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Search indexed NASA NTRS and DOE OSTI research on propulsion, heat transfer, battery materials and energy systems. Follow report and document links to the original sources.

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All sourcesNASA NTRSDOE OSTI
DOE OSTI2020

Optimizing HVAC Operations in Multi-unit Buildings for Grid Demand Response

The thermal inertia of buildings, along with the flexibility associated with thermostatically controlled loads (TCL) allows heating ventilation and cooling (HVAC) systems to be used for grid demand response (DR). In this work, we consider an HVAC system that serves multiple units in a residential building to meet their space heating requirements. We aim to determine the optimal power flow to each unit that minimizes the power costs incurred by the building's occupants while keeping in consideration their thermal comfort. The DR program is assumed to allow the building temperatures to deviate from the set-points up to a maximum limit. Despite the complex, non-linear structure of the problem, we show how the optimal solutions can be obtained efficiently using quadratic programming. Since HVAC systems can run on either electricity or natural gas, we study the efficacy of the DR regime for both hourly electricity prices and flat gas prices over the course of 24 hours. Finally, we run simulations to determine the optimal thermal power and the evolution of unit temperatures for various energy pricing schemes.

Naqvi, Syed A.↗
DOE OSTI2021

Analysis of Residential Time-of-Use Utility Rate Structures and Economic Implications for Thermal Energy Storage

Thermal energy storage (TES) is an increasingly popular tool to level out the daily electrical demand and add stability to the electrical grid as more intermittent renewable energy sources are installed. TES systems can locally decouple high thermal loads from the operation of a heat pump or reduce the electrical energy demand of the heat pump by providing a more favorable temperature gradient. In addition, many policy makers and utility providers have introduced time-of-use (TOU) rate schedules for residential customers to better reflect the price of electricity generation and demand for specific times. TOU rate schedules price grid-provided electricity differently throughout the day depending on the region’s climate, time of year, and electrical production. Large differences between on-peak and off-peak electrical prices may create an economic advantage for a residential customer to install a TES system. In this work, the economic and energy savings are calculated for a modeled 2,400 square foot residential building with water/ice-based TES using a TOU rate structure. The weather data is from Fresno County, CA, ASHRAE climate zone 3B, and a representative residential TOU utility rate structure from Pacific Gas and Electric (PG&E) was used. The results showed that total energy consumption could be reduced by 14.5% with an 87.5% reduction in on-peak energy usage when the TES is installed. The cost of operating this system for space cooling was reduced by nearly 20% using the sample utility rate plan.

Sultan, Sara↗
DOE OSTI2021

Markets and Economic Requirements for Fission Batteries and Other Nuclear Systems

