The capital costs for new gas combustion turbine (CT) and combined cycle gas turbine (CCGT) power plants in the United States have increased significantly in recent years.

While anecdotes of these higher costs are becoming more common, the specific data is often difficult to access. Much of the most current and detailed market information on gas turbine costs is contained within Integrated Resource Plans (IRPs) and Certificates of Public Convenience and Necessity (CPCNs), which are often confidential. Furthermore, widely available public datasets, such as the National Renewable Energy Laboratory’s (NREL) Annual Technology Baseline (ATB) or the Energy Information Administration’s (EIA) Annual Energy Outlook (AEO), are often not up to date with the most current market information and therefore present an underestimated view of project costs.

With these challenges in mind, this white paper, in collaboration with GridLab experts Energy Futures Group and Halcyon, have worked to mine and make available market data from IRP and CPCN filings, providing a clearer and more accurate picture for stakeholders. Halcyon provided data from its platform, which was reviewed and analyzed by EFG. Mr. Philip Besuner, also a GridLab expert, executed several regression analyses to evaluate trends from this data.