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The cost of a electricity production depends on costs during the expected lifetime of the generator and the amount of electricity the generator is expected to produce over its lifetime. The levelized cost of electricity (LCOE) is the average cost in currency per energy unit, for example, EUR per kilowatt-hour or AUD per megawatt-hour. [3]
Electricity price forecasting (EPF) is a branch of energy forecasting which focuses on using mathematical, statistical and machine learning models to predict electricity prices in the future. Over the last 30 years electricity price forecasts have become a fundamental input to energy companies’ decision-making mechanisms at the corporate ...
A power purchase agreement (PPA), or electricity power agreement, is a long-term contract between an electricity generator and a customer, usually a utility, government or company. [ 1 ] [ 2 ] PPAs may last anywhere between 5 and 20 years, during which time the power purchaser buys energy at a pre-negotiated price.
A magnetohydrodynamic generator directly extracts electric power from moving hot gases through a magnetic field, without the use of rotating electromagnetic machinery. MHD generators were originally developed because the output of a plasma MHD generator is a flame, well able to heat the boilers of a steam power plant. The first practical design ...
The free-piston linear generator (FPLG) uses chemical energy from fuel to drive magnets through a stator and converts this linear motion into electric energy. Because of its versatility, low weight and high efficiency, it can be used in a wide range of applications, although it is of special interest to the mobility industry as range extenders for electric vehicles.
Dispatchable generation refers to sources of electricity that can be programmed on demand at the request of power grid operators, according to market needs. Dispatchable generators may adjust their power output according to an order. [ 1 ]
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