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This is the fifth study in a series on the future costs of generating electricity. It reviews cost estimates for power plants using nuclear, coal, gas and renewable energy sources. Experts from fourteen OECD countries and five non-OECD countries provided estimated costs for investment, for operations and maintenance, and for fuel for more than 70 power plants. A uniform, consistent method of analysis produces comparable, levelised costs of electricity (cents/kWh). The study also analyses the effects on generation costs of variations in economic lifetime, plant load, and fossil fuel price escalation. An authoritative reference in the field, this publication will be especially useful to electricity system analysts and experts in electric power economics.
This report looks at how investors have responded to the need to internalise investment risk in power generation and how these responses have affected the organisation of the power sector and technology choices.
This study looks at several cases of volatile prices in IEA countries’ electricity markets, and finds that while market prices can be a sufficient incentive for new investment in peak capacity, government intervention into the market to limit prices may undermine such investment.
This sixth study in a series on projected costs of generating electricity presents and analyses cost estimates for some 130 power and co-generation (heat and power) plants using coal, gas, nuclear and renewable energy sources. Experts from 19 OECD member countries, 2 international organisations and 3 non-member countries contributed to the study.
The levelised lifetime costs presented and analysed were calculated with input data from participating experts and commonly agreed generic assumptions, using a uniform methodology. Key issues related to generation costs are addressed in the report, including methodologies to incorporate risk in cost assessments, impact of carbon emission trading and integration of wind power into electricity grids.
A reference in the field, this publication will be of interest to energy policy makers, electricity system analysts and energy economists.
Energy security, economic prosperity and environmental protection are prominent challenges for all countries. The use of hydrogen as an energy carrier and fuel cells as motive devices in transportation and energy distribution systems are possible solutions. This book provides the reader with an authoritative and objective analysis of policy responses and hurdles and business opportunities. Information regarding the latest RD&D, policy initiatives and private sector plans are assessed from the perspective of the rapidly changing global energy system in the next half century.
This book provides:
• The reality of the technology status-quo;
• A hard look at hydrogen and fuel cells benefits in comparison to other options;
• An incisive analysis of the main barriers for a hydrogen and fuel cell transition;
• Four scenarios for a hydrogen and fuel cells transition;
• Guidance for far-reaching decision making under uncertainty.
Prospects for hydrogen and fuel cells offers the facts, figures and strategic thinking that is needed for true solutions to the world’s energy problems.
Existing buildings are responsible for over 40% of the world’s total primary energy consumption. An impressive amount of energy could be saved simply by applying energy-efficient technologies. Yet, various market barriers inhibit energy efficiency improvements in existing buildings and result in energy savings that are significantly lower than potentials. This publication provides illustrations of policies and measures implemented in five IEA member countries and the European Union. Each case includes relevant background and contextual information, as well as a detailed evaluation of each policy according to five pre-defined criteria: relevance, effectiveness, flexibility, clarity and sustainability.
This joint IEA/NEA report on electricity generating costs presents the latest data available for a wide variety of fuels and technologies, including coal and gas (with and without carbon capture), nuclear, hydro, onshore and offshore wind, biomass, solar, wave and tidal as well as combined heat and power (CHP). It provides levelised costs of electricity (LCOE) per MWh for almost 200 plants, based on data covering 21 countries (including four major non-OECD countries), and several industrial companies and organisations. For the first time, the report contains an extensive sensitivity analysis of the impact of variations in key parameters such as discount rates, fuel prices and carbon costs on LCOE. Additional issues affecting power generation choices are also examined.
This publication provides governments with guidance on the policy options that are available to make the most of private investment opportunities in clean energy infrastructure, drawing on the expertise of climate and investment communities among others. It identifies key issues for policy makers to consider, including in investment policy, investment promotion and facilitation, competition policy, financial markets, and public governance. It also addresses cross-cutting issues, including regional co-operation and international trade for investment in clean energy infrastructure.
This joint report by the International Energy Agency (IEA) and the Nuclear Energy Agency (NEA) is the eighth in a series of studies on electricity generating costs. As policy makers work to ensure that the power supply is reliable, secure and affordable, while making it increasingly clean and sustainable in the context of the debate on climate change, it is becoming more crucial that they understand what determines the relative cost of electricity generation using fossil fuel, nuclear or renewable sources of energy. A wide range of fuels and technologies are presented in the report, including natural gas, coal, nuclear, hydro, solar, onshore and offshore wind, biomass and biogas, geothermal, and combined heat and power, drawing on a database from surveys of investment and operating costs that include a larger number of countries than previous editions.
