What is the cost of generating electricity?

The cost of generating electricity includes the capital cost, the financing charges, and the production or operating costs (including fuel and maintenance of the technology) at the point of connection to an electrical load or the electricity grid.

How much does electricity cost per kilowatt hour?

On average, in 2011, nuclear power had the lowest electricity production costs at 2.10 cents per kilowatt hour, and petroleum had the highest at 21.56 cents per kilowatt hour.

What is the cost structure of electricity generation technologies?

Cost structure of generation technologies. Electricity generation technologies vary dramatically in their cost structure. Some plants, such as nuclear, wind and solar power, have virtually zero variable costs: once they are built, they produce electricity virtually for free. This is in stark contrast to fossil fuel-based power plants.

How much does it cost to build a power station in Germany?

Block 5 of Irsching Power Station in Southern Germany uses natural gas as fuel in a combined cycle, converting 1,750 megawatts of thermal energy to 847 net MW of usable electricity. It cost €450 million to build. This works out to some €531 per kW of capacity.

Where can I find information on the cost of a power plant?

Two valuable sources for gathering accurate information on the cost of power plant are the US Energy Information Administration (EIA) and Lazard, a leading financial advisory and asset management company. In April 2023 Lazard published its Levelized Cost of Energy Analysis - Version 16.

How much energy can you produce per MW?

In other words, you can use any thermal technology to produce as much as 8,760 MWh per MW of installed capacity, but you cannot do the same for hydro, wind and solar. In the case of hydroelectricity, the inflow to the reservoir determines the total amount of energy you can produce during the course of a year.