From 2013 to 2021, the U.S. witnessed significant variations in generator construction costs across different energy sources. Natural gas remains the most cost-effective option, with construction costs ranging from $812 to $1116 per kW (capacity-weighted average cost, $/kW). Solar PV experienced a substantial decrease in costs, dropping from $3705 per kW in 2013 to $1561 per kW in 2021, representing a 58% reduction.
Wind energy costs remained relatively stable, with minor fluctuations between $1391 and $1895 per kW, reflecting a 26% decrease from the highest cost in 2013. Battery storage saw a notable increase in cost, starting at $913 per kW in 2015 and rising sharply to $2973 per kW in 2019, before decreasing to $1796 per kW in 2021.
Raw data used for the chart and detailed source information (Download dataset)
Cite Chart: RenewStats.com. (2024). U.S. Generator Construction Costs by Source, 2013-2021. Retrieved from https://renewstats.com/region/united-states/2024/07/11/us-generator-construction-costs-source/
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