The Experts below are selected from a list of 9882 Experts worldwide ranked by ideXlab platform

Philip A. Horvath - One of the best experts on this subject based on the ideXlab platform.

Richard S. Bower - One of the best experts on this subject based on the ideXlab platform.

  • The N-Stage Discount Model and Required Return: A Comment
    The Financial Review, 1992
    Co-Authors: Richard S. Bower
    Abstract:

    A number of financial economists have observed that estimates of the Market Discount Rate have a downward bias when dividend timing is ignored. They have done so in academic and utility industry journals as well as in testimony. Most conclude or imply that such a downward bias carries over to the calculation of a regulated utility's required Rate of return. This paper demonstRates that in fact the conventional cost of equity calculation, ignoring quarterly compounding and even without adjustment for fractional periods, serves very well as a measure of required return. Copyright 1992 by MIT Press.

John K. Horowitz - One of the best experts on this subject based on the ideXlab platform.

  • Environmental Policy Under a Non-Market Discount Rate
    Ecological Economics, 1996
    Co-Authors: John K. Horowitz
    Abstract:

    Abstract This paper looks at pollution emissions when a non-Market Discount Rate is used to evaluate environmental policy, and policy is subject to continuous review through time. It is shown that a non-Market Rate leads to time-inconsistent policy: Future regulators will want not to follow the current regulator's optimal plans, even when the current regulator has perfect foresight and there is no uncertainty. Therefore, the Discount Rate has different effects depending on whether government can commit to future environmental regulation. We then show in a simple linear model that when the “environmental” Discount Rate is below the Market Rate, pollution is higher under no commitment than under commitment. Even under no commitment, however, a lower Discount Rate leads to lower emissions. We argue that the debate might be better framed over “prices” (i.e., the value of the environment in the future) rather than the Discount Rate. This treatment removes the inconsistency problem yet ensures that future generations' interests are represented in policy decisions.

Fanran Meng - One of the best experts on this subject based on the ideXlab platform.

  • Techno-economic evaluation of multiple energy piles for a ground-coupled heat pump system
    Energy Conversion and Management, 2018
    Co-Authors: Yuanlong Cui, Jie Zhu, Fanran Meng
    Abstract:

    Abstract A technical and economic feasibility study of multiple energy piles (EPs) for a ground-coupled heat pump (GCHP) system is presented in this paper. The GCHP system energy performance and life-cycle cost (LCC) are evaluated, it is found that the system energy output (heating and cooling) could meet a domestic building comfortable environment requirement with the annual average COP of 3.63 and EER of 4.62. The LCC evaluation indicates that the system net present value (NPV) is approximately £26,095 at the Market Discount Rate of 8.75% for a 20-year operating period. Moreover, the payback period of the GCHP system is approximately 4.31 years, which is sensitive to the main parameters including electricity price, capital investment and energy generation. Furthermore, the low Discount Rate and high energy generation are beneficial to the GCHP system with the high NPV and cash flows. The capital price of the system should be regulated to a lower level for the larger Market potential.

Yuanlong Cui - One of the best experts on this subject based on the ideXlab platform.

  • Techno-economic evaluation of multiple energy piles for a ground-coupled heat pump system
    Energy Conversion and Management, 2018
    Co-Authors: Yuanlong Cui, Jie Zhu, Fanran Meng
    Abstract:

    Abstract A technical and economic feasibility study of multiple energy piles (EPs) for a ground-coupled heat pump (GCHP) system is presented in this paper. The GCHP system energy performance and life-cycle cost (LCC) are evaluated, it is found that the system energy output (heating and cooling) could meet a domestic building comfortable environment requirement with the annual average COP of 3.63 and EER of 4.62. The LCC evaluation indicates that the system net present value (NPV) is approximately £26,095 at the Market Discount Rate of 8.75% for a 20-year operating period. Moreover, the payback period of the GCHP system is approximately 4.31 years, which is sensitive to the main parameters including electricity price, capital investment and energy generation. Furthermore, the low Discount Rate and high energy generation are beneficial to the GCHP system with the high NPV and cash flows. The capital price of the system should be regulated to a lower level for the larger Market potential.