Distributed energy technology assurance

• US 20030074244A1
• Filed: 04/11/2002
• Published: 04/17/2003
• Est. Priority Date: 04/11/2001
• Status: Abandoned Application

• Current Assignee: Charles R. Braxton
• Original Assignee: Charles R. Braxton
• Inventors: Braxton, Charles R.
• Application Number:
  US10/123,063
• Publication Number:
  US 20030074244A1
• Time in Patent Office: Days
• US Class Current: 705/7
• CPC Class Codes: G06Q 10/06 Resources, workflows, human or project management; Enterprise or organisation planning; Enterprise or organisation modelling
• CPC Class Codes: G06Q 50/06 Energy or water supply
• CPC Class Codes: H02J 3/008 involving trading of energy or energy transmission rights
• CPC Class Codes: Y04S 50/10 Energy trading, including energy flowing from end-user application to grid

Abstract

A system and method for providing value assurance products and services in the context of distributed power projects is presented. Some aspects relate to describing and estimating the remaining life of a project or components of a multi-component distributed power project. The system and method also allow for calculation of residual values of one or more components of the multi-component project, and thereby allow for more economical underwriting policies and more realistic financial risk descriptions, which further allow for mitigating said financial risks. A variety of data are taken as inputs to a processing engine that uses the data inputs as parameters of an economic model and presents outputs from the model to clients over a network. Exemplary inputs include operational data, historical data and jurisdictional data describing rules and regulatory constraints in the jurisdiction in which the project resides.

Claims

1. A method for producing a pricing option corresponding to an economic risk in a multi-component distributed power project, comprising:

collecting operational data corresponding to at least one component of the distributed power project;

obtaining historical data corresponding to said at least one component from a historical data source;

performing a processing function according to a model, which uses the operational data and the historical data, to yield an output corresponding to a future residual value of the at least one component; and

presenting a user with a pricing option for the distributed power assurance service, based at least in part on the future residual value of the at least one component.

2. The method of claim 1, wherein the model is executed on a computer processor.

3. The method of claim 1, further comprising calculating a pricing option for the multi-component distributed power project based at least in part on calculated future residual values of a plurality of components.

4. The method of claim 1, wherein collecting the operational data comprises collecting real-time measurement data obtained through instruments coupled to running equipment.

5. The method of claim 1, wherein collecting the operational data comprises collecting data from equipment operation logs.

6. The method of claim 1, wherein collecting the operational data comprises collecting data from equipment maintenance logs.

7. The method of claim 1, wherein collecting the operational data comprises collecting data relating to any of:

ambient conditions data, fuel efficiency data and equipment duty-cycle data.

8. The method of claim 1, wherein the act of obtaining the operational data comprises obtaining data from any of:

a database, the World Wide Web, the Internet, a local area network and a wide area network.

9. The method of claim 1, wherein the act of obtaining the operational data comprises obtaining data through a land-line communication connection or a wireless communication connection.

10. The method of claim 1, wherein the act of presenting the user with the pricing option is performed using an application service portal (ASP) which the user logs on to for gaining access to the pricing option.

11. The method of claim 1, further comprising collecting jurisdictional data from a jurisdictional data source corresponding to the distributed power project and using the jurisdictional data in determining the pricing option.

12. The method of claim 1, wherein collecting the operational data comprises collecting real-time data from operations within the project.

13. The method of claim 1, further comprising presenting the pricing option to the user as parameters inserted into a standardized document.

14. The method of claim 1, further comprising adaptively updating the model based on the operational data.

15. The method of claim 1, further comprising preparing a standardized assurance document containing information regarding said pricing option.

16. The method of claim 1, further comprising providing the future residual value of the at least one component to an underwriter and the underwriter using the future residual value to mitigate a calculation of the economic risk, said economic risk faced by a party relying on an underwriting evaluation of the project.

17. The method of claim 1, further comprising providing results from the model to an underwriting entity.

18. The method of claim 1, further comprising mitigating economic risks associated with owning or operating or financing the project.

19. A system for pricing assurance services for a multi-component distributed power project, said project having at least one distributed power component, the system comprising:

a source of operational data corresponding to the component;

a source of historical data corresponding to the component;

a computer processing engine that receives the operational data and the historical data and uses a model to produce a pricing option corresponding to an assurance service for the project; and

a server, receiving the pricing option from the computer processing engine, coupled to a network and running an application service portal (ASP) application by which a user can receive the pricing option from the server.

20. The system of claim 19, wherein the network is the Internet.

21. The system of claim 19, further comprising an instrument coupled to the component, said instrument adapted for providing measurement information related to operation of the component.

