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The cost of one unit electricity generated is equal to the sum of the capital cost, operational and maintenance costs (O&M), fuel cost, and CO2 storage cost.

Solar and wind power


The costs of solar and wind power in the model are determined by learning and depletion dynamics. For renewable energy, costs relate to capital, O&M and system integration. The capital costs mostly relate to learning and depletion processes. Learning is represented by in learning curves ; depletion by long-term cost supply curves.