New federal legislation proposes to reduce greenhouse gas (GHG) emissions associated with biofuel production. To comply, existing corn ethanol plants will have to invest in new more carbon efficient production technology such as dry fractionation. However, this will be challenging for the industry given the present financial environment of surplus production, recent profit declines, numerous bankruptcies, and lender imposed covenants. This study examines a dry-mill ethanol firm's ability to invest in dry fractionation technology in the face of declining profitability and stringent lender cash flow repayment constraints. Firm level risk aversion also is considered when determining a firm's willingness to invest in dry fractionation technology. A Monte Carlo simulation model is constructed to estimate firm profits, cash flows, and changes in equity following new investment in fractionation to determine an optimal investment strategy. The addition of a lender-imposed sweep, whereby a percentage of free cash flow is used to pay off extra debt in high profit years, reduces the firm's ability to build equity and increases bankruptcy risk under investment. However, the sweep increases long-run equity because total financing costs are reduced with accelerated debt repayment. This thesis shows that while ethanol firm profits are uncertain, the lender's imposition of a sweep combined with increased profit from dry fractionation technology help the firm increase long-run financial resiliency.

The development of techniques for colloidal nanoparticle synthesis has allowed scientists to fabricate materials that can manipulate light on a scale that is small even compared to the wavelength of the light itself. This ability has led to the development of myriad and diverse applications of nanostructures in wide-ranging fields. This thesis focuses on the investigation and exploitation of nanoscale material properties in the fields of medicine and energy. The unique optical properties of nanoparticles arise from their size and their high surface area to volume ratios compared to bulk materials. As a result of this relationship, the surface characteristics of nanoparticles generally dominate their properties, whereas in bulk materials the surface atoms have very little bearing on the properties of the composite. Chapter 1 gives an introduction to nanoparticles and their optical properties, including a discussion of the plasmon resonance and the properties imbued upon nanoparticles possesing such a resonance as well as the applicability of these properties that will be explored in the subsequent chapters. Chapter 2 presents a study of the interaction of cationic, hydrophobic gold nanoparticles as probes to elucidate specific regions of interest on cell surfaces. The high imaging contrast of gold nanoparticles in electron microscopy allows for visual, macroscopic observation of the aggregation patterns formed by these nanoparticles on cell surfaces. Plasmon resonant coupling between proximal nanoparticles is exploited in order to monitor nanoprobe binding and localization over time with the use of extinction spectroscopy. The role of surface proteins in the nanoparticle-cell surface interaction is elucidated, generating composite data with relevance in pharmaceutical development and pharmacokinetics. Additionally, bacteria strain-dependent toxicity is observed and subsequently investigated for smaller gold nanoparticle probes, demonstrating a potential use for nanoparticles as strain-specific antibiotics. The development of affordable, effective antibiotic technology is one of the major scientific challenges of our time; infections from pathogen-infested drinking water alone account for millions of deaths each year worldwide. In Chapter 3, we investigate the use of titanium dioxide as an inexpensive method to harness solar energy to split water into reactive species and thereby decontamitate solutions of E. coli. Though titanium dioxide is an excellent catalyst for water splitting, it requires UV irradiation, which is fairly lacking in the solar emission spectrum. Further, recuperation of titanium dioxide nanoparticles from solution is non-trivial, and its immobilization into a film greatly limits its surface area and charge carrier efficiency, thereby limiting its activity. We treat both the poor visible light absorption capability as well as the surface area limitation in this study. CdS semiconductor nanocrystals are used to extend the absorption edge of TiO₂ further into the visible light region of the spectrum by providing for lower-energy photon absorption and charge injection into titanium dioxide. TiO₂ is also electrochemically anodized to generate TiO₂ nanotube arrays, which have greatly increased surface area as well as more efficient charge transfer properties compared to thin films of TiO₂ nanoparticles. The utility of nanoparticles in increasing the light absorption of other systems continues as a theme in the work presented in the next two chapters. Chapter 4 ex- amines the plasmonic enhancement of the solar energy conversion in a biomimetic system. In this endeavor, we enhance the photocurrent generated by a light-transducing, proton-pumping protein, bacteriorhodopsin, in a 3-dimensional wet electrochemical cell. First, we increase the overall charge carrier separation with the use of a proton- selective membrane in order to minimize ionic depolarization in the cell. We then use plasmonic nanoparticles to exploit an irregularity in the bacteriorhodopsin photocycle known as the blue light effect. This effect shortens the timescale of the photocyle by more than 99% via blue photon absorption, but it has a very low natural occurrence. Plasmonic nanoparticles tuned to the blue wavelength region increase the flux of blue photons on a local level and thereby increase the overall photocurrent generation. We first examine the importance of nanoparticle field strength to photocurrent enhancement using silver nanospheres with different capping shell thicknesses. We then consider the trade-off between (1) using a nanoparticle with a plasmon resonance tuned perfectly to the blue wavelength region and (2) using a nanoparticle with a stronger field intensity but weaker energetic presence in the blue. By minimizing ionic depolarization, minimizing shielding of the plasmon electromagnetic field, and maximizing the field strength while maintaining the plasmon frequency at the proper wavelength, we demonstrate an enhancement of 5,000-fold in the photocurrent production by bacteriorhodopsin. Chapter 5 explores a variation on the theme of Chapter 4 with an application in cancer therapeutics. Here, a photodynamic cancer drug, protoporphyrin IX (PpIX), is incorporated into complexes with silver nanospheres, gold nanospheres, and gold nanorods. Each of these nanoparticles displays a plasmon resonance in a different region of the spectrum, with consequent different overlap with the absorption or emission of the drug. Photodynamic therapeutic potential is measured in situ and in vivo, and the drug activity is shown to be strongest when drug absorption overlaps with plasmon resonance. Absorption by electronic excitations in the particle crystal lattice is shown to function as a competitive light filter and decrease drug activity. Additionally, the method of attachment of the drug to the nanoparticle is examined. Maximum enhancement of drug activity is shown to require the drug to remain bound close to the nanoparticle surface, where the electromagnetic field strength is highest. This plasmonic enhancement effect on drug activity is shown to outstrip the increase in drug activity seen when using the nanoparticle solely as a delivery platform. In Chapter 6, some synthetic techniques are presented for various nanomaterials. Included are syntheses for gold, silver, and semiconductor nanoparticles of a variety of shapes and sizes as well as for TiO₂ nanotube arrays. The relationship of the ratio of capping agent to metal salt is explored for gold nanospheres, and a method for facile tuning of the longitudinal plasmon resonance displayed by gold nanorods is presented. Synthetic techniques are also presented for the nanoparticles whose applications are explored in the preceding chapters.

Thesis (MBA (Business Management))--University of Stellenbosch, 2009. / ENGLISH ABSTRACT: It has been established worldwide that energy efficiency undertakings are the fastest, most cost-effective and cleanest way to extend energy supplies. When the energy supply made available through energy efficiency projects are compared with increasing primary supply through building new conventional generation facilities, the former is in most cases also safer, more reliable and a more secure form of investment. Energy service companies (ESCOs) are the recognised implementation vehicles of energy efficiency projects and have been in use internationally for many years for this purpose. Globally, however, ESCOs do not have a good history of being viable business enterprises. The most important barriers identified internationally hindering ESCOs’ growth and sustainability were the potential customers’ lack of awareness, information and understanding regarding energy efficiency projects, the financing of these projects, as well as the support of government on energy efficiency policies and regulations. The urgency of implementing energy efficiency measures in South Africa is critical based on the precarious situation of the national electrical suppliers’ ability to provide electricity unfailingly to all its current and future customers. The South African electrical energy situation should therefore provide tremendous opportunities