Market analysts routinely monitor and report the average cost of PV systems and components, but more detail is needed to understand the impact of recent and future technology developments on cost. Consequently, benchmark systems in the utility-scale, commercial, and residential PV market sectors are evaluated each year.
Our MMP benchmark for an 8-kWdc residential system with a 5-kW/12.5-kWh ESS ($4.70/Wdc) is 21% higher than our MSP benchmark ($3.88/Wdc) and 9% lower than its counterpart ($5.17/Wdc) in Q1 2022 in 2022 USD.
Feldman, David, Galen Barbose, Robert Margolis, Mark Bolinger, Donald Chung, Ran Fu, Joachim Seel, Carolyn Davidson, Naïm Darghouth, and Ryan Wiser. 2015. Photovoltaic System Pricing Trends: Historical, Recent, and Near-Term Projections: 2015 Edition.
Tariffs and subsidies are noted in the spreadsheet's comments column. PVSCM is implemented using an Excel spreadsheet. It collects the cost elements for each category, then sums the categories to obtain the system cost, for both MSP and MMP. Unit conversion multipliers are listed on a separate sheet labeled "Factors."
This approach is intended to allow any input parameter in the model to be varied by up to a factor of two (up or down) to assess its impact on cost. All costs reported are represented two ways: Minimum
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Prices jumped throughout the economy, with industry-specific events and trade policies driving up PV and battery prices in particular. Change happened rapidly and fell unevenly across stakeholders.
The National Renewable Energy Laboratory (NREL) publishes benchmark reports that disaggregate photovoltaic (PV) and energy storage (battery) system installation costs to inform SETO''s R&D
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