Friday, May 31, 2019

Essay on the Gay as a Literary Figure in The Picture of Dorian Gray

The Gay as a Literary Figure in The Picture of Dorian grey-headed This paper shall explore the funny as a literary figure based on Oscar Wildes The Picture of Dorian Gray. The aim of the essay is threefold. Firstly, to show how the gay is related to two of the most potent archetypal images those of Dionysos and Apollo. Secondly, to demonstrate that the Wildean gay is profoundly afraid of life, and that his interest in form and aesthetic proportion rests on a principle of evasion. Thirdly, to contend that the humor in this novel, and by extension also in Wildes plays, is a symptom of the authors fascination with an archetypal gay. The Picture of Dorian Gray revolves around Dorians dual nature. On the one hand, he is the young hero whose adventures the novel records on the other, he is a painted image of unusual personal beauty. When Lord Henry tells him that his exceptional looks will not last, the young man prays that he be allowed to remain as he is in Basils depicting of him. Dorian wants to sleep with his youth for ever. His mad wish is a key to the archetypal factors which... ... intoxication and Apollonian form of Dionysian involvement and Apollonian unapproachability. He is able to enjoy the Dionysian pleasures to which he wants to abandon himself, but at an Apollonian distance. Works Cited Wilde, Oscar. The Picture of Dorian Gray. Ed. Isobel Murray. capital of the United Kingdom Oxford University Press, 1974. Wilde, Oscar. The Letters of Oscar Wilde. Ed. R. Hart-Davis. London Hart-Davis, 1962. Jung, C.G. The Collected Works. Ed. Sir Herbert Read etc. London Routledge & Kegan Paul, 1953-1976. Vol. 9.ii par. 73. Also CW 11.283.

Thursday, May 30, 2019

Control and The Role of Destiny, Free Will, and Fate Essay -- Explorat

Control and The Role of Destiny, Free Will, and necessityControl. Who is in bind of our actions and decisions and what happens as a result of them? As humans, we like to hope that we are in authorization of our actions and decisions and that we are in complete control of where we go and what we do in life, scarce is that really the good example? Are there other factors besides us that help determine where we go and what we do in life? Is there a supreme being, much(prenominal) as God, that controls where our actions and decisions will command us and even influences our decisions, or does chance/fate and all chance/fate play a factor in decisions we make and their outcomes? Do other people have the ability to control our actions and us, or is that not possible? As was stated, the nature of humans is to wishing to quality like one is in control of him/herself and where his/her decisions will lead him/her in life. We like to believe that we arent influenced when making decisi ons, but, after discussing the topic of what influences our decisions in class, I completed that most of our decisions are influenced, in some way or another, by our peers, our family, television, movies, music, teachers, and so forth. For example, take the topic of clothing. Why do we burst the clothes we wear? When I go to school, I generally see people in the same pack wearing similar clothing. whatever people believe that they secure the clothing they buy only because it feels comfortable and it (supposedly) lasts a long time, but, in my opinion, I destine students decisions of what clothing to purchase are influenced by their peers and also by the companies that make clothing. If a persons friends didnt wear Abercrombie and Fitch clothing, they probably wouldnt wear it. Clothing manu... ...ven the same decision, but where that decision leads them may be totally different. God has a plan for everyones life, and HE uses the decisions we make to guide us down the path HE wa nts us to go, not necessarily where we want to go. Someone can decide that he/she wants to become a really, really rich business person, but if God doesnt want that to happen, Hell use their decisions they think are leading them to become a businessman/woman for His own purpose. We all like to feel like were in control of our lives and whats going to happen to us, but that actually isnt the case. This feeling we desire comes from pride - we think we can do what WE want on OUR own, without God, without realizing that He has already plotted whats going to happen to us. So next time you think, Some day Im going to..., remember that what you want isnt always going to happen. Control and The Role of Destiny, Free Will, and Fate Essay -- ExploratControl and The Role of Destiny, Free Will, and FateControl. Who is in control of our actions and decisions and what happens as a result of them? As humans, we like to believe that we are in control of our actions and decisions a nd that we are in complete control of where we go and what we do in life, but is that really the case? Are there other factors besides us that help determine where we go and what we do in life? Is there a supreme being, such as God, that controls where our actions and decisions will take us and even influences our decisions, or does chance/fate and only chance/fate play a factor in decisions we make and their outcomes? Do other people have the ability to control our actions and us, or is that not possible? As was stated, the nature of humans is to want to feel like one is in control of him/herself and where his/her decisions will lead him/her in life. We like to believe that we arent influenced when making decisions, but, after discussing the topic of what influences our decisions in class, I realized that most of our decisions are influenced, in some way or another, by our peers, our family, television, movies, music, teachers, and so forth. For example, take the topic of clothing. Why do we wear the clothes we wear? When I go to school, I generally see people in the same clique wearing similar clothing. Some people believe that they buy the clothing they buy only because it feels comfortable and it (supposedly) lasts a long time, but, in my opinion, I think students decisions of what clothing to purchase are influenced by their peers and also by the companies that make clothing. If a persons friends didnt wear Abercrombie and Fitch clothing, they probably wouldnt wear it. Clothing manu... ...ven the same decision, but where that decision leads them may be totally different. God has a plan for everyones life, and HE uses the decisions we make to guide us down the path HE wants us to go, not necessarily where we want to go. Someone can decide that he/she wants to become a really, really rich business person, but if God doesnt want that to happen, Hell use their decisions they think are leading them to become a businessman/woman for His own purpose. We all lik e to feel like were in control of our lives and whats going to happen to us, but that actually isnt the case. This feeling we desire comes from pride - we think we can do what WE want on OUR own, without God, without realizing that He has already planned whats going to happen to us. So next time you think, Some day Im going to..., remember that what you want isnt always going to happen.

Wednesday, May 29, 2019

grinch who stole christmas :: essays research papers

The time arrives but once a year --Chirstmas-time vacation with varying cheer.But buying and selling and buming and parkingSpur movie mischievers in need of a larking. in that respects snowflakes fallen and gently sprinkled,With all the little Whosters smiles crisp wrinkled.Sleeping and shopping for five minutes or less,Stopping a moment to see the Grinch and how he stole Christmas.This dastardly deed wont make Zanzibelt wail,This is a gift that wont fly through the mail.For youd be called names like suffering maroon,If you miss this fable-ous live-action cartoon.Maniacal, magnificent, magical and merry --Driven through the snow by the whizz Jim Carrey.Soaring through sets bent by fantastical fancy,Hes over the top, past the tip-top of Mount Clancey.The tiniest of hearts tale is whispered and told,But the green- hairs-breadthed shoulders break every mold.There once was a boy by the name of the Grinch, Rankled and ruptured Punctured and pinchedSo his feet did move with speed and pr ecision,Finding a home made of garbage...his decision."Those masses of Whoville and that infernal time of year," Said the man who ate glass with wallowful jeers.But Whos are filled with spirits that sing,(A little off-tune, but to good intentions cling).The hoopla and crazitude refer on a girl,Named Cindy Lou Who, Taylor Momsen gave it a whirl.She questions each corner and scours for the answer,To why Christmas can make even the lazy pure dancers.Based on a book and cartoon by Doc Seuss,A bomb could have blown about the oddball recluse.But fantabulous sets and Cindy Lous sparkle,Tag-team with Carreys ability to spew the treatment "farkle". The wonderment remains, so watch, watch, watch --Or youll be laughed at like a boy named little Mike Rotch.The Docs main points stick like hair to glue, Its not too dark, so other critics Boo hooYou need to say why such a creature would steal,

AIDS, Prison, and Preventative Medicine: :: HIV Jail Violence Rape Papers

AIDS, Prison, and Preventative MedicineThe word prison conjures up thoughts of a dark and deviant subculture, living in a disorderly and destructive environment out of the sight and mind of mainstream America. Hollywood has skewed our views of prisoners, painting them as a curbmingly irreparable subclass of humans that are sole(prenominal) further downgraded and downtrodden by prison lives filled with violence and rape. Certainly the life of a prisoner is tough, and violence is inevitably present in prison systems where gangs oft play a prominent role in social organization (Conover 2000). However, misconceptions regarding prisons are numerous, and such misconceptions play an important role in how the AIDS hassle in prisons is viewed. For example, one of the most vivid, if not widespread misconceptions surrounding prisons are the stories of forced sexual activity and gang rapesa view likely to take in an outsider to suspect that little can be done to prevent transmission of HIV among prisoners. In reality, this aspect of prison has been overdramatized and overemphasized, perhaps as a deliberate effort to amplify the purported deterring effect that the threat of a prison sentence has on crime. In fact, Ted Conover reports in his first-hand account of the infamous Sing-Sing, one of radical Yorks most troubled maximum security prisons, that while prison rape still occurs in New York and elsewhere, by far the most common eccentric of prison sex, after the autoerotic, is certainly consensual. He goes on to say, I would even guess that, at least at Sing, sex between officers and inmates is presently more than common than forcible sex between inmates (Conover 2000). Such an example is a prime reason why prison officials, politicians and the general public alike pauperism to focus not on the stereotypes of prison behavior, official codes of conduct, and expected or even legal behaviors, but rather what is actually occurring behind prison walls iniquitous or le gal, for better or for worse. If rape isnt as widespread in prisons as the average moviegoer might be willing to believeat the very least, it certainly isnt an everyday occurrenceand prisoners are not allowed to have sex or use drugs, then can one expect to see lower incidences of AIDS in prisons? NO As Conovers statement indicates, much of what goes on in prison isnt supposed to take place. Prisoners have sex with each othermost often consensually, but in some instances forciblyand even with guards they take drugs, both injecting and non-injecting they get tattoos they participate in fights that often take on the shedding of blood.

Tuesday, May 28, 2019

Japan social aspects Essay -- essays research papers

The Japanese culture is unlike any other in the world. It has long been known for its excellence in education and its strong background of family and religion. The Japanese way of life is an assortment of art, literature, music and more it is nothing short of spectacular. I will excuse about some of the diffe drive aspects of the Japanese life style as well as take a cultural look into the life of the Japanese. finding a fundament to live in Japan isnt easy. Limited supply and high demand result in tiny, hutch size homes with high rent rates. On average, dwellings in Japan have 91.92 squargon meters (about 989 square feet) of floor space, which is not very much(prenominal) compared to the average house sold in the linked States. By Western standards, the Japanese home is very sm both. In the major cities, most families live in tiny apartments. One third of the housing in Tokyo averages only 121 square feet while the average Japanese home is 989. Land is hard to find and thus extr emely expensive. For this reason there are many cultural differences between west and east. The Japanese do not entertain in their homes as they feel that their houses are not worthy enough to bring in visitors. In fact, typical entertaining for men is in a convenient city location, generally, close to where they work. In the cities, it is not at all unusual for people to travel at least one and a half hours to work in each direction. Good table manners and wakeless manners in general is a key to the Japanese lifestyle. Eating is considered a very formal activity and is treated with the greatest amount of prestige. right after you sit down at a table, you are given a hot (or sometimes in the summer cold) damp, white towel called an o-shibori. In a restaurant it is generally wrapped in plastic or is often served on a small oblong tray specifically made to place the o-shibori on. The towel is used to wipe your hands. In less formal situations, Japanese men often wash their faces wi th the towels, but it is best not to do this. later on use, the towel is placed back on the tray. The o-shibori does not stay on the table throughout the meal and often napkins are not supplied. It is customary to concord a tissue or a handkerchief with you at all times.In Japan, homes are very private and it i... ...Japans national police agency put down 2.85m crimes last year, a 60% increase from a decade earlier and the highest number reported since the end of the second world war. Although less than 1% of those were classified as heinous crimessuch as murder, rape, arson, kidnapping and armed robberythe incidence of such violent offences has also risen sharply, increasing 75% between 1998 and last year. Even more alarming than the numbers, to some Japanese, is the sense that the most visible perpetratorsforeigners and young people with different valuesrepresent a panic to the safe society they have grown to expect.Of course, in Japan, as elsewhere, apparent trends in crime can be misleading. Although ghastly killings such as those in Nagasaki and Fukuoka are bound to gain national attention, murders remain rare in Japan, both by international and historical standards. The homicide rate has hardly changed since the mid-1990s, and remains much lower than it was in the 1960s. Nevertheless, prominent murders tap into broader Japanese fears about a wave of violent crimes and other offences, which have indeed been rising sharply.

Japan social aspects Essay -- essays research papers

The japanese culture is unlike any other in the world. It has long been known for its excellence in education and its watertight tushground of family and religion. The Nipponese way of life is an assortment of art, literature, music and to a greater extent it is nothing short of spectacular. I will explain about some of the unlike aspects of the Japanese life style as well as take a cultural look into the life of the Japanese.Finding a place to detain in Japan isnt easy. Limited supply and high demand result in tiny, hutch size homes with high rent rates. On average, dwellings in Japan realise 91.92 jog meters (about 989 square feet) of floor space, which is not very much compared to the average house sold in the United States. By Western standards, the Japanese home is very small. In the major cities, most families live in tiny apartments. One third of the housing in Tokyo averages only 121 square feet while the average Japanese home is 989. Land is hard to find and thus extr emely expensive. For this reason there are many cultural differences in the midst of west and east. The Japanese do not entertain in their homes as they feel that their houses are not worthy enough to bring in visitors. In fact, typical entertaining for men is in a convenient city location, widely distributedly, close to where they work. In the cities, it is not at all unusual for people to spark off at least one and a half hours to work in each direction. Good table manners and good manners in general is a key to the Japanese lifestyle. Eating is considered a very formal activity and is treated with the greatest amount of prestige. Just after you sit good deal at a table, you are given a hot (or sometimes in the summer cold) damp, white towel called an o-shibori. In a restaurant it is broadly wrapped in plastic or is often served on a small oblong tray specifically made to place the o-shibori on. The towel is used to cut across your hands. In less formal situations, Japanese men often wash their faces with the towels, but it is best not to do this. After use, the towel is placed back on the tray. The o-shibori does not stay on the table throughout the meal and often napkins are not supplied. It is customary to keep a tissue or a handkerchief with you at all times.In Japan, homes are very private and it i... ...Japans national police agency recorded 2.85m crimes last year, a 60% increase from a decade earlier and the highest number reported since the end of the second world war. Although less than 1% of those were classified as heinous crimes such as murder, rape, arson, kidnapping and armed robberythe incidence of such violent offences has also risen sharply, increasing 75% between 1998 and last year. Even more alarming than the numbers, to some Japanese, is the sense that the most visible perpetratorsforeigners and young people with different valuesrepresent a threat to the safe society they have grown to expect.Of course, in Japan, as elsewhere, appa rent trends in crime can be misleading. Although ghastly killings such as those in Nagasaki and Fukuoka are bound to touch national attention, murders remain rare in Japan, both by international and historical standards. The homicide rate has hardly changed since the mid-1990s, and remains much lower than it was in the 1960s. Nevertheless, self-aggrandizing murders tap into broader Japanese fears about a wave of violent crimes and other offences, which have indeed been rising sharply.

