Search Results (10)

As the global energy transition accelerates, clean energy development has surged. However, accurately modeling correlations and uncertainties of hydro, wind, and photovoltaic energy remains challenging in long-term scheduling for energy complementarity. This study employs Latin hypercube sampling and Cholesky decomposition to capture the temporal correlations of water runoff, wind, and photovoltaic resources. It generates numerous scenarios for uncertainty simulation. The scenario set is reduced based on probability distance while maintaining a high-fidelity approximation. A stochastic dual-objective model is proposed for long-term multi-energy complementary system scheduling (LMCS), aiming to maximize expected revenue considering carbon emission costs while ensuring minimum power output guarantees. An evolutionary algorithm—namely, an orthogonal multi-population evolutionary (OMPE) algorithm based on orthogonal design and a multi-population search framework—is introduced, along with constraint-handling strategies. Three annual-regulation hydropower stations in the Hongshui River Basin serve as a case study. The experimental results indicate that generated scenarios capture temporal characteristics with high accuracy. The proposed algorithm efficiently solves the LMCS problem, achieving average increases of 5.46% and 3.89% in revenue and minimal output compared to benchmarks. The validation results demonstrate that orthogonalization-based initialization, recombination operators, and dominance rules significantly enhance OMPE performance. Sensitivity analysis indicates that economic efficiency and risk trade-offs can be adjusted by varying scenario numbers. Full article

Digital transformation has been accelerating the development of the global tax landscape, giving multinational companies the potential to generate revenue from certain jurisdictions without any physical presence in the relevant countries. This condition has triggered global initiatives aiming to prevent cross-jurisdictional tax evasion through the Global Minimum Tax (‘GMT’) consensus. This study will discuss how tax incentive policies in Indonesia can face the challenges brought by GMT while guaranteeing a good business climate for foreign investors. A normative research method alongside a descriptive and comparative approach will be used to analyze regulations and tax policies on investment in Japan and Vietnam, highlighting learning opportunities for Indonesia. The results of our research show that Japan and Vietnam still use tax incentives as a means to attract foreign investors, but only as additional factors. In contrast, the a quo condition in Indonesia shows an attachment to tax incentives as the main stimulus of investment, despite Indonesia’s natural resources, human resources, and existing markets having the potential to become the main capital drawing interest from foreign investors. Furthermore, the adoption of GMT in Indonesia is currently at the ministerial regulation level and is still considered insufficient, since it is not in line with the hierarchy of law, both in terms of legal norms and the principle of legality in taxation. Thus, Indonesia needs to immediately shift its focus to alternative incentives and ensure the integration of GMT into the national law through the reformation of policies and rules and regulations concerning taxation and investment. Full article

This paper demonstrates the use of an Excel-based tool called the “Electric Vehicle-Charging Infrastructure Financial Analysis Spreadsheet Tool”, or “EVCI-FAST”, developed to analyze public–private partnership approaches to deliver publicly accessible EV-charging infrastructure that would not be commercially viable without a government subsidy. To demonstrate the use of this tool, we conducted a high-level screening analysis for a hypothetical bundle of publicly accessible EV-charging stations to assess the financial viability of delivering electric vehicle-charging infrastructure (EVCI) using alternative public–private partnership (P3) structures. This demonstration suggests that the EVCI-FAST could assist public agencies in determining whether their budgetary resources are adequate to support a proposed P3 for an EVCI project. The demonstration suggests that the EVCI-FAST could also help agencies decide which P3 structuring option would best meet their financial objectives. The results from the analysis of the hypothetical project suggest that public agencies could benefit considerably from a P3 structure that uses a minimum revenue guarantee to reduce revenue risk for the private partner. Full article

