Evaluation of the utilization of electric vehicles for building energy management in hotels

Governments are working in new policies to slow down total energy consumption and greenhouse gases (GHG) emissions, promoting the deployment of electric vehicles (EVs) in all countries. In order to facilitate this deployment and help to reduce the final costs of their batteries, additional utilization of EVs when those are parked has been proposed. EVs can be used to minimize the total electricity cost of buildings (named vehicle to building applications, V2B). In this paper an economic evaluation of EVs in the Building Energy Management System is shown. The optimal storage capacity and its equivalent number of EVs are determined. This value is then used for determining the optimal charging schedule to be applied to the batteries. From this schedule, the total expected profit is derived for the case of a real hotel in Spain.

Optimización de la metodología de contratación de carbones térmicos con destino a la generación eléctrica

En los últimos quince años se ha producido una liberalización de los mercados eléctricos en los distintos países de ámbito occidental que ha ido acompañado de un incremento por la preocupación por la incidencia de las distintas tecnologías de generación en el entorno medioambiental. Ello se ha traducido en la aparición de un marco regulatorio más restrictivo sobre las tecnologías de generación fósiles, con mayor incidencia en las derivadas de productos petrolíferos y carbón. A nivel mundial han ido apareciendo cambios normativos relativos a las emisiones de distintos elementos contaminantes (CO2, SO2, NOx…), que hacen que en particular las centrales térmicas de carbón vean muy afectadas su rentabilidad y funcionamiento. Esta situación ha supuesto que la tecnología de generación eléctrica con carbón haya avanzado considerablemente en los últimos años (calderas supercríticas, sistemas de desulfuración, gasificación del carbón…). No obstante, el desarrollo de la generación con energías renovables, la generación con gas mediante centrales de ciclo combinado y la opinión social relativa a la generación con carbón, principalmente en Europa, suponen un serio obstáculo a la generación con carbón. Por consiguiente, se hace necesario buscar vías para optimizar la competitividad de las centrales de carbón y el camino más razonable es mejorar el margen esperado de estas plantas y en particular el coste de adquisición del carbón. Ello se hace aún más importante por el hecho de existir numerosas centrales de carbón y un elevado número de nuevos proyectos constructivos de centrales de carbón en países asiáticos. Por consiguiente, el objeto de la presente tesis doctoral se centra en definir una metodología para optimizar la compra de carbón, desde el punto de vista económico y técnico, con destino a su consumo en una central térmica, con ello reducir el coste del carbón consumido y mejorar su competitividad. También se enfoca a determinar que herramientas pueden ser utilizadas para optimizar la gestión del carbón después de su compra y con ello abrir la posibilidad de obtener márgenes adicionales para dicho carbón. De acuerdo con este objetivo, el autor de la presente Tesis Doctoral realiza tres aportaciones novedosas en el ámbito de la contratación de carbón térmico y su optimización posterior: - Evaluación de carbones para su adquisición considerando el efecto de la calidad del carbón en el coste de generación asociado a cada carbón ofertado. - Creación, desarrollo, implantación y utilización de una potente herramienta de planificación de Combustibles. Esta herramienta, está diseñada con el objeto de determinar la solución económica óptima de aprovisionamientos, consumos y niveles de existencias para un parque de generación con centrales de carbón y fuelóleo. - La extensión de una metodología contractual habitual en el mercado spot de Gas Natural Licuado, a la contratación spot de Carbón de Importación. Esta se basa en el desarrollo de Acuerdos Marcos de Compra/Venta de carbón, que por su flexibilidad permitan obtener resultados económicos adicionales después de la compra de un carbón. Abstract In the last fifteen years, a liberalization of the electrical markets has occurred in the western countries. This process has been accompanied by an increasing concern of the impact of the different generation technologies towards the environment. This has motivated a regulated framework restricting the use of fossil fuels, impacting a great deal in coal and oil based products. Worldwide, new legal changes have been arising related to the emissions of the different pollutants (CO2, SO2, NOx…). These changes have had a deep impact in the feasibility, profit and running of coal fired power plants. This situation has motivated the coal electrical generation technologies to move forward in an important way in the last few years (supercritical furnaces, desulphuration plants, coal gasification…). Nevertheless, the development of the renewable generation, the gas combined cycle generation and the social opinion related to the coal electrical generation, mainly in Europe, have created a serious obstacle to the generation of electricity by coal. Therefore it is necessary to look for new paths in order to optimize the competitiveness of the coal fired power plants and the most reasonable way is to improve the expected margin of these plants and particularly the coal purchase cost. All of the above needs to be taken into context with the large number of existing coal fired power plants and an important number of new projects in Asian countries. Therefore, the goal of the current doctoral dissertation is focused to define a methodology to be considered in order to optimize the coal purchase, from an economical and a technical point of view. This coal, destined for power plant consumption, permits the reduction of consumption coal cost and improves the plant’s competitiveness. This document is also focused to define what tools we can use to optimize the coal management after deal closing and therefore open the possibility to get further margins. According to this goal, the author of this doctoral dissertation provides three important new ideas in the ambit of contracting steam coal and the posterior optimization: - Evaluation of coal purchases, considering the effect of coal quality on the cost of generation associated with each type of coal offered. - The creation, development, deployment and use of a strong planning tool of fuels. This tool is designed for the purpose of determining the optimal economic solution of fuel supply, consumption and stock levels for a power generation portfolio using coal and fuel oil fired power plants. - The application of a common contractual methodology in the spot market of Liquid Natural Gas, for the contracting spot imported coal. This is based on the development of Framework Agreements for the Purchasing / Sale of coal, which because of its flexibility allows for the gain of additional financial results after the purchase of coal.