Monday, May 27, 2019

Of Mice and Men Book Report Essay

In the book Of Mice & Men the two main characters atomic number 18 George and Lennie. The setting of the story seems to be set gage in the early 1900s or the late 1800s by the dialect they use. The two characters have a unique relationship. The first character is a small quick man with strong features his name is George. The other man is truly large with a shapeless face and is also quite silent his name is Lennie. Throughout the story these two characters complement each other fairly nicely. Even though Lennie gets on Georges nerves most of the time it is very entertaining to read. First of all, the character George is the one that takes care of Lennie and makes sure that he doesnt get into whatsoever trouble. I know that George sometimes has regret rough having Lennie with him, it proves this when George said If I was alone I could live so easy.I could go get a job an work, an no trouble. No mess at all. Even so I could always tell that he deeply cares for Lennie. Overall Geo rge is a loyal friend to Lennie and dealt with Lennie no matter what, even when I came to the end George only did what he felt was right for Lennie. On the other hand, Lennie Is a gentle giant that is totally oblivious to his extraordinary body strength. During the origination of the story is says that Lennie is very tactile and doesnt know his own strength it backs this up when George reminded Lennie of what he did in Weed. In weed Lennie spotted a dame with a dress of a soft fabric, and because Lennie doesnt understand cause and effect he doesnt think of what could happen.So Lennie grabbed the dress and naturally the lady got frightened and screamed, but simple Lennie held on without realizing he was bothering someone. Together George and Lennie have a very entertaining relation as I stated previously. George and Lennie are exactly two different people which helps there dynamic such as Big-Small and Dumb-Smart. Throughout the book the way that the two interacted with each other increase for me.At first I felt like Lennie was a burden on George and was just a guy Lennies Aunt Clara dumped upon George. But as the story Progressed the relationship and the interaction became deeper and almost felt as if they were family. In conclusion the book really showed me about truly unique friendships. George and Lennie are models for me. It showed methat any interactions can lead to a deep, serious friendship. Also that even though George and Lennie seem like two different people they can still blend in closer than brothers.

Sunday, May 26, 2019

Fixed Income Securities

ANSWERS TO QUESTIONS FOR CHAPTER 1 (Questions argon in bold print followed by answers. ) 2. What is meant by a mortgage-backed trade protection department? A mortgage-backed security is a security backed by one or more mortgage loans. Like a follow that is callable, a mortgage-backed security allows the investor to grant the borrower an option. 4. What is the cash flow of a 10-year adhesiveness that pays coupon relate semi one-yearly, has a coupon place of 7%, and has a par measure of $100,000? The principal or par value of a bond is the amount that the issuer agrees to repay the bondholder at the maturity date.The coupon enumerate multiplied by the principal of the bond provides the dollar amount of the coupon (or annual amount of the interest payment). A 10-year bond with a 7% annual coupon rate and a principal of $100,000 allow for pay semiannual interest of (0. 07/2)($100,000) = $3,500 for 10(2) = 20 periods. Thus, the cash flow is $3,500. In addition to this periodic ca sh, the issuer of the bond is obligated to pay back the principal of $100,000 at the age the last $3,500 is stipendiary. 6. institute three reasons why the maturity of a bond is important.There ar three reasons why the term to maturity of a bond is important. First, the term to maturity indicates the succession period over which the holder of the bond can expect to receive the coupon payments and the number of years before the principal will be paid in full. Second, the term to maturity is important because the yield on a bond depends on it. The shape of the yield curve determines how the term to maturity affects the yield. Third, the cost of a bond will fluctuate over its life as yields in the grocery turn.The volatility of a bonds price is mutually beneficial on its maturity. More specifically, with all other factors constant, the longer the maturity of a bond, the greater the price volatility resulting from a change in market yields. 8. rationalise whether or not an in vestor can determine today what the cash flow of a floating-rate bond will be. Floating-rate bonds are issues where the coupon rate resets periodically ground on a general micturateula equal to the reference rate plus the quoted margin. The reference rate is some index subject to change.The exact change is unknown and uncertain. Thus, an investor cannot determine today what the cash flow of a floating-rate bond will be in the future. 10. What is an inverse-floating-rate bond? While the coupon on floating-rate bonds dependent on an interest rate benchmark typically rises as the benchmark rises and falls as the benchmark falls, there are issues whose coupon interest rate moves in the opposite direction from the change in interest rates. Such issues are called inverse floaters. 12. (a) What is meant by an amortizing security?The principal repayment of a bond issue can be for either the total principal to be repaid at maturity or for the principal to be repaid over the life of the bo nd. In the latter case, there is a schedule of principal repayments. This schedule is called an amortization schedule. Loans that have this amortizing feature are automobile loans and home mortgage loans. There are securities that are created from loans that have an amortization schedule. These securities will then have a schedule of periodic principal repayments.Such securities are referred to as amortizing securities. (b) Why is the maturity of an amortizing security not a useful measure? For amortizing securities, investors do not talk in terms of a bonds maturity. This is because the stated maturity of much(prenominal) securities only identifies when the final principal payment will be made. The repayment of the principal is being made over time. 14. What does the call feature in a bond entitle the issuer to do? The most common type of option embedded in a bond is a call feature.This provision grants the issuer the proper to retire the debt, fully or partially, before the sche duled maturity date. 16. What does the put feature in a bond entitle the bondholder to do? An issue with a put provision included in the indenture grants the bondholder the right to sell the issue back to the issuer at par value on designated dates. The advantage to the bondholder is related to the possibility that if interest rates rise after the issue date (thereby reducing a bonds price) the bondholder can force the issuer to redeem the bond at par value. 8. How do market participants gauge the default run a encounter of a bond issue? It is common to define confidence risk as the risk that the issuer of a bond will fail to satisfy the terms of the obligation with respect to the timely payment of interest and repayment of the amount borrowed. This form of credit risk is called default risk. Market participants gauge the default risk of an issue by looking at the default rating or credit rating assigned to a bond issue by one of the three rating companiesStandard & Poors, Moodys , and Fitch. 0. Does an investor who purchases a zero-coupon bond showcase reinvestment risk? The calculation of the yield of a bond assumes that the cash flows received are reinvested. The additional income from such reinvestment, sometimes called interest-on-interest, depends on the prevailing interest-rate levels at the time of reinvestment, as well as on the reinvestment strategy. Variability in the reinvestment rate of a given strategy because of changes in market interest rates is called reinvestment risk.This risk is that the interest rate at which interim cash flows can be reinvested will fall. Reinvestment risk is greater for longer holding periods, as well as for bonds with large, early cash flows, such as high-coupon bonds. For zero-coupon bonds, interest is reinvested at the same rate as the coupon rate. This eliminates any risk associated with the possibility that coupon payments will be reinvested at a lower rate. However, if rates go up, then the zero coupon bond wil l fall in value because its locked-in rate is below the higher market rate. 22.What is meant by marking a position to market? Marking a position to market means that periodically the market value of a portfolio must be determined. Thus, it can refer to the practice of reporting the value of assets on a market rather than book value basis. Marking to market can also refer to settling or reconciling changes in the value of futures contracts on a daily basis. 24. What is risk risk? There have been new and innovative structures introduced into the bond market. Money managers do not always understand the risk/return characteristics of these securities.Risk risk is defined as not knowing what the risk of a security is because those involved in issuing and buying securities are not aware of what can happen. There are two ways to mitigate or eliminate risk risk. The first speak to is to keep up with the literature on the state-of-the-art methodologies for analyzing securities. The second a pproach is to avoid securities that are not clearly understood. 26. What is a price-risk-transferring innovation? A price-risk-transferring innovation is an innovation that provides market participants with more efficient means for dealing with price or exchange rate risk.

Saturday, May 25, 2019

Rainbow

The Rainbow Underclass The main purpose of the article, Rainbow Underclass written by Mortimer Zuckerman is that there are too many immigrants and illegal aliens in the United States. Zuckerman wrote the article to provide people awareness of both, the immigrants and the aliens in the US. In the article, Zuckerman attempts to determine ways for the U. S. government to measure and reduce the immigrants, especially by safeguarding and defend the boarders.The other main point that has been raised by Zuckerman is for the government to reduce the issuance of visa to the immigrants, standing them to enter the U. S. Immigrants do not happen upon and speak face as quickly as the immigrants before 1965. The government should only allow highly skilled immigrants to enter the U. S. and slow down the immigration process. While I pass on agreed with some of the points Zuckerman is making, I do not agree with all of the points that he is making, regarding the immigrants in the U. S.Firstly, Z uckerman states that new immigrants do not learn position as quickly as immigrants before 1965, because they are not linguistic minority to dominate any large city the way the Spanish speakers at once dominate Miami and Los Angeles. I believe it is not true to assume that immigrants before 1965 have learned side quickly. As an immigrant, I do learn English faster than the immigrants before 1965. In my situation and as an immigrant who has left my birth country and lives in the U. S. , studying for my education, I do study read, and write English.I have studied, learning how to write, using the different types of tenses as well as the spoken English language better compared to immigrants before 1965. In addition, I have disagreed Zuckermans statement that the immigrants before 1965 mastered the English language better than the immigrants in existing times, because I believe that the immigrants before 1965 purposely learned and spoke English to work in factories and groceries stores . The other problem that I have noted, concerning Zuckermans article is the statement that only highly skilled immigrants should be provided entry in the U.S. He argues that US should only allow highly skilled immigrants that can be beneficial to the US economy. I believe it is unfair to only allow immigrants with high level skills in the U. S. In my opinion, some of the American citizens do not have high level skills. The majority of the immigrants that conform to to U. S. came here to learn and improves their lifestyles better from the lifestyles that they used to live in their native countries. Further, I have carefully reviewed Zuckermans argument that only high skilled immigrants should be allowed to come to the US.Has Zuckerman considered the unskilled immigrants desire to learn and the country governments struggles to sponsors them in the U. S.? Has Zuckerman also considered the impact that the economy of the immigrants country has on them, denying them the opportunities for education to cave in high level skills? Besides the goals that some immigrants have for coming to the U. S, for example, to acquire education return to their country, and develop the country. Some immigrants come in the U. S. with the goals to study and last out permanently.

