We’re happy to launch the 2022 version of Berkeley Lab’s Utility-Scale Photo voltaic report, which presents evaluation of empirical plant-level information from the U.S. fleet of ground-mounted photovoltaic (PV), PV+battery, and concentrating solar-thermal energy (CSP) vegetation with capacities exceeding 5 MWAC. Whereas centered on key developments in 2021, this report explores developments in deployment, expertise, capital and working prices, capability components, the levelized price of photo voltaic power (LCOE), energy buy settlement (PPA) costs, and wholesale market worth among the many fleet of utility-scale photo voltaic (and PV+battery) vegetation in the US.
The report, revealed in slide-deck format, is accompanied by a story abstract briefing, interactive information visualizations, and a public information file, all obtainable by the hyperlink above. The authors will host a free webinar summarizing key findings from the report on September 28, 2022, at 10:00 AM PT/1:00 PM ET. Please register for the webinar right here: https://lbnl.zoom.us/webinar/register/WN_hQmjF-kUQpaoLtQ6UDedsg
The next are a couple of key findings from the newest version of the report.
A report quantity of recent utility-scale PV capability achieved industrial operations in 2021. Annual capability additions of 12.5 GWAC introduced cumulative put in capability to 51.3 GWAC throughout 44 states (see map under). Texas (3.9 GWAC) added by far essentially the most new capability in 2021, adopted by California (1.2 GWAC), Florida (1.1 GWAC), and Virginia and Georgia (each with 0.9 GWAC).
Single-axis monitoring is the dominant mount sort. 90% of all new utility-scale PV capability added in 2021 makes use of single-axis monitoring, with the rest mounted at a set tilt.
Regardless of rising inflationary pressures, put in prices fell in 2021. Median put in prices declined to $1.35/WAC (or $1.0/WDC) based mostly on a 5.4 GWAC pattern of 62 vegetation accomplished in 2021, and have fallen by greater than 75% (averaging 10% yearly) since 2010. The bottom-cost 20th percentile of vegetation in our 2021 pattern price $1.1/WAC ($0.8/WDC) or much less.
Plant-level capability components fluctuate extensively, from 9% to 35% (on an AC foundation), with a pattern median of 24%. The excessive diploma of plant-level variation relies on quite a lot of components, together with insolation, monitoring vs. fixed-tilt mounts, inverter loading ratios, efficiency degradation, and curtailment.
Utility-scale PV’s LCOE fell to $33/MWh on common in 2021. The typical LCOE has fallen by about 85% (averaging 16% yearly) since 2010, pushed by decrease capital prices and enhancing capability components (in addition to different components).
PPA costs from a pattern of contracts signed in 2021 common $23/MWh (levelized, in 2021 {dollars}). PPA costs, which replicate receipt of the federal funding tax credit score (ITC), have largely adopted the decline in photo voltaic’s LCOE over time, however since 2019 have stagnated and even elevated barely (see graph under).
Rising wholesale electrical energy costs boosted photo voltaic’s market worth by 50% on common in 2021, to $47/MWh. This enhance in photo voltaic’s mixed power and capability worth outpaced the more-modest rise in PPA costs, thereby enhancing photo voltaic’s competitiveness (see graph under).
Photo voltaic’s market worth additionally exceeded common electrical energy costs in most areas in 2021. Exceptions embrace ERCOT, CAISO, Nevada Energy, and ISO-NE. In comparison with 2020, nevertheless, photo voltaic’s relative worth versus a “flat block of energy” contracted in 13 of the 17 areas analyzed.
2021 was additionally a report 12 months for PV+battery hybrid vegetation. Including battery storage to shift a portion of extra mid-day photo voltaic era into night hours is one solution to enhance the worth of photo voltaic. These PV+battery hybrid tasks have gotten more and more widespread, notably in higher-penetration markets. In 2021, 47 PV+battery hybrid vegetation totaling 3.5 GWAC of PV and a pair of.2 GW / 6.9 GWh of battery storage achieved industrial operations, whereas many extra hybrids entered the event pipeline. The report presents plant metadata, together with put in prices and PPA costs, from a subset of those on-line and in-development PV+battery hybrids.
A large pipeline of utility-scale photo voltaic vegetation dominate the interconnection queues throughout the nation. Trying forward, no less than 674 GW of photo voltaic capability was within the nation’s interconnection queues on the finish of 2021. Almost 284 GW, or 42%, of that complete was paired with a battery.
The entire information and evaluation introduced on this 2022 version of Utility-Scale Photo voltaic (hyperlink is exterior) pre-dates the passage of the Inflation Discount Act of 2022. This new legislation, with its many incentives aimed toward stimulating clear power deployment, is more likely to have a major influence on the utility-scale photo voltaic market in future years, doubtlessly accelerating some developments and slowing others, whereas additionally creating new developments altogether. We sit up for monitoring the trade’s progress in future editions of this report.
We respect the funding help of the U.S. Division of Vitality Photo voltaic Vitality Applied sciences Workplace in making this work attainable.
Article courtesy of Berkeley Lab. By Rebecca Martineau
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