Utility-Scale Solar, 2024 Edition
Utility-scale (35%) and distributed (17%) solar accounted for a combined 52% of all capacity added to U.S. grids in 2023. It is the first year that solar made up more than half of new US
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.
Our operations and maintenance (O&M) analysis breaks costs into various categories and provides total annualized O&M costs. The MSP results for PV systems (in units of 2022 real USD/kWdc/yr) are $28.78 (residential), $39.83 (community solar), and $16.12 (utility-scale).
The current MSP benchmarks for PV systems in 2022 real USD are $28.78/kWdc/yr (residential), $39.83/kWdc/yr (community solar), and $16.12/kWdc/yr (utility-scale, single-axis tracking). For MMP, the current benchmarks are $30.36/kWdc/yr (residential), $40.51/kWdc/yr (community solar), and $16.58/kWdc/yr (utility-scale, single-axis tracking).
2023 ATB data for utility-scale solar photovoltaics (PV) are shown above, with a Base Year of 2021. The Base Year estimates rely on modeled capital expenditures (CAPEX) and operation and maintenance (O&M) cost estimates benchmarked with industry and historical data.
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