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Journal articles on the topic 'Levelized cost of energy (LCOE)'

Author: Grafiati

Published: 11 January 2025

Last updated: 19 July 2025

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1

Yuliansyah, Rendy, Aditya Idamsyah, Irwan Paundra, and Bambang Priyono. "Techno Economy Comparison of Conventional Generating Unit and Lithium Battery Energy Storage as a Primary Frequency Regulation of Variable Renewable Energy Penetrated Grid System, Case Study: Southern Sulawesi of Indonesia." European Journal of Engineering Science and Technology 4, no. 3 (2021): 25–38. http://dx.doi.org/10.33422/ejest.v4i3.739.

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Integrating higher shares energy mix of variable renewable energy (VRE) technologies, such as wind and solar PV, in the energy transition process presents many challenges in its operation. One of the required services needed in this activity is the Primary Frequency Regulation (PFR). Many studies have studied various ways to provide PFR services, such as using the Conventional Generating Unit (CGU) and Lithium Battery Energy Storage (LiBESS). This paper presents several battery sizing methods used for comparison between the Levelized Cost of Electricity (LCOE) of a CGU and the Levelized Cost o

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Tahir, Mustafa, Sideng Hu, and Haoqi Zhu. "Advanced Levelized Cost Evaluation Method for Electric Vehicle Stations Concurrently Producing Electricity and Hydrogen." Energies 17, no. 11 (2024): 2682. http://dx.doi.org/10.3390/en17112682.

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This study develops a new method to evaluate the economic viability of co-generation electric vehicle stations that concurrently generate electricity and hydrogen for charging battery electric vehicles and refueling hydrogen vehicles. The approach uniquely differentiates the costs associated with various energy outputs in co-generation stations and includes often-overlooked peripheral devices critical for accurate evaluation of the levelized cost of electricity (LCOE) and hydrogen (LCOH). The method was tested across three design configurations: two featuring single storage options (battery an

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Cristea, Maria, Ciprian Cristea, Radu-Adrian Tîrnovan, and Florica Mioara Șerban. "Levelized Cost of Energy (LCOE) of Different Photovoltaic Technologies." Applied Sciences 15, no. 12 (2025): 6710. https://doi.org/10.3390/app15126710.

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Renewable energy sources are critical to the global effort to achieve carbon neutrality. Alongside hydropower, wind and nuclear plants, the photovoltaic (PV) systems developed greatly, with new PV technologies emerging in recent years. Although the conversion efficiencies are improving and the materials used have a lower impact on the environment, the feasibility of these technologies is required to be assessed. This paper proposes a levelized cost of energy (LCOE) model to assess the feasibility of five PV technologies: high-efficiency silicon heterojunction cells (HJT), N-type monocrystallin

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Urs, Rahul Rajeevkumar, Muhammad Sadiq, Ahmad Mayyas, and Ameena Al Sumaiti. "Technoeconomic Assessment of Various Configurations Photovoltaic Systems for Energy and Hydrogen Production." International Journal of Energy Research 2023 (February 6, 2023): 1–13. http://dx.doi.org/10.1155/2023/1612600.

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Photovoltaic (PV) system grid integration is becoming more global to minimize carbon emissions from traditional power systems. However, alternative solution investigation for maximum technical and economic benefits is often neglected when integrating PV systems. This study utilizes a methodology for evaluating the lifecycle energy generation and levelized cost of energy (LCOE) of PV systems with various configurations using a holistic approach that considers PV system expenditures from installation to the end-of-life PV system operation. In addition, this work focuses on finding a better confi

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Homeida, Azzam, Omar Algrouni, Shafiqur Rehman, and Zeeshan Anwar. "Techno-economic analysis of a wind/ solar PV hybrid power system to provide electricity for green hydrogen production." FME Transactions 52, no. 4 (2024): 647–58. http://dx.doi.org/10.5937/fme2404647h.

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Green hydrogen (GH) is recognized as a fundamental pillar in shaping a sustainable global future. The process involves the hydrolysis of water with sustainable electrical sources. This paper presents a techno-economic assessment of hybrid renewable wind and solar power systems in Yanbu, Saudi Arabia, to provide clean energy to enhance carbon-natural petrochemical operations. The implementation of Energy Compensation Policies, such as Net Energy Metering or Net Energy Billing Mechanisms, has a substantial influence on the financial viability of GH Plant. The present research compared the impact

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Thai, Clinton, and Jack Brouwer. "Comparative Levelized Cost Analysis of Transmitting Renewable Solar Energy." Energies 16, no. 4 (2023): 1880. http://dx.doi.org/10.3390/en16041880.

