I have encountered challenges in calculating the cost of electricity generation using different conventional and clean energy technologies within the GCAM 5.2 model. I employed the LCOE (Levelized Cost of Electricity) formula, incorporating fuel costs, capital costs, and O&M (Operations and Maintenance) costs based on the methodology outlined in the Muratori et al. paper. However, I am facing discrepancies in the LCOE values generated by the model, and I am also particularly uncertain about how to properly estimate fuel costs. I would greatly appreciate any insights or guidance to address these issues.
Attached below is the screenshot of the equation used from the Muratori et al. paper.
Hello,
I have encountered challenges in calculating the cost of electricity generation using different conventional and clean energy technologies within the GCAM 5.2 model. I employed the LCOE (Levelized Cost of Electricity) formula, incorporating fuel costs, capital costs, and O&M (Operations and Maintenance) costs based on the methodology outlined in the Muratori et al. paper. However, I am facing discrepancies in the LCOE values generated by the model, and I am also particularly uncertain about how to properly estimate fuel costs. I would greatly appreciate any insights or guidance to address these issues.
Attached below is the screenshot of the equation used from the Muratori et al. paper.