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OPERATION AND MAINTENANCE COSTS Annual O&M costs are often quoted as a percentage of the investment cost per kW per year. Typical values range from 1% to 4%. IRENA has previously collected O&M data on 25 projects (IRENA, 2018) and found an average O&M cost that was slightly less than 2% of total installed costs per year, with a variation of between 1% and 3% of total installed costs per year. Larger projects have O&M costs below the 2% average, while smaller projects approach the maximum, or are higher than the average O&M cost. Table 5.5 presents the cost distribution of individual O&M items in the sample. As can be seen, operations and salaries take the largest slices of the O&M budget. Maintenance varies from 20% to 61% of O&M costs, salaries from 13% to 74%, while materials are estimated to account for around 4% (Table 5.5). The International Energy Agency (IEA) assumes O&M costs of 2.2% for large hydropower projects and 2.2% to 3% for smaller projects, with a global average of around 2.5% (IEA, 2010). This would put large-scale hydropower plants in a similar range of O&M costs as a percentage of total installed costs as those for wind, although not as low as the O&M costs for solar PV. When a series of plants are installed along a river, centralised control, remote management and a dedicated operations team to manage the chain of stations can also reduce O&M costs to much lower levels. Other sources, however, quote lower or higher values. The Energy Information Agency (EIA) assumes 0.06% of total installed costs as fixed annual O&M and USD 0.003/kWh as variable O&M costs for a conventional hydropower plant of 500 MW commissioned in 2020 (EIA, 2017a). Other studies (EREC/Greenpeace, 2010) indicate that fixed O&M costs represent 4% of the total capital cost. This figure may represent small-scale hydropower, but large hydropower plants will have significantly lower O&M costs. An average value for O&M costs of 2% to 2.5% is considered the norm for large-scale projects (IPCC, 2011), which is equivalent to average costs of between USD 20/kW/year and USD 60/kW/year for the average project, by region, in the IRENA Renewable Cost Database. O&M costs usually include an allowance for the periodic refurbishment of mechanical and electrical equipment, such as turbine overhaul, generator rewinding and reinvestments in communication and control systems, but exclude major refurbishments of the electro-mechanical equipment, or the refurbishment of penstocks, tailraces, etc. Replacement of these is infrequent, with design lives of 30 years or more for electro- mechanical equipment and 50 years or more for penstocks and tailraces. This means that the original investment has been completely amortised by the time these investments need to be made, and therefore they are not included in the LCOE analysis presented here. They may, however, represent an economic opportunity before the full amortisation of the hydropower project, in order to boost generation output. Table 5.5 Hydropower project O&M costs by category from a sample of 25 projects HYDROPOWER Project Component Share of total O&M costs (%) Minimum Weighted average Maximum Operation costs 20 51 61 Salary 13 39 74 Other 5 16 28 Material 3 4 4 Source: IRENA Renewable Cost Database. 99PDF Image | RENEWABLE POWER GENERATION COSTS IN 2019
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