Asset allocationAsset allocation is the implementation of an investment strategy that attempts to balance risk versus reward by adjusting the percentage of each asset in an investment portfolio according to the investor's risk tolerance, goals and investment time frame. The focus is on the characteristics of the overall portfolio. Such a strategy contrasts with an approach that focuses on individual assets. Many financial experts argue that asset allocation is an important factor in determining returns for an investment portfolio.
TurbineA turbine ('tɜːrbaɪn or 'tɜːrbɪn) (from the Greek τύρβη, tyrbē, or Latin turbo, meaning vortex) is a rotary mechanical device that extracts energy from a fluid flow and converts it into useful work. The work produced can be used for generating electrical power when combined with a generator. A turbine is a turbomachine with at least one moving part called a rotor assembly, which is a shaft or drum with blades attached. Moving fluid acts on the blades so that they move and impart rotational energy to the rotor.
Maximum power point trackingMaximum power point tracking (MPPT), or sometimes just power point tracking (PPT), is a technique used with variable power sources to maximize energy extraction as conditions vary. The technique is most commonly used with photovoltaic (PV) solar systems, but can also be used with wind turbines, optical power transmission and thermophotovoltaics. PV solar systems have varying relationships to inverter systems, external grids, battery banks, and other electrical loads.
Central AsiaCentral Asia is a subregion of Asia that stretches from the Caspian Sea in the southwest and Eastern Europe in the northwest to Western China and Mongolia in the east, and from Afghanistan and Iran in the south to Russia in the north. It includes the former Soviet republics of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan, which are colloquially referred to as the "-stans" as the countries all have names ending with the Persian suffix "-stan", meaning "land of".
Flywheel energy storageFlywheel energy storage (FES) works by accelerating a rotor (flywheel) to a very high speed and maintaining the energy in the system as rotational energy. When energy is extracted from the system, the flywheel's rotational speed is reduced as a consequence of the principle of conservation of energy; adding energy to the system correspondingly results in an increase in the speed of the flywheel. Most FES systems use electricity to accelerate and decelerate the flywheel, but devices that directly use mechanical energy are being developed.
Optimal controlOptimal control theory is a branch of mathematical optimization that deals with finding a control for a dynamical system over a period of time such that an objective function is optimized. It has numerous applications in science, engineering and operations research. For example, the dynamical system might be a spacecraft with controls corresponding to rocket thrusters, and the objective might be to reach the moon with minimum fuel expenditure.
Steam engineA steam engine is a heat engine that performs mechanical work using steam as its working fluid. The steam engine uses the force produced by steam pressure to push a piston back and forth inside a cylinder. This pushing force can be transformed, by a connecting rod and crank, into rotational force for work. The term "steam engine" is generally applied only to reciprocating engines as just described, not to the steam turbine. Steam engines are external combustion engines, where the working fluid is separated from the combustion products.
Chernobyl disasterThe Chernobyl disaster was a nuclear accident that occurred on 26 April 1986 at the No. 4 reactor in the Chernobyl Nuclear Power Plant, near the city of Pripyat in the north of the Ukrainian SSR in the Soviet Union. Called the world's worst-ever civil nuclear incident, it is one of only two nuclear energy accidents rated at seven—the maximum severity—on the International Nuclear Event Scale, the other being the 2011 Fukushima nuclear disaster in Japan.
Portfolio optimizationPortfolio optimization is the process of selecting the best portfolio (asset distribution), out of the set of all portfolios being considered, according to some objective. The objective typically maximizes factors such as expected return, and minimizes costs like financial risk. Factors being considered may range from tangible (such as assets, liabilities, earnings or other fundamentals) to intangible (such as selective divestment). Modern portfolio theory was introduced in a 1952 doctoral thesis by Harry Markowitz; see Markowitz model.
Uninterruptible power supplyAn uninterruptible power supply (UPS) or uninterruptible power source is a type of continual power system that provides automated backup electric power to a load when the input power source or mains power fails. A UPS differs from a traditional auxiliary/emergency power system or standby generator in that it will provide near-instantaneous protection from input power interruptions by switching to energy stored in battery packs, supercapacitors or flywheels.
