Solar costs jumped in 2021 amid supply chain constraints, report shows

  • 3/10/2022
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Broad economic challenges including supply chain constraints have increased solar costs in 2021 as prices rose as much as 18 percent, the US Solar Market Insight report showed. Solar prices increased across all three markets — residential, commercial and utility scale — for the first time since Wood Mackenzie began tracking the data in 2014, it added. During 2021, the solar industry established a record 23.6 gigawatts of new capacity, amounting to a 19 percent increase from the year earlier. The report’s release comes amid concerns about energy security after Russia invaded Ukraine. The US Solar Market Insight report is a quarterly publication by the Solar Energy Industries Association and Wood Mackenzie.

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