Fission Batteries (FBs) are nuclear reactors defined by five characteristics which enable large-scale deployment: cost competitive, standardized sizes for economic mass production, easy installation and removal, secure and safe unattended operation with high reliability. FBs are not defined by technology or power level. Technical and market considerations suggest that most FBs will produce 20 to 30 MWt. This proceedings reports on the outcomes of two workshops that were held in January 2021 to better define markets and economic challenges for FBs. Three major markets were identified. The largest market is the industrial and commercial heat market. There are about 4000 industrial users (excluding utilities) that require more than one megawatt of heat. The number of customers versus size of heat demand was determined. In a low-carbon world there is the potential for many additional customers—including expanded biofuels production and district heat. The second market is for non-grid electricity. This includes co-generation plants that produce heat and electricity for a single customer. The third market is the maritime market with ~100,000 ships worldwide. In the United States, natural gas is the low-cost energy option today and will remain so unless constraints or taxes impact its use. If restrictions on greenhouse gas emissions, the FB competition includes natural gas with carbon capture, biofuels, hydrogen and grid electricity. Natural gas with carbon capture is not economically viable on a small scale. Biofuels may be expensive but may be the economically preferred option for locations with small energy demands of a few megawatts. Hydrogen is a potential competitor with many of the characteristics of natural gas. Grid electricity is not a competitive source of heat. For FBs to be economically competitive, the price of delivered heat must be $20-50/MWh ($6-15/million BTU). The economically competitive range for non-grid electricity is estimated at $70-100/MWh. These electricity prices are competitive with the retail prices of electricity in many parts of the United States for the customer. FBs are not expected to be competitive selling wholesale electricity to the grid. To achieve the aforementioned cost targets for heat and electricity markets, FB designers must (1) maximize the power output within the constraints of a FB (e.g., truck transportability, passive decay heat removal), (2) drastically reduce the size of onsite staff, (3) adopt core designs with low fuel costs (enrichment and fabrication), and (4) develop a system design that is efficiently manufactured in factories. The business case depends upon more than being just a replacement for natural gas. The largest incentives for adoption of FBs is where they create new markets and new sources of revenue. An example is the paper and pulp industry that burns biomass wastes to provide heat and electricity to make paper. An external heat source could meet the demand for heat and electricity by the paper process and enable converting waste biomass into liquid biofuels rather than burning to provide heat. Other markets, such as data centers, are driven by special energy requirements such as extreme reliability. Most customers are not in the energy business but need heat and electricity to produce a product—a manufactured good, education, retail sales (shopping malls), marine transport or some other product. As a consequence, there will be large incentives to lease rather than own FBs. Leasing avoids the regulatory challenges that remain with the owner of the FB. Leasing creates large incentives for FP standardization of sizes and transportability to maintain the value of the FB at the end of the lease—similar to the leasing of jet engines and aircraft. The economic constraints combined with technical constraints suggest competitive FBs will likely have outputs exceeding 10 MWt. There appear to be little incentives for very long-lived reactor cores because such machines require much larger inventories of fuel. Maintenance requirements and the options to provide technology updates may favor shorter lifetimes (~5 years). The assessment is that there is the potential for FBs to be economically viable and play a major role in global decarbonization in three markets: heat, non-grid electricity and maritime applications.

22 GENERAL STUDIES OF NUCLEAR REACTORS↗
DOE OSTI2021

System Modeling of the HTTR and Economic Dispatch Model of the Secondary System

High Temperature Gas-cooled Reactors (HTGRs) can be used for the generation of electricity and their process heat can be used to improve the efficiency of chemical processes such as hydrogen production. The JAEA-operated High-Temperature engineering Test Reactor (HTTR-GT/H2) is exploring using the reactor for electricity and hydrogen production. A RELAP5-3D model of the HTTR-GT/H2 secondary system has been developed using design information. The various components and heat exchangers in the secondary system were modeled and results were compared to the design conditions. The results for the sole-power generation mode were shown to fit the design conditions very well. The largest temperature difference was on the order of 7 K, and the largest pressure difference was on the order of 0.05 MPa. The results for the hydrogen cogeneration mode did not match the design conditions nearly as well. The largest temperature difference was about 39 K and the largest pressure difference was about 0.27 MPa at the compressor outlet. The larger differences for the hydrogen cogeneration mode are attributed to the various complex components and the flow being split in the secondary loop. A transient reduction in heat removal capability of the secondary system was investigated. Reactor temperatures are anticipated to rise as a result. The core reactivity response due to this increase in temperature is investigated and is expected to add negative reactivity to the reactor. An economic dispatch model was developed for a nuclear-driven iodine-sulfur cycle system to determine hydrogen sale prices that would make such a system profitable. The study focuses on the development of the economic model and the role that input data plays on final calculated values. It was found that the input electricity prices, whether using historical data or a host of synthetic time histories, produce significantly different breakeven hydrogen sale prices. As such, great care should be used in these economic dispatch analyses to select reasonable input assumptions.