The analysis of more than 180 plants, based on data covering 22 countries, reveals several key trends, pointing, for example, to a significant decline in recent years in the cost of renewable generation. The report also reveals that nuclear energy costs remain in line with the cost of other baseload technologies, particularly in markets that value decarbonisation. Overall, cost drivers of the different generating technologies remain both market-specific and technology-specific.
Readers will find a wealth of details and analysis, supported by over 200 figures and tables, underlining this report’s value as a tool for decision makers and researchers concerned with energy policies, climate change and the evolution of power sectors around the world.
New opportunities to use carbon dioxide (CO2) in the development of products and services are capturing the attention of governments, industry and the investment community. Climate change mitigation is the primary driver for this increased interest, but other factors include technology leadership and supporting a circular economy. This analysis considers the near-term market potential for five key categories of CO2-derived products and services: fuels, chemicals, building materials from minerals, building materials from waste, and CO2 use to enhance the yields of biological processes.
While some technologies are still at an early stage of development, all five categories could individually be scaled-up to a market size of at least 10 MtCO2/yr – almost as much as the current CO2 demand for food and beverages – but most face commercial and regulatory barriers. CO2 use can support climate goals where the application is scalable, uses low-carbon energy and displaces a product with higher life-cycle emissions. Some CO2-derived products also involve permanent carbon retention, in particular building materials. A better understanding and improved methodology to quantify the life-cycle climate benefits of CO2 use applications are needed.
The market for CO2 use is expected to remain relatively small in the short term, but early opportunities could be developed, especially those related to building materials. Public procurement of low-carbon products can help to create an early market for CO2-derived products and assist in the development of technical standards. In the long term, CO2 sourced from biomass or the air could play a key role in a net-zero CO2 emission economy, including as a carbon source for aviation fuels and chemicals.
Electricity is an integral part of all modern economies, supporting a range of critical services from healthcare to banking to transportation. The secure supply of electricity is thus of paramount importance. The power sector is going through fundamental changes: decarbonisation with fast growth in variable renewable sources, digitalisation expanding the surface for cyberattacks, and climate change leading to more extreme weather events. In response, governments, industries and other stakeholders will need to improve their frameworks for ensuring electricity security through updated policies, regulations and market designs.
This report surveys the ongoing multiple transformations in the electricity sector, which are leading to a new system in the future. For the first time, three key aspects of electricity security are addressed in one report: energy transitions with more variable renewables, cyber risks, and climate impacts. In addition, the roles of new technologies and demand-side response, and electrification of other sectors are explored. Examples and case studies of all these changes are taken from power systems around the world. Existing frameworks that value and provide electricity security are described, and best practices offered along with recommendations to guide policy makers as they adjust to the various trends underway.
This joint report by the International Energy Agency and the OECD Nuclear Energy Agency is the ninth in a series of studies on electricity generating costs. As countries work towards ensuring an electricity supply that is reliable, affordable and increasingly low carbon, it is crucial that policymakers, modellers and experts have at their disposal reliable information on the cost of generation. This report includes cost data on power generation from natural gas, coal, nuclear, and a broad range of renewable technologies. For the first time, information on the costs of storage technologies, the long-term operation of nuclear power plants and fuel cells is also included. The detailed plant-level cost data for 243 power plants in 24 countries, both OECD and non-OECD, is based on the contributions of participating governments and has been treated according to a common methodology in order to provide transparent and comparable results.
Low-carbon electricity systems are characterised by increasingly complex interactions of different technologies with different functions in order to ensure reliable supply at all times. The 2020 edition of Projected Costs of Generating Electricity thus puts into context the plain metric for plant-level cost, the levelised cost of electricity (LCOE). System effects and system costs are identified with the help of the broader value-adjusted LCOE, or VALCOE metric. Extensive sensitivity analyses and five essays treating broader issues that are crucial in electricity markets round out the complementary information required to make informed decisions. A key insight is the importance of the role the electricity sector plays in decarbonising the wider energy sector through electrification and sector coupling.
