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The levelized cost of electricity (LCOE) is a metric that attempts to compare the costs of different methods of electricity generation consistently. Though LCOE is often presented as the minimum constant price at which electricity must be sold to break even over the lifetime of the project, such a cost analysis requires assumptions about the value of various non-financial costs (environmental ...
According to the U.S. Energy Information Administration (EIA), "Electricity prices generally reflect the cost to build, finance, maintain, and operate power plants and the electricity grid." Where pricing forecasting is the method by which a generator, a utility company, or a large industrial consumer can predict the wholesale prices of ...
This is the definition declared in the modern International System of Units in 1960. [14] The definition of the joule as J = kg⋅m 2 ⋅s −2 has remained unchanged since 1946, but the joule as a derived unit has inherited changes in the definitions of the second (in 1960 and 1967), the metre (in 1983) and the kilogram . [15]
The cost of a electricity production depends on costs during the expected lifetime of the generator and the amount of electricity the generator is expected to produce over its lifetime. The levelized cost of electricity (LCOE) is the average cost in currency per energy unit, for example, EUR per kilowatt-hour or AUD per megawatt-hour. [3]
The calorie is defined as the amount of thermal energy necessary to raise the temperature of one gram of water by 1 Celsius degree, from a temperature of 14.5 °C, at a pressure of 1 atm. For thermochemistry a calorie of 4.184 J is used, but other calories have also been defined, such as the International Steam Table calorie of 4.1868 J .
1 PSh = 0.73549875 kW⋅h = 2647.7955 kJ (exactly by definition) The horsepower-hour is still used in the railroad industry when sharing motive power (locomotives). For example, if Railroad A borrows a 2,500 horsepower locomotive from Railroad B and operates it for twelve hours, Railroad A owes a debt of (2,500 hp × 12 h) 30,000 hp⋅h.
Avoirdupois is a system of mass based on a pound of 16 ounces, while Troy weight is the system of mass where 12 troy ounces equals one troy pound. The symbol g 0 is used to denote standard gravity in order to avoid confusion with the (upright) g symbol for gram.
The SI unit of power, defined as energy per unit of time, is the watt, which is a joule per second. Thus, one joule is one watt-second, and 3600 joules equal one watt-hour. The CGS energy unit is the erg and the imperial and US customary unit is the foot pound.