With the development of mobile applications, location-based services (LBSs) have been incorporated into people’s daily lives and created huge commercial revenues. However, when using these services, people also face the risk of personal privacy breaches due to the release of location and query content. Many existing location privacy protection schemes with centralized architectures assume that anonymous servers are secure and trustworthy. This assumption is difficult to guarantee in real applications. To solve the problem of relying on the security and trustworthiness of anonymous servers, we propose a Geohash-based location privacy protection scheme for snapshot queries. It is named $GLPS$. On the user side, $GLPS$ uses Geohash encoding technology to convert the user’s location coordinates into a string code representing a rectangular geographic area. $GLPS$ uses the code as the privacy location to send check-ins and queries to the anonymous server and to avoid the anonymous server gaining the user’s exact location. On the anonymous server side, the scheme takes advantage of Geohash codes’ geospatial gridding capabilities and GL-Tree’s effective location retrieval performance to generate a k-anonymous query set based on user-defined minimum and maximum hidden cells, making it harder for adversaries to pinpoint the user’s location. We experimentally tested the performance of $GLPS$ and compared it with three schemes: $Casper$, $GCasper$, and $DLS$. The experimental results and analyses demonstrate that $GLPS$ has a good performance and privacy protection capability, which resolves the reliance on the security and trustworthiness of anonymous servers. It also resists attacks involving background knowledge, regional centers, homogenization, distribution density, and identity association. Full article

In developing countries, anti-poverty programs are often implemented by local governments. However, due to the limitation of fiscal resources, the amount of anti-poor expenditure by the local government is generally less than what is needed for the poor. In this paper, we investigate whether an increase in the fiscal resources of local government will lead to an increase in anti-poor fiscal expenditure using county-level Chinese data. Using the fixed effect model, we show that local governments will put more fiscal resources into the minimum living standard guarantee (MLSG) system if they receive more intergovernmental transfers from high-level governments, but this effect only exists in urban areas. Moreover, the off-budget fiscal revenue does not affect the anti-poverty expenditure, both in rural and urban areas. Full article

The world is once again facing massive energy- and environmental challenges, caused by global warming. This time, the situation is complicated by the increase in energy demand after the pandemic years, and the dramatic lack of basic energy supply. The purely “green” energy is still not ready to substitute the fossil energy, but this year the fossil supplies are heavily questioned. Consequently, engineering must take flexible, adaptive, unexpected directions. For example, even the natural gas power plants are currently considered “green” by the European Union Taxonomy, joining the “green” hydrogen. Through a tight integration of highly intermittent renewable, or other distributed energy resources, the microgrid is the technology of choice to guarantee the expected impacts, making clean energy affordable. The focus of this work lies in the techno-economic optimization analysis of Combined Heat and Power (CHP) Multi-Micro Grids (MMG), a novel distribution system architecture comprising two interconnected hybrid microgrids. High computational resources are needed to investigate the CHP-MMG. To this aim, a novel nature-inspired two-layer optimization-simulation algorithm is discussed. The proposed algorithm is used to execute a techno-economic analysis and find the best settings while the energy balance is achieved at minimum operational costs and highest revenues. At a lower level, inside the algorithm, a Sequential Least Squares Programming (SLSQP) method ensures that the stochastic generation and consumption of energy deriving from CHP-MMG trial settings are balanced at each time-step. At the upper level, a novel multi-objective self-adaptive evolutionary algorithm is discussed. This upper level is searching for the best design, sizing, siting, and setting, which guarantees the highest internal rate of return (IRR) and the lowest Levelized Cost of Energy (LCOE). The Artificial Immune Evolutionary (AIE) algorithm imitates how the immune system fights harmful viruses that enter the body. The optimization method is used for sensitivity analysis of hydrogen costs in off-grid and on-grid highly perturbed contexts. It has been observed that the best CHP-MMG settings are those that promote a tight thermal and electrical energy balance between interconnected microgrids. The results demonstrate that such mechanism of energy swarm can keep the LCOE lower than 15 c€/kWh and IRR of over 55%. Full article

