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Caspian Energy Journal Caspian European Club
Monday, 31 August 2015 21:00

Joint IEA-NEA report details plunge in costs of producing electricity from renewables

According to the IEA’s report, overnight costs for natural gas-fired CCGTs in OECD countries range from USD 845/kWe (Korea) to USD 1 289/kWe (New Zealand). In LCOE terms, costs at a 3% discount rate range from a low of USD 61/ MWh in the United States to USD 133/MWh in Japan. The United States has the lowest cost CCGT in LCOE terms, despite having a relatively high capital cost, which demonstrates the significant impact that variations in fuel price can have on the final cost. At a 7% discount rate, LCOEs range from USD 66/MWh (United States) to USD 138/MWh (Japan), and at a 10% discount rate they range from USD 71/MWh (United States) to USD 143/MWh (Japan), Caspian Energy News (www.caspianenergy.net) reports with reference to the Report “Projected Costs of Generating Electricity: 2015 Edition”.

Overnight costs for coal plants in OECD countries range from a low of USD 1 218/kWe in Korea to a high of USD 3 067/kWe in Portugal. In OECD countries, LCOEs at a 3% discount rate range from a low of USD 66/MWh in Germany to a high of USD 95/MWh in Japan. At a 7% discount rate, LCOEs range from USD 76/MWh (Germany) to USD 107/MWh (Japan), and at a 10% discount rate they range from USD 83/MWh (Germany) to USD 119/MWh (Japan).

The range of overnight costs for nuclear technologies in OECD countries is large, from a low of USD 1 087/kWe in Korea to a high of USD 6 215/kWe in Hungary. LCOEs at a 3% discount rate range from USD 29/MWh in Korea to USD 64/MWh in the United Kingdom, USD 40/MWh (Korea) to USD 101/MWh (United Kingdom) at a 7% discount rate and USD 51/MWh (Korea) to USD 136/MWh (United Kingdom) at 10%.

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