Economics of Energy Generation and Conservation Systems*
Anyone who believes exponential growth can go on forever in a finite world is either a madman or an economist.
Kenneth Boulding (ca. 1980)
This chapter and the next one present useful analysis tools that engineers should understand. These include a basic process for economic assessment, energy flow analysis, and resource accounting methods for complex energy systems. The objective of economic assessment is to provide useful financial insight and enable a comparison between various energy options. No familiarity with microeconomics is presumed and, given the uncertainty in predicting a future economic environment, one could argue that added complexity may not be warranted. The standard ...
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