English Glossary

operation and maintenance

operations and maintenance agreement

open cycle gas turbine

The Organisation for Economic Co-operation and Development

An off-grid renewable energy system is a renewable energry system not connected to the national grid, e.g. an off-grid PV system.

(Also called: offtake purchaser). The purchaser of a project’s output.

VOC - the maximum voltage produced by an illuminated photovoltaic cell, module, or array with no load connected.

Project revenues less cash operating expenses.

Regulations relating to a system’s operation.

Generating capacity available to an electricity network operator which can be activated within a short interval of time in order to meet demand if a generator goes down or there is another disruption to the supply.

Cost, technology, and management components which affect operating expenses, output, or throughput.

Costs of running a project.

A contract obligating a party (usually the manufacturer of the project's equipment) to operate and maintain the project.

operational expenditure

In microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone, in a situation in which a choice needs to be made between several mutually exclusive alternatives given limited resources. Assuming the best choice is made, it is the 'cost' incurred by not enjoying the benefit that would be had by taking the second best choice available

operating reserve

Organic Rankine Cycle

Substances that contain carbon, originating from living matter.

The Organic Rankine cycle (ORC) is named for its use of an organic, high molecular mass fluid with a liquid-vapour phase change, or boiling point, occurring at a lower temperature than the water-steam phase change. The fluid allows Rankine cycle heat recovery from lower temperature sources such as biomass combustion, industrial waste heat, geothermal heat, solar ponds, etc. The low-temperature heat is converted into useful work, that can itself be converted into electricity.

over–the–counter market