Power Fundamentals For Business

Technical Basics for Business Decisions in an Electrified World - Units, Grids, Generation, Markets

What you'll learn

Master the Core Concepts: Clearly differentiate between electricity, power, and energy and understand their practical significance

Explore Power System Operations: Gain a clear understanding of electricity generation, transmission and distribution

Analyze Key Performance Metrics: Interpret performance indicators like thermal efficiency, heat rate, and capacity factor to assess economic viability

Demystify Power Markets: Distinguish between regulated and deregulated electricity markets, and implications for market participants

Requirements

None - a basic understanding of business and economic fundamentals is helpful though

Description

Course ObjectivesDistinguish Core Concepts: Clearly differentiate between electricity, power (Watts), and energy (kilowatt-hours), understanding their practical applications and measurements within the power sector.Comprehend Power System Operations: Trace the end-to-end journey of electricity from diverse generation methods through complex transmission and distribution grids to end consumption.Analyze Performance Metrics: Interpret and apply key power plant performance indicators, including thermal efficiency, heat rate (Million British Thermal Units per megawatt-hour), and capacity factor, to assess operational effectiveness.Understand Power Market Dynamics: Differentiate between regulated and deregulated electricity markets, grasping their unique structures, pricing mechanisms, and competitive landscapes.Apply Foundational Calculations: Perform basic calculations related to power fundamentals, such as determining fuel costs for electricity generation, to gain practical insight into operational economics.Description:In today's rapidly evolving and increasingly electrified world, a robust understanding of power fundamentals is no longer just for engineers, it's essential for every business professional. This concise yet comprehensive course is designed to equip you with the vital technical foundations needed to navigate the complex energy landscape and make informed decisions.What You'll Learn:● Master the Core Concepts: Clearly differentiate between electricity, power (Watts), and energy (kilowatt-hours), and understand their practical significance in the industry.● Explore Power System Operations: Gain a clear understanding of how electricity is generated from diverse sources, how it travels through vast transmission and distribution grids, and how it reaches end consumers.● Analyze Key Performance Metrics: Interpret crucial power plant performance indicators, including thermal efficiency, heat rate (Million British Thermal Units per megawatt-hour), and capacity factor, to assess operational effectiveness and economic viability.● Demystify Power Markets: Distinguish between regulated and deregulated electricity markets, grasping their unique structures, and implications for market participants.Our Unique Approach:This course brings complex principles to life through a highly visual and practical learning methodology. You'll benefit from:● Custom-Made Diagrams: Understand abstract concepts with intuitive visuals, such as our unique water-circuit analogies that simplify electrical principles.● Step-by-Step Examples: Solidify your understanding with practical example calculations, including fuel cost analysis.● Virtual Demonstrations: Witness abstract processes come to life through virtual demonstrations of concepts like heat engine principles and alternating current generation, making learning tangible and memorable.Why Enroll?A deeper technical understanding of power fundamentals will empower you to:● Strengthen your technical foundations in the energy industry.● Make more informed and impactful business decisions.● Enhance your professional credibility and analytical capabilities.● Gain a holistic perspective on the interconnected technical and commercial aspects that drive the modern electrified world.Illuminate your understanding and build your technical foundation with Power Fundamentals: Technical Basics for Business Decisions in an Electrified World.Who this course is for:This course is specifically designed for business professionals engaged in the energy industry, whether you're involved in strategy, negotiations, operational oversight, or market analysis. It is also an invaluable resource for business students exploring the energy sector.

Overview

Section 1: Introduction

Lecture 1 Course Introduction

Section 2: Introduction to Power and Electricity

Lecture 2 Module 1 - Introduction to Power

Lecture 3 Power vs. Electricity

Lecture 4 Power vs. Energy

Lecture 5 Units

Lecture 6 Example Calculations

Lecture 7 Analogy

Lecture 8 AC vs. DC

Section 3: Power Systems

Lecture 9 Module 2 - Power Systems

Lecture 10 Power Generation

Lecture 11 Power Grid

Section 4: Efficiencies, Heat Rates and Capacity Factors

Lecture 12 Module 3 - Efficiencies, Heat Rates and Capacity Factors

Lecture 13 Efficiency

Lecture 14 Heat Rate

Lecture 15 Capacity Factors

Lecture 16 Typical Metrics

Section 5: Power Markets

Lecture 17 Module 4 - Power Markets

Lecture 18 Power Markets - What and Why

Lecture 19 Unique Factors of Power Markets

Lecture 20 Types of Markets

Lecture 21 Key Market Players

Lecture 22 Regulated vs deregulated Markets

Section 6: Wrap Up

Lecture 23 Module 5 - Wrap Up

Lecture 24 Key Takeaways

Lecture 25 Thank you

Business Professionals in the Energy Industry,Aspiring or early stage Power Traders,Business Students exploring the energy world