to the local ESCO industry. The aim of this study was therefore to reiterate the importance of energy efficiency projects and to describe the barriers to growth and sustainability experienced by ESCOs in South Africa against the international backdrop. This was done by way of a survey sent out to all registered ESCOs in South Africa. Based on the responses to the survey, the South African industry is in dire straits and is hindered by various barriers to their growth and sustainability. The study identified eight major barriers in the South African ESCO industry which are similar to those experienced by ESCOs internationally. The uniqueness of the local barriers however, is that the industry operates in a highly regulated environment and that these regulators, being the government and Eskom, are recognised as the main perpetrators responsible for most of these barriers, largely due to a lack of dedicated action. Furthermore, the study shows that it is critical for all role players in the South African energy efficiency industry, and specifically the South African government and Eskom, to recognise these barriers and to assist in solving them to improve the growth opportunities in the ESCO industry. Removal of these barriers will not only improve the electricity situation, but will also have a number of positive effects on the micro and macro-economic levels of South Africa, as well as the environment. Finally, the study makes suggestions about the way forward through a number of actions to be taken to lower or remove the most important of these barriers. / AFRIKAANSE OPSOMMING: Dit is reeds wêreldwyd bevestig dat energie-effektiwiteitsprojekte die vinnigste, kostedoeltreffendste en omgewingsvriendelikste manier is om energiebronne uit te brei. Wanneer die energieverskaffing wat beskikbaar gestel word deur energieeffektiwiteitsprojekte vergelyk word met die vermeerdering van primêre energie deur die bou van nuwe konvensionele opwekkingsfasiliteite, is eersgenoemde in die meeste gevalle ook veiliger en ’n meer betroubare en stabiele beleggingsvorm. Energie-diensmaatskappye (energy service companies (ESCOs)) is die erkende implementeringsmediums vir energie-effektiwiteitsprojekte en word reeds baie jare lank internasionaal vir hierdie doel aangewend. ESCOs het egter wêreldwyd nie ’n goeie rekord as lewensvatbare sake-ondernemings nie. Die vernaamste hindernisse wat ESCOs se groei en welvaart stuit is internasionaal geïdentifiseer as voornemende kliënte se gebrek aan bewustheid, inligting en begrip rakende energie-effektiwiteitsprojekte, die finansiering van sodanige projekte, asook die ondersteuning van die regering ten opsigte van energieeffektiewiteitsbeleide en -regulasies. Daar is groot dringendheid om energie-effektiewe projekte en maatreëls in Suid Afrika te implementeer, gebaseer op die huidige onsekerheid of die nasionale elektrisiteitsverskaffer wel in staat is om ’n betroubare bron van elektrisiteit aan sy huidige en voornemende kliënte te voorsien. Die Suid Afrikaanse elektriese energie situasie behoort daarom heelwat geleenthede te skep vir die plaaslike ESCO-industrie. Die doel van hierdie studie was dus om die belangrikheid van energie-effektiwiteitsprojekte te beklemtoon en om die hindernisse te omskryf wat ESCOs in Suid Afrika se groei en welvaart stuit, gesien vanuit ‘n internasionale perspektief. Dit was gedoen deur ‘n vraelys aan alle geregistreerde ESCOs te stuur. Na aanleiding van die terugvoering op die vraelyste, sukkel hierdie industrie om kop bo water te hou weens verskeie hindernisse wat hulle groei en welvaart stuit. Hierdie studie identifiseer agt belangrike hindernisse in die Suid-Afrikaanse ESCO industrie wat ooreenstem met die wat deur internasionale ESCOs ondervind word. Die uniekheid van die plaaslike hindernisse is egter dat die industrie werksaam is in ‘n streng gereguleerde omgewing en dat die reguleerders, die regering en Eskom, ook uitgewys word as die vernaamste skuldiges wat verantwoordelik is vir meeste van die hindernisse, hoofsaaklik as gevolg van hulle gebrek aan toegewyde uitvoering van take. Die bevindinge van hierdie studie toon verder dat dit krities is vir al die rolspelers in die Suid-Afrikaanse energie-effektiwiteitsindustrie, spesifiek die Suid-Afrikaanse regering en Eskom, om hierdie hindernisse te erken en om saam te werk om hulle te oorkom en sodoende die groeigeleenthede in die ESCO-bedryf te verbeter. Die verwydering van hierdie hindernisse sal nie alleen die elektrisiteitsituasie verbeter nie, maar sal ook ’n aantal positiewe invloede hê op die mikro- en makro-ekonomiese vlak van Suid-Afrika, sowel as die omgewing. Die studie sluit af met voorstelle rakende die uitvoering van verskeie aksies wat die verwydering van die vernaamste hindernisse tot gevolg sal hê, of die hindernisse se impak op die industrie sal verminder.

