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General Card #2546
Economic Analysis for Renewable Energy Generation
Updated: 10/14/2022 1:14 PM by Michael Johnson
Reviewed: 10/17/2022 8:37 AM by Becky Benishek
Summary
This module introduces students how to carry out economic analysis of renewable energy generation.
Description

This EML module was embedded in Power Systems Analysis. This course is for undergraduates and is fundamental in the power and energy discipline.

Recently, the need to develop low-emission and alternative energy resources drives wind and solar generation construction all over the country. Large penetration of the new generation forms is changing the power industry's landscaping and inspiring instructors to instill new knowledge to power system courses. We embedded the module in Power Systems Analysis course to discuss revolutionary economic and market changes in the power industry caused by renewable energy. In the module, we introduced students to: (a) the shrinking revenue that utilities are facing because the renewable generation reduces their electricity sales; (b) the business innovations that are emerging to take advantage of the new generation forms; and (c) cost-benefit analysis of investing a renewable generation station.

At the end of the module, a final course design project was assigned. In the project, the students were asked to analyze the cost and benefits of building renewable powerplants, explore the market solutions to develop renewable energy generation, and present and submit their final analysis report. In the report, the students should document the project topic, analysis procedure, details of the calculation, costs and benefits description, conclusions, and each member’s contributions.

Curiosity
  • Demonstrate constant curiosity about our changing world
Connections
  • Integrate information from many sources to gain insight
Creating Value
  • Identify unexpected opportunities to create extraordinary value
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