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1、Photo from iStock-627281636Cost of Wind Energy Review:2024 EditionTyler Stehly,Patrick Duffy,and Daniel Mulas HernandoNational Renewable Energy Laboratory November 2024NREL|2New Report Naming ConventionThis years report uses a new naming convention2024 Editionto align with the Wind Energy Technologi

2、es Offices naming convention for the wind energy market reports(https:/www.energy.gov/eere/wind/wind-market-reports-2024-edition).The data and results in this analysis are derived from the prior years 2023 commissioned plants,representative industry data,and state-of-the-art modeling capabilities us

3、ed to inform Fiscal Year 2024 values in the report.NREL|3AcknowledgmentsThe authors would like to thank Patrick Gilman(U.S.Department of Energy Office of Energy Efficiency and Renewable Energy Wind Energy Technologies Office WETO)for supporting this research.Thanks also to Gage Reber(contractor to W

4、ETO)of Boston Government Services and Daniel Beals(contractor to WETO)of Lindahl Reed Inc.for reviewing prior versions of this presentation.Thank you to Ryan Wiser and Dev Millstein(Lawrence Berkeley National Laboratory)and Lindsay Sheridan(Pacific Northwest National Laboratory)for their analysis of

5、 wind project market data that informed this analysis.Thanks also to Amy Brice(National Renewable Energy Laboratory)for editing the presentation.Any remaining errors or omissions are the sole responsibility of the authors.NREL|4List of Acronyms and Abbreviations AEP annual energy productionAPC Appli

6、cable Project ComponentsATB Annual Technology BaselineBOS balance of systemCapEx capital expendituresCOD commercial operations dateCRF capital recovery factorDOE U.S.Department of EnergyFCR fixed charge rateFY fiscal year GPRA Government Performance and Results ActHH hub heightIEC International Elec

7、trotechnical CommissionkW kilowattLandBOSSE Land-based Balance of System Systems EngineeringLCOE levelized cost of energy m meterm/s meters per secondMACRS Modified Accelerated Cost Recovery SystemMW megawattMWh megawatt-hourNPV net present valueNREL National Renewable Energy LaboratoryO&M operation

8、s and maintenanceOpEx operational expendituresORBIT Offshore Renewables Balance of System and Installation Tool ORCA Offshore Wind Regional Cost AnalyzerRD rotor diameterUSD U.S.dollarsW wattWACC weighted average cost of capitalWETO Wind Energy Technologies OfficeWISDEM Wind Plant Integrated Systems

9、 Design and Engineering ModelWOMBAT Windfarm Operations&Maintenance cost-Benefit Analysis Tool yr year Executive Summary NREL|6Executive SummaryThe 13th annual Cost of Wind Energy Review uses representative utility-scale and distributed wind energy projects to estimate the levelized cost of energy(L

10、COE)for land-based and offshore wind power plants in the United States.Data and results are derived from 2023 commissioned plants,representative industry data,and state-of-the-art modeling capabilities.The goals of this analysis are to provide insight into current component-level costs and give a ba

11、sis for understanding the impacts of market variability on wind energy LCOE in the United States.Recent U.S.offshore wind industry strike prices exceed the LCOE estimates in this publication.Slide 43,titled“2023 Offshore Wind Reference Plant LCOE Estimates,”outlines several factors contributing to t

12、hese disparities.The primary elements of this 2023 analysis include:Estimated LCOE for(1)a representative land-based wind energy project installed in a moderate wind resource in the United States,(2)a representative fixed-bottom offshore wind energy project installed in the U.S.North Atlantic,and(3)

13、a representative floating offshore wind energy project installed off the U.S.Pacific coastUpdated LCOE estimates for representative residential-scale,commercial-scale,and large-scale distributed wind projects installed in a moderate wind resource in the United StatesSensitivity analyses showing the

14、range of effects that basic LCOE variables could have on the cost of wind energy for land-based and offshore wind projectsUpdated Fiscal Year 2024 values for land-based and offshore wind energy used for Government Performance and Results Act(GPRA)reporting and illustrated progress toward established

15、 GPRA targets.NREL|7Key Inputs and Levelized Cost of Energy ResultsNote:Additional information on the sources of data are presented in the Appendix.Unless specifically stated,all cost data presented in this document are reported in 2023 U.S.dollars(USD).kW=kilowatt;MW=megawatt;MWh=megawatt-hourLand-

16、BasedOffshoreDistributedParameterUnitsUtility Scale Utility Scale(Fixed Bottom)Utility Scale(Floating)Single Turbine(Residential)Single Turbine(Commercial)Single Turbine(Large)Wind turbine rating MW3.3121220(kW)100(kW)1.5Capital expenditures(CapEx)$/kW1,9685,4117,3498,6656,8003,362Fixed charge rate(

17、FCR)(real)%6.56.766.766.686.686.68Operational expenditures(OpEx)$/kW/yr43135108414141Net annual energy productionMWh/MW/yr4,1044,2953,3462,5802,8463,326Levelized cost of energy(LCOE)$/MWh4211718124017480NREL|8Levelized Cost Breakdown for Reference Land-Based Wind PlantNote:The“Contingency”cost categ

18、ory also includes insurance,permitting,bonding,and markup estimates.The“Operational Expenditure”category includes maintenance cost.Eng.=Engineering.NREL|9Levelized Cost Breakdown for Reference Fixed-Bottom Offshore Wind PlantNote:The“Array System”cost includes costs associated with the procurement o

19、f the inter-array system cables of an offshore wind farm.Install.=Installation.NREL|10Levelized Cost Breakdown for Reference Floating Offshore Wind PlantNote:The“Array System”cost includes costs associated with the procurement of the inter-array system cables of an offshore wind farm.Install.=Instal

20、lation.NREL|11Levelized Cost Breakdown for Reference Distributed Wind ProjectsBOS=balance of system NREL|12Key Conclusions The reference project LCOE for land-based installations is$42/MWh,with a range of land-based estimates from the single-variable sensitivity analysis covering$30$61/MWh(see Slide

21、 33).The fixed-bottom offshore wind estimate is$117/MWh,and the floating substructure reference project estimate is$181/MWh.These two reference projects give a single-variable sensitivity range of$76$234/MWh(see Slides 46 and 47).This range is primarily caused by the large variation in CapEx($3,000$

22、9,187/kW)and project design life.The residential and commercial reference distributed wind system LCOE are estimated at$240/MWh and$174/MWh,respectively.Single-variable sensitivity analysis for the representative systems is presented in the 2019 Cost of Wind Energy Review(Stehly,Beiter,and Duffy 202

