A model is presented in this work for simulating endogenously the evolution of the marginal costs of production of energy carriers from non-renewable resources, their consumption, depletion pathways and timescales. Such marginal costs can be used to simulate the long term average price formation of energy commodities. Drawing on previous work where a global database of energy resource economic ...

The current electricity demand has asserted the mandatory requirement of establishing renewable energy systems. This paper reviews the major contributions on practically establishing the hybrid renewable energy systems. The contributions are investigated for its practical relevance with the growing demand, exploration of various renewable energy resources and performance accomplishment. The per...

Worldwide efforts are being made to increase the use of renewable energy in order to reduce the emission of greenhouse gases. Africa is blessed with abundant resources of fossil fuels as well as renewable energy resources. Yet the continent, especially sub-Saharan Africa, is afflicted with power crisis. For example, in Nigeria, erratic electricity supplies will persist unless the government div...

Japan, South Korea, and Taiwan are deficient of domestic fossil energy sources and depend significantly on imported fuels. Since the oil shock in the 1970s, all three countries have promoted renewable energy as an alternative energy source to improve energy security. Currently, renewable energy is being promoted to build low-carbon economies. This study reviews the development of renewable ener...

This paper discusses the perspective of renewable energy (wind, solar, wave and biomass) in the making of strategies for a sustainable development. Such strategies typically involve three major technological changes: energy savings on the demand side, efficiency improvements in the energy production, and replacement of fossil fuels by various sources of renewable energy. Consequently, large-sca...

It is necessary to minimize the environmental impact and utilize natural resources in a sustainable and efficient manner in the early design stage of developing an environmentally-conscious design for a heating, ventilating and air-conditioning system. Energy supply options play a significant role in the total environmental load of heating, ventilating and air-conditioning systems. To assess th...

A majority of states in the United States have instituted Renewable Portfolio Standards (RPS), which require electric service providers to meet a portion of their demand using renewable energy resources. These requirements, along with state and federal incentives, are the main drivers for the construction of utility-scale renewable energy plants in the United States. In order to help understand...