Postgraduate

Modules

Modules

SPG8024 : Quantifying Energy Decision Making

Semesters
Semester 1 Credit Value: 10
ECTS Credits: 5.0

Aims

To enable business enterprise students to quantify (physically and economically) energy decision making through knowledge and understanding of:
-       Energy science concepts and SI units for physical quantities.
-       Economic appraisal methods for energy projects.
-       Energy supply contexts and issues influencing energy project evaluation.

Outline Of Syllabus

Energy science concepts and SI units
-       Human need for heat and work – energy.
-       Definitions and physical forms – energy, heat, work and related properties.
-       Measuring physical quantities – SI units for energy systems.
-       Key distinctions – work and power, heat and temperature.
-       Energy transformations and the economic value of energy – the 1st and 2nd Laws.

Economic appraisal for energy projects:
-       Time-value of money and discounted cash flow for long-term projects.
-       Project financial appraisal approaches based on lifetime cost.
-       Energy project comparison - cost per unit produced.
-       Asset depreciation.

Issues influencing energy plant evaluation and selection:
-       Demand and supply characteristics in power systems.
-       Supply characteristics of renewable energy resources.
-       Issues in exploiting renewable energy resources.
-       The concept of availability in power systems.
-       Security of supply, reliability and plant margin.
-       Issues of scale – centralised and distributed systems.

Teaching Methods

Module leaders are revising this content in light of the Covid 19 restrictions.
Revised and approved detail information will be available by 17 August.

Assessment Methods

Module leaders are revising this content in light of the Covid 19 restrictions.
Revised and approved detail information will be available by 17 August.

Reading Lists

Timetable