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Baratsas SG, Niziolek AM, Onel O, Matthews LR, Floudas CA, Hallermann DR, Sorescu SM, Pistikopoulos EN. A framework to predict the price of energy for the end-users with applications to monetary and energy policies. Nat Commun 2021; 12:18. [PMID: 33398000 PMCID: PMC7782726 DOI: 10.1038/s41467-020-20203-2] [Citation(s) in RCA: 10] [Impact Index Per Article: 3.3] [Reference Citation Analysis] [Abstract] [Track Full Text] [Download PDF] [Figures] [Journal Information] [Subscribe] [Scholar Register] [Received: 02/27/2020] [Accepted: 11/09/2020] [Indexed: 11/21/2022] Open
Abstract
Energy affects every single individual and entity in the world. Therefore, it is crucial to precisely quantify the “price of energy” and study how it evolves through time, through major political and social events, and through changes in energy and monetary policies. Here, we develop a predictive framework, an index to calculate the average price of energy in the United States. The complex energy landscape is thoroughly analysed to accurately determine the two key factors of this framework: the total demand of the energy products directed to the end-use sectors, and the corresponding price of each product. A rolling horizon predictive methodology is introduced to estimate future energy demands, with excellent predictive capability, shown over a period of 174 months. The effectiveness of the framework is demonstrated by addressing two policy questions of significant public interest. Global energy transformation requires quantifying the "price of energy" and studying its evolution. Here the authors present a predictive framework that calculates the average US price of energy, estimating future energy demands for up to four years with excellent accuracy, designing and optimizing energy and monetary policies.
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Affiliation(s)
- Stefanos G Baratsas
- Artie McFerrin Department of Chemical Engineering, Texas A&M University, College Station, TX, 77843, USA.,Texas A&M Energy Institute, Texas A&M University, College Station, TX, 77843, USA
| | - Alexander M Niziolek
- Artie McFerrin Department of Chemical Engineering, Texas A&M University, College Station, TX, 77843, USA.,Texas A&M Energy Institute, Texas A&M University, College Station, TX, 77843, USA
| | - Onur Onel
- Artie McFerrin Department of Chemical Engineering, Texas A&M University, College Station, TX, 77843, USA.,Texas A&M Energy Institute, Texas A&M University, College Station, TX, 77843, USA
| | - Logan R Matthews
- Artie McFerrin Department of Chemical Engineering, Texas A&M University, College Station, TX, 77843, USA.,Texas A&M Energy Institute, Texas A&M University, College Station, TX, 77843, USA
| | - Christodoulos A Floudas
- Artie McFerrin Department of Chemical Engineering, Texas A&M University, College Station, TX, 77843, USA.,Texas A&M Energy Institute, Texas A&M University, College Station, TX, 77843, USA
| | - Detlef R Hallermann
- Department of Finance, Mays Business School, Texas A&M University, College Station, TX, 77843, USA
| | - Sorin M Sorescu
- Department of Finance, Mays Business School, Texas A&M University, College Station, TX, 77843, USA
| | - Efstratios N Pistikopoulos
- Artie McFerrin Department of Chemical Engineering, Texas A&M University, College Station, TX, 77843, USA. .,Texas A&M Energy Institute, Texas A&M University, College Station, TX, 77843, USA.
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Developing Process Designs for Biorefineries—Definitions, Categories, and Unit Operations. ENERGIES 2020. [DOI: 10.3390/en13061493] [Citation(s) in RCA: 14] [Impact Index Per Article: 3.5] [Reference Citation Analysis] [Abstract] [Track Full Text] [Subscribe] [Scholar Register] [Indexed: 01/02/2023]
Abstract
In this review, we focus on the literature that described the various unit operations in a process design flowsheet of biorefineries. We begin by establishing the accepted definitions of a biorefinery, go on to describe how to categorize biorefineries, and finally review the literature on biorefinery process designs by listing the unit operation in each process design. Distinguishing biorefineries based on feedstock, the types of processing units, and the products emanating from the biorefinery are discussed.
