Electricity generation converts primary energy sources such as fossil fuels, wind, or sunlight into electric energy. Historically, and still today, most electricity is generated in thermal power plants, which convert heat from the combustion of fossil fuels or the reaction of nuclear materials into electric energy. Also, a significant portion of electricity is generated using hydroelectric dams, which channel stored water through hydropower turbines. However in recent years, new generation technologies of wind turbines, solar panels, and combustion turbines are a significant proportion of new power plant installations – challenging the historical structure of the electric industry.
The Full Cost of Electricity study seeks to quantify the costs associated with different generation technologies, and how those costs interact with the cost of electric delivery, consumption, and to determine the total direct and indirect costs of electricity.
Related Energy Institute Publications
The Levelized Cost of Electricity in Microgrids
The Past and Future of Net Metering for distributed Energy
State-level Financial Support for Electricity Generation Technologies
Unit-commitment, dispatch, and capacity expansion modeling of ERCOT