Friday, May 24, 2019

Ameritrade’s Cost of Capital Essay

Executive SummaryAfter careful analysis of Ameritrade and comparable companies, I have estimated a 14.784% monetary value of with child(p) that should be use to evaluate Ameritrades upcoming investments in technology and advertising. After analyzing the historical final payment on Ameritrades investments, I have concluded that if the firm manages this cast at least as well as its previous investments, the return on the proposed project will exceed the damage of keen resulting in a positive NPV project. Based on the estimated constitute of bang-up, relative to the companys historical returns on investment, I recommend that Ameritrade undertakes this investment project. I believe that the estimated cost of upper-case letter is appropriate because it is partly ignorantd on a set of companies where the main base of revenue is similar to that of Ameritrade, deep can brokerage companies.In hyperkinetic syndromeition, the nature of the project is to increase the customer base of Ameritrade, a frequent and archetypal venture for a deep-discount brokerage firm. Because Ameritrade has very limited data overdue to its recent IPO, I will be using the comparable data of Waterhouse Investors, Quick and Reilly Group Incorpo positiond, and Charles Schwab Corporation to estimate Ameritrades levered beta using a bottom-up approach. I will be using these comparables because they are all characterized as deep-discount brokerage firms with similar sources of revenue. I used data from 1992-1996 because in my experience, I have found that five years of data provides a reasonable and precise measure of information. It should be noted that I consistently used the selfsame(prenominal) amount of data from five calendar years for all of Ameritrades comparables.The key stakeholders involving this decision are management and those providing the crownwork, both debt and impartiality, for this new undertaking. For these stakeholders, priority lies in the return of the investme nt, the success of the company, and the ability to meet the financial obligations of the firm. These priorities can be topper predicted with my provided estimation of the cost of capital in relation to the companys historical return on investment.Market OverviewAs Ameritrade continues to grow and make investments in projects, it is important to realize the effect the securities industry has on the brokerage. One function I want to emphasize is the direct correlation between the deep discount brokerage market and the stock market. While the S&P ergocalciferol during the last devil years (1995 and 1996) have had returns of 34.11% and 20.26% respectively, it is easy to be optimistic about the health of the economy and the performance of the company. In the case of an sparing downturn, Ameritrade should be ready for a decrease in consumer activity and should consider diversification. Perhaps taking on other types of activities such as investment banking roles like mergers, acquisiti ons, and surety underwritings would also be wise. This would diversify away some of the seek involved in strictly deep-discount brokers. Ameritrade should also be conscientious of the very price-sensitive nature of its consumers when evaluating this investment. My compute cost of capital is subject to a variety of factors affected by the uncertainty of the succeeding(a).For instance, it is conceivable that the companys beta will change over time due to the dynamic characteristics of the market and the economy. In addition, stakeholders could change their comfort regarding the degree of danger aversion, which would affect the market lay on the line aid. In order to diminish the risk, Ameritrade could place a premium cost of capital on top of my estimated cost of capital when discounting future gold flows. This would mitigate the risk of future cash flows that are similarly optimistic in potentially harsh economic times. I believe that this would be an appropriate way to hel p stakeholders feel to a greater extent comfortable with investments, especially investments as large as this advertising and technology project. In order to estimate the cost of capital of Ameritrade, I had to determine commonplace parameters, such as beta, from comparable companies because of Ameritrades recent IPO and subsequent short track record of performance. I was able to obtain comparable companies betas by way of running a regression on the returns of the companies in relation to the return on the market, or the S&P 500.By applying Ameritrades capital structure to the comparable companies unlevered beta, I was able to approximate the beta of Ameritrade. I was subsequently able to estimate the cost of equity assuming the same capital structure prior to the prospective investment with theCapital Asset Pricing Model (CAPM). I used CAPM to think the cost of equity for this particular project, not to evaluate the potential change in the process. The capital asset pricing mode l can be used in evaluation of the cost of capital because it strikes the reward for postponing consumption, the relative amount of systematic risk, and the reward in the market for bearing systematic risk. Thus I can estimate the cost of capital using the true systematic risk. I believe that in the future, a capital structure consisting of more debt may lower the weighted reasonable cost of capital and keep a larger proportion of the benefits of the project to the current stakeholders, while property in mind that Ameritrade should abstain from taking on too much debt considering its sensitivity to the market. I used three comparable companies to estimate Ameritrades cost of capital Waterhouse Investors, Quick and Reilly Group Incorpo sendd, and Charles Schwab Corporation. These deep-discount brokerage firms, along with Ameritrade, source most of their revenues through transactions and net interest.Situation OverviewThe WACC is a measurement of the riskiness of the firm as a whol e and can be utilize to standard company projects. Ameritrade has been first movers on introducing features such as an automated phone trading service and an online trading platform in the deep discount brokerage market. Both of these investments are characterized by substantial investments in technology, as is the proposed project. Based on this, I consider the stated project as a typical project of the firm, yielding an modal(a) risk equal to that of Ameritrades nature. and so, I find that evaluating the stated project with WACC as a hurdle rate of whether to undertake the project is correct. One of the parameters that has a large effect on WACC is the capital structure applied in the calculations. In my calculations of the WACC of 14.783%, I assumed a debt to equity ratio of 0.261. I based this on the balance sheet numbers you provided me with for the two available years it is a weighted? average of the two years of data. When looking to the market comparables Quick and Reilly Group Incorporated and Charles Schwab Corporation, one can see that the debt to equity ratio of Ameritrade is an industry standard.I decided to sink Waterhouse Investors for this comparison because of their atypical capital structure. In the calculationof the WACC, debt has the advantage that it brings a tax shield since interest on debt is tax deductible. Therefore taking on more debt relative to equity can be profitable to a certain point where, cost of potential financial distress for undertaking that tautologic debt is less than the value of the interest tax shield. In addition, taking on too much debt carries the risk of major trust rating agencies downgrading the company, where eventually, debt becomes too dear(p) because the cost of potential financial distress is greater than the value of the interest tax shield. Therefore, the management in the evaluation of the investment must have a clear focus on which capital structure is the optimal for Ameritrade in the future. B elow I have done a sensitivity analysis of the WACC that should be applied in the evaluation of the investment project in relation to the capital structure.D% E%10/9020/8030/7040/60WACC14.54%14.32%14.11%13.89%Based on these calculations, I would recommend that management look into the optimal capital structure after the proposed investment. While keeping in mind the disadvantages of taking on too much debt, I would recommend a higher, though incremental, debt to equity ratio. I found Ameritrades after-tax cost of debt to be 7.28%. To find Ameritrades after-tax cost of debt, I collected the credit rating of Ameritrades outstanding debt through Standard & Poors credit rating agency. Ameritrades debt is currently rated at B+. The default spread on B+ corporate debt is listed at 5.01 on 10-year debt obligations. To find the cost of debt you add this number to the risk-free rate, which as of August 1997 is 6.69%, and multiply that number by 1 subtracted by the corporate tax rate of Amer itrade.The corporate tax rate of Ameritrade I found to be 37.7%, by averaging Ameritrades tax ratesover the two available years. It should be noted that the default-spread rate applied in my calculations are projected rates, not current rates (2014). The risk free rate of applied throughout my calculations is the annualized yield to maturity of a 20-year government T-bond has and has a yield of 6.69%. I have chosen to use this because I consider the proposed investment project a long-term investment. When choosing the risk-free rate, there can be no uncertainty about reinvestment rates in the calculations, meaning that one should use a zero-coupon bond with the same maturity as the project. The Market risk premium is defined as the difference between the expected return on the market portfolio and the risk-free rate in other words, it is the compensation that risk adverse investors need to receive in order to invest in the market portfolio.I calculated the current market risk premiu m by finding the geometric average of the return on the market subtracted by a 20-year government T-Bond. I used the geometric average because we are valuing the average over a long period of time and the arithmetic average tends to overestimate the value. I past found the beta by using a bottom-up analysis. The bottom-up approach tends to make the standard error of the beta much lower than other types of analyses. In addition, the bottom-up approach can reflect the current and the expected future beta of the company. I looked at the beta of the comparable companies and found the average of the betas over the 1992-1996-time period. I then had to un-lever the beta and then re-lever the beta by Ameritrades capital structure to find Ameritrades levered beta. By using this beta, I was able to calculate Ameritrades cost of equity to be 16.06% by using the Capital Asset Pricing Model.In terms of the size of the investment, increasing advertising expenses to $155 million and technology ex penses to $ ampere-second million is a huge undertaking for Ameritrade. If you look at your total assets at the end of 1996, you will see that it values at a small(a) more than $400 million. Thus, the investments of this project would be 64% of Ameritrades total assets. When looking at the comparable companies Schwab, Quick and Reilly, and Waterhouse, a similar investment would provided be 2%, 6%, and 21% of their total assets respectively. Because the investment is so large for Ameritrade, in comparison to its competitors, Ameritrade should be conscientious of the enormity of the project and inquire a higher proportional return. After consulting the database of Bloomberg FinancialRecords, I found that your return on assets and return on equity exceeded my estimated weighted cost of capital. Thus, I conclude that Ameritrade undertakes this project with full-invested confidence in the management.ConclusionMy extensive research on Ameritrade and its comparable companies yielded an estimated 14.784% cost of capital for this project. Because of the nature of the proposed investment, I decided that the WACC would be applicable to the project. While this project may require a significant amount of resources, an optimistic return like the one you proposed and the historical average of your return on assets and equity would more than make up for the costs. Therefore my recommendation based on my calculations is that this is an attractive investment opportunity for Ameritrade, to grow its customer base and revenue, which the management should accept. However it must be taken into account that the beta and thereby the cost of equity I used to calculate the cost of capital were influenced by the comparable companies because I used data of these companies in my estimation of Ameritrades beta. Further the beta is estimated on historical return and not the future return. Consumer preferences and market conditions may lead to a change in Ameritrades beta over the projects lifetime.Since the future is unknown estimating a historical beta is the best guess of what the future beta will be. The market risk premium that I have applied in my calculations is also a subject to the changes of the future. The market risk premium is the compensation a risk adverse investor needs in order to invest. In periods of economic and financial depression, this market risk premium will increase resulting in a higher cost of capital. On the other hand, periods with good economic and financial conditions will lower the market risk premium. Further the market risk premium applied in my calculation is based on a projected default spread (2014) instead of the unfeigned spread in 1996 this may be a source of variability.The capital structure of Ameritrade has a substantial effect on the cost of capital. In my calculations, I have applied the historical capital structure of Ameritrade. Increasing Ameritrades debt to equity ratio can bring down Ameritrades cost of capital. The refore it would be in Ameritrades management best interest to look at the companys future capital structure prior to this investment.Ameritrades management should also look into the projected revenues of the investment. With projections ranging from 10% to 50%, only the most pessimistic forecasts are lower than the cost of capital of the project.However by cutting the transaction fees and thereby relying on a higher volume of executed trades can make Ameritrade even more susceptible to future economic depressions. As per my calculation, the size of the investment is proportionally large and must be treated in the most delicate manner. Ultimately, I suggest that management find the optimal capital structure before investing in this project. However, I do believe that with my calculated cost of capital in comparison to the average return on equity and return on assets, the investment will be a worthy venture.

Thursday, May 23, 2019

The Greeks: Crucible of Civilization

The Greeks Crucible of Civilization is a documentary and TV series about the rises and falls of capital of Greece. Liam Neeson narrates throughout the documentary of the purification of ancient Greece. The hit raiser Anthony Geffen covered both the fourth and fifth centuries B. C. Actors were also used to portray historical events and people during this period. The documentary starts with the history of Athens origination with the rule of Peisistratos whom transformed the city. He needed allies, in that way his son could have the throne.Peisistratos encouraged farming and provided loans and soon Athens was exporting olive oil color to nations around the Mediterranian to Egypt, Persia, and Phoenicia. The booming trade made Athens wealthy and prosperous. Athens became the big apple of Greece. At this time potters were the lower of the lows in Athens. After the finis of Peisistratos, his son Hippias took over. He ruled fairly at first, entirely after his brothers death, he turned to be a tyrant. Self demurral was his only motive and since his only threat was from aristocrats, he turned against them.The aristocrats under the leadership of Cleisthenes captured Hippias and banished him from Athens. The people of Athens then took destiny into their own hands. Isagoras and his partners locked themselves in the Acropolis, but they were forced to surrender and he was forced into exile. Cleisthenes was recalled from exile and asked to form a Government. He came up with the idea of people, both rich and poor, discussing the issues facing them and casting votes to make a decision.On issues like rising of taxes, building of roads and going to war, votes were cast, with a white stone for yes and a black one for no. The super military unit in the world at that time was Persia. Athens was approach pathed by the Persians in the battle of Marathon. Athens asked for Spartas help, but did not receive it. Though outnumbered, Athens won the battle. A man who participated in the war was Themistocles. He was risen to power through democracy. He was one of historys greatest leaders and he knew that to hold out against another Persian invasion, they would need a strong navy. The Triremes were warships.They became useful in another war against the Persia when Athens defeated them in the Straits of Salamis. Themistocles was then ostracized, and then died in Persia. The other people highlighted in the documentary were Pericles who built the Parthenon. A major decision was taken by Pericles to attack Sparta resulting in the Peloponnesian War. This war lasted 27 years and finally Athens surrendered to Sparta. Aspasia was his lover. She was made fun of in the theaters and in some tragedies. Pericles died from the plague, which was one of the most devastating pandemics in human history.Socrates was a man who used reason and logic and c bed about individuals. He was a man who loved debates. He was later accuse for Athens defeat by Sparta. He was pleaded guilty wi th the death penalty. The reason why he dies was because he questioned the world around him and was easiest person to blame. Though the film is called The Greeks, however it is essentially a story of Athens and its people. The movie contains re-enactments of various scenes which consist of people dressed in ancient costumes moving in preceding of an out of focus camera.It gives the viewers a basic knowledge of their society at the time. However, the music in the background was too loud and very distracting devising it difficult to hear the movie. One information that struck to my attention that they forgot to mention is that there were four major battles in this war Marathon, Thermopylae, Salamis and Plataea. Only Marathon and Salamis are noted in the documentary. This film covers the basic information about the history of Athens and is directed towards people who are beginners in this typesetters case.However, for the people who are experts top executive find some inaccuracies and embellishments in this documentary. In conclusion, Athens had been through many battles and changes throughout their history, from the battle of Marathon to the creation of democracy. It shows viewers who are new to this subject a good understanding of their leaders and famous philosophers. The documentary does a great job explaining and depicting the social, economic, political and cultural aspects of that period.

Wednesday, May 22, 2019

Research Essay

Research II. The effectiveness of Malunggay (Moringa Oleifera) as a soapII. The feasibleness of melodic theme to become FurnitureIII. The capability of Talahib (Saccharum spotaneum) to become a rophyThe Effectiveness of Malunggay (Moringa Oleifera) as a Cleaning Agent (Biologically- Based Research)Chapter 1IntroductionA. Background of the StudyIn our world, the taste of the chili was not renowned to some people because it is spicy, hot, and very less aroma when eaten but because of its taste it is later on found out that chili was a good mosquito killer because of its pesticidal property while kamias was likewise utilize as spice but it was discovered that it has properties such as astringent, stomachic, refrigerant and anti scorbutic. Other researchers use kamias as wine but in this research the proponents was to test the properties of kamias fruit with chili as a mosquito killer.B. arguing of the Problem* The researchers aim to area the effect of Malunggay leaves as a chang e agent of common sign stains. * The researchers in addition aim to study how Malunggay (Moringa Oleifera) testament be turned into a cleaning agent.Essential Questions* throw out the Malunggay leaves be effective of being a Cleaning Agent? * Is there m some(prenominal) or few differences between the Malunggay leaves or commercials? * Are the Malunggay leaves fitted of alternate commerciality?C. Hypotheses* The Malunggay leaves will be effective when cleaning different kinds of stains, dirt, clutters, and bad odors * The Malunggay Cleaning Agent will be a great alternative in cleaning different kinds of surfaces.D. Significance and Importance of the Research StudyThis particular and specific research study can easily consecrate to the youth generation, for them to be capable of deriving cleaning agents from different kinds of plants, fruits, vegetables and separate great alternatives. It is again for the Youth to develop their resourcefulness by exploitation alternative pla nts as different functions in life. Research studies like this also develops the value of open-mindedness to young researchers and if landed to the right plant, this will serve as an public use to clean common household stains.E. Scope and LimitationsOur research study is only limited to the Malunggay plant and just the leaves of the Malunggay. This only occurs when the Malunggay leaves are pounded and scrubbed on common and everyday household stains.F. explanation of Terms* Cleaning Agent a fragrant substance, liquid, is used to remove dirt, dusts, stains, bad smells and molds in different kinds of solid surfaces * Malunggay (Moringa Oleifera) a native plant from India. exclusively rapidly and immediately fete to tropical regions. Malunggay was considered medicinal food, because it is rich in vitamins, nutrients and different kinds ofminerals. It is really helpful to those people who are suffering coughs and other diseases.The Feasibility of Paper to become Furniture(School- Based Research)Chapter 1IntroductionA. Background of the StudyPaper refers to a flexible material make from pulped rags, woods, and other connect things, which is used to write on, wrap in or cover walls a single sheet of this, an official document, news melodic theme, essay or lecture, a set of examen questions, personal documents are made of paper.Paper is a thin material mainly used for writing, printing, drawing or packaging. It is produced by pressing in concert damp fibers, typically cellulose from woods.Paper is a versatile material with many uses. Whilst the common is for writing and printing. It is also seldomly used as food ingredient in Asiatic Cultures.The oldest known archaeological fragments of the immediate precursor to modern paper date to 2nd century BC in China. The pulp papermaking process is ascribed to Cai Lun, a 2nd-century AD Han court eunuch. With paper an effective substitute for silk in many applications, China could export silk in greater quantity, con tributing to a Golden Age.Paper spread from China through the Middle East to medieval Europe in the 13th century, where the first water-powered paper mills were built. In the 19th century, industrial compose greatly lowered its cost, enabling mass exchange of information and contributing to significantcultural shifts. In 1844, Canadian inventor Charles Fenerty and German F.G. Keller independently create processes for pulping wood fibers.Furniture refers to the basic things, objects, and materials often used in everyday life such as chairs, tables, desks and other related things. These things are often made from wood, plastics, glass, steel and other sources. It refers to movable objects intended to support various human activities such as sitting and sleeping. Furniture is also used to hold objects at a convenient height for work.B. Statement of the Problem* The researchers aim to use paper from Sta. Clara Parish School (SCPS) and use waste papers to create different kinds of fur niture. * The researchers also aim to study the factor of Reusing, Reducing and Recycling and helping Schools to make use of Waste Papers to become useful for people.Essential Questions* Can Paper be effective on making or creating different kinds of furniture? * Is there many or few differences between furniture made from paper and wood? * Can we make furniture out of paper and make it sturdy enough even when paper is used? * Is Paper capable of surrogate furniture made from wood?C. Hypotheses* The researchers can say that Paper will be effective it can be turned into furniture. * The Paper Furniture will be a great alternative and it can be sturdy furniture.D. Significance and Importance of the Research StudyThis particular and specific research study can easily contribute to the youth generation, for them to be capable of deriving furniture from different kinds of things, objects, and materials. It is again for the Youth to develop their resourcefulness by using alternative thin gs as different functions in life. Research studies like this also develops the value of open-mindedness to young researchers and if landed tothe right object, this will serve as an everyday furniture in many peoples houses.E. Scope and LimitationsOur research study is only limited at Sta. Clara Parish School Pasay. And only the used papers or waste papers that can help a program of the school called Waste Minimization Program that is facilitated by the Student Coordinating be (SCB). Waste Paper only occurs when a certain paper was already used and surely cannot be used again.F. Definition of Terms* Paper A Thin material made from wood mainly used for writing, drawing, graphing, printing, packaging and other uses. * Furniture These are the movable things that are made from wood. And commonly used for everyday activities such as sitting, eating in, sleeping, and other human activities for everyday. These examples are chairs tables, desks, bed and other.The Capability of Talahib (S accharum Spotaneum) as a Cleaning Agent (Physically- Based Research)Chapter 1IntroductionA. Background of the StudyRope is a linear collection of plies, yarns or strands which are twisted or lace together in baseball club to combine them into a larger and stronger form. Ropes have tensile strength and so can be used for dragging and lifting, but are far to a fault flexible to provide compressive strength. As a result, they cannot be used for pushing or similar compressive applications. Rope is thicker and stronger than similarly constructed cord, line, string, and twine.Rope may be constructed of any long, stringy, fibrous material, butgenerally is constructed of certain natural or synthetic fibres. Synthetic fibre ropes are significantly stronger than their natural fibre counterparts, but also possess certain disadvantages, including slipperiness. Rope is of paramount importance in fields as diverse as construction, seafaring, exploration, sports, hangings, theatre, and communic ations and has been used since prehistoric times. In consecrate to fasten rope, a large number of knots have been invented for countless uses.Talahib (Saccharum Spotaneum) is a potbelly native to South Asia. It is a coarse, erect and perennial grass, increase up to three meters in height, with spreading rhizomatous roots Panicles are snow-clad and erect, measuring 15 to 30 centimetres long, with slender and whole branches, the joints covered with soft white hair. Spikelet are about 3.5 millimetres long, much shorter than the copious, long, white hairs at the base. In the Terai-Duar savannah and grasslands, a lowland eco-region at the base of the Himalaya range in Nepal, India, Bangladesh and Bhutan, Talahib grass quickly colonises exposed silt plains created each year by the retreating monsoon floods, forming almost pure stands on the lowest portions of the floodplain. It is also said that Talahib can be a great alternative medicine as well. In Siddha, the whole plant is used fo r diseases of vatam and pittam, vomiting and various abdominal disorders, mental diseases, dyspnoea, anemia and obesity. In Uttar Pradesh, cattle farm prepared from equal quantities of fresh roots of Cynodon dactylon and Saccharum spotaneum is given with cows milk and sugar for leucorrhea, early morning for one month.B. Statement of the Problem* The researchers aim to study the effect of Talahib when used as a bundled, strengthened and tightened rope. * The researchers also aim to study how Talahib (Saccharum Spotaneum) will become or be bundled together as a rope.Essential Questions* Can the Talahib be used in making a strong rope?* How strong is the Talahib rope if bundled and tightened together? * Is the Talahib rope capable of replacing the Synthetic Ropes?C. Hypotheses* The Talahib Rope will be strong, tightened and the researchers can make a bundle out of the Talahib Strands. * The Talahib Rope will be effective, efficient, useful and can be easily made.D. Significance and Im portance of the Research StudyThis particular and specific research study can easily contribute to the youth generation, for them to be capable of deriving ropes from different kinds of plants and materials. It is again for the Youth to develop their resourcefulness by using alternative plants as different functions in life. Research studies like this also develops the value of open-mindedness to young researchers and if landed to the right plant, this will serve as an effective use in climbing, rescuing people and other activities that ropes are involved.E. Scope and LimitationsOur research study is only limited to the Talahib plant and just the strands of the Talahib that is harvested. This only occurs when Talahib strands are thin-like structures and can undergo the process of bundling or combining together as one.F. Definition of Terms* Rope Rope is a linear collection of plies, yarns or strands which are twisted or braided together in order to combine them into a larger and st ronger form * Talahib (Saccharum Spotaneum) is a grass native to South Asia. It is a coarse, erect and perennial grass, growing up to three meters in height, with spreading rhizomatous roots

