The Cost of Renewable Power: A Survey of Recent Estimates - Green Energy and Efficiency: An Economic Perspective - page 230

The Cost of Renewable Power: A Survey
of Recent Estimates

Ignacio Maule n

ó

Abstract This paper presents the results of an overview and survey of recent, up-to-
date estimates of the cost of generating electric power from renewables. The results
are based on actual data from projects already implemented or commissioned, and
are organised as homogeneously and comparably as possible. Two main cost
measures are considered: total capital costs, and its two main components, equip-
ment, and remaining installation costs, and the Levelised Cost of Electricity (LCOE).
An extended discussion on the de

nition and meaning of this latter cost measure is
also provided in an appendix. The chapter closes with some re ections and forecasts

of the likely scenario for the power business in the coming years.

Keywords Renewable power technologies Levelized cost of electricity Capital

cost Learning rates Dispatchability

JEL codes Q00 Q20

List of Acronyms

BNEF Bloomberg New Energy Finance

BIPV Building Integrated Photo Voltaic

BoS Balance of system cost

CCS Carbon Capture and Storage

CdTe Cadmium-Telluride (PV cell)

CHP Concentrated Heat and Power

CSP Concentrated Solar Power

c-Si Crystalline Silicon (PV cell)

DLC Discounted Lifetime Cost

DLG Discounted Lifetime Generation

Direct Normal Irradiance, (kWh/m 2 /year)

DNI