The levelized cost of water (LCOW or LCW) is the "cost per unit volume of product water produced by a water treatment process or service".
LCW can refer to drinking water for human consumption or water for irrigation.
[1] The LCW varies with the method used to produce drinking water.
A 2020 study found that advances in decarbonization would reduce the levelized cost of water produced via desalination from €2.4 per cubic meter in 2015 (US$2.84) to €1.05 per cubic meter in 2050 (US$1.24).
[2] LCW of desalination also depends on the amount of saline that needs to be removed from water: The United States Department of Energy's 2018 grant guidelines suggested a target of $1.50/m3 for solar-thermal desalination of high-salinity water and a target of $0.50/m3 for low-salinity water such as sea water.