We are continuously working on expanding our energy vocabulary, please feel free to send us some more ideas:
AC: Alternative Current, a current that constantly changes direction between positive and negative sides. Almost all power for homes in the United States shifts direction at a rate of 60 times per second (60 Hertz or 60 Hz).
Alternative Energy: see renewable energy sources
EROI: EROI stands for Energy Return On Investment. This number is used to quantify how much energy can be extracted from a fuel compared to the energy cost to produce that fuel at all stages of production. The EROI for fossil fuels is anywhere from 10 – 20, meaning 10 to 20 times as much energy can be extracted from the fuel than was required to produce it. On the other end are new nuclear reactors, which can be as high as or higher than 80.
Exploratory oil drilling: temporary wells that an oil company drills in an area with a suspected oil deposit. Once the company locates oil located and deems that the deposit is large and high-quality enough, it proceeds in building a production well. Example: After Burnett Oil has located a potential oil deposit through a seismic survey, it will conduct exploratory oil drilling in order to find the most lucrative area for a production well.
Grid Parity: Grid parity is when a certain energy source reaches a equal or lower LCOE, meaning it costs as much or less than to use renewable energy in place of fossil fuels.
kWh: kWh is an abbreviation used to describe 1 kilowatt of power expended over 1 hour. Similarly, you can find mWh for megawatt hours, or gWh for gigawatt hour. Electricity bills are generally paid in cents / kWh.
LCOE: LCOE stands for levelized cost of energy. This figure takes all of the monetary costs of building, operating, and providing fuel to a power planet and divides that by the total energy produced by that power planet over its lifetime to get the average cost per kWh.
Non-surface lease: type of oil and gas lease in which the lessee may not use the surface of the lessor’s land for any purpose (but lessee may drill under the property). Example: ExxonMobil offered the Miller family a non-surface lease because of fracking site’s close proximity to the family’s property.
Seismic survey permit: authorization from the property-owning entity (e.g. private landowners, government agencies with jurisdiction) that a party must acquire in order to conduct seismic activities in a given area. Example: Burnett Oil Co. has applied for a seismic survey permit in the Big Cypress Nature Preserve. The property owning entity in this case is Collier Resources Company, which holds private mineral rights to the reserve.
Watt: A watt is the unit used to measure power, including but not limited to electrical power, i.e. rate at which energy is generated or consumed. A kilowatt is a thousands watts.