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Power Generation & Storage (4911-PG)

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Power Generation & Storage (4911-PG)
  

Overview of Power Generation & Storage (4911-PG)

— The electric power industry involves the generation, transmission, distribution and sale of electric power to the general public. The electrical industry started with introduction of electric lighting in 1882. Throughout the 1880s and 1890s, growing economic and safety concerns lead to the regulation of the industry. The electric power industry is commonly split up into four processes. These are electricity generation such as a power station, electric power transmission, electricity distribution and electricity retailing. Without the Power Industry, no other industrial sectors could exist, making it the world's largest in the number and value of projects and facilities. As developing economies continue to expand their power bases to meet growing demand, the number of Power Industry projects across the world is constantly increasing. In developed economies, aging infrastructure and increased legislation regarding emissions and the use of renewable energy are driving capital spending. The primary product of the industry is alternating current (AC) electrical power. Electricity is produced by generators that convert mechanical energy into electrical energy when large coils are rotated in a powerful magnetic field. Most commercial power comes from turbine engines powered by steam produced by burning fossil fuels, mainly coal and natural gas. Other power sources include steam from nuclear reactors; conventional hydroelectric conversion; and renewable sources such as solar, wind, and geothermal. This market also includes energy storage devices such as batteries in dry cell, wet cell, lithium ion, alkaline, nickel-cadmium and zinc-chloride types.

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