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In addressing the question 'How do energy relations affect the Black Sea Region (BSR) and, in particular, the Russian-Turkish relationship?', this thesis argues that while energy relations have been a securitising factor in the BSR as a whole, they have played a desecuritising role in the Russian-Turkish relationship. Inspired by Barry Buzan and Ole Wæver's Regional Security Complex Theory (RSCT), I adapt elements of their theoretical approach, establishing a framework which draws up on the concept of (de)securitisation and structuring my analysis on the basis of four different levels: domestic, bilateral, regional and interregional/global. My original contribution to the existing literature comprises an analysis of Russian-Turkish relations in the BSR, with a primary focus on energy, on the basis of a critical engagement with the concept of (de)securitisation. In particular, I have sought to apply a more nuanced account of the concept of the (de)securitisation. Regarding solving these issues, I expand the analysis to pipeline projects and use the categorisation of Lene Hansen (2012) on desecuritisation. Using this conceptual framework as the basis for my empirical analysis, I first argue that the relationship between Russia and Turkey has been transformed from one where they were historical enemies to a multidimensional partnership, in which energy is one of the most important factors. The desecuritisation of energy is basically related to economic concerns and political developments, and as a result, Turkey is defined as a new energy partner/route for Russia while Russia is a reliable supplier for Turkey. However, as a second argument, since politics is dynamic, the stability of this new relationship might be in question. In particular, relations with regional and global actors, particularly on energy, might form the basis of a new threat to bilateral relations. Despite these problems, nevertheless, two sides make an effort to mitigate bilateral tensions and minimise factors that might fuel conflict between them.

Renewable energy (RE hereafter) has been observed as a potentially significant new source of jobs and rural growth in both OECD and BRICs countries, and a means of addressing environmental and energy security concerns. The global deployment of RE has been expanding rapidly. For instance, the RE electricity sector grew by 26% between 2005 and 2010 globally and currently provides about 20% of the world's total power (including hydro-power) (OECD, 2012). Rural areas attract a large part of investment related to renewable energy deployment, rending to be sparsely populated but with abundant sources of RE. Several case studies have found that RE deployment can provide hosting communities with some benefits including new revenue sources, new job and business opportunities, innovation in products/practices/policies in rural areas, capacity building and community empowerment, and affordable energy. There is a growing body of evidence on the instrumental role that entrepreneurs and small businesses play in driving local and national economies. The structure of rural economies is essentially composed of small enterprises, which are responsible for most of the job growth and the innovation. Rural development is a key element of strategies to reduce poverty and create income and employment opportunities (UNIDO, 2003). It is important to unleash and harness the creativity of grassroots entrepreneurs but they are posed with many challenges, the biggest being these grassroots inventions don't scale up. To overcome these challenges and promote rural entrepreneurship, support roles are required; this is also where the importance and role of institutions and their planned arrangements (for example, partnerships) are much debated in both domestic and international forums. This research investigates the current institutional arrangements that support solar entrepreneurship which creates solar energy based income-generating micro enterprises in rural India. In addition to that, it explores the wider implications on rural development that these entrepreneurships have while using these solar RETs. Institutions and individuals promoting rural development see entrepreneurship as a strategic development intervention that could accelerate the rural development process (Ezeibe, 2013). India, being the only country with a national ministry dedicated to RE initiatives (the MNRE, Government of India) and also ranking third on the renewable energy country attractiveness index (E&Y, 2013; 2016) makes an interesting country choice for investigation. The thesis applies a qualitative research method with an exploratory design to understand the interaction process between institutions and how different institutions support rural development to generate an in-depth analysis of existing institutions using a conceptual framework.

