Solar Photovoltaic System Cost Benchmarks
All costs reported are represented two ways: Minimum Sustainable Price (MSP) and Modeled Market Price (MMP).
All costs reported are represented two ways: Minimum Sustainable Price (MSP) and Modeled Market Price (MMP).
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Basic models can start from around $1,000 while more advanced systems may exceed $5,000 or more, depending on the specifications and features integrated into the
All costs reported are represented two ways: Minimum Sustainable Price (MSP) and Modeled Market Price (MMP).
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Basic models can start from around $1,000 while more advanced systems may exceed $5,000 or more, depending on the
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The representative residential PV system (RPV) for 2024 has a rating of 8 kW dc (the sum of the system’s module ratings). Each module has an area (with frame) of 1.9 m 2 and a rated power of 400 watts, corresponding to an efficiency of 21.1%.
These benchmarks help measure progress toward goals for reducing solar electricity costs and guide SETO research and development programs. Read more to find out how these cost benchmarks are modeled and download the data and cost modeling program below.
The total cost over the service life of the system is amortized to give a levelized cost per year. In the PV System Cost Model (PVSCM), the owner’s overnight capital expense (cash cost) for an installed PV system is divided into eight categories, which are the same for the utility-scale, commercial, and residential PV market segments:
The aluminum rails and module clamps are imported from China and subject to 25% tariff. Each module is paired with a microinverter rated at 330 W ac, giving the PV system a rated AC power output of 6.6 kW ac, which corresponds to an inverter loading ratio of 1.22.