Photovoltaic (PV) Module Technologies: 2020 Benchmark Costs and Technology Evolution Framework Results

This report benchmarks 2020 PV module minimum sustainable price (MSP) via bottom-up manufacturing cost analysis, for established PV technologies in mass production, including crystalline silicon, cadmium telluride (CdTe), and copper indium gallium (di)selenide. We provide technology roadmaps to additional MSP reductions for these PV technologies. Separately, we consider III-V and perovskite PV technologies which are currently in small-scale or pilot production. Finally, this report uses a technology evolution framework (TEF) to analyze drivers of levelized cost of energy reductions, including installed system cost - which is heavily influenced by module price - as well as service life and annual energy yield.