The ongoing change towards completely renewable power production in Sweden entails new challenges in maintaining a stable power system and puts greater demands on the frequency control. Hydropower caters for all frequency control in the Swedish grid today. However, the new challenges make it necessary to explore other technologies that potentially could provide frequency control. The aim of this master thesis is thus to map different technologies that potentially could deliver the reserves FCR and aFRR, with the main focus of investigating the economic potential of these technologies and their competitiveness during different seasons. The technologies investigated were lithium-ion batteries, flywheels, demand response and wind power plants. Different applications for these technologies were also investigated. The different investment alternatives were evaluated by calculating the net present value and the net present value ratio. The results show that the economic potential is greatest in cases where existing infrastructure could be used. Investments in stand-alone energy storage systems are not profitable today but might be so in the future as the prices continue to decrease. The results also show that many of the technologies and applications are competitive alternatives to hydropower during different seasons, which shows that there is potential in participating in the balancing markets with these technologies. However, it seems relevant to investigate further if, and if so how, the regulations on endurance can be adapted to actual conditions to further opening up the markets to more actors while maintaining a stable power system.

The thesis deals with the assessment of the investment project of the construction and operation of biogas plant Kralovická zemědělská, a.s. The emphasis is placed on the evaluation of the investment project by calculating the net present value and on the assessment of an optimal option for drawing subsidy for electricity generation.

Biofuels have been widely recognized as a potential renewable energy source, and the United States’ government has been interested in producing ethanol from lignocellulosic biomass such as switchgrass. To evaluate whether lignocellulosic biomass based biofuels production is economically feasible, this paper estimated the capital investment outlays, operation costs, and net present value for investment in alternative switchgrass feedstock supply chain configurations in East Tennessee a 25 million gallon per year ethanol biorefinery. Two scenarios are analyzed in the study. The conventional hay harvest scenario includes the production, harvest, storage and transportation of biomass feedstocks from the fields to the biorefinery. The preprocessing scenario added preprocessing facilities into the biomass supply chain. According to various harvest, storage, preprocessing, and harvest equipment options, analysis and comparisons were made among different systems. The capital budgeting model developed in this study generated the optimal feedstock supply chain configurations to determine the largest net present value of cash flow from investment. Results of this study shown that with the Biomass Crop Assistance Program (BCAP) incentives, a round bale system using feedstock stored without tarp on pallets using custom hired equipment had the largest positive net present value. By comparison, if all the harvest equipment is purchased rather than custom hired, the stretch wrap baler preprocessing systems, using switchgrass harvested by a chopper with rotary cutter-header, was found to have a cost advantage over conventional hay harvest logistic systems (large round bale and large square bale systems) and pellet preprocessing systems. Assuming most likely values for switchgrass price and production costs, none of the feed stock supply chain configurations evaluated in this study produced a positive net present value when BCAP subsidies were assumed to not be available. However, without the BCAP incentives and based on combination of optimistic assumption, the round bale system using feedstock stored without tarp on pallets using custom hired equipment still has the largest positive net present value. Without the BCAP incentives, no feedstock supply chain configuration using purchased rather than custom hired equipment generated a positive net present value.

The Kingdom of Saudi Arabia has an area of 1.69 million square kilometers. It is the biggest oil producers in the world, and the electricity industry relies heavily on oil. The annually growth request for electricity is around 5%. The price of electricity will be expensive in the next 30 years and there could be a shortage of electricity supply. It is better to use alternative forms of energy to prolong the life of the oil industry in Saudi Arabia. To reduce dependence on oil, the Kingdom of Saudi Arabia is considering using alternative sources of energy including solar energy and energy wind. Since the wind speed is around 10m/s and in the summer it is full of sunshine; therefore, the renewable energy should play a more important role in future electric power supply of the Kingdom of Saudi Arabia. A hybrid system is proposed in this thesis to study the possible power supply system in the remote areas. Wind information in Dhahran is used in simulations in order to make sure that the system is reliable and appropriate to be used in the remote areas of the country. Economic analysis is also conducted to compare the cost of the hybrid system with that of a 200 km transmission line connected from existing service area.

