Solar PV: Generally low LCOE due to declining capital costs and minimal O&M costs.
Wind Power: Also has a relatively low LCOE, especially in areas with high wind speeds and stable wind patterns.
Hydropower: Can have a low LCOE but is highly site-specific and can have high upfront capital costs.
Nuclear Power: Typically higher LCOE due to high capital and O&M costs, though low fuel costs.
Fossil Fuels (Coal, Natural Gas): Variable LCOE depending on fuel prices and carbon costs, often higher than renewables when carbon costs are considered.
Comparison: LCOE allows for a straightforward comparison of the cost of electricity generation from different sources.
Investment Decisions: Helps investors and policymakers understand the economic viability of different energy projects.
Policy Making: Assists in designing subsidies, tariffs, and other financial incentives to promote cost-effective energy sources.
Overall, LCOE is a critical metric for assessing the economic performance and competitiveness of different energy generation technologies.
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