The key insight of the 2020 edition of Projected Costs of Generating Electricity is that the levelised costs of electricity generation of low-carbon generation technologies are falling and are increasingly below the costs of conventional fossil fuel generation. Renewable energy costs have continued to decrease in recent years and their costs are now competitive, in LCOE terms, with dispatchable fossil fuel-based electricity generation in many countries. The cost of electricity from new nuclear power plants remains stable, yet electricity from the long-term operation of nuclear power plants constitutes the least cost option for low-carbon generation. At the assumed carbon price of USD 30 per tonne of CO2 and pending a breakthrough in carbon capture and storage, coal-fired power generation is slipping out of the competitive range. The cost of gas-fired power generation has decreased due to lower gas prices and confirms the latter’s role in the transition. Readers will find a wealth of details and analysis, supported by over 100 figures and tables, that establish the continuing value of the Projected Costs of Generating Electricity as an indispensable tool for decision-makers, researchers and experts interested in identifying and comparing the costs of different generating options in today’s electricity sector.
Electricity is an integral part of all modern economies, supporting a range of critical services from healthcare to banking to transportation. The secure supply of electricity is thus of paramount importance. The power sector is going through fundamental changes: decarbonisation with fast growth in variable renewable sources, digitalisation expanding the surface for cyberattacks, and climate change leading to more extreme weather events. In response, governments, industries and other stakeholders will need to improve their frameworks for ensuring electricity security through updated policies, regulations and market designs.
This report surveys the ongoing multiple transformations in the electricity sector, which are leading to a new system in the future. For the first time, three key aspects of electricity security are addressed in one report: energy transitions with more variable renewables, cyber risks, and climate impacts. In addition, the roles of new technologies and demand-side response, and electrification of other sectors are explored. Examples and case studies of all these changes are taken from power systems around the world. Existing frameworks that value and provide electricity security are described, and best practices offered along with recommendations to guide policy makers as they adjust to the various trends underway..
The IEA regularly conducts peer reviews of the energy policies of its member countries. This process supports energy policy development and encourages the exchange of best practices and experiences to help drive secure and affordable energy transitions.
Portugal’s energy and climate policies push for carbon neutrality, primarily through broad electrification of energy demand and a rapid expansion of renewable electricity generation, along with increased energy efficiency. There is a strong focus on reducing energy import dependency and maintaining affordable access to energy. In the longerterm Portugal is aiming for hydrogen to play a major role in achieving carbon neutrality.
Portugal has made notable progress on decarbonising electricity generation and on electrification of building energy demand, however, the country’s energy mix is still dominated by fossil fuels. The transport, industry and buildings sectors all have considerable work ahead of them to meet Portugal’s targets for increasing the share of renewables, lowering energy demand and reducing emissions. In this report, the IEA provides a range of energy policy recommendations to help Portugal smoothly manage the transition to an efficient and flexible carbon-neutral energy system.
This report presents a comprehensive assessment of the policy instruments adopted by the Netherlands to reach carbon neutrality in its manufacturing sector by 2050. The analysis illustrates the strength of combining a strong commitment to raising carbon prices with ambitious technology support, uncovers the pervasiveness of competitiveness provisions, and highlights the trade-off between short-term emissions cuts and longer-term technology shift. The Netherlands’ carbon levy sets an ambitious price trajectory to 2030, but is tempered by extensive preferential treatment to energy-intensive users, yielding a highly unequal carbon price across firms and sectors. The country’s technology support focuses on the cost-effective deployment of low-carbon options, which ensures least-cost decarbonisation in the short run but favours relatively mature technologies. The report offers recommendations for policy adjustments to reach the country’s carbon neutrality objective, including the gradual removal of exemptions, enhanced support for emerging technologies and greater visibility over future infrastructure plans.
Los Principios rectores de los contratos duraderos en el sector extractivo (Principios rectores) ofrecen una serie de orientaciones para que los proyectos de desarrollo de recursos naturales guarden un equilibrio de riesgos y beneficios, base de una contratación duradera, y para que, desde un primer momento, se tengan en cuenta los intereses y las inquietudes de la comunidad. Mediante la propuesta de un modelo sobre el contenido y la negociación de contratos del sector extractivo duraderos, se quiere poner freno a factores que acaben derivando en renegociaciones e incentivar el uso de disposiciones lo suficientemente flexibles y adaptables para, por ejemplo, ajustarse automáticamente a las condiciones de mercado prevalentes. Asimismo, los Principios rectores pueden ayudar a gobiernos receptores y a inversionistas a dar explicaciones a la opinión pública, lo que siempre contribuye a superar tensiones entre las partes interesadas. En definitiva, estos ocho Principios rectores y la información relacionada pueden devenir un marco de referencia común para que los que participan en la negociación de contratos del sector extractivo (gobiernos receptores, inversionistas, agentes de apoyo y juristas) redacten contratos duraderos, sostenibles y beneficiosos para todas las partes. Esta publicación es la versión en español de una publicación en inglés perteneciente a la serie OECD Development Policy Tools.
