Quantitative Methods

Modern managers and analysts, both in the energy and the financial sector, have at their disposal large amount of information/data sets and often are called to make efficient decisions based on that information. Therefore, ability to collect, organize and present large amount of data and, at a second stage, to make efficient decisions to minimize the prevailing risk factors is of major importance. The Quantitative Methods course will initiate students into the concepts related to Regression analysis and Statistical inference. In particular, the set of topics that will be examined are: Multiple regression models, Hypothesis testing, Testing Regression Assumptions (Heteroskedasticity, Serial correlation, Multicollinearity), Regression functional forms, Model selection, Models with qualitative dependent variables (Logit & Probit models). Basic objectives of the course are to edify students with theoretical and practical issues of the quantitative analysis. Overall, the course will permit students to familiarize with the usage of modern computer software which is used widely in the business sector. The student may apply into positions which call for data analysis and effective decision making.

Energy Design for Buildings

The course will cover the requirements for energy efficiency within the design process, stages in the design process, energy efficient design brief, sketch design, specific design. The specific factors that affect energy efficiency within heating systems, ventilation systems, air-conditioning systems, refrigeration systems, motors and lighting will be discussed. Special care will be given in Low energy cooling techniques like night-time cooling, ground water cooling, hollow core slab, evaporative and desiccant cooling, free cooling as well as h eat recovery from contaminated air streams using run around coils, thermal wheels, re-generative heat exchangers.

Project Finance

In this course, students will learn the essential procedures for efficient energy project valuation and financing. The concepts of capital budgeting and project financing will be introduced and then the students will learn the investment procedure through theory and carefully selected case studies. In particular, the set of topics that will be examined are: Financial Arithmetic, Capital Budgeting decisions, Net Present Value, IRR, Valuation, Sources of Finance, Optimal Finance Mix, Project Finance, Investment Analysis under uncertainty, scenario analysis, decision trees, simulation, Real Option Analysis and finally, several Case Studies. On completion of the course students will be able to: a) read and understand key financial arithmetic and capital budgeting, b) learn to attract sources of finance to create the optimal finance mix for their energy project, c) analyze their investment and decisions under uncertainty and d) Evaluate and compare their theoretical background with real-life practice through carefully selected case studies.

Project Management

This course aims to provide students the background of Project Management in order to bring about the successful completion of specific project goals and objectives. Familiarizing with the basic principles of project management is a vital ability for all employees in the energy and financial sector. Specifically, in the framework of the module the following disciplines will be thoroughly assessed; planning, organizing, securing and managing resources. Moreover, students will be guided into primary challenges of project management, i.e. meeting the project’s specific goals under project constraints. Scope, time, and budget present such typical constraints. Additionally, techniques towards optimizing the allocation and integration of inputs (e.g. capital, equipment, etc.) necessary to meet pre-defined objectives will be assessed. Emphasis will be also given on managing the project team, which is considered a critical parameter for any project’s success.

Heating, Ventilation and Air Conditioning (HVAC)

The course will explore the fundamentals of heating, ventilating, and air- conditioning (HVAC) systems. Topics include discussion of psychrometrics, air conditioning processes, thermal comfort, indoor air quality and outdoor design conditions. Emphasis on the calculation of heating and cooling load in order to size suitable HVAC equipment, estimate energy consumption of the HVAC equipment, and control HVAC equipment. Both manual and computer methods will be used. As a student in this program you will focus on: Fundamentals of heating, ventilation and air conditioning, hot water systems and refrigeration principles, Industry standardized design practices for residential heating.

Efficient Refurbishment of Buildings

The course will introduce the student to the challenges in addressing the future of sustainable housing development. It will enhance the understanding of sustainable housing development from macro to micro scales and in the same-time develops the necessary qualitative and quantitative analytical skills pertaining to sustainable housing design. It will establish a thorough knowledge of examples and trends in temperate climate housing design, housing policy, energy self-sufficiency and construction technologies as well as a theoretical holistic framework for Zero-Carbon housing design that can be used to produce strategies for future development.

Building Integrated Renewable Energy Systems

This course aims to introduce the students to the theory and practice of integrating renewable energy technologies in the built environment. This includes a wide range of related practical skills such as the ability to assess the potential of sites and the initial cost of installing renewable energy generation and distribution systems. Students will acquire the necessary theoretical and practical skills for using renewable energy technologies in buildings that utilize: Solar, Bio-energy, Geothermal and Wind energy.

Building Energy Performance Simulation and Analysis

The course links’ legislation with the technical understanding required to demonstrate the compliance of a building design/approach. It provides an overview of relevant regulations and assessment tools like BREEAM (BRE Environmental Assessment Method), EPBD (EU Directive on the Energy Performance of Buildings), and others. The focus will be on building regulation compliance assessment, Energy Performance Certificates, Display Energy Certificates (for public buildings) and Sustainable Homes (for domestic buildings).

Energy and Environmental Law

The aim of this course is to introduce students to be able to have an advanced knowledge of the operation of the energy markets, that is to say electricity market, natural gas market and renewable energy sources. In addition, an introduction to oil and gas law (upstream) will be taught.

Energy Transmission and Storage

Aims

The aim of this course is to broaden and expand knowledge of modern energy transmission and storage. More specifically, this course introduces the concept of energy transmission in a variable environment in terms of energy supply and demand. Finally, modern techniques for energy storage (electricity and other forms) are presented.

