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Demand Response
Demand response is a change in the power consumption of an electric utility customer to better match the demand for power with the supply. Until the 21st century decrease in the cost of pumped storage and batteries electric energy could not be easily stored, so utilities have traditionally matched demand and supply by throttling the production rate of their power plants, taking generating units on or off line, or importing power from other utilities. There are limits to what can be achieved on the supply side, because some generating units can take a long time to come up to full power, some units may be very expensive to operate, and demand can at times be greater than the capacity of all the available power plants put together. Demand response seeks to adjust the demand for power instead of adjusting the supply. Utilities may signal demand requests to their customers in a variety of ways, including simple off-peak metering, in which power is cheaper at certain times of the day ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dryer With Smart Load Control Switch
Dryer (or drier) may refer to: Drying equipment * Hair dryer * Hand dryer * Clothes dryer, also known as a tumble-dryer * Belt dryer * Desiccant, a substance that absorbs or adsorbs water * Grain dryer, for storage grain bins * Oil drying agent, an additive which accelerates the film formation of a drying oil Other * Dryer (surname) * Dryer (band), a Saratoga Springs, NY based band See also * * * Drying * Dreier (other) * Dreyer {{disambiguation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bitcoin Network
The bitcoin network is a peer-to-peer payment network that operates on a cryptographic protocol. Users send and receive bitcoins, the units of currency, by broadcasting digitally-signed messages to the network using bitcoin cryptocurrency wallet software. Transactions are recorded into a distributed, replicated, public database known as the blockchain, with consensus achieved by a proof-of-work system called ''mining''. Satoshi Nakamoto, the anonymous designer of the protocol, stated that design and coding of bitcoin began in 2007. The project was released in 2009 as open source software. The network requires minimal structure to share transactions. An ad hoc decentralized network of volunteers is sufficient. Messages are broadcast on a best-effort basis, and nodes can leave and rejoin the network at will. Upon reconnection, a node downloads and verifies new blocks from other nodes to complete its local copy of the blockchain. Transactions A bitcoin is defined by a s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy 7
Economy 7 is the name of a differential tariff provided by United Kingdom electricity suppliers that uses base load generation to provide cheap off-peak electricity during the night. Houses using the Economy 7 tariff require a special electricity meter which provides two different readings - one for electricity used during the day, priced higher, and the other for the night, priced lower. The night (off-peak) period lasts for a total of seven hours, hence the name; however it may not be a continuous period, as it may alternate between the two prices during the night. The term was coined by Jon Marshall. The first mention of Economy 7 is in 1978: In more recent years the difference between day and night rates has become larger, with a reduction of about 33% (though dependent on the supplier). The Economy 7 tariff results in either or both of an increased standing (fixed) charge or increased daytime rate. Timing and switchover Appliances such as night storage heaters and hot w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pumped-storage Hydroelectricity
Pumped-storage hydroelectricity (PSH), or pumped hydroelectric energy storage (PHES), is a type of hydroelectric energy storage used by electric power systems for load balancing. The method stores energy in the form of gravitational potential energy of water, pumped from a lower elevation reservoir to a higher elevation. Low-cost surplus off-peak electric power is typically used to run the pumps. During periods of high electrical demand, the stored water is released through turbines to produce electric power. Although the losses of the pumping process make the plant a net consumer of energy overall, the system increases revenue by selling more electricity during periods of peak demand, when electricity prices are highest. If the upper lake collects significant rainfall or is fed by a river then the plant may be a net energy producer in the manner of a traditional hydroelectric plant. Pumped-storage hydroelectricity allows energy from intermittent sources (such as solar, wind ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy Storage
Energy storage is the capture of energy produced at one time for use at a later time to reduce imbalances between energy demand and energy production. A device that stores energy is generally called an accumulator or battery. Energy comes in multiple forms including radiation, chemical, gravitational potential, electrical potential, electricity, elevated temperature, latent heat and kinetic. Energy storage involves converting energy from forms that are difficult to store to more conveniently or economically storable forms. Some technologies provide short-term energy storage, while others can endure for much longer. Bulk energy storage is currently dominated by hydroelectric dams, both conventional as well as pumped. Grid energy storage is a collection of methods used for energy storage on a large scale within an electrical power grid. Common examples of energy storage are the rechargeable battery, which stores chemical energy readily convertible to electricity to operate a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marginal Cost
