How much does it cost to generate electricity with different types of power plants?
The U.S. Energy Information Administration (EIA) has historical data on the average annual operation, maintenance, and fuel costs for existing power plants by major fuel or energy source types in Table 8.4. Average power plant operating expenses for major U.S. investor-owned electric utilities1 of the Electric Power Annual.
EIA has projections for electricity generation costs in the Annual Energy Outlook. The most recent projections and estimates for different types of power plants are in Levelized cost and levelized avoided cost of new generation resources in the Annual Energy Outlook 2019, which includes estimated costs in dollars per megawatthour (mWh) based on a 30-year cost recovery period for various types of power plants that start operation in 2020, 2022, and 2040.
1 A mill is equal to 1/1,000 of a U.S. dollar, or 1/10 of one cent. Mills per kilowatthour (kWh) equals dollars per megawatthour (mWh). To convert mills per kWh to cents per kWh, divide mills per kWh by 10.
New U.S. power plants expected to be mostly natural gas combined-cycle and solar PV
Power plants’ costs and value to the grid are not easily reflected using simple metrics
Assessing the Economic Value of New Utility-Scale Renewable Generation Projects
Electricity Market Module and Renewable Fuels Module in the Assumptions to the Annual Energy Outlook
Model Documentation: National Energy Modeling System (NEMS)
Last updated: March 8, 2019
Other FAQs about Electricity
- Can electric utility customers choose their electricity supplier?
- Does EIA have county-level energy production data?
- Does EIA have data on costs for electricity transmission and distribution?
- Does EIA have data on each power plant in the United States?
- Does EIA have energy consumption and price data for cities, counties, or by zip code?
- Does EIA have projections for energy production, consumption, and prices for individual states?
- Does EIA publish data on peak or hourly electricity generation, demand, and prices?
- Does EIA publish electric utility rate, tariff, and demand charge data?
- Does EIA publish electricity consumption and price data by state and by utility?
- Does EIA publish the location of electric power plants and transmission lines?
- How is electricity used in U.S. homes?
- How many nuclear power plants are in the United States, and where are they located?
- How many power plants are there in the United States?
- How many smart meters are installed in the United States, and who has them?
- How much coal, natural gas, or petroleum is used to generate a kilowatthour of electricity?
- How much does it cost to build different types of power plants in the United States?
- How much does it cost to generate electricity with different types of power plants?
- How much electricity does a nuclear power plant generate?
- How much electricity does an American home use?
- How much electricity is lost in electricity transmission and distribution in the United States?
- How much electricity is used for cooling in the United States?
- How much electricity is used for lighting in the United States?
- How much energy does the world consume by each energy end-use sector?
- How much of U.S. carbon dioxide emissions are associated with electricity generation?
- How much of U.S. energy consumption and electricity generation comes from renewable energy sources?
- How much of world energy consumption and production is from renewable energy?
- How old are U.S. nuclear power plants, and when was the newest one built?
- What is U.S. electricity generation by energy source?
- What is the difference between electricity generation capacity and electricity generation?
- What is the efficiency of different types of power plants?
- What is the outlook for home heating fuel prices this winter?
- What types and amounts of energy are produced in each state?