In the first half of the year, pv prices in Europe and America soared 19.1% and 8.1% Dec 12,2022.
According to a report published by the International Renewable Energy Agency (IRENA), 163 GW of new renewable power will be installed in 2021, which is cheaper to generate than coal-fired power. That includes a 13% drop in solar costs over the past year, despite a rise in module prices.

Compared with 2020, the cost of onshore wind has fallen by 15 percent, offshore wind by 13 percent, and solar by 13 percent, according to the International Renewable Energy Agency's cost of Renewable Power Generation to 2021. Among them, the war between Russia and Ukraine caused the price of coal and natural gas to rise, and also made the cost of thermal power generation rise further. Despite a good year for solar power in 2021, the situation has reversed this year. According to a recent LevelTen Energy report, Europe's power purchase agreement price (PPA) rose 47% year on year as the continent's Energy crisis continued and inflation soared. The P25 index of solar quotes rose 19.1% to 59.43 euro /MWh in q2, almost 10 euro higher than q1 2022.

The rise in solar prices in the US is influenced by the soaring value of the photovoltaic industry chain on the one hand, but more importantly by policy factors. In the first half of this year, the US Department of Commerce launched an investigation into solar products in Southeast Asia, which directly led to the soaring cost of solar production in the US and a large number of stalled solar projects in the US. In the U.S., too, inflation, logistics disruptions and rising labor costs have led to soaring solar costs, reversing a decade of declining costs for the renewable energy sector.



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