It is well established within both the economics and power system engineering literature that hydro power can act as a complement to large amounts of intermittent energy. In particular hydro power can act as a "battery" where large amounts of wind power are installed. In this paper I use simple...

System reliability is a key aspect of electricity supply, and the ability to maintain system reliability this is an important aspect of a liberalised electricity market. But system reliability can be ensured only if there is sufficient operating reserve capacity at all times. In a liberalised...

The most common reason for scrapping a wind turbine in Denmark is to make room for a newer turbine. The decision to scrap a wind turbine is then highly dependent on an opportunity cost that comes from the interaction of scarce land resources, technological change and changes in subsidy policy....

In this paper we develop an optimization model to derive static hedge positions for hydropower producers with different risk characteristics. Previous research has primarily considered dynamic hedging; however, static hedging is the common choice among hydropower producers because of its...

Heat pumps have rapidly gained popularity in the Nordic area, as they are marketed to provide considerable monetary savings and CO2 emission reductions. Heat pumps are installed even in buildings heated by CHP (combined heat and power production). In this paper we calculate CO2 emission factors...

With contributions by David Campbell, Chris Carter, Barry Gamble, John Hibbs, Bob Lee, John Meadowcroft, Julian Morris, Richard D. North, Sean Rickard, Aileen Stockdale amp; Paul Withrington.The book charts the development of the new rural economy and considers whether government policy has kept...

The real option valuation method is often presented as an alternative to the conventional discounted cash flow (DCF) approach because it is able to recognize additional project value due to the presence of management flexibility. However, these two valuation methods can be separated on a more...

Analysis of a unique data set of 1,400 U.S. crop producers using a mixture-modeling framework shows that the likelihood of Marketing Advisory Services (MAS) use is, among others, driven by the perceived performance of MAS in terms of regarding return and risk reduction, the match between the MAS...

This book addresses two questions. First, what progress did the United States make toward sustainable development between the 1992 (the date of the U.N. Conference on Environment and Development, or Earth Summit) and 2002? Second, what should the United States do next, particularly in the next 5...