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Assessing system costs for power generation is essential for evaluating the economical aspect of energy resources. This paper examines traditional and renewable energy resources under uncertainty and variability of input variables. The levelized cost of electricity (LCOE) of each technology is computed using a global sensitivity analysis. A Monte Carlo approach is utilized to study the thermoeconomics of a variety of power generation methods in the United States: fossil fuel-based, nuclear, developed renewable, and emerging renewable energy resources. The results of this study demonstrate how uncertainties in input data can significantly influence the LCOE values. Power generation from well-developed energy technologies exhibit less variability in LCOE due to established capital costs, operating and maintenance costs, and power generation. On the contrary, emerging renewable energy technologies are subject to high uncertainties in both technical and economic performance, as expected for technologies in early stages of development. A scenario with carbon pricing in power generation is also carried out in the paper. The presence of carbon pricing significantly increases the LCOEs of fossil fuel technologies, and LCOEs of other technologies also experience significant changes when life-cycle carbon assessments are considered. Several cost reduction opportunities are discussed to guide the development of future energy conversion, especially from emerging renewable energy resources. [ABSTRACT FROM AUTHOR]

Energy demands, environmental impacts of energy conversion, and the depletion of fossil fuels are constant topics of discussion in the energy industry. Renewable energy technologies have been proposed for many years to address these concerns. However, the transformation from traditional methods of power generation, usually based on fossil fuels, to power generation based on renewable resources presents many challenges associated with emerging, or less established, technologies. This paper examines the role of renewable energy in the U.S. and its potential to meet current and future energy needs in a way that is technically and economically sound. Renewable energy technologies, ranging from well-developed and established to new and emerging technologies, are presented in terms of their technical potential, current state of the technology, potential for further growth, and economic potential. While renewable energy sources are abundant across the U.S., issues of dispatchability, variability, scalability, energy storage, geographic limitations, and investment costs are critical in determining future progress. The analysis in this paper can be used to guide the integration of renewable energy systems toward becoming a larger share of energy production. [ABSTRACT FROM AUTHOR]

Osmotic power with pressure retarded osmosis (PRO) is an emerging renewable energy option for locations where fresh water and salt water mix. Energy can be recovered from the salinity gradient between the solutions. This study provides a comprehensive feasibility analysis for a PRO power plant in a hypersaline environment. A sensitivity analysis investigates the effects of key technical and financial parameters on energy and economic performances. A case study is developed for the Great Salt Lake in Utah, USA (which has an average 24% salt concentration). A 25 MW PRO power plant is investigated to analyze the necessary components and their performances. With currently available technologies, the power plant would require 1.54 m 3 /s (24,410 GPM) fresh water flow rate and 3.08 m 3 /s (48,820 GPM) salt water flow rate. The net annual energy production is projected to be 154,249 MWh, with capital cost of $238.0 million, and operations and maintenance cost of $35.5 million per year. The levelized cost of electricity (LCOE) would be $0.2025/kWh, but further design improvements would reduce the LCOE to $0.1034/kWh. The high salinity of the Great Salt Lake is a critical factor toward making the osmotic power plant economically feasible. [ABSTRACT FROM AUTHOR]