Wind and Solar Electricity Cost Twice as Much as Conventional Power Plants

 

 

By Institute for Energy Research

Summary of key points:

“Intermittent” Wind and Solar resources increase the Levelized Cost of Electricity (LCOE) of “full-time power plants”  by reducing their utilization rates ……….without reducing their fixed costs, resulting in a levelized fixed cost increase.

Our calculations estimate that the “imposed cost” of wind generation is about $24 per MWh  (of wind generation) when we model the cost against new CC gas generation it might displace,  and the imposed cost of solar generation is about $21 per MWh (of solar generation) 
when we model the CC and combustion turbine (CT) gas generation it might displace. 

The average LCOEs from existing coal ($41), CC gas ($36), nuclear ($33) and hydro ($38) resources  are less than half the cost of new wind resources ($90) or new PV solar resources ($88.7) with imposed costs included.

Continuing to operate existing natural gas, coal, nuclear and hydroelectric resources
is far less costly than building and operating new plants to replace them

Read full article on IER

 

Submitted by By Keith Moore, Oxnard Resident


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