Cost estimate of small hydroelectric power plants based on the aspect factor

Hydroelectric power plants help to reduce greenhouse gas emissions, expand renewable energy generation, and distribute national energy generation. This is particularly true for small hydroelectric plants (SHPs). However, the development of SHPs is dependent on the economic and financial feasibility, which must be evaluated by cost estimates before starting construction. The parameterization of these costs with satisfactory precision can be difficult or even impossible due to the particularities a project or region. Thus, this study presents the aspect factor (AF), which is as a parameter based on the least squares method that represents the physical characteristics of a plant scheme. This factor was applied to determine the unit cost of SHP projects in Brazil and India. The results were evaluated using statistical tests. The cost estimate equations found in the literature were also revised and compared with the AF to characterize its applicability to other regions of the world.