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A bottom-up cost analysis for delivering utility-scale PV-generated electricity as hydrogen through pipelines and as electricity through power is undertaken. Techno-economic, generation, and demand data for California are used to calculate the levelized cost of transmitting (LCOT) energy and the levelized cost of electricity (LCOE) prior to distribution. High-voltage levels of 230 kV and 500 kV and 24-inch and 36-inch pipelines for 100 to 700 miles of transmission are considered. At 100 miles of transmission, the cost of transmission between each medium is comparable. At longer distances, the

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Lucio, Cesar, Omar Behar, and Bassam Dally. "Techno-Economic Assessment of CPVT Spectral Splitting Technology: A Case Study on Saudi Arabia." Energies 16, no. 14 (2023): 5392. http://dx.doi.org/10.3390/en16145392.

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Concentrating PV thermal (CPVT) collector with spectral splitting technology is a promising solution for heat and electricity production. To extend the use of this technology, a novel and cost-effective CPVT collector for harsh environments, such as those in Saudi Arabia, is presented and evaluated using theoretical energy, economy, and environmental analysis. Two questions are answered in this study, namely: which is the best operation strategy, and which is the best energy storage technology for CPVT. The potential of using a CPVT under the climate conditions of six cities in Saudi Arabia is

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Lee, Chul-Yong, and Jaekyun Ahn. "Stochastic Modeling of the Levelized Cost of Electricity for Solar PV." Energies 13, no. 11 (2020): 3017. http://dx.doi.org/10.3390/en13113017.

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With the development of renewable energy, a key measure for reducing greenhouse gas emissions, interest in the levelized cost of electricity (LCOE) is increasing. Although the input variables used in the LCOE calculation, such as capacity factor, capital expenditure, annual power plant operations and maintenance cost, discount and interest rate, and economic life, vary according to region and project, most existing studies estimate the LCOE by using a deterministic methodology. In this study, the stochastic approach was used to estimate the LCOE for solar photovoltaic (PV) in South Korea. In a

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Garlapati, Nagababu, Kunj Patel, and Yagna Patel. "Exploring the Feasibility of Green Hydrogen Production Using Wind Energy in India." Environmental and Climate Technologies 29, no. 1 (2025): 21–34. https://doi.org/10.2478/rtuect-2025-0002.

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Abstract India heavily relies on coal for about 70 % of its energy demand, leading to a concerning 29 % increase in CO2 emissions from 2015 to 2022. The need for alternate fuels is evident with rising energy demand and the rapid depletion of fossil fuels. Green hydrogen emerges as a solution, leveraging renewable energy sources to mitigate environmental impact. This study assesses five high-speed wind locations in India for green hydrogen production, analysing wind resource potential using six different wind turbine (WT) models. A comprehensive techno-economic analysis was conducted to evaluat

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Guo, Chenglong, Wanan Sheng, Dakshina G. De Silva, and George Aggidis. "A Review of the Levelized Cost of Wave Energy Based on a Techno-Economic Model." Energies 16, no. 5 (2023): 2144. http://dx.doi.org/10.3390/en16052144.

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Wave energy provides a renewable and clear power for the future energy mix and fights against climate change. Currently, there are many different wave energy converters, but their costs of extracting wave energy are still much higher than other matured renewables. One of the best indicators of calculating the generating cost of wave energy is the ‘levelized cost of energy’ (LCOE), which is the combined capital expenditure (CAPEX), operational expenditure (OPEX), and decommissioning cost with the inclusion of the annual energy production, discount factor, and project’s lifespan. However, the re

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Oueslati, Fakher. "HOMER optimization of standalone PV/Wind/Battery powered hydrogen refueling stations located at twenty selected French cities." International Journal of Renewable Energy Development 12, no. 6 (2023): 1070–90. http://dx.doi.org/10.14710/ijred.2023.58218.

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The current study proposes a model of autonomous Hydrogen Refuelling Stations (HRFS) installed on different sites in twenty French cities powered by renewable clean energy sources. The station is fully powered by photovoltaic (PV) panels, wind turbines with battery storage and involving an electrolyzer and hydrogen tank for producing and storing hydrogen. Using Homer simulation, three scenarios are investigated to propose an optimized model, namely Scenario 1 containing (PV-Wind-Battery) system, Scenario 2 with (Wind-Battery) technologies and Scenario 3 with (PV-Battery) components. The otimiz

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Gaborieau, Maëlig, Ozlem Ceyhan Yilmaz, and Katherine Dykes. "Economic impact assessment of Hydrogen generated from Offshore Wind: A case study for Belgium." Journal of Physics: Conference Series 2507, no. 1 (2023): 012012. http://dx.doi.org/10.1088/1742-6596/2507/1/012012.

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Abstract Green hydrogen is increasingly cited as a solution to the decarbonisation of industry. Its large-scale production is still a recent topic with uncertainties. In this paper, an economic impact assessment (EIA) method is explained. A modular and flexible cost model is generated, which estimates the LCOE (Levelized Cost of Energy) of an offshore wind farm and the LCOH (Levelized Cost of Hydrogen) of a hydrogen generation plant either as a hybrid renewable energy system (HRES) or independent from each other. The costs are estimated using a schedule-based approach, which considers the reli

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Xia, Tian, Mostafa Rezaei, Udaya Dampage, et al. "Techno-Economic Assessment of a Grid-Independent Hybrid Power Plant for Co-Supplying a Remote Micro-Community with Electricity and Hydrogen." Processes 9, no. 8 (2021): 1375. http://dx.doi.org/10.3390/pr9081375.

