- Mar 3, 2006
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This analysis both short and long term cumulative cost for Europe.
Many say they Shouldn't have tried to go renewable, when in fact they didn't go renewable enough, and depended on Russian NG.
Domestic resource is the only security.
Operating gas-fired power plants would be 10 times more expensive in the long-term than building new solar capacity in Europe, according to research from intelligence company Rystad. Their study uses the levelized cost of energy (LCOE) for gas and coal-fired power generation at different price levels and compares it to the LCOE of solar PV and wind.
OCTOBER 27, 2022
Cumulative cost of gas power generation vs potential new renewable energy capacity.
Image: Rystad Energy
Building new solar capacity in Europe could be 10 times cheaper than continuing to operate gas-fired power plants in the long-term, according to a new study by Norway-based research company Rystad Energy.
Europe has seen skyrocketing gas prices since the drop in Russian gas exports, with spot prices on the Netherlands-based Title Transfer Facility (TTF) rising to an average €134 ($135.15)/MWh so far this year. Rystad forecasts prices will stabilize at around €31 per MWh by 2030, which puts the LCOE of existing gas-fired plants closer to €150 per MWh.
“This is still three times more than the LCOE of new solar PV facilities. For gas-fired plants to continue being competitive, gas prices would need to fall closer to €17 per MWh and carbon prices would need to fall to €10 per tonne, which is currently unthinkable,” the company said in a statement.
[......]
www.pv-magazine.com
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Many say they Shouldn't have tried to go renewable, when in fact they didn't go renewable enough, and depended on Russian NG.
Domestic resource is the only security.
New Solar Capacity 10 Times Cheaper than Gas, says Rystad
Operating gas-fired power plants would be 10 times more expensive in the long-term than building new solar capacity in Europe, according to research from intelligence company Rystad. Their study uses the levelized cost of energy (LCOE) for gas and coal-fired power generation at different price levels and compares it to the LCOE of solar PV and wind.
OCTOBER 27, 2022
Cumulative cost of gas power generation vs potential new renewable energy capacity.
Image: Rystad Energy
Building new solar capacity in Europe could be 10 times cheaper than continuing to operate gas-fired power plants in the long-term, according to a new study by Norway-based research company Rystad Energy.
Europe has seen skyrocketing gas prices since the drop in Russian gas exports, with spot prices on the Netherlands-based Title Transfer Facility (TTF) rising to an average €134 ($135.15)/MWh so far this year. Rystad forecasts prices will stabilize at around €31 per MWh by 2030, which puts the LCOE of existing gas-fired plants closer to €150 per MWh.
“This is still three times more than the LCOE of new solar PV facilities. For gas-fired plants to continue being competitive, gas prices would need to fall closer to €17 per MWh and carbon prices would need to fall to €10 per tonne, which is currently unthinkable,” the company said in a statement.
[......]
New solar capacity 10 times cheaper than gas, says Rystad
Operating gas-fired power plants would be 10 times more expensive in the long-term than building new solar capacity in Europe, according to research from intelligence company Rystad. Their study uses the levelized cost of energy (LCOE) for gas and coal-fired power generation at different price...
www.pv-magazine.com
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