Economics of Renewable Energy: A Comparison of Electricity Production Costs Across Technologies

2021 ◽  
Author(s):  
Govinda R. Timilsina ◽  
Kalim U. Shah
Keyword(s):  
Renewable Energy ◽  
Research And Development ◽  
Electricity Generation ◽  
Fossil Fuels ◽  
Heat Rate ◽  
Production Costs ◽  
Electricity Production ◽  
Capital Costs ◽  
Renewable Energy Technologies ◽  
Energy Technologies

The levelized costs of electricity generation for renewable energy technologies differ and fluctuate depending on factors including capital costs, operation and maintenance costs, utilization factors, and economic lives. In addition to these factors, In the case of fossil fuels, prices and heat rate are also responsible for fluctuations. There is a global movement in favor renewable energy. Many countries have announced carbon-free electricity within the next 30–40 years, which implies massive expansion of renewable energy technologies. The newer investment trends in electricity generation technologies indicate the same. Technological breakthroughs and cost reductions of energy storage technologies would further favor renewable energy technologies and would decrease their intermittency hurdles. Developments that expand the scaling effect of renewable energy and the potential improvement in efficiency through continued research and development could bring the cost of renewable energy further down in the future. When the levelized costs of electricity generation are estimated, the declining trends of renewable energy costs are observed and can to a large extent (but not fully) be explained by certain potential drivers. Particularly for wind and solar, these drivers include technological innovation/improvements that have increased efficiency, policy supports such as research and development funding, economy of scale both on the manufacturing of equipment (solar panels, wind turbines) and installation of plants, and monopoly rent dissipation due to increased number of manufacturers and suppliers. Competition among equipment manufacturers and project developers may also contribute to cost decline as could cost reduction through improved product efficiency related to technological improvements and innovations.

scholarly journals The Economics of Renewable Energy Sources into Electricity Generation in Tanzania

2016 ◽  
Vol 2016 ◽  
pp. 1-8 ◽  
Author(s):  
Baraka Kichonge ◽  
Iddi S. N. Mkilaha ◽  
Geoffrey R. John ◽  
Sameer Hameer
Keyword(s):  
Renewable Energy ◽  
Energy Supply ◽  
Electricity Generation ◽  
Power Plants ◽  
Renewable Energy Sources ◽  
Primary Energy ◽  
Energy Sources ◽  
Renewable Energy Technologies ◽  
Energy Technologies ◽  
Primary Energy Supply

The study analyzes the economics of renewable energy sources into electricity generation in Tanzania. Business as usual (BAU) scenario and renewable energy (RE) scenario which enforce a mandatory penetration of renewable energy sources shares into electricity generations were analyzed. The results show total investment cost for the BAU scenario is much lower as compared to RE scenario while operating and maintenance variable costs are higher in BAU scenario. Primary energy supply in BAU scenario is higher tied with less investment costs as compared to RE scenario. Furthermore, the share of renewable energy sources in BAU scenario is insignificant as compared to RE scenario due to mandatory penetration policy imposed. Analysis concludes that there are much higher investments costs in RE scenario accompanied with less operating and variable costs and lower primary energy supply. Sensitivity analysis carried out suggests that regardless of changes in investments cost of coal and CCGT power plants, the penetration of renewable energy technologies was still insignificant. Notwithstanding the weaknesses of renewable energy technologies in terms of the associated higher investments costs, an interesting result is that it is possible to meet future electricity demand based on domestic resources including renewables.

Creating and testing a survey to assess the impact of renewable energy technologies on quality of life

2013 ◽  
Vol 56 (04) ◽  
pp. 103-111 ◽  
Author(s):  
Tanya Christidis ◽  
Claire Paller ◽  
Shannon Majowicz ◽  
Phil Bigelow ◽  
Ashley Wilson ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Data Collection ◽  
Wind Turbines ◽  
Fossil Fuels ◽  
Target Population ◽  
Distribution Method ◽  
Renewable Energy Technologies ◽  
Energy Technologies ◽  
Local Case ◽  
The Impact

With the increasing concerns regarding fossil fuels and nuclear energy, greater attention is being placed on alternate renewable energy technologies (RETs) such as wind, solar, and bioenergy. However, implementation of modern RETs has become controversial, as adverse health effects are a major concern. Although local case studies have suggested a relationship between wind turbines and health, there is a gap in the scientific knowledge. Epidemiological studies with adequate data collection tools and analyses are needed, particularly in the Canadian context. We reviewed surveys used in relevant environmental health literature, created a data collection tool for use in populations exposed to wind turbines, and piloted the survey content and distribution method. Our pilot response rate was 25.5% (45/200). The mean age of survey respondents was 57.6 years (SD: 12.76) with 57% of the respondents being female; respondents were not significantly different than the target population with respect to age or sex. The survey and methods presented here can be used in future studies to assess the health impacts of renewable energy technologies.

