*Figures as of October 2020 adjusted for inflation. Nuclear LCOE includes estimated costs of Vogtle Plant as of 2020. Coal LCOE excludes transportation and storage.
Supplementary notes
These pricing estimates are based on underlying assumptions of 60 percent debt made with eight percent interest rate and 40 percent equity at 12 percent cost for all energy generation types.
According to the source, the fuel cost assumptions are as follows:Â
gas-fired generation at 3.45 U.S. dollars per million British thermal unit
coal-fired generation at 1.47 U.S. dollars per million British thermal unit
nuclear generation at 0.85 U.S. dollars per million British thermal unit
Citation formats
Levelized cost of energy in the U.S. 2025, by source
Gas peaking and nuclear power had the highest unsubsidized levelized costs of energy (LCOE) generation in the United States in 2025. Their LCOE averaged around ***and ***U.S. dollars per megawatt-hour, respectively. The high upfront capital costs for the construction of nuclear plants and the investment in gas infrastructure accounted for these figures.
LCOE for solar PV
Levelized cost of electricity or energy generation (LCOE) is a measure used to compare cost efficiency of different electricity-generating technologies. It describes the average expense of building and maintaining a power plant divided by its total power output over the facility’s lifetime. The global levelized cost of electricity for solar PV averaged **** U.S. dollars per kilowatt-hour in 2024. The economic viability of solar PV installations is dependent on factors largely centering around topography and the predominant weather pattern at the installation site. In regions with high sunshine duration, installing solar PV would come with lower LCOE’s as electricity production may be higher. As countries may stretch across highly variable topography and even across climate zones, solar PV LCOE may also vary greatly within a country. The U.S. has some of the lowest LCOE’s for utility-scale solar PV.Â
Capital costs by energy technology
In terms of capital costs – the one-time expense arising from the purchase of land, construction material, and building of the power plant for new power plants expected to come live in 2030, battery storage systems are the most expensive in the United States. They had an estimated levelized capital costs of roughly **** U.S. dollars per megawatt-hour as of April 2025. Nuclear energy and combustion turbines followed, while capital costs for solar PV are comparatively low.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how ÌÇÐÄÆƽâ°æ can support your business.
Lazard. (June 19, 2025). Estimated unsubsidized levelized costs of energy generation in the United States as of June 2025, by technology (in U.S. dollars per megawatt-hour) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 28, 2026, from /statistics/493797/estimated-levelized-cost-of-energy-generation-in-the-us-by-technology/
Lazard. "Estimated unsubsidized levelized costs of energy generation in the United States as of June 2025, by technology (in U.S. dollars per megawatt-hour)." Chart. June 19, 2025. ÌÇÐÄÆƽâ°æ. Accessed July 28, 2026. /statistics/493797/estimated-levelized-cost-of-energy-generation-in-the-us-by-technology/
Lazard. (2025). Estimated unsubsidized levelized costs of energy generation in the United States as of June 2025, by technology (in U.S. dollars per megawatt-hour). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 28, 2026. /statistics/493797/estimated-levelized-cost-of-energy-generation-in-the-us-by-technology/
Lazard. "Estimated Unsubsidized Levelized Costs of Energy Generation in The United States as of June 2025, by Technology (in U.S. Dollars per Megawatt-hour)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 19 Jun 2025, /statistics/493797/estimated-levelized-cost-of-energy-generation-in-the-us-by-technology/
Lazard, Estimated unsubsidized levelized costs of energy generation in the United States as of June 2025, by technology (in U.S. dollars per megawatt-hour) ÌÇÐÄÆƽâ°æ, /statistics/493797/estimated-levelized-cost-of-energy-generation-in-the-us-by-technology/ (last visited July 28, 2026)
Estimated unsubsidized levelized costs of energy generation in the United States as of June 2025, by technology (in U.S. dollars per megawatt-hour) [Graph], Lazard, June 19, 2025. [Online]. Available: /statistics/493797/estimated-levelized-cost-of-energy-generation-in-the-us-by-technology/
