Economically efficient energy choices

See also Batteries Capital Investment Decisions Consumption Economically Efficient Energy Choices Electricity Electric Power, Generation of Faraday, Michael Fuel Cells Fuel Cell Vehicles Magnetism and Magnets Oersted, Hans Christian Tesla, Nikola. 

See also Auditing of Energy Use Capital Investment Decisions Economically Efficient Energy Choices Energy Economics Industiy and Business, Productivity and Energy Efficiency in. 

See also Consei vation of Energy Consumption Economically Efficient Energy Choices Efficiency of Energy Use. 

Economically Efficient Energy Choices William S. Peirce... 

Even when the time comes to make a purchasing decision, an energy-efficient motor purchase is not a certainty. Sometimes an energy-efficient motor will be the economically efficient choice at other times, not. The capital investment decision is based on the cost in relation to performance, efficiency and reliability. Moreover, the decision depends on the application and the amount of time the motor is in operation. It can be the major component of a product (drill or mixer), or a minor component (computer disk drive) it can be the major component cost of a product (fan), or it can be a minor component cost (stereo tape deck) it can run almost constantly (fan, pump, and machinery), or only a few minutes a day (vacuums and power tools). For example, contractors purchase circular saws almost solely based on performance and reliability. Time is money, and since the saw is operating only a few minutes a day and the contractor is often not responsible for the electricity costs to run the motor, energy efficiency is not a consideration performance and reliability are what matter most. On the other hand, an industrial user, who runs huge electric motors twenty-four hours a day to work pumps, machinery, and ventilation equipment, is very concerned tvitli energy efficiency as well as performance and reliability. 

The choice of process depends on site requirements and the economics of heat recovery and gas compression. Nowadays, atmospheric pressure plants have become obsolete and single-pressure plants operate at 10 bar, which reduces the equipment size and capital cost, and the higher gauze temperature and pressure lead to a more efficient energy recovery. 

The initial rejection of the efficient heat pump by many consumers may be well founded or not. In addition to the sound economic rationales for rejection, there may be market-impediment explanations. Consumers may have imperfect information and be unaware of the energy savings of new, efficient technologies. The transaction cost of accjuiring information and making an efficient choice may be just too high. Because of these impediments, households often fail to make investments that would actually save them money over time. 

We are optimistic that the world in 2030, while still heavily dependent on cleaner fossil fuel use, will be one in which growing demand for electricity as a preferred energy source, new inherently safe nuclear power designs, and dramatic improvements in the economics of renewable technologies and end-use efficiency, will provide a broad spectrum of clean, low-cost reliable electricity choices for the marketplace. 

---