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This study investigates the techno-economic feasibility of an off-grid integrated solar/wind/hydrokinetic plant to co-generate electricity and hydrogen for a remote micro-community. In addition to the techno-economic viability assessment of the proposed system via HOMER (hybrid optimization of multiple energy resources), a sensitivity analysis is conducted to ascertain the impact of ±10% fluctuations in wind speed, solar radiation, temperature, and water velocity on annual electric production, unmet electricity load, LCOE (levelized cost of electricity), and NPC (net present cost). For this, a

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Fairuz, Riadhi, Eko Adhi Setiawan, and Ikhsan Hernanda. "Mapping and Analysis of Initial cost Against Levelized Cost of Energy for Residential PV Rooftoop in Indonesia." E3S Web of Conferences 67 (2018): 01024. http://dx.doi.org/10.1051/e3sconf/20186701024.

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Future electricity tariffs are expected to increase. To overcome this condition, arise the idea how the residential can generate its own electricity by exploiting the potential of solar energy. However, there are some constraints in its implementation due to the difference of the initial cost and sales from solar PV systems in various region of Indonesia. The purpose of this study is to determine the impact of initial cost on the levelized cost of energy from the system. This study uses the calculation of Levelized Cost of Energy (LCoE) and economic feasibility analysis through the calculation

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Kuckshinrichs, Wilhelm. "LCOE: A Useful and Valid Indicator—Replica to James Loewen and Adam Szymanski." Energies 14, no. 2 (2021): 406. http://dx.doi.org/10.3390/en14020406.

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Chai, Zhe, Xing Chen, Shuo Yin, et al. "Construction of a new levelled cost model for energy storage based on LCOE and learning curve." E3S Web of Conferences 338 (2022): 01049. http://dx.doi.org/10.1051/e3sconf/202233801049.

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New energy storage is essential to the realization of the “dual carbon” goal and the new power system with new energy as the main body, but its cost is relatively high and the economy is poor at present. This paper studies the levelized cost of new energy storage based on the whole life cycle perspective. Based on LCOE and learning curve methods, a new levelled cost estimation model and prediction model for energy storage are constructed. Based on the latest development status of electrochemical new energy storage, the levelized cost of energy of lithium-ion batteries, flow-aluminum batteries,

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Khojasteh, Hasanali, Younes Noorollahi, Mojtaba Tahani, and Mehran Masdari. "Optimization of Power and Levelized Cost for Shrouded Small Wind Turbine." Inventions 5, no. 4 (2020): 59. http://dx.doi.org/10.3390/inventions5040059.

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Nowadays, by increasing energy demand and considering the importance of environmental issues in recent decades, the use of renewable energies is expanding. Among renewable energies, wind power and its technology are growing and evolving more rapidly. Resource assessment in Iran has revealed the significant potential of wind energy around the country. To further develop wind energy in the country and create large-scale wind power plants, the consideration of distributed power generation using small wind turbines for applications in agricultural and residential use is needed. Conventional small

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Mbouteu Megaptche, Christelle Arielle, Hanki Kim, Peter Moses Musau, Sebastian Waita, and Bernard Aduda. "Techno-Economic Comparative Analysis of Two Hybrid Renewable Energy Systems for Powering a Simulated House, including a Hydrogen Vehicle Load at Jeju Island." Energies 16, no. 23 (2023): 7836. http://dx.doi.org/10.3390/en16237836.

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This work undertakes a techno-economic comparative analysis of the design of photovoltaic panel/wind turbine/electrolyzer-H2 tank–fuel cell/electrolyzer-H2 tank (configuration 1) and photovoltaic panel/wind turbine/battery/electrolyzer-H2 tank (configuration 2) to supply electricity to a simulated house and a hydrogen-powered vehicle on Jeju Island. The aim is to find a system that will make optimum use of the excess energy produced by renewable energies to power the hydrogen vehicle while guaranteeing the reliability and cost-effectiveness of the entire system. In addition to evaluating the L

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Mehta, Mihir, Michiel Zaaijer, and Dominic von Terzi. "Optimum Turbine Design for Hydrogen Production from Offshore Wind." Journal of Physics: Conference Series 2265, no. 4 (2022): 042061. http://dx.doi.org/10.1088/1742-6596/2265/4/042061.

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Abstract To limit the consequences of climate change, generation from renewables coupled with large scale electrification is necessary. However, the deployment of renewables has its own challenges and not all sectors can be electrified. Hydrogen production from wind energy emerges as a promising solution that can alleviate these challenges. The current costs of green hydrogen production are high due to the high costs of electricity used for electrolysis. This study looks into the benefits of optimizing a turbine specifically for hydrogen production and the reduction in the Levelized Cost of Hy

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Li, Taiqi. "The influence of photovoltaic panel spacing on levelized cost of electricity." Journal of Physics: Conference Series 2786, no. 1 (2024): 012020. http://dx.doi.org/10.1088/1742-6596/2786/1/012020.

