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日期：2022-07-20 07:33

SPG8024 – Quantifying Energy Decision Making

Module Assessment

Achievement of the SPG8024 module learning outcomes is assessed based on a report.

Submit your work on Canvas page in the 'Assignments' area

The deadline is 2 pm on Friday 19 August 2022.

Details of the report requirements are given in this document.

While carrying out this activity, consider that the task you have been given and the associated report

are designed to assess your understanding of the knowledge and skills listed below. Critically review

your work to check that you have demonstrated your learning for each of these. After doing this

review and, if necessary, modify your report to ensure it includes each element.

Elements of knowledge and skill being assessed

1. Concepts of heat, temperature, energy, and power. How they are used to express energy

system properties and performance.

2. The correct way to express physical quantities (including those above) across a wide range of

magnitudes in the International System of units (SI).

3. The effect of the time value of money on investments in long-term projects, as characterised

by energy system technologies.

4. Project financial appraisal measures; lifetime cost, cost-benefit ratio, payback period, internal

rate of return, unit production cost.

5. Fundamental concepts in power systems; supply & demand, availability, security of supply,

reliability, capacity factor, capacity margin.

6. How existing generation and demand dictate the role of existing and future generation within

an electricity supply system; how energy markets, generator marginal costs, and generator

merit order affect these roles.

7. How power generation projects can contribute to the economic, sustainable, and reliable

operation of an electricity supply system, and when and how additional incentives may be

required to achieve this.

8. Exploitation of renewable energy resources with consideration of; availability, system

integration, economic, social, and political factors.

SPG8024 2021-22 Assessment

2

Task Specification

Part A (~60% relative effort)

You will be provided with information about an island electricity supply system and a range of

electricity generation technologies. You will take the role of a consultant employed by the developer

of a new generation project on the island. Your client wishes to develop a new project using a specific

technology and with a defined budget for construction. You will

1. describe the operation of the new generation technology, including the physical principles

(with use of appropriate mathematics) that explain the energy conversion process and

resource availability,

2. determine the average market clearing price (MCP) of electricity supply on the island before

the addition of the new generation technology using the information provided about the

generation and demand characteristics,

3. determine the capacity the new generation technology, its effect on the average market

clearing price and the number of hours it will operate each year,

4. complete a financial appraisal to give the NPV, IRR, PP, CBR and LCOE (spelt out below), and

5. compare the LCOE of the new generation technology with the average MCP and whether any

additional support should be provided to encourage the uptake of this technology.

Part B (~40% relative effort)

While the specified technology is the client’s preferred option, they are open to alternative

investments if these would provide a better return on their investment and/or better meet the needs

of the system. You should assess the roles fulfilled by the existing generators on the island and to what

extent they meet the system needs in terms of

a. supplying the baseload, intermediate, and peak demand; and

b. ensuring an affordable, sustainable, and reliable supply of electricity.

You will

1. identify any shortcomings in the ability of the existing generation to meet the need for the

energy system to be resilient and operable,

2. propose an alternative project which can help to improve this situation, and

3. discuss the current political, environmental, and societal issues associated with the generation

mix and how alternative generation technology will affect these.

SPG8024 2021-22 Assessment

3

Report specification

Word count and non-text elements

Approximate word count: 2,000 words. Only the main text is included in this count; the title page,

table of contents, references and similar parts are excluded from the word count.

Non-text elements consisting of diagrams, graphs and tables need to be included to provide

information that cannot be conveyed effectively through words alone. Note that these elements are

essential to include so that your ability to present information in these ways can be assessed.

Clear and concise writing

It is essential that you communicate the information in your report:

Clearly – use an effective structure, use descriptive figure captions, ensure nomenclature is defined,

define the symbols used in equations.

Concisely – ensure that you use as few words as possible to unambiguously explain your work, use

effective referencing to build on the work of others, do not repeat similar information at multiple

places in your report.

Document format

You do not have to use a particular format for the document. Here are some recommendations that

you can follow:

Use Word or equivalent document preparation software.

Use Styles to format headings consistently and auto-generate a table of contents.

Use captions to label your figures and tables, use cross-referencing to refer to these in the

text.

Include references by using a reference management plugin to a programme such as endNote,

Zotero or Mendeley.

Use an 11pt Arial font or similar.

Report sections

Title page

Include your name, student number, module title, date of submission, report title

Introduction

Briefly outline the purpose and content of the report

Technology description

Explain, using concepts from the physics of energy, the operational principles for the energy

conversion process for the technology which you are assessing. It is expected that mathematical

expressions will be used to express factors including, but not limited to: energy resource, power

conversion, energy density and land use.

Price of generation

Determine the average market clearing price (MCP) of the original combination of generators.

Consider that variable generators with a capacity factor (CP) are available for a period equal to the CF

and not available the remainder of the time. Consider that dispatchable generators (with an

availability) are 100% available for the purpose of calculating the MCP. This means that you will calculate six MCPs (two for each of Base, Intermediate and Peak demand periods) and find the time-

weighted average to reach the MCP.

Adding the new generator makes the calculation more complex. You have been provided with a

spreadsheet to allow you to determine the operation of the generators with the new technology

added. Use this to find the new MCP and runtime (hours per year) of the new generation technology.

Financial appraisal

Use the methods you have been shown for financial appraisal to illustrate how the costs and benefits

due to the addition of a new generation technology are assessed over the project lifetime. Your

calculations should include the Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period

(PP), Cost-Benefit Ratio (CBR), and Levelized Cost of Energy (LCOE) for the added generation

technology.

Consider how the existing generation, and resultant market conditions, will affect the project’s

viability. Discuss whether there are reasons to provide financial support to improve the project’s

viability.

Assessment of System Needs

Does the current generation mix meet the needs of the system? Identify areas in which the existing

system is deficient. You should consider:

Affordability

Sustainability (CO2 emissions)

Security of Supply

Operability

Alternative technologies

Based on the deficiencies identified in the previous section, provide a brief review of an alternative to

the project proposed by your client, identify the key differences between them, and how these

differences would address the system needs.

Non-financial appraisal

Discuss factors other than purely financial considerations that your client should be aware of. You

should consider the environmental, social, and political impacts of the new generator.

Recommendation

Advise your client on what they should do next and identify any uncertainties in your appraisal that

should be assessed in more detail to gain a more complete picture of the decision to be made.