Evolutionary algorithmIn computational intelligence (CI), an evolutionary algorithm (EA) is a subset of evolutionary computation, a generic population-based metaheuristic optimization algorithm. An EA uses mechanisms inspired by biological evolution, such as reproduction, mutation, recombination, and selection. Candidate solutions to the optimization problem play the role of individuals in a population, and the fitness function determines the quality of the solutions (see also loss function).
Heat exchangerA heat exchanger is a system used to transfer heat between a source and a working fluid. Heat exchangers are used in both cooling and heating processes. The fluids may be separated by a solid wall to prevent mixing or they may be in direct contact. They are widely used in space heating, refrigeration, air conditioning, power stations, chemical plants, petrochemical plants, petroleum refineries, natural-gas processing, and sewage treatment.
Cost of capitalIn economics and accounting, the cost of capital is the cost of a company's funds (both debt and equity), or from an investor's point of view is "the required rate of return on a portfolio company's existing securities". It is used to evaluate new projects of a company. It is the minimum return that investors expect for providing capital to the company, thus setting a benchmark that a new project has to meet. For an investment to be worthwhile, the expected return on capital has to be higher than the cost of capital.
ExergyFrom a scientific and engineering perspective, second-law based exergy analysis is valuable because it provides a number of benefits over energy analysis alone. These benefits include the basis for determining energy quality (or exergy content), enhancing the understanding of fundamental physical phenomena, and improving design, performance evaluation and optimization efforts. In thermodynamics, the exergy of a system is the maximum useful work that can be produced as the system is brought into equilibrium with its environment by an ideal process.
2007–2008 world food price crisisThe world food price crisis refers to a period of time when the cost of food increased significantly and had a profound impact on the availability and affordability of food for people around the world. This crisis is often characterized by sharp spikes in the prices of key staple foods such as wheat, rice, and corn, as well as other agricultural commodities such as sugar and oil. The causes of the world food price crisis are complex and multifaceted, but they generally involve a combination of factors including droughts and other weather-related events, increased demand for biofuels, trade policies, and financial speculation.
Compound interestCompound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on principal plus interest. It is the result of reinvesting interest, or adding it to the loaned capital rather than paying it out, or requiring payment from borrower, so that interest in the next period is then earned on the principal sum plus previously accumulated interest. Compound interest is standard in finance and economics.
Thermal efficiencyIn thermodynamics, the thermal efficiency () is a dimensionless performance measure of a device that uses thermal energy, such as an internal combustion engine, steam turbine, steam engine, boiler, furnace, refrigerator, ACs etc. For a heat engine, thermal efficiency is the ratio of the net work output to the heat input; in the case of a heat pump, thermal efficiency (known as the coefficient of performance) is the ratio of net heat output (for heating), or the net heat removed (for cooling) to the energy input (external work).
Second-generation biofuelsSecond-generation biofuels, also known as advanced biofuels, are fuels that can be manufactured from various types of non-food biomass. Biomass in this context means plant materials and animal waste used especially as a source of fuel. First-generation biofuels are made from sugar-starch feedstocks (e.g., sugarcane and corn) and edible oil feedstocks (e.g., rapeseed and soybean oil), which are generally converted into bioethanol and biodiesel, respectively.
Ethanol fermentationEthanol fermentation, also called alcoholic fermentation, is a biological process which converts sugars such as glucose, fructose, and sucrose into cellular energy, producing ethanol and carbon dioxide as by-products. Because yeasts perform this conversion in the absence of oxygen, alcoholic fermentation is considered an anaerobic process. It also takes place in some species of fish (including goldfish and carp) where (along with lactic acid fermentation) it provides energy when oxygen is scarce.
Computer coolingComputer cooling is required to remove the waste heat produced by computer components, to keep components within permissible operating temperature limits. Components that are susceptible to temporary malfunction or permanent failure if overheated include integrated circuits such as central processing units (CPUs), chipsets, graphics cards, and hard disk drives. Components are often designed to generate as little heat as possible, and computers and operating systems may be designed to reduce power consumption and consequent heating according to workload, but more heat may still be produced than can be removed without attention to cooling.
