|Title:||A probabilistic approach to the computation of the levelized cost of electricity|
|Authors :||Geissmann, Thomas|
|Published in :||Energy|
|Publisher / Ed. Institution :||Elsevier|
|License (according to publishing contract) :||Licence according to publishing contract|
|Type of review:||Peer review (publication)|
|Subjects :||Invesstment analysis; Levelized cost of electricity; Monte Carlo simulation; Nuclear gas and power; Uncertainty|
|Subject (DDC) :||333.7: Land, recreational areas and energy|
|Abstract:||This paper sets forth a novel approach to calculate the levelized cost of electricity (LCOE) using a probabilistic model that accounts for endogenous input parameters. The approach is applied to the example of a nuclear and gas power project. Monte Carlo simulation results show that a correlation between input parameters has a significant effect on the model outcome. By controlling for endogeneity, a statistically significant difference in the mean LCOE estimate and a change in the order of input leverages is observed. Moreover, the paper discusses the role of discounting options and external costs in detail. In contrast to the gas power project, the economic viability of the nuclear project is considerably weaker.|
|Departement:||School of Management and Law|
|Publication type:||Article in scientific journal|
|Appears in Collections:||Publikationen School of Management and Law|
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