From financial and economic perspective the underlying principles for feasibility analysis is to match the anticipated cash flows to firm’s future expenditure policy and to correct the future cash flows to a common time base. This will then allow us to calculate the Net Present Value (NPV) of the investment based on principles of time value of money. (Ryan 2008)
From technical point of view the power flow analysis is fundamental to design and implementation of all power systems like ‘planning of additions or expansion to transmission and generation facilities.’ (Grigsby 2012) Respectively the underlying principle for design and implementation of power transmission and distribution systems is highly dependent upon consumer characteristics: leading to the fact that consumption is a measure of revenue and return on investment in power systems. (Pansini 1991)
‘ISO 14001 sets out a clear requirement that all parameters associated with the operation of the EMS [Environmental Management System] must be monitored and recorded to ensure that changes do not occur that may lead to environmental damage’ (Morris 2004). Accordingly in order to achieve this our strategy is to choose suitable measuring instruments, to assess the conditions in which instruments will have to operate, to assign right responsible people for such tasks, to eliminate calibration errors and to consider accuracy of all other measurement processes. Additionally complying with International Performance Measurement and Verification Protocol (IPMVP) and also complying with standards from the regional third party regulatory bodies (e.g. LEED and BREAM) are indicative in laying out our measurement and calibration scenarios.
Based on ISO 50001 standard there are three categories of core technical principles – energy efficiency, energy performance and energy measurement – for carrying out implementation of successful Energy Management Systems (Wooding and Oung 2013). These categories of activities broadly identify relevant systems and technologies that we use for measurement and calibration of energy and eventually implementation of suitable solutions. Additionally complying with International Performance Measurement and Verification Protocol (IPMVP) and also complying with standards from the regional third party regulatory bodies (e.g. LEED and BREAM) are indicative in laying out our measurement and calibration scenarios.