23、0).Analysts included the LCOE estimate for a large distributed wind energy project in this years analysis,estimated at$80/MWh.1234567NREL|13ContentsBackground U.S.Department of Energy Goals and Reporting RequirementsLand-Based Wind Energy Offshore Wind Energy Distributed Wind EnergyReferencesAppendi

24、x1.BackgroundNREL|15BackgroundThe Cost of Wind Energy Review:2024 Edition estimates the levelized cost of energy(LCOE)for land-based,offshore,and distributed wind energy projects in the United States.LCOE is a metric used to assess the cost of electricity generation and the total power-plant-level i

25、mpact from technology design changes.It can be used to compare costs of all types of generation.The specific LCOE method applied in this analysis is described in A Manual for the Economic Evaluation of Energy Efficiency and Renewable Energy Technologies(Short,Packey,and Holt 1995):=+1,000LCOE=leveli

26、zed cost of energy(dollars per megawatt-hour$/MWh)FCR=fixed charge rate(%)CapEx=capital expenditures(dollars per kilowatt$/kW)AEPnet=net average annual energy production(megawatt-hours per megawatt per year MWh/MW/yr)OpEx=operational expenditures($/kW/yr)NREL|16BackgroundThis review also provides an

27、 update to the 2022 Cost of Wind Energy Review(Stehly,Duffy,and Mulas Hernando 2023)and examines wind turbine costs,financing,and market conditions.The analysis includes:Estimated LCOE for a representative land-based wind energy project installed in a moderate wind resource(i.e.,International Electr

28、otechnical Commission IEC wind class IIb IEC 2020)in the United StatesEstimated LCOE for representative offshore(fixed-bottom and floating)wind energy projects using National Renewable Energy Laboratory(NREL)models and databases of globally installed projects;the authors assessed representative site

29、s on the U.S.North Atlantic coast(fixed bottom)and Pacific coast(floating)using current lease and call information,nominations data from the Bureau of Ocean Energy Management,and various geospatial datasetsLCOE estimates for representative residential,commercial,and large distributed wind energy pro

30、jects in the United StatesSensitivity analyses showing the range of effects that basic LCOE variables could have on the cost of wind energy for land-based and offshore wind power plantsUpdates to the national supply curves for land-based and offshore wind energy based on geographically specific wind

31、 resource conditions paired with approximate wind turbine size characteristicsProjected land-based and offshore wind cost trajectories from 2022 through 2035 used for U.S.Department of Energy(DOE)annual wind power LCOE reporting as required by the Government Performance and Results Act(GPRA).2.U.S.D

32、epartment of Energy Goals and Reporting Requirements NREL|18DOE Goals and Reporting RequirementsEvery year,the Wind Energy Technologies Office(WETO)reports the LCOE for land-based wind and fixed-bottom offshore wind to satisfy GPRA reporting requirements.This report provides the underlying market an

33、d cost data for WETO to fulfill the annual GPRA reporting requirements.Updates to the LCOE targets are periodically implemented to keep performance measures current with developments in the market,incorporate improved cost and performance estimating tools,and reset the dollar year to minimize inflat

34、ionary pressures on LCOE.In Fiscal Year(FY)2023,new GPRA LCOE baseline values,cost reduction trajectories,and end-point targets were established for land-based wind and fixed-bottom offshore wind.NREL|19GPRA Re-Baseline Efforts Then and NowLand-Based WindFixed-Bottom Offshore WindEffortPrior GPRA Ba

35、seline(Former)Re-Baseline(Current)Prior GPRA Baseline(Former)Re-Baseline(Current)Commercial Operation Date 2015202220182022TechnologyMarket average turbine parametersATB Wind Turbine Technology 3(3.3 MW,148 m rotor diameter RD,100 m hub height HH)(atb.nrel.gov)Market average turbine parametersATB Co

36、nservative Scenario(12 MW,214 m RD,136 m HH)(atb.nrel.gov)CostMarket capacity-weighted average(2015 USD)ATB Conservative Scenario(atb.nrel.gov)Bottom-up cost modeling+BVG Assoc.innovations reductions(Beiter et al.2016;Valpy et al.2017)CapEx estimated using technology learning similar to ATB(atb.nrel

37、.gov);OpEx and AEP trajectories informed by Wiser et al.(2021)FinanceFinance model and market dataATB finance assumptions in R&D case(atb.nrel.gov)Fixed charge rate method with financing assumptions based on European conditions in 2018Fixed charge rate method with financing assumptions based on Nort

38、h American conditions in 2022Resource7.25 m/s 50 m above the ground7.25 m/s 50 m above the ground8.43 m/s 50 m above the surface8.43 m/s 50 m above the surfaceCapacity Factor40%(16.7%total losses)46.8%(18.9%total losses)48.6%(16.2%total losses)48.7%(16.0%total losses)The new baseline plant character

39、istics are a refinement of the previous values and were established using updated bottom-up engineering cost and performance tools,expert wind industry feedback,and analysis from the Annual Technology Baseline(ATB).The new GPRA end-point targets are based on cost reduction trajectories for land-base

40、d and fixed-bottom offshore wind projects that span FY 2023 to FY 2035,whereas the previous re-baseline analyses had a target year in FY 2030.The need for future re-baseline efforts will be assessed periodically,and re-baselining will be implemented as needed.The table summarizes the methods and ass

41、umptions of prior GPRA targets and the updated methods and assumptions for FY 2023 GPRA targets.NREL|20GPRA Cost Reduction Pathway From 2023 to 2035 for Land-Based Wind The FY 2023 baseline assumes a representative wind turbine of 3.3 MW,148 m(RD),100 m(HH),and the FY 2035 target assumes a turbine o

42、f 6 MW,170 m(RD),115 m(HH).The land-based wind GPRA baseline value starts at$39/MWh(in 2022 USD)set in FY 2023,using the 2022 reference project data.The land-based wind GPRA target is$27/MWh by FY 2035(in 2022 USD)and is derived from the analysis conducted in the 2023 Annual Technology Baseline:atb.

