Group 3 Problems- Technical Support and Sales S. (10pts) What is the levelized c
ID: 2074056 • Letter: G
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Group 3 Problems- Technical Support and Sales S. (10pts) What is the levelized cost of energy and how is it used for comparing different systems? Rank the following systems and provide an estimate of the levelized cost of energy S/kW-h Nuclear, Conventional Coal fired electric plant, Wind farm, solar farm, 6. (10pts) In ME course documents the article on Power in India Fig. 5.7 shows a 50% decline in Solar SMW/h ($100 in Mid 2014) to ($50 in 2017) What are the reasons for this and what are the supportive policies India has adopted? (Expanding this to Mexico/Chile/UAE could be a good subject for your report.)Explanation / Answer
5. The levelized cost of electricity (LCOE) is mathematically sum of all the costs incurred by a energy in its lifetime divided by the sum of energy produced by the source in the lifetime. Its unit is $/KWh. LCOE is a way of measuring power source on a consistent basis. LCOE can also be thought as a break-even cost over the lifetime of the project.
Estimated LCOE of Following energy sources are:
nuclear- around $130/MWh
conventional coal fired- around $100/MWh
wind farm- around $50/MWh
solar farm- around $50/MWh
So they can be ranked (from lowest to highest LCOE): Wind, Solar, Coal, Nuclear
6. 50% decline in solar LCOE can be addressed to continuously low cost of setting up a new solar farm due to a continuous decrease in solar cells rate and also the availability of cheap means of financing for setting up a solar farm.
The Indian government has also been supportive if this. Giving subsidies for almost all types of solar plants and also providing cheap means of financing are its examples.
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