Abstract
So far we have covered a general overview of electricity networks and some of the responsibilities of the Power Makers. In this chapter we take a look at costs, specifically generating and transmission costs. We introduce the term levelized cost of electricity (LCOE) and discuss the need to get the generator mix right to minimize cost. We then discuss energy efficiency and conservation and their role in reducing the demand for electricity and how they can help a country to meet its energy reduction targets.
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Notes
- 1.
The LCOE is usually associated with a specific generating technology. For more details on calculating LCOE see Appendix H—Electricity Costs and Markets and H.1—Levelized Cost of Electricity (LCOE).
- 2.
For those that like to skip ahead, we discuss how price affects the mix of generators in greater depth in Chap. 20.
References
US DOE/EIA (2011) 2016 Levelized cost of new generation resources in the annual energy outlook 2011. http://eia.doe.gov/oiaf/aeo/electricity_generation.html. Accessed 10 July 2011
AEMO (2009) Network extensions to remote areas part 2—Innamincka case study. http://aemo.com.au/planning/0400-0005.pdf. Accessed 10 July 2011
EU (2008) Energy efficiency: delivering the 20% target. http://ec.europa.eu/energy/strategies/2008/doc/2008_11_ser2/energy_efficiency_communication_en.pdf. Accessed 10 July 2011
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© 2012 Springer-Verlag London
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Nicholson, M. (2012). Dollars and Cents. In: The Power Makers' Challenge. Green Energy and Technology. Springer, London. https://doi.org/10.1007/978-1-4471-2813-7_5
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DOI: https://doi.org/10.1007/978-1-4471-2813-7_5
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