Evaluation of the Economic Profitability of Using Renewable Energy Sources in Agro-Industrial Companies
The study of the impact of the availability of renewable energy sources (RES) on the competitiveness and cost reduction opportunities is an actual objective for agro-industrial enterprises in the present time. The purpose of this paper was to develop a methodological approach based on a questionnair...
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| Format: | Article |
| Language: | English |
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Diponegoro University
2021-11-01
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| Series: | International Journal of Renewable Energy Development |
| Subjects: | |
| Online Access: | https://ijred.cbiore.id/index.php/ijred/article/view/37908 |
| _version_ | 1797449811023101952 |
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| author | Denis Syromyatnikov Varvara Druzyanova Aleksandr Beloglazov Alexander Bakshtanin Tatiana Matveeva |
| author_facet | Denis Syromyatnikov Varvara Druzyanova Aleksandr Beloglazov Alexander Bakshtanin Tatiana Matveeva |
| author_sort | Denis Syromyatnikov |
| collection | DOAJ |
| description | The study of the impact of the availability of renewable energy sources (RES) on the competitiveness and cost reduction opportunities is an actual objective for agro-industrial enterprises in the present time. The purpose of this paper was to develop a methodological approach based on a questionnaire survey, an integrated indicator of enterprise competitiveness, a model for assessing energy conservation costs, and regression analysis combined with a hierarchical synthesis of 20 Russian agro-industrial companies. The solution of the problem of nonlinear optimization of agro-industrial companies made it possible to determine the excess of the competitiveness criterion over the criterion of energy conservation cost reduction as a result of the use of RES. The conducted regression analysis showed a close relationship between the competitiveness of the companies under study and the availability of RES. Modeling and hierarchical synthesis of the study results confirmed that the use of RES in the activities of agro-industrial companies stimulates their competitive potential reflected by the competitiveness index and minimizes energy conservation costs. It was also found that there is an inverse regression relationship with a high degree of correlation between the provision of RES and the cost of energy-saving measures. Hence, it can be argued that a greater emphasis on the provision of Russian agro-industrial enterprises with RES can lead to their more sustainable and efficient development due to increased competitiveness and better cost reduction strategies. |
| first_indexed | 2024-03-09T14:30:24Z |
| format | Article |
| id | doaj.art-20ecd394c0db4fc48177d0a2e315ac8c |
| institution | Directory Open Access Journal |
| issn | 2252-4940 |
| language | English |
| last_indexed | 2024-03-09T14:30:24Z |
| publishDate | 2021-11-01 |
| publisher | Diponegoro University |
| record_format | Article |
| series | International Journal of Renewable Energy Development |
| spelling | doaj.art-20ecd394c0db4fc48177d0a2e315ac8c2023-11-28T02:08:36ZengDiponegoro UniversityInternational Journal of Renewable Energy Development2252-49402021-11-0110482783710.14710/ijred.2021.3790818829Evaluation of the Economic Profitability of Using Renewable Energy Sources in Agro-Industrial CompaniesDenis Syromyatnikov0Varvara Druzyanova1Aleksandr Beloglazov2Alexander Bakshtanin3Tatiana Matveeva4Department of Economy and Foreign Economic Activity, North-Caucasus Federal University, Stavropol, Russian FederationDepartment of Operation of Road Transport and Car Service, Federal State Autonomous Institution of Higher Education North-Eastern Federal University named after MK Ammosov, Yakutsk, Russian FederationDepartment of Power Engineering, Khanty-Mansiysk Branch of PJSC RussNeft, Khanty-Mansiysk, Russian FederationDepartment of Integrated Water Management and Hydraulics, Russian State Agrarian University-Moscow Timiryazev Agricultural Academy, Moscow, Russian FederationDepartment of Integrated Water Management and Hydraulics, Russian State Agrarian University-Moscow Timiryazev Agricultural Academy, Moscow, Russian FederationThe study of the impact of the availability of renewable energy sources (RES) on the competitiveness and cost reduction opportunities is an actual objective for agro-industrial enterprises in the present time. The purpose of this paper was to develop a methodological approach based on a questionnaire survey, an integrated indicator of enterprise competitiveness, a model for assessing energy conservation costs, and regression analysis combined with a hierarchical synthesis of 20 Russian agro-industrial companies. The solution of the problem of nonlinear optimization of agro-industrial companies made it possible to determine the excess of the competitiveness criterion over the criterion of energy conservation cost reduction as a result of the use of RES. The conducted regression analysis showed a close relationship between the competitiveness of the companies under study and the availability of RES. Modeling and hierarchical synthesis of the study results confirmed that the use of RES in the activities of agro-industrial companies stimulates their competitive potential reflected by the competitiveness index and minimizes energy conservation costs. It was also found that there is an inverse regression relationship with a high degree of correlation between the provision of RES and the cost of energy-saving measures. Hence, it can be argued that a greater emphasis on the provision of Russian agro-industrial enterprises with RES can lead to their more sustainable and efficient development due to increased competitiveness and better cost reduction strategies.https://ijred.cbiore.id/index.php/ijred/article/view/37908competitivenesscorrelationhierarchical synthesismodelrenewable sourcesscenario |
| spellingShingle | Denis Syromyatnikov Varvara Druzyanova Aleksandr Beloglazov Alexander Bakshtanin Tatiana Matveeva Evaluation of the Economic Profitability of Using Renewable Energy Sources in Agro-Industrial Companies International Journal of Renewable Energy Development competitiveness correlation hierarchical synthesis model renewable sources scenario |
| title | Evaluation of the Economic Profitability of Using Renewable Energy Sources in Agro-Industrial Companies |
| title_full | Evaluation of the Economic Profitability of Using Renewable Energy Sources in Agro-Industrial Companies |
| title_fullStr | Evaluation of the Economic Profitability of Using Renewable Energy Sources in Agro-Industrial Companies |
| title_full_unstemmed | Evaluation of the Economic Profitability of Using Renewable Energy Sources in Agro-Industrial Companies |
| title_short | Evaluation of the Economic Profitability of Using Renewable Energy Sources in Agro-Industrial Companies |
| title_sort | evaluation of the economic profitability of using renewable energy sources in agro industrial companies |
| topic | competitiveness correlation hierarchical synthesis model renewable sources scenario |
| url | https://ijred.cbiore.id/index.php/ijred/article/view/37908 |
| work_keys_str_mv | AT denissyromyatnikov evaluationoftheeconomicprofitabilityofusingrenewableenergysourcesinagroindustrialcompanies AT varvaradruzyanova evaluationoftheeconomicprofitabilityofusingrenewableenergysourcesinagroindustrialcompanies AT aleksandrbeloglazov evaluationoftheeconomicprofitabilityofusingrenewableenergysourcesinagroindustrialcompanies AT alexanderbakshtanin evaluationoftheeconomicprofitabilityofusingrenewableenergysourcesinagroindustrialcompanies AT tatianamatveeva evaluationoftheeconomicprofitabilityofusingrenewableenergysourcesinagroindustrialcompanies |