Solar on Every Home? NREL Outlines Pathways to Ultra-Low Cost Residential Solar
August 20, 2018 -- Since 2010, solar photovoltaics (PV) have seen dramatic cost reduction across the commercial, residential, and utility sectors. For example, the levelized cost of energy (LCOE) for residential PV has declined from 52 cents per kilowatt hour (¢/kWh) to 15.1 ¢/kWh between 2010 – 2017. In 2016, the Department of Energy (DOE) established new cost reduction targets for PV, including a 5 ¢/kWh target for residential PV by 2030. Looking forward, NREL estimates that residential PV may reach 9 ¢/kWh by 2030, based on current cost reduction trajectories. As a result, innovative cost reduction strategies are likely necessary to achieve the 5 ¢/kWh DOE target.
If the solar industry reaches this DOE target, it could dramatically alter the energy market and present a future where residential PV becomes a standard, cost-effective home installation, versus a luxury or long-term investment. A recent NREL report models a set of pathways that the industry could follow to realize this future. The analysis focuses on two key markets for residential PV cost reduction: installing PV at time of roof replacement and installing PV at time of new construction. These two market segments were selected because each offers significant cost reduction opportunities while representing a 30 gigawatt (GW) annual market nationwide.
Click here to read full story by Jeffrey Cook on NREL website
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