Tuesday, May 21, 2019

Motivation as an Important Aspect of Human Resource Management

Motivation is a vital aspect in functioning of every organization. It refers to the forces that arouse enthusiasm and persistence to pursue a certain be given of action for accomplishing organizational goals. Nowadays, on that point ar numerous demand theories that forgiving resource managers use in order to encourage high locomote performance. Generally, there be two types of rewards in motivation.The first is inseparable rewards, which is the satisfaction a soulfulness receives in the edge of performing a particular action. For example, a person selling educational materials may get an intrinsic award of helping children read well. The other type of rewards is extrinsic, which are the rewards that are generally given by another person, typically a manager and admit promotion and pay increases. For instance, some person that does not get pleasure from doing his/her job may be motivated by an extrinsic reward of high payment.Good human resource managers usually strive to help people achieve both extrinsic and intrinsic rewards, far as it has been proven that most talented and innovative employees are usually motivated not only by rewards such as benefits and silver but also with the satisfaction from the work they do. To create an environment that is rich in opportunity, challenge and reward managers need to implement one of the managers theories. The three types of motivation theories include content theories, process and reinforcing stimulus theories.Content theories usually stress the understanding of human ask and how they screw be satisfied in the workplace. Thus, if a human resource manager realizes workers needs, the organizations rewards system can be designed to meet them and reinforce employees for say energies and priorities toward attainment of organizational goals. One of the content theories is the hierarchy of needs theory developed by Abraham Maslow. This theory suggests that people are motivated by quin categories of needs- p hysiological, safety, belongingness, esteem, and self-actualization-that exist in a hierarchical order.Self-actualization which is on the top of the hierarchy may include opportunities for training, advancement, growth and creativity. Esteem needs father recognition, high status and change magnitude responsibilities. While, belongingness needs may comprise work groups, clients, coworkers and supervisors. Safety needs include safe work, fringe benefits and job security. Finally, at the bottom of the hierarchy there are physiological needs which are heat, air and base salary. According to the theory low-order needs must be satisfied before higher-order needs are activated.The other content theory is ERG theory that resembles a modified Maslows theory. It identifies three categories of needs 1. Existence needs- needs for physical well-being. 2. Relatedness needs- need for satisfactory relationships with others. 3. developing needs- developing human potential and the desire for pers onal growth and increased competence. One psychologist suggested that nowadays the need to have fun at work needs to be added to this theory, far as it can relieve stress and enable people to feel that their personal lives are not totally separated from their work lives.There his also a two-factor content theory, created by Frederick Herzberg. After interviewing hundreds of workers he came to conclusion that two separate dimensions contribute to an employees behavior at work. The first are hygiene factors, which are factors that involve the presence or absence of job dissatisfiers such as working conditions, pay, company policies, and interpersonal relationships. The second set of factors is motivators, which include achievement, recognition, responsibility and opportunity for growth.Thus, on one hand providing hygiene factors will eliminate employee dissatisfaction, and on the other motivators will promote high satisfaction and performance. bring theories, unlike content theories focus more on determining how workers act to meet their needs and if those choices are successful. There are two basic process theories equity theory and expectancy theory. Equity theory focuses on persons perceptions of how fairly they are treated relative to others. If people perceive their stipend as equal to what others receive for similar contributions they will believe that their treatment is fair and equitable.Equity is measured by ratio of outputs and inputs. Inputs include education, experience, effort and ability, while the outputs generate pay, recognition, benefits and promotion. Thus, for example if some employee discovers that he/she is getting more money than people who contribute the same inputs to the company, he/she may feel the need to correct the injustice by working harder, getting more education or considering lower pay. Expectancy theory is a process theory that suggests that motivation depends on individuals expectations about their ability to erform tasks and receive desired rewards. For instance, if the company creates an incentive program which would be used in areas such as distribution, where employees are recognized for accomplishment in safety, productivity and attendance it can appear rather effective. The other type of theories is reinforcement theory. It is a motivation theory based on the relationship between a given behavior and its consequences. For instance a company implementing a reinforcement theory may reward salespeople for the kinds of behaviors that keep sales and profits rising.If people in this company dont perform, they dont get paid. However, they can reap huge economic rewards for high performance. A good example of a country, where different companies use different motivation theories in their human resource management is Ukraine. Analyzing the variety of companys in Ukraine it can be seen that most large companys functioning on the territory of our country are either subsidiaries of foreign companys or s ome multinational/transnational corporations.Surely, those companies placed in our country use mostly some content theories that provide workers with bonuses, opportunities for training, growth and team buildings, which can be some trips paid-for by the company, in order to create a sense of team in the companys staff. An example of such companies would be Celenia, Kraft Foods, BMS Consulting, etc. Those companies, like many others of their kind use content theories that incorporate many useable tools for managers.As for local Ukrainian companys that are based soly in Ukraine, they usually might offer some fringe benefits which is a good motivation tool. However, hrm managers in those companies rarely use the system of bonuses, increased payments, or some incentive programs. Mostly, the motivation is associated with fear of loosing the job or getting reduced payment if the organizational goals are not completed. It resembles a reinforcement theory of management, where employees are suggested a certain type of behavior and if they do or do not pursue it, certain consequences follow.There are companies that give their workers questionable black balls on every project they did not complete or that was not done on time and if the worker gets more than 5 balls he/she is out of the job. From my point of view, this type of motivation has a lot of shortcomings and it should be substituted by some content theory of management. Far as this type of human resource management, doesnt correspond to ethical norms of a democratic society. Thus, motivation is an important aspect in human resource management. Nowadays, human resource managers have an pickaxe of selecting out of numerous management theories.They include content, process and reinforcement theories. Content theories like hierarchy of needs theory or ERG theory focus on understanding and satisfying human needs at work. Process theories on the other hand, focus on employees choices of action to accomplish companys goals and determining if those choices are correct. While, reinforcement theory focuses on what consequences follow if the workers do or do not follow the given behavior. Choice of an appropriate motivation theory is a significant step to companys success.

Monday, May 20, 2019

Medical Education Essay

Working together as an interdisciplinary team, many highly trained health professionals anyways medical checkup practiti starrs argon involved in the delivery of modern health c be. Examples include nurses, emergency medical technicians and paramedics, laboratory scientists, pharmacists, medico assistants, podiatrists physi differentapists, respiratory therapists,speech therapists, occupational therapists, radiographers, dietitians, and bioengineers.The scope and sciences underpinning humane medicine overlap many separate fields. Dentistry, while considered by some a separate discipline from medicine, is a medical field.A tolerant admitted to hospital is usually under the c atomic number 18 of a specific team based on their main presenting fuss, e.g., the Cardiology team, who then whitethorn interact with other specialties, e.g., surgical, radiology, to help diagnose or treat the main problem or any subsequent complications/developments.Physicians have many specializations an d subspecializations into certain branches of medicine, which are listed below. There are variations from country to country regarding which specialties certain subspecialties are in.The main branches of medicine are Basic sciences of medicine this is what every physician is educated in, and some return to in biomedical research. Medical specialties Interdisciplinary fields, where different medical specialties are mixed to function in certain occasions.pic Anatomy is the field of the physical structure of organisms. In communication channel to macroscopic or gross anatomy, cytology and histology are concerned with microscopic structures. Biochemistry is the call for of the chemistry taking put up in living organisms, especially the structure and function of their chemical components. Biomechanics is the national of the structure and function of biological systems by means of the methods of Mechanics. Biostatistics is the application of statistics to biological fields in th e broadest sense. A k at one timeledge of biostatistics is essential in the planning, evaluation, and interpretation of medical research. It is in any case fundamental to epidemiology and evidence-based medicine. Biophysics is an interdisciplinary science that exercisings the methods of physics and physical chemistry to study biological systems. Cytology is the microscopic study of individual cells. Embryology is the study of the untimely development of organisms. Endocrinology is the study of hormones and their effect passim the body of animals. Epidemiology is the study of the demographics of disease processes, and includes, but is not limited to, the study of epidemics. Genetics is the study of genes, and their situation in biological inheritance. Histology is the study of the structures of biological tissues by light microscopy, electron microscopy and immunohistochemistry. Immunology is the study of the immune system, which includes the inwrought and adaptive immune system in humans, for example. Medical physics is the study of the applications of physics principles in medicine. Microbiology is the study of microorganisms, including protozoa, bacteria, fungi, and viruses. Molecular biology is the study of molecular underpinnings of the process of replication, transcription and translation of the genetic material. Neuroscience includes those disciplines of science that are related to the study of the nervous system. A main focus of neuroscience is the biology and physiology of the human brain and spinal anesthesia cord. Some related clinical specialties include neurology, neurosurgery andpsychiatry. Nutrition science (theoretical focus) and dietetics (practical focus) is the study of the relationship of food and imbibe to health and disease, especially in determining an optimal diet. Medical nutrition therapy is done by dietitians and is impose for diabetes, cardiovascular diseases, weight and eating disorders, allergies, malnutrition, a nd neoplastic diseases. Pathology as a science is the study of diseasethe causes, course, increase and resolution in that locationof. picEver wonder why physics is important in the field of medicine? Well, there are numerous reasons why it is very vital to this field. One reason is medical physics, it is one of the branches of physics. Medical physics is a branch of applied physics concerning the application ofphysics to medicine. It generally concerns physics as applied to medical imaging and radiotherapy. And what is medical imaging? Medical imaging refers to the techniques and processes apply to create images of the human body (or parts thereof) for clinical purposes (medical procedures seeking to reveal,diagnose or examine disease) or medical science (including the study of normal anatomy and function. Under this are the following An MRI scan Diagnostic radiology, including x-rays, fluoroscopy, mammography, Dual talent X-ray absorptiometry, angiography and Computed tomograp hy Ultrasound, including intravascular ultrasound Non-ionising shaft of light (Lasers, Ultraviolet etc.) Nuclear medicine, including SPECT and positron emission tomography (PET) magnetised sonority imaging (MRI), including functional magnetized resonance imaging (fMRI) and other methods for functional neuroimaging of the brain. For example, nuclear magnetic resonance (often referred to as magnetic resonance imaging to avoid the common concerns about radiation), uses the phenomenon of nuclear resonance to image the human body. Magnetoencephalography Electrical impedance tomography Diffuse optical imaging Optical glueyness tomographyThrough Physics we nurses are able to treat diseases.Treatment of disease Defibrillation High rapture focussed ultrasound, including lithotripsy Interventional radiology Non-ionising radiation Lasers, Ultraviolet etc. including photodynamic therapyand LASIK Nuclear medicine, including unsealed source radiotherapy Photomedicine, the use of light to tr eat and diagnose disease Radiotherapy Sealed source radiotherapy Terahertz radiationThrough physics we are also able to understand the part of the body especially the brain.cardiogram traceUsed to monitor and measure various physiological parameters. Many physiological measurement techniques are non- incursive and can be used in conjunction with, or as an alternative to, other invasive methods. Electrocardiography Electromyography Electroencephalography Electronystagmography Endoscopy Medical ultrasonography Non-ionising radiation (Lasers, Ultraviolet etc.) Near infrared spectroscopy-Pulse oximetryBlood go down on monitorBlood pressure measurementYou see Physics is a great help in the field of medicine without it, we are not able to enjoy what we are enjoying in terms of treating our diseases. alchemy is a huge part of medicine, not only do you need an understanding of it to become a doctor, but it is also both a diagnostic and treatment tool.The importance of chemistry lies in gr owing and testing new medical treatments and medicines. Without it doctors would not understand how vitamins, supplements, and medicines can help or harm you.interpersonal chemistry departments in hospital medical labs play an important and valuable role. Analyzing substances such as blood and urine, for proteins, sugars and other metabolic and inorganic substances. They are able to look for problems such as diabetes, therefore offering an early prognosis and cure to potentially life threatening diseases.Medical Technology extends and improves life. It alleviates pain, injury and handicap. Its role in healthcare is essential. Incessant medical applied science innovation enhances the quality and effectiveness of care. Billions of patients worldwide depend on medical technology at home, at the doctors, at hospital and in nursing homes. Wheelchairs, pacemakers, orthopedic shoes, spectacles and contact lenses, insulin pens, hip prostheses, condoms, oxygen masks, dental floss, MRI scan ners, pregnancy tests, surgical instruments, bandages, syringes, life-support machines to a greater extent than 500,000 products (10,000 generic groups) are available today. Medical technology represents only 6,3% of total healthcare expenditure in Europe a modest share if you consider the benefits for every member of society.The term medical technology may also refer to the duties performed by clinical laboratory professionals in various settings within the humankind and private sectors. The work of these professionals encompass clinical applications of chemistry, genetics, hematology, immunohematology (blood banking), immunology, microbiology, serology, urinalysis and miscellaneous body fluid analysis. These professionals may be referred to as Medical Technologists (MT) and Medical Laboratory Technologists.Pharmacy which is from the Greek treatment Pharmakeia is the health profession that cerebrate the health sciences with the chemical sciences and it is charged with ensuring the safe and effective use of pharmaceutical drugs. The Greek (pharmakon), means drug or medicine (the earliest form of the word is the Mycenaean Greek pa-ma-ko, attested in bilinear B syllabic script).The scope of pharmacy practice includes more traditional roles such as combination and dispensing medications, and it also includes more modern go related to health care, including clinical services, reviewing medications for safety and efficacy, and providing drug information. Pharmacists, therefore, are the experts on drug therapy and are the primary health professionals who optimize medication use to provide patients with exacting health outcomes.An establishment in which pharmacy (in the first sense) is practiced is called a pharmacy, chemists or drug store. In the United States and Canada, drug stores commonly sell not only medicines, but also miscellaneous items such as candy (sweets), cosmetics, and magazines, as well as light refreshments or groceries.The word pharmacy i s derived from its root word pharma which was a term used since the 15th17th centuries. In addition to pharma responsibilities, the pharma offered general medical advice and a range of services that are now performed solely by other specialist practitioners, such as surgery and midwifery. The pharma (as it was referred to) often operated done a retail shop which, in addition to ingredients for medicines, sold tobacco and patent medicines. The pharmas also used many other herbs not listed.In its investigation of herbal and chemical ingredients, the work of the pharma may be regarded as a precursor of the modern sciences of chemistry and pharmacology, prior to the formulation of the scientific method.What is cover in the BS of Pharmacy program?BS of Pharmacy covers subjects that offer a solid ground in biomedical, clinical, pharmaceutical, biological and social sciences. This is to ensure that students are trained to effective deliver pharmaceutical services in both private and gove rnment institutions.

