U.S. Solar Photovoltaic System Cost Benchmarks for Q1 2024

The U.S. Department of Energy Solar Energy Technologies Office provides cost benchmarks for utility-scale, commercial, and residential photovoltaic systems. The data reports costs using intrinsic units per component and distinguishes between Minimum Sustainable Price and Modeled Market Price. These benchmarks are developed from industry surveys conducted by three national laboratories to guide research and development.

Use Cases

• Analyze the impact of system size and module efficiency on the Minimum Sustainable Price for residential PV systems.
• Compare Modeled Market Price against Minimum Sustainable Price for utility-scale PV components to identify market distortions.
• Assess cost structures for mounting structures using dollars per square meter to evaluate benefits of improved module efficiency.
• Model the effect of varying input parameters by a factor of two on the total cost per watt for commercial PV benchmark systems.

Strengths

• Data is produced by the authoritative U.S. Department of Energy Solar Energy Technologies Office and its national laboratory partners.
• Costs are reported using intrinsic units per component, enabling detailed analysis independent of power output.
• Benchmarks are defined for three distinct market sectors: utility-scale, commercial, and residential PV systems.
• Costs are represented in two distinct metrics, Minimum Sustainable Price and Modeled Market Price, for different planning horizons.

Limitations

• The dataset's temporal coverage is limited to Q1 2024, providing a snapshot rather than a time series.
• Specific sample size, row count, and granular data structure are not provided in the input.
• Data collection focuses on U.S. installations, limiting direct applicability to international markets.

Provenance

Source

U.S. Department of Energy Solar Energy Technologies Office (SETO)

Collection Method

Cost data collected from PV industry stakeholders via surveys conducted by Lawrence Berkeley National Laboratory, National Laboratory of the Rockies, and Sandia National Laboratories.

Time Range

Q1 2024

Freshness

Data reflects the first quarter of 2024 and was last updated on the platform in March 2026.

Geography

United States