Teresa Pakulska

Bio: Teresa Pakulska is an academic researcher. The author has contributed to research in topics: Medicine & Renewable energy. The author has an hindex of 1, co-authored 1 publications receiving 9 citations.

Green Energy in Central and Eastern European (CEE) Countries: New Challenges on the Path to Sustainable Development

Abstract: In the conditions of climate change and the scarcity of natural resources, the future of energy is increasingly associated with the development of the so-called green energy. Its development is reflected in the European Commission strategic vision to transition to a climate-neutral economy. This is a challenge that the Central and Eastern European (CEE) countries, members of the EU, are also trying to meet. In recent years, these countries have seen an increase in the share of renewable energy and a reduction in greenhouse gas emissions (GGE). On the other hand, basing the energy sector on unstable energy sources (photovoltaics and wind technologies) may imply new challenges on the way to sustainable development. These are old problems in a new version (ecology, diversification of supplies) and new ones related to the features of renewable energy sources (RES; instability, dispersion). The aim of the article was to classify, on the basis of taxonomic methods, the CEE countries from the point of view of green energy transformation (original indicator) and to predict new threats to Romania, Poland, and Bulgaria, the countries representing different groups according to the applied classification. The issues presented are part of a holistic view of RES and can be useful in energy policy.

Digitalization in the Renewable Energy Sector—New Market Players

Abstract: Under the conditions of climate change and energy crisis stemming from the COVID-19 pandemic and the embargo on the supply of raw materials from Russia, high hopes are attached to the development of renewable energy in terms of meeting energy needs. Still, renewable energy has some drawbacks too. In the most dynamically growing solar and wind energy industries, the main problems that are indicated include this energy storage and ensuring the security of supplies. These are supposed to be solved by the digital transformation of renewable power generation plus the entry of market players that implement digital business models in renewable energy. The purpose of the article is to identify a framework “digital compass” of business models in renewable energy within a group of solar and wind energy start-ups, operating in energy storage and supply industries. At the base of this study there were: digital technologies, customer orientation, delivery of value and revenue stream. The research algorithm applied here enabled the identification and classification of startup business models based on secondary data using R software. The results show that the identified startups implement digital business models to a minor extent. Startups dealing with solar energy storage stand out in a quite positive manner. The low digital attractiveness of investing in wind energy storage and supply (which, to a smaller extent applies to solar energy), is also indicated the investment preferences of big-tech. Thus, the future of the digital transformation of these industries should be related to regulatory changes rather than technological ones.

Clinical and economic benefits of hospital drug management rationalization

Abstract: Hospitals are health care facilities where significant drug expenditures are observed [1]. At the same time, the scale of medical and drug errors recorded in hospitals should be emphasized [2]. This phenomenon is observed in various parts of the world and is global in nature [3]. Pharmacotherapy errors have medical and economic consequences. Therefore, it is extremely important to highlight and address this issue. In our earlier article, published in the Journal of Medical Economics, we outlined the areas of hospital drug management and how it can be optimized [4]. We have indicated there several solutions that may significantly influence the rationalization of the economy with drugs. However, it is important to pay attention to the medical and economic benefits of rationalizing hospital drug management, which is the aim of this article.

Evaluating the causes of cost reduction in photovoltaic modules

Abstract: Photovoltaic (PV) module costs have declined rapidly over forty years but the reasons remain elusive. Here we advance a conceptual framework and quantitative method for quantifying the causes of cost changes in a technology, and apply it to PV modules. Our method begins with a cost model that breaks down cost into variables that changed over time. Cost change equations are then derived to quantify each variable's contribution. We distinguish between changes observed in variables of the cost model – which we term low-level mechanisms of cost reduction – and research and development, learning-by-doing, and scale economies, which we refer to as high-level mechanisms. We find that increased module efficiency was the leading low-level cause of cost reduction in 1980–2012, contributing almost 25% of the decline. Government-funded and private R&D was the most important high-level mechanism over this period. After 2001, however, scale economies became a more significant cause of cost reduction, approaching R&D in importance. Policies that stimulate market growth have played a key role in enabling PV's cost reduction, through privately-funded R&D and scale economies, and to a lesser extent learning-by-doing. The method presented here can be adapted to retrospectively or prospectively study many technologies, and performance metrics besides cost.

Assessing the Level of Energy and Climate Sustainability in the European Union Countries in the Context of the European Green Deal Strategy and Agenda 2030

Abstract: The concept of sustainable development integrates activities in the economic, environmental and social areas. Energy policy, which is very closely linked to climate protection, is of key importance for achieving the goals of the concept in question. All these elements are connected by the European Green Deal strategy and Agenda 2030. Their implementation requires the evaluation of previous actions undertaken within the framework of sustainable development and the diagnosis of the current state. Therefore, this article presents the results of such research in relation to the key industry connected with this process, which is the energy sector. The research methodology was based on the analysis of 14 indicators that characterize four basic areas (dimensions) related to energy and climate sustainability. These indicators concern energy and climate as well as social and economic issues. This approach makes it possible to comprehensively assess the actions taken so far in the implementation of sustainable economic development in the energy and climate area in the European Union (EU) countries. The entropy-complex-proportional-assessment (COPRAS) methodologies, which belong to the group of multiple criteria decision-making methods, were used for this study. The conducted research allowed for the assessment of the changes in the EU countries in terms of energy and climate sustainability between 2009–2018. In addition, the effects of the introduced changes in individual years and in relation to the studied areas (dimensions) were also evaluated. Based on the results, considering the adopted criteria, the EU countries were divided into groups similar to the level of energy and climate sustainability. The results constitute a valuable set of data, which allows for a wide and in-depth multicriteria analysis. This allows for a very objective and broad assessment of the effects of sustainable development policies in the EU countries and the current state in the context of the European Green Deal strategy and Agenda 2030.

Does the Net Present Value as a Financial Metric Fit Investment in Green Energy Security?

Abstract: Surprisingly, little is known whether the net present value (NPV) used as a financial metric in budgeting and investment planning to analyse a projects’ profitability is universal. Meanwhile, the epochal green energy revolution ensuring carbon neutrality through green innovations requires enormous investments, and projects realised must ensure energy security. Therefore, there is a need to reanalyse financial metrics used in financial planning, including NPV. We eliminate this research gap and, based on data from Poland, Romania, Hungary, Croatia, the USA, the United Kingdom, Japan, Israel, and Euro Zone, explain why one may not perceive the currently used NPV formula as a universal financial metric. We show that the variable discount rate influences the time value of money. Therefore, there is a need to redefine the NPV formula. This study makes two main contributions. First, it creates new ground by revisiting the NPV formula in the emerging market context compared to stable economies and contributes to developing business and management theory. Second, we propose and empirically verify the modified NPV formula as a financial metric that considers the situation of energy firms in emerging markets. Thus, this research helps the capital budgeting process, and the modified NPV formula can help provide optimal outcomes in firms, helping to reduce financial risks. Our study contributes to a further contextual diagnosis of business projects and can, in turn, be relevant for other energy sector analyses.