scholarly journals Institutional and Policy Assessment of Renewable Energy Sector in Afghanistan

2017 ◽  
Vol 2017 ◽  
pp. 1-10 ◽  
Author(s):  
Ahmad Murtaza Ershad
Keyword(s):  
Renewable Energy ◽  
Fossil Fuels ◽  
Indoor Air Pollution ◽  
Scale Up ◽  
Energy Sector ◽  
Vital Role ◽  
Renewable Energy Resources ◽  
Renewable Energy Technologies ◽  
Energy Technologies ◽  
International Investors

Renewable energy resources could play a vital role in the sustainable economic, social, and environmental development of Afghanistan. Heavy reliance of rural households on firewood, rising costs of fossil fuels, outdoor and indoor air pollution, and climate change are some of the challenges that can be addressed by diversifying our power production fuel inputs and adopting renewable energy technologies. In order to deploy and scale up renewable energy technologies and improve access to sustainable energy, clear policies and targets and dedicated institutions are crucial. Fortunately, Afghan government with the support of international community is setting ambitious targets for the renewable energy sector and is encouraging national and international investors to take part in the generation, transmission, and distribution of renewable energy especially electricity through Power Purchase Agreements or very cheap land leases. Thus, the objectives of this report are (I) to review the existing institutions in the field of renewable energy, (II) to review renewable energy policies and targets in Afghanistan, and (III) to identify institutional and policy gaps and recommend solutions.

100% Renewables as a Focus for Environmental Education

2012 ◽  
Vol 28 (2) ◽  
pp. 125-155 ◽  
Author(s):  
William Adlong
Keyword(s):  
Renewable Energy ◽  
Policy Making ◽  
Fossil Fuels ◽  
Rapid Development ◽  
Solar Photovoltaics ◽  
Renewable Energy Technologies ◽  
Energy Technologies ◽  
Environmental Educators ◽  
Informal Settings ◽  
Do So

AbstractThe rapid development of renewable energy technologies has a number of implications for environmental educators and educators more generally. The costs of a number of renewable energy technologies are expected to be competitive with fossil fuels within 10–15 years and some installations are competitive already. From 2006–2011 global installations increased an average of 26% per annum for wind power and 58% per annum for solar photovoltaics (REN21, 2012). Investment in renewables (excluding hydropower) has increased by 20–30% per annum, reaching $US260 billion (AUD 245 billion) in 2011. The credibility of proposals for economies based largely on renewables is gaining recognition. These developments suggest that a satisfactory response to the dire projections around climate change can be implemented. To do so, understanding of the potential and status of renewables needs to be more widespread and accelerated on formal, informal and policy-making levels. Environmental educators within formal and informal settings can promote understanding and action so that the potential of such renewable energies is realised.

scholarly journals Measures to Promote Renewable Energy for Electricity Generation in Algeria

2020 ◽  
Vol 12 (4) ◽  
pp. 1468
Author(s):  
Mohammed Bouznit ◽  
María del P. Pablo-Romero ◽  
Antonio Sánchez-Braza
Keyword(s):  
Renewable Energy ◽  
Electricity Generation ◽  
Fossil Fuels ◽  
Standard Procedure ◽  
Production Capacity ◽  
Electricity Production ◽  
Energy Potential ◽  
Energy Projects ◽  
Legislative Framework ◽  
The Government

Algeria has enormous renewable energy potential. However, fossil fuels remain the main electricity generation source, and the country is the third largest CO2 emitter in Africa. Algeria is also particularly vulnerable to climate change. Therefore, a set of actions related to energy, forests, industry and waste sectors have been programmed, over the period 2015–2030, and the government action program has given priority to promote renewable energy. In this sense, Algeria is committed to significantly promote investment in renewable energy, during the period 2020–2030. Thus by 2030, renewable electricity production capacity will achieve 22,000 MW, representing 27% of total electricity generation. This paper analyzes the electricity generation measures implemented in Algeria to reach the required energy mix, the legislative framework, financial aid, the feed-in tariff system, the tax incentives, and the tender and auctions undertaken. The analyses reveal that, although the electricity price premium policy has not been revoked, the newly enacted tender scheme is designed to become the standard procedure for launching renewable energy projects in Algeria in the coming years.

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