Economic Modeling for the Renewable Energy Support


This paper presents a general economic modification for the present energy strategy. This modification is unidirectional economic concept depending on three principles. The paper explains shortly the basics of engineering connections between renewable energy stations and the traditional electric power networks, illustrating the technical rules while the economical base has been accounted with time consideration. Converting stations and rectification principles are priced, simply. Also, the cost comparison may be noted in order to find the best quick way for development. The proposed support depends on three axes as the technical (direct current distribution systems), financial banking, and industrial activity. This leads to a concentration in the manufactured equipments and devices to be capable for encourage the application of direct current operation. The tools and devices in the electric systems of cars may be the first key for the technical implementation as a stable actual market in the world so that the industrial axis would lead to the commercial use with a reduced price for each component due to the high growth in mass production. It is concluded that, the proposed philosophy can be introduced on the basis of government support through electric and industrial companies besides governmental banks. Also, encourage policy for private investment sectors in marketing and financial authorities may be needed where a simple economic model is illustrated. This is an economic differential solution since it accounts the price ratio for the aimed target.

Share and Cite:

Nada, S. and Hamed, M. (2015) Economic Modeling for the Renewable Energy Support. Open Access Library Journal, 2, 1-16. doi: 10.4236/oalib.1101360.

Conflicts of Interest

The authors declare no conflicts of interest.


[1] Feng, Y.X., Goerner, K., Cheng, G. and Wang, J. (2011) Influence of Catalyst and Temperature on Gasification Performance by Externally Heated Gasifier. Smart Grid and Renewable Energy, 2, 177-183.
[2] Zaki, G.M., Jassim, R.K. and Alhazmy, M.M. (2011) Energy, Energy and Thermo Economics Analysis of Water Chiller Cooler for Gas Turbines Intake Air Cooling. Smart Grid and Renewable Energy, 2, 190-205.
[3] Fernald, K.D.S., Weenen, T.C., Sibley, K.J. and Claassen, E. (2013) Limits of Biotechnological Innovation. Technology and Investment, 4, 145-212.
[4] Gao, Y. and Razak bin Chik, A. (2013) A Multiple Regression Analysis on Influencing Factors of Urban Services Growth in China. Technology and Investment, 4, 1-82.
[5] Tang, S. (2011) Traffic Modeling of a Finite-Source Power Line Communication Network. Smart Grid and Renewable Energy, 2, 261-270.
[6] Phat, N.T. (2012) Challenges of Energy Security to the Industrialization and Sustainable Development in Vietnam. Technology and Investment, 3, 129-202.
[7] Arslan, B. and Ozturan, M. (2011) The Path to Information Technology Business Value: Case of Turkey. Technology and Investment, 2, 52-63.
[8] Khan, S. and Islam, A. (2011) Performance Analysis of Solar Water Heater. Smart Grid and Renewable Energy, 2, 396-398.
[9] Derouiche, H., et al. (2011) The Effect of Energy Levels of the Electron Acceptor Materials Organic Photovoltaic Cells. Smart Grid and Renewable Energy, 2, 278-281.
[10] Mandal, K.K. and Chakraborty, N. (2011) Optimal Scheduling of Cascaded Hydrothermal Systems Using a New Improved Particle Swarm Optimization Technique. Smart Grid and Renewable Energy, 2, 282-292.
[11] Seacord, R.C., Dorman, W., McCurtey, J., Miller, P., Stoddard, R., Svoboda, D. and Welch, J. (2010) Source Code Analysis Laboratory (SCALe) for Energy Delivery Systems.
[12] Dwivedi, G., Jain, S. and Pal Sharma, M. (2011) Pongamia as a Source of Biodiesel in India. Smart Grid and Renewable Energy, 2, 184-189.
[13] Gomes, J.F.P. and Cardoso, P.M. (2011) Notice on a Case Study on the Utilization of Wind Energy Potential on a Remote and Isolated Small Wastewater Treatment Plant. Smart Grid and Renewable Energy, 2, 293-299.
[14] Ramirez, J.M. (2011) Embedding PV and WF Models into Steady State Studies by an Optimization Strategy. Smart Grid and Renewable Energy, 2, 245-254.
[15] Hidayatullah, N., Stojcevski, B. and Kalam, A. (2011) Analysis of Distributed Generation Systems, Smart Grid Technologies and Future Motivators Influencing Change in the Electricity Sector. Smart Grid and Renewable Energy, 2, 216-229.
[16] Saleh, M.A.H. and Eskander, M.N. (2011) Sizing of Converters Interfacing the Rotor of Wind Driven DFIG to the Power Grid. Smart Grid and Renewable Energy, 2, 300-304.
[17] Wanxin, W. and Zequn, G. (2013) A Localization of Solow Growth Model with Labor Growth Pattern in China. Technology and Investment, 4, 24-26.
[18] Juraj, P., Ivan, B., Zuzana, Č. and Marian, R. (2013) Portfolio Selection by Maximizing Omega Function Using Differential Evolution. Technology and Investment, 4, 73-77.
[19] Varga, A., Hoau-Horváth, O., Szabó1, N. and Járosi, P. (2013) Blue Economy Innovation Impact Assessment with the GMR-Europe Model. Technology and Investment, 4, 213-223.
[20] Broll, U., Wong, W.K. and Wu, M. (2011) Banking Firm, Risk of Investment and Derivatives. Technology and Investment, 2, 222-227.
[21] Baranes, E. and Vuong, C.H. (2011) Ex-Ante Asymmetric Regulation and Retail Market Competition: Evidence from Europe’s Mobile Industry. Technology and Investment, 2, 301-310.

Copyright © 2023 by authors and Scientific Research Publishing Inc.

Creative Commons License

This work and the related PDF file are licensed under a Creative Commons Attribution 4.0 International License.