Levelized Cost of Electricity: PV and CPV in Comparison to Other Technologies

This paper presents the findings of the Fraunhofer ISE study on the levelized cost of electricity (LCOE) of renewable energy technologies with a focus on PV (Fraunhofer ISE, 2013). It predicts future cost and market developments through 2030 based on technology-specific learning curves and market scenarios. Photovoltaics (PV) are assessed in Germany. Moreover, the solar technologies PV and concentrating photovoltaics (CPV) are analyzed in regions with higher solar irradiation. They are compared to other renewable energy technologies such as (onshore and offshore) wind power, concentrating solar power (CSP) and biogas on the basis of common market financing costs. The current and future LCOE for new conventional power plants (brown coal, hard coal, combined cycle gas turbine (CCGT), oil-fired power plants) are calculated as a reference.