Are new solar projects worth more?

Newer solar projects had greater market value in 2023 than their generation costs, yielding $1.1 billion in benefits. Projects built in 2022 delivered on average $15/MWh more market value than their costs in 2023.

What is solar energy cost analysis?

Solar energy cost analysis examines hardware and non-hardware (soft) manufacturing and installation costs, including the effect of policy and market impacts. Solar energy data analysis examines a wide range of issues such as solar adoption trends and the performance and reliability of solar energy generation facilities.

When should a solar project be completed?

Evaluating the site and economic feasibility of a solar project is an essential step in the development process and should be completed in the initial stages, prior to preparing a system design, entering into contracts, or purchasing equipment.

What is NREL's solar-plus-storage cost benchmarking work?

This work has grown to include cost models for solar-plus-storage systems. NREL's PV cost benchmarking work uses a bottom-up approach. First, analysts create a set of steps required for system installation.

Where can I find information about solar energy research?

To view specific cost and data analysis projects, search the Solar Energy Research Database. Learn more about solar manufacturing and competitiveness research and soft costs research, other solar energy research in SETO, and current and former funding programs.

Are solar projects worth more than MWh in 2023?

Projects built in 2022 delivered on average $15/MWh more market value than their costs in 2023. Solar’s combined value from wholesale electricity markets, public health and climate damage reduction were greater than generation costs and incentives, yielding $13.7 billion in net benefits in 2023.