Azerbaijan International University

As the global energy sector transitions toward sustainability, integrating variable renewable energy sources (VRES) such as wind and solar power poses challenges due to their intermittent nature. Energy storage systems (ESS) are essential for mitigating these fluctuations by storing excess energy and discharging it during peak demand. This study explores how market structure and investor incentives influence ESS deployment through a bi-level optimization model. The hypothesis suggests that market competition has a greater impact on optimal storage investments than investor objectives, as consumer welfare gains often exceed those of investors. The model contrasts a welfare-maximizing entity with a profit-driven independent investor while incorporating Cournot oligopoly and perfect competition market dynamics. A numerical case study based on the Western European power market reveals that under perfect competition, ESS investments increase social welfare by 7.06 million, reducing grid costs and benefiting consumers, while in Cournot oligopoly conditions, the welfare gain is significantly lower at only 0.68 million. Moreover, strategic investments in France, Belgium, and Germany (300 MWh) lead to a 4 % reduction in grid revenue, demonstrating the influence of storage on market efficiency. Results indicate that market power distorts ESS investments, potentially leading to suboptimal or excessive expenditures, reinforcing the need for regulatory measures. The findings emphasize that policymakers must align private investment incentives with societal welfare objectives through targeted subsidies, competition frameworks, and market regulations to ensure ESS investments enhance grid stability, renewable integration, and consumer benefits.

Private Natural Heritage Reserves (PNHRs) in Brazil are increasingly viewed as decentralized instruments for sustainability governance, yet their function as territorial indicators of socio-environmental performance remains underexplored. This study investigates the extent to which PNHRs can serve as localized barometers of sustainability, with an emphasis on the environmental functions and socio-economic engagements that reflect core principles of the 2030 Agenda. Drawing on spatial and categorical assessment techniques across varying biomes and governance types, the research identifies patterns in reserve-level management behaviors that correspond with strategic sustainability targets, including watershed protection, biodiversity maintenance, and health-related ecosystem services. Through a comparative analysis of motivations, usage profiles, and governance models, the study finds that PNHRs provide a functional interface between conservation practice and sustainable development imperatives—operating as both custodians of ecological integrity and enablers of human well-being. These findings support the recognition of PNHRs as embedded, place-based systems capable of indicating progress in integrated conservation-development efforts and inform policy on enhancing their strategic role in sustainability monitoring and territorial planning.

The growing demand for sustainable energy in urban housing necessitates integrating battery energy storage, hydrogen storage, and solar photovoltaic (PV) systems. This study conducts a techno-economic analysis to optimize microgrid designs, focusing on cost efficiency, reliability, and sustainability. Three dispatch strategies-load following, cycle charging, and combination dispatch-are evaluated. Results indicate that a gridconnected PV system with cycle charging achieves the lowest net present cost ($51,809) and energy cost ($0.0171/kWh) but has high carbon emissions (38,226 kg/year). In contrast, a hydrogen-based microgrid reduces emissions by 11.54 % while enhancing energy independence. The findings highlight the trade-offs between cost-effectiveness and sustainability, providing a framework for policymakers and urban planners to design efficient and low-carbon energy solutions. This study offers practical insights into optimizing renewable energy investments for urban real estate development.

The current landscape of wind-generated electricity exhibits significant variability, rendering it inadequate for reliable baseload power generation. This study presents a comprehensive technical and economic analysis of Wind Thermal Energy Systems (WTES). This innovative approach employs electromagnetic induction heating for direct thermal conversion, molten salt storage, and steam turbine electricity generation. The WTES system operates through electromagnetic heat generation, achieving 94-97 % conversion efficiency, molten salt circulation at 290-565 degrees C, and dual-tank thermal storage, providing a 6-72 h duration capability. Economic analysis using the standardized Levelized Cost of Energy (LCOE) methodology demonstrates significant WTES advantages: $0.071/kWh compared to $0.095/kWh for wind-battery systems and $0.083/kWh for wind-thermal backup under base-case conditions. Economic advantages increase with storage duration: 25 % at 12 h, 38 % at 24 h, and 45 % at 48 h, due to the linear scaling of thermal storage costs versus the exponential scaling of battery costs. Life cycle assessment reveals superior environmental performance, with greenhouse gas emissions of 15-22 g CO2-eq/kWh for WTES, compared to 45-65 g CO2-eq/kWh for battery systems. This is achieved through the use of 99 % recyclable molten salt media and the elimination of critical materials. Grid integration analysis demonstrates energy arbitrage capabilities over 6-72 h, with a 95 % capacity credit and a 25-30 % reduction in wind curtailment, while acknowledging limitations of 15-30 s in response time. WTES represents a paradigm shift toward integrated renewable energy solutions, offering superior long-duration storage economics, enhanced environmental sustainability, and significant opportunities for industrial process heat integration, thereby accelerating renewable energy adoption.

Bank capital management plays a crucial role in guaranteeing financial stability, particularly in emerging and frontier markets, where economic volatility, regulatory constraints, and financial market underdevelopment present significant challenges. This study aims to conduct a bibliometric analysis to explore investigation trends, emerging themes, and regional disparities in bank capital management. The research methodology includes a systematic review of 1,031 relevant documents from the Scopus database, analyzed using VOSviewer and Biblioshiny to visualize and assess the evolution of academic discourse. The findings reveal that research on bank capital management has grown significantly since the 1980s, with a mean annual growth rate of 26.2%, particularly following financial crises. Most publications originate from the USA, UK, India, China, and Australia, with key contributions from institutions like the IMF and the World Bank. Thematic analysis shows a shift from broad economic and financial studies towards specialized topics like digital banking, fintech, and capital structure adjustments. Co-authorship and citation analysis highlight strong academic collaboration, particularly within Southeast Asia and Anglo-American networks. Despite the growth in literature, significant research gaps persist. There is a lack of comprehensive studies on African and Latin American banking systems, with a predominant focus on Asian emerging markets. While risk management and regulatory compliance remain central themes, empirical research on capital structure adjustment, particularly the speed at which banks adapt to Basel III requirements, remains fragmented. Additionally, climate-related financial risks and sustainable finance are underexplored areas despite their growing importance in global banking stability.