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An improved method to estimate combined heat and power production technologies by levelized cost of a life-cycle

Dubovskoy S.V., Dr. Sci. (Engin.), Senior Research Scientist, Tverdohlib A.S.
Institute of General Energy of the National Academy of Sciences of Ukraine, 172 Antonovycha St., Kyiv, 03680, Ukraine
Language: Russian
Source: The Problems of General Energy, 2014, 1(36):46-54
Section: Study and optimization of the technological objects and systems of the energy sector
UDC: 620.31
Received: 19.11.2013
Published: 19.03.2014

Abstract:

The levelized cost of electricity for a life cycle (LCOE) method is useful for comparing different types of advanced power generation technologies at different stages of development. It is applied by many reputable organizations including the International Energy Agency (IEA) to determine appropriate lines of energy technologies development. Difficulties with application of the method emerge at estimation of the electricity and heat combined production. They are caused by the current methodological uncertainty of correlation of the actual cost for obtaining heat and electricity and lead to an illegitimate use of market prices for these types of products.
The article deals with improvement of LCOE method using the thermodynamic method of sharing heat and electricity generation costs at combined production, previously justified by the authors. The introduced improvements allow separate estimation of the levelized cost of heat and electricity production for a life cycle based upon the laws of energy conservation and transformation with no market prices used. The methodical calculations are exemplified by comparative estimations of the levelized cost of electricity and heat for a life cycle for main CHP technologies. They are carried out using conventional starting literature data.

Keywords: levelized cost of electricity for a life cycle, LCOE, CHP, thermodynamic method of cost sharing.

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