The full use of economic incentives becomes a complex process for investors, which reduce interest in the construction of electricity generation projects using Non-Conventional Renewable Energy Sources (NCRES).Thereby, it is necessary to establish investment methodologies that allow defining the most appropriate generation technologies with competitive costs.Therefore, an adjusted methodology of Levelized Cost of Electricity (LCOE) is proposed in this article to evaluate the potential effects of the current economic incentives on the generation costs of NCRES.It will serve as a tool to assess technical and financial viability of projects from different renewable energy sources (solar, biomass and wind), as well as define different investment strategies in order to take full advantage of current economic incentives.Finally, three solar photovoltaic plants were analyzed under seven investment scenarios, achieving a LCOE between 8.4 ¢USD/kWh and 32.3 ¢USD/kWh.