U.S. Photovoltaic Prices and Cost Breakdowns: Q1 2015 Benchmarks for Residential, Commercial, and Utility-Scale Systems

The price of photovoltaic (PV) systems in the United States (i.e., the cost to the system owner) has continued to decline across all major market sectors. This report provides a Q1 2015 update regarding the prices of residential, commercial, and utility scale PV systems, based on an objective methodology that closely approximates the book value of a PV system. Several cases are benchmarked to represent common variations in business models, labor rates, and system architecture choice. We estimate a weighted-average cash purchase price of $3.09/W for residential scale rooftop systems, $2.15/W for commercial scale rooftop systems, $1.77/W for utility scale systems with fixed mounting structures, and $1.91/W for utility scale systems using single-axis trackers. All systems are modeled assuming standard-efficiency, polycrystalline-silicon PV modules, and further assume installation within the United States.