Cost-Benefit Analysis

Chris and I worked on a Cost-Benefit Analysis for using motion sensors in the hallways of the dorms. This was applied to one hall in the Babcock dorm.

Info:

$ 100 – Motion sensor

36-W twin light bulb

$.09 per kWh, average cost for power in NC in May 2006

-Average 6 hours a day of lights off (best estimate based on observation of hall usage assuming the lights will be mostly off during the hours of 3AM-8AM) / leave the lights on during peak times 10AM-10PM, put it on timer the rest of the day, go to timer from 10PM-10AM

Initial Calculations:

72 (amount of watts per hour for light bulb due to two tubes in each) x hours = number kWh per light

24 hours a day = 1.73 kWh

18 hours a day = 1.30 kWh

Formula:

Number of lights in hallway x (1.73 or 1.30) = per hour for the hallway

Hallway x 24 or 18 x 7 days a week x 52 weeks = usage per year

(Usage per year x .09) + 100 = cost

Cost per 24 – cost per 18 = savings

Calculations:

9 bulbs x 1.73 kWh = 15.57 kWh per 24 hours for the hallway

15.57 kWh x 7 days a week x 52 weeks a year = 5667.5 kWh per year

5667.5 kWh per year x .09 per hour = $510 for one year without motion sensors

9 bulbs x 1.30 kWh = 11.7 kWh per 18 hours

11.7 x 7 x 52 = 4258.8 kWh per year

4258 kWh per year x .09 per hour = $383 for one year with motion sensors

$510 - $383 = $127 savings per year for one hall in Babcock residence hall

Note:

A) The $127 savings does not include the $100 for motions sensor and installation, but that would be a one time cost while the $127 would be saved every year.

B) One thing we did not factor in was the effect of turning the lights on and off. It would have some impact, but not enough to overcome the 127 dollars saved.

In our opinion it would be very beneficial to have motion sensors in the hall way.

The economics of global warming: Stern

Hey guys,

For Thursday we'll be talking about the economics of global warming. Go ahead and look for sources. We'll be centering the discussion on the executive summary of the Stern Review which was commissioned by the British government. There is a lot of other information on the page you might want to look at. Also, don't hesitate to go to some places that might have a different opinion about things, or even places that might have a known bias, just to see what the landscape is like. If you find other things, go ahead and post them to the blog.

Energy Efficient Cars

This website had some really good information on the most energy efficent vehicles of 2007 and a link to other articles and info on environmentally friendly vehicles!!

WFU and Solar Cells

Found this article on the Student Page, Wake Forest research has improved the efficiency of solar cells with nanotechnology.

The Tesla now has competition!

Hi Folks,

Check out this new car from Zap. This company has a line of small electic cars and truck that use lead acid batteries. But this new model is truly state-of-the-art! To see their other cars (some of which sell for under $10k), check out www.zapworld.com.

JimC

The Cost of Reducing Carbon Emissions: Lessons from Portland, Oregon

This is an interesting article discussing steps that Portland, Oregon took that has reduced carbon emissions since 1993. These steps include increasing public transit and building 750 miles of bicycle paths.

GM's plan to reduce CO2 emissions

HEY! this is an interesting article about how GM plans to reduce CO2 emissions by 40% by 2010. (pretty ambitious)

GM's plan

The first article I found is one in Business Weekly that features a lot of discussion of the economic side of alternative energy. It discusses details about the viability of various forms of energy, as well as what the government is currently doing to encourage use of other forms of energy.

Another article I found was actually a cover story in Sports Illustrated. It discusses the impact of climate change on the sporting landscape. This is an interesting read because it gives a different look at the impact that drastic climate change can have on all aspects of life.

Debate over Ethanol

I found this article that debates the potential risk of smog from ethanol. It was written yesterday, and is an interesting article because it is debate-style and tries to present two sides of the issue as opposed to some of the older articles we have read that are much more one-sided.

Cost of a Species

This article (click the first result) looks at how the Willingness to Pay per Household is calculated for a species. It also gives some of the dollar amounts for a species, it seems that what people are willing to pay for a species is more than what was thought.

Powerpoint about energy consumption

Here's a link to a page which contains a great powerpoint. The link for the powerpoint is at the top of the box on the upper right of the page. This powerpoint is from Nate Lewis, a chemistry professor at the California Institute of Technology. It talks about calculated values for mean energy consumption and breaks down the energy consumption into the specific sources of energy. Also, the powerpoint gives info on a variety of carbon-free power sources.
Powerpoint

Kyoto's Flexibity Mechanisms

If you want to find out about how emissions trading works in the Kyoto Treaty then this is a great great site. It talks about all three ways that Kyoto creates flexibility and some of the pros and cons of being able to trade emissions.

go here

www.teslamotors.com

How much and who pays?

Hey guys,

Here are several articles that we'll be discussing for class. The first is by philosopher Peter Singer and talks about who should pay for mitigating global warming. The next article is by Jeffrey Sachs, head of Columbia University's Earth Institute and talks about humans and biodiversity in Absent Minded Killers.

In addition to these largely moral arguments, there is a lot of information about the economic cost of mitigating global climate change. Joseph Stiglitz is a Nobel Prize winning economist and had this article on the Cool Calculus of Global Warming. Make sure to read this article on The Changing Climate of Climate Change too.

We'll be sending you the exact assignment by email.

Enjoy!