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Abstract The efficiency and economic viability of photovoltaic (PV) systems are key determinants of solar energy adoption and diffusion. In order to investigate the correlation between PV panel spacing and levelised cost of electricity (LCOE), the existing methods for optimizing PV design are first investigated and summarized. Numerical methods are then chosen to simulate the construction of a PV farm in Brisbane, and modelling simulations are carried out with PVsyst and SAM to derive the Shading loss and LCOE for different panel spacing. It is found that closer panel spacing may increase the

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Barthelmie, Rebecca J., Gunner C. Larsen, and Sara C. Pryor. "Modeling Annual Electricity Production and Levelized Cost of Energy from the US East Coast Offshore Wind Energy Lease Areas." Energies 16, no. 12 (2023): 4550. http://dx.doi.org/10.3390/en16124550.

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Offshore wind energy development along the East Coast of the US is proceeding quickly as a result of large areas with an excellent wind resource, low water depths and proximity to large electricity markets. Careful planning of wind turbine deployments in these offshore wind energy lease areas (LA) is required to maximize power output and to minimize wake losses between neighboring wind farms as well as those internal to each wind farm. Here, we used microscale wind modeling with two wake parameterizations to evaluate the potential annual energy production (AEP) and wake losses in the different

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Al-Rbaihat, Raed. "Sensitivity Analysis of a Hybrid PV-WT Hydrogen Production System via an Electrolyzer and Fuel Cell Using TRNSYS in Coastal Regions: A Case Study in Perth, Australia." Energies 18, no. 12 (2025): 3108. https://doi.org/10.3390/en18123108.

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This article presents a modeling and analysis approach for a hybrid photovoltaic wind turbine (PV-WT) hydrogen production system. This study uses the TRNSYS simulation platform to evaluate the system under coastal climate conditions in Perth, Australia. The system encapsulates an advanced alkaline electrolyzer (ELE) and an alkaline fuel cell (AFC). A comprehensive 4E (energy, exergy, economic, and environmental) assessment is conducted. The analysis is based on hourly dynamic simulations over a full year. Key performance metrics include hydrogen production, energy and exergy efficiencies, carb

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Camilo, Prieto, Patiño Diego, and Vuelvas José. "Estimation of Levelized Cost of Energy for Small Modular Reactors in Colombia: A Monte Carlo Simulation Approach." International Journal of Energy Economics and Policy 15, no. 4 (2025): 24–33. https://doi.org/10.32479/ijeep.19364.

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Small modular reactors (SMRs) offer significant prospects for Colombia to diversify and decarbonize its energy mix by 2038, as specified in the National Energy Plan (PEN) 2022-2052. However, current assessments primarily focus on capital expenditure (CAPEX) indicators, such as the overnight capital cost (OCC), while overlooking the Levelized cost of energy (LCOE), which provides a more comprehensive measure of long-term economic viability. This study employs a Monte Carlo simulation to calculate the LCOE of a 300 MW SMRs in Colombia for the 2038-2042 period, including probabilistic distributio

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Hwang, Kyu-Won, and Chul-Yong Lee. "Estimating the Deterministic and Stochastic Levelized Cost of the Energy of Fence-Type Agrivoltaics." Energies 17, no. 8 (2024): 1932. http://dx.doi.org/10.3390/en17081932.

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Agrivoltaics can be used to supply energy and produce agricultural products in order to meet the growing demand for energy and food. The amount of power generation is affected by the solar panel direction, spacing, tilt, and panel technology; however, there is insufficient empirical data-based research on the operation of agrivoltaics. This study estimates the levelized cost of energy (LCOE) for a fence-based agrivoltaics system using bifacial modules. This study installed and operated photovoltaic (PV) systems on a rice paddy and saltern in South Korea to estimate the input variables that cou

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Jiang, Weiyi, Taeyong Jung, Hancheng Dai, Pianpian Xiang, and Sha Chen. "Transition Pathways for Low-Carbon Steel Manufacture in East Asia: The Role of Renewable Energy and Technological Collaboration." Sustainability 17, no. 10 (2025): 4280. https://doi.org/10.3390/su17104280.

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As the core region of global steel production and consumption, the zero-carbon transition of China, Japan, and South Korea is crucial for global climate goals and industrial chain sustainability. Hydrogen-based direct reduction iron (H-DRI) production, powered by renewable energy, is a promising pathway for reducing carbon emissions. This study compares the competitive dynamics of hydrogen-based steel production in China, Japan, and South Korea, with a particular focus on the levelized cost of energy (LCOE), levelized cost of hydrogen (LCOH), and levelized cost of steel (LCOS) as key metrics f

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Tadbiri-Nooshabadi, Morteza, Jean-Luc Schanen, Shahrokh Farhangi, Hossein Iman-Eini, and Corentin Rizet. "Optimal Design of PV Inverter Using LCOE Index." Energies 16, no. 5 (2023): 2213. http://dx.doi.org/10.3390/en16052213.