43、nrel.gov.NREL|21GPRA Cost Reduction Pathway From 2023 to 2035 for Fixed-Bottom Offshore Wind The GPRA baseline value starts at$95/MWh(in 2022 USD)set in FY 2023 using 2022 reference project data.The GPRA target is$61/MWh by FY 2035(commercial operations date COD 2034)(in 2022 USD)and is derived for

44、a fixed-bottom wind plant at the reference site based on cost reductions informed by industry learning(Shields et al.2022)and expert elicitation(Wiser et al.2021).Note that values are rounded to the nearest dollar.NREL|22Modeled Cost Reduction Pathway From 2023 to 2035 for Floating Offshore Wind Ene

45、rgy DOE has no official GPRA reporting requirement for floating offshore wind energy costs.Projected floating offshore wind cost reductions are mapped to$74/MWh in FY 2035 using similar methodology as fixed-bottom offshore wind.DOE established a Floating Offshore Wind Shot goal of$45/MWh(2020 USD)by

46、 2035 for a different reference site using a different set of assumptions.Note that values are rounded to the nearest dollar.NREL|23Baseline and GPRA Cost Reduction Pathway From 2023 to 2035 for Land-Based Wind Energy Fiscal year estimates informed by projects with COD the prior year(FY=COD+1).The F

47、Y 2023 baseline assumes a representative wind turbine of 3.3 MW,148 m(RD),100 m(HH),and the FY 2035 target assumes a turbine of 6 MW,170 m(RD),115 m(HH).For GPRA reporting,the FY 2024$42/MWh LCOE was deflated from 2023 USD to 2022 USD using the Consumer Price Index from the Bureau of Labor and Stati

48、stics(undated).For comparison,the FY 2030 GPRA set in 2015 inflated from 2015 USD to 2022 USD using the Consumer Price Index from the Bureau of Labor and Statistics(undated).The FY 2023 and FY 2035 LCOE estimates are informed by the analysis conducted in the 2023 Annual Technology Baseline:atb.nrel.

49、gov.NREL|24GPRA Cost Reduction Pathway From 2023 to 2035 for Fixed-Bottom Offshore Wind Energy The FY 2023(COD 2022)LCOE is$95/MWh with an FY 2035(COD 2034)GPRA target of$61/MWh.The FY 2035 target is informed by industry learning(Shields et al.2022)and expert elicitation(Wiser et al.2021).For GPRA r

50、eporting,the FY 2024$117/MWh LCOE estimate was deflated from 2023 USD to 2022 USD using the Consumer Price Index from the Bureau of Labor and Statistics(undated).For comparison,the FY 2030 GPRA set in 2019 and inflated from 2018 USD to 2022 USD using the Consumer Price Index from the Bureau of Labor

51、 and Statistics(undated).3.Land-Based Wind EnergyNREL|26Land-Based Wind Turbine Average Nameplate Capacity,Hub Height,Rotor Diameter,and Assumed Representative Wind Plant Average turbine nameplate capacity,hub height,and rotor diameter for land-based wind projects.Graphic is based on new installatio

52、ns each year.Source:Wiser and Millstein(2024)Assumed wind turbine characteristics for project operating in 2023.atb.nrel.govParameterValueWind turbine rating 3.3 MWRotor diameter148 mHub height100 mWind plant capacity200 MWNumber of turbines61Power curve data available on https:/ Land-Based Wind Sit

53、e Characteristics and PerformanceParameterValueAnnual average wind speed at 50 m above surface level 7.25 m/sAnnual average wind speed at hub height8.01 m/sWeibull k 2.0(factor)Shear exponent 0.14Gross energy capture5,055 MWh/MW/yrGross capacity factor57.7%Total losses18.8%Net energy capture4,14 MWh

54、/MW/yrNet capacity factor46.9%Wind resource of the United States,annual average wind speed at 100 m above surface level.Map by Billy J.Roberts,NREL;more information at https:/windexchange.energy.gov/maps-data/324NREL|28Land-Based Wind Project Component Cost BreakdownTurbine component cost estimates

55、are derived from recent updates to NRELs Wind Plant Integrated Systems Design and Engineering Model(WISDEM)https:/ component cost estimates are obtained from the Land-based Balance of System Systems Engineering(LandBOSSE)model(Eberle et al.2019).Construction financing assumptions are from the 2024 A

56、nnual Technology Baseline atb.nrel.gov.ParameterValue(2023$/kW)Wind Turbine CapEx1,091Rotor337Nacelle477Tower276BOS CapEx582Engineering and development36Project management 14Foundation 120Site access,staging,and facilities 47Assembly and installation 100Electrical infrastructure72Wind turbine transp

57、ort194Soft Cost295Construction finance111Contingency*54Wind turbine warranty 130Total CapEx 1,968*Contingency category also includes insurance,permitting,bonding,and markup estimates NREL|29Land-Based Wind Plant Operational Expenditures Estimate and Historical DataParameterValueEstimated OpEx$43/kW-

58、yr All-in project OpEx estimates informed by updated analysis conducted in the 2024 Annual Technology Baseline(atb.nrel.gov).Average O&M costs for available data years from 2000 to 2023,by commercial operation date.Source:Wiser and Millstein(2024)Note:O&M data reported in the chart do not include al

59、l operating costs.NREL|30Land-Based Wind Project Financial Assumptions ParameterNominal Value Real Value Weighted average cost of capital6.25%3.66%Capital recovery factor 8.01%6.17%Fixed charge rate(FCR)8.43%6.5%The economic evaluation of wind energy investments in this analysis uses the FCR method

60、from NRELs Annual Technology Baseline and Standard Scenarios web page:atb.nrel.gov.The FCR represents the amount of annual revenue required to pay the carrying charge as applied to the CapEx on that investment during the expected project economic life and is based on the capital recovery factor(CRF)

61、but also reflects corporate income taxes and depreciation.The analysis assumes the reference project operates for 25 years,a 5-year Modified Accelerated Cost Recovery System(MACRS)depreciation schedule,and an inflation rate of 2.5%.Additional financial assumption details are displayed in the Appendi

62、x.NREL|31LCOE for Representative Land-Based Wind Plant and Historical Data ParameterValueWind turbine rating 3.3 MWCapital expenditures$1,968/kWFixed charge rate(real)6.5%Operational expenditures$43/kW/yrNet annual energy production 4,104 MWh/MW/yrCalculated levelized cost of energy$42/MWhModeled co

63、st and performance data using the methods presented in the 2024 Annual Technology Baseline(atb.nrel.gov)to calculate LCOE.Estimated levelized cost of wind energy for actual wind projects by commercial operation date.Source:Wiser and Millstein(2024)NREL|32LCOE Breakdown for Reference Land-Based Wind

64、PlantNote:The“Contingency”cost category also includes insurance,permitting,bonding,and markup estimates.“Operational Expenditure”includes maintenance cost.Eng.=EngineeringNREL|33Range of LCOE Parameters for Land-Based WindNote:The reference LCOE reflects a representative industry LCOE.Changes in LCO

