These benchmarks help measure progress toward goals for reducing solar electricity costs and guide SETO research and development programs. Read more to find out how these cost benchmarks are modeled and download the data and cost modeling program below.
The benchmarks are bottom-up cost estimates of all major inputs to typical PV and energy storage system configurations and installation practices. Bottom-up costs are based on national averages and do not necessarily represent typical costs in all local markets.
By muting the impacts of policy distortions and short-term market fluctuations, the new minimum sustainable price (MSP) benchmarks provide an effective basis for long-term PV cost analysis. However, they do not represent dynamic market conditions and should not be used for near-term policy or market analysis.
The representative residential PV system (RPV) for 2024 has a rating of 8 kW dc (the sum of the system's module ratings). Each module has an area (with frame) of 1.9 m 2 and a rated power of 400 watts, corresponding to an efficiency of 21.1%.
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