In economics, the marginal cost is the change in the total cost that arises when the quantity produced is incremented, the cost of producing additional quantity. In some contexts, it refers to an increment of one unit of output, and in others it refers to the rate of change of total cost as output is increased by an infinitesimal amount. As Figure 1 shows, the marginal cost is measured in dollars per unit, whereas total cost is in dollars, and the marginal cost is the slope of the total cost, the rate at which it increases with output. Marginal cost is different from average cost, which is the total cost divided by the number of units produced. At each level of production and time period being considered, marginal cost includes all costs that vary with the level of production, whereas costs that do not vary with production are fixed. For example, the marginal cost of producing an automobile will include the costs of labor and parts needed for the additional automobile but not the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brattle Group
The Brattle Group provides consulting services and expert testimony in economics, finance, and regulation to corporations, law firms, and public agencies. As of 2019, the company had offices in Boston, Brussels, Chicago, London, Madrid, New York City, Rome, San Francisco, Sydney, Toronto, and Washington, DC. Headquartered in Boston since 2017, its original headquarters was located on Brattle Street, in the Harvard Square district of Cambridge. Brattle Prize in Corporate Finance The company presents the Brattle Prize each year at the American Finance Association's annual meeting. It is awarded for outstanding papers on corporate finance, published in the ''Journal of Finance''. Consultants *Daniel McFadden Daniel Little McFadden (born July 29, 1937) is an American econometrician who shared the 2000 Nobel Memorial Prize in Economic Sciences with James Heckman. McFadden's share of the prize was "for his development of theory and methods for analyzing ... * Stewart Myers * George ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Elasticity Of Demand
A good's price elasticity of demand (E_d, PED) is a measure of how sensitive the quantity demanded is to its price. When the price rises, quantity demanded falls for almost any good, but it falls more for some than for others. The price elasticity gives the percentage change in quantity demanded when there is a one percent increase in price, holding everything else constant. If the elasticity is −2, that means a one percent price rise leads to a two percent decline in quantity demanded. Other elasticities measure how the quantity demanded changes with other variables (e.g. the income elasticity of demand for consumer income changes). Price elasticities are negative except in special cases. If a good is said to have an elasticity of 2, it almost always means that the good has an elasticity of −2 according to the formal definition. The phrase "more elastic" means that a good's elasticity has greater magnitude, ignoring the sign. Veblen and Giffen goods are two classes of good ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PJM Interconnection
PJM Interconnection LLC (PJM) is a regional transmission organization (RTO) in the United States. It is part of the Eastern Interconnection grid operating an electric transmission system serving all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, and the District of Columbia. PJM, headquartered in Valley Forge, Pennsylvania, was the world's largest competitive wholesale electricity market until the development of the European Integrated Energy Market in the 2000s. More than 1,000 companies are members of PJM, which serves 65 million people and has 185 gigawatts of generating capacity. With 1,436 electric power generators and 85,103 miles of transmission lines, PJM delivered 783 terawatt-hours of electricity in 2021. Started in 1927, the pool was renamed the ''Pennsylvania-New Jersey-Maryland'' Interconnection (PJM) in 1956. The organization continues to integrate addition ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carnegie Mellon
Carnegie may refer to: People * Carnegie (surname), including a list of people with the name * Clan Carnegie, a lowland Scottish clan Institutions Named for Andrew Carnegie *Carnegie Building (Troy, New York), on the campus of Rensselaer Polytechnic Institute * Carnegie College, in Dunfermline, Scotland, a former further education college *Carnegie Community Centre, in downtown Vancouver, British Columbia *Carnegie Council for Ethics in International Affairs * Carnegie Endowment for International Peace, a global think tank with headquarters in Washington, DC, and four other centers, including: **Carnegie Middle East Center, in Beirut **Carnegie Europe, in Brussels **Carnegie Moscow Center * Carnegie Foundation (other), any of several foundations * Carnegie Hall, a concert hall in New York City * Carnegie Hall, Inc., a regional cultural center in Lewisburg, West Virginia *Carnegie Hero Fund *Carnegie Institution for Science, also called Carnegie Institution of Washington ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Negative Price
In economics, negative pricing can occur when demand for a product drops or supply increases to an extent that owners or suppliers are prepared to pay others to accept it, in effect setting the price to a negative number. This can happen because it costs money to transport, store, and dispose of a product even when there is little demand to buy it. Negative prices are usual for waste such as garbage and nuclear waste. For example, a nuclear power plant may "sell" radioactive waste to a processing facility for a negative price; in other words, the power plant is paying the processing facility to take the unwanted radioactive waste. The phenomenon can also occur in energy prices, including electricity prices, natural gas prices, and oil prices. Examples Natural gas in West Texas Natural gas prices in the Permian Basin, West Texas, went below zero more than once in 2019. Natural gas is produced there as a byproduct of oil production, but production has increased faster than the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
