Solar photovoltaic panel prices
Solar photovoltaic panel prices Average price of solar modules, expressed in US dollars per watt, adjusted for inflation.
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.
If we forecast pricing to 2030, it is expected that the price of Solar energy will fall another 30% from 2020 pricing, and the cost of wind power should fall another 11% from 2020 pricing as well. Meanwhile, the cost of Nuclear, Coal and Gas is expected to increase during the same time period.
Average price of solar modules, expressed in US dollars per watt, adjusted for inflation. Data source: IRENA (2025); Nemet (2009); Farmer and Lafond (2016) – Learn more about this data Note: Costs are expressed in constant 2024 US$ per watt.
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.
Solar photovoltaic panel prices Average price of solar modules, expressed in US dollars per watt, adjusted for inflation.
The IRENA''s new report “Renewable Energy Power Generation Costs in 2024” states that 91% of renewable energy sources that began operation in 2024 are supplying electricity at lower
The cost of renewable energy has reached a historic tipping point in 2025, with solar and wind power now representing the cheapest sources of electricity generation in most regions
Table 1 includes our estimates of development and installation costs for various generating technologies used in the electric power sector. Typical generating technologies for end
This chart shows the levelized cost of energy generation by source (in U.S. dollar per MWh).
The International Renewable Energy Agency (IRENA) has released its Renewable Power Generation Costs in 2024 report, confirming that renewables remain the most cost
Solar Installed System Cost Analysis NLR analyzes the total costs associated with installing photovoltaic (PV) systems for residential rooftop, commercial rooftop, and utility-scale
The U.S. Department of Energy''s solar office and its national laboratory partners analyze cost data for U.S. solar photovoltaic systems to develop cost benchmarks to measure progress
Solar power has become significantly cheaper than gas energy, and forecasts indicate further price drops for solar and wind energy by 2030.
Total installed costs for renewable power decreased by more than 10% for all technologies between 2023 and 2024, except for offshore wind, where they remained relatively stable, and bioenergy,
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