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SUSTAINABLE ENERGY
SOLUTIONS
Module 4, part 2 by Turku University of Applied Sciences
2
Part 2
Costs, emissions, and impact regarding sustainable energy
Learning objectives and outcomes of the module:
• ability to understand the concept of energy transition
• ability to understand the concept of LCOE (Levelized cost of energy)
• ability to understand about emissions and environmental impact of
sustainable energy solutions
3
Introduction
• Energy is critical to economic development and human welfare, and is also
inextricably linked to the challenges of sustainable development (Mundaca
et al., 2018).
• According to Chen et al. (2019) the global energy transition is still
underway, from traditional biomass energy to modern commercial energy
(such as electricity) and new renewable energy (such as wind and solar
energy).
• The energy transition is pushing the frontiers in energy modelling, not only
with new technologies, but also towards frameworks capable of
representing the interdependencies between policy making, energy
infrastructure expansion, market behaviour, environmental impact and
supply security (del Granado et al., 2018).
4
The sustainable
energy transition
is not just a shifting to a new and high-
efficiency energy system, but also a
challenge in terms of making sure the
environmental and social costs, risks and
benefits of that shift are well managed in
a way that can be considered
sustainable.
(Sareen and Haarstad, 2018).
5
Energy, resource and environmental impacts are
interlinked
• The focus of energy transition should not be limited to
assessing certain technologies, or studying isolated
components and factors of the energy system (del Granado et
al., 2018).
• As environmental accounting and evaluation of energy systems
are the basis for the design and optimization of sustainable
energy system from both micro and macro level, tools for
environmental modelling should be improved to increase the
accuracy and robustness (Chen et al., 2020)
6
Deepening
environmental
modelling studies
may unveil a broader picture of
the energy-environment nexus
system, which can foster
collaborative management to
achieve both the targets of
energy saving and emission
reduction.
(Chen et al., 2019)
7
8
Source used: Journal of Cleaner Production
Without a managerial framework and
a well-designed energy market to
tackle the energy question,
numerous new technologies for
energy efficiency improvement and
renewable integration will not gain
the momentum required.
(Chen et al., 2019)
Managerial
framework is
needed
Renewable energy and global energy transition
• “While climate change mitigation is a powerful driver behind the
shift away from fossil fuel-based power generation, this is not
the only driver. At the same time, renewable power has become
the cheapest form of electricity generation and the costs
continue to fall thanks to improvements in technology and
economies of scale. The share of renewable power continue to
rise from year to year, with nearly 30% renewables in the global
power mix at present and renewables dominating yearly
capacity additions.” (World Economic Forum, 2021)
9
Share of renewable
energy in the mix
• Variable renewables will dominate the
world's total power supply by 2050, a
major change from today’s situation.
• Yet experience from around the world
shows it is possible to operate power
systems with high shares of variable
renewables, as witnessed in Germany,
Ireland and the UK, amongst others.
(Source: World Economic Forum)
10
The four main pillars supporting increased flexibility of
renewable energy transition by IRENA
11
Defining LCOE (Levelized Cost of Energy)
• The levelized cost of energy (LCOE), also referred to as the
levelized cost of electricity or the levelized energy cost (LEC), is
a measurement used to assess and compare alternative
methods of energy production.
• The LCOE of an energy-generating asset can be thought of as
the average total cost of building and operating the asset per
unit of total electricity generated over an assumed lifetime.
(Source: Corporate finance institute)
12
Defining LCOE (Cont.)
• The LCOE is a fundamental calculation used in the preliminary
assessment of an energy-producing project.
• The LCOE can be used to determine whether to move forward
with a project or as a means to compare different energy-
producing projects.
• The formula to calculate the LCOE is (Present Value of Total
Cost Over the Lifetime)/(Present Value of All Electricity
Generated Over the Lifetime). [see next slide]
(Source: Corporate finance institute)
13
The formula
14
15
Renewables vs. Fossil Fuels: The True Cost of Energy
• Video (17 minutes): Engineering with Rosie available
Emissions and environmental impact of sustainable
energy solutions
• Rising energy demand and efforts to combat climate change
require a significant increase in low-carbon electricity
generation.
• Yet, concern has been raised that rapid investment in some
novel technologies could cause a new set of environmental
problems.
(Source: Resource Panel)
16
17
The impact on emissions of replacing fossil fuels
18
Renewables can help decarbonise cities (IRENA)
• A short, 1 minute video by IRENA
Report by International
Resource Panel (IRP)
• Compared to coal, electricity
generated by hydro, wind, solar
and geothermal power can bring
substantial reductions in
greenhouse gases emissions (by
more than 90 per cent), and also
of pollutants harmful to human
health and ecosystems (by 60-90
per cent).
19
20
Picture: Forest 2 Market
carbon dioxide from fossil fuel
power plants will reduce
greenhouse gas emissions by
70 per cent, but increase the
pollution damaging human
health and ecosystems by 5-
80 per cent.
Source: IRP
The capture and
storage of
Please familiarize
yourself with
The infographic by IRP and UNEP on “How
energy choices influence the human
future” which is available as PDF on the
learning platform.
The full report is available for download at
Resource Panel
21
Self-study questions
1.What is meant with sustainable energy transition?
2.What is meant with the concept of LCOE
3.Why are emissions in such a big role in the discussion, and
what are the environmental impact of sustainable solutions?