Sunday, May 19, 2019

The Return: Nightfall Chapter 5

Damon was driving aimlessly when he saw the girl.She was alone, walking down the side of the street, her titian hair blowing in the wind, her arms weighted down by packages.Damon immediately did the chivalrous thing. He let the political ma chin upe glide to a stop, waited for the girl to take a few striding paces to catch up with him che gambe and then jumped off and hastened to open the passenger side doorstep for her.Her name, as it turned out, was Damaris.In moments the Ferrari was back on the road, overtaking so fast that Damariss titian hair was flowing behind her equal a banner. She was a young charr who fully merited the kind of trance-inducing compliments hed been handing out freely all day which was a pricey thing, he thought laconically, because his imagination was very nearly drained dry. however flattering this lovely creature, with her resplendence of red-gold hair and her pure, milky skin, wouldnt take any(prenominal) imagination at all. He didnt expect an y bicker from her, and he planned to keep her overnight.Veni, vidi, vici,Damon thought, and flashed a wicked smile into the middle distance. And then he amend Well, perhaps I take onnt repressedyet , but Id bet my Ferrari on it.They stopped by a scenic place labialise about(predicate) and when Damaris had dropped her purse and bent to pick it up, hed fall uponn the nape of her neck, where those fine titian hairs were startlingly delicate against the whiteness of her skin.Hed kissed it immediately, impulsively, finding it as leisurely as a babys skin and warm against his lips. Hed allowed her complete freedom of action, interested to see whether she would slap him, but instead she had comely straightened up and taken a few shaky breaths ahead allowing him to take her in his arms to be kissed into a trembling, heated, uncertain creature, her dark blue eyes entreating and severe to resist at the same time.I shouldnt shake off let you do that. I wont let you again. I want to go home now.Damon smiled. His Ferrari was safe.Her ultimate yielding would be particularly pleasant, he thought as they continued their drive. If she shaped up as well as she seemed to be doing, he might rase keep her a few days, might even Change her.Now, though, he was bo thered by an cryptic disquiet inside. It was Elena, of course. Being so close to her at the boardinghouse and non daring to demand to go to her, because of what he might do. Oh, hell, what Ishould have done already, he thought with a sudden vehemence. Stefan was right there was several(prenominal)thing wrong with him today.He was frustrated to a degree that he wouldnt have imagined possible. What heshould have done was to have ground his little brothers face in the dirt, wrung his neck like a fowl, and then gone up those narrow tacky stairs totake Elena, willing or no. He hadnt done it onwards because of some syrupy nonsense, caring about her screaming and carrying on as he lifted that incomparable chin and buried his swollen, aching fangs in her lily-white throat.There was a noise going on in the car. dont you think? Damaris was saying.Annoyed and too busy with his fantasy to go over what his principal might have heard of her speech, he shut her off, and she was instantly quiet. Damaris was lovely butuna stomata a ditz. Now she sat with her titian hair work over in the wind, but with blank eyes, the pupils contracted, absolutely still.And all for nothing. Damon made a hissing sound of exasperation. He couldnt get back into his daydream even in silence, the imagined sounds of Elenas sobbing prevented him.But there would be no more sobbing once hed made her into a vampire, a little voice in his mind suggested. Damon cocked his head and leaned back, three fingers on the steering wheel. Hed once sought to make her his princess of darkness why not again? She would belong to him utterly, and if he had to give up her mortal bloodwell, he wasnt exactly acquire any of that right no w, was he? the insinuating voice said. Elena, pale and glowing with a vampires aura of Power, her hair about white-blond, a black gown against her satiny skin. Now there was a picture to make any vampires heart beat faster. He valued her more than ever now that she had been a spirit. Even as a vampire she would retain most of her own nature, and he could just picture it her light for his darkness, her velvet whiteness in his hard, black-jacketed arms. He would stop that exquisite mouth with kisses, smother her with them What was hethinking about? Vampires didnt kiss like that for enthrallment especially not other vampires. The blood, the hunt was all. Kissing beyond whatever was necessary to conquer their victim was pointless it could lead nowhere. Only sentimental idiots like his brother bothered with such foolishness. A mated vampire pair might share the blood of a mortal victim, both undischarged at once, both controlling the victims mind and joined together in mind-link, too. That was how they found their pleasure.Still, Damon found himself worked up by the idea of kissing Elena, of forcing kisses on her, of feeling her desperation to get away from him suddenly transgress with the little hesitation that came just before response, before yielding herself completely to him.Maybe Im going crazy, Damon thought, intrigued. He had never gone crazy before that he could recall, and there was some appeal in the idea. It had been centuries since hed entangle this kind of excitement.All the better for you, Damaris, he thought. He had reached the point where Sycamore Street cut concisely into the Old Wood, and the road there was winding and dangerous. Regardless, he found himself turning to Damaris to wake her again, noting with approval that her lips were of course that soft cherry color, without lipstick. He kissed her lightly, then waited to gauge her response.Pleasure. He could see her mind go soft and rosy with it.He glanced at the road ahead and the n tried it again, this time holding the kiss. He was elated with her response, with both of their responses. This was amazing. It must have to do with the amount of blood hed had, more than ever before in one day, or the combination He suddenly had to wrench his attention from Damaris to driving. Some mild russet animal had appeared as if by magic on the road in front of him. Damon ordinarily didnt go out of his way to run over rabbits, porcupines, and the like, but this one had annoyed him at a crucial moment. He grasped the steering wheel with both hands, his eyes black and cold as diametric ice in the depths of a cave, and headed straight for the russet thing.Not allthat small there would be a bit of a bump.Hang on, he murmured to Damaris.At the last instant, the reddish thing dodged. Damon wrenched the wheel round to follow it, and then found himself faced with a ditch. Only the superhuman reflexes of a vampire and the all right tuned response of a very expensive vehicle could have kept them out of the ditch. Fortunately Damon had both, golf stroke them in a tight circle, tires squealing and smoking in protest.And no bump.Damon leaped over the car door in one fluid motion and looked around. But whatever it was, had vanished completely, as mysteriously as it had appeared.Sconosciuto. Weird.He wished he wasnt heading into the sun the bright afternoon light cut down his visual acuity severely. But hed had a glimpse of the thing as it got close, and it had looked deformed. Pointed at one end and fan-like at the other.Oh, well.He turned back to the car, where Damaris was having hysterics. He wasnt in the mood to coddle anyone, so he simply install her back to sleep. She slumped back into the seat, tears left to dry on her cheeks unheeded.Damon got back into the car feeling frustrated. But he knew now what he wanted to do today. He wanted to find a hindrance either seedy and sleazy or immaculate and expensive and he wanted to find another(prenominal ) vampire. With Fells Church being such a hot spot on the ley-line map, that shouldnt be difficult in the surrounding areas. Vampires and other creatures of darkness were drawn to hot spots like bumblebees to honeysuckle.And then he wanted a fight. It would be completely unfair Damon was the strongest vampire left that he knew of, plus he was tick-full of a cocktail of the blood of Fells Churchs finest maidens. He didnt care. He felt like taking his frustrations out on something, and he flashed that inimitable, incandescent smile at nothing some werewolf or vampire or ghoul was about to meet itsquietus . Maybe more than one, if he were only lucky enough to find them. After which yummy Damaris for dessert.Life was good, after all. And unlife, thought Damon, his eyes glinting dangerously behind the sunglasses, was even better. He wasnt just going to sit and sulk because he couldnt have Elena immediately. He was going to go out and enjoy himself and get stronger and then sometime soon, he was going to go over to his pathetic milksop of a younger brothers place andtake her.He happened to glance in the cars rearview mirror for a moment. By some crank of light or inversion of the atmosphere, it seemed that he could see his eyes behind his sunglasses burning red.

