Lazard's Levelized Cost of Energy (LCOE) analysis provides a comparison of various power generation technologies based on $/MWh, including sensitivity to federal tax subsidies, fuel prices, and capital costs. The report also includes a comparison of the LCOE of onshore wind and utility-scale solar with selected conventional generation technologies, a historical comparison of various utility-scale generation technologies, an explanation of the historical LCOE decline of wind and utility-scale solar, a comparison of the LCOE of wind and utility-scale solar with natural gas peaking and combined cycle, a comparison of the capital costs of various power generation technologies based on $/kW, a breakdown of the LCOE of various power generation technologies into capital costs, fixed O&M expenses, variable O&M expenses, and fuel costs, an overview of the methodology used to prepare Lazard's LCOE analysis, an explanation of various operating characteristics and applications of renewable energy technologies, a comparative discussion of the carbon reduction value of various renewable energy technologies, and a summary of the assumptions used in Lazard's LCOE analysis. Other factors may also significantly affect the results of this report, but have not been checked within the scope of this current analysis.