America's reliance on foreign oil has raised economic and national security issues, and in turn the U.S. has been active in reducing its dependence on foreign oil to mitigate these issues. Also, the U.S. Navy has been instrumental in driving bio-fuel research and production by setting an ambitious goal to purchase 336M gallons of bio-fuel by 2020. The production of microalgae biomass is a promising field which may be able to meet these demands. The utilization of microalgae for the production of bio-fuel requires the implementation of efficient culturing processes to maximize production and reduce costs. Therefore, three discrete rate event simulation models were developed to analyze different scaling scenarios and determine total costs associated with each scenario. Three scaling scenarios were identified by this analysis and included a stepwise, volume batching and intense culturing process. A base case and potential best case were considered in which the culturing duration, lipid content and lipid induction period were adjusted. A what-if analysis was conducted which identified and reduced capital and operational costs contributing greatly to total costs. An NPV analysis was performed for each scenario to identify the risk associated with future cash flows. The research findings indicate that the intense culturing scaling scenario yielded the greatest model throughput and least total cost for both the base case and potential best case. However, this increased productivity and cost reduction were not significantly greater than the productivity generated by the stepwise scaling scenario, suggesting that the implementation of flat plate bio-reactors in the intense culturing process may be non-advantageous given the increased operational costs of these devices. The volume batching scenario yielded the greatest total cost L^-1 of microalgae bio-oil for both, indicating an inefficient process. The scaling scenarios of the base case and potential best case yielded negative NPV's while the stepwise and intense culturing scenarios of the what-if analysis generated positive NPV's. The base case is based on current technological advances, biological limitations and costs of microalgae production therefore, a negative NPV suggests that utilizing microalgae for bio-fuel production is not an economically feasible project at this time.

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This study was done against the backdrop that executives should carefully consider all the options to manage difficult periods before letting employees go, especially if they are going to rehire employees shortly after the economic recovery. Therefore, the study investigated whether investing in operational development of a plant can be used to increase feasibility, rather than to make across–the–board labour cuts. Two South African mining companies were chosen for this study. They are two investment centres at AngloGold Ashanti, Mine X Ltd. and Mine Z Ltd. The investigating project was done at Mine X to extract gold from the neighbouring Mine Z. Mine X will have access to the minerals 40 years in advance of Mine Z due to insufficient essential infrastructure at Mine Z. The life–time of the project is 18 years (estimated). The main objective of this study is to investigate the feasibility, from Mine X’s point of view, with a deepening project including Mine Z. The most significant aspect will be to determine which investment timeframe decision will gain Mine X a feasible position in terms of economic growth. This will be achieved by the following secondary objectives in making a capital investment decision: 1. To describe the nature and significance of investment decision making. 2. To recognise appropriate capital investment evaluation techniques in conjunction with sensitivity analysis. 3. To apply the techniques and sensitivity analysis in order to make a decision of a possible, feasible investment opportunity at Mine X. 4. To develop a framework to identify the project’s components and associate and access difficulties for Mine X‘s project lifecycle. The feasibility study undertakes multiple scenarios and provides recommendations and a final report, based on the scenario that is the most viable. The following techniques which were identified were used to analyse the feasibility of the project: Net present value, internal rate of return and payback period. All these above techniques will be analysed in three different scenarios, namely: 1. Mine X will stay with its current operations without any new projects. 2. The development project will begin immediately. 3. A six–month delay in development of the project. The study found that the net present value was positive, the internal rate of return was more than the discount rate and the payback period was shorter than the project’s life–time regarding to all three above–mentioned scenarios. The highest net present value is calculated in case the project starts immediately. Both the internal rate of return and the payback period indicated that a six month delay in the project is the most viable. After considering all the facts, the study concluded due to the highest net present value the best feasible recommendation would be to start the project immediately. The value of this study is that it is the first study to investigate the relationship between the viability to delay or to start the investment project immediately in the South African mining industry. This study is also unique, since it takes into account how mining industries world–wide can achieve long–term success through development projects without losing key players, due to impulsive short–term downsizing decisions. / Thesis (M.Com. (Management Accountancy))--North-West University, Potchefstroom Campus, 2012.

