@misc{34956,
  author = {Mark Bolinger and Joachim Seel and Cody Warner and Dana Robson},
  title = {Utility-Scale Solar, 2021 Edition: Empirical Trends in Deployment, Technology, Cost, Performance, PPA Pricing, and Value in the United States},
  abstract = {<p>Berkeley Lab’s “Utility-Scale Solar, 2021 Edition” provides an overview of key trends in the U.S. market, with a focus on 2020. Highlights of this year’s update include:</p><ul><li>A record of nearly 9.6 GW<sub>AC</sub> of new utility-scale PV capacity came online in 2020, bringing cumulative installed capacity to more than 38.7 GW<sub>AC</sub> across 43 states.</li><li>89% of all new utility-scale PV capacity added in 2020 uses single-axis tracking.</li><li>Median installed project costs declined to $1.4/W<sub>AC</sub> (or $1.1/W<sub>DC</sub>) in 2020.</li><li>Project-level capacity factors vary widely, from 9% to 36% (on an AC basis), with a sample median of 24%. The report explores drivers of this variation.</li><li>Utility-scale PV’s LCOE fell to $34/MWh in 2020 ($28/MWh if factoring in the federal investment tax credit, or ITC).</li><li>PPA prices have largely followed the decline in solar’s LCOE over time, but have stagnated more recently. Prices from a sample of recent contracts average just above $20/MWh (levelized).</li><li>In 2020, solar’s average market value (defined in the report to include only energy and capacity value) exceeded average wholesale prices in 12 of the 17 balancing authorities analyzed (including 4 of the 7 independent system operators across the United States).</li><li>Adding battery storage is one way to increase the value of solar. Our public data file tracks metadata for more than 150 PV+battery hybrid projects that are already online or that have secured offtake arrangements.</li><li>At the end of 2020, there were at least 460 GW of utility-scale solar power capacity within the interconnection queues across the nation, 160 GW of which include batteries.</li></ul><p>For more information, and to explore related interactive data visualizations, go to <strong><a title="Project page link" href="https://emp.lbl.gov/utility-scale-solar" target="_blank">utilityscalesolar.lbl.gov</a></strong>.</p>},
  year = {2021},
  month = {10/2021},
  note = {<p>A webinar discussing this research recorded on October 12, 2021, can be viewed <a title="Webinar recording link" href="https://emp.lbl.gov/webinar/utility-scale-solar-2021-edition-empirical" target="_blank"><strong>here</strong></a>.&nbsp;</p>},
  language = {eng},
}