In 2024, solar photovoltaics (PV) were, on average, 41% cheaper than the lowest-cost fossil fuel alternatives, while onshore wind projects were 53% cheaper. Onshore wind remained the most affordable s...
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To accurately reflect the changing cost of new electric power generators in the Annual Energy Outlook 2025 (AEO2025), EIA commissioned Sargent & Lundy (S&L) to evaluate the overnight capital cost
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In 2022, the global weighted average levelised cost of electricity (LCOE) from newly commissioned utility-scale solar photovoltaics (PV), onshore wind, concentrating solar power (CSP), bioenergy and
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The dramatic cost reductions of the past decade—90% for solar and 69% for wind—have fundamentally transformed the energy landscape. These improvements result from technological
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Solar, wind, and hydropower are based on the projected levelized cost of energy, which includes capital expenditures and operating costs, while natural gas, coal, and nuclear are based on
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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
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Solar Installed System Cost Analysis NLR analyzes the total costs associated with installing photovoltaic (PV) systems for residential rooftop, commercial rooftop, and utility-scale
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The average cost per unit of energy generated across the lifetime of a new power plant. This data is expressed in US dollars per kilowatt-hour. It is adjusted for inflation but does not account for
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This paper presents average values of levelized costs for new generation resources as represented in the National Energy Modeling System (NEMS) for our Annual Energy Outlook 2025 (AEO2025)
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In 2024, solar photovoltaics (PV) were, on average, 41% cheaper than the lowest-cost fossil fuel alternatives, while onshore wind projects were 53% cheaper. Onshore wind remained the
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The Inflation Reduction Act made changes to how the inflation and rounding adjustments are calculated for newer projects. Those changes resulted in fewer PTCs in 2024 for projects placed
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