22
This is the end of part 2. Thank you
23

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TOO4TO Module 4 / Sustainable Energy Solutions: Part 2

  • 1.
  • 2. SUSTAINABLE ENERGY SOLUTIONS Module 4, part 2 by Turku University of Applied Sciences 2
  • 3. Part 2 Costs, emissions, and impact regarding sustainable energy Learning objectives and outcomes of the module: • ability to understand the concept of energy transition • ability to understand the concept of LCOE (Levelized cost of energy) • ability to understand about emissions and environmental impact of sustainable energy solutions 3
  • 4. Introduction • Energy is critical to economic development and human welfare, and is also inextricably linked to the challenges of sustainable development (Mundaca et al., 2018). • According to Chen et al. (2019) the global energy transition is still underway, from traditional biomass energy to modern commercial energy (such as electricity) and new renewable energy (such as wind and solar energy). • The energy transition is pushing the frontiers in energy modelling, not only with new technologies, but also towards frameworks capable of representing the interdependencies between policy making, energy infrastructure expansion, market behaviour, environmental impact and supply security (del Granado et al., 2018). 4
  • 5. The sustainable energy transition is not just a shifting to a new and high- efficiency energy system, but also a challenge in terms of making sure the environmental and social costs, risks and benefits of that shift are well managed in a way that can be considered sustainable. (Sareen and Haarstad, 2018). 5
  • 6. Energy, resource and environmental impacts are interlinked • The focus of energy transition should not be limited to assessing certain technologies, or studying isolated components and factors of the energy system (del Granado et al., 2018). • As environmental accounting and evaluation of energy systems are the basis for the design and optimization of sustainable energy system from both micro and macro level, tools for environmental modelling should be improved to increase the accuracy and robustness (Chen et al., 2020) 6
  • 7. Deepening environmental modelling studies may unveil a broader picture of the energy-environment nexus system, which can foster collaborative management to achieve both the targets of energy saving and emission reduction. (Chen et al., 2019) 7
  • 8. 8 Source used: Journal of Cleaner Production Without a managerial framework and a well-designed energy market to tackle the energy question, numerous new technologies for energy efficiency improvement and renewable integration will not gain the momentum required. (Chen et al., 2019) Managerial framework is needed
  • 9. Renewable energy and global energy transition • “While climate change mitigation is a powerful driver behind the shift away from fossil fuel-based power generation, this is not the only driver. At the same time, renewable power has become the cheapest form of electricity generation and the costs continue to fall thanks to improvements in technology and economies of scale. The share of renewable power continue to rise from year to year, with nearly 30% renewables in the global power mix at present and renewables dominating yearly capacity additions.” (World Economic Forum, 2021) 9
  • 10. Share of renewable energy in the mix • Variable renewables will dominate the world's total power supply by 2050, a major change from today’s situation. • Yet experience from around the world shows it is possible to operate power systems with high shares of variable renewables, as witnessed in Germany, Ireland and the UK, amongst others. (Source: World Economic Forum) 10
  • 11. The four main pillars supporting increased flexibility of renewable energy transition by IRENA 11
  • 12. Defining LCOE (Levelized Cost of Energy) • The levelized cost of energy (LCOE), also referred to as the levelized cost of electricity or the levelized energy cost (LEC), is a measurement used to assess and compare alternative methods of energy production. • The LCOE of an energy-generating asset can be thought of as the average total cost of building and operating the asset per unit of total electricity generated over an assumed lifetime. (Source: Corporate finance institute) 12
  • 13. Defining LCOE (Cont.) • The LCOE is a fundamental calculation used in the preliminary assessment of an energy-producing project. • The LCOE can be used to determine whether to move forward with a project or as a means to compare different energy- producing projects. • The formula to calculate the LCOE is (Present Value of Total Cost Over the Lifetime)/(Present Value of All Electricity Generated Over the Lifetime). [see next slide] (Source: Corporate finance institute) 13
  • 15. 15 Renewables vs. Fossil Fuels: The True Cost of Energy • Video (17 minutes): Engineering with Rosie available
  • 16. Emissions and environmental impact of sustainable energy solutions • Rising energy demand and efforts to combat climate change require a significant increase in low-carbon electricity generation. • Yet, concern has been raised that rapid investment in some novel technologies could cause a new set of environmental problems. (Source: Resource Panel) 16
  • 17. 17 The impact on emissions of replacing fossil fuels
  • 18. 18 Renewables can help decarbonise cities (IRENA) • A short, 1 minute video by IRENA
  • 19. Report by International Resource Panel (IRP) • Compared to coal, electricity generated by hydro, wind, solar and geothermal power can bring substantial reductions in greenhouse gases emissions (by more than 90 per cent), and also of pollutants harmful to human health and ecosystems (by 60-90 per cent). 19
  • 20. 20 Picture: Forest 2 Market carbon dioxide from fossil fuel power plants will reduce greenhouse gas emissions by 70 per cent, but increase the pollution damaging human health and ecosystems by 5- 80 per cent. Source: IRP The capture and storage of
  • 21. Please familiarize yourself with The infographic by IRP and UNEP on “How energy choices influence the human future” which is available as PDF on the learning platform. The full report is available for download at Resource Panel 21
  • 22. Self-study questions 1.What is meant with sustainable energy transition? 2.What is meant with the concept of LCOE 3.Why are emissions in such a big role in the discussion, and what are the environmental impact of sustainable solutions? 22
  • 23. This is the end of part 2. Thank you 23