Levelized Cost of Electricity

Renewable energy systems have the potential to be one of the most important breakthroughs in recent human history. While technically feasible, many systems are simply not economically viable. Toward assessing this, many models have been proposed; one such approach is the LCOE algorithm and Levelized Cost of Electricity allows users to compute this parameter.

Key Features:

• Support for basic model input parameters


• Compute LCOE with ease


• Ability to include loans in analysis


• User-friendly interface

Technical Specifications:

• Dimensions of the turbine


• Rotor diameter


• Cost of capital


• Estimations of wind speed

Considerations:

While all these elements ensure new users are able to generate results fast, computed LCOE values should be treated with caution. While some analysis parameters are given (for example the installed power of the turbine), average wind speeds are by no means a certainty. These limitations, intrinsic to the model involved, should be taken into consideration when interpreting the results, more-so if employing the tool for anything other than personal use.

To sum up, Levelized Cost of Electricity is a good tool for anyone interested in installing household wind turbines. The limited amount of advanced features renders it too simple and risky for business ventures. It can, however, be employed to highlight the various effects brought about by changes in the input parameters.