Large-scale solar PV LCOE comprehensive breakdown methodology

  • Alejandro Castillo- Ramírez
  • Diego Mejía- Giraldo
  • Nicolás Muñoz- Galeano
Keywords: LCOE breakdown, Large-Scale Photovoltaic, Investment costs,, Operational and maintenance costs, Incentives, WACC


This paper presents a breakdown cost methodology to evaluate Levelized Costs of Electricity for large-scale Photovoltaic (PV) plants. The breakdown is based on a comprehensive taxonomy to evaluate Investment Costs (IC) and Operation and Maintenance (O&M) expenditures. We added an IC disaggregation level, called elements, on top of the five-component breakdown of the Energy Information Administration (EIA). In addition, a novel structure for disaggregating O&M costs is also proposed. The methodology is evaluated over a 20-MW and a 150-MW PV power plant hypothetically placed in the municipality of Uribia (Guajira Colombia). Also deterministic sensitivity analysis based on discount rate (WACC, Weighted Average Capital Cost), energy generated, O&M costs and IC is performed to aid investors in their decisions.

How to Cite
Castillo- Ramírez, A., Mejía- Giraldo, D., & Muñoz- Galeano, N. (2017). Large-scale solar PV LCOE comprehensive breakdown methodology. CT&F - Ciencia, Tecnología Y Futuro, 7(1), 117–136.


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