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An Investigation of the Feasibility of the Organic Municipal Solid Waste Processing by Coking. SUSTAINABILITY 2019. [DOI: 10.3390/su11020389] [Citation(s) in RCA: 6] [Impact Index Per Article: 1.2] [Reference Citation Analysis] [Abstract] [Track Full Text] [Subscribe] [Scholar Register] [Indexed: 01/19/2023]
Abstract
In the context of transition to a circular economy, one of the strategic priorities is the development of technological innovations aimed at waste processing. In this study, the foundations have been developed for a low-temperature, environmentally safe method for efficient processing of organic municipal solid waste, which may be further applied for processing both municipal and industrial waste organics in order to obtain liquid products. The maximum yield of liquid products is ensured when conducting the coking of a mixture of organic waste with long residuum in the temperature range of 400–420 °C, with a heating rate of 5–70 °C/min, and with an optimal heating time to the coking temperature of 80 min. Recommendations on the use of the waste recycling products are given. The proposed process is consistent with the principles of circular economy and does not require external energy costs because the energy needed for the process is generated by burning the gas produced during the waste coking. The process does not produce emissions into the environment and, in combination with standard refining processes, can be used to obtain commercial petroleum products.
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Mohammadi M, Jämsä‐Jounela S, Harjunkoski I. Sustainable supply chain network design for the optimal utilization of municipal solid waste. AIChE J 2018. [DOI: 10.1002/aic.16464] [Citation(s) in RCA: 10] [Impact Index Per Article: 1.7] [Reference Citation Analysis] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 11/08/2022]
Affiliation(s)
- Maryam Mohammadi
- Dept. of Chemical and Metallurgical EngineeringSchool of Chemical Engineering, Aalto University FI‐00076, Espoo Finland
| | - Sirkka‐Liisa Jämsä‐Jounela
- Dept. of Chemical and Metallurgical EngineeringSchool of Chemical Engineering, Aalto University FI‐00076, Espoo Finland
| | - Iiro Harjunkoski
- Dept. of Chemical and Metallurgical EngineeringSchool of Chemical Engineering, Aalto University FI‐00076, Espoo Finland
- ABB Corporate Research Center 68526, Ladenburg Germany
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Tso WW, Niziolek AM, Onel O, Demirhan CD, Floudas CA, Pistikopoulos EN. Reprint of: Enhancing natural gas-to-liquids (GTL) processes through chemical looping for syngas production: Process synthesis and global optimization. Comput Chem Eng 2018. [DOI: 10.1016/j.compchemeng.2018.10.017] [Citation(s) in RCA: 2] [Impact Index Per Article: 0.3] [Reference Citation Analysis] [Track Full Text] [Journal Information] [Subscribe] [Scholar Register] [Indexed: 11/25/2022]
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Antonetti E, Iaquaniello G, Salladini A, Spadaccini L, Perathoner S, Centi G. Waste-to-Chemicals for a Circular Economy: The Case of Urea Production (Waste-to-Urea). CHEMSUSCHEM 2017; 10:912-920. [PMID: 27958665 DOI: 10.1002/cssc.201601555] [Citation(s) in RCA: 16] [Impact Index Per Article: 2.3] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 10/31/2016] [Revised: 12/12/2016] [Indexed: 06/06/2023]
Abstract
The economics and environmental impact of a new technology for the production of urea from municipal solid waste, particularly the residue-derived fuel (RdF) fraction, is analyzed. Estimates indicate a cost of production of approximately €135 per ton of urea (internal rate of return more than 10 %) and savings of approximately 0.113 tons of CH4 and approximately 0.78 tons of CO2 per ton of urea produced. Thus, the results show that this waste-to-urea (WtU) technology is both economically valuable and environmentally advantageous (in terms of saving resources and limiting carbon footprint) for the production of chemicals from municipal solid waste in comparison with both the production of urea with conventional technology (starting from natural gas) and the use of RdF to produce electrical energy (waste-to-energy). A further benefit is the lower environmental impact of the solid residue produced from RdF conversion. The further benefit of this technology is the possibility to realize distributed fertilizer production.
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Affiliation(s)
- Elena Antonetti
- Processi Innovativi, Via Guido Polidoro 1, 67100, L'Aquila, Italy
| | | | | | | | - Siglinda Perathoner
- Univ. Messina and INSTM/CASPE, Industrial Chemistry (Dept.s MIFT & ChimBioFarAm), V.le F. Stagno D'Alcontres 31, 98166, Messina, Italy
| | - Gabriele Centi
- Univ. Messina and INSTM/CASPE, Industrial Chemistry (Dept.s MIFT & ChimBioFarAm), V.le F. Stagno D'Alcontres 31, 98166, Messina, Italy
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