Note: Costs are expressed in constant 2024 US$ per watt. Global estimates are used before 2010; European market benchmarks thereafter due to limited data availability. Solar photovoltaic module prices refer to the cost of the solar panel itself, and do not include installation or other system components.
Several factors can influence the total cost of installing solar panels. These include: System Size – Larger systems can produce more energy but will naturally cost more to install. Type of Panels—Different types of solar panels, such as monocrystalline, polycrystalline, and thin-film, have varied costs and efficiencies.
Historical photovoltaic cost data between 1975 and 2003 has been taken from Nemet (2009), and between 2004 and 2009 from Farmer & Lafond (2016).
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.
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Solar photovoltaic module prices refer to the cost of the solar panel itself, and do not include installation or other system components. Prices are compiled from three sources: Nemet
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