Levelized cost of electricity (LCOE) is a measure used to compare the lifetime costs of generating electricity from different sources, expressed in terms of cost per unit of energy, usually in dollars per megawatt-hour ($/MWh). It takes into account capital costs, operational and maintenance costs, fuel costs, and the expected output over the system's lifetime, providing a comprehensive metric for evaluating the economic viability of various energy technologies in hybrid renewable energy systems.
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