21 SPECIFIC NUCLEAR REACTORS AND ASSOCIATED PLANTS↗
DOE OSTI2021

Modeling the Strategic Behavior of an Active Distribution Network in the ISO Markets

With increasing integration of distributed energy resources (DERs), active distribution networks (ADNs) can actively participate in the electricity markets by dispatching their DERs, which can change the existing electricity market paradigm. It is essential to investigate the strategic behaviors of ADNs and their DER dispatch when they participate in the wholesale market as price-makers. This paper proposes a bi-level optimization model to study the strategic behavior of an ADN in both energy and reserve markets. The optimal scheduling of DERs in the ADN is modeled as the upper level problem and the joint energy and reserve market-clearing of the ISO is modeled as the lower-level problem. The two-level optimization models exchange bidding information and energy/reserve prices with each other. The proposed bi-Ievel optimization problem is converted to a mathematical programming with equilibrium constraints (MPEC) by using Karush-Kuhn Tucker (KKT) conditions and strong duality theory. Further, the MPEC problem is reformulated as a computationally-solvable mixed integer second order cone programming (MISOCP) model. The simulation results on an illustrative case demonstrate the impact of the strategic bidding of the ADN on the day-ahead energy and reserve market prices.

Xue, Yaosuo↗
DOE OSTI2022

How Does Home Energy Score Affect Home Value and Mortgage Performance?

Energy-efficient homes save their occupants money through lower energy bills. These savings might be capitalized into higher home sale prices. They also improve the household’s net cash flow, which might make households better able to pay mortgage debt. The U.S. Department of Energy (DOE)’s Home Energy Score (HES) assigns a 1-10 score to homes and estimates annual energy bills based on modeled energy consumption. In this paper we investigated the relationship between HES metrics and two housing market outcomes: home sale price and mortgage performance. We found that the relationship was only statistically significant in places with a mandatory HES assessment at the time of sale. Using a sample of 26,291 home sales that occurred after HES assessments, we found that a one-point increase in HES in these locations was associated with a 0.5% increase in sale price, and an increase in $100 of estimated annual energy bills was associated with a 0.4% decrease. This magnitude of effect is consistent with estimated magnitudes of home sale premiums for other green or energy-efficient home certifications in the literature. We also found that a one-point increase in HES was associated with a 5.5% reduction in the odds of a loan going 30 days delinquent if the loan originated after the assessment occurred. Similarly, we found that a $100 decrease in estimated annual energy bills was associated with a 2.3% decrease in the odds of a loan going delinquent if it originated after the assessment occurred. Our results suggest that HES provides a valuable signal for housing market transactions in specific situations.

Pigman, Margaret↗
DOE OSTI2023

Recommended vs. Actual Escalation Rates For ESPCs: Is the Guidance Good?

Escalation rates applied to the savings from energy savings performance contracts (ESPCs) and related financed energy projects play a large role in their scope and costs. The U.S. Department of Energy’sFederal Energy Management Program (FEMP) employs the National Institute of Standards and Technology (NIST) to package projections of real (uninflated) energy prices and general inflation forecasts developed by two other federal government entities. The main output from this exercise is NIST’s Energy Escalation Rate Calculator (EERC), which is strongly recommended by FEMP for use in performance contracts and relied on by federal agencies and others conducting performance contracts as an objective source for their projects’ escalation rates. This study investigated whether the rates prescribed by EERC (and a coarser NIST tool that preceded it) have provided users with estimates that approximate actual changes in energy prices over the years. The results are encouraging: the NIST tools slightly under-estimated actual electricity prices and somewhat over-estimated those for natural gas. Concern regarding the latter is mitigated, however, because a) it is seen as due primarily to the increasing surplus of natural gas from the “fracking revolution” in the 2010s, and b) natural gas savings were found to account for only 14.4% of the total savings from the largest population of federal ESPCs (FEMP’s indefinite quantity ESPC contract, representing roughly 430 projects), compared to almost four times that (56.8%) for electricity savings. Consequently, reliance on EERC appears to be a sound policy.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗
DOE OSTI2016

