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Capital cost (CapEx) Build cost per kW installed
$/kW
Capacity factor % of time at full output
%
Fixed O&M Annual operations & maintenance
$/kW-yr
Variable O&M Per MWh generated (0 for solar/wind)
$/MWh
Fuel cost 0 for solar/wind/hydro
$/MWh
Discount rate (WACC) Cost of capital — lower for low-risk markets
%
Plant lifetime Economic life
years
USD to INR exchange rate For ₹/kWh display
₹ per $
Your LCOE
— $/MWh
— ₹/kWh
Capital cost component—
Fixed O&M component—
Variable + Fuel—
Annual energy (per kW)—
Capital recovery factor—
Simplified model: This calculator uses a levelised cost formula with a fixed capital recovery factor. It does not model: tax credits, accelerated depreciation, residual value, inflation, degradation (for solar), or curtailment. For engineering-grade project finance, use a full discounted cash flow (DCF) model. All Lazard benchmark values are 2024 USA unsubsidised midpoints.
How LCOE is calculated
LCOE = (Annual capital cost + Annual fixed O&M) ÷ Annual energy generation + Variable O&M + Fuel cost per MWh.
The capital recovery factor (CRF) spreads the upfront capital cost over the plant lifetime at the discount rate:
CRF = r × (1 + r)ⁿ / [(1 + r)ⁿ − 1]
where r = annual discount rate (WACC), n = plant lifetime in years
LCOE = [CapEx × CRF + Fixed O&M] / (CF × 8,760) + VOM + Fuel
Units: CapEx in $/kW → divide by 1000 for $/W; CF = capacity factor (0–1); 8,760 = hours/year. Result in $/MWh.
Lazard 2024 reference benchmarks (USA, unsubsidised)
| Technology | LCOE low $/MWh | LCOE high $/MWh | Midpoint |
|---|---|---|---|
| Solar PV (utility) | $24 | $96 | $60 |
| Onshore wind | $27 | $73 | $50 |
| Geothermal | $60 | $90 | $75 |
| Natural gas (CCGT) | $60 | $100 | $80 |
| Coal (new) | $65 | $166 | $116 |
| Offshore wind (fixed) | $72 | $140 | $106 |
| Nuclear (new) | $141 | $221 | $181 |
| Nuclear (existing, extended life) | $30 | $60 | $45 |
Source: Lazard LCOE Analysis Version 17.0 (2024) · Unsubsidised · USA · 2024 USD