IDEAS home Printed from https://ideas.repec.org/a/eee/energy/v239y2022ipds0360544221025937.html
   My bibliography  Save this article

A novel approach to investigate the effects of global warming and exchange rate on the solar power plants

Author

Listed:
  • Gürtürk, Mert
  • Ucar, Ferhat
  • Erdem, Murat

Abstract

The present study proposes novel approaches to concepts such as risk assessment and investment management in investments in solar power plants. In this context, 11 cities in Turkey have been taken into consideration for solar energy investment. Global warming is also one of the current issues on the World's agenda. The monthly impact of global warming has been investigated for 5 years using a deep learning model, and the effects of global warming on cost have been determined within the scope of this study. Concerning the outputs of the designed deep learning-based temperature-forecasting model, it was observed that the gain values might decrease between 5.98% and 3.74% due to the possible global warming effects in 2025–2030. Also, changes in the US$/TL ratio put solar energy investors in a difficult position. The Turkish government issued a Presidential Decree numbered 3453 on January 30, 2021, to offer a solution to this situation. The profit-loss situation of solar energy investments was investigated with the issued support policy and fixed price-purchasing policy. It has been observed that the fixed price policy is not sustainable and the new support system partially protects the solar energy investor.

Suggested Citation

  • Gürtürk, Mert & Ucar, Ferhat & Erdem, Murat, 2022. "A novel approach to investigate the effects of global warming and exchange rate on the solar power plants," Energy, Elsevier, vol. 239(PD).
    • Handle: RePEc:eee:energy:v:239:y:2022:i:pd:s0360544221025937
    DOI: 10.1016/j.energy.2021.122344
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0360544221025937
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.energy.2021.122344?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Shabbir, Noman & Usman, Muhammad & Jawad, Muhammad & Zafar, Muhammad H. & Iqbal, Muhammad N. & Kütt, Lauri, 2020. "Economic analysis and impact on national grid by domestic photovoltaic system installations in Pakistan," Renewable Energy, Elsevier, vol. 153(C), pages 509-521.
    2. Voyant, Cyril & Notton, Gilles & Kalogirou, Soteris & Nivet, Marie-Laure & Paoli, Christophe & Motte, Fabrice & Fouilloy, Alexis, 2017. "Machine learning methods for solar radiation forecasting: A review," Renewable Energy, Elsevier, vol. 105(C), pages 569-582.
    3. Rashwan, Sherif S. & Shaaban, Ahmed M. & Al-Suliman, Fahad, 2017. "A comparative study of a small-scale solar PV power plant in Saudi Arabia," Renewable and Sustainable Energy Reviews, Elsevier, vol. 80(C), pages 313-318.
    4. Talavera, D.L. & Pérez-Higueras, P. & Almonacid, F. & Fernández, E.F., 2017. "A worldwide assessment of economic feasibility of HCPV power plants: Profitability and competitiveness," Energy, Elsevier, vol. 119(C), pages 408-424.
    5. Markus Reichstein & Gustau Camps-Valls & Bjorn Stevens & Martin Jung & Joachim Denzler & Nuno Carvalhais & Prabhat, 2019. "Deep learning and process understanding for data-driven Earth system science," Nature, Nature, vol. 566(7743), pages 195-204, February.
    6. Seleshi G. Yalew & Michelle T. H. van Vliet & David E. H. J. Gernaat & Fulco Ludwig & Ariel Miara & Chan Park & Edward Byers & Enrica De Cian & Franziska Piontek & Gokul Iyer & Ioanna Mouratiadou & Ja, 2020. "Impacts of climate change on energy systems in global and regional scenarios," Nature Energy, Nature, vol. 5(10), pages 794-802, October.
    7. Akarslan, Emre & Hocaoglu, Fatih Onur, 2016. "A novel adaptive approach for hourly solar radiation forecasting," Renewable Energy, Elsevier, vol. 87(P1), pages 628-633.
    8. Mei, H. & Li, Y.P. & Suo, C. & Ma, Y. & Lv, J., 2020. "Analyzing the impact of climate change on energy-economy-carbon nexus system in China," Applied Energy, Elsevier, vol. 262(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Gürtürk, Mert, 2019. "Economic feasibility of solar power plants based on PV module with levelized cost analysis," Energy, Elsevier, vol. 171(C), pages 866-878.
    2. Kanwal, S. & Khan, B. & Ali, S.M. & Mehmood, C.A., 2018. "Gaussian process regression based inertia emulation and reserve estimation for grid interfaced photovoltaic system," Renewable Energy, Elsevier, vol. 126(C), pages 865-875.
    3. Gebara, C.H. & Laurent, A., 2023. "National SDG-7 performance assessment to support achieving sustainable energy for all within planetary limits," Renewable and Sustainable Energy Reviews, Elsevier, vol. 173(C).
