โLevelized costโ can be a useful concept. But it can also be mis-used, as though one โenergy source to rule them allโ was on the cusp of pushing out all the other energy sources. Cost depends on context. Every power source usually ranges from 5-15c/kWh. A resilient, low-carbon grid is diversified. And there is hidden value in materials, power quality and electronics. These ideas are explored in our 15-page note.