Calculation of electricity generation costs fromrenewable energy sources

Electricity consumption in the world is increasing every year, technological developments and industrialization are important factors in this increase. The importance of alternative energy sources is becoming more and more intense every day in order to meet the electricity demand. The possibility of the depletion of fossil resources and the damage they have caused to the environment have accelerated the use of renewable energy resources, the investment costs of renewable energy sources as well as the cost and calculation of electricity production have become increasingly important and efforts have been made to reduce these costs. The possibility of depletion of fossile resources in the 2050s has accelerated the trend towards renewable energy sources. Along with the developing technology, the electricity production costs also decreased. The use and spread of renewable energy sources not only provides energy supply security but also contributes to the national economy and brings environmental solutions. Considering the critical environmental pollution that has occurred in the last thirty years, it will be understood how important clean energy is. Air pollution is one of the biggest problems of environmental pollution. 98% of the carbon emissions are caused by the use of fossil fuels. Reducing the use of fossil fuels will reduce the rate of carbon dioxide and other toxic gases. Reducing the rate of carbon and harmful gases will only be possible through the use of renewable energy sources. Power plants that generate electricity from renewable energy sources have similar cost items as well as unique cost items. The geographical location and natural conditions have a significant impact on the decrease of the cost of electricity production of the renewable energy resources. The necessary attention to feasibility and R&D workings given by facilities using renewable energy sources, will have a profound impact on the decrease of the cost of electricity production. High electricity production costs are strongly affected by depreciation and financing costs. While the electricity generation costs of HEPP and WEP are close to each other, the production cost of SPP is higher. With the technological developments experienced in SPP production, an increase in electricity production quantities is expected while production costs will also decrease. The use of more renewable energy resources in the near future will take the place of fossil resources and capture the importance and value it needs as a clean and environmentally friendly energy. The incentive (USD-Cent) and the purchase guarantee for the spread of electricity-production from renewable energy sources must be well calculated. While excessive incentives harm the state economy, insufficient incentives and the lack of purchasing guarantees slow the development of renewable energy sources. Apart from electricity production, incentive payments for renewable energies in electricity sales operations are being provided by the companies that will carry out the sales transaction. The lack of good electricity generation estimations from renewable energy sources and the increase in Dollar exchange rate prevents the possibility of free electricity sales. Keywords: Renewable Energy, Electricity Production Cost, Hydroelectric Power Plant (HEPP), Wind Energy Plant (WEP), Solar Power Plant (SPP), Cost Of Electricity Service