Solar PV and energy storage prices ‘soared’, NREL market report says

By Renewable Energy World The National Renewable Energy Laboratory (NREL) released its annual cost breakdown of installed solar photovoltaic (PV) and battery storage systems.

U.S. Solar Photovoltaic System and Energy Storage Cost Benchmarks, With Minimum Sustainable Price Analysis: Q1 2022 details installed costs for PV and storage systems as of the first quarter (Q1) of 2022.

The report said that prices soared throughout the U.S. between Q1 2021 and Q1 2022 for the PV and energy storage markets in particular. The ongoing COVID-19 pandemic caused or complicated supply chain constraints, and industry-specific events and trade policies drove up PV and battery prices.

Such volatility poses a

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