Reducing global carbon dioxide (CO2) emissions to net zero by 2050 is necessary to limit the long‐term increase in average global temperatures to 1.5 °C. Today, coal-fired power generation is the largest single source of CO2 emissions. Therefore, tackling emissions from this sector is critical to achieving our goal. National governments, subnational jurisdictions, coalitions and many large corporations have announced coal phase-out pledges and net zero targets. Ahead of COP 26 in November 2021, Phasing Out Unabated Coal: Current Status and Three Case Studies gathers all known national commitments to eventually stop using unabated coal-fired power generation announced to date and assesses their impact in terms of reducing emissions. In addition, the report analyses three jurisdictions in detail to extract recommendation. First, an early example of coal phase-out commitment and execution from the Canadian province of Ontario. Second, the case of the United Kingdom, where the industrial revolution started but which was one of the first countries to decide to phase out coal. Finally, Germany, where phasing out is particularly complex because it is the largest coal-fired power generator among those committing to a phase-out and has thousands of jobs that rely on lignite mining. This paper acknowledges that each country must tailor its approach based on its own specific circumstances, but that nonetheless there are instructive experiences from other jurisdictions undertaking similar measures.
The International Energy Agency prepared this report, within the framework of a Global Environment Facility (GEF) programme aimed at supporting low- and middle-income economies in their transition to E-mobility. It is the first deliverable of Working Group Four on Charging, Grid Integration, Renewable Power Supply and Battery Re-use, Recycling and Safe Disposal. Its objective is to provide policy makers with a comprehensive overview of the ecosystem of public charging infrastructure (defined as infrastructure that is publicly accessible), as well as key recommendations for its efficient deployment. Although it focuses on charging systems for light-duty vehicles, the report also discusses implications for two- and three-wheelers, as well as heavy-duty vehicles. The findings summarised here are informed by the many contributions and insights provided by international stakeholders. The IEA’s analysis begins with a definition of charging infrastructure and describes the different business models associated with it. We present a number of policy examples and conclude with five key recommendations for ensuring the efficient roll-out of public charging infrastructure.
The International Energy Agency (IEA) regularly conducts in-depth peer reviews of the energy policies of its member countries. This process supports energy policy development and encourages the exchange of international best practices and experiences to help drive secure and affordable clean energy transitions.Poland’s energy policy aims to decarbonise its energy supply through expanding renewable energy, introducing nuclear energy, powering transportation through electricity, and increasing energy efficiency across the economy. A central aspect of Poland’s energy policy is reducing the reliance on coal, especially for electricity generation and building heating. There is a strong policy focus on energy security and ensuring a just transition that maintains affordable access to energy and protects vulnerable consumers, while promoting economic growth.Poland has made notable progress on energy transition. It has one of the fastest growing markets for distributed solar PV in Europe, and it has developed a strong programme to drive offshore wind deployment. Poland has also taken important steps to improve energy security, like diversifying energy imports away from Russia. However, the country’s energy mix is still dominated by fossil fuels. All sectors have considerable work ahead to meet targets for increasing the share of renewables, lowering energy demand and reducing emissions.In this report, the IEA provides a range of energy policy recommendations to help Poland smoothly manage the transition to an efficient and flexible low-carbon energy system.
Accelerating the transition to net zero greenhouse gas (GHG) emissions is urgently required to contain the risks of climate change. As countries seek to reduce GHG emissions, they can employ or reform a wide range of policy instruments. This report tracks how explicit carbon prices, energy taxes and subsidies have evolved between 2018 and 2021. This is an important subset of the policy instruments available to governments. All instruments considered in this report either directly change the cost of emitting GHG or change electricity prices. Reforming these instruments could help to meet climate targets, lead to cleaner air and water, and improve public finances. The report covers 71 countries, which together account for approximately 80% of global GHG emissions and energy use. Explicit carbon prices, as well as energy taxes and subsidies are detailed by country, sector, product and instrument. The use of a common methodology ensures comparability across countries. Summary indicators facilitate cross-country comparisons and allow policy makers and the public to keep track of progress made and identify opportunities for reform.