In the light of advancing climate change and the anticipated scarcity of affordable fossil fuels, a transition towards more sustainable energy systems is vital to allow for the long-term sustainability of human wellbeing. Energy is a key sustainability issue, at the heart of the complex interactions of socioeconomic and biophysical systems. The overall aim of this study is to contribute to furthering the understanding of these systems interactions. It intends to deliver methodological insights on how to identify and appraise favourable energy futures in a changing and uncertain world. In order to cope with the complexity and uncertainty of future developments and with the plethora of partly contradictory social preferences, a participatory approach was combined with scenario development and the application of an appraisal tool that takes account of the multidimensionality of system interlinkages. In a case study for Austria, favourable renewable energy scenarios were developed in a participatory setting, involving key Austrian energy stakeholders. The scenario development consisted of two stages: first an exploratory stage with stakeholder engagement and second a modelling stage generating forecasting-type scenarios. Accordingly, the scenarios consist of a narrative part, the storyline, and a modelled, quantitative part. The application of Multi-Criteria Analysis (MCA) allowed the integration of multi-dimensional sustainability information (social, environmental, economic, and technological criteria) and the social preferences of the stakeholders into the appraisal of the energy scenarios. In the case study presented, five renewable energy scenarios for Austria for 2020 were compared against 17 sustainability criteria. The study illustrates how the combined use of participatory scenario building techniques and MCA acknowledges and integrates inherent complexity, irreducible uncertainty, multi-dimensionality, and, a multiplicity of legitimate perspectives in the appraisal. The main empirical result of the sustainability appraisal undertaken shows that, contrary to the current energy policy in Austria, a profoundly decentralised energy system (scenario E) and an innovative long-term investment strategy (scenario C) rank highest, whereas the renewable strategy based on biomass (scenario D), which represents the dominant political trajectory in Austria's renewable energy policy, ranks very low. The research demonstrates the integration of biophysical, social, economic, and, technological appraisal criteria, presents and discusses best practice criteria, and, illustrates the challenges and opportunities to incorporate bio-physical aspects into the concept of sociotechnical systems and their transitions in the light of a more sustainable development.

China's renewable energy (RE) sector is developing rapidly, driven by growing energy needs, increased awareness of climate change, and heightened concerns for environmental degradation caused by the country's industrialisation process over the past decades. The Chinese government has been dedicated to the development of its RE industry and has engaged extensively in drawing lessons from abroad and applying these lessons to its own experiences in the post transfer learning process to develop policies that have contributed to the development of the largest wind power sector in the world. This thesis provides a perspective of how China, a ‘socialist market economy', has applied primarily market mechanisms from liberalised market systems found in Western Europe and the United States to develop its domestic wind power sector. Having similar economic, political and cultural value systems is not necessarily a prerequisite to policy learning; rather policy objective compatibility is a more important criterion when drawing and transferring lessons. The objective of this thesis is to analyse how the policy learning from abroad, policy transfer and the post transfer process has influenced the development of wind power policies in China through the application of a framework to analyse the policies. The framework was specifically developed for this thesis and was largely based on policy learning and policy transfer concepts as well as general learning literature. Using the wind power policies in China as a case study, this thesis identifies elements of policy learning from abroad and examines how transferred policies have been applied in first level policies that are top-level coordinating policies (e.g. mid- to long-term strategies and frameworks) as well as second level policies, with specific objectives focusing on diffusion and adoption (e.g. renewable energy policy instruments). Overall, studying policy learning from abroad, policy transfer and the post transfer process contributes to understanding how learning across political boarders contributes to the domestic policy formation and implementation process.

A key challenge confronting modern policymakers is to ensure that economic development is both socially just and environmentally sustainable. Toward that goal, effective government regulations require the accurate quantification of their associated costs and benefits. An extensive theoretical and empirical literature in economics has shown the benefits of government policies in addressing market failures and providing public goods. But few studies have credibly identified the social costs and distributional impacts of existing policies. My dissertation integrates new data and empirical methods from economics and earth sciences to investigate the social impacts of energy infrastructure and environmental policy. Chapter 1 uses the Three Gorges Dam in China as a natural experiment to provide the first evidence of the social and economic impacts of dam-induced inundation on population displacement and labor market reallocation. Chapter 2 examines the political economy implications of wind turbine construction on United States congressional elections. Chapter 3 employs original data from a large-scale survey to study the social benefits of environmental quality improvements. Overall, results from these papers inform future research on the social impacts of energy and environmental policy and highlight the importance of unbiased policy evaluations.

The Caspian region hydrocarbons are important for international energy security. Producer, consumer and transit countries, albeit for different reasons, try to get a share of these new resources. The opening up of the Region has presented Turkey with a new set of opportunities. In this thesis the positions of all the countries involved are examined. Special attention is given to Turkish policies towards the region. In conclusion the geopolitical environment emerged around the hydrocarbon resources and pipelines is evaluated. It will be seen that this environment puts Turkey in a very favorable position and Turkey is now a player in the international energy game despie the fact that it has almost no hydrocarbon resources.