Energy Resources, Economics and Environment

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Overview

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 Energy PRE- REQUISITES : Nil SUPPORT INDUSTRY :Nil

Syllabus

COURSE LAYOUT Week 1: Issues related to Energy systems- Energy and growth, Country Energy Balance, India and World- Disaggregation by supply, end use Week 2: Energy and Quality of Life, Energy and Equity, Energy and Environment, Kaya Identity Week 3: Energy Economics - Simple Payback Period, Time Value of Money- discount rate, Criteria for Assessing Energy Projects -IRR, NPV Week 4: Life Cycle Costing, Cost of Saved Energy , Cost of Energy generated Week 5: Resources & Reserves Growth Rates in Consumption, Estimates of Duration of Fossil Fuels, McKelvey Diagram, Peak oil, Hubbert’s model Week 6: Energy Chain, Primary energy analysis, Net Energy Analysis Examples, Energy Cost of Energy, Life Cycle Analysis of Bioenergy Week 7: Utility function , Indifference curve, Public goods, private goods, Pareto Optimality, Intergenerational Equity, Week 8: Quantifying Environmental impacts, DALY, ,Emission factors, Emission inventories Week 9: Energy Economy models- Input Output Analysis Week 10: Economics of natural resources – scarcity, non-renewable resources, Hotelling’s rule, renewable resource economics Week 11: Financing Energy – Debt/ Equity- Sources of funds, innovative financing models Week 12: Energy Policy ,Future Sustainable Energy Systems