Levelized Cost and Levelized Avoided Cost of New Generation Resources in the Annual Energy Outlook 2020

This paper presents average values of levelized costs and levelized avoided costs for generating technologies entering service in 2020, 2022,1 and 2040 as represented in the National Energy Modeling System (NEMS) for the Annual Energy Outlook 2018 (AEO2018) Reference case.2 The costs for generating technologies entering service in 2022 are presented in the body of the report, with those for 20203 and 2040 included in Appendices A and B, respectively. Both a capacity-weighted average based on projected capacity additions and a simple average (unweighted) of the regional values across the 22 U.S. supply regions of the NEMS electricity market module (EMM) are provided, together with the range of regional values.