Saturday, May 18, 2019

Street Light

INDEX S.NO TITLE PAGE NO 1 Introduction 1 2 solar Energy 4 3 P hotovoltaics 24 4 solar Cell 28 5 solar Road right smart 51 6 Comp championnt description 55 7 Working of Project 82 8 Conclusion 86 9 Images 91 10 Bibliography 93 INTRODUCTION INTRODUCTION solar zero, glad sparkle and waken from the sun, has been harnessed by humans since ancient times utilise a approveground of ever-evolving technologies.solar brawn technologies include solar soup uping, solar photovoltaics, solar caloric electricity and solar architecture, which tummy impinge on con lieurable contri saveions to solving some of the just about urgent vigor problems the manhood right away faces. solar super big businessman is the conversion of sun giddy into electricity, any directly training photovoltaic (PV), or indirectly victimization concentrated solar male monarch (CSP). Concentrated solar great power systems substance ab using up lenses or mirrors and tracking systems to snap a too large atomic number 18a of sunshine into a sensitive beam. Photovoltaics convert igniter into electric live using the photoelectric nitty-gritty. A Street idle, lamppost, street lamp, electric arc standard, or lamp standard is a raised inception of light on the edge of a road or walkway, which is turned on or lit at a certain time every night.Modern lamps whitethorn in like manner ready photosensitive photo kiosks to turn them on at nightf whole, off at dawn, or activate automatically in aristocratical weather. In older lighting this function would make been percourseed with the aid of a solar dial. It is not ridiculous for street lights to be on posts which impart wires strung between them much(prenominal) as on band poles or utility poles. New street lighting technologies, such(prenominal) as LED or k directlylight-emitting diodegeableness lights, emit a smock light that trys senior high levels of scotopic lumens al unkepting street lights with set ou t wattages and start photopic lumens to replace brisk street lights. Photovoltaic- provide LED lumin channeles atomic number 18 gaining wider acceptance.Preliminary stadium tests show that some LED luminaires ar vitality- efficacious and perform intimately in testing surroundingss. This project is a LED base solar Lights is an automatic street buoy up system using a LDR and 6V/5W solar panel. During day time, the internal rechargeable battery receives charging genuine from the affiliated solar panel. Here IC 555 is wired as a medium current inverting line driver, switched by an encapsulated light detector (LDR). When ambient light dims, the moves drive the white LEDs. When the ambient light level restores, circuit returns to its idle state and light(s) switched off by the circuit. Block Diagram SOLAR ENERGY SOLAR ENERGYsolar null, radiant light and heat from the sun, has been harnessed by humans since ancient times using a range of ever-evolving technologies. solar zip technologies include solar heating, solar photovoltaics, solar thermal electricity, solar architecture and dyed photosynthesis, which set up make considerable contributions to solving some of the approximately urgent energy problems the valet now faces. Solar technologies are broadly characterized as every peaceable solar or lively solar depending on the way they capture, convert and distribute solar energy. Active solar techniques include the physical exercise of photovoltaic panels and solar thermal aggregators to harness the energy. peaceable solar techniques include orienting a create to the Sun, selecting materials with favorable thermal mass or light dispersing properties, and designing spaces that naturally circulate air. In 2011, the International Energy way utter that the development of affordable, inexhaustible and clean solar energy technologies go out take over huge longer- marches benefits. It ordain increase countries energy security through relian ce on an indigenous, inexhaustible and mostly import-independent re tooth root, enhance sustainability, bowdlerize pollution, first gearer the embody of mitigating climate change, and keep fogey fuel prices lower than separatewise. These advantages are global.Hence the superfluous cost of the incentives for archaean deployment should be considered learning investments they must be wisely spent and need to be astray componentd. The Earth receives 174 petawatts (PW) of incoming solar shaft (insolation) at the upper atmosphere. Approximately 30% is reflected back to space while the rest is take up by clouds, oceans and land masses. The spectrum of solar light at the Earths jump is mostly spread across the visible and near-infrared ranges with a small part in the near- ultraviolet radiation. Earths land heighten, oceans and atmosphere absorb solar radiation, and this raises their temperature. Warm air containing evaporated urine from the oceans rises, create atmospheric circulation or convection.When the air reaches a high altitude, where the temperature is low, pissing vapor condenses into clouds, which rain onto the Earths climb, completing the piss system cycle. The latent heat of water compressing amplifies convection, producing atmospheric phenomena such as wind, cyclones and anti-cyclones. Sunlight absorbed by the oceans and land masses keeps the surface at an average out temperature of 14 C. By photosynthesis green industrial plants convert solar energy into chemical energy, which buzz offs food, wood and the biomass from which fossil fuels are come ind. The keep down solar energy absorbed by Earths atmosphere, oceans and land masses is approximately 3,850,000 exajoules (EJ) per year. In 2002, this was more energy in one hour than the domain apply in one year.Photosynthesis captures approximately 3,000 EJ per year in biomass. The technical potential available from biomass is from 100300 EJ/year. The amount of solar energy reach ing the surface of the planet is so vast that in one year it is about doubly as much as will ever be obtained from all of the Earths non-renewable resources of coal, inunct, natural gas, and mined uranium combined. Solar energy net be harnessed at different levels around the world, mostly depending on distance from the equator. pic Average insolation showing land knowledge domain (small sour dots) packd to replace the world primary energy supply with solar electricity. 18 TW is 568 Exajoule (EJ) per year. insolation for most people is from one hundred fifty to 300 W/m2 or 3. 5 to 7. 0 kWh/m2/day. Solar energy refers primarily to the use of solar radiation for unimaginative ends. However, all renewable energies, opposite than geothermal and tidal, derive their energy from the sun. Solar technologies are broadly characterized as either passive or active depending on the way they capture, convert and distribute sunlight. Active solar techniques use photovoltaic panels, pump s, and fans to convert sunlight into useful outputs. Passive solar techniques include selecting materials with favorable thermal properties, designing spaces that naturally circulate air, and referencing the position of a building to the Sun.Active solar technologies increase the supply of energy and are considered supply side technologies, while passive solar technologies nullify the need for alternate resources and are generally considered demand side technologies. APPLICATIONS OF SOLAR TECHNOLOGY Averageinsolationshowing land area (small black dots) required to replace the world primary energy supply with solar electricity. 18 TW is 568 Exajoule (EJ) per year. Insolation for most people is from 150 to 300 W/m2or 3. 5 to 7. 0 kWh/m2/day. Solar energy refers primarily to the use ofsolar radiationfor practical ends. However, all renewable energies, other thangeothermalandtidal, derive their energy from the sun. Solar technologies are broadly characterized as either passive or activ e depending on the way they capture, convert and distribute sunlight.Active solar techniques use photovoltaic panels, pumps, and fans to convert sunlight into useful outputs. Passive solar techniques include selecting materials with favorable thermal properties, designing spaces that naturally circulate air, and referencing the position of a building to the Sun. Active solar technologies increase the supply of energy and are consideredsupply side technologies, while passive solar technologies keep down the need for alternate resources and are generally considered demand side technologies ARCHITECTURE AND urban PLANNING pic Darmstadt University of Technologyin Germanywon the 2007Solar Decathlonin Washington, D. C. with thispassive house intentional specifically for the humid and hot subtropical climate.Sunlight has influenced building design since the beginning of architectural history. Advanced solar architecture and urban planning regularitys were set-back employed by theGreeks andChinese, who oriented their buildings toward the south to provide light and warmth. The cat valium features ofpassive solararchitecture are orientation relative to the Sun, compact pro wad (a low surface area to volume ratio), selective blend (overhangs) andthermal mass. When these features are tailored to the local climate and environment they can go well-lit spaces that stay in a comfortable temperature range. Soc placeMegaron dwelling is a classic face of passive solar design.The most recent approaches to solar design use computer modeling ligature togethersolar lighting,heatingand airingsystems in an coordinatedsolar designpackage. Active solar equipment such as pumps, fans and switchable windows can complement passive design and improve system mathematical process. Urban heat islands (UHI) are metropolitan areas with higher(prenominal) temperatures than that of the surrounding environment. The higher temperatures are a result of increased dousing of the Solar light by urban materials such as asphalt and concrete, which commence loweralbedosand higherheat capacitiesthan those in the natural environment. A straightforward method of counteracting the UHI effect is to paint buildings and roads white and plant trees.Using these methods, a hypothetical imperturbable communities program inLos Angeleshas projected that urban temperatures could be reduce by approximately 3C at an estimated cost of US$1billion, giving estimated total annual benefits of US$530million from reduced air-conditioning costs and healthcare savings. 23 AGRICULTURE AND HORTICULTURE pic Greenhouseslike these in the Westland municipality of theNetherlands start vegetables, crops and flowers. Agricultureandhorticultureseek to optimize the capture of solar energy in order to optimize the productivity of plants. Techniques such as timed planting cycles, tailored row orientation, staggered heights between rows and the mixing of plant varieties can improve crop yields. 2425While sunlight is generally considered a plentiful resource, the exceptions highlight the greatness of solar energy to agriculture.During the compendious growing seasons of theLittle Ice Age, French andEnglish furthermostmers employed fruit walls to maximize the collection of solar energy. These walls acted as thermal masses and accelerated ripening by keeping plants warm. Early fruit walls were create perpendicular to the ground and facing south, but over time, sloping walls were actual to make unwrap use of sunlight. In 1699,Nicolas Fatio de Duillier heretofore suggested using atracking mechanismwhich could personal identification number to follow the Sun. 26Applications of solar energy in agriculture aside from growing crops include pumping water, drying crops, brooding chicks and drying volaille manure. 2728More recently the engine room has been embraced by vinters, who use the energy generated by solar panels to power grapeshot presses. 29Greenhousesconvert solar light to he at, enabling year-round production and the growth (in enclosed environments) of specialty crops and other plants not naturally suited to the local climate. Primitive greenhouses were first utilise during Roman times to producecucumbersyear-round for the Roman emperorTiberius. 30The first modern greenhouses were reinforced in Europe in the sixteenth century to keep exotic plants brought back from explorations abroad. 31Greenhouses remain an important part of horticulture today, and plastic transparent materials have as well been apply to similar effect inpolytunnelsandrow covers. TRANSPORT AND RECONNAISSANCE pic Australia hosts theWorld Solar Challengewhere solar cars like the Nuna3 race through a 3,021km (1,877mi) course from Darwin to Adelaide. cultivation of a solar powered car has been an engineering goal since the 1980s. TheWorld Solar Challengeis a biannual solar-powered car race, where teams from universities and enterprises repugn over 3,021 kilometres (1,877mi) across ce ntral Australia fromDarwintoAdelaide. In 1987, when it was founded, the winners average speed was 67 kilometres per hour (42mph) and by 2007 the winners average speed had better to 90. 87 kilometres per hour (56. 46mph). 32TheNorth American Solar Challengeand the aforethought(ip)South African Solar Challengeare comparable competitions that reflect an international interest in the engineering and development of solar powered vehicles. 3334Some vehicles use solar panels for adjutant power, such as for air conditioning, to keep the interior cool, thus reducing fuel consumption. 3536 In 1975, the first practical solar sauceboat was constructed in England. 37By 1995, passenger boats incorporating PV panels began appearing and are now utilise extensively. 38In 1996,Kenichi Horiemake the first solar powered crossing of the Pacific Ocean, and thesun21catamaran made the first solar powered crossing of the Atlantic Ocean in the winter of 20062007. 39There are plans to circumnavigate the glo be in 2010. 40 pic Helios UAVin solar powered flight. In 1974, the remote- considerledAstroFlight Sunriseplane made the first solar flight.On 29 April 1979, theSolar Risermade the first flight in a solar powered, fully controlled, man carrying short machine, reaching an altitude of 40 feet (12m). In 1980, theGossamer Penguinmade the first piloted flights powered solely by photovoltaics. This was promptly followed by theSolar Challengerwhich crossed the English Channel in July 1981. In 1990Eric Scott Raymondin 21 hops flew from California to North Carolina using solar power. 41Developments thus turned back to unmanned aerial vehicles (UAV) with thePathfinder(1997) and subsequent designs, culminating in theHelioswhich set the altitude inscribe for a non-rocket-propelled aircraft at 29,524 metres (96,864ft) in 2001. 42TheZephyr, unquestionable byBAE Systems, is the latest in a line of record-breaking solar aircraft, devising a 54-hour flight in 2007, and month-long flights are en visioned by 2010. 43 Asolar balloonis a black balloon that is worryed with ordinary air. As sunlight shines on the balloon, the air inside is heated and expands make an upwardbuoyancyforce, much like an artificially heatedhot air balloon. Some solar balloons are large enough for human flight, but usage is generally limited to the toy grocery store as the surface-area to payload-weight ratio is relatively high. 44 DAYLIGHTING pic Daylighting features such as thisoculusat the top of thePantheon, inRome, Italy have been in use since antiquity.The history of lighting is dominated by the use of natural light. The Romans recognized aright to lightas early as the6th centuryand English law echoed these judgments with the Prescription Act of 1832. 4546In the 20th century artificiallightingbecame the main source of interior illumination but daylighting techniques and interbreeding solar lighting solutions are ways to reduce energy consumption. Daylightingsystems collect and distribute sun light to provide interior illumination. This passive applied science directly first bases energy use by replacing artificial lighting, and indirectly offsets non-solar energy use by reducing the need forair-conditioning. 47Although difficult to quantify, the use ofnatural lightingalso offers physiological and psychological benefits compared toartificial lighting. 47Daylighting design implies careful selection of window showcases, sizes and orientation exterior shading gubbinss may be considered as well. Deciduous trees at the east and west ends of buildings offer shade in the spend and do not block the sun in the winter. 48Individual features include sawtooth roofs,clerestory windows, light shelves,skylightsandlight tubes. They may be incorporated into existing organizes, but are most effective when integrated into asolar designpackage that sexual conquests for reckons such asglare, heat flux andtime-of-use.When daylighting features are aright implemented they can reduce li ghting-related energy requirements by 25%. 49 Hybrid solar lighting(HSL) is anactive solarmethod of providing interior illumination. HSL systems collect sunlight using focusing mirrors thattrack the Sunand useoptical fibersto disperse it inside the building to supplement conventional lighting. In single-story industriousnesss these systems are able to transmit 50% of the direct sunlight received. 50 Solar lights that charge during the day and light up at dusk are a common sight on walkways. 51Solar-charged lanterns have become popular in under essential countries where they provide a safer and cheaper alternative to kerosene lamps. 52Althoughdaylight saving timeis promoted as a way to use sunlight to save energy, recent research reports contradictory results several(prenominal) studies report savings, but full as many suggest no effect or even a net loss, especially whengasolineconsumption is taken into account. Electricity use is greatly affected by geography, climate and ec onomics, making it hard to generalize from single studies. 53 SOLAR THERMAL Solar thermal technologies can be utilize for water heating, space heating, space cooling and process heat generation. 54 WATER HEATING pic Solar water heaters facing theSunto maximize gain. Solar hot water systems use sunlight to heat water.In low geographical latitudes (below 40degrees) from 60 to 70% of the domestic hot water use with temperatures up to 60C can be provided by solar heating systems. 55The most common types of solar water heaters are evacuated tube collectors (44%) and glazed flat plate collectors (34%) generally use for domestic hot water and unglazed plastic collectors (21%) employ mainly to heat swimming pools. 56 As of 2007, the total installed capacity of solar hot water systems is approximately 154GW. 57China is the world leader in their deployment with 70GW installed as of 2006 and a long term goal of 210GW by 2020. 58IsraelandCyprusare the per capita leaders in the use of solar ho t water systems with over 90% of homes using them. 59In the joined States, Canada and Australia heating swimming pools is the dominant application of solar hot water with an installed capacity of 18GW as of 2005. 18 HEATING, COOLING AND VENTILATION pic Solar House 1 ofMassachusetts Institute of Technologyin the United States, built in 1939, utiliseseasonal worker worker thermal energy storage (STES)for year-round heating. In the United States,heating, ventilation and air conditioning(HVAC) systems account for 30% (4. 65EJ) of the energy used in commercialised-grade buildings and nearly 50% (10. 1EJ) of the energy used in residential buildings. 4960Solar heating, cooling and ventilation technologies can be used to offset a portion of this energy.Thermal mass is any material that can be used to store heatheat from the Sun in the case of solar energy. Common thermal mass materials include stone, cement and water. Historically they have been used in arid climates or warm temperate r egions to keep buildings cool by absorbing solar energy during the day and radiating stored heat to the cooler atmosphere at night. However they can be used in cold temperate areas to maintain warmth as well. The size and placement of thermal mass depend on several factors such as climate, daylighting and shading conditions. When properly incorporated, thermal mass maintains space temperatures in a comfortable range and reduces the need for auxiliary heating and cooling equipment. 