Rejecting the Obama Administration’s argument that the First Amendment requires identical treatment for religious organizations and secular organizations, the Supreme Court held such a “result is hard to square with the text of the First Amendment itself, which gives special solicitude to the rights of religious organizations.” (Hosanna-Tabor, 565 U.S. at 189). This “special solicitude” guarantees religious freedom from the government in all aspects of society, but particularly on public university campuses. At a minimum, religious expression and religious organizations must have equal rights with secular expression and secular organizations. In some instances, religious expression and religious expression may have greater rights. The Court’s 2020 decisions in Espinoza v. Montana Department of Revenue, and Our Lady of Guadalupe School v. Morrissey-Berru, reinforce and expand the “special solicitude” of religion. Indeed, Espinoza and Our Lady have profound implications for student religious groups at America’s public campuses. This article examines religious freedom at America’s public universities. This article has three parts. First, it offers an overview of religious freedom prior to Espinoza and Our Lady. Second, it briefly discusses those two cases. Third, it explores the implications of those decisions on America’s public campuses. Full article

Various risk factors influence the success of public–private partnership (PPP) projects. This study analyzes the risk attributes of PPP projects and develops a regression model based on a 20-year PPP project database to quantitatively analyze the factors affecting the contracted internal rate of return (CIRR) of PPP projects. Although the risk factors of PPP projects have been widely studied, the factors affecting CIRR have not been explored. Information from the intra-info DB system managed by Korea Development Institute was used to calculate the impact of the variables on CIRR. It was observed that the CIRR of Korea’s PPP projects did not reflect the risks associated with the facility types, service area, amount of private investment, and operation period accurately. Financing costs did not demonstrate a statistically significant relationship with the CIRR either. Furthermore, the CIRR of projects with a minimum revenue guarantee option was found to be higher than that of projects without. The CIRR of the current project was found to be closely related to the number of bidding competitors and the CIRR values of previous projects that are similar to the current one. This is attributed to a failure in the bureaucratic negotiation behavior of the parties due to their avoidance of responsibilities. Full article

Public private partnership (PPP) models are often used in delivering wastewater treatment (WWT) projects. When existing PPP projects need expansion due to higher demand for WWT, in many cases, the expansion may involve a new PPP contract involving a new concessionaire. Expansion PPPs have unique challenges as the sharing of responsibilities and risks can become complex. The complexities are further exacerbated when there are government guarantees involved. Structuring inappropriate guarantees can often lead to high costs for the government. This study focused on the choice of government guarantee in PPP expansion projects in the WWT sector by examining two popular guarantee mechanisms: minimum revenue guarantee and exclusive right. A decision model was developed and applied in a real WWT expansion PPP project in China to illustrate the optimal guarantee under varying circumstances related to service demand, expected unit price, and the existing guarantees in the existing PPP project. The contribution of the study lies in the applicability of the model to facilitate better decisions for the government in selecting the optimal guarantee mechanism in PPP expansion projects. Full article

The Minimum Revenue Guarantee (MRG) was designed to mitigate the financial risk of private investors that participate in the transportation project as concessionaire under a public-private partnership (PPP) program. The MRG can pose a significant financial burden to governments especially when the contract revenue is set considerably higher than the actual revenue. This may encourage the concessionaire to inflate the traffic forecast to make the project look as if it will be profitable. In order to mitigate this problem, extra conditions for exercising the MRG can be considered. This study examines how these exercise conditions change the economic value of the MRG using the case study based on the urban railway project in the Republic of Korea. By utilizing the real options analysis, the study identified that the exercise conditions have worked to curtail the expected payment from the government, eventually leading to a reduction in the concessionaire’s expectation of revenue. The value of MRG was at a far lower level compared to the concessionaire’s investment because of the low probability of exercising the MRG when the exercise conditions apply. The findings are expected to contribute to the sustainability of the PPP program by recognizing and quantifying liabilities and risks embedded in the concession agreement in advance. Full article