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This work uses design optimization of a power electronics converter to achieve the best levelized cost of energy in a PV application. The methodology uses detailed models of power electronics’ active and passive components to determine the cost and performances of the solid-state energy conversion and connect them to the system-level vision. The deterministic algorithm used for converter sizing allows taking into account a large number of variables and constraints. Methodology, models, and some illustrations of the results are provided in this paper. A sensitivity analysis was also conducted o

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Sung, Sanghyun, and Wooyong Jung. "Economic Competitiveness Evaluation of the Energy Sources: Comparison between a Financial Model and Levelized Cost of Electricity Analysis." Energies 12, no. 21 (2019): 4101. http://dx.doi.org/10.3390/en12214101.

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The levelized cost of electricity (LCOE) is used widely to compare the economic competitiveness of the energy mix. This method is easy to understand and simple to apply, which makes it preferable for many energy policymakers. However, the method has several disadvantages from the energy business perspective. First, the LCOE approach does not consider revenue, and a high-interest rate usually correlates with the tariff growth rate. Thus, if a high-interest rate increases the cost, that high rate increases the revenue, which can affect economic competitiveness. Second, the LCOE does not consider

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Mendonça, Anny Key de Souza, and Antonio Cezar Bornia. "Electric power generation in wind farms with pumping kites: levelized cost of energy and sensitivity analysis." Research, Society and Development 9, no. 7 (2020): e666974528. http://dx.doi.org/10.33448/rsd-v9i7.4528.

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This research aims to analyze the levelized level energy cost of energy (LCOE) of wind farms with tethered airfoils. For this, it was considering the technical characteristics of the system, the location of operation, the necessary investments and the characteristics of the Brazilian market, to analyze the levelized cost of energy of three wind farm scenarios: Classic wind farm, Wind farm with tethered airfoils operating in Pumping Kite mode and a hybrid park with the two park configurations studied. The research makes use of the LCOE method. The results indicate that the technology with wired

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Villada, F., J. D. Saldarriaga-Loaiza, and J. M. López-Lezama. "Incentives for Renewable Energies in Colombia." Renewable Energy and Power Quality Journal 19 (September 2021): 24–26. http://dx.doi.org/10.24084/repqj19.203.

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This work analyses the potential effects of the incentives for renewable energies approved in Colombia by two main acts. A methodology involving adjustments for tax reductions and accelerated depreciation is used to evaluate the Levelized Cost of Electricity (LCOE) for the four main clean energy resources available in Colombia. The results show important reductions in the LCOE specially, under the act approved in the development plan of the new government, where the LCOE of three technologies is below the grid parity.

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Kinne, Marko, Muhammad Farhan, Ronald Schneider, and Sebastian Thöns. "Influence of the structural integrity management on the levelized cost of energy of offshore wind: a parametric sensitivity analysis." Acta Polytechnica CTU Proceedings 36 (August 18, 2022): 90–98. http://dx.doi.org/10.14311/app.2022.36.0090.

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The levelized cost of energy (LCoE) is an important measure to quantify the macro-economic efficiency of an offshore wind farm and to enable a quantitative comparison with other types of energy production. The costs of the structural integrity management - which is required to ensure an adequate lifetime reliability of the turbine support structures - are part of the operational expenditures of an offshore wind farm. An optimization of the structural integrity management may reduce the operational expenditures and consequently the LCoE. However, the effect of the structural integrity managemen

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Vlaykova, Olga, Teodora Hristova, Boris Evstatiev, and Martin Boyadjiev. "Methodology for choosing a hydrogen source based on a point system." E3S Web of Conferences 551 (2024): 02003. http://dx.doi.org/10.1051/e3sconf/202455102003.

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The article examines the usage of hydrogen in gas transmission pipes as one of the measures to achieve the criteria of sustainable development and reduction of carbon emissions. Regarding choosing an appropriate kind, hydrogen sources have been analyzed. Due to the multifactorial nature of the task, such as raw material, price, efficiency, popularity, and the availability of many studies, a point system was developed to evaluate the alternatives with significant criteria. On its basis, it was established that the cheapest and gentlest natural method is the electrolysis of water. For this purpo

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Timalsina, Dipak, and Davoud Ghahremanlou. "Optimizing Wind-to-Hydrogen Production in Newfoundland for Export: A Techno-Economic Perspective." European Journal of Energy Research 4, no. 2 (2024): 28–35. http://dx.doi.org/10.24018/ejenergy.2024.4.2.139.

