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The levelized cost of electricity (LCOE) is a metric that attempts to compare the costs of different methods of electricity generation consistently. Though LCOE is often presented as the minimum constant price at which electricity must be sold to break even over the lifetime of the project, such a cost analysis requires assumptions about the value of various non-financial costs (environmental ...
Geothermal power is highly scalable: a small power station can supply a rural village, though initial capital costs can be high. [54] The most developed geothermal field is the Geysers in California. In 2008, this field supported 15 stations, all owned by Calpine, with a total generating capacity of 725 MW. [55]
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]
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The initial cost for the field and power plant is around $2500 per installed kW in the U.S., probably $3000 to $5000/kWe for a small (<1Mwe) power plant. Operating and maintenance costs range from $0.01 to $0.03 per kWh.
The cost of generating geothermal power decreased by 25% during the 1980s and 1990s. [1] Technological advances continued to reduce costs and thereby expand the amount of viable resources. In 2021, the US Department of Energy estimated that power from a plant "built today" costs about $0.05/kWh.
MHD generators have not been used for large-scale mass energy conversion because other techniques with comparable efficiency have a lower lifecycle investment cost. Advances in natural gas turbines achieved similar thermal efficiencies at lower costs, by having the turbine exhaust drive a Rankine cycle steam plant.
The typical efficiency of TEGs is around 5–8%, although it can be higher. Older devices used bimetallic junctions and were bulky. More recent devices use highly doped semiconductors made from bismuth telluride (Bi 2 Te 3), lead telluride (PbTe), [10] calcium manganese oxide (Ca 2 Mn 3 O 8), [11] [12] or combinations thereof, [13] depending on application temperature.
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