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CAPACITY FACTORS For the years 2007-2021, the data from the IRENA Renewable Cost Database shows that the capacity factors of geothermal power plants typically range between 60% to more than 90%. Figure 6.3 shows the capacity factors of geothermal power plants by technology and project size. For the data in the IRENA Renewable Cost Database, the average capacity factor of geothermal plants using direct steam is around 85%, while the average for flash technologies is 82%. Binary geothermal power plants that harness lower temperature resources are expected to achieve an average capacity factor of 78%.30 LEVELISED COST OF ELECTRICITY The total installed costs, weighted-average cost of capital, economic lifetime and O&M costs of a geothermal plant determine its LCOE. Even more so than solar and wind technologies, geothermal power projects require continuous optimisation throughout the lifetime of the project, with sophisticated management of the reservoir and production wells to ensure output meets expectations. Figure 6.3 Capacity factors of geothermal power plants by technology and project size, 2007-2021 GEOTHERMAL 100% 80% 60% 40% 20% 0% 2007 2009 2011 Binary Direct steam Capacity (MW) 2013 Flash types 1 100 2015 2017 2019 2021 Enhanced Hybrid n.a. 200 ≥ 300 Source: IRENA Renewable Cost Database. 30 In terms of the efficiency of conversion of the primary energy content (heat) to electricity, geothermal power plants report a worldwide average of 12% efficiency, while the upper range is situated at 21% for a vapour dominated plant (Zarrouk, S.J. and H. Moon, 2014). 107 Capacity factorPDF Image | RENEWABLE POWER GENERATION COSTS IN 2019
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