DOE OSTI2021
Based on our bottom-up modeling, the Q1 2021 PV and energy storage cost benchmarks are: $\$2.65$ per watt DC (WDC) (or $\$3.05$/WAC) for residential PV systems, 1.56/WDC (or $\$1.79$/WAC) for commercial rooftop PV systems, $\$1.64$/WDC (or $\$1.88$/WAC) for commercial ground-mount PV systems, $\$0.83$/WDC (or $\$1.13$/WAC) for fixed-tilt utility-scale PV systems, $\$0.89$/WDC (or $\$1.20$/WAC) for one-axis-tracking utility-scale PV systems, $\$30,326$-$\$33,618$ for a 7.15-kWDC residential PV system with 5 kW/12.5 kWh nameplate of storage, $\$2.04$ - $\$2.10$ million for a 1-MWDC commercial ground-mount PV system colocated with 600 kW/2.4 MWhusable of storage, $\$166$ - $\$167$ million for a 100-MWDC one-axis tracker PV system colocated with 60 MW/240 MWhusable of storage. Between 2020 and 2021, there were 3.3% ($\$0.0$9/W), 10.7% ($\$0.19$/W), and 12.3% ($\$0.13$/W) reductions (in 2020 USD) in the residential, commercial rooftop, and utility-scale (one-axis) PV system cost benchmarks respectively. Balance of system (BOS) costs have either increased or remained flat across sectors, year-on-year, unlike in previous benchmark reports, which generally have reported declining BOS costs. The increase in BOS cost has been offset by a 17% reduction in module cost. Overall, modeled PV installed costs across the three sectors have declined compared to our Q1 2020 system costs.