The importance of engineering economic analysis for energy related problems of energy use and capital investment decisions is discussed. The basic principles of economic analysis necessary to understand and evaluate energy-related alternatives are also discussed. The concepts of time value of money, present worth, effect of escalating energy costs, levelized cash flows, project life and interest rates are also discussed. Methods used to rationally compare alternatives simple payback period, discounted payback period, internal rate of return and annualized costs are also discussed.
|Original language||English (US)|
|Number of pages||22|
|Journal||ASEE Annual Conference Proceedings|
|State||Published - Dec 1 2003|
|Event||2003 ASEE Annual Conference and Exposition: Staying in Tune with Engineering Education - Nashville, TN, United States|
Duration: Jun 22 2003 → Jun 25 2003
All Science Journal Classification (ASJC) codes