Levelized cost of heat in the United Kingdom 2023-2030, by technology

Published by Statista Research Department, Nov 1, 2024

The levelized cost of heat (LCOH) in the United Kingdom is forecast to decrease for each technology by 2030. Heat pump under 100º Celsius had one of the lowest LCOH in 2023 at 72 euros per megawatt-hour thermal, and this figure is forecast to decrease to 45 euros by 2030. Heat pumps between 100 and 180º Celsius will have the second-cheapest LCOH by 2030, with a decrease from 117 in 2023 to 68 euros per megawatt-hour thermal.

Levelized cost of heat in the United Kingdom in 2023, with a forecast for 2030, by technology (in euros per megawatt-hour thermal)

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Release date

February 2024

Region

United Kingdom

Survey time period

2023

Special properties

*Refers to solid state thermal energy storage which was commercially available as of 2023 and considers the wholesale price for cheapest hours.

Supplementary notes

The figure refers to generalized levelized cost of heat.

Current subsidies schemes, changes in fees and taxes, and balancing costs are not included. 

Technologies associated with batteries include battery energy storage of 10 hours.

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