Energy conversion efficiencyEnergy conversion efficiency (η) is the ratio between the useful output of an energy conversion machine and the input, in energy terms. The input, as well as the useful output may be chemical, electric power, mechanical work, light (radiation), or heat. The resulting value, η (eta), ranges between 0 and 1. Energy conversion efficiency depends on the usefulness of the output. All or part of the heat produced from burning a fuel may become rejected waste heat if, for example, work is the desired output from a thermodynamic cycle.
Ground source heat pumpA ground source heat pump (also geothermal heat pump) is a heating/cooling system for buildings that uses a type of heat pump to transfer heat to or from the ground, taking advantage of the relative constancy of temperatures of the earth through the seasons. Ground source heat pumps (GSHPs) – or geothermal heat pumps (GHP) as they are commonly termed in North America – are among the most energy-efficient technologies for providing HVAC and water heating, using far less energy than can be achieved by burning a fuel in a boiler/furnace or by use of resistive electric heaters.
HeatIn thermodynamics, heat is the thermal energy transferred between systems due to a temperature difference. In colloquial use, heat sometimes refers to thermal energy itself. An example of formal vs. informal usage may be obtained from the right-hand photo, in which the metal bar is "conducting heat" from its hot end to its cold end, but if the metal bar is considered a thermodynamic system, then the energy flowing within the metal bar is called internal energy, not heat.
Heat recovery ventilationHeat recovery ventilation (HRV), also known as mechanical ventilation heat recovery (MVHR), is an energy recovery ventilation system that operates between two air sources at different temperatures. It's a method that is used to reduce the heating and cooling demands of buildings. By recovering the residual heat in the exhaust gas, the fresh air introduced into the air conditioning system is preheated (or pre-cooled), and the fresh air's enthalpy is reduced before it enters the room, or the air cooler of the air conditioning unit performs heat and moisture treatment.
Air source heat pumpAn air source heat pump (ASHP) is a type of heat pump that can absorb heat from outside a structure and release it inside using the same vapor-compression refrigeration process and much the same equipment as air conditioners but used in the opposite direction. Unlike an air conditioning unit, most ASHPs are reversible and are able to either warm or cool buildings and in some cases also provide domestic hot water. In a typical setting, an ASHP can gain 4 kWh thermal energy from 1 kWh electric energy.
WasteWaste (or wastes) are unwanted or unusable materials. Waste is any substance discarded after primary use, or is worthless, defective and of no use. A by-product, by contrast is a joint product of relatively minor economic value. A waste product may become a by-product, joint product or resource through an invention that raises a waste product's value above zero. Examples include municipal solid waste (household trash/refuse), hazardous waste, wastewater (such as sewage, which contains bodily wastes (feces and urine) and surface runoff), radioactive waste, and others.
Heat engineIn thermodynamics and engineering, a heat engine is a system that converts heat to usable energy, particularly mechanical energy, which can then be used to do mechanical work. While originally conceived in the context of mechanical energy, the concept of the heat engine has been applied to various other kinds of energy, particularly electrical, since at least the late 19th century. The heat engine does this by bringing a working substance from a higher state temperature to a lower state temperature.
Transaction costIn economics and related disciplines, a transaction cost is a cost in making any economic trade when participating in a market. The idea that transactions form the basis of economic thinking was introduced by the institutional economist John R. Commons in 1931, and Oliver E. Williamson's Transaction Cost Economics article, published in 2008, popularized the concept of transaction costs. Douglass C. North argues that institutions, understood as the set of rules in a society, are key in the determination of transaction costs.
Rankine cycleThe Rankine cycle is an idealized thermodynamic cycle describing the process by which certain heat engines, such as steam turbines or reciprocating steam engines, allow mechanical work to be extracted from a fluid as it moves between a heat source and heat sink. The Rankine cycle is named after William John Macquorn Rankine, a Scottish polymath professor at Glasgow University. Heat energy is supplied to the system via a boiler where the working fluid (typically water) is converted to a high pressure gaseous state (steam) in order to turn a turbine.
Economic efficiencyIn microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts: Allocative or Pareto efficiency: any changes made to assist one person would harm another. Productive efficiency: no additional output of one good can be obtained without decreasing the output of another good, and production proceeds at the lowest possible average total cost. These definitions are not equivalent: a market or other economic system may be allocatively but not productively efficient, or productively but not allocatively efficient.