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This study explores the feasibility of generating green hydrogen using wind energy in Newfoundland and Labrador (NL) for potential export to Germany, aiming to reduce their heavy reliance on grey hydrogen. NL features abundant wind resources, deep-water export harbours, and proximity to Europe, making it an ideal location to contribute to Europe’s energy security. Utilizing the Hybrid Optimization of Multiple Energy Resources (HOMER Pro) microgrid software, we conducted a techno-economic analysis of a wind-to-hydrogen case study at the Port au Port location aimed at offsetting 1% of Germany’s

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Sundaram, Arunachalam, Abdullahi Abubakar Mas’ud, Hassan Z. Al Garni, and Surajudeen Adewusi. "Assessment of off-shore wind turbines for application in Saudi Arabia." International Journal of Electrical and Computer Engineering (IJECE) 10, no. 5 (2020): 4507. http://dx.doi.org/10.11591/ijece.v10i5.pp4507-4513.

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This paper presents models and economic analysis of ten different wind turbines for the region of Yanbu, Saudi Arabia using the hybrid optimization models for energy resources (HOMER) software. This study serves as a guide for decision makers to choose the most suitable wind turbine for Yanbu to meet the target of 58.7GW of renewable energy as part of Saudi Vision 2030. The analysis was carried out based on the turbines initial capital cost, operating cost, net present cost (NPC) and the levelized cost of energy (LCOE). Additionally, the wind turbines were compared based on their electricity p

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Arunachalam, Sundaram, Abubakar Mas'ud Abdullahi, Z. Al Garni Hassan, and Adewusi Surajudeen. "Assessment of off-shore wind turbines for application in Saudi Arabia." International Journal of Electrical and Computer Engineering (IJECE) 10, no. 5 (2020): 4507–13. https://doi.org/10.11591/ijece.v10i5.pp4507-4513.

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This paper presents models and economic analysis of ten different wind turbines for the region of Yanbu, Saudi Arabia using the hybrid optimization models for energy resources (HOMER) software. This study serves as a guide for decision makers to choose the most suitable wind turbine for Yanbu to meet the target of 58.7GW of renewable energy as part of Saudi Vision 2030. The analysis was carried out based on the turbines initial capital cost, operating cost, net present cost (NPC) and the levelized cost of energy (LCOE). Additionally, the wind turbines were compared based on their electricity p

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Eyere, Emagbetere and Idowu Temitope Adeleye. "Modelling and Optimisation of Levilised-Cost-of-Energy Optimisation for Plant Selection in an Off-Grid Hybrid Energy System." Journal of Energy Technology and Environment 6, no. 4 (2024): 81–92. https://doi.org/10.5281/zenodo.14525374.

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<em>This study aims to develop a selection tool that would optimise levelized-cost-of-energy (LCOE) for a hybrid energy generating and distribution systems using FUPRE as a case study. The research begins with a detailed LCOE modelling process, dissecting the cost components of the hybrid energy system. A sensitivity analysis is conducted to identify and assess the impact of various factors such as capital costs, operational expenses, and energy output on the LCOE. Optimum solutions for selecting a suitable plant for 9 different supply areas with various energy sources, including, diesel gener

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Lee, Bong Jae, Jeong Il Lee, Soo Young Yun, Cheol-Soo Lim, and Young-Kwon Park. "Economic Evaluation of Carbon Capture and Utilization Applying the Technology of Mineral Carbonation at Coal-Fired Power Plant." Sustainability 12, no. 15 (2020): 6175. http://dx.doi.org/10.3390/su12156175.

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Based on the operating data of a 40 tCO2/day (2 megawatt (MW)) class carbon capture and utilization (CCU) pilot plant, the scaled-up 400 tCO2/day (20 MW) class CCU plant at 500 MW power plant was economically analyzed by applying the levelized cost of energy analysis (LCOE) and CO2 avoided cost. This study shows that the LCOE and CO2 avoided cost for 400 tCO2/day class CCU plant of mineral carbonation technology were 26 USD/MWh and 64 USD/tCO2, representing low LCOE and CO2 avoided cost, compared to other carbon capture and storage CCS and CCU plants. Based on the results of this study, the LC

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Matsuo, Yuhji. "Re-Defining System LCOE: Costs and Values of Power Sources." Energies 15, no. 18 (2022): 6845. http://dx.doi.org/10.3390/en15186845.

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The mass introduction of variable renewable energies, including wind and solar photovoltaic, leads to additional costs caused by the intermittency. Many recent studies have addressed these “integration costs,” and proposed novel metrics that replace the traditional metric known as the levelized cost of electricity (LCOE). However, the policy relevance of those metrics remains unclear. In this study, the author investigates and re-defines the concept of system LCOE, referring to prior studies, and proposes concrete methods to estimate them. Average system LCOE allocates the integration cost to

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Puppala, Saikumar, Piyush Pratap Singh, and Devendra Potnuru. "A Techno-Economic Analysis of Solar/Wind/Hydrokinetic Turbine-Based Green Hydrogen and Electricity-Generated Standalone DC Microgrid for Remote Area Applications." International Journal of Mathematical, Engineering and Management Sciences 10, no. 5 (2025): 1365–96. https://doi.org/10.33889/ijmems.2025.10.5.065.

