The rate factor is used to easily adjust from specific capital cost to LCOE. As the specific capital cost does not depend on financing assumptions, reporting electric cost in terms of the specific capital cost is a more direct way to compare results than LCOE. Thus, we encourage the reporting of electric cost in terms of specific capital cost. For the Lazard financing assumptions of 9.6% WACC, 4.5% O&M cost fraction, 25 year financial lifetime, and 85% capacity factor, the rate factor is 20 x10 -6 hr -1 . So a geothermal power plant with a specific capital cost of 4 M$/MW e will have an LCOE of 80 $/MW e -h, using Lazard financing assumptions.