Global LCOEs of decentralized off-grid renewable energy systems
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Date
2023-09
Publication Type
Review Article
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yes
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Abstract
Recent global events emphasize the importance of a reliable energy supply. One way to increase energy supply security is through decentralized off-grid renewable energy systems, for which a growing number of case studies are researched. This review gives a global overview of the levelized cost of electricity (LCOE) for these autonomous energy systems, which range from 0.03 $2021/kWh to over 1.00 $2021/kWh worldwide. The average LCOEs for 100% renewable energy systems have decreased by 9% annually between 2016 and 2021 from 0.54 $2021/kWh to 0.29 $2021/kWh, most likely due to cost reductions in renewable energy and storage technologies. This review identifies and discusses seven key reasons why LCOEs are frequently overestimated or underestimated in research, and how this can be prevented in the future. This overview can be employed to verify findings on off-grid systems, to assess where these systems might be deployed and how costs evolve.
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published
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Journal / series
Volume
183
Pages / Article No.
113478
Publisher
Elsevier
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Edition / version
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Software
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Subject
Energy autonomy; Self-sufficiency; Energy autarky; Stand-alone systems; Island systems; HRES; 100% renewable energy systems; Hybrid energy systems; Techno-economic analysis
Organisational unit
09752 - McKenna, Russell / McKenna, Russell