photovoltaic (PV)

directly convert solar energy into electricity using a PV cell; this is a semiconductor device that converts solar energy into electricity. (See also concentrated solar power).

plug-in hybrid electric vehicle (PHEV)

contain both an internal combustion engine and a motor with battery pack. In contrast, a regular hybrid vehicle does not have enough battery storage on board to be worthwhile adding a plug-in capability. PHEVs tend to have a shorter electric-driving range than EVs, but conversely have the benefit of a back-up internal combustion engine should the battery get drained.

power generation

fuel use in electricity plants, heat plants and combined heat and power (CHP) plants. Both main activity producer plants and small plants that produce fuel for their own use (autoproducers) are included.

price cap

a cap set on the price of traded emissions allowances.

private equity

money invested in companies that are not publicly traded on a stock exchange or invested as part of buyouts of publicly traded companies in order to make them private companies.

project finance

the financing of long-term infrastructure, industrial projects and public services, based upon a non-recourse or limited recourse financial structure where project debt and equity used to finance the project are paid back from the cashflow generated by the project.

purchasing power parity (PPP)

the rate of currency conversion that equalises the purchasing power of different currencies. It makes allowance for the differences in price levels and spending patterns between different countries.