining these two sources of energy generation is more efficient than the conventional approach