65、E for a single variable can be understood by moving to the left or right along a specific variable.Values on the x-axis indicate how the LCOE will change as a given variable is altered and all others are assumed constant(i.e.,remain reflective of the reference project).4.Offshore Wind EnergyNREL|352

66、023 Market Average Offshore Wind Turbine and Representative Wind Plant Global capacity-weighted average turbine rating,hub height,and rotor diameter for offshore wind projects in 2023.Source:Offshore Wind Market Report:2024 Edition(McCoy et al.2024)ParameterValueWind turbine rating 12.0 MWRotor diam

67、eter216 mHub height137 mSpecific power 327 W/m2Wind plant capacity600 MWNumber of turbines50Representative turbine parameters and power curves available on GitHub Global capacity-weighted average turbine rating in 2023 was 9.7 MW as the global market has begun adopting machines in the range of 1215

68、MW(McCoy et al.2024).The first commercial-scale offshore wind projects installed in the United States selected 11-MW(South Fork Wind and Revolution Wind)and 13-MW(Vineyard Wind I)turbines.NREL|36Offshore Wind Reference Wind Sites and Wind Plant Performance The fixed-bottom offshore wind reference pr

69、oject represents near-term development in the U.S.Northeast.The floating offshore wind reference site represents the first leases in California.Wind resource of the United States,annual average wind speed at 100 m above surface level.Map by Billy J.Roberts,NREL;more information at https:/windexchang

70、e.energy.gov/maps-data/324ParameterFixed-BottomFloatingUnitsWater depth34739mExport cable length5036kmAnnual average wind speed at 50 m8.437.67m/sAnnual average wind speed at hub height9.058.24m/sWeibull k 2.12.1factorShear exponent 0.10.1#Gross energy capture5,0814,205MWh/MW/yrGross capacity factor

71、58.048.0%Total losses15.520.7%Net energy capture4,2953,346MWh/MW/yrNet capacity factor49.038.2%NREL|37Fixed-Bottom Offshore Wind System CapEx Component Cost BreakdownBOS and soft cost estimates are obtained with the Offshore Renewables Balance of System and Installation Tool(ORBIT)(Nunemaker et al.2

72、020).Refer to https:/ rounded to the nearest dollar,and“Install.”indicates installation.ParameterValue(2023$/kW)Turbine1,770BOS2,629Array system251Export system227Offshore substation243Scour protection25Substructure764Project development123Installation830Lease price167Soft Costs1,012Construction ins

73、urance55Decommissioning145Construction financing240Procurement contingency228Commissioning55Install.contingency289Total CapEx5,411NREL|38 The U.S.Department of the Treasury(2024)issued guidance listing the Applicable Project Components(APC)for an offshore wind facility.The table on the next slide es

74、timates the percent cost contribution of each APC for a representative offshore wind project.It also provides a more detailed list of major components under each APC and estimates the percent cost contribution of each major component in the representative offshore wind project.These relative costs a

75、re based on empirical data,NRELs Wind Plant Integrated Systems Design and Engineering Model(WISDEM)(https:/ the Offshore Renewables Balance of System and Installation Tool(ORBIT)(https:/ Value of Manufactured Components for an Offshore Wind ProjectNREL|39Relative Value of Manufactured Components for

76、 an Offshore Wind Project1 The list of offshore wind APCs is provided in U.S.Department of the Treasury(2024).2 The relative cost contributions and list of major components were developed by NREL.3 Monopiles and transition pieces comprise several tubular steel sections that are welded together,integ

77、rated,and then finished.Transition pieces are further outfitted with personnel access systems prior to installation.Some transition pieces may be integrated with a monopile in a single facility.4 A personnel access system includes internal platforms,external platforms,and boat landings.5 The electri

78、cal system includes transformers,switchgear,shunt reactors(high-voltage alternating current substations only),and converters(high-voltage direct current substations only).Applicable Project Component(APC)1Percent Cost Contribution From Each APC(%)2Major APC Components2Percent Cost Contribution From

79、Each Major Component(%)2Turbine51.4%Nacelle28.5%Blades13.1%Hub4.8%Power converter2.4%Production2.6%Monopile16.0%Tubular monopile sections314.1%Production1.9%Transition piece11.9%Tubular transition piece section34.3%Personnel access system47.1%Production0.5%Export cable7.9%Armor1.3%Insulated conducto

80、r4.4%Sheathing1.3%Production0.9%Array cable2.6%Armor0.4%Insulated conductor1.5%Sheathing0.4%Production0.3%Offshore substation9.4%Electrical system53.3%Topside5.6%Production0.5%Wind tower flange0.8%Preform0.6%Production0.2%NREL|40Floating Offshore Wind System Component Cost BreakdownBOS and soft cost

81、 estimates are obtained with ORBIT(Nunemaker et al.2020).Refer to https:/ rounded to the nearest dollar,and“Install.”indicates installation.ParameterValue(2023$/kW)Turbine1,770BOS4,254Array system301Export system171Offshore substation243Substructure1,541Mooring system651Installation1,058Project deve

82、lopment123Lease price167Soft Costs1,325Construction insurance74Decommissioning184Construction financing319Procurement contingency307Install.contingency 368Commissioning74Total CapEx7,349NREL|41Fixed-Bottom and Floating Offshore Wind OpEx Estimates Fixed-bottom and floating offshore wind plant OpEx e

83、stimates are calculated with NRELs Windfarm Operations&Maintenance cost-Benefit Analysis Tool(WOMBAT)(Hammond and Cooperman 2022).WOMBAT is a scenario-based tool*that uses a discrete event simulation framework to calculate the costs associated with component failures,scheduled maintenance tasks,and

84、mobilization of equipment to carry out repairs.OpEx modeling assumptions:30 full-time technicians assumed per project in both sites Three crew transfer vessels,one cable lay vessel,and one diving support vessel per project Fixed-bottom site employs an in situ repair strategy Floating case executes r

85、eplacements through a tow-to-port strategy,which is assumed to be less expensive than in situ repairs Failure rates and costs associated with repairs and replacements informed by COREWIND(2021).*Access the WOMBAT model on GitHub.ParameterFixed Value($/kW-yr)Floating Value($/kW-yr)Maintenance11369Lab

86、or(technicians)55Materials24Equipment(vessels)10561Operations2238Management administration22Port fees117Insurance1919Total OpEx135108Values rounded to the nearest dollar.NREL|42Fixed-Bottom and Floating Offshore Wind Project Financial Assumptions ParameterNominal Value Real Value Weighted average co

