Glossary

The ratio between the useful energy output from an energy conversion device and the energy input into it. For example, the conversion efficiency of a PV module is the ratio between the electricity generated and the total solar energy received by the PV module. If 100 kWh of solar radiation…

A contract between two parties, stipulating that each will pay to the other the difference between an agreed price and the market price on a given payment date, depending on the market price at the time. A good example in project financing is the CfD mechanism used to support renewable…

A document which states the Agreed Capacity for a property with the local Distribution Network Operator (DNO)

When electricity is generated up to 60% of the energy produced can be wasted as lost heat. Combined Heat and Power schemes are designed to recover most of this waste heat and use it to power a turbine and generate more electricity. In well-designed installations these can contribute to lowering…

A form of electrical power generation which uses two generating methods (cycles) in tandem to achieve higher generation efficiency. The first cycle is based on a high-speed turbine, which burns fuel (typically gas) to generate power. The hot exhaust gases from the first cycle are fed to a steam turbine,…

A system in which fuel is used to simultaneously produce electrical (or mechanical) power plus recovered useful thermal energy for use in cooling & heating.

Coal is ground to fine powder and then burned in huge boilers to heat water. The steam produced passes through a turbine, making it rotate and generating electricity which is then fed into the national grid. Coal powered plants have been the mainstay of the industry for decades and account…

A range of products, services and processes which reduce the use of natural resources and cut or eliminate emissions and waste. It was considered a niche area of investment two decades ago but has become a focus for most major companies.

In relation to carbon emissions, carbon dioxide (CO2) is measured in tonnes. A typical household has around 10.9 tonnes of CO2 emissions per year.

There are six main greenhouse gases which cause climate change and are limited by the Kyoto protocol. Each gas has a different global warming potential. For simplicity of reporting, the mass of each gas emitted is commonly translated into a carbon dioxide equivalent (CO2e) amount so that the total impact…