GridLab, Energy Futures Group, Component Reliability Consultants, and Halcyon have collaborated to collect and analyze publicly available gas turbine project cost data from across the U.S. Their findings show that for a new Combined Cycle Gas Turbine (CCGT) with an expected in-service date of 2030, the capital cost is projected to exceed $2,000 per kW.
As demand for turbines, engineering, procurement, and construction (EPC) services, along with other inputs for gas projects, continues to rise, overall project costs are expected to increase further. This growing competition for resources also raises the bar for cost accuracy in utility commission approvals. In many cases, projects are submitted for commission approval without finalizing key costs, such as EPC contracts, leaving commissions with incomplete information on which to base their decisions.
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