@techreport{35466,
  author = {Mark Bolinger and Joachim Seel and Cody Warner and Dana Robson},
  title = {Utility-Scale Solar, 2022 Edition: Empirical Trends in Deployment, Technology, Cost, Performance, PPA Pricing, and Value in the United States},
  abstract = {<p>Berkeley Lab{\textquoteright}s {\textquotedblleft}Utility-Scale Solar, 2022 Edition{\textquotedblright} provides an overview of key trends in the U.S. market, with a focus on 2021. Highlights of this year{\textquoteright}s update include:</p><ul><li>A record of nearly 12.5 GW<sub>AC</sub> of new utility-scale PV capacity came online in 2021, bringing cumulative installed capacity to more than 51.3 GW<sub>AC</sub> across 44 states.</li><li>90\% of all new utility-scale PV capacity added in 2021 uses single-axis tracking.</li><li>Median installed project costs declined to $1.35/W<sub>AC</sub> (or $1.02/W<sub>DC</sub>) in 2021.</li><li>Project-level capacity factors vary widely, from 9\% to 35\% (on an AC basis), with a sample median of 24\%. The report explores drivers of this variation.</li><li>Utility-scale PV{\textquoteright}s LCOE fell to $33/MWh in 2021 ($27/MWh if factoring in the federal investment tax credit, or ITC).</li><li>PPA prices have largely followed the decline in solar{\textquoteright}s LCOE over time, but have recently stagnated and even moved slightly higher. Prices from a sample of recent contracts average around $20/MWh (levelized) in the West and $30-40/MWh elsewhere in the continental US.</li><li>In 2021, solar{\textquoteright}s average market value (defined in the report to include only energy and capacity value) rose by 55\% to $47/MWh and exceeded average wholesale prices in 13 of the 17 balancing authorities analyzed.</li><li>Adding battery storage is one way to increase the value of solar. Our public data file tracks metadata and PPA prices from 67 PV+battery hybrid projects that are already online or that have secured offtake arrangements.</li><li>At the end of 2021, there were at least 674 GW of utility-scale solar power capacity within the interconnection queues across the nation, 284 GW of which include batteries.</li></ul><p>For more information, and to explore related interactive data visualizations, go to <a title="Project page link" href="https://emp.lbl.gov/utility-scale-solar" target="_blank">utilityscalesolar.lbl.gov</a>.</p>},
  year = {2022},
  month = {09/2022},
  note = {<p>You can find a brief overview of this research <a title="EMP News item" href="https://emp.lbl.gov/news/berkeley-lab-s-latest-utility-scale-solar-0" target="_blank"><strong>here</strong></a>.\&nbsp;</p><p>The authors recorded a webinar summarizing key findings from the report on September 28, 2022. You can view the webinar <a title="Webinar link" href="https://emp.lbl.gov/webinar/utility-scale-solar-2022-edition" target="_blank"><strong>here</strong></a>.\&nbsp;</p>},
  language = {eng},
}