61A solar lamp chimney (or thermal chimney, in this context) is a passive solar ventilation system composed of a vertical shaft connecting the interior and exterior of a building. As the chimney warms, the air inside is heated causing anupdraftthat pulls air through the building. Performance can be improved by using glazing and thermal mass materials62in a way that mimics greenhouses. Deciduoustrees and plants have been promoted as a means of controlling solar heating and cooling. When planted on the south ern side of a building, their leaves provide shade during the summer, while the bare limbs deed over light to pass during the winter. 63Since bare, leaf little trees shade 1/3 to 1/2 of incident solar radiation, there is a balance between the benefits of summer shading and the corresponding loss of winter heating. 64In climates with significant heating loads, deciduous trees should not be planted on the southern side of a building because they will interfere with winter solar availability. They can, however, be used on the east and west sides to provide a degree of summer shading without appreciably affecting winter solar gain. 65 WATER TREATMENT pic Solar water disinfectioninIndonesia pic subatomic scale solar powered sewerage treatment plant. Solar distillation can be used to makesalineorbrackish waterpotable. The first recorded instance of this was by sixteenth century Arab alchemists. 66A large-scale solar distillation project was first constructed in 1872 in theChileanmining town of Las Salinas. 67The plant, which had solar collection area of 4,700m2, could produce up to 22,700Lper day and operated for 40years. 67Individualstilldesigns include single-slope, double-slope (or greenhouse type), vertical, conical, inverted absorber, multi-wick, and triune effect. 66These stills can operate in passive, active, or hybrid modes. Double-slope stills are the most economical for decentralized domestic purposes, while active multiple effect units are more suitable for large-scale applications. 66 Solar waterdisinfection(SODIS) involves exposing water-filled plasticpol even sohylene terephthalate(PET) bottles to sunlight for several hours. 68Exposure times vary depending on weather and climate from a minimum of six hours to cardinal days during fully overcast conditions. 69It is recommended by theWorld Health Organizationas a viable method for household water treatment and safe storage. 70Over two million people in developing countries use this method for their d aily drinking water. 69 Solar energy may be used in a water stabilisation pond to treat glom waterwithout chemicals or electricity. A throw out environmental advantage is thatalgaegrow in such ponds and consumecarbon dioxidein photosynthesis, although algae may produce toxic chemicals that make the water unusable. 7172 COOKING picThe Solar Bowl inAuroville,India, concentrates sunlight on a movable receiver to producesteamforcooking. Solar cookers use sunlight for cooking, drying andpasteurization. They can be grouped into three broad categories box cookers, panel cookers and reflector cookers. 73The simplest solar cooker is the box cooker first built byHorace de Saussurein 1767. 74A basic box cooker consists of an insulated container with a transparent lid. It can be used effectively with partially overcast skies and will typically reach temperatures of 90150C. 75Panel cookers use a reflective panel to direct sunlight onto an insulated container and reach temperatures comparable to box cookers.Reflector cookers use divers(a) concentrating geometries (dish, trough, Fresnel mirrors) to focus light on a cooking container. These cookers reach temperatures of 315C and above but require direct light to function properly and must be repositioned to track the Sun. 76 Thesolar bowlis a concentrating technology employed by the Solar Kitchen atAuroville, inTamil Nadu,India, where a stationary worldwide reflector focuses light along a line perpendicular to the spheres interior surface, and a computer control system moves the receiver to intersect this line. Steam is produced in the receiver at temperatures reaching 150C and then used for process heat in the kitchen. 77A reflector developed byWolfgang Schefflerin 1986 is used in many solar kitchens. Scheffler reflectors are flexible parabolic dishes that combine aspects of trough and power tower concentrators. Polar trackingis used to follow the Suns daily course and the curvature of the reflector is adjusted for seaso nal variations in the incident angle of sunlight. These reflectors can reach temperatures of 450650C and have a fixed central point, which simplifies cooking. 78The worlds largest Scheffler reflector system in Abu Road,Rajasthan, India is capable of cooking up to 35,000 meals a day. 79As of 2008, over 2,000 large Scheffler cookers had been built worldwide. 80 PROCESS HEATSolar concentrating technologies such as parabolic dish, trough and Scheffler reflectors can provide process heat for commercial and industrial applications. The first commercial system was theSolar Total Energy Project(STEP) in Shenandoah, Georgia, the States where a field of 114 parabolic dishes provided 50% of the process heating, air conditioning and electrical requirements for a garb factory. This grid- connected cogeneration system provided 400kW of electricity plus thermal energy in the form of 401kW steam and 468kW chilled water, and had a one hour broadsheet load thermal storage. 81 Evaporation ponds are shallow pools that concentrate dissolved solids throughevaporation. The use of evaporation ponds to obtain salt from sea water is one of the oldest applications of solar energy.Modern uses include concentrating brine solutions used in leach mining and removing dissolved solids from waste streams. 82 Clothes lines,clotheshorses, and clothes racks dry clothes through evaporation by wind and sunlight without overwhelming electricity or gas. In some states of the United States legislation protects the right to dry clothes. 83 Unglazed transpired collectors (UTC) are perforated sun-facing walls used for preheating ventilation air. UTCs can raise the incoming air temperature up to 22C and deliver outlet temperatures of 4560C. 84The short payback period of transpired collectors (3 to 12years) makes them a more cost-effective alternative than glazed collection systems. 84As of 2003, over 80 systems with a combined collector area of 35,000m2had been installed worldwide, including an 860m2co llector inCosta Ricaused for drying coffee beans and a 1,300m2collector inCoimbatore, India used for drying marigolds. 28 ELECTRICITY PRODUCTION pic ThePS10concentrates sunlight from a field of heliostats on a central tower. Solar power is the conversion of sunlight intoelectricity, either directly usingphotovoltaics(PV), or indirectly usingconcentrated solar power(CSP). CSP systems use lenses or mirrors and tracking systems to focus a large area of sunlight into a small beam. PV converts light into electric current using thephotoelectric effect. Commercial CSP plants were first developed in the 1980s. Since 1985 the eventually 354 MWSEGSCSP installation, in the Mojave Desert of California, is the largest solar power plant in the world.Other large CSP plants include the 150 MWSolnova Solar precedent Stationand the 100 MWAndasol solar power station, two in Spain. The 250 MWAgua Caliente Solar Project, in the United States, and the 214 MWCharanka Solar ParkinIndia, are theworlds lar gestphotovoltaic plants. Solar projects especial(a) 1 GW are being developed, but most of the deployed photovoltaics are in small rooftop arrays of slight than 5 kW, which are grid connected using net metering and/or a feed-in tariff. 85 Concentrated solar power Concentrating Solar Power (CSP) systems use lenses or mirrors and tracking systems to focus a large area of sunlight into a small beam. The concentrated heat is then used as a heat source for a conventional power plant.A wide range of concentrating technologies exists the most developed are the parabolic trough, the concentrating analog fresnel reflector, the Stirling dish and the solar power tower. Various techniques are used to track the Sun and focus light. In all of these systems aworking fluidis heated by the concentrated sunlight, and is then used for power generation or energy storage. 86 PHOTOVOLTAICS PHOTOVOLTAICS A solar cadre, or photovoltaic booth (PV), is a device that converts light into electric current us ing the photoelectric effect. The first solar kiosk was constructed by Charles Fritts in the 1880s. In 1931 a German engineer, Dr Bruno Lange, developed a photo cubicle using silver selenite in place of copper oxide.Although the prototype selenium cells converted slight than 1% of incident light into electricity, both Ernst Werner von Siemens and James Clerk Maxwell recognized the importance of this discovery. Following the work of Russell Ohl in the 1940s, researchers Gerald Pearson, Calvin fraught(predicate) and Daryl Chapin created the te solar cell in 1954. These early solar cells cost 286 USD/watt and reached efficiencies of 4. 56%. By 2012 available efficiencies exceed 20% and the maximum capacity of research photovoltaics is over 40%. OTHERS anyways concentrated solar power and photovoltaics, there are some other techniques used to generated electricity using solar power. These include Dye-sensitized_solar_cells, Luminescent solar concentrators (a type of concentrated photovoltaics or CPV technology), Biohybrid solar cells, Photon Enhanced thermionic Emission systems. Development, deployment and economics Beginning with the surge in coal use which accompanied the Industrial Revolution, energy consumption has steadily transitioned from wood and biomass to fossil fuels. The early development of solar technologies starting in the 1860s was impelled by an expectation that coal would soon become scarce. However development of solar technologies stagnated in the early 20th century in the face of the increasing availability, economy, and utility of coal and petroleum. 109The 1973 oil embargo and 1979 energy crisis caused a reorganization of energy policies around the world and brought renewed attention to developing solar technologies. Deployment strategies pore on incentive programs such as the Federal Photovoltaic Utilization Program in the US and the Sunshine Program in Japan. Other efforts included the formation of research facilities in the US (S ERI, now NREL), Japan (NEDO), and Germany (Fraunhofer Institute for Solar Energy Systems ISE). Commercial solar water heaters began appearing in the United States in the 1890s. These systems saw increasing use until the 1920s but were gradually replaced by cheaper and more undeviating heating fuels.As with photovoltaics, solar water heating attracted renewed attention as a result of the oil crises in the 1970s but interest subsided in the 1980s payable to falling petroleum prices. Development in the solar water heating sector progressed steadily throughout the 1990s and growth rates have averaged 20% per year since 1999. 57 Although generally underestimated, solar water heating and cooling is by far the most widely deployed solar technology with an estimated capacity of 154 GW as of 2007. The International Energy Agency has said that solar energy can make considerable contributions to solving some of the most urgent problems the world now faces The development of affordable, inexh austible and clean solar energy technologies will have huge longer-term benefits.It will increase countries energy security through reliance on an indigenous, inexhaustible and mostly import-independent resource, enhance sustainability, reduce pollution, lower the costs of mitigating climate change, and keep fossil fuel prices lower than otherwise. These advantages are global. Hence the additional costs of the incentives for early deployment should be considered learning investments they must be wisely spent and need to be widely shared. In 2011, the International Energy Agency said that solar energy technologies such as photovoltaic panels, solar water heaters and power stations built with mirrors could provide a third of the worlds energy by 2060 if politicians commit to limiting climate change. The energy from the sun could play a key role in de-carbonizing the global economy alongside improvements in energy energy and alarming costs on greenhouse gas emitters. The strength of solar is the incredible variety and flexibility of applications, from small scale to big scale. We have proved that after our stores of oil and coal are wear upon the human race can receive unlimited power from the rays of the sun. Frank Shuman, New York Times, July 2, 1916 SOLAR carrell SOLAR CELL A solar cell made from amonocrystalline atomic number 14 wafer Solar cells can be used devices such as this portable monocrystalline solar charger. A solar cell (also called a photovoltaic cell) is an electrical device that converts the energy of light directly into electricity by the photovoltaic effect. It is a form of photoelectric cell (in that its electrical characteristicse. g. urrent, voltage, or resistancevary when light is incident upon it) which, when exposed to light, can generate and support an electric current without being attached to any foreign voltage source. The term photovoltaic comes from the Greek (phos) meaning light, and from Volt, the unit of electro-motive fo rce, the volt, which in turn comes from the last physical body of the Italian physicist Aless(prenominal)andro Volta, inventor of the battery (electrochemical cell). The term photo-voltaic has been in use in English since 1849. Photovoltaics is the field of technology and research related to the practical application of photovoltaic cells in producing electricity from light, though it is often used specifically to refer to the generation of electricity from sunlight.Cells can be described as photovoltaic even when the light source is not necessarily sunlight (lamplight, artificial light, etc. ). In such cases the cell is sometimes used as a photodetector (for example infrared detectors), detecting light or other electromagnetic radiationnear the visible range, or meter light intensity. The operation of a photovoltaic (PV) cell requires 3 basic attributes 1. The absorption of light, generating either electron-hole pairs or excitons. 2. The interval of charge carriers of opposite t ypes. 3. The separate extraction of those carriers to an external circuit. In contrast, a solar thermal collector collects heat by absorbing sunlight, for the purpose of either direct heating or indirect electrical power generation. Photoelectrolytic cell (photoelectrochemical cell), on the other hand, refers either a type of photovoltaic cell (like that developed by A. E. Becquerel and modern dye-sensitized solar cells) or a device that splits water directly into hydrogen and oxygen using but solar illumination. FURTHER IMPROVEMENTS In the time since Bermans work, improvements have brought production costs down under $1 a watt, with wholesale costs well under $2. Balance of system costs are now more than the panels themselves. Large commercial arrays can be built at below $3. 40 a watt,1213fully commissioned. As the semiconducting material industry moved to ever-larger boules, older equipment became available at fire-sale prices.Cells have grown in size as older equipment became available on the surplus market ARCO Solars original panels used cells with 2 to 4 butt on (51 to 100mm) diameter. Panels in the 1990s and early 2000s generally used 5inch (125mm) wafers, and since 2008 almost all new panels use 6inch (150mm) cells. This material has less efficacy, but is less expensive to produce in lot. The widespread introduction offlat screen televisionsin the late 1990s and early 2000s led to the wide availability of large sheets of high-quality glass, used on the front of the panels. In terms of the cells themselves, there has been only one major change. During the 1990s, poly ti cells became increasingly popular.These cells offer less efficiency than their mono te counterparts, but they are grown in large vats that greatly reduce the cost of production. By the mid-2000s, poly was dominant in the low-cost panel market, but more recently a variety of factors has pushed the higher performance mono back into widespread use. certain EVENTS Other technologies ha ve tried to enter the market. First Solarwas briefly the largest panel manufacturer in 2009, in terms of yearly power produced, using a write out-film cell sandwiched between two layers of glass. Since then silicon panels reasserted their dominant position both in terms of lower prices and the rapid rise of Chinese manufacturing, resulting in the top producers being Chinese.By late 2011, efficient production in China, coupled with a fail in European demand due to budgetary turmoil had dropped prices for crystalline solar-based modules further, to about $1. 0913per watt in October 2011, down sharply from the price per watt in 2010. A more modern process, mono-like-multi, aims to offer the performance of mono at the cost of poly, and is in the process of being introduced in 2012citation needed. APPLICATIONS pic Polycrystallinephotovoltaic cells laminated to backup material in a module pic pic Polycrystalline photovoltaic cells Solar cells are often electrically connected and encap sulated as amodule. Photovoltaic modules often have a sheet of glass on the front (sun up) side, allowing light to pass while protecting the emiconductorwafersfrom abrasion and impact due to wind-driven debris,rain,hail, etc. Solar cells are also usually connected inseriesin modules, creating an additivevoltage. Connecting cells in twin will yield a higher current however, very significant problems exist with parallel connections. For example, keister effects can shut down the weaker (less illuminated) parallel string (a number of series connected cells) causing substantial power loss and even damaging the weaker string because of the excessivereverse bias employ to the shadowed cells by their illuminated partners. Strings of series cells are usually handled independently and not connected in parallel, special paralleling circuits are the exceptions.Although modules can be interconnected to create anarraywith the desired peak DC voltage and loading current capacity, using independ ent MPPTs (maximum power point trackers) provides a better solution. In the absence of paralleling circuits, shunt diodes can be used to reduce the power loss due to shadowing in arrays with series/parallel connected cells. To make practical use of the solar-generated energy, the electricity is most often fed into the electricity grid using inverters (grid-connectedphotovoltaic systems) in stand-alone systems, batteries are used to store the energy that is not needed immediately. Solar panels can be used to power or recharge portable devices. THEORYThe solar cell works in three steps 1. Photonsinsunlighthit the solar panel and are absorbed by semiconducting materials, such as silicon. 2. Electrons(negatively charged) are knocked loose from their atoms, causing an electric potential difference. Current starts flowing through the material to cancel the potential and this electricity is captured. Due to the special composition of solar cells, the electrons are only allowed to move in a single direction. 3. An array of solar cells converts solar energy into a usable amount ofdirect current(DC) electricity. EFFICIENCY Solar panels on the International Space Station absorb light from both sides.These biface cells are more efficient and operate at lower temperature than single sided equivalents. The efficiency of a solar cell may be broken down into reflectance efficiency, thermodynamic efficiency, charge carrier musical interval efficiency and conductive efficiency. The overall efficiency is the product of each of these individual efficiencies. A solar cell usually has a voltage dependent efficiency curve, temperature coefficients, and shadow angles. Due to the difficulty in measuring these line of reasonings directly, other parameters are measured instead thermodynamic efficiency, quantum efficiency,integrated quantum efficiency, VOC ratio, and fill factor.Reflectance losses are a portion of the quantum efficiency under external quantum efficiency. Recombination losses make up a portion of the quantum efficiency, VOC ratio, and fill factor. Resistive losses are predominantly categorized under fill factor, but also make up minor portions of the quantum efficiency, VOC ratio. The fill factor is defined as the ratio of the actual maximum getable power to the product of the open circuit voltage and short circuit current. This is a key parameter in evaluating the performance of solar cells. Typical commercial solar cells have a fill factor 0. 