Solar Industry Update

$3,500 $3,000 NREL Bottom-Up Cost Modeling: Q1 2023 Installed Cost Benchmarks Q1-2023 PV only $/kWdc (2022 USD) Modeled market price (MMP) benchmarks are significantly higher than minimum sustainable price (MSP) benchmarks for PV-only and PV-plus- storage systems, indicating significant inflationary market and policy distortion in Q1 2023. Q1-2023 PV + ESS $/kWdc (2022 USD) $2,682 15% $2,500 $2,335 $2,000 $1,460 $1,383 $1,500 $1,761 $1,489 18% $5,000 $4,702 21% $4,000 $3,877 $2,434 $2,944 $3,000 $2,249 26% $2,329 $1,379 $2,106 $333 $609 Soft Costs $1,196 $1.646 28% $288) $547 EBOS $272 $208 $176 $171 $270 SBOS $996 $174 $137 $146 $1,000 $145) $624 $764 $138 5764 ☑ESS XXXXX चालत $525 $525 $314 Inverter $187 محد 536 عصر $274 $338 $49 $372 اثر گاه کره بان $253 $35 5253 548 $372 Module $977 $1,161 $2,000 $1,000 $333 $973 $894 19% $434 $272 $237 $408 $208 $176 $219 $174 $500 $146 $314 $154 $128 $187 $132 $129 $49 $48 $36 $35 $274 $338 $372 $372 $253 $253 MSP MMP Residential PV 8 kW dc MSP MMP Community PV MSP MMP Utility PV 3 MWdc 100 MWdc MSP MMP Residential PV + ESS 8 kW + 5kW/12.5kWh MSP MMP Community PV + ESS 3 MW +1.8MW/7.2MWh MSP MMP Utility PV + ESS 100 MW +60MW/240MWh Source: Ramasamy et al. 2023. U.S. Solar Photovoltaic System and Energy Storage Cost Benchmarks, With Minimum Sustainable Price Analysis: Q1 2023 NREL 24

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