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7.0 Project and Levelized Costs of Electricity For completeness, each area estimate was produced independently so that design and operational considerations could be applied where appropriate. For example, the estimate includes costs for sparing on single point of failure pieces of equipment and pumps such as the hydraulic turbine and the geothermal reinjection pump, as well as cost adders for both electrical components and instrumentation of those critical pieces. This would be an expected practice in the construction and operation of this type of facility, and is therefore included in the cost estimate. In this manner, each area estimate was developed to account for operations and process considerations specific to that unit operation. Unit areas and the direct cost line items for material and labor are included in Table 7.1. Table 7.1. Plant Cost Areas and Total Direct Cost Line Items Direct Cost Areas Air Compression and Injection Power and Recovery Balance of Plant Well Workovers Direct Cost Line Items Equipment and Setting Electrical Insulation Piping Civil Structural Steel Instrumentation Paint In addition to area-level direct costs, project-level indirect costs were included as a percentage of direct costs. These line items included engineering, contingency, home office, freight and taxes, and contractor fees, and profit. Combined, indirect costs add 57% to the direct costs, and were uniformly applied to the combined direct cost categories geothermal wells and CAES reservoir development as well. Table 7.2 includes direct, indirect, and total project costs for GT-CAES plant modeled, including the development costs for geothermal well workovers and other necessary balance of plant items. 28PDF Image | Geothermally Well Based Compressed Air Energy Storage
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