dc.contributor.author | Abadie, L. M. | |
dc.contributor.author | Chamorro, J. M. | |
dc.date.accessioned | 2023-02-14T09:22:00Z | |
dc.date.available | 2023-02-14T09:22:00Z | |
dc.date.issued | 2019-11-15 | |
dc.identifier.citation | Dyna: 94 (6): 656 (2019) | es_ES |
dc.identifier.uri | http://hdl.handle.net/10810/59802 | |
dc.description.abstract | The aim of this paper is to propose an improvement over traditional approaches to the levelized cost of electricity (LCOE). Basically there are two methods available. The first one considers a yearly timeframe, so it yields a yearly estimate of the LCOE. The second one, instead, keeps the whole lifetime of the facility when computing its LCOE; it thus results in a life-cycle estimate. This said, they share some features, for example, their reliance on the net-present-value methodology and the scant use of market prices. Unfortunately, they also stumble on some common issues, such as the proper way to account for risk.
The focus here falls on two power generating technologies from renewable sources, namely wind and solar. Section 1 gives a quick overview of their widespread deployment across the world. Section 2 provides a thorough review of the two approaches to the LCOE at a theoretical level. It also includes some remarks about their underlying assumptions and pinpoints some of their limitations. Section 3 shows numerical estimates of LCOE for different technologies and countries following the two approaches. It also looks at recent trends of LCOE estimates over time. Then Section 4 presents a proposal for an improved LCOE, one that uses public information available on the markets and deals with the discounting of risk more properly. There is also a numerical application to a standard wind park. Section 5 concludes. | es_ES |
dc.description.sponsorship | This research was supported by the Basque Government through the BERC 2018-2021 program and by the Spanish Ministry of Science, Innovation and Universities (MICINN) through BC3’s María de Maeztu excellence accreditation MDM-2017-0714. Luis Mª Abadie and José M. Chamorro are grateful for the financial support received from the Spanish Ministry of Economy and Competitiveness (MINECO RTI2018-093352-B-I00) | es_ES |
dc.language.iso | spa | es_ES |
dc.publisher | Dyna | es_ES |
dc.rights | info:eu-repo/semantics/embargoedAccess | es_ES |
dc.rights.uri | http://creativecommons.org/licenses/by-nc-sa/3.0/es/ | * |
dc.subject | Electricity generation | es_ES |
dc.subject | renewable energies | es_ES |
dc.subject | solar farms | es_ES |
dc.subject | wind farms | es_ES |
dc.subject | investment valuation | es_ES |
dc.subject | futures markets | es_ES |
dc.title | LEVELIZED COST OF ELECTRICITY: KEY DRIVERS AND VALUATION METHODS | es_ES |
dc.type | info:eu-repo/semantics/article | es_ES |
dc.rights.holder | © Engineering Journal Dyna 2006 - DYNA Publishing | es_ES |
dc.rights.holder | Atribución-NoComercial-CompartirIgual 3.0 España | * |
dc.relation.publisherversion | https://dx.doi.org/10.6036/9223 | es_ES |
dc.identifier.doi | 10.6036/9223 | |
dc.contributor.funder | Basque Government, Spanish Ministry of Science, Innovation and Universities (MICINN) and Spanish Ministry of Economy and Competitiveness (MINECO) | |