Capital Cost and Performance Characteristic Estimates for Utility Scale Electric Power Generating Technologies February 2020 Independent Statistics & Analysis U.S. Department of Energy www.eia.gov Washington, DC 20585 This report was prepared by the U.S. Energy Information Administration (EIA), the statistical and analytical agency within the U.S. Department of Energy. By law, EIA’s data, analyses, and forecasts are independent of approval by any other officer or employee of the United States Government. The views in this report therefore should not be construed as representing those of the U.S. Department of Energy or other federal agencies. U.S. Energy Information Administration | Capital Costs and Performance Characteristics for Utility Scale Power Generating Technologies i February 2020 Capital Cost and Performance Characteristic Estimates for Utility Scale Electric Power Generating Technologies To accurately reflect the changing cost of new electric power generators for AEO2020, EIA commissioned Sargent & Lundy (S&L) to evaluate the overnight capital cost and performance characteristics for 25 electric generator types. The following report represents S&L’s findings. A separate EIA report, “Addendum: Updated Capital Cost and Performance Characteristic Estimates for Utility Scale Electricity Generating Plants in the Electricity Market Module (EMM) of the National Energy Modeling System (NEMS),” details subsequent updates to the EMM module. The following report was accepted by EIA in fulfillment of contract number 89303019-CEI00022. All views expressed in this report are solely those of the contractor and acceptance of the report in fulfillment of contractual obligations does not imply agreement with nor endorsement of the findings contained therein. Responsibility for accuracy of the information contained in this report lies with the contractor. Although intended to be used to inform the updating of EIA’s EMM module of NEMS, EIA is not obligated to modify any of its models or data in accordance with the findings of this report. U.S. Energy Information Administration | Capital Costs and Performance Characteristics for Utility Scale Power Generating Technologies 1 Capital Cost Study Cost and Performance Estimates for New Utility-Scale Electric Power Generating Technologies Prepared for U.S. Energy Information Administration, an agency of the U.S. Department of Energy FINAL REPORT | DECEMBER 2019 Contract No. 89303019CEI00022 SL-014940 | Project No. 13651.005 LEGAL NOTICE This report (“Deliverable”) was prepared by Sargent & Lundy, L.L.C. (“Sargent & Lundy”), expressly for the sole use of the U.S. Department of Energy – Energy Information Administration (“Client”) in accordance with the agreement between Sargent & Lundy and the Client. This Deliverable was prepared using the degree of skill and care ordinarily exercised by engineers practicing under similar circumstances. Client acknowledges: (1) Sargent & Lundy prepared this Deliverable subject to the particular scope limitations, budgetary and time constraints, and business objectives of the Client; (2) information and data provided by others may not have been independently verified by Sargent & Lundy; and (3) the information and data contained in this Deliverable are time sensitive and changes in the data, applicable codes, standards, and acceptable engineering practices may invalidate the findings of this Deliverable. Any use or reliance upon this Deliverable by third parties shall be at their sole risk. Cost & Performance Estimates for New Utility-Scale Electric Power Generating Technologies Project 13651.005 Sargent & Lundy is one of the oldest and most experienced full-service architect engineering firms in the world. Founded in 1891, the firm is a global leader in power and energy with expertise in grid modernization, renewable energy, energy storage, nuclear power, and fossil fuels. Sargent & Lundy delivers comprehensive project services—from consulting, design, and implementation to construction management, commissioning, and operations/maintenance—with an emphasis on quality and safety. The firm serves public and private sector clients in the power and energy, gas distribution, industrial, and government sectors. 55 East Monroe Street • Chicago, IL 60603-5780 USA • 312-269-2000 Cost & Performance Estimates for New Utility-Scale Electric Power Generating Technologies Project 13651.005 i SL-014940 Version Log Final - Rev. 1 VERSION LOG Version Issue Date Draft June 14, 2019 Interim Final Report August 6, 2019 Final August 30, 2019 Final – Rev 1. December 9, 2019 Cost & Performance Estimates for New Utility-Scale Electric Power Generating Technologies Project 13651.005 ii SL-014940 Content Final - Rev. 1 CONTENT INTRODUCTION ............................................................................................................. I Cost & Performance of Technologies .......................................................................................................... I Cost & Performance Estimates Summary .................................................................................................. II BASIS OF ESTIMATES .................................................................................................. VI Base Fuel Selection .................................................................................................................................... VI Environmental Compliance Basis ............................................................................................................VII Combustion Turbine Capacity Adjustments ............................................................................................VII Capital Cost Estimating .......................................................................................................................... VIII Locational Adjustments ....................................................................................................................... X Environmental Location Factors ......................................................................................................... X Additional Location Factor Considerations...................................................................................... XII Operating & Maintenance Cost Estimating ............................................................................................ XII Fixed O&M ........................................................................................................................................ XIII Variable O&M ................................................................................................................................... XIII CASE 1. ULTRA-SUPERCRITICAL COAL WITHOUT CO2 CAPTURE, 650 MW ........... 1-1 1.1 Case Description ............................................................................................................................ 1-1 Mechanical Equipment & Systems ......................................................................................... 1-3 Electrical & Control Systems ................................................................................................... 1-4 Offsite Requirements............................................................................................................... 1-4 1.2 Capital Cost Estimate .................................................................................................................... 1-5 1.3 O&M Cost Estimate ....................................................................................................................... 1-7 1.4 Environmental & Emissions Information .................................................................................... 1-8 CASE 2. ULTRA-SUPERCRITICAL COAL WITH 30% CO2 CAPTURE, 650 MW ........... 2-1 2.1 Case Description ............................................................................................................................ 2-1 Mechanical Equipment & Systems ......................................................................................... 2-1 Cost & Performance Estimates for New Utility-Scale Electric Power Generating Technologies Project 13651.005 iii SL-014940 Content Final - Rev. 1 CONTENT Electrical & Control Systems .................................................................................................. 2-4 Offsite Requirements.............................................................................................................. 2-4 2.2 Capital Cost Estimate ................................................................................................................... 2-5 2.3 O&M Cost Estimate .......................................................................................................................2 -7 2.4 Environmental & Emissions Information ................................................................................... 2-8 CASE 3. ULTRA-SUPERCRITICAL COAL WITH 90% CO2 CAPTURE, 650 MW ........... 3-1 3.1 Case Description ............................................................................................................................ 3-1 Mechanical Equipment & Systems ......................................................................................... 3-1 Electrical & Control Systems .................................................................................................. 3-4 Offsite Requirements.............................................................................................................. 3-4 3.2 Capital