|
Levelised Cost
The levelized cost of electricity (LCOE) is a measure of the average net present cost of electricity generation for a generator over its lifetime. It is used for investment planning and to compare different methods of electricity generation on a consistent basis. The more general term levelized cost of energy may include the costs of either electricity or heat. The latter is also referred to as ''levelized cost of heat''''A Comparative Cost Assessment of Energy Production from ...'' Nian, Energy Procedia, 2016 or ''levelized cost of heating'' (LCOH), or ''levelized cost of thermal energy''. Definition The cost of electricity production depends on costs during the ''expected'' lifetime of the generator and the amount of electricity the generator is ''expecte ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electricity Costs In Dollars According To Data From Lazard
Electricity is the set of physical phenomena associated with the presence and motion of matter possessing an electric charge. Electricity is related to magnetism, both being part of the phenomenon of electromagnetism, as described by Maxwell's equations. Common phenomena are related to electricity, including lightning, static electricity, electric heating, electric discharges and many others. The presence of either a positive or negative electric charge produces an electric field. The motion of electric charges is an electric current and produces a magnetic field. In most applications, Coulomb's law determines the force acting on an electric charge. Electric potential is the Work (physics), work done to move an electric charge from one point to another within an electric field, typically measured in volts. Electricity plays a central role in many modern technologies, serving in electric power where electric current is used to energise equipment, and in electronics dealing w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy Efficiency Gap
Energy efficiency gap refers to the improvement potential of energy efficiency or the difference between the cost-minimizing level of energy efficiency and the level of energy efficiency actually realized. It has attracted considerable attention among energy policy analysts, because its existence suggests that society has forgone cost-effective investments in energy efficiency, even though they could significantly reduce energy consumption at low cost. This term was first "coined" by Eric Hirst and Marilyn Brown in a paper entitled "Closing the Efficiency Gap: Barriers to the Efficient Use of Energy" in 1990. Introduction Energy efficiency refers to changes in equipment and behavior that result in increased energy services per unit of energy consumed, while behavioral changes that reduce energy use are often referred to as energy conservation. Energy intensity which measures energy consumption per Gross Domestic Product (GDP) is one indicator of energy efficiency. Many people ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Externality
In economics, an externality is an Indirect costs, indirect cost (external cost) or indirect benefit (external benefit) to an uninvolved third party that arises as an effect of another party's (or parties') activity. Externalities can be considered as unpriced components that are involved in either consumer or producer consumption. Air pollution from motor vehicles is one example. The Air pollution#Health effects, cost of air pollution to society is not paid by either the producers or users of motorized transport. Water pollution from mills and factories are another example. All (water) consumers are made worse off by pollution but are not compensated by the market for this damage. The concept of externality was first developed by Alfred Marshall in the 1890s and achieved broader attention in the works of economist Arthur Cecil Pigou, Arthur Pigou in the 1920s. The prototypical example of a negative externality is environmental pollution. Pigou argued that a tax, equal to the m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Cost Of Greenhouse Gas Emissions
The social cost of carbon (SCC) is an estimate, typically expressed in dollars, of the economic damages associated with emitting one additional ton of carbon dioxide into the atmosphere. By translating the effects of climate change into monetary terms, the SCC provides policymakers with a tool to assess the potential impacts of actions that increase or reduce greenhouse gas emissions. It is commonly used in regulatory impact analyses to inform investment decisions, cost-benefit assessments, and climate policy development. History The concept of pricing environmental externalities was first proposed by economist Arthur Pigou in 1912, who suggested taxing activities that generate negative externalities, such as pollution. Although Pigou's framework did not specifically address carbon dioxide emissions, it laid the intellectual foundation for the development of the Social Cost of Carbon. In the early 1990s, economist William Nordhaus introduced the Dynamic Integrated Climate-E ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Levelized Avoided Cost Of Energy
Different methods of electricity generation can incur a variety of different costs, which can be divided into three general categories: 1) wholesale costs, or all costs paid by utilities associated with acquiring and distributing electricity to consumers, 2) retail costs paid by consumers, and 3) external costs, or externalities, imposed on society. Wholesale costs include initial capital, operations & maintenance (O&M), transmission, and costs of decommissioning. Depending on the local regulatory environment, some or all wholesale costs may be passed through to consumers. These are costs per unit of energy, typically represented as dollars/megawatt hour (wholesale). The calculations also assist governments in making decisions regarding energy policy. On average the levelized cost of electricity from utility scale solar power and onshore wind power is less than from coal and gas-fired power stations, but this varies greatly by location. Cost metrics Levelized cost of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Curtailment (electricity)
