Category: Electricity

This requires tax cuts elsewhere to offset the financial impact on consumers while still influencing energy consumption.

The Value of Lost Load (VOLL) is an indicator of the economic implications of non-supply of electricity due to a malfunction in the system and represents the cost a consumer would be willing to pay to avoid a disruption.

This value varies among the types of consumers and reflects the difference between the damage to each type.

Convert the direct current produced by solar panels into usable alternating current

Trigeneration units have an efficiency rate of 80% thanks to the utilization of residual heat

One of the characteristics of the electric power sector is that the amount of electricity that can be generated is relatively fixed over short a period of time, whilst demand for electricity fluctuates throughout the day. In addition, the cost of generating electricity differs throughout the day with more costs involved usually during peak consumption times due to the fact that the electricity provider needs to bring into operation its peaking more expensive to run power stations to meet demand. In addition, electricity generated by renewable sources (wind, sun) is also only available when the conditions exist. Therefore, developing technology to store electrical energy so it can be available to meet demand whenever needed would represent a major breakthrough in electricity distribution. Helping to try and meet this goal, electricity storage devices can manage the amount of power required to supply customers at times when need is greatest and to help balance the grid

A new process developed at Stanford that simultaneously combines the light and heat of solar radiation to generate electricity in a way that could make solar power production more than twice as efficient as existing methods and potentially cheap enough to compete with oil.

Unlike photovoltaic technology currently used in solar panels – which becomes less efficient as the temperature rises – the new process excels at higher temperatures and has the potential to surpass the efficiency of existing photovoltaic and thermal conversion technologies.

In addition, the materials needed to build a device to make the process work are cheap and easily available, meaning the power that comes from it will be affordable. The study was published in the scientific journal Nature Materials.

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