A tool for measuring the system cost of replacement energy

Amanda Harker Steele, Smriti Sharma, Ivonne Pena Cabra, Luke Clahane and Arun Iyengar

Energy, 2023, vol. 275, issue C

Abstract: Replacing legacy high carbon technologies (LHCTs) with new low carbon technologies (NLCTs), particularly NLCTs featuring variable renewable resources, can disproportionally influence the costs associated with maintaining a reliable and competent grid system. Traditional cost metrics and publicly available tools that make use of these metrics fail to capture the total systems cost (TSC) implications of such changes, highlighting the need for a tool that will capture these implications. This paper presents the results of a tool developed to estimate the System Cost of Replacement Energy (SCoRE) when NLCTs replace LHCTs in an operating region. The SCoRE estimates potential changes in the TSC resulting from the replacement. The SCoRE tool is applied to the Electric Reliability Council of Texas (ERCOT) operating region. LHCTs, namely coal- and natural gas-fired power plants are replaced by NLCTs including solar photovoltaics and wind, with and without energy storage, and coal and natural gas power plants equipped with carbon capture and storage (CCS). The results showcase the TSC implications of different replacement scenarios, which for ERCOT include larger increases in the TSC if LHCTs are replaced with wind and solar, in lieu of natural gas power plants equipped with CCS, for all decarbonization targets considered.

Keywords: Total systems cost; System cost of replacement energy; Electricity; Decarbonization (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:275:y:2023:i:c:s0360544223007880

DOI: 10.1016/j.energy.2023.127394

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