Use the ECAT Energy Cost Calculator to calculate the cost per kWh for the thermal energy. The price is given in $/MWh so for $/kWh just divide by 1000. The Levelized Energy Cost is in Present Value, i.e. the Levelized Investment Cost is calculated in Present Value, all other terms is in Present value by default. Term explanations:
Levelized Energy Cost – This is the annually discounted cost for the produced energy in Present Value. LEC=Σt((It+Mt+Ft)/(1+r)t)/Σt((Et)/(1+r)t), where It: Investment cost year t, Mt: Maintenance cost year t, Ft: Fuel Cost year t, Et: produced Energy year t, r: Discount rate. In our case we only have an investment cost year 1 and the Energy output is the same for all years and Maintenance and Fuel cost is already given in Present Value so we just Levelize the Investment Cost and add the other parts separately.
Levelized Investment Cost – This is the annually discounted investment cost, i.e. instead of simply dividing by years, the discount rate is taken into account giving. LIC=(I*r/(1+r)/(1-(1+r)-n))/(P*Hrs), where I: investment cost, n: years and r: discount rate, P: power, Hrs: Operation hours per year.
COP(Coefficient of Performance) – this is the multiplication factor of Heat to Input Power.