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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 ...
Electricity generation is the process of generating electric power from sources of primary energy. For utilities in the electric power industry , it is the stage prior to its delivery ( transmission , distribution , etc.) to end users or its storage , using for example, the pumped-storage method.
Additionally, measures to mitigate climate change such as a carbon tax or carbon emissions trading, favor the economics of nuclear power over fossil fuel power. Nuclear power is cost competitive with the renewable generation when the capital cost is between $2000 and $3000/kW. [3]
The duck curve is a graph of power production over the course of a day that shows the timing imbalance between peak demand and solar power generation. The graph resembles a sitting duck, and thus the term was created. [2] Used in utility-scale electricity generation, the term was coined in 2012 by the California Independent System Operator. [3] [4]
The electric power industry covers the generation, transmission, distribution and sale of electric power to the general public and industry. The commercial distribution of electric power started in 1882 when electricity was produced for electric lighting. In the 1880s and 1890s, growing economic and safety concerns lead to the regulation of the ...
Natural resource economics and the availability of economically viable resources required for generator operation is variable per generation technology. For variable renewable energy generators, wind resource assessment and solar potential assessment are examples of methods used to assess the availability of resources required for wind turbines ...
A load duration curve (LDC) is used in electric power generation to illustrate the relationship between generating capacity requirements and capacity utilization. A LDC is similar to a load curve but the demand data is ordered in descending order of magnitude, rather than chronologically. The LDC curve shows the capacity utilization ...
"Economic dispatch" (low market price) is the most common. [4] Curtailment is a loss of potentially useful energy, and may impact power purchase agreements. [5] [6] However, utilizing all available energy may require costly methods such as building new power lines or storage, becoming more expensive than letting surplus power go unused. [7] [8 ...