87、st of capital6.61%4.01%Capital recovery factor 8.28%6.41%Fixed charge rate8.74%6.76%The data used to calculate the weighted average cost of capital(WACC)are collected by NREL based on conversations with project developers and industry financiers and provides a basis for WACC assumptions for the repr

88、esentative wind project in 2022.The WACC,CRF,and FCR are given in nominal and real terms using the after-tax WACC discount rate of 6.61%and 4.01%,respectively,a project design lifetime of 25 years,and a net present value depreciation factor of 84.0%(assuming a 5-year MACRS depreciation schedule).Det

89、ailed financial assumptions are displayed in the Appendix.Note:The WACC for land-based wind is higher than for offshore wind because it considers the influences of the production tax credit and assumes a lower debt fraction.NREL|432023 Offshore Wind Reference Plant LCOE Estimates The LCOE values for

90、 the 2023 representative fixed-bottom and floating offshore wind plants are estimated at$117/MWh and$181/MWh,respectively.*LCOE is calculated with the formulation presented in NRELs Annual Technology Baseline and presented on Slide 15.ParameterFixed-Bottom 12.0-MW Offshore Wind TurbineFloating 12.0-

91、MW Offshore Wind TurbineUnitsCapital expenditures5,4417,349$/kWFixed charge rate(real)6.766.76%Operational expenditures135108$/kW/yrNet annual energy production4,2953,346MWh/MW/yrTotal LCOE117181$/MWh*The LCOE estimates given above rely on bottom-up cost modeling and assume mature supply chains for

92、600-MW projects with a 2023 COD.In 2023,several U.S.projects were under construction,but none of them were fully commissioned in that year(McCoy et al.2024).Readers should be cautious when comparing the above LCOE estimates with recent U.S.strike prices for the following reasons:LCOE and strike pric

93、e are not the same thing.Developer profits and differences in the underlying technology,infrastructure,project structure,cost,performance,subsidy,and financing terms must be accounted when comparing LCOE and strike prices(Smart 2016;Beiter et al.2021).Projects with different procurement timelines ha

94、ve varying levels of exposure to risks and inflationary pressures(DOE 2024).Expected CODs for recent solicitations range from 2026 to the early 2030s while the representative projects modeled in this report have an assumed COD in 2023.NREL|44Levelized Cost Breakdown for Reference Fixed-Bottom Offsho

95、re Wind PlantNote:The“Array System”cost includes costs associated with the procurement of the inter-array system cables of an offshore wind farm.NREL|45Levelized Cost Breakdown for Reference Floating Offshore Wind PlantNote:The“Array System”cost includes costs associated with the procurement of the

96、inter-array system cables of an offshore wind farm.NREL|46Range of LCOE Parameters for Fixed-Bottom Offshore Wind PlatformNote:The reference LCOE reflects a representative industry LCOE.Changes in LCOE for a single variable can be understood by moving to the left or right along a specific variable.V

97、alues on the x-axis indicate how the LCOE will change as a given variable is altered and all others are assumed constant(i.e.,remain reflective of the reference project).NREL|47Range of LCOE Parameters for Floating Offshore Wind PlatformNote:The reference LCOE reflects a representative industry LCOE

98、.Changes in LCOE for a single variable can be understood by moving to the left or right along a specific variable.Values on the x-axis indicate how the LCOE will change as a given variable is altered and all others are assumed constant(i.e.,remain reflective of the reference project).5.Distributed W

99、ind EnergyNREL|49Distributed Wind Turbine Characteristics for Residential,Commercial,and Large-Scale ProjectsParameterWind Turbine ClassUnitsResidentialCommercialLargeWind turbine rating201001,500kWRotor diameter12.427.677mHub height304080mSpecific power 166167322W/m2Number of wind turbines 111-Wind

100、 turbine classes are aligned with the Distributed Wind Energy Futures Study(McCabe et al.2022).NREL|50Distributed Wind Site Characteristics and PerformanceParameterWind Turbine ClassUnitsResidentialCommercialLargeAnnual average wind speed at 50 m above surface level 666m/sAnnual average wind speed a

101、t hub height5.585.816.42m/sWeibull k 222factorShear exponent 0.140.140.14#Gross energy capture2,9163,2173,759MWh/MW/yrGross capacity factor33.336.742.9%Losses6.866.866.86%Availability 959595%Total losses11.511.511.5%Net energy capture2,5802,8463,326MWh/MW/yrNet capacity factor29.532.538%Residential

102、and commercial wind turbines assume stall-regulated power curves;the large wind turbine assumes pitch-regulated power curve.Power curve data available on https:/ Wind Project Component Cost Breakdown and Estimated Operational ExpendituresParameterWind Turbine ClassUnitsResidentialCommercialLargeWind

103、 turbine CapEx3,9324,0012,459$/kWBOS CapEx4,7332,799903$/kWTotal CapEx8,6656,8003,362$/kWOpEx414141$/kW/yr BOS component cost estimates are obtained from the LandBOSSE model(Eberle et al.2019).Because CapEx data are scarce for distributed wind projects,further cost details on the individual system c

104、omponents are not presented.OpEx market data are not widely available for distributed wind projects;therefore,$41/kW/yr is assumed for each wind class and is aligned with the 2024 ATB atb.nrel.gov.NREL|52Distributed Wind Project Financial Assumptions Parameter NominalRealWeighted average cost of cap

105、ital(%)6.53.9Capital recovery factor(%)8.26.33Fixed charge rate(%)8.646.68 The economic evaluation of wind energy investments in this analysis uses the FCR method used in NRELs Annual Technology Baseline and Standard Scenarios web page:atb.nrel.gov.The FCR represents the amount of annual revenue req

106、uired to pay the carrying charge as applied to the CapEx on that investment during the expected project economic life and is based on the CRF but also reflects corporate income taxes and depreciation.The analysis assumes the reference projects operate for 25 years and a 5-year MACRS depreciation sch

107、edule;for simplicity,financial assumptions are assumed to be the same for each wind class and are aligned with the assumptions in the 2024 Annual Technology Baseline atb.nrel.gov.Additional financial assumption details are displayed in the Appendix.NREL|53LCOE Breakdown for Reference Distributed Win

108、d Projects6.References NREL|55ReferencesBeiter,P.,W.Musial,A.Smith,L.Kilcher,R.Damiani,M.Maness,et al.2016.A Spatial-Economic Cost Reduction Pathway Analysis for U.S.Offshore Wind Energy Development from 2015-2030.Golden,CO:National Renewable Energy Laboratory.NREL/TP6A20-66579.https:/www.nrel.gov/d

