1. A comprehensive review of variable renewable energy levelized cost of electricity.
- Author
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Shen, Wei, Chen, Xi, Qiu, Jing, Hayward, Jennifier A, Sayeef, Saad, Osman, Peter, Meng, Ke, and Dong, Zhao Yang
- Subjects
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RENEWABLE energy costs , *PLANT performance , *ELECTRICITY , *ELECTRIC power production , *TECHNICAL reports - Abstract
Levelized cost of electricity (LCOE) is widely used to compare the cost of different electricity generation technologies. However, with the increasing penetration of variable renewable energy (VRE), it is inappropriate to use traditional equations to calculate the LCOE for non-dispatchable VRE due to its intermittent nature. Therefore, this paper reviews LCOE for renewable generation considering aspects such as improving traditional methods for evaluating and reducing the LCOE of VRE. The existing methods for improving the accuracy of the traditional LCOE have been divided into four aspects: investment-related cost, operating-related cost, expressions for plant performance and the uncertainty and risk-related costs. The review summarizes the existing studies from academic articles and technical reports and proposes suggestions for future research studies. • Comprehensive Levelized cost of electricity (LCOE) methods review. • LCOE evaluation from cost, plant performance, uncertainty and risk. • Summary of existing methods for improving the LCOE estimation accuracy of variable renewable energy (VRE). • Compare and summarize the existing VRE LCOE methods in academic papers and technical reports. [ABSTRACT FROM AUTHOR]
- Published
- 2020
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