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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 ...
According to the U.S. Energy Information Administration (EIA), "Electricity prices generally reflect the cost to build, finance, maintain, and operate power plants and the electricity grid." Where pricing forecasting is the method by which a generator, a utility company, or a large industrial consumer can predict the wholesale prices of ...
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]
Electrical heating systems occur less commonly and are practical only with low-cost electricity or when ground source heat pumps are used. Considering the combined system of thermal power station and electric resistance heating, the overall efficiency will be less than for direct use of fossil fuel for space heating. [1]
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90–95% (multiply by the energy efficiency of electricity generation to compare with other water-heating systems) Electric heater: Electrical to thermal ~100% (essentially all energy is converted into heat, multiply by the energy efficiency of electricity generation to compare with other heating systems) Others: Firearm: Chemical to kinetic
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