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Please use this identifier to cite or link to this item: http://hdl.handle.net/1974/6879

Title: A Review of Solar Photovoltaic Levelized Cost of Electricity
Authors: Branker, K.
Pathak, M. J.M.
Pearce, J. M.

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LCOE paper_Tables.pdfTables 78.13 kBAdobe PDFView/Open
LCOE of PV pre-print.pdfMain text309.42 kBAdobe PDFView/Open
Keywords: photovoltaic
solar energy
solar photovoltaic
levelized cost of electricity
LCOE
electricity generation
solar photovoltaic
PV
Grid parity
solar economics
Issue Date: 2011
Publisher: Elsevier
Citation: K. Branker, M. J.M. Pathak, J. M. Pearce, “A Review of Solar Photovoltaic Levelized Cost of Electricity”, Renewable & Sustainable Energy Reviews 15, pp.4470-4482 (2011). http://dx.doi.org/10.1016/j.rser.2011.07.104
Abstract: As the solar photovoltaic (PV) matures, the economic feasibility of PV projects are increasingly being evaluated using the levelized cost of electricity (LCOE) generation in order to be compared to other electricity generation technologies. Unfortunately, there is lack of clarity of reporting assumptions, justifications and degree of completeness in LCOE calculations, which produces widely varying and contradictory results. This paper reviews the methodology of properly calculating the LCOE for solar PV, correcting the misconceptions made in the assumptions found throughout the literature. Then a template is provided for better reporting of LCOE results for PV needed to influence policy mandates or make invest decisions. A numerical example is provided with variable ranges to test sensitivity, allowing for conclusions to be drawn on the most important variables. Grid parity is considered when the LCOE of solar PV is comparable with grid electrical prices of conventional technologies and is the industry target for cost-effectiveness. Given the state of the art in the technology and favorable financing terms it is clear that PV has already obtained grid parity in specific locations and as installed costs continue to decline, grid electricity prices continue to escalate, and industry experience increases, PV will become an increasingly economically advantageous source of electricity over expanding geographical regions.
Description: Additional information and worksheets can be found on the project page here: http://www.appropedia.org/Review_of_Solar_Levelized_Cost
URI: http://hdl.handle.net/1974/6879
Appears in Collections:Joshua M. Pearce

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