Comparing The Costs Of Renewable And Conventional Energy Sources

Reference Document: Comparing The Costs Of Renewable And Conventional Energy Sources, http://energyinnovation.org/2015/02/07/levelized-cost-of-energy/ , February 7, 2015 Author: Energy Innovation Policy and Technology LLC, http://energyinnovation.org/ Their mission is to accelerate progress in clean energy by supporting the policies that most effectively reduce greenhouse gas emissions. Definition: Levelized Energy Cost (LEC), https://en.wikipedia.org/wiki/Cost_of_electricity_by_source is the net present value of the cost of the electricity over the lifetime of a generating asset ($), divided by the total power produced (Mwh). Notes! Costs are specific to each unique situation. You cannot easily compare costs from different studies. Calculating costs depends to some degree on assumptions. In this study the environmental cost of fossil fuels is not included. Solar and wind may require battery storage. Coal plants take longer to ramp up. Solar and wind have very little variable cost. If there is no demand then excess power goes nowhere. Siting and making use of existing structures may effect cost. Coal_fired_power_plant_diagram.svg This image is a work of a United States Tennessee Valley Authority employee, taken or made as part of that person's official duties. As a work of the U.S. federal government, the image is in the public domain in the United States.