Which of the following is a characteristic of levelized cost of energy (LCOE)?
1. It is the minimum amount of power that can be produced per dollar over the lifetime of a power-generating project.
2. It is the maximum amount of power that can be produced per dollar over the lifetime of a power-generating project.
3. It is the minimum price per kWh at which electricity must be sold in order to break even over the lifetime of a power-generating project.
4. It is the maximum price per kWh at which electricity must be sold in order to break even over the lifetime of a power-generating project.