US utility-scale solar cost seen falling to USD 0.7/Wdc in 2022

Solar park in US equipped with Soltec's SF Utility trackers: Author: Soltec

May 18 (Renewables Now) - An average annual decrease of 7% in the installation cost per watt in direct current (Wdc) is expected between 2017 and 2022 for US utility-scale fixed-tilt solar projects.

According to an overview of solar pricing trends by GTM research, between 2012 and 2017 US utility-scale solar costs contracted by an average of 12% annually. Last year the cost per Wdc arrived at USD 1.01 (EUR 0.87), down from USD 1.93/Wdc in 2012. It is to fall further to USD 0.7/Wdc in 2022, based on a forecast by the market research firm.

The average selling price (ASPs) for Chinese Tier 1 crystalline silicon photovoltaic (PV) modules have been on the slide for years, plunging from USD 0.66 per Wp in the second quarter of 2013 to USD 0.37/Wp in the same quarter of 2017. Despite a slight uptick in 2017 due to strong demand in China and tariff uncertainty, ASPs are expected to keep falling by 2023, reaching USD 0.23/Wp under GTM’s base case scenario.

The outlook on PV system prices was presented at Solar Summit by GTM Research's Scott Moskowitz.

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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