Revenue Opportunities through Ancillary Services for Nuclear Power Plants with Integrated Firebrick Resistance- Heated Energy Storage (FIRES)

Deregulation of electricity markets has brought about major changes in the ways investments in and operation of power plants are planned and optimized. Although many NPPs have seen reduced revenue in recent years as power purchase agreement end and wholesale market electricity prices have remained low, there are opportunities to expand the technical capabilities of NPPs, participate in additional market services and increase revenue. This transaction summarizes the opportunities provided by participation in ancillary services markets potentially made possible by integration of thermal energy storage capacity, specifically the Firebrick Resistance-heated Energy Storage System (FIRES), into future nuclear power plants with high-temperature reactors and Nuclear Air-Brayton combined cycle (NACC) power conversion. The restructuring, or deregulation, of electric power systems in most of Europe and North America has had a substantial impact on the economic performance of currently operating nuclear power plants (NPPs) and the prospects for new builds. Owners of NPPs in some markets have expressed concern that low wholesale electricity market prices and insufficient compensation for capacity, reliability, and other services are threatening the financial viability of their plants. However, both current and future NPPs have the potential to increase their competitiveness by increasing the flexibility of their electricity output. Flexible output has previously only been possible in water-cooled reactors through load-following operation, which requires core power maneuvers and operation of the steam turbine at reduced efficiency. Integration of thermal energy storage systems (TESS) provides an alternative, providing the plant the option to either output electricity or store heat for greater later electric output. The plant owner may thus increase sales of electricity during hours when it is most valuable. Even more, some TESS technologies have the potential to greatly increase the net ramp rate capability of the plant. The ability to rapidly change net power output to the grid may make it possible for NPPs to secure additional revenue by providing additional minute-by-minute balancing services to the grid. FIRES is only one technology out of many that might provide additional technical capabilities at NPPs, and this discussion has only highlighted the opportunities in a single market. Analysis of other options, include steam accumulator systems, nitrate salt TESS, phase change material TESS, and opportunities in other markets are subjects of ongoing work. Deregulation of electricity markets has brought about major changes in the ways investments in and operation of power plants are planned and optimized. Although many NPPs have seen reduced revenue in recent years as power purchase agreements end and wholesale market electricity prices have remained low, there are opportunities to expand the technical capabilities of NPPs, participate in additional market services, and increase revenue. (authors)

22 GENERAL STUDIES OF NUCLEAR REACTORS↗
DOE OSTI2016

fuel cycle cost analysis of Th/U MOX fuel in a block-type HTR - 18619

With a rapid development of nuclear energy in these years, the supply of nuclear fuel is becoming more and more important. Thorium regains attention because of its abundant reserves and excellent physical properties. As a next generation reactor, the high temperature reactor (HTR) is a promising choice for thorium utilization because of its deeper burnup, harder spectrum and better inherent safety. Therefore, a 600 MWth 108-column modular high temperature reactor (MHR) core model with 20%UO{sub 2}-80%ThO{sub 2}; MOX fuel is adapted. A traditional two-step calculation scheme, lattice calculation then core calculation, is used to get the neutronic performance of equilibrium cycle including uranium enrichment and mass of fuel. Using these data, the fuel cycle cost of HTR can be calculated by the levelized lifetime cost method. In order to take into account the variation of unit price, a well-established, standard statistical analysis technique is used by Monte Carlo simulation, (thus, the probability distribution of fuel cycle cost can be obtained. Furthermore, sensitivity calculations are made to analyze the impact on the fuel cycle cost of variations in the unit prices for each fuel cycle component. The result shows that the most influential parameters are unit price of natural uranium, enrichment and discount rate. Finally a comparison of fuel cycle cost between 100%UO{sub 2} and 20%UO{sub 2}-80%ThO{sub 2} MOX fuel is made. The latter is 11% cheaper than the former. (authors)

