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Application of High Temperature Superconductivity in Power Systems
Related concepts (32)
Technological applications of superconductivity
Technological applications of superconductivity include: the production of sensitive magnetometers based on SQUIDs (superconducting quantum interference devices) fast digital circuits (including those based on Josephson junctions and rapid single flux quantum technology), powerful superconducting electromagnets used in maglev trains, magnetic resonance imaging (MRI) and nuclear magnetic resonance (NMR) machines, magnetic confinement fusion reactors (e.g.
Unconventional superconductor
Unconventional superconductors are materials that display superconductivity which does not conform to conventional BCS theory or its extensions. The superconducting properties of CeCu2Si2, a type of heavy fermion material, were reported in 1979 by Frank Steglich. For a long time it was believed that CeCu2Si2 was a singlet d-wave superconductor, but since the mid 2010s, this notion has been strongly contested. In the early eighties, many more unconventional, heavy fermion superconductors were discovered, including UBe13, UPt3 and URu2Si2.
Superconductivity
Superconductivity is a set of physical properties observed in certain materials where electrical resistance vanishes and magnetic fields are expelled from the material. Any material exhibiting these properties is a superconductor. Unlike an ordinary metallic conductor, whose resistance decreases gradually as its temperature is lowered, even down to near absolute zero, a superconductor has a characteristic critical temperature below which the resistance drops abruptly to zero.
High-temperature superconductivity
High-temperature superconductors (abbreviated high-Tc or HTS) are defined as materials with critical temperature (the temperature below which the material behaves as a superconductor) above , the boiling point of liquid nitrogen. They are only "high-temperature" relative to previously known superconductors, which function at even colder temperatures, close to absolute zero. The "high temperatures" are still far below ambient (room temperature), and therefore require cooling.
Electric power transmission
Electric power transmission is the bulk movement of electrical energy from a generating site, such as a power plant, to an electrical substation. The interconnected lines that facilitate this movement form a transmission network. This is distinct from the local wiring between high-voltage substations and customers, which is typically referred to as electric power distribution. The combined transmission and distribution network is part of electricity delivery, known as the electrical grid.
Fault current limiter
A fault current limiter (FCL), also known as fault current controller (FCC), is a device which limits the prospective fault current when a fault occurs (e.g. in a power transmission network) without complete disconnection. The term includes superconducting, solid-state and inductive devices. Electric power distribution systems include circuit breakers to disconnect power in case of a fault, but to maximize reliability, they wish to disconnect the smallest possible portion of the network.
Real options valuation
Real 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.
Power transmission
Power transmission is the movement of energy from its place of generation to a location where it is applied to perform useful work. Power is defined formally as units of energy per unit time. In SI units: Since the development of technology, transmission and storage systems have been of immense interest to technologists and technology users. Electric power transmission With the widespread establishment of electrical grids, power transmission is usually associated most with electric power transmission.
Option style
In finance, the style or family of an option is the class into which the option falls, usually defined by the dates on which the option may be exercised. The vast majority of options are either European or American (style) options. These options—as well as others where the payoff is calculated similarly—are referred to as "vanilla options". Options where the payoff is calculated differently are categorized as "exotic options". Exotic options can pose challenging problems in valuation and hedging.
Exotic option
In finance, an exotic option is an option which has features making it more complex than commonly traded vanilla options. Like the more general exotic derivatives they may have several triggers relating to determination of payoff. An exotic option may also include a non-standard underlying instrument, developed for a particular client or for a particular market. Exotic options are more complex than options that trade on an exchange, and are generally traded over the counter.