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This course will equip students with the tools necessary for economic analysis and quantification of impacts of energy systems. We will review the availability of energy resources and study methods for quantification of resource depletion and scarcity. The course will cover basic concepts in economics and their application to energy systems. Tools and techniques for project economics for an individual/ company perspective and macro-decision making for society will be introduced. We will discuss basic concepts of welfare economics and environmental economics that are necessary for energy systems analysis and their environmental impacts..INTENDED AUDIENCE :Masters students of Energy Systems Engineering. UG students of Mech, Elec, Chemical interested in EnergyPRE- REQUISITES : NilSUPPORT INDUSTRY :Nil<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}-->
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Week 1: Energy Flow Diagram ,Global Trends in Energy Use, India and World- Disaggregation by supply, end use, Energy and Environment, The Kaya Identity, Emission FactorWeek 2: Energy and Quality of Life, Energy Inequality, Energy Security, Introduction to Country Energy Balance assignmentWeek 3: Energy Economics - Simple Payback Period, Time Value of Money- discount rate, Criteria for Assessing Energy Projects –(Net Present Value (NPV), Benefit/Cost Ratio (B/C), Inflation, Internal Rate of Return (IRR)Week 4: Resources & Reserves Growth Rates in Consumption, Estimates of Duration of Fossil Fuels, McKelvey Diagram, Peak oil, Hubbert’s modelWeek 5: Materials used in renewable energy (Kuznet’s Curve, Betting on the planet, Simon’s Change), Non Renewable Energy Economics (Hotelling’s Rule)Week 6: Preferences and Utility, Utility and Social Choice
Week 7: Public and private goods / bads, Demand curves , ExternalitiesWeek 8: Financing Energy – Debt/ Equity- Sources of funds, innovative financing modelsWeek 9: Input Output AnalysisWeek 10:Primary Energy Analysis, Net Energy Analysis, Examples, Energy Cost of Energy, Life Cycle Analysis of BioenergyWeek 11: Net Energy Examples, Energy PolicyWeek 12:Energy Policy Examples, Practice problems solution
In addition to the lectures there will be few Live Interactive Sessions.
