Tuesday, March 19, 2013

Faucet Parity


kWh/kWp Euro/kWp Interest Rate Loan Term DR LCOE NG Price EF Ratio




Austria
900 2200 6 10 6 0.21 0.08 2.7

Belgium
850 2400 6 10 6 0.25 0.07 3.4

Denmark
800* 2400 6 10 6 0.26 0.11 2.3

France
1000 2400* 6 10 6 0.21 0.07 2.9

Germany
900 1500 3 10 4.5 0.10 0.07 1.4

Greece
1300 2600* 10 10 10 0.24 0.08 3.0

Ireland
750 2600* 8 10 8 0.36 0.07 5.1

Italy
1200 2200* 6 10 6 0.15 0.09 1.6

Luxembourg
1000* 2600* 6 10 6 0.22 0.07 3.2

Netherlands
800 1900 6 10 6 0.21 0.07 3.0

Portugal
1350 2200* 8 10 8 0.17 0.08 2.0

Spain
1300 2200* 8 10 8 0.18 0.07 2.4

Sweden
800 2100* 6 10 6 0.23 0.20 1.1

U.K.
850 1900 6 10 6 0.20 0.06 3.3

Here's a rough sketch of how the photoelectric LCOEs stack up between European countries. The Interest rates and Discount rates are very rough estimates that I hope are on the conservative side. All the remaining values are either sourced or educated guesses.

On the far right of the table there's a column labeled EF Ratio - this is the electricity to fuel price ratio. In a previous post I compared the EF ratio of retail electricity in Europe vs. natural gas prices - this table is a photoelectric version of that table comparing the levelized cost of photoelectricity to the retail price of natural gas.

The EF Ratio provides a guideline of what a heat pump's Coefficient of Performance (COP) would need to be to economically justify using photoelectricity to displace natural gas. Average COPs range from 2 to 3 so this puts most of these countries in the table at or near Faucet Parity - i.e. It would be cheaper to make hot water with photoelectricity and a heat pump than with natural gas.




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