Gas combined-cycle CAPEX in the U.S. 2025-2050

The capital expenditure of a typical natural gas combined-cycle power plant was expected to amount to 1,463 U.S. dollars per kilowatt in 2025, but is estimated to decrease to 1,191 U.S. dollars per kilowatt by 2050. This is according to a 2024 forecast. Capital expenditure (CAPEX) of the power plant refers to the amount that needs to be spent to achieve commercial operation within that year. 

Natural gas power plant functionalities

In a conventional gas-fired combustion turbine, air is compressed and fed into a combustion chamber at extremely high speeds. Within the combustion system, the air is mixed with fuel and is then ignited resulting in a high-temperature and high-pressure gas stream that enters and expands through the turbine, rotating the blades to spin a generator to produce electricity. In comparison, a combined-cycle natural gas turbine uses a heat recovery steam generator that converts that hot exhaust from the turbine to generate steam. This could generate additional electricity through a steam turbine. The cost of constructing a combined-cycle natural gas turbine are around 722 U.S. dollars per kilowatt.

Costs for natural gas plants with CCS

In comparison to regular combined cycle power plants, those with carbon capture and storage (CCS) functions are noticeably more expensive. Capital costs for such power plants may be nearly twice as high as for a regular power plant.