109、ocs/fy16osti/66579.pdf.Beiter,Philipp,Lena Kitzing,Paul Spitsen,Miriam Noonan,Volker Berkhout,Yuka Kikuchi.2021.“Toward global comparability in renewable energy procurement.”Joule 5(6):1485-1500.https:/doi.org/10.1016/j.joule.2021.04.017.Bureau of Labor and Statistics.Undated.“CPI Inflation Calculat

110、or.”Accessed September 2022.https:/www.bls.gov/data/#calculators.COREWIND.2021.Floating Wind O&M Strategies Assessment.COREWIND.August 2021.https:/corewind.eu/wp-content/uploads/files/publications/COREWIND-D4.2-Floating-Wind-O-and-M-Strategies-Assessment.pdf.Eberle,A.,O.Roberts,A.Key,P.Bhaskar,and K

111、.Dykes.2019.NRELs Balance-of-System Cost Model for Land-Based Wind.Golden,CO:National Renewable Energy Laboratory.NREL/TP-6A20-72201.https:/www.nrel.gov/docs/fy19osti/72201.pdf.Hammond,R.and A.Cooperman.2022.Windfarm Operations and Maintenance cost-Benefit Analysis Tool(WOMBAT).Golden,CO:National Re

112、newable Energy Laboratory.NREL/TP-5000-83712.https:/www.nrel.gov/docs/fy23osti/83712.pdf.International Electrotechnical Commission.2020.Accessed September 2020.https:/www.iec.ch/.Lantz,E.,B.Sigrin,M.Gleason,R.Preus,and I.Baring-Gould.2016.Assessing the Future of Distributed Wind:Opportunities for Be

113、hind-the-Meter Projects.Golden,CO:National Renewable Energy Laboratory.NREL/TP-6A20-67337.McCabe,K.,A.Prasanna,J.Lockshin,P.Bhaskar,T.Bowen,R.Baranowski,B.Sigrin,and E.Lantz.2022.Distributed Wind Energy Futures Study.Golden,CO:National Renewable Energy Laboratory.NREL/TP-7A40-82519.https:/www.nrel.g

114、ov/docs/fy22osti/82519.pdf.NREL|56ReferencesMcCoy,A.,W.Musial,R.Hammond,D.Mulas Hernando,P.Duffy,P.Beiter,P.Prez,R.Baranowski,and P.Spitsen.2024.Offshore Wind Market Report:2024 Edition.Golden,CO:National Renewable Energy Laboratory.NREL/TP-5000-90525.https:/www.nrel.gov/docs/fy24osti/90525.pdf.Nati

115、onal Renewable Energy Laboratory(NREL).Undated.“Annual Technology Baseline.”Accessed September 2024.https:/atb.nrel.gov/.Nunemaker,J.,M.Shields,R.Hammond,and P.Duffy.2020.ORBIT:Offshore Renewables Balance-of-System and Installation Tool.Golden,CO:National Renewable Energy Laboratory.NREL/TP-5000-770

116、81.https:/www.nrel.gov/docs/fy20osti/77081.pdf.Short,W.,D.J.Packey,and T.Holt.1995.A Manual for the Economic Evaluation of Energy Efficiency and Renewable Energy Technologies.Golden,CO:National Renewable Energy Laboratory.NREL/TP-462-5176.http:/www.nrel.gov/docs/legosti/old/5173.pdf.Shields,M.,P.Bei

117、ter,and J.Nunemaker.2022.A Systematic Framework for Projecting the Future Cost of Offshore Wind Energy.Golden,CO:National Renewable Energy Laboratory.NREL/TP-5000-81819.https:/www.nrel.gov/docs/fy23osti/81819.pdf.Smart,Gavin.2016.Offshore Wind Cost Reduction-Recent and future trends in the UK and Eu

118、rope.Offshore Renewable Energy Catapult.TLI-SP-00007.https:/cms.ore.catapult.org.uk/wp-content/uploads/2017/12/SP00007-Offshore-Wind-Cost-Reduction.pdf.Stehly,T.,P.Duffy,and D.Mulas Hernando.2023.2022 Cost of Wind Energy Review.Golden,CO:National Renewable Energy Laboratory.NREL/PR-5000-88335.https:

119、/www.nrel.gov/docs/fy24osti/88335.pdf.Stehly,T.,P.Beiter,P.Duffy.2020.2019 Cost of Wind Energy Review.Golden,CO:National Renewable Energy Laboratory.NREL/TP-5000-78471.https:/www.nrel.gov/docs/fy21osti/78471.pdf.UL Solutions.Undated.“Wind Farm Design Software Developed on More Than 30 Years of Exper

120、tise.”https:/aws- of Energy(DOE).2024.“The Pathway to:Offshore Wind Commercial Liftoff.”Accessed May 14,2024.https:/liftoff.energy.gov/offshore-wind-liftoff/.U.S.Department of the Treasury.2024.“Domestic Content Safe Harbor Notice.”Accessed September 2024.https:/www.irs.gov/pub/irs-drop/n-24-41.pdf.

121、Valpy,B.G.Hundleby,K.Freeman,A.Roberts,A.Logan.2017.Future renewable energy costs:Offshore wind;57 technology innovations that will have greater impact on reducing the cost of electricity from European offshore wind farms.InnoEnergy and BVG Associates.https:/ D.Millstein.2024.Land-Based Wind Market

122、Report:2024 Edition.Washington,D.C.:U.S.Department of Energy DOE/GO-102023-6055.https:/www.energy.gov/eere/wind/articles/land-based-wind-market-report-2023-edition.Wiser,R.,J.Rand,J.Seel,P.Beiter,E.Baker,E.Lantz,and P.Gilman.2021.“Expert Elicitation Survey Predicts 37%to 49%Declines in Wind Energy C

123、osts by 2050.”Nature Energy 6:555565.https:/doi.org/10.1038/s41560-021-00810-z.7.AppendixNREL|59Methodology for Estimating the Percent Cost Contribution of Major Components in a Fixed-Bottom Offshore Wind Facility The U.S.Department of Treasury(2024)provides a list of Applicable Project Components(A

124、PCs)for an offshore wind facility.NREL developed what we believe to be a representative list of major components,including key subassemblies and systems,that contribute significantly to the cost of the APCs.We used NREL engineering and cost models(including WISDEM and ORBIT),coupled with empirical d

125、ata,to estimate the cost of each major component for a range of turbine and plant configurations,and then reviewed these cost estimates with offshore wind manufacturers.Based on these results,we estimated the relative(or percentage)cost contribution of each manufactured component for the following r

