European Technology & Innovation Platform PhotoVoltaics

LCOE & Competitiveness

ETIP PV LCOE and Competitiveness Working Group (LCOE WG) is responsible for analysing the global market and price development of PV installations, modules and other relevant system components. It publishes an annual factsheet on PV Levelised Cost of Electricity (PV LCOE) including a projection of the cost development up to 2050. The LCOE WG also regularly publishes scientific reports on the competitiveness of PV compared with electricity market and retail prices in various European countries. PV + battery storage is another active topic of the LCOE WG.


Eero Vartiainen, Fortum Growth Oy


WG Members:

Girolamo Di Francia, ENEA
Christian Breyer, Lappeenranta University of Technology
Gaetan Masson, Becquerel Institute
David Moser, EURAC
Eduardo Roman Medina, Tecnalia

Working Group publications:

PV the cheapest electricity source almost everywhere (May 2019)

According to the base scenario by the European Technology and Innovation Platform for Photovoltaics, the cumulative global PV capacity would increase from the end of year 2018 figure of 0.50 TWp to about 3 TWp by 2030 and to 20 TWp by 2050.


PV is already a competitive electricity source (May 2017)

The cost of photovoltaic (PV) systems has decreased dramatically over the past years. Market prices of PV modules have decreased by 90% during the last eight years. PV has reached parity with retail electricity in most countries and market segments, and wholesale parity is approaching at many markets.


The true competitiveness of solar PV. A European case study

This report compares the levelised cost of PV electricity (PV LCOE) with retail electricity prices in different European countries and market segments. The report shows that PV electricity is already cheaper than retail electricity in all market segments and with all realistic interest rates in many European countries like Italy, Germany, the UK, Spain, Portugal and Greece. Even in countries with moderate solar irradiation and low retail electricity price like Finland and Sweden, PV will become competitive in 5-10 years.



It has been shown that the PV module price will most likely to be halved again and BoS price will decrease by more than 35% by 2030, leading to an overall PV system CAPEX reduction of about 45%. It must be noted that this development does not require any major technology breakthroughs but is a natural cause from continuing efforts in reducing materials use, impoving efficiency and developing manufacturing processes. At the same time, PV system OPEX is expected to decrease by 30%. PV LCOE will decrease by 30-50% from 2014 to 2030, depending on the volume growth and learning rate.