This study was done against the backdrop that executives should carefully consider all the options to manage difficult periods before letting employees go, especially if they are going to rehire employees shortly after the economic recovery. Therefore, the study investigated whether investing in operational development of a plant can be used to increase feasibility, rather than to make across–the–board labour cuts. Two South African mining companies were chosen for this study. They are two investment centres at AngloGold Ashanti, Mine X Ltd. and Mine Z Ltd. The investigating project was done at Mine X to extract gold from the neighbouring Mine Z. Mine X will have access to the minerals 40 years in advance of Mine Z due to insufficient essential infrastructure at Mine Z. The life–time of the project is 18 years (estimated). The main objective of this study is to investigate the feasibility, from Mine X’s point of view, with a deepening project including Mine Z. The most significant aspect will be to determine which investment timeframe decision will gain Mine X a feasible position in terms of economic growth. This will be achieved by the following secondary objectives in making a capital investment decision: 1. To describe the nature and significance of investment decision making. 2. To recognise appropriate capital investment evaluation techniques in conjunction with sensitivity analysis. 3. To apply the techniques and sensitivity analysis in order to make a decision of a possible, feasible investment opportunity at Mine X. 4. To develop a framework to identify the project’s components and associate and access difficulties for Mine X‘s project lifecycle. The feasibility study undertakes multiple scenarios and provides recommendations and a final report, based on the scenario that is the most viable. The following techniques which were identified were used to analyse the feasibility of the project: Net present value, internal rate of return and payback period. All these above techniques will be analysed in three different scenarios, namely: 1. Mine X will stay with its current operations without any new projects. 2. The development project will begin immediately. 3. A six–month delay in development of the project. The study found that the net present value was positive, the internal rate of return was more than the discount rate and the payback period was shorter than the project’s life–time regarding to all three above–mentioned scenarios. The highest net present value is calculated in case the project starts immediately. Both the internal rate of return and the payback period indicated that a six month delay in the project is the most viable. After considering all the facts, the study concluded due to the highest net present value the best feasible recommendation would be to start the project immediately. The value of this study is that it is the first study to investigate the relationship between the viability to delay or to start the investment project immediately in the South African mining industry. This study is also unique, since it takes into account how mining industries world–wide can achieve long–term success through development projects without losing key players, due to impulsive short–term downsizing decisions. / Thesis (M.Com. (Management Accountancy))--North-West University, Potchefstroom Campus, 2012.

Organic solar cells (OSCs) are of interest because the technology offers a significant opportunity to reduce the overall costs of solar energy. OSCs can be very inexpensive to produce given that they rely on non-commodity materials and can use existing manufacturing techniques that are not labour- and capital-intensive. In this research, a financial model, named TEEOS (Technological and Economic Evaluator for Organic Solar), is developed and is used to determine financial indicators, such as simple payback period. These indicators are used to determine technical objectives for the OSCs. Two sample cells are evaluated in Toronto, Canada using historical data. The results show that the cell with a higher efficiency and wider absorptive wavelength range produces a payback period of approximately nine years, while the other cell has a payback period well over 45 years. Stochastic modeling techniques are also used to better replicate electricity price and weather fluctuations.

Organic solar cells (OSCs) are of interest because the technology offers a significant opportunity to reduce the overall costs of solar energy. OSCs can be very inexpensive to produce given that they rely on non-commodity materials and can use existing manufacturing techniques that are not labour- and capital-intensive. In this research, a financial model, named TEEOS (Technological and Economic Evaluator for Organic Solar), is developed and is used to determine financial indicators, such as simple payback period. These indicators are used to determine technical objectives for the OSCs. Two sample cells are evaluated in Toronto, Canada using historical data. The results show that the cell with a higher efficiency and wider absorptive wavelength range produces a payback period of approximately nine years, while the other cell has a payback period well over 45 years. Stochastic modeling techniques are also used to better replicate electricity price and weather fluctuations.