Reference no: EM133368303

Assessment - Energy Audit and Energy Assets Management

Overview - Industrial Application of Energy Audit

The excessive use of energy in industrial sectors always necessitate to questions on how energy can be used more efficiently. The challenges associated with the cost and price of electricity, renewable energy, energy security, and sustainability is now and area of interest. The risk of asset failure and reliability can lead to uncertainty in asset performance hence energy shortage. Performing an energy audit would enable the energy audit analyst to carefully evaluate the efficient use of energy. Problems are likely to occur when conducting energy audits for industrial/manufacturing facilities than for smaller commercial facilities or even large buildings since the equipment and operation of industrial facilities are more complex.

In this coursework, you are expected to choose an industrial asset/facility and perform an energy audit and conduct failure analysis and discuss the risk management process to be put in place to ensure energy security. Identify specific areas where potential problems can occur and conduct reliability analysis. Develop methods and clearly explain the approaches used to address the problems.

List the equipment/facility and estimate its energy consumption and demand where necessary use the data collected from the facility such as failure of the equipment, operating hours and consumption (expressed either in kWh, Therms, etc...). Develop energy balance for a list of Energy Conservation Measures (ECM). Use at least two ECM categories and consider the energy streams by discrete functions.

Discuss the data/information, tabulate the data and carry out exploratory analysis for the data (such as event frequencies, histogram, or bar charts) and discuss issues identified with the data information. Use suitable statistical, reliability and risk management techniques from your lecture notes.

Firstly, obtain data information about the energy consumption of the system, failures, usage and maintenance at the present state and identify the factors affecting it the system. Secondly, identify the economic opportunities for improving the efficiency of the system and achieving potential cost savings. Give concluding remarks and recommendations based on your findings.

Question 1: Discuss the challenges of energy scene and relate it to audit process and industrial audit opportunities. Clearly define the types of energy audits and show how it applies to the industrial facility under study.

Question 2: Give an explanation of the types, phases and process of energy audit components relating to the industrial facility investigated and define the energy conservation measures (ECM) considered and why?.

Question 3: Conduct an energy accounting data analysis, statistical and reliability analysis of your industrial facility selected and discuss the risk management process. Use graphs/charts to show the load factor, consumption trends and failure frequency.

Question 4: From the perspective of life cycle costs, the cheapest investment is usually not the most economical choice. If life cycle costing is considered in decision making, justify the choice in making decisions on the investment.

References and appendices (use Harvard referencing or numeric style)