Report: 5 Key Solar Cost Trends to Watch | ENGIE Impact

5 Key Solar Cost Trends to Watch

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Renewable Energy
Solar Power
Decarbonization

Solar PPA prices jumped 40% last year. Will prices keep climbing?

Solar development costs had been steadily declining for the last decade until the trajectory was flipped on its head by COVID-19 supply chain constraints, demand surges, international trade tensions, and inflation.

In the last year alone, solar PPA prices jumped 40%. The question we hear from most organizations with renewable energy or emission reduction targets is, will these cost trends continue?

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In this analysis, Charles Benisch and Rick Margolin, Directors of Renewable Advisory at ENGIE Impact, shed light on solar energy’s five key cost drivers:

  1. Solar panels and inverters
  2. Structural balance of system (BOS) components
  3. Labor and construction costs
  4. Shipping
  5. Regulatory policies and impacts

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