Global Forecast Of Photovoltaic Cost Per Kilowatt-Hour

 Due to factors such as supply chain constraints, changes in resource availability, and adjustments in some market mechanisms, in 2025, the levelized cost of electricity for typical fixed-axis utility-scale photovoltaic projects globally increased by 6% to $39/MWh, breaking the previous years of continuous decline. However, with the continuous deepening of technological innovation, the ongoing release of manufacturing scale effects, and the further intensification of market competition, the long-term downward trend in global photovoltaic power generation costs has not changed. It is expected that by 2035, the global average levelized cost of electricity from photovoltaic power will decrease by 30% from the current level.

 Global market differentiation is evident; China maintains a leading position in electricity cost per kilowatt-hour.

 From a global perspective, although the benchmark cost per kilowatt-hour of photovoltaics in 2025 will increase compared to the previous year, it remains competitive compared to other green energy sources such as wind power and energy storage. Currently, the levelized cost of electricity for onshore wind power is $40/MWh, while that for offshore wind power is $100/MWh, and photovoltaics remain at the forefront of global cost-effective clean energy sources.

  Different regional markets exhibit distinct characteristics of differentiation. In 2025, the levelized cost of electricity for single-axis tracking photovoltaic systems in the Middle East and Africa has dropped to $37/MWh, a 10% decrease year-on-year, becoming the lowest level among all global regions. The agency predicts that by 2060, the cost of photovoltaic electricity in the region is expected to further decrease to around $17 per megawatt-hour.