126、eference offshore wind project.Note that this project definition differs from the project used in the majority of the report so that it can be more representative of upcoming offshore wind projects in the United States.ParameterValuePlant capacity1,200 MWTurbine rating15 MWWater depth 40 mCable dist

127、ance to landfall70 kmExport cable voltage220 kV(HVAC),OR320 kV(HVDC)Array cable voltage66 kVkV=kilovolt;HVAC=high-voltage alternating current;HVDC=high-voltage direct currentNREL|60Land-Based Wind Reference Project Details ParameterUnitsValueNotesWind Plant and Reference Site CharacteristicsWind pla

128、nt capacityMW200Representative of current commercial-scale projects atb.nrel.govNumber of turbines-61Turbine ratingMW3.3Rotor diameterm148Hub heightm100Specific powerW/m2192CalculationAnnual average wind speed at 50 mm/s7.25Reference site wind speed Annual average wind speed at hub heightm/s8.01Betw

129、een IEC class III(7.5 m/s)and IEC class II(8.5 m/s)Weibull k factor-2Shear exponent-0.143Shear for neutral stability conditionsTotal system losses%18.8atb.nrel.govNet energy captureMWh/MW/yr4,104System Advisor Model (SAM)calculationNet capacity factor%46.9NREL|61Land-Based Wind System CapEx Breakdow

130、nParameterValue($/kW)NotesCapExTotal CapEx1,968CalculationTurbine1,091Wind Plant Integrated Systems Design and Engineering Model(WISDEM,https:/ module337Blades282Pitch assembly13Hub assembly42Nacelle module477Nacelle structural assembly76Drivetrain assembly236Nacelle electrical assembly137Yaw assemb

131、ly28Tower module276(Continued on next slide)NREL|62Land-Based Wind System CapEx Breakdown(continued)CapExBalance of system582Land-based Balance of System Systems Engineering LandBOSSE(Eberle et al.2019)Development 36Engineering and project management14Foundation120Site access and staging47Assembly a

132、nd installation100Electrical infrastructure72Wind turbine transport 194Soft costs295Construction finance111atb.nrel.govContingency54Includes insurance,permitting,bonding,and markup estimates Wind turbine warranty 130Assumes 2-year warranty ParameterValue($/kW)NotesNREL|63Land-Based Wind OpEx and Fin

133、ancing TermsParameterUnitsValueNotesOpExTotal OpEx$/kW/year43atb.nrel.govFinancialsProject design lifeYears25Project life assumption for Government Performance and Reporting Act(GPRA)reportingTax rate(combined state and federal)%25.7atb.nrel.govInflation rate%2.5Interest during construction(nominal)

134、%7.0Construction finance factor%106.0CalculationDebt fraction%72.4atb.nrel.govDebt interest rate(nominal)%7Return on equity(nominal)%9WACC(nominal;after-tax)%6.25CalculationWACC(real;after-tax)%3.66Capital recovery factor(nominal;after-tax)%8.01Capital recovery factor(real;after-tax)%6.17Depreciable

135、 basis%100Simplified depreciation scheduleDepreciation schedule-5-year MACRS Modified Accelerated Cost Recovery System(MACRS)is standard for U.S.wind projectsDepreciation adjustment(net present value NPV)%84.7CalculationProject finance factor%105FCR(nominal)%8.43FCR(real)%6.50Levelized cost of energ

136、y$/MWh42CalculationNREL|64Fixed-Bottom Offshore Wind Reference Project Details AssumptionUnitsValueNotesWind plant characteristicsWind plant capacityMW600Representative of commercial-scale projectsNumber of turbines-50CalculationTurbine ratingMW12Informed by Offshore Wind Market Report:2024 Edition(

137、McCoy et al.2024)and early U.S.fixed-bottom offshore wind projectsRotor diameterm216Hub heightm137.0Specific powerW/m2327CalculationWater depthm34Representative fixed-bottom offshore site for COE ReviewSubstructure type-MonopileDistance from shorekm50Cut-in wind speedm/s3Cut-out wind speedm/s25Avera

138、ge annual wind speed at 50 mm/s8.4Average annual wind speed at hub heightm/s9.0Shear exponent-0.10Weibull k-2.1Total system losses%15.5Offshore Regional Cost Analyzer(ORCA)(based on Beiter et al.2016)Gross energy captureMWh/MW/year5,081CalculationNet energy captureMWh/MW/year4,295Gross capacity fact

139、or%58.0Computed with FLORISNet capacity factor%49.0NREL|65Fixed-Bottom Offshore Wind System CapEx BreakdownAssumptionValue($/kW)NotesCapExTotal CapEx5,411Turbine1,770Informed by collaborations with industry partnersRotor-nacelle assembly1,487Tower283Balance of system2,629BOS Costs computed with ORBI

140、T(Nunemaker et al.2020)Development121Project management2Substructure and foundation788Substructure232Foundation556Electrical infrastructure1,267Array cable system477Export cable system532Grid connection258Assembly and installation284Turbine installation112Substructure and foundation installation172S

141、oft Costs1,012Soft Costs computed using same methodology as ORCA(Beiter et al.2016)Insurance during construction55Decommissioning bond145Construction finance240Sponsor contingency517Procurement contingency228Installation contingency289Project completion/commissioning55NREL|66Fixed-Bottom Offshore Wi

142、nd OpEx and Financing TermsAssumptionUnitsValueNotesOpExTotal OpEx$/kW/year135Calculated with WOMBATOperations(pretax)$/kW/year22Maintenance$/kW/year113FinancialsProject design lifeYears25Offshore wind project life for GPRA reportingTax Rate(combined state and federal)%26Updated based on conversatio

143、ns with industry partnersInflation rate%2.5Debt fraction%73Debt interest rate(nominal)%7.0Return on equity(nominal)%10.5WACC(nominal;after-tax)%6.61CalculationWACC(real;after-tax)%4.01Capital recovery factor(nominal;after-tax)%8.28Capital recovery factor(real;after-tax)%6.41Depreciable basis%100Simp

144、lified depreciation scheduleDepreciation schedule-5-year MACRS Standard for U.S.wind projectsDepreciation adjustment(NPV)%84.0CalculationProject finance factor%106FCR(nominal)%8.74FCR(real)%6.76Levelized cost of energy$/MWh117CalculationNREL|67Floating Offshore Wind Reference Project Details Assumpt

