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..
Masters students of Energy Systems Engineering. UG students of Mech, Elec, Chemical interested in Energy
ABOUT THE INSTRUCTOR
Rangan Banerjee is the Forbes Marshall Chair Professor and Head of the Department of Energy Science and Engineering at the Indian Institute of Technology Bombay .He works on energy efficiency and renewable energy, modelling of energy systems, energy planning and policy
1. Join the course
Learners may pay the applicable fees and enrol to a course on offer in the portal and get access to all of its contents including assignments. Validity of enrolment, which includes access to the videos and other learning material and attempting the assignments, will be mentioned on the course. Learner has to complete the assignments and get the minimum required marks to be eligible for the certification exam within this period.
COURSE ENROLMENT FEE: The Fee for Enrolment is Rs. 3000 + GST
2. Watch Videos+Submit Assignments
After enrolling, learners can watch lectures and learn and follow it up with attempting/answering the assignments given.
3. Get qualified to register for exams
A learner can earn a certificate in the self paced course only by appearing for the online remote proctored exam and to register for this, the learner should get minimum required marks in the assignments as given below:
CRITERIA TO GET A CERTIFICATE
Assignment score = Score more than 50% in at least 9/12 assignments.
Exam score = 50% of the proctored certification exam score out of 100
Only the e-certificate will be made available. Hard copies will not be dispatched.”
4. Register for exams
The certification exam is conducted online with remote proctoring. Once a learner has become eligible to register for the certification exam, they can choose a slot convenient to them from what is available and pay the exam fee. Schedule of available slot dates/timings for these remote-proctored online examinations will be published and made available to the learners.
EXAM FEE: The remote proctoring exam is optional for a fee of Rs.1500 + GST. An additional fee of Rs.1500 will apply for a non-standard time slot.
5. Results and Certification
After the exam, based on the certification criteria of the course, results will be declared and learners will be notified of the same. A link to download the e-certificate will be shared with learners who pass the certification exam.
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 Factor
Week 2: Energy and Quality of Life, Energy Inequality, Energy Security, Introduction to Country Energy Balance assignment
Week 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 model
Week 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 , Externalities
Week 8: Financing Energy – Debt/ Equity- Sources of funds, innovative financing models
Week 9: Input Output Analysis
Week 10: Primary Energy Analysis, Net Energy Analysis, Examples, Energy Cost of Energy, Life Cycle Analysis of Bioenergy
Week 11: Net Energy Examples, Energy Policy
Week 12: Energy Policy Examples, Practice problems solution
Books and References
1. GEA, 2012: Global Energy Assessment – Toward a Sustainable Future, Cambridge University Press, Cambridge, UK and New York, NY, USA and the International Institute for Applied Systems Analysis, Laxenburg, Austria. ( mainly Chapter 1 – Energy Primer pp. 99-150, Chapter 3- Energy and Environment-pp. 191-254.Chapter 4 – Energy and Health pp. 255-324).
2. Conrad, J. M., Resource Economics, 2nd Edition, Cambridge University Press, New Delhi, 2010.
3. Tester J.W., Drake E.M., Driscoll M. J., Golay, M.W, Peters, W.A.,Sustainable Energy Choosing Among Options, PHI Learning Private Limited,New Delhi, 2009.
4. J.M. Conrad and C.W. Clark, Natural Resource Economics, Cambridge University Press (1987).
5. Charles Kolstad, Environmental Economics, Vol. 1, Oxford University Press (1999).