Common building prices for US utility-scale photo voltaic PV installations continued to drop in 2020, analysis from the US Vitality Data Administration (EIA) has stated, while onshore wind and pure fuel prices rose.
The EIA experiences that the capability weighted common value of photo voltaic PV methods fell 8% compared with 2019, to US$1,655/kW. The lower was largely pushed by a 17% drop within the building value for cadmium telluride monitoring modules, hitting US$1,631/kW at their lowest level. Crystalline silicon fixed-tilt modules remained the costliest main photo voltaic know-how, although these additionally noticed a 13% value discount to US$1,957/kW.
Monitoring methods have been cheaper than fixed-tilt modules throughout the board. Crystalline silicon monitoring methods, which accounted for 61% of utility-scale US photo voltaic capability added to the grid in 2020, averaged US$1,578/kW, making them cheaper than their fixed-tilt different by nearly US$400/kW, and cheaper than each cadmium telluride monitoring and fixed-tilt models.
Although the EIA’s report says that US utility-scale photo voltaic building prices have been considerably increased than each onshore wind and pure fuel, by 2020 the value had dropped dramatically.
Costs continued their downward pattern final 12 months, with research by Wood-Mackenzie indicating that, although 2021 noticed a slight rise in residential and industrial PV costs, utility-scale installations dropped beneath the 2020 value to US$0.93/W(US$930/kW).
Between 2019 and 2020, onshore wind and pure fuel building prices rose 8% and 4% respectively compared with 2019 costs, in keeping with the EIA Certainly, latest world value spikes have pushed fuel costs within the succeeding two years to astronomical highs, and even once they stabilise the worldwide developments in direction of cheaper photo voltaic PV and dearer fuel will see fuel vegetation battle to compete within the vitality panorama within the US and in Europe, as reported in PV Tech final week.
Current points with module procurement noticed US photo voltaic deployments fall 23% in Q3 of 2022, however the lately launched US$369 billion Inflation Discount Act with its tax credit for US-manufactured photo voltaic is predicted to start taking severe impact in 2024, and can seemingly proceed to decrease building and manufacturing prices within the nation.
