IEEE 2814-2025

This recommended practice describes the techno-economic terminologies used in the construction and operation of low-carbon energy generation and energy storage systems. The scope addresses how to perform techno-economic analysis for grid power generators and energy storage systems. The recommended practice defines a set of cost and finance metrics to benchmark and evaluate the techno-economic performance of energy systems. Energy storage systems providing backup power are not within the scope.

There are no consistent definitions of the techno-economic terms that have arisen in the evolution of low-carbon energy generation and energy storage systems. There is a need to define this techno-economic terminology so that stakeholders can use a common language when planning standards and for understanding published industrial and technical reports. This standard is intended to serve as a basic reference for policymakers, developers, and users of such systems, for planning industry standards, and for the interpretation of published technical and industrial reports.

New IEEE Standard - Active. Techno-economic terminologies used in the construction and operation of low-carbon power generation and energy storage systems are defined. Techno-economic terminologies lack consistent definitions in today’s evolving low-carbon power generation and electrical energy storage. Stakeholders will be supported in using a common language when planning standards and for understanding published industrial and technical reports.