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12000 10000 8000 6000 4000 2000 0 FIGURE ES.3: TYPICAL CAPITAL COST RANGES FOR RENEWABLE POWER GENERATION TECHNOLOGIES, 2012 Note: PT = parabolic trough, ST = solar tower, BFB/CFB = bubbling fluidised bed/circulating fluidised bed, AD = anaerobic digestion. Typical capacity factors6 vary by technology and region. For instance, capacity factors for wind in Latin America range from 22% to 52%, with similar wide variations in North America. The importance of obtaining real project data to analyse the LCOE range for a given technology in a region cannot therefore be underestimated, since assumptions made on typical values can lead to misleading conclusions. The rapid cost reductions in some renewable power generation technologies means that up-to-date data are required to evaluate support policies for renewables, while a dynamic analysis of the costs of renewables is needed to decide on the level of support. Comparable, verified data on the costs and performance of renewable energy technologies are often not in the public domain, but need to be made available. It is clear that there is insufficient publicly available data to allow policy makers to make robust decisions about the role 6 The ratio of the number of hours an electricity plant generates to the total number of hours in a year. of renewable power generation. IRENA’s cost analysis programme and this report are designed to help reduce this barrier to the accelerated deployment of renewables. Although the IRENA Renewable Cost Database contains close to 8 000 projects, this is a small proportion of the total number of projects installed or in development. Much more work therefore needs to be done to collect real project data in order to analyse emerging trends and the challenges facing renewables. The rapid growth in installed capacity of renewable energy technologies and the associated cost reductions mean that even data one or two years old can significantly overestimate the cost of electricity from renewable energy technologies. In the case of solar PV, even data six months old can significantly overstate costs. In addition, there is also a significant amount of perceived knowledge about the cost and performance of renewable power generation that is not accurate or is even misleading. Conventions on how to calculate costs can influence the outcome significantly and it is imperative that these are well‐documented. 8 Renewable Power Generation Costs in 2012: An Overview 2011 USD/kW Wind onshore China/India Wind onshore OECD Wind offshore Solar PV OECD Solar PV non-OECD CSP PT (no storage) OECD CSP PT (6 h storage) OECD CSP ST (6-15 h storage) OECD CSP PT (no storage) non-OECD Biomass-stoker Biomass-BFB/CFB Biomass-gasification Biomass-AD Biomass-co-firing Biomass-CHP Agriculture residues non-OECD Hydro-large Hydro-small Hydro-upgrade GeothermalPDF Image | International Renewable Energy Agency
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