11 NUCLEAR FUEL CYCLE AND FUEL MATERIALS↗
DOE OSTI2017

An Evaluation of Energy Storage Options for Nuclear Power

The dynamics of energy generation, delivery, and consumption in the United States continue to change as new energy sources come online and consumers purchase more energy-intensive devices. The percentage of electricity generation from variable renewable energy sources like wind and solar power has grown year after year. Meanwhile, the evolution of electric vehicles, smart devices, and consumer appliances is changing the way that electricity is used. As a result of these trends, nuclear power plants (NPPs) are being asked to operate more flexibly. Newly constructed, advanced nuclear power plants (A-NPPs) will likely need to adapt their business models with these market shifts in mind. In the future, A-NPPs might operate in an electricity system that values flexibility (e.g. fast ramping) more than stability (e.g. baseload supply). The current fleet of NPPs is struggling to remain economically viable in competitive markets that favor low natural gas prices and renewable energy sources with low marginal costs. Rising construction costs and ambiguous national policies have only added to the challenges facing plant operators. The industry as a whole is in decline, with 19 reactors in the process of being decommissioned and 5 of these plants retiring in the past decade. However, NPPs also provide several performance and environmental benefits by maintaining a high capacity factor and generating almost zero greenhouse gas (GHG) emissions over the life cycle of the plant. As more areas of energy consumption in the United States are electrified, NPPs could potentially replace coal and natural gas as a source of heat and power to help decarbonize the U.S. energy mix. Improving the flexibility of newly constructed A-NPPs to increase revenue through market hedging and reduce costs via stable operation was explored in this analysis. The increasing penetration of variable energy resources could contribute to the uncertainty of electricity demand, which could in turn increase the need for dispatchable electricity generating units. This role is currently filled by inexpensive natural gas combined cycle (NGCC) plants, whereas coal and NPPs have traditionally been called upon to provide baseload power by maintaining a constant power output. As wholesale electricity prices continue to fall due to low natural gas prices and federally subsidized renewable energy, this business model has begun to fail, resulting in incidences of NPPs selling electricity at a loss. Since it has not been economically favorable for NPPs to operate flexibly in this situation in the past, due to their low variable costs compared to fossil fuel power plants, NPPs in the United States were not built with this purpose in mind. Therefore, legacy NPPs have had difficulty adapting to these shifting dynamics due to regulatory and technical constraints, coupled with a lack of meaningful experience. NPPs in France have operated in this manner for years, due to a much higher percentage of baseload generators and a lower percentage of fast-ramping NGCC plants. The integration of energy storage technologies (ESTs) alongside newly constructed A-NPPs will be investigated in this analysis as an alternative method for helping NPPs resolve the economic challenges they currently face. Although the deregulation of energy markets in the United States is responsible for much of the increased competition from natural gas and renewable energy that has negatively impacted NPPs, this process has also led to the creation of ancillary service markets. ESTs can provide many of these services, so an integrated energy storage system could supplement both the reliability of the electricity grid and the economic performance of a NPP by bidding into these markets. However, many technical, financial, and regulatory barriers still prevent ESTs from operating profitably in this space. The purpose of this body of work is to compile a transparent database of metrics for available ESTs and identify barriers to widespread deployment. An analytical selection methodology was also developed to identify favorable technologies for integration with specific NPPs based on information supplied by an interested developer. These tools could help reduce the perceived risk surrounding investment in energy storage systems, which could help both NPPs in need of economic assistance and ESTs in need of further research and development.

