Optimization of energy production using renewable in Sweden

Bc. Giri Prasad Kandel

Master's thesis

Abstract:

This paper deals with the Optimization of energy production using renewables in Sweden. It examines from 1995 to 2015, and this period has been chosen because on this period the development of renewable energy sources is very significant. The core objective of the research is to prove that, CO2e emissions and GDP has significant opposite relationship. Energy is vital to economic progress, but the modern universal population increase that demands more energy produced from predictable exhaustible resources, an energy price expansion, and environmental fears, risks sustainable economic growth. However, switching to renewable energy twisted from naturally restocked resources encourages energy security, similarly addressing matters such as global warming and climate change. This paper aims at discovering the influence and fundamental relation among renewable energy. Also, this paper tells about CO2e emissions and GDP growths with the help of different renewable energy resources. The simplex method has been used to find out the cost minimization problem which tells us to figure out the optimal solution. The results provide support for a positive influence of renewable energy overall, as well as by type, specifically hydropower, Nuclear energy, wind power, solar energy, and others on gross domestic product per capita in Sweden. Even so, Hydroelectricity shows the highest influence on economic growth among the rest of renewable energy types in Sweden. Last but not in the least, the diploma thesis optimizes the current renewable energy mix by using linear programming and recommends the optimal ratio of the carefully chosen energy sources both from an economic perspective and an environmental perspective.

Keywords

Sweden, Renewable energy resources, Energy Production Sweden, Optimization, Simplex method, Kaya Identity, CO2 emissions, Hydroelectricity, Solar power generation, Nuclear energy, Wind energy generation

Language used: English

Date on which the thesis was submitted / produced: 28. 3. 2019

Thesis defence

• Supervisor: Ing. Petr Procházka, MSc Ph.D.

Czech University of Life Sciences Prague

Faculty of Economics and Management

Master programme / field:
Economics and Management / Economics and Management