Thursday, April 10, 2014

Inspiration and Thought Process

Why did we do this topic on the Cost of Different Sources of Energy?

It is said that Energy is one of the 15 First World Problems, due to its demand. And this demand is increasing rapidly over the years as technology evolves.
"In just 38 years, the world should create enough electrical production capacity for an additional 3.3 billion people. There are 1.3 billion people (20% of the world) without electricity today, and an addition 2 billion people will be added to the world’s population between now and 2050."(Millennium, 2009).

This means that the production of energy must keep up to the world population (or rather those who could afford it.) Thus, more of this such energy generators must be built in order to keep up with the demands. And this comes to our research: Whats the cost of this various different energy sources.

Thoughts of the Topic on the Cost of Energy...

At the start we just limited ourselves to monetary costs like the cost of building up the source, maintenance and initial start-up cost .etc To sum it up the Levelized Cost of Energy, LCE or sometimes known as LCOE.(Rozenblat, 2010)

After some prodding from Mr Tan, (IRS Teacher-in-Charge) we come up with the environmental cost as in the impact done on the environment by energy generator. An example would be how the emissions of burning fossil fuels would pollute the air.

Next, Mr Tan suggested to us the political cost. However, Yash and I decided not to work on politics due to our lack of interest. This was a mistake on our side, as we couldn't back up much of our research now.

Also, later in the term we thought of the health impact. How this energy sources would harm our health. An example would be how Solar Power cause electromagnetic radiation which would cause people to fall sick and become restless..(Wellspring, 2014). 

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