Thermodynamic systemA thermodynamic system is a body of matter and/or radiation, considered as separate from its surroundings, and studied using the laws of thermodynamics. Thermodynamic systems may be isolated, closed, or open. An isolated system exchanges no matter or energy with its surroundings, whereas a closed system does not exchange matter but may exchange heat and experience and exert forces. An open system can interact with its surroundings by exchanging both matter and energy.
Renewable energy commercializationRenewable energy commercialization involves the deployment of three generations of renewable energy technologies dating back more than 100 years. First-generation technologies, which are already mature and economically competitive, include biomass, hydroelectricity, geothermal power and heat. Second-generation technologies are market-ready and are being deployed at the present time; they include solar heating, photovoltaics, wind power, solar thermal power stations, and modern forms of bioenergy.
Return on investmentReturn on investment (ROI) or return on costs (ROC) is a ratio between net income (over a period) and investment (costs resulting from an investment of some resources at a point in time). A high ROI means the investment's gains compare favourably to its cost. As a performance measure, ROI is used to evaluate the efficiency of an investment or to compare the efficiencies of several different investments. In economic terms, it is one way of relating profits to capital invested.
Expiration (options)In finance, the expiration date of an option contract (represented by Greek letter tau, τ) is the last date on which the holder of the option may exercise it according to its terms. In the case of options with "automatic exercise", the net value of the option is credited to the long and debited to the short position holders. Typically, exchange-traded option contracts expire according to a pre-determined calendar. For instance, for U.S.
Closed-cycle gas turbineA closed-cycle gas turbine is a turbine that uses a gas (e.g. air, nitrogen, helium, argon, etc.) for the working fluid as part of a closed thermodynamic system. Heat is supplied from an external source. Such recirculating turbines follow the Brayton cycle. The initial patent for a closed-cycle gas turbine (CCGT) was issued in 1935 and they were first used commercially in 1939. Seven CCGT units were built in Switzerland and Germany by 1978.
Greeks (finance)In mathematical finance, the Greeks are the quantities representing the sensitivity of the price of derivatives such as options to a change in underlying parameters on which the value of an instrument or portfolio of financial instruments is dependent. The name is used because the most common of these sensitivities are denoted by Greek letters (as are some other finance measures). Collectively these have also been called the risk sensitivities, risk measures or hedge parameters. The Greeks are vital tools in risk management.
IntercoolerAn intercooler is a heat exchanger used to cool a gas after compression. Often found in turbocharged engines, intercoolers are also used in air compressors, air conditioners, refrigeration and gas turbines. Most commonly used with turbocharged engines, an intercooler is used to counteract the heat of compression and heat soak in the pressurised intake air. By reducing the temperature of the intake air, the air becomes denser (allowing more fuel to be injected, resulting in increased power) and less likely to suffer from pre-ignition or knocking.
Compound steam engineA compound steam engine unit is a type of steam engine where steam is expanded in two or more stages. A typical arrangement for a compound engine is that the steam is first expanded in a high-pressure (HP) cylinder, then having given up heat and losing pressure, it exhausts directly into one or more larger-volume low-pressure (LP) cylinders. Multiple-expansion engines employ additional cylinders, of progressively lower pressure, to extract further energy from the steam.
MicroturbineA microturbine (MT) is a small Gas Turbine with similar cycles and components to a heavy gas turbine. The MT power-to-weight ratio is better than a heavy gas turbine because the reduction of turbine diameters causes an increase in shaft rotational speed. Heavy gas turbine generators are too large and too expensive for distributed power applications, so MTs are developed for small-scale power like electrical power generation alone or as combined cooling, heating, and power (CCHP) systems.