Learning Outcomes
On completing the course students will:

• Develop knowledge of the technology behind current electrical, natural gas and hydrogen networks
• Develop an understanding of energy transmission in variable and congested network
• Learn to provide power flow control to balance supply and demand
• Acquire management skills in energy storage and network disturbances

Content

• Electrical networks
• Natural gas networks and future hydrogen networks including the technical opportunities, constraints and economics
• Energy demand and supply variation in electrical networks
• Electrical energy transmission in a variable environment and congestion management
• Power flow control. Balancing supply and demand.
• Natural gas networks
• Technologies and prospects for hydrogen transmission
• Energy storage for electrical networks and other forms of energy (gas, electrochemical)
• Managing energy networks in the face of uncertainty and in distributed generation

Forecasting Methods

The increased exposure of energy markets to free competition is a stylized fact for every fast-growing economy on the globe. Incremental competition undeniably increases the risk/uncertainty for every market participant (energy producers, energy utilities, etc.). In a risky environment, it is of an imperative importance for all market participants to make optimal decisions. Therefore, effective model building and precise forecasting for a target variable (energy prices, energy demand) have become a significant comparative advantage for extracting meaningful information from the available data. The course examines in-depth modern model building approaches and forecasting techniques, which are widely used in the energy sector. Topics which are examined include: exploring data patterns, moving averages and exponential smoothing, time-series decomposition, forecasting via dynamic regression models and cointegrated models. Additional topics include AR models, ARIMA models (Box-Jenkins method), univariate and multivariate GARCH models, state space models, non-linear models, long-term forecasting and forecasting evaluation. Provided that the orientation of the course is applied, emphasis will be given on the effective usage of powerful forecasting software and as a result several classes will take place on a lab. The skills developed in the course will be useful for managers and practitioners in maximizing the effectiveness of polices and business decisions. The student may apply into positions, which call for general data analysis and forecasting and monitoring market trends.

Green Design and Planning for Hot Climates

Aims

The objective of this course is to provide an understanding of the organisation and energy supply and demand in an urban environment. The course will present modern cities as an energy system that needs to be accurately modelled and optimised.

Learning Outcomes
The course will make it possible for participants to:

• Familiarise themselves with the growth in energy demand in urban environments
• Understand cities and cities infrastructures as dynamic, complex systems that require dynamic resource allocation to sustain its operation
• Model, analyse and finally optimise an urban environment as a dynamic energy system
• Explore the possibilities of sustainable energy allocation in an urban environment through selected case studies.

Content

• Urbanisation and growth in energy demand
• Cities as dynamic systems
• Characterising city infrastructures
• Complex systems and networks
• Energy supply, conversion and demands in cities
• Resource flows and city sustainability
• Modelling, analysis and optimisation of cities from an energy systems perspective
• Transport modelling; land use interactions and energy demands
• Case studies

Life Cycle Assessment

In order to achieve true sustainability, it is of paramount importance to assess the environmental impact of new products, technologies and systems using a holistic approach that takes into account all the steps in the lifecycle of the system under investigation. Life cycle assessment (LCA) is a fundamental method for assessing the environmental impacts of products and technologies from a "cradle to grave" systems perspective. It is an essential tool for anyone who performs environmental analyses or uses the results of such analyses for decision making. This course will provide an introduction to LCA methods and applications. Besides the LCA methodology, focus will be given on the correct interpretation of the results and the understanding of the strengths and limitations of LCA. The theory taught will be complemented by a case study/project performed by the students, in order to obtain hands-on experience.

Modelling and Simulation of Building Integrated Solar Energy Systems

The course is offered by IHU School of Science and Technology in the frame of the DAAD-funded collaboration program with Hamburg University of Technology (TUHH).
The course aims to provide advanced understanding of solar thermal and PV energy systems and their integration in the built environment. Analytical methods for system components dimensioning and strategies for system operation and control, in order to build the skills required in the design of solar systems will be explained in detail.

The course covers the following topics:

• Solar thermal systems design
• PV systems design
• The solar loop: low-flow and high-flow systems
• Collector fields: hydraulic balancing, orientation, series and parallel connection, shadowing
• Financial evaluation of solar projects
• Simplified design method: F-Chart
• Modelling and simulation tools
• Transient simulation of solar thermal systems for hot water production and space heating
• Worked-out examples of solar system simulations: dimensioning, control strategy implementation, operation optimization

Bibliography:

• John A. Duffie & William A. Beckman, Solar Engineering of Thermal Processes, Editor: John Wiley & Sons, 2006

Smart Cities

Buildings of today are complex. They incorporate various systems and technologies in order to provide an ideal comfort level for their inhabitants. Over time, some of the components might be improved, allowing the buildings occupants to select lighting, security, heating, ventilation and air conditioning systems independently, as if they were putting together a personal computer.

Nowadays, it is not enough for a building to simply contain the systems that provide comfort, light and safety but to connect them in an integrated, dynamic and functional way. In that way, the comfort level of the inhabitants can be secured while minimizing energy cost, supporting a robust electric grid and mitigating environmental impact.

In the course students will be introduced to the various building services installed in buildings to make them comfortable, functional, efficient and safe. They will learn how they can be controlled mechanically or electronically and how they are integrated in to modern buildings.