Human midbrain precursors activate the expected developmental genetic program and differentiate long-term to functional A9 dopamine neurons in vitro. Enhancement by Bcl-XL

Understanding the molecular programs of the generation of human dopaminergic neurons (DAn) from their ventral mesencephalic (VM) precursors is of key importance for basic studies, progress in cell therapy, drug screening and pharmacology in the context of Parkinson's disease. The nature of human DAn precursors in vitro is poorly understood, their properties unstable, and their availability highly limited. Here we present positive evidence that human VM precursors retaining their genuine properties and long-term capacity to generate A9 type Substantia nigra human DAn (hVM1 model cell line) can be propagated in culture. During a one month differentiation, these cells activate all key genes needed to progress from pro-neural and prodopaminergic precursors to mature and functional DAn. For the first time, we demonstrate that gene cascades are correctly activated during differentiation, resulting in the generation of mature DAn. These DAn have morphological and functional properties undistinguishable from those generated by VM primary neuronal cultures. In addition, we have found that the forced expression of Bcl-XL induces an increase in the expression of key developmental genes (MSX1, NGN2), maintenance of PITX3 expression temporal profile, and also enhances genes involved in DAn long-term function, maintenance and survival (EN1, LMX1B, NURR1 and PITX3). As a result, Bcl-XL anticipates and enhances DAn generation.

International for-profit investiments in microfinance institutions equity

In recent years international investors are increasing the focus on the social consequences of their investments along with its financial returns. The microfinance sector, considered as an asset class is a relatively young concept but the microfinance industry is experiencing a tremendous growth and has a high potential for the future. Today most social responsible investments in microfinance are performed through loans or fixed income structured finance vehicles. The possibilities to invest in the equity tranche of the industry are still scarce since the number of listed microfinance institutions is reduced and the private equity investments are limited and difficult to reach for the majority of investors. In this document we present a study on the characteristics of the MFIs and we try to shed some light on this subsector of the equity assets universe that may become important in the coming future. Keywords: Microfinance institutions, Micro-credits, Financial Institutions, Equity; Stock Exchange

International For-Profit Investments in Microfinance Institutions Equity

Purpose: The purpose of this document is to review the funding options for Microfinance Institutions (MFIs), define the size of the holdings of international investors in MFI equity and in particular the MFIs listed in stock exchanges, analyze the characteristics of these subset of the financial world and study the stock exchange evolution of some listed MFIs amid the financial crisis. Design/methodology/approach: Since academic literature on listed MFI equity is virtually inexistent, most of the information has been obtained from the World Bank, annual accounts of the listed MFIs, stock exchanges and from equity research documents. Findings and Originality/value: Microfinance Institutions share several common characteristics that make them a resilient business and the few MFIs that are listed in stock exchanges seem to have performed better in the financial crisis. Microfinance can be considered as one of the new frontiers of the expansion of the global banking industry. Practical implications: Presently, international for-profit investors have very few ways of investing in microfinance equity. Most of the equity of the MFI equity is funded locally or thanks to the local public sector. The stock exchange listing of the MFIs should drive MFIs towards a more professional management, more transparency and better governance. Social implications: Microfinance Institutions provide credit to microenterprises in poor countries that have no other alternative sources of external capital to expand its activity. If global investors could easily invest in the listed equity of the MFIs these institutions would expand its lending books and would improve its governance, part of the population living in poor areas or with lower income could ameliorate its standard of living. Originality/value: The number of Microfinance Institutions that are professionally run like commercial banks is still scarce and even more scarce are the MFI listed in public stock exchanges. Therefore the published literature on the characteristics and performance of the listed equity of the Microfinance Institutions is extremely reduced. But microfinance assets are rapidly growing and MFIs will need to list their equity in stock exchanges to sustain this expansion.

