An exploratory study of the utilisation of the UK's Prudential Borrowing Framework

This article considers the utilisation of the UK’s Prudential Borrowing Framework (PBF) and the associated Prudential Code for local government capital finance. It finds that the increased flexibility and local freedom are at the cost of less financial certainty in terms of the risks borne by local authorities and local tax payers. The PBF seems to encourage a less formal approach to risk, being considered inevitable and handled if and when adverse risk outcomes occur. Consequently capital projects may lack affordability, sustainability and prudence. The Prudential Indicators required by the Code are not easily understood by non-specialists and their calculation cannot be used to replace sound judgement or to identify the best financing option.

The UK's Prudential borrowing framework:a retrograde step in managing risk?

The contemporary understanding of public sector risk management entails a broadening of the traditional bureaucratic approach to risk beyond the boundaries of purely financial risks. However, evidence suggests that in reality public sector risk management does not always match the rhetoric. This paper focuses on the apparent inadequacy of any risk framework in the current Prudential Borrowing Framework (PBF) guidance in relation to that which was developed under Public Private Partnerships and Private Finance Initiative (PFI). Our analysis shows that the PBF and its associated indicators for local authorities adopt a narrow financial approach and fail to account for the full range of potential risks associated with capital projects. The PBF does not provide a framework for local authorities to consider long-term risk and fails to encourage understanding of the generic nature of risk. The introduction of the PBF appears to represent a retrograde step from PPP/PFI as regards risk and risk management.

The development of a solar wall module using a selective surface

A need was indicated for the identification of a possible new solar energy product to improve the sales potential of a metal film with a selective surface, manufactured by the industriaI sponsor of this project (INCO). A possible way of overcoming the disadvantageous economics of solar energy collection was identified. This utilised the collection of solar energy by the walls of buildings constructed in such a manner as to allow the transfer of energy into the building, whilst providing adequate thermal insulation in the absence of sunlight. The actual collection element of the wall, being metallic, is also capable of performing the function of a low temperature heating .system in the absence of sunlight. As a result of this, the proposed system, by displacing both the wall and centraI heating system which would otherwise be necessary, demonstrates economic benefits over systems which are constructed solely for the purpose of collecting solar energy. The necessary thermodynamic and meteorological. characteristics and data: are established, and applied to a typical urban site in the North of England, for a typical average year, with and without a shading device incorporated into the construction. It is concluded that the proposed system may offer considerable benefit in reducing the effective heating season in all orientations of wall.

Control integrated finite state machine design for photovoltaic module integrated converter

The operation state of photovoltaic Module Integrated Converter (MIC) is subjected to change due to different source and load conditions, while state-swap is usually implemented with flow chart based sequential controller in the past research. In this paper, the signatures for different operational states are evaluated and investigated, which lead to an effective control integrated finite state machine (CIFSM), providing real-time state-swap as fast as the local control loop. The proposed CIFSM is implemented digitally for a boost type MIC prototype and tested under a variety of load and source conditions. The test results prove the effectiveness of the proposed CIFSM design.

Gender, borrowing patterns and self-employment:some evidence for England

The purpose of this paper is twofold. First, we try to identify whether women have different borrowing patterns from men when trying to get into self-employment along with the factors that explain these different propensities. Second, we try to quantify the impact of these differences in borrowing propensity on women's willingness to become self-employed. The empirical analysis is carried out on a sample of individuals drawn from the English Household Survey of Entrepreneurship, 2003. Our results show that (1) women are less likely than men to seek external finance and that (2) gender differences in access to finance are affecting adversely the transition into self-employment. © 2010 Springer Science+Business Media, LLC.

Identifying PV module mismatch faults by a thermography-based temperature distribution analysis

Photovoltaic (PV) solar power generation is proven to be effective and sustainable but is currently hampered by relatively high costs and low conversion efficiency. This paper addresses both issues by presenting a low-cost and efficient temperature distribution analysis for identifying PV module mismatch faults by thermography. Mismatch faults reduce the power output and cause potential damage to PV cells. This paper first defines three fault categories in terms of fault levels, which lead to different terminal characteristics of the PV modules. The investigation of three faults is also conducted analytically and experimentally, and maintenance suggestions are also provided for different fault types. The proposed methodology is developed to combine the electrical and thermal characteristics of PV cells subjected to different fault mechanisms through simulation and experimental tests. Furthermore, the fault diagnosis method can be incorporated into the maximum power point tracking schemes to shift the operating point of the PV string. The developed technology has improved over the existing ones in locating the faulty cell by a thermal camera, providing a remedial measure, and maximizing the power output under faulty conditions.