Quantifying Socioeconomic Impacts of Electricity Generating Technologies
- Idaho National Laboratory (INL), Idaho Falls, ID (United States)
- Oak Ridge National Laboratory (ORNL), Oak Ridge, TN (United States)
The levelized cost of energy (LCOE) and other cost metrics used in energy planning do not account for out-of-market impacts of the technology choice. While a decision-maker at the utility or asset owner level may compare multiple forms of electricity generating technology using LCOE, a decision-maker over energy policy or community stakeholders may be interested in considering impacts beyond those that LCOE measures. This report quantifies economic impacts such as jobs and wage growth across electricity generation technologies then develops an approach to systematically compare socioeconomic metrics across technology choices. To address additional workforce related impacts, this report also compares the typical workforce education requirements and annual income levels for multiple types of electricity generating facilities. The grid scale electricity generating technologies analyzed in this report produce power using conventional hydroelectric dams, coal, natural gas, nuclear reactors, solar PV, land-based wind turbines, geothermal heat, and woody biomass combustion. Although it doesn’t generate electricity itself, the economic impacts associated with battery storage equipment manufacturing and installation were also analyzed.
- Research Organization:
- Idaho National Laboratory (INL), Idaho Falls, ID (United States)
- Sponsoring Organization:
- USDOE
- DOE Contract Number:
- AC07-05ID14517
- OSTI ID:
- 2476483
- Report Number(s):
- INL/RPT-24-80621-Rev000
- Country of Publication:
- United States
- Language:
- English
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