22 GENERAL STUDIES OF NUCLEAR REACTORS↗
DOE OSTI2017

Steam Accumulator Storage Integration into a Nuclear Power Plant

The growth of non-dispatchable renewables benefits technologies with flexible load capabilities. Baseload technologies must accept low prices and revenues during low-demand periods that arise with increasing frequency as renewables deployment grows. For this reason, generators such as combined cycle gas turbines threaten to out-compete baseload, and nuclear power plants are facing early retirement. If utilities are to consider future nuclear power plants to be attractive investments they must excel at roles other than baseload generation. Energy storage offers a means to avoid times of low prices and capitalize on times of high prices, as well as for nuclear to participate in ancillary markets and provide grid stability and regulation services. This paper explores the use of steam accumulators to store energy for a pressurized water reactor (PWR). The discharging steam from the accumulator provides heat to a feedwater heater, replacing steam, which bleeds off of the high-pressure turbine during normal operation. The utilization of the accumulator as a heat source for the feedwater heater increases the electrical power output of the PWR during discharge, as more electricity can be produced for a constant thermal input from the steam generator. This study first presents the proposed layout of the steam accumulator integrated into a PWR and the base case values used. Next a brief overview of the thermodynamic model governing the charging and discharging processes of the accumulator is presented. An economic model describes the capital cost estimation and revenue potential for the system. These models are evaluated at varying values of energy, power, and pipe lengths. Results show the relationship between energy, power, and accumulator size, and their effect on net annual revenue and storage efficiency. The cases presented here provide direction for future work for optimizing the size and power output of the accumulator.

22 GENERAL STUDIES OF NUCLEAR REACTORS↗
DOE OSTI2024

Modeling the Cost of Onshore CO2 Pipeline Transport and Onshore CO2 Saline Storage

This paper describes the FECM/NETL CO2 Transport Cost Model (CO2_T_COM), a technoeconomic model of CO2 transport by pipeline, and the FECM/NETL CO2 Saline Storage Cost Model (CO2_S_COM), a technoeconomic model of storage of CO2 in a deep, subsurface saline formation. The results of applying CO2_T_COM to calculate break-even CO2 prices to transport CO2 at different mass flow rates and different distances are presented. Similarly, CO2_S_COM is used to calculate the break-even CO2 price for storing CO2 in 314 potential storage formations across the US. These break-even prices are used to construct cost-supply curves for CO2 storage which are presented on a national and regional basis. CO2_T_COM and CO2_S_COM are the most comprehensive open source technoeconomic models available for analyzing CO2 pipeline transport and CO2 saline storage. To be presented at the SPE?AAPG/SEG Carbon Capture Utilization and Storage Conference in Houston, TX, March 11-13, 2024.

Morgan, David↗
DOE OSTI2018

EISA (Energy Independence and Security Act) compliant ethanol fuel from corn stover in a depot-based decentralized system

Cellulosic biofuels face significant problems of feedstock aggregation and logistics leading to poor economies of scale. The current model is based on relatively small biorefineries using locally-gathered feedstocks. Here, we examine the potential capacity of a hypothetically distributed, depot-based, biorefinery system to produce cellulosic ethanol from corn stover in the United States Midwest. The local depots serve to aggregate, pretreat and densify biomass (via pellets), which are collected, transported, and fed to a few very large, cellulosic ethanol biorefineries. We found that a corn stover-based depot system would help establish one or two very large-scale biorefineries capable of processing about 8-12% of total corn stover available in the United States Midwest. About 55-153 depots could supply the pretreated pellets to each distributed biorefinery leading to an annual production of 1.02 - 2.91 billion liters of cellulosic ethanol. Most of the participating depots would be located in Illinois and Iowa. The ethanol selling price in this depot-based biorefinery system would varys between U$S 0.67 and U$S 0.72 liter-1. The estimated range of GHG savings from cellulosic ethanol in the depot system compared to gasoline was 3.35-4.84 Tg CO2 year-1. In addition of being economically competitive, a distributed, depot-based, biorefinery system could meet the 60% GHG reduction requirement of the U.S. Energy Independence and Security Act (EISA).

