Shoals Results Presentation Deck
REDUCING INSTALLATION COST IS CRITICAL
FOR CONTINUED COST REDUCTION IN SOLAR
Contribution of Equipment vs. Installation
to the Cost of a Solar Energy Project(¹)
9%
17%
74%
2015
Equipment Cost
Installation Cost
11%
29%
60%
2020
All Other
70%+
Increase in the
contribution of
installation to total
cost over past 5 years
Field labor has become one of the largest contributors to the cost
of building a solar energy project...
100
0
Hourly Wages For Field Labor vs. Total Installed
Cost of Utility Scale Solar
2010 2011 2012
Avg. Hourly Wages for Construction Workers(2)
© 2022 Shoals Technologies Group
Total Installed Cost of Solar(3)
2013 2014 2015 2016 2017 2018
...and hourly wages for construction workers are only rising
+20%
-78%
2019
(1) Wood Mackenzie H1 2020 U.S. Solar PV System Pricing, June 2020. Based on average construction cost for a 50 MW ground-mounted solar energy project using single-axis trackers in the U.S. Installation cost includes labor,
civil and EPC overhead and margin categories. Equipment costs include modules, inverter, mounting system and EBOS categories.
(2) Based on Bureau of Labor Statistics, Department of Labor annual mean wage data for 47-0000 Construction and Extraction Occupations.
(3) Installed cost of utility-scale solar using single-axis trackers per BloombergNEF 2H 2020 U.S. Renewable Energy Market Outlook, October 2020.
shoals
11View entire presentation