Armor 1-Simple 1st type of plating providing protection for your ship, we aren't exactly sure whether or not this is beter than shields...all we know is that when your shields go down, this will protect your engines and other components from damage...until you run out.
Cargo Hold-This option is basically useless. You can transfer your populations from planet to planet if you think they might be attacked, though we never do this. I guess it is a good idea to have 1 cargo ship around. Each cargo hold can carry 1 million people.
Ion Engine-This is the basic engine for your ships. Each engine will enable you to move one space on the tactical window, and 1/2 a space on the combat window. With cruisers you need 2 engines to move 1 space on the tactical window, and 4 to move 1 space on the combat window. You can only have 6 on Light Cruisers and below, and 12 on cruisers. You can't have any on Space Stations or Battle Stations.
Hull-What is the purpose of hull? We still don't have a complete idea of its purpose. We know that when your shields are down your hull takes damage, we know it can't take as much damage as armor. So why is it there??? It only costs 4 less than armor.
Space Yard 1-There are some very good strategies involving Space Yards that you can find in the basic strategies section. Space Yard 1's construct ships and space stations, your homeplanet starts out with 1. When you colonize a new planet though you will not get one there. You have to bring a space yard ship there. You will be given the option to build ships and stations wherever your space yards are.
Space Yard 2-Takes up 1 less space but costs twice as much. The difference here is that you can put one on a colonizing ship and colonize a planet and your planet will recieve an automatic space yard when colonized. You can also fit 1 Ion Engine and a Space Yard 2 in 5 spaces, thus enabling you to fit a Settlement on a Light Cruiser.
Outpost Module-Small but ineffective. When you colonize a planet with an outpost module you only give that panet 1 million people. It can grow to a maximum of 50 million people. It only takes up 5 spaces enabling you to put one on an escort and still fit an ion engine in.
Colonizing Module-When you colonize a planet with a colony module you get 50 million people there. It can grow to 500 million people. It takes up 10 space so you cant fit it on a frigate, but you can put it on a destroyer with a good amount of engines.
Settlement Module-When you colonize a planet with a settlement module you get 200 miilion people there. It can grow to 3 billion people. It takes up 15 space so you can fit one on a Light Cruiser and have a good amount of engines.
ECM 1-This disrupts your opponents sensors during combat. They have a 10% less chance of hitting you. In the full version you get more powerful ECM's. But for now, too bad. This only takes up one space and can make a difference sometimes.
Combat Sensors 1-This gives you 10% better chance of hitting your opponent. Useful when you have a ship with long range weapons like disruptors. Only takes up 1 space. Can make a difference sometimes.
Multiplex Tracking 2-When you target your opponents without a Multiplex Tracking system you can only shoot at one ship at a time. With Multiplex Tracking 2 you can fire at 2 ships at a time. This can be incredibly effective in combat. It only takes up 1 space, so I suggest putting it in your light cruiser and cruiser attack and defense ships.
Multiplex Tracking 3-This is the same as Multiplex Tracking 2 except you can target 3 ships. It isn't much better than MT2, but it can be needed in Space Station Defenses. Put it in cruisers, it takes up 1 space.