Biorefinery, Cellulosic biofuel, Corn stover, Dist↗
DOE OSTI2021

AC Power Flow Based DLMP Calculation and Decomposition Method to Smooth Power Fluctuation of Distributed Renewable Energy Sources

As the penetration of renewable energy sources increases, the growing renewable power variability brings ramping issues to power systems. Meanwhile, the development of distributed energy resources (DERs) makes the distribution systems to provide both energy and ancillary services. To incentivise individual resources and customers to alleviate ramping issues on the demand side, a two-stage distribution locational marginal price (DLMP) calculation and decomposition method is developed to formulate the marginal power ramping price for DERs. In the first stage of the proposed method, a distribution system operator market scheduling model based on AC optimal power flow is designed to estimate the optimal operating point of the distribution system. Subsequently, the voltage and power flow constraints are linearised in stage two to calculate DLMP. Finally, based on the Lagrange function and sensitivity factors, DLMP is decomposed to the marginal costs for active/reactive power, voltage management, power loss and power variability. Case studies demonstrate that the proposed model can effectively smooth the power fluctuation and reduce the ramping flexibility requirements of distribution systems.

AC optimal power flow↗
DOE OSTI2012

Grid Parity for Residential Photovoltaics in the United States: Key Drivers and Sensitivities; Preprint

In this report, we analyze PV break-even costs for U.S. residential customers. We evaluate some key drivers of grid parity both regionally and over time. We also examine the impact of moving from flat to time-of-use (TOU) rates, and we evaluate individual components of the break-even cost, including effect of rate structure and various incentives. Finally, we examine how PV markets might evolveon a regional basis considering the sensitivity of the break-even cost to four major drivers: technical performance, financing parameters, electricity prices and rates, and policies. We find that electricity price rather than technical parameters are in general the key drivers of the break-even cost of PV. Additionally, this analysis provides insight about the potential viability of PV markets.

14 SOLAR ENERGY↗
DOE OSTI2016

Economic implications of incorporating emission controls to mitigate air pollutants emitted from a modeled hydrocarbon-fuel biorefinery in the United States

The implementation of the US Renewable Fuel Standard is expected to increase the construction and operation of new biofuel facilities. Allowing this industry to grow without adversely affecting air quality is an important sustainability goal sought by multiple stakeholders. However, little is known about how the emission controls potentially required to comply with air quality regulations might impact biorefinery cost and deployment strategies such as siting and sizing. In this study, we use a baseline design for a lignocellulosic hydrocarbon biofuel production process to assess how the integration of emission controls impacts the minimum fuel selling price (MFSP) of the biofuel produced. We evaluate the change in MFSP for two cases as compared to the baseline design by incorporating (i) emission controls that ensure compliance with applicable federal air regulations and (ii) advanced control options that could be used to achieve potential best available control technology (BACT) emission limits. Our results indicate that compliance with federal air regulations can be achieved with minimal impact on biofuel cost (~$0.02 per gasoline gallon equivalent (GGE) higher than the baseline price of $5.10 GGE -1 ). However, if air emissions must be further reduced to meet potential BACT emission limits, the cost could increase nontrivially. For example, the MFSP could increase to $5.50 GGE -1 by adopting advanced emission controls to meet potential boiler BACT limits. Finally, given tradeoffs among emission control costs, permitting requirements, and economies of scale, these results could help inform decisions about biorefinery siting and sizing and mitigate risks associated with air permitting.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗
DOE OSTI2011

Insider Models with Finite Utility in Markets with Jumps

In this article we consider, under a Levy process model for the stock price, the utility optimization problem for an insider agent whose additional information is the final price of the stock blurred with an additional independent noise which vanishes as the final time approaches. Our main interest is establishing conditions under which the utility of the insider is finite. Mathematically, the problem entails the study of a 'progressive' enlargement of filtration with respect to random measures. We study the jump structure of the process which leads to the conclusion that in most cases the utility of the insider is finite and his optimal portfolio is bounded. This can be explained financially by the high risks involved in models with jumps.

97 MATHEMATICS AND COMPUTING↗