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Lazard's Annual LCOE Report - Must Read

November 13, 2019

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Lazard's Annual LCOE Report - Must Read

November 13, 2019

“Lazard’s latest annual Levelized Cost of Energy Analysis (LCOE 13.0) shows that as the cost of renewable energy continues to decline, certain technologies (e.g., onshore wind and utility-scale solar), which became cost-competitive with conventional generation several years ago on a new-build basis, continue to maintain competitiveness with the marginal cost of existing conventional generation technologies.” Highlights from the report:The cost of generating energy from onshore wind and utility-scale solar projects fell by 3.5% and 7.0%, respectively, over the past year.While the reductions in costs continue, their rate of decline has slowed, especially for onshore wind. Costs for utility-scale solar have been falling more rapidly (about 13% per year) compared to onshore wind (about 7% per year) over the past five years.When U.S. government subsidies are included, the cost of building new onshore wind and utility-scale solar (with values averaging $28/MWh and $36/MWh, respectively) is competitive with the marginal cost of coal and nuclear generation (with values averaging $34/MWh and $29/MWh, respectively).Regional differences in resource availability and fuel costs can drive meaningful variance in the LCOE of certain technologies, although some of this variance can be mitigated by adjustments to a project’s capital structure, reflecting the availability, and cost, of debt and equity.Link

Observations
No items found.

Lazard's Annual LCOE Report - Must Read

November 13, 2019

“Lazard’s latest annual Levelized Cost of Energy Analysis (LCOE 13.0) shows that as the cost of renewable energy continues to decline, certain technologies (e.g., onshore wind and utility-scale solar), which became cost-competitive with conventional generation several years ago on a new-build basis, continue to maintain competitiveness with the marginal cost of existing conventional generation technologies.” Highlights from the report:The cost of generating energy from onshore wind and utility-scale solar projects fell by 3.5% and 7.0%, respectively, over the past year.While the reductions in costs continue, their rate of decline has slowed, especially for onshore wind. Costs for utility-scale solar have been falling more rapidly (about 13% per year) compared to onshore wind (about 7% per year) over the past five years.When U.S. government subsidies are included, the cost of building new onshore wind and utility-scale solar (with values averaging $28/MWh and $36/MWh, respectively) is competitive with the marginal cost of coal and nuclear generation (with values averaging $34/MWh and $29/MWh, respectively).Regional differences in resource availability and fuel costs can drive meaningful variance in the LCOE of certain technologies, although some of this variance can be mitigated by adjustments to a project’s capital structure, reflecting the availability, and cost, of debt and equity.Link

Observations
No items found.

Lazard's Annual LCOE Report - Must Read

November 13, 2019

“Lazard’s latest annual Levelized Cost of Energy Analysis (LCOE 13.0) shows that as the cost of renewable energy continues to decline, certain technologies (e.g., onshore wind and utility-scale solar), which became cost-competitive with conventional generation several years ago on a new-build basis, continue to maintain competitiveness with the marginal cost of existing conventional generation technologies.” Highlights from the report:The cost of generating energy from onshore wind and utility-scale solar projects fell by 3.5% and 7.0%, respectively, over the past year.While the reductions in costs continue, their rate of decline has slowed, especially for onshore wind. Costs for utility-scale solar have been falling more rapidly (about 13% per year) compared to onshore wind (about 7% per year) over the past five years.When U.S. government subsidies are included, the cost of building new onshore wind and utility-scale solar (with values averaging $28/MWh and $36/MWh, respectively) is competitive with the marginal cost of coal and nuclear generation (with values averaging $34/MWh and $29/MWh, respectively).Regional differences in resource availability and fuel costs can drive meaningful variance in the LCOE of certain technologies, although some of this variance can be mitigated by adjustments to a project’s capital structure, reflecting the availability, and cost, of debt and equity.Link

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Locations

New York
110 Greene Street, Suite 301
New York, NY 10012

D.C. / Northern VA
8100 Boone Boulevard, Suite 310
Vienna, VA 22182

Richmond
1419 W Main Street
Richmond, VA 23220

Southeast
190 19th Street N., Suite 2009
Birmingham, AL 35210

Midwest
693 1/2 High Street, Suite 106
Worthington, OH 43085

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