The Impact of Capital Subsidy Incentive on Renewable Energy Deployment in Long-Term Power Generation Expansion Planning
Capital investment cost is the major obstacle to the increasing share of electricity from renewable energy sources (RES-E). Therefore, RES-E incentive mechanisms are incorporated into markets to compensate cost-related barriers and to increase RES-E deployment rate. In this study, the impact of dire...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Sakarya University
2018-12-01
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| Series: | Sakarya University Journal of Computer and Information Sciences |
| Subjects: | |
| Online Access: | https://dergipark.org.tr/tr/download/article-file/600130 |
| _version_ | 1797351809162936320 |
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| author | Mehmet Yıldırım Mustafa Özcan |
| author_facet | Mehmet Yıldırım Mustafa Özcan |
| author_sort | Mehmet Yıldırım |
| collection | DOAJ |
| description | Capital investment cost is the major obstacle to
the increasing share of electricity from renewable energy sources (RES-E). Therefore,
RES-E incentive mechanisms are incorporated into markets to compensate
cost-related barriers and to increase RES-E deployment rate. In this
study, the impact
of direct capital investment subsidy on RES-E in generation expansion planning (GEP)
has been analyzed and deployment rates of renewable power plants have been defined.
The effect of current
subsidy mechanisms on the installed power capacity of various sources has also
been analyzed and policy recommendations have been put forth in the light of
the characteristics of Turkey’s current subsidization mechanism and its outcomes.
Genetic algorithm was applied
to solve the GEP problem. The share of non-hydro renewable power plants for future
additions in overall installed
power was determined as 9.45% without the proposed incentive, while it was estimated
to rise to 13.65% when it was promoted by direct capital investment subsidy of
50%. The deployment rates of renewable power plants are expected to grow as the
imported coal share in total installed power is expected to decline after
applying the proposed subsidy. |
| first_indexed | 2024-03-08T13:06:53Z |
| format | Article |
| id | doaj.art-125b4917b4704334b802021e3f2fc60a |
| institution | Directory Open Access Journal |
| issn | 2636-8129 |
| language | English |
| last_indexed | 2024-03-08T13:06:53Z |
| publishDate | 2018-12-01 |
| publisher | Sakarya University |
| record_format | Article |
| series | Sakarya University Journal of Computer and Information Sciences |
| spelling | doaj.art-125b4917b4704334b802021e3f2fc60a2024-01-18T16:44:35ZengSakarya UniversitySakarya University Journal of Computer and Information Sciences2636-81292018-12-011311910.35377/saucis.01.03.46838028The Impact of Capital Subsidy Incentive on Renewable Energy Deployment in Long-Term Power Generation Expansion PlanningMehmet Yıldırım0Mustafa Özcan1Kocaeli University, Technology Faculty, Information Systems Engineering DepartmentŞişli Technical School, Electricity and Electronics DepartmentCapital investment cost is the major obstacle to the increasing share of electricity from renewable energy sources (RES-E). Therefore, RES-E incentive mechanisms are incorporated into markets to compensate cost-related barriers and to increase RES-E deployment rate. In this study, the impact of direct capital investment subsidy on RES-E in generation expansion planning (GEP) has been analyzed and deployment rates of renewable power plants have been defined. The effect of current subsidy mechanisms on the installed power capacity of various sources has also been analyzed and policy recommendations have been put forth in the light of the characteristics of Turkey’s current subsidization mechanism and its outcomes. Genetic algorithm was applied to solve the GEP problem. The share of non-hydro renewable power plants for future additions in overall installed power was determined as 9.45% without the proposed incentive, while it was estimated to rise to 13.65% when it was promoted by direct capital investment subsidy of 50%. The deployment rates of renewable power plants are expected to grow as the imported coal share in total installed power is expected to decline after applying the proposed subsidy.https://dergipark.org.tr/tr/download/article-file/600130renewable energygeneration expansion planningincentivescapital subsidygenetic algorithm |
| spellingShingle | Mehmet Yıldırım Mustafa Özcan The Impact of Capital Subsidy Incentive on Renewable Energy Deployment in Long-Term Power Generation Expansion Planning Sakarya University Journal of Computer and Information Sciences renewable energy generation expansion planning incentives capital subsidy genetic algorithm |
| title | The Impact of Capital Subsidy Incentive on Renewable Energy Deployment in Long-Term Power Generation Expansion Planning |
| title_full | The Impact of Capital Subsidy Incentive on Renewable Energy Deployment in Long-Term Power Generation Expansion Planning |
| title_fullStr | The Impact of Capital Subsidy Incentive on Renewable Energy Deployment in Long-Term Power Generation Expansion Planning |
| title_full_unstemmed | The Impact of Capital Subsidy Incentive on Renewable Energy Deployment in Long-Term Power Generation Expansion Planning |
| title_short | The Impact of Capital Subsidy Incentive on Renewable Energy Deployment in Long-Term Power Generation Expansion Planning |
| title_sort | impact of capital subsidy incentive on renewable energy deployment in long term power generation expansion planning |
| topic | renewable energy generation expansion planning incentives capital subsidy genetic algorithm |
| url | https://dergipark.org.tr/tr/download/article-file/600130 |
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