Search results for: “renewables”
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Biomass power: costs, levelized costs and BECCS?
This data-file captures the economics of producing wood pellets, generating electricity from biomass, and potentially also building a further CCS facility to yield ‘carbon negative power’ (which is nevertheless more CO2 intensive than burning gas!). Our numbers are backstopped by industry data, including 340 US biomass plants.
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Biomass and BECCS: what future in the transition?
20% of Europe’s renewable electricity currently comes from biomass, mainly wood pellets, burned in facilities such as Drax’s, 2.6GW Yorkshire plant. But what are the economics and prospects for biomass power as the energy transition evolves? This 18-page analysis leaves us cautious.
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Geothermal energy: costs and economics?
Geothermal energy costs are modelled from first principles in this data-file. LCOEs of 6c/kWh are available in geothermal hotspots. Outside of the hotspots, enhanced geothermal heat can cost 2-14c/kWh-th for a 10% IRR on $500-5,000/kW-th capex, while a rule of thumb is that geothermal electricity costs 5x geothermal heat.
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Geothermal energy: what future in the transition?
Drilling wells and lifting fluids to the surface are core skills in oil and gas. Hence could geothermal be a natural fit in the energy transition? Next-generation geothermal economics can be very competitive, both for power and heat. Pilot projects are accelerating. This 17-page note presents the opportunity.
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Prevailing wind: new opportunities in grid volatility?
UK wind power has almost trebled since 2016. But its output is volatile, now varying between 0-50% of the total grid. Hence this 14-page note assesses the volatility, using granular, hour-by-hour data from 2020, to outline which backup opportunities are best-placed.
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Decarbonizing global energy: the route to net zero?
The global energy system can be fully decarbonized by 2050, for an average CO2 cost of $42/ton. Remarkably, this is almost half the cost foreseen one year ago. 85Mbpd of oil and 375TCF pa of gas are still required in this 2050 energy system, together with efficiency technologies, carbon capture and offsets.
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Enhanced geothermal: technology challenges?
This data-file tabulates the greatest challenges and focus areas for harnessing deep geothermal energy, based on reviewing 30 recent patents from 20 companies in the space. We conclude that recent advances from the unconventional oil and gas industry are going to be a crucial enabler.
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Hydro electric power: the economics?
A typical hydro project requires a 10c/kWh power price and a $50/ton CO2 price to generate an unlevered IRR of 10%. 80% of the cost is capex. Hence at a 6% hurdle rate, the incentive price falls to 6c/kWh. Cash opex is 2c/kWh. CO2 intensity is effectively nil, even after reflecting the construction energy.
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Onshore wind: the economics?
The levelized cost of onshore wind is estimated in this economic model, at 5-7c/kWh to generate 5-10% levered IRRs on new wind project costing $1,000-3,000/kW. The model also contains a granular breakdown of wind capex costs, operating costs, and other economic assumptions for wind projects.
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Uranium mining: the economics?
This data-file disaggregates the marginal costs of a new uranium mine, as a simple function of uranium prices, ore grade, capex and opex. Our base case is a marginal cost of $60/lb for a 10% IRR. Cash costs range from $7-40/lb. But lower ore grades can easily require $90/lb uranium to justify investment.
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