Greenfield shopping center development. The integration between environmental features, building design and investment analysis at the decision making stage

The Shopping centre is a long term investment in which Greenfield development decisions are often taken based on risks analysis regarding construction costs, location, competition, market and an expected DCF. Furthermore, integration between the building design, project planning, operational costs and investment analysis is not entirely considered by the investor at the decision making stage. The absence of such information tends to produce certain negative impacts on the future running costs and annual maintenance of the building, especially on energy demand and other occupancy expenses paid by the tenants to the landlord. From the investor´s point of view, this blind spot in strategy development will possibly decrease their profit margin as changes in the occupancy expenses[ ] have a direct outcome on the profit margin. In order to try to reduce some higher operating cost components such as energy use and other utility savings as well as their CO2 emissions, quite a few income properties worldwide have some type of environmental label such as BREEAM and LEED. The drawback identified in this labelling is that usually the investments required to get an ecolabel are high and the investor finds no direct evidence that it increases market value. However there is research on certified commercial properties (especially offices) that shows better performance in terms of occupancy rate and rental cost (Warren-Myers, 2012). Additionally, Sayce (2013) says that the certification only provides a quick reference point i.e. the lack of a certificate does not indicate that a building is not sustainable or efficient. Based on the issues described above, this research compares important components of the development stages such as investments costs, concept/ strategy development as well as the current investor income and property value. The subjects for this analysis are a shopping centre designed with passive cooling/bioclimatic strategies evaluated at the decision making stage, a certified regional shopping centre and a non-certified standard regional shopping centre. Moreover, the proposal intends to provide decision makers with some tools for linking green design features to the investment analysis in order to optimize the decision making process when looking into cost savings and design quality.

Assessment of expected damage on buildings subjected to Lorca earthquake through an energy-based seismic index method and nonlinear dynamic response analyses

The city of Lorca (Spain) was hit on May 11th, 2011, by two consecutive earth-quakes of magnitudes 4.6 and 5.2 Mw, causing casualties and important damage in buildings. Many of the damaged structures were reinforced concrete frames with wide beams. This study quantifies the expected level of damage on this structural type in the case of the Lorca earth-quake by means of a seismic index Iv that compares the energy input by the earthquake with the energy absorption/dissipation capacity of the structure. The prototype frames investigated represent structures designed in two time periods (1994–2002 and 2003–2008), in which the applicable codes were different. The influence of the masonry infill walls and the proneness of the frames to concentrate damage in a given story were further investigated through nonlinear dynamic response analyses. It is found that (1) the seismic index method predicts levels of damage that range from moderate/severe to complete collapse; this prediction is consistent with the observed damage; (2) the presence of masonry infill walls makes the structure very prone to damage concentration and reduces the overall seismic capacity of the building; and (3) a proper hierarchy of strength between beams and columns that guarantees the formation of a strong column-weak beam mechanism (as prescribed by seismic codes), as well as the adoption of counter-measures to avoid the negative interaction between non-structural infill walls and the main frame, would have reduced the level of damage from Iv=1 (collapse) to about Iv=0.5 (moderate/severe damage)

The Imaging and Slitless Spectroscopy Instrument for Surveys (ISSIS): expected radiometric performance, operation modes and data handling

ISSIS is the instrument for imaging and slitless spectroscopy on-board WSO-UV. In this article, a detailed comparison between ISSIS expected radiometric performance and other ultraviolet instruments is shown. In addition, we present preliminary information on the performance verification tests and on the foreseen procedures for in-flight operation and data handling.

Brown trout thermal niche and climate change: expected changes in the distribution of cold-water fish in central Spain

This paper addresses the determination of the realized thermal niche and the effects of climate change on the range distribution of two brown trout populations inhabiting two streams in the Duero River basin (Iberian Peninsula) at the edge of the natural distribution area of this species. For reaching these goals, new methodological developments were applied to improve reliability of forecasts. Water temperature data were collected using 11 thermographs located along the altitudinal gradient, and they were used to model the relationship between stream temperature and air temperature along the river continuum. Trout abundance was studied using electrofishing at 37 sites to determine the current distribution. The RCP4.5 and RCP8.5 change scenarios adopted by the International Panel of Climate Change for its Fifth Assessment Report were used for simulations and local downscaling in this study. We found more reliable results using the daily mean stream temperature than maximum daily temperature and their respective seven days moving-average to determine the distribution thresholds. Thereby, the observed limits of the summer distribution of brown trout were linked to thresholds between 18.1ºC and 18.7ºC. These temperatures characterise a realised thermal niche narrower than the physiological thermal range. In the most unfavourable climate change scenario, the thermal habitat loss of brown trout increased to 38% (Cega stream) and 11% (Pirón stream) in the upstream direction at the end of the century; however, at the Cega stream, the range reduction could reach 56% due to the effect of a ?warm-window? opening in the piedmont reach.