Benchmark price of solar power generation

What are solar energy cost benchmarks?

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.

How is solar generation technology benchmarked?

Solar generation technologies are benchmarked by considering LCOE (Levelized Cost of Energy), carbon price index, cost analysis, and tail end risk analysis. The LCOE, carbon price index, and cost analysis are elements of the economic perspective used in the benchmarking approach for two different solar generation technologies.

How much does a solar panel cost?

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.

How to benchmark the solar energy harvest?

To benchmark the solar energy harvest, the economic viability of the solar energy PV and solar thermal system is considered. Two indices, LCOE (Levelized Cost of Energy) and CVaR (Conditional Value at Risk), are chosen for benchmarking. The global sensitivity of the two systems is observed using Monte Carlo Simulation. The proposed approach is divided into the following three steps: