Utility-Scale Solar, 2023 Edition: Empirical Trends in Deployment, Technology, Cost, Performance, PPA Pricing, and Value in the United States [Slides]
- Lawrence Berkeley National Laboratory (LBNL), Berkeley, CA (United States)
Berkeley Lab’s “Utility-Scale Solar, 2023 Edition” presents analysis of empirical plant-level data from the U.S. fleet of ground-mounted photovoltaic (PV), PV+battery, and concentrating solar-thermal power (CSP) plants with capacities exceeding 5 MWAC (PV plants of 5 MWAC or less, including residential rooftop systems, are covered separately in Berkeley Lab’s companion annual report, Tracking the Sun). Highlights of this year’s update include: -10.4 GWAC of new utility-scale PV capacity came online in 2022, bringing cumulative installed capacity to more than 61.7 GWAC across 46 states. -94% of all new utility-scale PV capacity added in 2022 uses single-axis tracking. -Median installed project costs declined to $$\$$1.32$/WAC (or $$\$$1.07$/WDC) in 2022. -Plant-level capacity factors vary widely, from 9% to 35% (on an AC basis), with a sample median of 24%. The report explores drivers of this variation. -Utility-scale PV’s LCOE fell to $$\$$39$/MWh in 2022 ($$\$$29$/MWh if factoring in the federal investment tax credit, or ITC). -PPA prices have largely followed the decline in solar’s LCOE over time, but have recently stagnated and even moved slightly higher. Prices from a sample of recent contracts average around $$\$$20-30$/MWh (levelized) in the West and $$\$$30-40$/MWh elsewhere in the continental US. -In 2022, solar’s average market value (defined in the report to include only energy and capacity value) rose by 40% to $$\$$71$/MWh and exceeded average wholesale prices in 4 of the 7 ISOs/RTOs and 11 of 18 other balancing authorities analyzed. -Adding battery storage is one way to increase the value of solar. Our public data file tracks metadata and PPA prices from ~100 PV+battery hybrid projects that are already online or that have secured offtake arrangements. -the end of 2022, there were at least 947 GW of utility-scale solar power capacity within the interconnection queues across the nation, 456 GW of which include batteries. For more information, and to explore related interactive data visualizations, go to utilityscalesolar.lbl.gov.
- Research Organization:
- Lawrence Berkeley National Laboratory (LBNL), Berkeley, CA (United States)
- Sponsoring Organization:
- USDOE Office of Energy Efficiency and Renewable Energy (EERE), Renewable Power Office. Solar Energy Technologies Office
- DOE Contract Number:
- AC02-05CH11231
- OSTI ID:
- 2007458
- Country of Publication:
- United States
- Language:
- English
Similar Records
Utility-Scale Solar, 2022 Edition: Empirical Trends in Deployment, Technology, Cost, Performance, PPA Pricing, and Value in the United States [Slides]
Utility-Scale Solar, 2024 Edition: Empirical Trends in Deployment, Technology, Cost, Performance, PPA Pricing, and Value in the United States [Slides]
Utility-Scale Solar, 2021 Edition: Empirical Trends in Deployment, Technology, Cost, Performance, PPA Pricing, and Value in the United States [Slides]
Technical Report
·
Thu Sep 01 00:00:00 EDT 2022
·
OSTI ID:1888246
Utility-Scale Solar, 2024 Edition: Empirical Trends in Deployment, Technology, Cost, Performance, PPA Pricing, and Value in the United States [Slides]
Technical Report
·
Tue Oct 01 00:00:00 EDT 2024
·
OSTI ID:2467433
Utility-Scale Solar, 2021 Edition: Empirical Trends in Deployment, Technology, Cost, Performance, PPA Pricing, and Value in the United States [Slides]
Technical Report
·
Mon Oct 04 00:00:00 EDT 2021
·
OSTI ID:1823604