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Energy Systems and Technologies for the Coming Century ...

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Source: REN 21, Renewables 2010 GlobalStatus ReportAccording to REN 21 (2010), by early 2010, more than 80 countries had enactedsome type of policy target <strong>and</strong>/or promotion policy related to renewable energy, upfrom 55 countries in early 2005. Renewable energy is increasingly seen as a greenindustry that will continue to grow rapidly in <strong>the</strong> coming decades <strong>and</strong> can bring about<strong>the</strong> multiple benefits of climate change mitigation, local pollution reduction, reducingdependence on fossil fuel import, improving national energy security, as well asboosting economic growth <strong>and</strong> creating new jobs. In 2009, <strong>the</strong> total installed capacityof renewable energy (including only small hydro) reached 349 GW <strong>and</strong> electricitygenerated from renewable sources makes up 3% of <strong>the</strong> world electricity generation.renewable energy (excluding large hydro) contributes 3% of <strong>the</strong> global electricitygeneration,Despite continual cost decreases due to <strong>the</strong> fast growth in renewable energytechnology deployment <strong>and</strong> research <strong>and</strong> development, renewable energytechnologies except <strong>for</strong> large hydro, are still more expensive than fossil fuels.Levelized Cost of Electricity (LCOE) is <strong>the</strong> indicator <strong>for</strong> comparing <strong>the</strong> cost <strong>for</strong> eachkWh generation using different technologies over a power plant’s useful life.Table 7 is <strong>the</strong> IEA estimates of <strong>the</strong> Levelized Cost of Electricity (LCOE) costs of 6kinds of electricity generation technologies: nuclear, combined cycle gas turbine(CCGT), supercritical (SC) <strong>and</strong> ultra-supercritical (USC) coal power plants, coal with90% carbon capture (<strong>and</strong> storage) [C with 90% CC(S)], on-shore wind <strong>and</strong> solar PV.Competitiveness <strong>and</strong> job creation considerations in countries renewable energydevelopment plans. It can be seen that when <strong>the</strong> discount rate is 5%, it will cost moreto generate each kWh of power from wind <strong>and</strong> solar PV than <strong>the</strong> o<strong>the</strong>r four majorpower generation technologies. When <strong>the</strong> discount rate used is 10%, <strong>the</strong> gap is evenbigger (IEA, 2010).Table 7. Power technology costsMedian CaseSpecificationsNuclear CCGT SC/USCCoalCoalw/90%CC(S)WindOnshoreSolarPVCapacity (MW) 1400.0 480.0 750.0 474.4 45.0 1.0Construction cost 3681 1018 1916 3337 2237 5759($/kWe)O&M /($/MWh) 14.74 4.48 6.02 13.61 21.92 29.95Fuel Cost ($/MWh) 9.33 61.12 18.21 13.04 0.00 0.00Risø International <strong>Energy</strong> Conference 2011 Proceedings Page 99

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