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

Teaching Activities
Category Activity Number Length Student Hours Comment
Guided Independent StudyAssessment preparation and completion125:0025:00Target study for post-school assignment report on case study on context and energy transformations.
Guided Independent StudyAssessment preparation and completion12:002:00End of school written examination on energy and costing.
Guided Independent StudyAssessment preparation and completion11:001:00Intensive school diagnostic mcq examination on pre-school study of energy concepts and SI units.
Guided Independent StudyAssessment preparation and completion138:0038:00Target pre-School independent study on energy and economic evaluation examination topics.
Guided Independent StudyAssessment preparation and completion116:0016:00Recommended revision for exam during Intensive School assuming adequate pre-School independent study
Scheduled Learning And Teaching ActivitiesSmall group teaching63:0018:00Seminars reviewing, discussing and practising application of previously learned material.
Total100:00
Teaching Rationale And Relationship

Students are expected to study for themselves the material on energy (with SI units) and costing and attempt the self-study examples provided before the intensive school week. At Masters level, the ability to identify any necessary supporting literature for themselves is expected. The intensive school will consist of seminars (including group tutorials) on energy (with SI units)and costing to support and guide students' own revision towards the end of intensive school formal written examination on energy and costing. Subsequently students will be assigned a particular renewable energy technology for their post-school assignment report, for which they will integrate all their learning (including the contextual material)into explaining a case study that they have to identify and research for themselves.

Assessment Methods

The format of resits will be determined by the Board of Examiners

Exams
Description Length Semester When Set Percentage Comment
Written Examination1201M60Set at end of intensive school. Covers energy science concepts (with SI units) and economic appraisal for energy projects.
Other Assessment
Description Semester When Set Percentage Comment
Essay1M40Post school report on student's own case study for an allocated RE technology integrating learning from all strands of the syllabus.
Assessment Rationale And Relationship

The end of school written examination tests knowledge acquisition on energy,SI units and economic evaluation concepts.The post-school case study assignment tests Masters-level independent research, literature referencing and case presentation skills.

Reading Lists

Timetable