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The efficiency of a plant is the percentage of the total energy content of a power plant's fuel that is converted into electricity. The remaining energy is usually lost to the environment as heat unless it is used for district heating.
This is complicated by the fact that there are two different ways to measure the fuel energy input—LCV = Lower Calorific Value, which is the same as NCV = Net Calorific Value, or, HCV = Higher Calorific Value which is the same as GCV, Gross Calorific Value.
Depending on which convention is used, a differences of 10% in the apparent efficiency of a gas fired plant can arise, so it is very important to know which convention, HCV or LCV (NCV or GCV) is being used.
- Fuel efficiency
- Energy conversion efficiency
- Thermal efficiency
- Electrical efficiency
- Mechanical efficiency
- Cost of electricity by source
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