Note: Costs are expressed in constant 2024 US$ per watt. Global estimates are used before 2010; European market benchmarks thereafter due to limited data availability. Solar photovoltaic module prices refer to the cost of the solar panel itself, and do not include installation or other system components.
Average price of solar modules, expressed in US dollars per watt, adjusted for inflation. Data source: IRENA (2025); Nemet (2009); Farmer and Lafond (2016) – Learn more about this data Note: Costs are expressed in constant 2024 US$ per watt.
This includes the analysis and detailed understanding of photovoltaic cell manufacturing plant costs, including capital expenditure (CapEx), operating expenditure (OpEx), income projections, taxation, depreciation, liquidity analysis, profitability analysis, payback period, NPV, uncertainty analysis, and sensitivity analysis.
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 modeled and download the data and cost modeling program below.
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As of mid-2025, a single professionally installed solar panel can cost around $1,200, depending on its type and efficiency. Q: How much fossil fuel is used to make solar panels? The
The U.S. Department of Energy''s solar office and its national laboratory partners analyze cost data for U.S. solar photovoltaic systems to develop cost benchmarks to measure progress
Solar photovoltaic panel prices Average price of solar modules, expressed in US dollars per watt, adjusted for inflation.
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