The economics of power plant is greatly influenced by:
- Diversity factor
- Load factor
- Both of these
- None of these
Correct answer: 3. Both of these
Explanation: Both the diversity factor and load factor are related to electrical power systems.
- Diversity Factor:
- Definition: Diversity factor is the ratio of the sum of the individual maximum demand of a system to the maximum demand on the system.
- Explanation: In simpler terms, it represents the extent to which the total load on a system is less than the sum of the individual loads. It takes into account the fact that not all devices or loads connected to a power system operate at their maximum demand simultaneously. For example, in a residential area, not all appliances are used at full power simultaneously, leading to a diversity factor less than 1.
- Load Factor:
- Definition: Load factor is the ratio of the average load to the peak load in a specified time period.
- Explanation: Load factor is a measure of how efficiently the electrical power system is being utilized over a given time period. A higher load factor indicates a more consistent and efficient use of power, while a lower load factor suggests fluctuating and less efficient usage. It is calculated by dividing the total energy consumed during a specific time period by the product of the maximum demand and the duration of that period.