Define the term own price elasticity

Reference no: EM133501369

Problem

A. What is the purpose of the international standard ISO 50001? For a company planning on implementing an energy management program, would you recommend compliance with ISO 50001? Why?

B. Briefly describe the annualised costing methodology used in economicevaluation of energy management projects. Apply the methodology to annualise a capital cost of $3,600 that occurs at the start of a 10 year energy savings project, where the discount rate is 8% and the inflation rate is 2%.

C. In energy metering of electrical appliances, what does the term 'power factor' mean and why is it often important to measure this parameter? What is the difference between a leading power factor and a lagging power factor?

D. Define the term own price elasticity. What information does the own price elasticity factor provideto an energy manager? Calculate the own price elasticity factor for a companythat has reduced its energy usage in peak periods by 20% by changing from a tariff with a peak energy usage charge of 25 c/kWh to a tariff with a peak energy usage of 50 c/kWh.

E. Define the thermal resistance of a building material.Why is the thermal resistance of a standard single glazed window generally quite low? What can be done to increase the thermal resistance of a window in a house or a small commercial building?

Reference no: EM133501369

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