Solar PV utility scale levelised cost of energy index based on average annual input costs, 2018-2024

Notes

"Other" includes remaining investment costs, including other commodities, labour, energy, manufacturing processes, construction etc. LCOE = levelised cost of energy, 2020=100. WACC = weighted average cost of capital. LCOE index calculations are based on WACC of 4.5% in 2020-2022 and 5.5% in 2023-2024. Analysed commodities include steel, copper, aluminium and polysilicon. Technology improvement impact is based on historical trends. The data excludes China.