Capacity factorThe net capacity factor is the unitless ratio of actual electrical energy output over a given period of time to the theoretical maximum electrical energy output over that period. The theoretical maximum energy output of a given installation is defined as that due to its continuous operation at full nameplate capacity over the relevant period. The capacity factor can be calculated for any electricity producing installation, such as a fuel consuming power plant or one using renewable energy, such as wind or the sun.
Opportunity costIn microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone where, given limited resources, a choice needs to be made between several mutually exclusive alternatives. Assuming the best choice is made, it is the "cost" incurred by not enjoying the benefit that would have been had by taking the second best available choice. The New Oxford American Dictionary defines it as "the loss of potential gain from other alternatives when one alternative is chosen.
Cost of goods soldCost of goods sold (COGS) is the carrying value of goods sold during a particular period. Costs are associated with particular goods using one of the several formulas, including specific identification, first-in first-out (FIFO), or average cost. Costs include all costs of purchase, costs of conversion and other costs that are incurred in bringing the inventories to their present location and condition. Costs of goods made by the businesses include material, labor, and allocated overhead.
Coal liquefactionCoal liquefaction is a process of converting coal into liquid hydrocarbons: liquid fuels and petrochemicals. This process is often known as "Coal to X" or "Carbon to X", where X can be many different hydrocarbon-based products. However, the most common process chain is "Coal to Liquid Fuels" (CTL). Coal liquefaction originally was developed at the beginning of the 20th century. The best-known CTL process is Fischer–Tropsch synthesis (FT), named after the inventors Franz Fischer and Hans Tropsch from the Kaiser Wilhelm Institute in the 1920s.
TorrefactionTorrefaction of biomass, e.g., wood or grain, is a mild form of pyrolysis at temperatures typically between 200 and 320 °C. Torrefaction changes biomass properties to provide a better fuel quality for combustion and gasification applications. Torrefaction produces a relatively dry product, which reduces or eliminates its potential for organic decomposition. Torrefaction combined with densification creates an energy-dense fuel carrier of 20 to 21 GJ/ton lower heating value (LHV).
