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IEEE Recommended Practice for Techno-Economic Metrics of Grid Power Generators and Energy Storage Systems
New IEEE Standard - Active.
Techno-economic terminologies used in the construction and operation of low-carbon power generation and energy storage systems are defined.
Techno-economic terminologies lack consistent definitions in today’s evolving low-carbon power generation and electrical energy storage.
Stakeholders will be supported in using a common language when planning standards and for understanding published industrial and technical reports.
This recommended practice describes the techno-economic terminologies used in the construction and operation of low-carbon energy generation and energy storage systems.
The scope addresses how to perform techno-economic analysis for grid power generators and energy storage systems.
The recommended practice defines a set of cost and finance metrics to benchmark and evaluate the techno-economic performance of energy systems.
Energy storage systems providing backup power are not within the scope.
There are no consistent definitions of the techno-economic terms that have arisen in the evolution of low-carbon energy generation and energy storage systems.
There is a need to define this techno-economic terminology so that stakeholders can use a common language when planning standards and for understanding published industrial and technical reports.
This standard is intended to serve as a basic reference for policymakers, developers, and users of such systems, for planning industry standards, and for the interpretation of published technical and industrial reports.
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