Deriving an Improved Dynamic EROI to Provide Better Information for Energy Planners
AbstractThe two most frequently quantified metrics of net energy analysis–the energy return on (energy) investment and the energy payback period–do not capture the growth rate potential of an energy supply infrastructure. This is because the analysis underlying these metrics is essentially static–all energy inputs and outputs are treated the same, regardless of where they occur in the life cycle of the infrastructure. We develop a dynamic energy analysis framework to model the growth potential of alternative electricity supply infrastructures. An additional figure of merit, the infrastructure doubling time, is introduced. This metric highlights the critical importance of the time phasing of the initial energy investment for emplacing a given infrastructure, as opposed to the ongoing O&M energy expenditures, for the infrastructure’s growth potential. The doubling time metric also captures the influence of capacity factor, licensing and construction time lags.
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Bibliographic InfoArticle provided by MDPI, Open Access Journal in its journal Sustainability.
Volume (Year): 3 (2011)
Issue (Month): 12 (December)
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Web page: http://www.mdpi.com/
doubling time; dynamic EROI; sustainability; net energy;
Find related papers by JEL classification:
- Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics
- Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General
- Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
- Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
- Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
- Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
- O13 - Economic Development, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
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- Munro, John H., 2002. "Industrial energy from water-mills in the European economy, 5th to 18th Centuries: the limitations of power," MPRA Paper 11027, University Library of Munich, Germany, revised Jun 2002.
- Berndt, Ernst R., 1982. "From technocracy to net energy analysis : engineers, economists and recurring energy theories of value," Working papers 1353-82., Massachusetts Institute of Technology (MIT), Sloan School of Management.
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