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21.0 Energy Economics
Dr. Michael Slotkin
Frank R. LeslieB. S. E. E., M. S. Space Technology, LM IEEE
[email protected]; (321) 674-7377
http://www.fit.edu/~fleslie
4/13/2010
This is a placeholder and Frank Leslie has not completed the presentation yet
In Other News . . .
Crude oil falls to about $80/bbl on increasing oil supply estimates
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21 Overview
Dr. Slotkin’s presentation is not yet available
What follows are just my thoughts for now – F. Leslie
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21.1 Constant Dollar Conversion
The value of the dollar changes with inflation, so varying year costs must be compensated by the inflation rate
After inflation, more money must be earned to buy the same goods
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21.2 Present and Future Value
Revised 021213
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21.3 Estimating System Life-Cycle Costs
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21.4 Externalities
Externalities are costs not included in the system cost, but are borne by others
Emission reduction can be encouraged by placing a tax on the emissions
Revised 021213
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21.5 CFL vs. Incandescent Lamps vs. LEDs
Compact Fluorescent Lamps (CFL) have fallen in price to about $2 per lamp and they last about 8000 hoursThey require about ¼ the power for the same
light as an incandescent bulb (~$0.25)LED (Light Emitting Diode) lamps cost about $35
and last ~10000 hoursThe energy cost for the quoted life must be
added to the cost of replacement labor and the original cost to get a comparison cost
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21.6 System Costing
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21.7 Truths and Fallacies
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21.8 Cost-Savings Analysis: Did you Compute Cost Savings to buy your Car?
Cost savings are often expressed as “years until payoff”The shorter the payoff time, the better the
investment In buying a new car, one never worries about
payoff timePerhaps, buying a solar system should be
considered without payoff computations
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21 Conclusion
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Olin Engineering Complex 4.7 kW Solar PV Roof Array
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Questions?
References: Books
Boyle, Godfrey. Renewable Energy, Second Edition. Oxford: Oxford University Press, 2004, ISBN 0-19-26178-4. (my preferred text)
Brower, Michael. Cool Energy. Cambridge MA: The MIT Press, 1992. 0-262-02349-0, TJ807.9.U6B76, 333.79’4’0973.
Duffie, John and William A. Beckman. Solar Engineering of Thermal Processes. NY: John Wiley & Sons, Inc., 920 pp., 1991
Gipe, Paul. Wind Energy for Home & Business. White River Junction, VT: Chelsea Green Pub. Co., 1993. 0-930031-64-4, TJ820.G57, 621.4’5
Patel, Mukund R. Wind and Solar Power Systems. Boca Raton: CRC Press, 1999, 351 pp. ISBN 0-8493-1605-7, TK1541.P38 1999, 621.31’2136
Sørensen, Bent. Renewable Energy, Second Edition. San Diego: Academic Press, 2000, 911 pp. ISBN 0-12-656152-4.
Tester, Jefferson W. , Elisabeth M. Drake, Michael J. Driscoll, Michael W. Golay and William A. PetersSustainable Energy Choosing Among Options. Boston: MIT Press, 870 pp. July 2005 ISBN-10:0-262-20153-4
090404
References: Websites, etc.
[email protected]. Wind Energy [email protected]. Wind energy home powersite elistgeothermal.marin.org/ on geothermal energymailto:[email protected] rredc.nrel.gov/wind/pubs/atlas/maps/chap2/2-01m.html PNNL wind energy map of CONUS
[email protected]. Elist for wind energy experimenterswww.dieoff.org. Site devoted to the decline of energy and effects upon populationwww.ferc.gov/ Federal Energy Regulatory Commissionwww.hawaii.gov/dbedt/ert/otec_hi.html#anchor349152 on OTEC systemstelosnet.com/wind/20th.htmlwww.google.com/search?q=%22renewable+energy+course%22solstice.crest.org/dataweb.usbr.gov/html/powerplant_selection.html
Revised 090414