In the electric power industry, curtailment is an involuntary reduction of the electric generator output ("dispatch down") made to maintain the grid stability (for example, for the grid balancing). While curtailment is a standard technique that had been applied throughout the history of electric power production, in the 21st century it became an economic issue for the owners of wind and solar generators. These variable renewable energy plants, due to the absence of an expendable resource (like fuel), have quite low marginal cost of the electricity production, so curtailment affects the economics of the project in a much more significant way than in the case of conventional units. Curtailment is a loss of potentially useful energy, and may impact power purchase agreements. However, using all available energy may require costly methods such as building new power lines or storage, becoming more expensive than letting surplus power go unused. Examples After ERCOT built a new t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy Storage
Energy storage is the capture of energy produced at one time for use at a later time to reduce imbalances between energy demand and energy production. A device that stores energy is generally called an Accumulator (energy), accumulator or Battery (electricity), battery. Energy comes in multiple forms including radiation, chemical energy, chemical, gravitational potential energy, gravitational potential, Electric potential energy, electrical potential, electricity, elevated temperature, latent heat and kinetic energy, kinetic. Energy storage involves converting energy from forms that are difficult to store to more conveniently or economically storable forms. Some technologies provide short-term energy storage, while others can endure for much longer. Bulk energy storage is currently dominated by hydroelectric dams, both conventional as well as pumped. Grid energy storage is a collection of methods used for energy storage on a large scale within an electrical power grid. Common e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Air Conditioning
Air conditioning, often abbreviated as A/C (US) or air con (UK), is the process of removing heat from an enclosed space to achieve a more comfortable interior temperature, and in some cases, also controlling the humidity of internal air. Air conditioning can be achieved using a mechanical 'air conditioner' or through other methods, such as passive cooling and ventilative cooling. Air conditioning is a member of a family of systems and techniques that provide Heating, ventilation, and air conditioning, heating, ventilation, and air conditioning (HVAC). Heat pumps are similar in many ways to air conditioners but use a reversing valve, allowing them to both heat and cool an enclosed space. Air conditioners, which typically use vapor-compression refrigeration, range in size from small units used in vehicles or single rooms to massive units that can cool large buildings. Air source heat pumps, which can be used for heating as well as cooling, are becoming increasingly common in cool ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wind
Wind is the natural movement of atmosphere of Earth, air or other gases relative to a planetary surface, planet's surface. Winds occur on a range of scales, from thunderstorm flows lasting tens of minutes, to local breezes generated by heating of land surfaces and lasting a few hours, to global winds resulting from the difference in absorption (electromagnetic radiation), absorption of solar energy between the climate zones on Earth. The study of wind is called anemology. The two main causes of large-scale atmospheric circulation are the differential heating between the equator and the poles, and the rotation of the planet (Coriolis effect). Within the tropics and subtropics, thermal low circulations over terrain and high plateaus can drive monsoon circulations. In coastal areas the sea breeze/land breeze cycle can define local winds; in areas that have variable terrain, mountain and valley breezes can prevail. Winds are commonly classified by their scale (spatial), spatial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Solar Power
Solar power, also known as solar electricity, is the conversion of energy from sunlight into electricity, either directly using photovoltaics (PV) or indirectly using concentrated solar power. Solar panels use the photovoltaic effect to convert light into an electric current. Concentrated solar power systems use lenses or mirrors and solar tracking systems to focus a large area of sunlight to a hot spot, often to drive a steam turbine. Photovoltaics (PV) were initially solely used as a source of electricity for small and medium-sized applications, from the calculator powered by a single solar cell to remote homes powered by an off-grid rooftop PV system. Commercial concentrated solar power plants were first developed in the 1980s. Since then, as the cost of solar panels has fallen, grid-connected solar PV systems' capacity and production has doubled about every three years. Three-quarters of new generation capacity is solar, with both millions of rooftop installatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Variable Renewable Energy
Variable renewable energy (VRE) or intermittent renewable energy sources (IRES) are renewable energy sources that are not dispatchable due to their fluctuating nature, such as wind power and solar power, as opposed to controllable renewable energy sources, such as dammed hydroelectricity or bioenergy, or relatively constant sources, such as geothermal power. The use of small amounts of intermittent power has little effect on grid operations. Using larger amounts of intermittent power may require upgrades or even a redesign of the grid infrastructure. Options to absorb large shares of variable energy into the grid include using storage, improved interconnection between different variable sources to smooth out supply, using dispatchable energy sources such as hydroelectricity and having overcapacity, so that sufficient energy is produced even when weather is less favourable. More connections between the energy sector and the building, transport and industrial sectors may also ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
