Your responsibilities
Industries need accurate estimates of future energy technology costs, including the Levelized Cost of Energy (LCOE) for PV, wind, and Battery Energy Storage Systems (BESS). Material costs significantly impact total project costs, and changes in these costs can affect the economic viability of renewable energy (RE) projects. This study aims to fill the gap in long-term material price projections and their impact on RE projects by providing CAPEX forecasts based on material cost predictions. The research will integrate material cost projections with established technology cost curves to enhance CAPEX estimates for RE investments and promote supply risk reduction measures. Future developments in RE technologies, including production advancements and new generations like perovskites, will also be considered.
- Collect historical data on material prices and compositions for PV, wind, and BESS
- Survey and select correlation models for material price and CAPEX relationships, including technology advancements
- Breakdown technology costs by categories such as labor, energy, raw materials, and processing
- Develop future scenarios for material supply and geopolitical issues to identify supply chain bottlenecks
- Analyze technology trends under different scenarios (BAU, Green World, Global Crisis, Local Crisis) and evaluate supply shortages and rerouting strategies
Expected Outcomes:
- Material price forecasts for PV, wind, and BESS utility-scale projects in Germany until 2050, with a focus on short-term (until 2030)
- Correlation analysis between CAPEX and material prices
- Implications for stakeholders, including policymakers, investors, and developers
Your profile
- Master’s student in Renewable Energy, Environmental Engineering, or a related field, with a strong academic focus on energy systems and technologies
- Solid understanding of renewable energy technologies, specifically PV, wind, and Battery Energy Storage Systems (BESS)
- Knowledge of Levelized Cost of Energy (LCOE) and Capital Expenditure (CAPEX) analysis, including the economic implications of material costs on renewable energy projects
- Proficiency in data analysis tools such as Excel and Python, with experience in regression analysis and system dynamics modeling to forecast trends and assess various scenarios
- Familiarity with material cost structures and their influence on the economics and viability of renewable energy technologies
- Experience in conducting comprehensive literature reviews, synthesizing research, and developing forecast models to predict long-term trends in energy technology costs
- Strong analytical skills with the ability to think critically about complex data and propose innovative solutions to challenges in the renewable energy sector