Solar photovoltaic (PV) technologies have achieved various levels of commercialization since the initial deployment of crystalline silicon PV systems in the 1950s. As costs have decreased and government incentives and mandates have proliferated, applications now span off-grid and grid-connected homes, commercial buildings, and utility-scale ground-mounted systems. As solar PV continues to increase as a percentage of overall domestic and global electricity generation, integrated resource planners and project developers need accurate technical information, such as current costs and performance data, to support business decisions.
This report provides solar generation cost and performance information to guide generation planning and project feasibility studies for various solar energy technologies. Updated third-quarter 2021 cost and performance analyses are presented for several solar PV technologies including crystalline silicon, thin film, and bifacial modules and fixed-tilt and single-axis tracking mounting systems. The performance of each technology is assessed for eight locations that vary in solar resource availability and weather conditions. Capital and operation and maintenance cost estimates are broken down to show key equipment, labor, balance of plant, and soft cost components; installed costs are adjusted by location to reflect the effect of differences in labor costs, productivity rates, and other regional inputs. From these results, the nominal-dollar levelized cost of electricity for each technology in each location is calculated.