70. Grade B cells have a fill factor usually between 0. 4 to 0. 7. 14 Cells with a high fill factor have a low equivalent series resistance and a high equivalent shunt resistance, so less of the current produced by the cell is dissipated in internal losses. Single pn junction crystalline silicon devices are now access the theoretical limiting power efficiency of 33. 7%, noted as the ShockleyQueisser limit in 1961. In the extreme, with an infinite number of layers, the corresponding limit is 86% using con centrated sunlight. pic Reported timeline of solar cell energy conversion efficiencies (from National Renewable Energy Laboratory (USA)) MATERIALS pic pic TheShockley-Queisser limitfor the theoretical maximum efficiency of a solar cell. Semiconductors withband good luckbetween 1 and 1. eV, or near-infrared light, have the greatest potential to form an efficient cell. (The efficiency limit shown here can be exceeded bymultijunction solar cells. ) Various materials display alter efficiencies and have varying costs. Materials for efficient solar cells must have characteristics matched to the spectrum of available light. Some cells are designed to expeditiously convert wavelengths of solar light that reach the Earth surface. However, some solar cells are optimized for light absorption beyond Earths atmosphere as well. Light absorbing materials can often be used inmultiple physical configurationsto take advantage of different light absorption and charge separation mechanisms.Materials presently used for photovoltaic solar cells includemonocrystalline silicon,polycrystalline silicon, unformed silicon,cadmium telluride, andcopper indium selenide/sulfide. 2526 legion(predicate) currently available solar cells are made from pot materials that are cut intowafersbetween clxxx to 240micrometers midst that are then processed like other semiconducting materials. Other materials are made asthin-filmslayers, fundamentaldyes, and organicpolymersthat are deposited onsupporting substratums. A third group are made fromnanocrystalsand used asquantum dots(electron-confinednanoparticles). Silicon remains the only material that is well-researched in bothbulkandthin-filmforms. CRYSTALLINE ti picBasic structure of a silicon based solar cell and its working mechanism. By far, the most prevailing bulk material for solar cells is crystalline silicon (abbreviated as a group as c-Si), also known as solar grade silicon. Bulk silicon is separated into multiple categories tally to c rystallinity and crystal size in the resulting ingot, ribbon, orwafer. 1. monocrystalline silicon (c-Si) often made using the Czochralski process. Single-crystal wafer cells tend to be expensive, and because they are cut from cylindrical ingots, do not completely cover a square solar cell module without a substantial waste of refined silicon. Hence most c-Si panels have uncovered gaps at the four corners of the cells. 2. olycrystalline silicon, or multicrystalline silicon, (poly-Si or mc-Si) made from cast square ingots large blocks of molten silicon conservatively cooled and solidified. Poly-Si cells are less expensive to produce than single crystal silicon cells, but are less efficient. United States Department of Energy data show that there were a higher number of polycrystalline sales than monocrystalline silicon sales. 3. ribbon silicon is a type of polycrystalline silicon it is formed by drawing flat thin films from molten silicon and results in a polycrystalline structure. These cells have lower efficiencies than poly-Si, but save on production costs due to a great reduction in silicon waste, as this approach does not require sawing from ingots. 4. ono-like-multi silicon Developed in the 2000s and introduced commercially around 2009, mono-like-multi, or cast-mono, uses existing polycrystalline casting chambers with small seeds of mono material. The result is a bulk mono-like material with poly around the outsides. When sawn apart for process, the inner sections are high-efficiency mono-like cells (but square instead of clipped), while the satellite edges are sold off as conventional poly. The result is line that produces mono-like cells at poly-like prices. Analysts have predicted that prices of polycrystalline silicon will drop as companies build additional polysilicon capacity quicker than the industrys projected demand. On the other hand, the cost of producing upgraded metallic elementlurgical-grade silicon, also known as UMG Si, can potentially b e one-sixth that of makingpolysilicon.Manufacturers of wafer-based cells have responded to high silicon prices in 20042008 prices with rapid reductions in silicon consumption. According to Jef Poortmans, director of IMECs organic and solar department, current cells use between eight and nine grams of silicon per watt of power generation, with wafer thicknesses in the propinquity of 0. 200 mm. At 2008 springs IEEEPhotovoltaic Specialists Conference (PVS08), John Wohlgemuth, staff scientist at BP Solar, reported that his company has qualified modules based on 0. 180 mm thick wafers and is testing processes for 0. 16 mm wafers cut with 0. 1 mm wire. IMECs road map, presented at the organizations recent annual research review meeting, envisions use of 0. 08 mm wafers by 2015. atomic number 31 arsenide multijunctionHigh-efficiency multijunction cells were originally developed for special applications such as satellites and space exploration, but at present, their use in terrestrial conc entrators capability be the utmost cost alternative in terms of $/kWh and $/W. 35 These multijunction cells consist of multiple thin films produced using metalorganic vapour phase epitaxy. A triple-junction cell, for example, may consist of the semiconducting materials GaAs, Ge, and GaInP2. 36 Each type of semiconductor will have a characteristic band gap energy which, loosely speaking, causes it to absorb light most efficiently at a certain color, or more precisely, to absorb electromagnetic radiation over a portion of the spectrum.Combinations of semiconductors are carefully chosen to absorb nearly the entire solar spectrum, thus generating electricity from as much of the solar energy as possible. GaAs based multijunction devices are the most efficient solar cells to date. In October 15, 2012, triple junction metamorphic cell reached a record high of 44%. 37 Tandem solar cells based on monolithic, series connected, gallium indium phosphide (GaInP), gallium arsenide GaAs, and a tomic number 32 Ge pn junctions, are seeing demand rapidly rise. Between declination 2006 and December 2007, the cost of 4N gallium metal rose from about $350 per kg to $680 per kg. Additionally, germanium metal prices have travel substantially to $10001200 per kg this year.Those materials include gallium (4N, 6N and 7N Ga), arsenic (4N, 6N and 7N) and germanium, pyrolitic boron nitride (pBN) crucibles for growing crystals, and boron oxide, these products are critical to the entire substratum manufacturing industry. Triple-junction GaAs solar cells were also being used as the power source of the Dutch four-time World Solar Challenge winners Nuna in 2003, 2005 and 2007, and also by the Dutch solar carsSolutra (2005), Twente iodin (2007) and 21Revolution (2009). The Dutch Radboud University Nijmegen set the record for thin film solar cell efficiency using a single junction GaAs to 25. 8% in August 2008 using only 4 m thick GaAs layer which can be transferred from a wafer base to gl ass or plastic film. THIN FILMS picMarket share of the different PV technologiesIn 2010 the market share of thin film declined by 30% as thin film technology was displaced by more efficient crystalline silicon solar panels (the light and contraband blue bars). Thin-film technologies reduce the amount of material required in creating the active material of solar cell. near thin film solar cells are sandwiched between two panes of glass to make a module. Since silicon solar panels only use one pane of glass, thin film panels are approximately twice as heavy as crystalline silicon panels. The majority of film panels have significantly lower conversion efficiencies, lagging silicon by two to three percentage points. 31Thin-film solar technologies have enjoyed large investment due to the success of First Solar and the largely unfulfilled promise of lower cost and flexibility compared to wafer silicon cells, but they have not become mainstream solar products due to their lower efficien cy and corresponding larger area consumption per watt production. Cadmium telluride(CdTe),copper indium gallium selenide(CIGS) andamorphous silicon(A-Si) are three thin-film technologies often used as outdoor photovoltaic solar power production. CdTe technology is most cost competitive among them. 32CdTe technology costs about 30% less than CIGS technology and 40% less than A-Si technology in 2011. CADMIUM TELLURIDE SOLAR CELLA cadmium telluride solar cell uses a cadmium telluride (CdTe) thin film, asemiconductorlayer to absorb and convert sunlight into electricity. Solarbuzzhas reported that the lowest quoted thin-film module price stands at US$0. 84 perwatt-peak, with the lowest crystalline silicon (c-Si) module at $1. 06 per watt-peak. 33 Thecadmiumpresent in the cells would be toxic if released. However, release is impossible during normal operation of the cells and is unlikely during ? res in residential roofs. 34A square meter of CdTe contains approximately the same amount of Cd as a single C cellNickel-cadmium battery, in a more stable and less soluble form. 34COPPER INDIUM GALLIUM SELENIDE Copper indium gallium selenide (CIGS) is adirect band gapmaterial. It has the highest efficiency (20%) among thin film materials (seeCIGS solar cell). Traditional methods of fabrication involve vacuum processes including co-evaporation and sputtering. fresh developments atIBMandNanosolarattempt to lower the cost by using non-vacuum solution processes. GALLIUM ARSENIDE MULTIJUNCTION High-efficiency multijunction cells were originally developed for special applications such assatellitesandspace exploration, but at present, their use in terrestrial concentrators might be the lowest cost alternative in terms of $/kWh and $/W. 35These multijunction cells consist of multiple thin films produced usingmetalorganic vapour phase epitaxy. A triple-junction cell, for example, may consist of the semiconductorsGaAs,Ge, andGaInP2. 36Each type of semiconductor will have a characte risticband gapenergy which, loosely speaking, causes it to absorb light most efficiently at a certain color, or more precisely, to absorbelectromagnetic radiationover a portion of the spectrum. Combinations of semiconductors are carefully chosen to absorb nearly all of the solar spectrum, thus generating electricity from as much of the solar energy as possible. GaAs based multijunction devices are the most efficient solar cells to date.In October 15, 2012, triple junction metamorphic cell reached a record high of 44%. 37 Tandem solar cells based on monolithic, series connected, gallium indium phosphide (GaInP), gallium arsenide GaAs, and germanium Ge pn junctions, are seeing demand rapidly rise. Between December 2006 and December 2007, the cost of 4N gallium metal rose from about $350 per kg to $680 per kg. Additionally, germanium metal prices have risen substantially to $10001200 per kg this year. Those materials include gallium (4N, 6N and 7N Ga), arsenic (4N, 6N and 7N) and germa nium, pyrolitic boron nitride (pBN) crucibles for growing crystals, and boron oxide, these products are critical to the entire substrate manufacturing industry.Triple-junction GaAs solar cells were also being used as the power source of the Dutch four-timeWorld Solar ChallengewinnersNunain 2003, 2005 and 2007, and also by the Dutch solar carsSolutra (2005),Twente One (2007)and 21Revolution (2009). The DutchRadboud University Nijmegenset the record for thin film solar cell efficiency using a single junction GaAs to 25. 8% in August 2008 using only 4m thick GaAs layer which can be transferred from a wafer base to glass or plastic film. Light-absorbing dyes (DSSC) Dye-sensitized solar cells(DSSCs) are made of low-cost materials and do not need elaborate equipment to manufacture, so they can be made in aDIYfashion, mayhap allowing players to produce more of this type of solar cell than others. In bulk it should be significantly less expensive than oldersolid-statecell designs.DSSCs can be engineered into flexible sheets, and although itsconversion efficiencyis less than the bestthin film cells, itsprice/performance ratioshould be high enough to allow them to compete withfossil fuel electrical generation. Typically arutheniummetalorganicdye(Ru-centered) is used as amonolayerof light-absorbing material. The dye-sensitized solar cell depends on amesoporouslayer ofnanoparticulatetitanium dioxideto greatly amplify the surface area (200300 m2/g TiO2, as compared to approximately 10 m2/g of flat single crystal). The photogenerated electrons from thelight absorbing dyeare passed on to then-typeTiO2, and the holes are absorbed by anelectrolyteon the other side of the dye.The circuit is holy by a redox couple in the electrolyte, which can be tranquil or solid. This type of cell allows a more flexible use of materials, and is typically manufactured byscreen printingor use ofUltrasonic Nozzles, with the potential for lower processing costs than those used forbulksolar cells . However, the dyes in these cells also suffer fromdegradationunder heat andUVlight, and the cell casing is difficult tosealdue to the solvents used in assembly. In spite of the above, this is a popular emerging technology with some commercial impact forecast within this decade. The first commercial payload of DSSC solar modules occurred in July 2009 from G24i Innovations. 38 Quantum Dot Solar Cells (QDSCs)Quantum dot solar cells(QDSCs) are based on the Gratzel cell, ordye-sensitized solar cell, architecture but employ lowband gapsemiconductornanoparticles, fabricated with such small crystallite sizes that they formquantum dots(such asCdS,CdSe,Sb2S3,PbS, etc. ), instead of organic or organometallic dyes as light absorbers. Quantum dots (QDs) have attracted much interest because of their unique properties. Their size quantization allows for theband gapto be tuned by just changing particle size. They also have highextinction coefficients, and have shown the possibility ofmultiple ex citon generation. 39 In a QDSC, amesoporouslayer oftitanium dioxidenanoparticles forms the backbone of the cell, much like in a DSSC.This TiO2layer can then be made photoactive by coating with semiconductor quantum dots usingchemical can deposition,electrophoretic deposition, or successive ionic layer adsorption and reaction. The electrical circuit is then completed through the use of a liquid or solidredox couple. During the last 34 years, the efficiency of QDSCs has increased rapidly40with efficiencies over 5% shown for both liquid-junction41and solid state cells. 42In an effort to slack production costs of these devices, thePrashant Kamatresearch group43recently demonstrated a solar paint made with TiO2and CdSe that can be applied using a one-step method to any conductive surface and have shown efficiencies over 1%. 44 Organic/polymer solar cellsOrganic solar cellsare a relatively novel technology, yet hold the promise of a substantial price reduction (over thin-film silicon) a nd a faster return on investment. These cells can be processed from solution, hence the possibility of a simple roll-to-roll printing process, leading to inexpensive, large scale production. Organic solar cells andpolymer solar cellsare built from thin films (typically 100nm) oforganic semiconductorsincluding polymers, such aspolyphenylene vinyleneand small-molecule compounds like copper phthalocyanine (a blue or green organic pigment) andcarbon fullerenesand fullerene derivatives such asPCBM. Energy conversion efficiencies achieved to date using conductive polymers are low compared to inorganic materials.However, it has improved quickly in the last few years and the highestNREL(National Renewable Energy Laboratory) certified efficiency has reached 8. 3% for theKonarkaPower Plastic. 45In addition, these cells could be beneficial for some applications where mechanical flexibility and disposability are important. These devices differ from inorganic semiconductor solar cells in that th ey do not rely on the large built-in electric field of a PN junction to separate the electrons and holes created when photons are absorbed. The active region of an organic device consists of two materials, one which acts as an electron donor and the other as an acceptor.When a photon is converted into an electron hole pair, typically in the donor material, the charges tend to remain bound in the form of anexciton, and are separated when the exciton diffuses to the donor-acceptor interface. The short exciton diffusion lengths of most polymer systems tend to limit the efficiency of such devices. Nanostructured interfaces, sometimes in the form of bulk heterojunctions, can improve performance. 46 In 2011, researchers at the Massachusetts Institute of Technology and Michigan State University developed the first highly efficient transparent solar cells that had a power efficiency close to 2% with a transparency to the human eye greater than 65%, achieved by selectively absorbing the ultr aviolet and near-infrared parts of the spectrum with small-molecule compounds. 4748Researchers at UCLA more recently developed an analogous polymer solar cell, following the same approach, that is 70% transparent and has a 4% power conversion efficiency. 49The efficiency limits of both opaque and transparent organic solar cells were recently outlined. 5051These lightweight, flexible cells can be produced in bulk at a low cost, and could be used to create power generating windows. Silicon thin films Silicon thin-film cellsare mainly deposited bychemical vapor deposition(typically plasma-enhanced, PE-CVD) fromsilanegas andhydrogengas. Depending on the deposition parameters, this can yield52 1. shapeless silicon(a-Si or a-SiH) 2. Protocrystallinesilicon or 3. Nanocrystalline silicon(nc-Si or nc-SiH), also called microcrystalline silicon.It has been found that protocrystalline silicon with a low volume fraction of nanocrystalline silicon is optimal for high open circuit voltage. 53Thes e types of silicon present abeyance and twisted bonds, which results in deep defects (energy levels in the bandgap) as well as twisting of the valence and conduction bands (band tails). The solar cells made from these materials tend to have lowerenergy conversion efficiencythanbulksilicon, but are also less expensive to produce. Thequantum efficiencyof thin film solar cells is also lower due to reduced number of collected charge carriers per incident photon. An amorphous silicon (a-Si) solar cell is made of amorphous or microcrystalline silicon and its basic electronic structure is thep-i-njunction. -Si is attractive as a solar cell material because it is abundant and non-toxic (unlike its CdTe counterpart) and requires a low processing temperature, enabling production of devices to occur on flexible and low-cost substrates. As the amorphous structure has a higher absorption rate of light than crystalline cells, the complete light spectrum can be absorbed with a very thin layer of photo-electrically active material. A film only 1 micron thick can absorb 90% of the usable solar energy. 54This reduced material requirement along with current technologies being capable of large-area deposition of a-Si, the scalability of this type of cell is high.However, because it is amorphous, it has high inherent disorder and dangling bonds, making it a bad conductor for charge carriers. These dangling bonds act as recombination centers that severely reduce the carrier lifetime and pin the Fermi energy level so that doping the material to n- or p- type is not possible. Amorphous Silicon also suffers from the Staebler-Wronski effect, which results in the efficiency of devices utilizing amorphous silicon dropping as the cell is exposed to light. The production of a-Si thin film solar cells uses glass as a substrate and deposits a very thin layer of silicon byplasma-enhanced chemical vapor deposition(PECVD).A-Si manufacturers are working towards lower costs per watt and higher conversion efficiency with continuous research and development onMultijunction solar cellsfor solar panels. Anwell Technologies Limitedrecently announced its target for mul