U.S. Solar Photovoltaic System and Energy Storage Cost ...

Solar Photovoltaic System and Energy Storage cost Benchmark: Q1 2020 David Feldman, Vignesh Ramasamy, Ran Fu, Ashwin Ramdas, Jal Desai, and Robert MargolisJanuary 2021 NREL | 2 Introduction and Key Definitions Overall model Outputs Market Study and model Inputs model Output: Residential PV model Output: Commercial PV model Output: Utility-Scale PV Residential PV-Plus- Storage Commercial PV-Plus- Storage Utility-Scale PV-Plus- Storage ConclusionsIntroductionContentsNREL | 3 NREL has been modeling Solar Photovoltaic (PV) System costs since 2009. This year, our report benchmarks costs of PV for residential, commercial, and utility-scale systems, with and without Storage , built in the first quarter of 2020 (Q1 2020). Our benchmarking method includes bottom-up accounting for all necessary System and project-development costs incurred when installing residential, commercial, and utility-scale systems, and it models the Q1 2019 and Q1 2020 costs for such systems, excluding any previous supply agreements or contracts.

2. Cost categories are aggregated for comparison purposes. “Soft Costs – Others” represent PII; land acquisition; sales tax; and EP C/developer overhead and net profit. 3. The current versions of our cost models make a few significant changes from the versions used in our Q1 2018 benchmark report (Fu, Feldman, and

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