Electricity meterAn electricity meter, electric meter, electrical meter, energy meter, or kilowatt-hour meter is a device that measures the amount of electric energy consumed by a residence, a business, or an electrically powered device. Electric meter or energy meter measures the total power consumed over a time interval. Electric utilities use electric meters installed at customers' premises for billing and monitoring purposes. They are typically calibrated in billing units, the most common one being the kilowatt hour (kWh).
Electricity retailingElectricity retailing is the final sale of electricity from generation to the end-use consumer. This is the fourth major step in the electricity delivery process, which also includes generation, transmission and distribution. Electricity retailing began at the end of the 19th century when the bodies which generated electricity for their own use made supply available to third parties. In the beginning, electricity was primarily used for street lighting and trams. The public could buy once large scale electric companies had been started.
Greenhouse gas emissionsGreenhouse gas emissions (abbreviated as GHG emissions) from human activities strengthen the greenhouse effect, contributing to climate change. Carbon dioxide (), from burning fossil fuels such as coal, oil, and natural gas, is one of the most important factors in causing climate change. The largest emitters are China followed by the US, although the United States has higher emissions per capita. The main producers fueling the emissions globally are large oil and gas companies.
Decentralized computingDecentralized computing is the allocation of resources, both hardware and software, to each individual workstation, or office location. In contrast, centralized computing exists when the majority of functions are carried out, or obtained from a remote centralized location. Decentralized computing is a trend in modern-day business environments. This is the opposite of centralized computing, which was prevalent during the early days of computers. A decentralized computer system has many benefits over a conventional centralized network.
Systems scienceSystems science, also referred to as systems research, or, simply, systems, is a transdisciplinary field concerned with understanding systems—from simple to complex—in nature, society, cognition, engineering, technology and science itself. The field is diverse, spanning the formal, natural, social, and applied sciences. To systems scientists, the world can be understood as a system of systems.
Energy developmentEnergy development is the field of activities focused on obtaining sources of energy from natural resources. These activities include the production of renewable, nuclear, and fossil fuel derived sources of energy, and for the recovery and reuse of energy that would otherwise be wasted. Energy conservation and efficiency measures reduce the demand for energy development, and can have benefits to society with improvements to environmental issues.
Levelized cost of electricityThe levelized cost of electricity (LCOE) is a measure of the average net present cost of electricity generation for a generator over its lifetime. It is used for investment planning and to compare different methods of electricity generation on a consistent basis. The more general term levelized cost of energy may include the costs of either electricity or heat. The latter is also referred to as levelized cost of heat or levelized cost of heating (LCOH), or levelized cost of thermal energy.
Systems engineeringSystems engineering is an interdisciplinary field of engineering and engineering management that focuses on how to design, integrate, and manage complex systems over their life cycles. At its core, systems engineering utilizes systems thinking principles to organize this body of knowledge. The individual outcome of such efforts, an engineered system, can be defined as a combination of components that work in synergy to collectively perform a useful function.
Emission intensityLife-cycle greenhouse gas emissions of energy sources An emission intensity (also carbon intensity or C.I.) is the emission rate of a given pollutant relative to the intensity of a specific activity, or an industrial production process; for example grams of carbon dioxide released per megajoule of energy produced, or the ratio of greenhouse gas emissions produced to gross domestic product (GDP).
Decentralized financeDecentralized finance (often stylized as DeFi) offers financial instruments without relying on intermediaries such as brokerages, exchanges, or banks by using smart contracts on a blockchain, mainly Ethereum. DeFi platforms allow people to lend or borrow funds from others, speculate on price movements on assets using derivatives, trade cryptocurrencies, insure against risks, and earn interest in savings-like accounts. DeFi uses a layered architecture and highly composable building blocks.
