LCOE

Analysts at Bloomberg New Energy Finance say the lowest-cost projects financed in Australia, China, Chile and the UAE in the last six months hit a levelized cost of energy of just $23-29/MWh and the best solar and wind projects will produce electricity for less than $20/MWh by 2030.

The PV industry’s rapid factory expansions and quick product rollouts lead to a constant balancing act between the streamlining of production and the introduction of new features to push the boundaries of power generation and achieve lower LCOE. Given these competing factors, CEA has brought together its data based on experience in providing third-party quality assurance oversight to produce its Supplier Benchmarking Program. Joseph Johnson, CEA’s lead analyst for solar and storage, digs into the data.

Chinese manufacturer Risen Energy will supply Malaysia’s Tokai Engineering with 20 MW of its new panels, unveiled in December. Risen claims its products can help reduce balance-of-system project costs by 9.6% and the levelized cost of energy by 6%.

Researchers in Pakistan have evaluated the impact of shading on inverter set-ups to assess PV system performance. Tests were conducted on a 51 kW system featuring SMA inverter topologies but the researchers say the findings could be applied to products from other manufacturers. The results showed the number of maximum power point trackers is important but levelized cost of energy calculations are also crucial to selecting the right inverter configuration.

Battery innovations started to come thick and fast this quarter as the hunt for alternatives to lithium-ion intensified and the latest slew of solar tenders indicated the relentless pressure on solar power generation costs was showing no sign of abating.

A group of scientists is proposing a new metric – the value of efficiency – to calculate the maximum allowable cost to increase a cell’s efficiency and improve the levelized cost of electricity (LCOE). The researchers expect that more regional diversification may be seen at the global level in the years to come, with the proposed metric offering higher values in North America, Central and Northern Europe, Japan, Australia, and New Zealand.

A new paper published by the U.S. National Renewable Energy Laboratory delves into the potential of hybrid power plants combining wind and solar generation. Development of such plants, according to the lab, is driven by the need to increase profitability and consider metrics beyond levelized cost of electricity, taking into account time varying revenues and better managing these renewables inherent variability.

The latest study published by the International Renewable Energy Agency says the average solar electricity cost of $0.085/kWh produced by projects commissioned last year is set to fall to $0.048 next year, and $0.02-0.08 by 2030.

The latest figures released by BloombergNEF show new solar and onshore wind power plants have reached parity with average wholesale prices in California, China and parts of Europe. The technologies are winning the race to be the cheapest sources of new generation for two-thirds of the world’s population.

In the run up to our Greenwashing vs. verifiable sustainability webinar, the CEO of pv magazine’s UP initiative partner SMA Solar Technology, Jürgen Reinert, talks about what the inverter manufacturer is doing to prove its sustainability credentials.