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Key 2020 US Solar PV Cost Trends and A Look Ahead

December 17, 2020

U.S. solar PV system costs fell across all market segments from 2019 to 2020 as module prices continued to drive system costs down. While shortages of glass and ethylene-vinyl acetate laminate caused solar module prices to increase at the end of 2020, module prices still fell on a year-over-year basis.

According to Wood Mackenzie’s recently released U.S. solar PV system price report, average 100-megawatt utility-scale system costs in 2020 are $0.94/W, with the potential to fall 19% by 2025 (all watt figures shown are DC). These costs will fall 13% from 2021 to 2022, driven by module price reduction as Section 201 tariffs are expected to phase out for imported products.

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