22. The system of claim 19, wherein the server delivers the pricing option to the user in the form of a standardized document.

23. The system of claim 19, further comprising a market exchange unit, coupled to the network, said market exchange unit executing transactions for the transfer of equipment and services relating to the distributed power project.

24. A method for quantifying an economic risk to an underwriter insuring a multi-component distributed power project, comprising:

collecting operational data corresponding to a component of the multi-component distributed power project;

obtaining historical data corresponding to the component of the multi-component distributed power project;

estimating a remaining useful life of the component at least as a function of the operational data and the historical data;

estimating a future residual value of the project at least as a function of the remaining useful life of the component; and

determining the economic risk for the underwriter as a function of at least the future residual value of the project.

25. An application service portal (ASP), comprising:

a processing engine receiving operational data and historical data corresponding to a component of a multi-component distributed power project, the processing engine adapted for carrying out calculations to yield a pricing option using the operational and the historical data;

a World Wide Web server accessible to a client over a network, the server receiving results of the calculations from the processing engine;

wherein the ASP presents said pricing option to said client.

26. The method of claim 25, wherein the calculations are actuarial calculations.

27. The ASP of claim 25, wherein the processing engine further receives jurisdictional data corresponding to a jurisdiction in which the project operates, and wherein the jurisdictional data is used by the processing engine to yield the pricing option.

28. A method for estimating an economic risk associated with a contract for sale or service of a multi-component distributed power project, comprising:

breaking the multi-component project into at least two discrete components;

collecting live operational data corresponding to at least one of the at least two discrete components;

collecting historical data corresponding to said at least one discrete component;

estimating the useful remaining life of said at least one discrete component;

estimating the residual value of the at least one discrete component at a future date;

estimating the residual value of the project based at least on the estimated residual value of the at least one discrete component; and

estimating the economic risk associated with the contract based at least on the estimated residual value of the project.

29. A method for underwriting a distributed power project, comprising:

dividing the project into discrete components which can be analyzed individually;

estimating a remaining useful life of at least one discrete component of the project based at least on operational data and historical data corresponding to the discrete component;

estimating an accrual rate for upkeep services associated with maintaining the at least one discrete component;

using the remaining useful life and the upkeep accrual rate to calculate a residual value for the at least one discrete component; and

providing an option for underwriting the distributed power project based at least on the residual value.

30. The method of claim 29, wherein the operational data comprises data relating to any of:

ambient conditions data, fuel efficiency data and equipment duty-cycle data.

31. The method of claim 29, further comprising collecting jurisdictional data from a jurisdictional data source corresponding to the distributed power project and using the jurisdictional data in underwriting the project.

32. The method of claim 29, further comprising placing funds from a client into an escrow account and using the funds as a guarantee that upkeep practices comport with an upkeep standard.

33. The method of claim 29, further comprising forming a contract between an upkeep assurance unit and a maintenance provider such that the maintenance provider receives upkeep business in exchange for returning upkeep data to the upkeep assurance unit.

34. The method of claim 29, further comprising providing the residual value to an underwriter and using the future residual value to mitigate an economic risk.

35. A system for providing project value assurance services in a distributed power project, comprising:

a jurisdictional knowledge unit that receives and parses information relating to a jurisdiction within which the distributed power project resides;

an economic processing engine, receiving information from the jurisdictional knowledge unit, said economic processing engine performing calculations; and

a user interface, receiving an output from the economic processing engine, said user interface providing a user with a standardized document in response to user input containing information about the project and the jurisdiction in which the project lies.

36. The system of claim 35, further comprising an upkeep assurance unit that assures a minimum level of maintenance for equipment associated with the project according to some pre-defined maintenance schedule.

37. The system of claim 35, further comprising an escrow unit for maintaining funds related to upkeep of the equipment.

38. The system of claim 35, further comprising a market exchange unit that facilitates transfer of assets from one owner to another owner.

39. The system of claim 35, further comprising a jurisdictional database coupled to the jurisdictional knowledge unit, said database containing information relating to rules in a plurality of jurisdictions.

40. A method for producing a pricing option corresponding to an economic risk in a multi-component distributed power project, comprising:

collecting operational data corresponding to at least one component of the distributed power project;

obtaining historical data corresponding to said at least one component from a historical data source;

performing a processing function according to a model, which uses the operational data and the historical data, to yield an output corresponding to a future residual value of the distributed power project; and

presenting a user with a pricing option for the distributed power assurance service, based at least in part on the future residual value of the at least one component.