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Access to reliable and sustainable energy is crucial for developing remote communities. Many remote communities need help accessing traditional grid infrastructure, resulting in energy deficits and reliance on expensive and harmful fuel sources. This article investigates the feasibility, planning, optimal, technical, and economic analysis of solar, wind, and hydrokinetic energy with battery storage-based standalone DC microgrids to produce green hydrogen and electricity for remote area applications. The proposed DC microgrid with net-zero emission and using sustainable resources in a remote ar

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S., Kibaara, Murage D.K., Musau P., and J. Saulo M. "The Challenges and Capabilities of the Existing Techno-economic Modelling Tools for Renewable Energy Utilization." European Journal of Advances in Engineering and Technology 6, no. 5 (2019): 57–64. https://doi.org/10.5281/zenodo.10688053.

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<strong>ABSTRACT</strong> Kenya is on the path of developing domestic renewable energy resources to reduce the overdependence on imported petroleum products and reduce carbon emissions. Presently, Kenya has increased the renewable energy penetration into the existing power systems for the purposes of reducing the overreliance on thermal power generation which stands at 36% and growing.  Environmental conditions affect renewable energy generation thereby making energy supply to be intermittent and uncertain. To understand the potential use of renewable energy technologies and the Levelized

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Li, Honglin, Mingxin Li, James Carroll, and Jie Zhang. "Techno-Economic Analysis Incorporating Intelligent Operation and Maintenance Management: A Case Study of An Integrated Offshore Wind and Hydrogen Energy System." Journal of Physics: Conference Series 2767, no. 6 (2024): 062016. http://dx.doi.org/10.1088/1742-6596/2767/6/062016.

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Abstract In this study, a comprehensive examination of wind-hydrogen energy systems is conducted through detailed techno-economic analysis and sensitivity analysis. The primary emphasis is on optimizing operation and maintenance (O&M) strategies and understanding the impacts of market dynamics. Utilizing Monte Carlo simulations, we first identify the optimal intelligent O&M plan, leading to significant reductions in annual O&M costs ($39.9/MW) and downtime (6.59 days per turbine) compared to conventional methods. The incorporation of prognostics and health management (PHM) further

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Brumana, Giovanni, Elisa Ghirardi, and Giuseppe Franchini. "Comparison of Different Power Generation Mixes for High Penetration of Renewables." Sustainability 16, no. 19 (2024): 8435. http://dx.doi.org/10.3390/su16198435.

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Growing environmental concerns have driven the installation of renewable systems. Meanwhile, the continuous decline in the levelized cost of energy (LCOE), alongside the decreasing cost of photovoltaics (PVs), is compelling the power sector to accurately forecast the performance of energy plants to maximize plant profitability. This paper presents a comprehensive analysis and optimization of a hybrid power generation system for a remote community in the Middle East and North Africa (MENA) region, with a 10 MW peak power demand. The goal is to achieve 90 percent of annual load coverage from ren

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Castro-Santos, Laura, Maite deCastro, Xurxo Costoya, et al. "Economic Feasibility of Floating Offshore Wind Farms Considering Near Future Wind Resources: Case Study of Iberian Coast and Bay of Biscay." International Journal of Environmental Research and Public Health 18, no. 5 (2021): 2553. http://dx.doi.org/10.3390/ijerph18052553.

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Wind energy resources are subject to changes in climate, so the use of wind energy density projections in the near future is essential to determine the viability and profitability of wind farms at particular locations. Thus, a step forward in determining the economic assessment of floating offshore wind farms was taken by considering current and near-future wind energy resources in assessing the main parameters that determine the economic viability (net present value, internal rate of return, and levelized cost of energy) of wind farms. This study was carried out along the Atlantic coast from

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Wolf Ciavarra, Andreas, Rafael Valotta Rodrigues, Katherine Dykes, and Pierre-Elouan Réthoré. "Wind farm optimization with multiple hub heights using gradient-based methods." Journal of Physics: Conference Series 2265, no. 2 (2022): 022012. http://dx.doi.org/10.1088/1742-6596/2265/2/022012.

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Abstract Optimization of the Levelized Cost of Energy (LCoE) in wind farms helps ensure profitability and competitiveness of the project. Recent work has explored driving down LCoE by allowing multiple wind turbines in a single wind farm - with different hub heights, rotor diameters, and rated powers. In this work, we performed optimization of the Lillgrund wind farm with continuously varying hub-heights to mitigate wake interference, improve annual energy production (AEP) and reduce LCoE. The optimization converged to a configuration where the turbines were vertically staggered, resulting in

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Pusch, Manuel, Mandar Phadnis, Michael Jeong, Chao Qin, Eric Loth, and Lucy Pao. "Impact of Blade Pitch Actuation System on Wind Turbine Cost and Energy Production." Journal of Physics: Conference Series 2767, no. 8 (2024): 082006. http://dx.doi.org/10.1088/1742-6596/2767/8/082006.

