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<p>The Department will soon be publishing updated analysis comparing the cost of electricity
generation across renewable and selected non-renewable technologies, reflecting the
latest evidence. This will be published by the end of March 2024. The Levelised Cost
of Electricity (LCOE) is a widely used metric which provides a simple way to compare
costs across technologies. There are alternative metrics, such as the Energy Return
on Investment but all metrics have limitations. Some additional factors than for LCOEs,
such as timing and location of generation can be considered by enhanced LCOE analysis.
Full system costs are evaluated by the Department’s power modelling.</p>
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