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Solar PV LCOE evolution between 2022-2024 in several regions

IRENA: Global solar PV LCOE increases by 0.6% in 2024 to US$0.043/kWh

July 25, 2025
According to a report from the International Renewable Energy Agency (IRENA), the global levelised cost of electricity (LCOE) for solar PV reached US$0.043/kWh in 2024.
Image: Photo by American Public Power Association on Unsplash

US utility-scale solar PV LCOE tightens to US$38-78/MWh in 2025 – Lazard

June 17, 2025
The levelised cost of energy (LCOE) for utility-scale solar PV in the US has tightened for a third year in a row, according to Lazard’s latest report.
Prescinto makes the case for artificial intelligenceenabled monitoring of solar assts. Pictured here is the Andasol 150MW power plant in Andalusia, Spain. Image: Wikicommons, Kallerna.

Solar’s ascendancy: how crystalline silicon will dominate global energy by 2050

May 6, 2025
While other technologies exist, c-Si solar PV technology is the leading candidate for large-scale energy production, writes Radovan Kopecek.
Aerial view of a solar PV plant in India from Tata Power

Renewables will need policy support to be ‘economically optimal’ – BloombergNEF

April 15, 2025
Renewable energy will need policy support to reach “economically optimal” levels for the global energy transition, according to BloomberNEF.
An Avaada Group manufacturing plant.

Global solar module manufacturing capacity to reach 1.8TW in 2025 – report

March 24, 2025
This would be treble the installations registered globally in 2024, with China controlling most of the supply chain.
A Lightsource bp project.

US adds record 49GW of solar capacity in 2024

February 24, 2025
The US added a record 49GW of new solar capacity in 2024, according to figures from the BCSE and Bloomberg New Energy Finance.
Aerial view of one of the largest US single-phase solar PV projects

BNEF: Fixed-tilt PV LCOE to fall to US$35/MWh by the end of 2025

February 6, 2025
The levelised cost of electricity (LCOE) for a number of clean power industries will fall by between 2-11% year-on-year by the end of 2025.
A solar project in Germany.

US set to install 32GW utility-scale solar PV in 2024

November 27, 2024
The American Clean Power Association (ACP) has forecasted that the US is set to add 32GW of utility-scale solar PV capacity in 2024.
SOLTEC_SF_Utility_single_axis_tracker_installation_in_Brazil

Solar LCOE continues to decrease globally – Wood Mackenzie

October 22, 2024
The average global LCOE for fixed-axis solar PV systems in 2024 reached US$66/MWh, ranging from US$28/MWh to US$117/MWh.
Francesco La Camera speaking at COP28.

IRENA: Solar LCOE falls 12% year-on-year, 90% since 2010

September 26, 2024
The global weighted average LCOE of utility-scale PV plants fell to US$0.044/kWh in 2023, a 12% year-on-year decline from 2022.

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