Solar PV Costs Rise Slightly to $44/MWh in 2025

⚡ AI Executive Summary

Solar photovoltaic levelized cost of electricity has edged upward in 2025, marking a modest reversal from the steep cost declines of recent years. The shift reflects underlying pressures in manufacturing, supply chains and financing conditions affecting the sector globally. This uptick, while small in absolute terms, signals a potential inflection point in solar's cost trajectory and warrants close attention from utilities and developers planning capacity additions. The implications for solar's competitive position against wind and conventional generation remain favorable, but grid planners should factor in the reduced margin for cost-driven solar deployment growth. Readers should consult the IRENA report for detailed regional breakdowns and component-level cost drivers.