Modeling And Valuation Of Energy Structures

Commodity markets present several challenges for quantitative modeling. These include high volatilities, small sample data sets, and physical, operational complexity. In addition, the set of traded products in commodity markets is more limited than in financial or equity markets, making value extraction through trading more difficult. These facts make it very easy for modeling efforts to run into serious problems, as many models are very sensitive to noise and hence can easily fail in practice. Modeling and Valuation of Energy Structures is a comprehensive guide to quantitative and statistical approaches that have been successfully employed in support of trading operations, reflecting the author's 17 years of experience as a front-office 'quant'. The major theme of the book is that simpler is usually better, a message that is drawn out through the reality of incomplete markets, small samples, and informational constraints. The necessary mathematical tools for understanding these issues are thoroughly developed, with many techniques (analytical, econometric, and numerical) collected in a single volume for the first time. A particular emphasis is placed on the central role that the underlying market resolution plays in valuation. Examples are provided to illustrate that robust, approximate valuations are to be preferred to overly ambitious attempts at detailed qualitative modeling.

Building energy design is currently going through a period of major changes. One key factor of this is the adoption of net-zero energy as a long term goal for new buildings in most developed countries. To achieve this goal a lot of research is needed to accumulate knowledge and to utilize it in practical applications. In this book, accomplished international experts present advanced modeling techniques as well as in-depth case studies in order to aid designers in optimally using simulation tools for net-zero energy building design. The strategies and technologies discussed in this book are, however, also applicable for the design of energy-plus buildings. This book was facilitated by International Energy Agency's Solar Heating and Cooling (SHC) Programs and the Energy in Buildings and Communities (EBC) Programs through the joint SHC Task 40/EBC Annex 52: Towards Net Zero Energy Solar Buildings R&D collaboration. After presenting the fundamental concepts, design strategies, and technologies required to achieve net-zero energy in buildings, the book discusses different design processes and tools to support the design of net-zero energy buildings (NZEBs). A substantial chapter reports on four diverse NZEBs that have been operating for at least two years. These case studies are extremely high quality because they all have high resolution measured data and the authors were intimately involved in all of them from conception to operating. By comparing the projections made using the respective design tools with the actual performance data, successful (and unsuccessful) design techniques and processes, design and simulation tools, and technologies are identified. Written by both academics and practitioners (building designers) and by North Americans as well as Europeans, this book provides a very broad perspective. It includes a detailed description of design processes and a list of appropriate tools for each design phase, plus methods for parametric analysis and mathematical optimization. It is a guideline for building designers that draws from both the profound theoretical background and the vast practical experience of the authors.

This book surveys the mechanics of energy markets and the valuation of structures commonly arising in practice. The presentation balances quantitative issues and practicalities facing portfolio managers, with substantial attention paid to the ways in which common methods fail in practice and to alternative methods when they exist. The book will provide readers with the analytical foundation required to function in modern energy trading and risk management groups.

Climate change mitigation and sustainable practices are now at the top of political and technical agendas. Environmental system modelling provides a way of appraising options and this book will make a significant contribution to the uptake of such systems. It provides knowledge of the principles involved in modelling systems, builds confidence amongst designers and offers a broad perspective of the potential of these new technologies. The aim of the book is to provide an understanding of the concepts and principles behind predictive modelling methods; review progress in the development of the modelling software available; and explore modelling in building design through international case studies based on real design problems.

The aim of this book is to review innovative physical multiscale modeling methods which numerically simulate the structure and properties of electrochemical devices for energy storage and conversion. Written by world-class experts in the field, it revisits concepts, methodologies and approaches connecting ab initio with micro-, meso- and macro-scale modeling of components and cells. It also discusses the major scientific challenges of this field, such as that of lithium-ion batteries. This book demonstrates how fuel cells and batteries can be brought together to take advantage of well-established multi-scale physical modeling methodologies to advance research in this area. This book also highlights promising capabilities of such approaches for inexpensive virtual experimentation. In recent years, electrochemical systems such as polymer electrolyte membrane fuel cells, solid oxide fuel cells, water electrolyzers, lithium-ion batteries and supercapacitors have attracted much attention due to their potential for clean energy conversion and as storage devices. This has resulted in tremendous technological progress, such as the development of new electrolytes and new engineering designs of electrode structures. However, these technologies do not yet possess all the necessary characteristics, especially in terms of cost and durability, to compete within the most attractive markets. Physical multiscale modeling approaches bridge the gap between materials’ atomistic and structural properties and the macroscopic behavior of a device. They play a crucial role in optimizing the materials and operation in real-life conditions, thereby enabling enhanced cell performance and durability at a reduced cost. This book provides a valuable resource for researchers, engineers and students interested in physical modelling, numerical simulation, electrochemistry and theoretical chemistry.

This book constitutes a selection of the best papers from the 15th International Conference on Business Excellence, Digital Economy and New Value Creation, ICBE 2021, held in Bucharest, Romania, in March 2021. This book is a collection of research findings and perspectives related to the digital economy and new value creation, led by the set of improvements and changes in the economic, societal and technological structures and processes towards the effort of reaching the sustainability goals.

Praise for Energy and Power Risk Management "Energy and Power Risk Management identifies and addresses the key issues in the development of the turbulent energy industry and the challenges it poses to market players. An insightful and far-reaching book written by two renowned professionals." -Helyette Geman, Professor of Finance University Paris Dauphine and ESSEC "The most up-to-date and comprehensive book on managing energy price risk in the natural gas and power markets. An absolute imperative for energy traders and energy risk management professionals." -Vincent Kaminski, Managing Director Citadel Investment Group LLC "Eydeland and Wolyniec's work does an excellent job of outlining the methods needed to measure and manage risk in the volatile energy market." -Gerald G. Fleming, Vice President, Head of East Power Trading, TXU Energy Trading "This book combines academic rigor with real-world practicality. It is a must-read for anyone in energy risk management or asset valuation." -Ron Erd, Senior Vice President American Electric Power

What is project finance? What makes project or structured finance so relevant for large renewable energy infrastructure? Which vocabulary do I need to know in order to speak the same language during meetings with lawyers, investors, bankers and engineers? These questions and many more are answered throughout this book, offering real world examples to bridge the gap between theory and practice. The book details the role of each stakeholder in the development of renewable energy projects, the interconnection between all the agreements, the financial process from fundraising to financial close, the processes of due diligence, risk analysis, project investment valuation and much more. It also provides with an introduction to Portfolio Management using renewable energy assets and an explanation of the role of Climate Finance in green energy investments. The commented glossary enables readers to unpick the jargon used in project finance for renewable energy, and the numerous creative figures and comprehensive tables aid with understanding. Offering a complete picture of the discipline, Introduction to Project Finance in Renewable Energy Infrastructure will be of value to professionals, engineers and academics alike interested in understanding the process and components of project finance in renewable energy infrastructures, in both private and public-private contexts.