A new report from Fraunhofer ISE shows that the cost of PV systems in Germany is currently between €700/kW and €2,000/kW. The research also shows that the levelized energy costs of solar energy plus storage range from €0.06/kWh to €0.225/kWh.
The levelized energy cost (LCOE) of solar PV in Germany currently ranges from €0.041 ($0.049)/kWh to €0.144/kWh, according to a new report from the Fraunhofer Institute for Solar Energy Systems (Fraunhofer ISE).
This means that solar energy is the cheapest source of electricity in the country, followed by wind energy, whose LCOE was found to range from €0.043/kWh to €0.92/kWh. “Ground-mounted PV systems and onshore wind turbines are the most cost-effective technologies in Germany, not only among renewable energy sources, but also among all types of power plants,” the report said.
The experts at the German research center also estimated the cost of PV systems to be between €700/kW and €2,000/kW, depending on size and solar radiation level, while the cost of wind power plants was found to be between €1,300/kW. kW and €1,900/kW.
The report also shows that the LCOE of batteries linked to PV installations currently ranges from €0.060/kWh to 0.225/kWh, with battery costs estimated at between €400/kWh and €1,000/kWh.
Looking ahead, the researchers predict that the LCOE of utility-scale PV in 2045 could range from €0.031/kWh to €0.050/kWh. They also expect the LCOE of rooftop PV to be between €0.049/kWh and €0.10/kWh. .
“PV system prices are expected to fall by 2045, potentially to below €460/kW for ground-mounted systems and to between €660/kW and €1,306/kW for small systems,” they stated. “It is predicted that by 2035, electricity generation from a PV battery system will be significantly cheaper on average than from a gas turbine combined cycle power plant.”
They also specified that PV systems linked to batteries can achieve an LCOE of €0.07/kWh to €0.19/kWh, provided that battery costs will range from €180/kWh to €700/kWh.
“These calculations show that the large-scale projects currently being launched in Germany with a combination of ground-mounted PV systems, wind farms and stationary battery energy storage are good investments,” says Christoph Kost, head of the Energy System Analysis department at Fraunhofer. ISE and lead author of the study. “For example, through the combination of systems, grid capacities can be better utilized.”
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