REPORT - Breaking down US residential PV-plus-battery cost
US researchers presented this week the first report with cost breakdowns for residential solar-plus-storage system and the plan is to update regularly the cost benchmarking so as to track progress in cost reduction.
The table below shows the total installed cost for residential photovoltaic (PV)-plus-storage systems in 2016 US dollars, according to the report by the Energy Department (DOE), its National Renewable Energy Laboratory (NREL), and the Rocky Mountain Institute.
Type of system
Cost in USD
5.6-kW PV + 3 kW/6 kWh battery, DC coupled
5.6-kW PV + 3 kW/6 kWh battery, AC coupled
5.6-kW PV + 5 kW/20 kWh battery, DC coupled
5.6-kW PV + 5 kW/20 kWh battery, AC coupled
These costs are for solar and storage systems installed at the same time. The cost for an AC coupled system with the smaller battery rises to USD 32,786 if the battery is added to an existing array.
The study shows that the combined PV module and battery cost for the systems, no matter if alternating current (AC)- or direct current (DC)-coupled, is nearly USD 6,600 and the rest comes from inverters, balance-of-system components, supply chain costs and various soft costs, which combined go into 13 categories. Hardware costs represent about half the total price of the modeled PV systems with 3 kW/6 kWh battery and about 60% for a system with the larger battery of 5-kW/20-kWh.