System LCOE: What are the Costs of Variable Renewables?

@inproceedings{Ueckerdt2013SystemLW,
  title={System LCOE: What are the Costs of Variable Renewables?},
  author={Falko Ueckerdt and Lion Hirth and Gunnar Luderer and Ottmar Edenhofer},
  year={2013}
}
LCOE (levelized costs of electricity) are a common metric for comparing power generating technologies. However, there is criticism particularly towards evaluating variable renewables like wind and solar PV (photovoltaics) power based on LCOE because it ignores variability and integration costs. We propose a new metric System LCOE that accounts for integration and generation costs. For this purpose we develop a new mathematical definition of integration costs that directly relates to economic… CONTINUE READING

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