A comprehensive review of variable renewable energy levelized cost of electricity

Shen, Wei; Chen, Xi; Qiu, Jing; Hayward, Jennifer A.; Sayeef, S.; Osman, Péter; Meng, Ke; Zhang, Dong

doi:10.1016/j.rser.2020.110301

Cited by 184 publications

(69 citation statements)

References 47 publications

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“…The emerging role of AI for RE utilization may help it achieve some targets (22%) within the economy group because (a) the AI, machine learning, and smart communication can be used to succeed this harmonization effort to have unique standards and requirements concerning RE integration around the world 66,67 (target 17.14 and 17.6); (b) improvement and optimization (using AI) will enhance the RE efficiency and production 68,69 (target 12.11); (c) optimization of the west to energy (WtE) technologies for treating of various waste fractions in a medium-term future energy system considering their complex properties and optimizing both investments and production. Optimization of routes, which include waste components (i.e., food and yard wastes, non-biodegradable components, rubber, plastic, textile, leather, and wood) are the optimized WtE routes for maximum power generation potential by biochemical and thermochemical treatments of solid waste 70,71 (targets 12.4, 12.5); and (d) the AI, machine learning, optimization, and smart communications have positive impact to increase RE productivity, reduce the cost, and introduce innovation toward smart grid [72][73][74] (target 8.1). Furthermore, fewer targets within the Economy group (6 targets, 10%) can be impacted negatively by RE.…”

Section: Re Utilization and Economic Outcomesmentioning

confidence: 99%

Impact of Renewable Energy Utilization and Artificial Intelligence in Achieving Sustainable Development Goals

Hannan

Al-Shetwi

Begum

et al. 2021

Preprint

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Many countries around the world are planning to reach 100% renewable energy (RE) use by 2050. In this context and due to the recent sharp increase in RE utilization in the global energy mix along with its progressive impact on the world energy sector, the evaluation and investigation of its effect on achieving sustainable development goals (SDGs) are not covered sufficiently. Here, we present an assessment of the emerging role of RE utilization and artificial intelligence (AI) toward achieving SDGs. A total of 17 SDGs were divided into three groups, namely, environment, society, and economy, as per the three key pillars of sustainable development. The RE has a positive impact toward achieving 75 targets across all SDGs by using an expert elicitation method-based consensus. However, it may negatively affect the accomplishment of the 27 targets. In addition, the AI can help the RE to enable the attainment of 42 out of 169 targets. With the current exponential growth of RE share and AI development together with addressing certain present limitations, this impact may cover additional targets in the future. Nevertheless, the present research foci neglect significant facets. The exponential growth of RE share and rapid evolution of AI need to be accompanied through the requisite regulatory insight and technology regulation to cover additional targets in the future.

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Section: Re Utilization and Economic Outcomesmentioning

confidence: 99%

Impact of Renewable Energy Utilization and Artificial Intelligence in Achieving Sustainable Development Goals

Hannan

Al-Shetwi

Begum

et al. 2021

Preprint

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“…Another approach to fairly compare CSP plants with other renewable and conventional power plants is to consider different indicators, such as the levelized avoided cost of electricity (LACE). The LACE represents the potential cost of providing electricity to the grid through a new power plant project, and it is calculated as the weighted average cost of the marginal cost of electricity dispatch [25]. In order to make the right calculations, LACE takes into account different territorial indicators, such as daily and seasonal variation in demand, the existing grid mix generation, the heat produced, the fuel cost and the ability to dispatch on-demand power [26].…”

Section: Economic Considerations Of Grid-connected Csp Towers and The Business Opportunity For Thermal Energy Storagementioning

confidence: 99%

Overview of the Enablers and Barriers for a Wider Deployment of CSP Tower Technology in Europe

Aprà¹,

Sterling²,

Loureiro³

2021

Clean Technol.

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For years, concentrated solar power (CSP) has been considered an emerging technology that could disrupt the energy production sector . The possibility to store the electricity generated during the sunny operating hours in the form of heat enhances energy dispatchability and gives CSP a unique value proposition that conventional renewable energies cannot provide cost-efficiently since it requires the integration of costly large-scale battery systems. CSP is a cleaner technology compared to photovoltaics, but photovoltaics currently has lower overall capital costs, making it more attractive to investors and stakeholders who want to spend less money upfront, . This is one of the main reasons why CSP has never really led either the electricity market or the heating one, even if its combined generation capability (heat and electricity) is globally recognized as a great advantage for a renewable technology. In this study, we analyze the reasons why CSP is not as widespread as it could be; at the same time, we look at the opportunities and the enablers for a further deployment of this technology, focusing on the European region.

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“…As a low-carbon technology, wind power plays an important role in addressing climate change (Shen et al, 2020). The installed capacity of wind power has increased significantly in recent years.…”

Section: Effects Of Wind Generation Pricing On Australia's Electricity Marketsmentioning

confidence: 99%

Impact of the Nature of Energy Management and Responses to Policies Regarding Solar and Wind Pricing: A Qualitative Study of the Australian Electricity Markets

Alsaedi

Tularam

Wong

2021

IJEEP

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The present study employed various qualitative techniques to investigate the nature and influence of policies and regulations concerning solar and wind pricing on the Australian electricity spot and options markets. The analysis was based on data gathered through interviews conducted with energy managers, chief executive officers and other significant personnel from the Australian electricity industry. The interviewees' responses regarding the solar and wind policies of relevance to the Australian electricity markets were examined, and the thick and in-depth content data derived from the interviews were used to examine how their views and personal politics influenced pricing within the electricity markets. The results suggest that renewable energy policies lower the electricity prices, reduce the risks for investors and also result in larger deployment mechanisms.

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A comprehensive review of variable renewable energy levelized cost of electricity

Cited by 184 publications

References 47 publications

Impact of Renewable Energy Utilization and Artificial Intelligence in Achieving Sustainable Development Goals

Impact of Renewable Energy Utilization and Artificial Intelligence in Achieving Sustainable Development Goals

Overview of the Enablers and Barriers for a Wider Deployment of CSP Tower Technology in Europe

Impact of the Nature of Energy Management and Responses to Policies Regarding Solar and Wind Pricing: A Qualitative Study of the Australian Electricity Markets

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