    4. Cheng, Qian & Liu, Pan & Xia, Qian & Cheng, Lei & Ming, Bo & Zhang, Wei & Xu, Weifeng & Zheng, Yalian & Han, Dongyang & Xia, Jun, 2023. "An analytical method to evaluate curtailment of hydro–photovoltaic hybrid energy systems and its implication under climate change," Energy, Elsevier, vol. 278(C).
    5. Makasis, Nikolas & Gu, Xiaoying & Kreitmair, Monika J. & Narsilio, Guillermo A. & Choudhary, Ruchi, 2023. "Geothermal pavements: A city-scale investigation on providing sustainable heating for the city of Cardiff, UK," Renewable Energy, Elsevier, vol. 218(C).
    6. Zhang, Yi & Cheng, Chuntian & Yang, Tiantian & Jin, Xiaoyu & Jia, Zebin & Shen, Jianjian & Wu, Xinyu, 2022. "Assessment of climate change impacts on the hydro-wind-solar energy supply system," Renewable and Sustainable Energy Reviews, Elsevier, vol. 162(C).
    7. Lan, Xinyao & Jin, Jiahui & Xu, Beibei & Chen, Diyi & Egusquiza, Mònica & Kim, Jin-Hyuk & Egusquiza, Eduard & Jafar, Nejadali & Xu, Lin & Kuang, Yuan, 2022. "Physical model test and parametric optimization of a hydroelectric generating system with a coaxial shaft surge tank," Renewable Energy, Elsevier, vol. 200(C), pages 880-899.
    8. Chong, Cheng Tung & Fan, Yee Van & Lee, Chew Tin & Klemeš, Jiří Jaromír, 2022. "Post COVID-19 ENERGY sustainability and carbon emissions neutrality," Energy, Elsevier, vol. 241(C).
    9. Oyewo, Ayobami S. & Aghahosseini, Arman & Movsessian, Maria M. & Breyer, Christian, 2024. "A novel geothermal-PV led energy system analysis on the case of the central American countries Guatemala, Honduras, and Costa Rica," Renewable Energy, Elsevier, vol. 221(C).
    10. Perera, A.T.D. & Khayatian, F. & Eggimann, S. & Orehounig, K. & Halgamuge, Saman, 2022. "Quantifying the climate and human-system-driven uncertainties in energy planning by using GANs," Applied Energy, Elsevier, vol. 328(C).
    11. Boyce, Scott & He, Fangliang, 2022. "Political governance, socioeconomics, and weather influence provincial GHG emissions in Canada," Energy Policy, Elsevier, vol. 168(C).
    12. Abel, Dennis & Lieth, Jonas & Jünger, Stefan, 2024. "Mapping the spatial turn in social science energy research. A computational literature review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 201(C).
    13. Pezalla, Simon & Obringer, Renee, 2023. "Evaluating the household-level climate-electricity nexus across three cities through statistical learning techniques," Socio-Economic Planning Sciences, Elsevier, vol. 89(C).
    14. Qin, Jun & Jiang, Hou & Lu, Ning & Yao, Ling & Zhou, Chenghu, 2022. "Enhancing solar PV output forecast by integrating ground and satellite observations with deep learning," Renewable and Sustainable Energy Reviews, Elsevier, vol. 167(C).
    15. Fortes, Patrícia & Simoes, Sofia G. & Amorim, Filipa & Siggini, Gildas & Sessa, Valentina & Saint-Drenan, Yves-Marie & Carvalho, Sílvia & Mujtaba, Babar & Diogo, Paulo & Assoumou, Edi, 2022. "How sensitive is a carbon-neutral power sector to climate change? The interplay between hydro, solar and wind for Portugal," Energy, Elsevier, vol. 239(PB).
    16. Sourav Malakar & Saptarsi Goswami & Bhaswati Ganguli & Amlan Chakrabarti & Sugata Sen Roy & K. Boopathi & A. G. Rangaraj, 2022. "Deep-Learning-Based Adaptive Model for Solar Forecasting Using Clustering," Energies, MDPI, vol. 15(10), pages 1-16, May.
    17. Ahmad, Ali & Covatariu, Andrei & Ramana, M.V., 2023. "A stormy future? Financial impact of climate change-related disruptions on nuclear power plant owners," Utilities Policy, Elsevier, vol. 81(C).
    18. Chen, Qi & Li, Xinyuan & Zhang, Zhengjia & Zhou, Chao & Guo, Zhiling & Liu, Zhengguang & Zhang, Haoran, 2023. "Remote sensing of photovoltaic scenarios: Techniques, applications and future directions," Applied Energy, Elsevier, vol. 333(C).
    19. Cheng, Qian & Liu, Pan & Xia, Jun & Ming, Bo & Cheng, Lei & Chen, Jie & Xie, Kang & Liu, Zheyuan & Li, Xiao, 2022. "Contribution of complementary operation in adapting to climate change impacts on a large-scale wind–solar–hydro system: A case study in the Yalong River Basin, China," Applied Energy, Elsevier, vol. 325(C).
    20. Klimenko, V.V. & Krasheninnikov, S.M. & Fedotova, E.V., 2022. "CHP performance under the warming climate: a case study for Russia," Energy, Elsevier, vol. 244(PB).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:energy:v:239:y:2022:i:pd:s0360544221025937. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/energy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.