145、ionUnitsValueNotesWind plant characteristicsWind plant capacityMW600Representative of commercial-scale projectsNumber of turbines-50CalculationTurbine ratingMW12Informed by Offshore Wind Market Report:2024 Edition(McCoy et al.2024)and early U.S.fixed-bottom offshore wind projectsRotor diameterm216Hu

146、b heightm137.0Specific powerW/m2327CalculationWater depthm739Representative floating site for Cost of Wind Energy ReviewSubstructure type-SemisubmersibleDistance from shorekm36Cut-in wind speedm/s3Cut-out wind speedm/s25Average annual wind speed at 50 mm/s7.7Average annual wind speed at hub heightm/

147、s8.5Shear exponent-0.10Weibull k-2.1Total system losses%20.7Offshore Regional Cost Analyzer(ORCA)(based on Beiter et al.2016)Gross energy captureMWh/MW/year4,205CalculationNet energy captureMWh/MW/year3,346Gross capacity factor%48.0Computed with FLORISNet capacity factor%38.2NREL|68Floating Offshore

148、 Wind System CapEx BreakdownAssumptionValue($/kW)NotesCapExTotal CapEx7,349Turbine1,770Informed by collaborations with industry partnersRotor-nacelle assembly1,487Tower283Balance of system4,254BOS Costs computed with ORBIT(Nunemaker et al.2020)Development121Project management2Substructure and founda

149、tion2,192Substructure1,541Foundation651Electrical infrastructure1,428Array cable system654Export cable system500Grid connection274Assembly and installation345Turbine installation0Substructure and foundation installation345Lease price167Soft Costs1,325Soft Costs computed using same methodology as ORC

150、A(Beiter et al.2016)Insurance during construction74Decommissioning bond184Construction finance319Sponsor contingency675Procurement contingency307Installation contingency368Project completion/commissioning74Note:Floating turbine installation costs are included in the“Substructure and foundation insta

151、llation”line item since the turbine is integrated with the substructure at the quayside before the assembly is towed out and installed at the project site.NREL|69Floating Offshore Wind OpEx and Financing TermsAssumptionUnitsValueNotesOpExTotal OpEx$/kW/year108Calculated with WOMBATOperations(pretax)

152、$/kW/year38Maintenance$/kW/year69FinancialsProject design lifeYears25Offshore wind project life for GPRA reportingTax rate(combined state and federal)%26Updated based on conversations with industry partnersFederal%21State%4.7Inflation rate%2.5Debt fraction%73Debt interest rate(nominal)%7.0Return on

153、equity(nominal)%10.5WACC(nominal;after-tax)%6.61CalculationWACC(real;after-tax)%4.01Capital recovery factor(nominal;after-tax)%8.28Capital recovery factor(real;after-tax)%6.41Depreciable basis%100Simplified depreciation scheduleDepreciation schedule-5-year MACRSStandard for U.S.wind projectsDeprecia

154、tion adjustment(NPV)%84.0CalculationProject finance factor%106FCR(nominal)%8.74FCR(real)%6.76Levelized cost of energy$/MWh181CalculationNREL|70Distributed Wind Reference Project Details ParameterUnits20-kW Value100-kW Value1,500-kW ValueNotesWind Plant CharacteristicsWind plant capacitykW201001,500R

155、epresentative of residential distributed wind projectNumber of turbines-111Turbine ratingkW201001,500Assessing the Future of Distributed Wind:Opportunities for Behind-the Meter Projects(Lantz et al.2016)Rotor diameterm12.427.677Hub heightm304080Specific powerW/m2166167322CalculationCut-in wind speed

156、m/s333Typical turbine characteristicsCut-out wind speedm/s202525Annual average wind speed at 50 mm/s6.006.006.00Reference site wind speed Annual average wind speed at hub heightm/s5.585.816.42IEC class IV Weibull k factor-2.02.02.0Shear exponent-0.1430.1430.143Shear for neutral stability conditionsA

157、ltitude above mean sea levelm000Altitude at turbine foundation Losses%777Informed by Competitiveness Improvement Project(https:/www.nrel.gov/wind/competitiveness-improvement-project.html)Availability%959595Net energy capturekWh/kW/yr2,5802,8463,326Calculation in Openwind(UL website:https:/aws- capac

158、ity factor%29.532.538.0NREL|71Distributed Wind System CapEx,OpEx,and Financials BreakdownParameterUnits20-kW Value 100-kW Value1,500-kW ValueNotesCapExTotal CapEx$/kW8,6656,8003,362Turbine$/kW3,9324,0012,459atb.nrel.govBalance of system$/kW4,7332,799903NRELs Balance-of-System Cost Model for Land-Bas

159、ed Wind(Eberle et.al.,2019)OpExTotal OpEx$/kW/year414141Assessing the Future of Distributed Wind:Opportunities for Behind-the Meter Projects(Lantz et al.2016)FinancialsProject design lifeYears252525Project life for Government Performance and Reporting Act(GPRA)reportingTax Rate(combined state and fe

160、deral)%25.725.725.7atb.nrel.govInflation rate%2.52.52.5Debt fraction%737373Assessing the Future of Distributed Wind:Opportunities for Behind-the Meter Projects(Lantz et al.2016)Debt interest rate(nominal)%777Lawrence Berkeley National Laboratory 2021 financial analysis Return on equity(nominal)%1010

161、10WACC(nominal;after-tax)%6.56.56.5CalculationWACC(real;after-tax)%3.93.93.9Capital recovery factor(nominal;after-tax)%8.28.28.2Capital recovery factor(real;after-tax)%6.336.336.33Depreciable basis%100100100Simplified depreciation scheduleDepreciation schedule-5-year MACRS5-year MACRS5-year MACRSDep

162、reciation adjustment(NPV)%84.284.284.2CalculationProject finance factor%105105105FCR(nominal)%8.648.648.64FCR(real)%6.686.686.68Levelized cost of energy$/MWh24017480Calculationwww.nrel.govPhoto from iStock-627281636Thank YouNREL/PR-5000-91775This work was authored by the National Renewable Energy La

163、boratory,operated by Alliance for Sustainable Energy,LLC,for the U.S.Department of Energy(DOE)under Contract No.DE-AC36-08GO28308.Funding provided by U.S.Department of Energy Office of Energy Efficiency and Renewable Energy Wind Energy Technologies Office.The views expressed in the article do not ne

164、cessarily represent the views of the DOE or the U.S.Government.The U.S.Government retains and the publisher,by accepting the article for publication,acknowledges that the U.S.Government retains a nonexclusive,paid-up,irrevocable,worldwide license to publish or reproduce the published form of this work,or allow others to do so,for U.S.Government purposes.