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Abstract To minimize the levelized cost of energy (LCOE) of wind turbines, advanced co-design strategies are required that also consider the contribution of active blade pitch control to overall energy production and wind turbine cost. Thereby, the demanded closed-loop performance drives the requirements on the blade pitch actuation system, which needs to be carefully balanced. To enable this, an extended LCOE measure is developed in this paper using stochastic estimates for quantifying pitch actuation cost in terms of pitch power and closed-loop performance in terms of net energy production.

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Hwang, Sung-Hyun, Mun-Kyeom Kim, and Ho-Sung Ryu. "Real Levelized Cost of Energy with Indirect Costs and Market Value of Variable Renewables: A Study of the Korean Power Market." Energies 12, no. 13 (2019): 2459. http://dx.doi.org/10.3390/en12132459.

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A levelized cost of energy (LCOE) is a methodology for comparing power generation costs in the transition to renewable energy (RE). However, the major limitation of evaluating RE based on the LCOE is that it does not consider indirect costs, such as the environmental and curtailment effect. This paper proposes the real LCOE (rLCOE) approach that accounts for indirect and direct generation costs. The mathematical approach to estimating indirect costs is derived from economic theory. The indirect effects, which quantify all benefits generated due to RE, is related to the variability of the share

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Yildiz, Nurullah, Hassan Hemida, and Charalampos Baniotopoulos. "Operation, Maintenance, and Decommissioning Cost in Life-Cycle Cost Analysis of Floating Wind Turbines." Energies 17, no. 6 (2024): 1332. http://dx.doi.org/10.3390/en17061332.

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Offshore wind farms are great options for addressing the world’s energy and climate change challenges, as well as meeting rising energy demand while taking environmental and economic impacts into account. Floating wind turbines, in specific, depict the next horizon in the sustainable renewable energy industry. In this study, a life-cycle cost analysis for floating offshore wind turbines is developed by combining the most recent data and parametric formulas from databases and relevant papers. The cost analysis models focused on cost minimization with special emphasis on Operation and Maintenanc

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Damiani, R., and D. Davis. "Engineering a Reduction of the Levelized Cost of Energy of Distributed Wind Turbines via Rotor and Control Enhancements." Journal of Physics: Conference Series 2265, no. 4 (2022): 042080. http://dx.doi.org/10.1088/1742-6596/2265/4/042080.

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Abstract Distributed wind turbines (DWTs), with rated capacity less than 100 kW, are penalized by high balance-of-system costs that lead to a high levelized cost of energy (LCOE). As a result, to contain the capital expenditure and thus LCOE, traditional designs have avoided active control systems that are standard in larger machines, e.g., active yaw and pitch control. In this paper, we present the key results of a trade-off study between larger rotor diameter, loads abatement, and simplicity in the pitch design for a typical mid-sized DWT with the overarching goal of increasing performance a

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Hernández Moris, Catalina, Maria Teresa Cerda Guevara, Alois Salmon, and Alvaro Lorca. "Comparison between Concentrated Solar Power and Gas-Based Generation in Terms of Economic and Flexibility-Related Aspects in Chile." Energies 14, no. 4 (2021): 1063. http://dx.doi.org/10.3390/en14041063.

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The energy sector in Chile demands a significant increase in renewable energy sources in the near future, and concentrated solar power (CSP) technologies are becoming increasingly competitive as compared to natural gas plants. Motivated by this, this paper presents a comparison between solar technologies such as hybrid plants and natural gas-based thermal technologies, as both technologies share several characteristics that are comparable and beneficial for the power grid. This comparison is made from an economic point of view using the Levelized Cost of Energy (LCOE) metric and in terms of th

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Kang, Dahyun, and Tae Yong Jung. "Renewable Energy Options for a Rural Village in North Korea." Sustainability 12, no. 6 (2020): 2452. http://dx.doi.org/10.3390/su12062452.

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The national electrification rate of North Korea is extremely low and the situation in rural areas is even worse. Thus, this study designs a virtual electrification project for a rural village in North Pyongan and compares an off-grid energy system and on-grid system in terms of net present cost (NPC) and levelized cost of energy (LCOE) to define the most cost-effective energy system. Using Hybrid Optimization of Multiple Energy Resources (HOMER), this study designs two off-grid systems that apply different types of batteries—lead–acid and lithium-ion energy storage systems (ESS)—and determine

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Brykalov, S. M., A. S. Balyberdin, D. A. Nyrkov, N. V. Sheshina, and E. A. Gushchina. "Selection of the priority option for a floating power unit based on the analysis of technical and economic indicators." Arctic: Ecology and Economy 12, no. 4 (2022): 551–58. http://dx.doi.org/10.25283/2223-4594-2022-4-551-558.

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Designs of floating power units equipped with innovative reactor installations market a new class of energy sources based on Russian nuclear shipbuilding technologies. Evaluation of various options for floating power units makes it possible to determine the most priority option based on an analysis of technical and economic indicators, including the Levelized Cost of Electricity (LCOE) index.

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