Wind turbineA wind turbine is a device that converts the kinetic energy of wind into electrical energy. , hundreds of thousands of large turbines, in installations known as wind farms, were generating over 650 gigawatts of power, with 60 GW added each year. Wind turbines are an increasingly important source of intermittent renewable energy, and are used in many countries to lower energy costs and reduce reliance on fossil fuels.
Seasonal thermal energy storageSeasonal thermal energy storage (STES), also known as inter-seasonal thermal energy storage, is the storage of heat or cold for periods of up to several months. The thermal energy can be collected whenever it is available and be used whenever needed, such as in the opposing season. For example, heat from solar collectors or waste heat from air conditioning equipment can be gathered in hot months for space heating use when needed, including during winter months.
Wind powerWind power is the use of wind energy to generate useful work. Historically, wind power was used by sails, windmills and windpumps, but today it is mostly used to generate electricity. This article deals only with wind power for electricity generation. Today, wind power is generated almost completely with wind turbines, generally grouped into wind farms and connected to the electrical grid. In 2022, wind supplied over 2000 TWh of electricity, which was over 7% of world electricity and about 2% of world energy.
Net meteringNet metering (or net energy metering, NEM) is an electricity billing mechanism that allows consumers who generate some or all of their own electricity to use that electricity anytime, instead of when it is generated. This is particularly important with renewable energy sources like wind and solar, which are non-dispatchable (when not coupled to storage). Monthly net metering allows consumers to use solar power generated during the day at night, or wind from a windy day later in the month.
Wind farmA wind farm or wind park, also called a wind power station or wind power plant, is a group of wind turbines in the same location used to produce electricity. Wind farms vary in size from a small number of turbines to several hundred wind turbines covering an extensive area. Wind farms can be either onshore or offshore. Many of the largest operational onshore wind farms are located in China, India, and the United States. For example, the largest wind farm in the world, Gansu Wind Farm in China had a capacity of over 6,000 MW by 2012, with a goal of 20,000 MW by 2020.
Option (finance)In finance, an option is a contract which conveys to its owner, the holder, the right, but not the obligation, to buy or sell a specific quantity of an underlying asset or instrument at a specified strike price on or before a specified date, depending on the style of the option. Options are typically acquired by purchase, as a form of compensation, or as part of a complex financial transaction.
Hydrogen storageSeveral methods exist for storing hydrogen. These include mechanical approaches such as using high pressures and low temperatures, or employing chemical compounds that release H2 upon demand. While large amounts of hydrogen are produced by various industries, it is mostly consumed at the site of production, notably for the synthesis of ammonia. For many years hydrogen has been stored as compressed gas or cryogenic liquid, and transported as such in cylinders, tubes, and cryogenic tanks for use in industry or as propellant in space programs.
Real options valuationReal options valuation, also often termed real options analysis, (ROV or ROA) applies option valuation techniques to capital budgeting decisions. A real option itself, is the right—but not the obligation—to undertake certain business initiatives, such as deferring, abandoning, expanding, staging, or contracting a capital investment project. For example, real options valuation could examine the opportunity to invest in the expansion of a firm's factory and the alternative option to sell the factory.
Option time valueIn finance, the time value (TV) (extrinsic or instrumental value) of an option is the premium a rational investor would pay over its current exercise value (intrinsic value), based on the probability it will increase in value before expiry. For an American option this value is always greater than zero in a fair market, thus an option is always worth more than its current exercise value. As an option can be thought of as 'price insurance' (e.g.
Employee stock optionEmployee stock options (ESO) is a label that refers to compensation contracts between an employer and an employee that carries some characteristics of financial options. Employee stock options are commonly viewed as an internal agreement providing the possibility to participate in the share capital of a company, granted by the company to an employee as part of the employee's remuneration package. Regulators and economists have since specified that ESOs are compensation contracts.
