Capital costs of utility-scale solar PV in selected emerging economies

Sources

IEA analysis based on S&P Global Platts (2020) and IEA PVPS (2018).

Notes

LCOE = levelised cost of electricity. Expressed on a real, unsubsidised basis; capacity factor = 17%. Financing assumptions assume before-tax cost of debt of 9% and required return on equity of 18%. Reduced financing costs correspond to those estimated for an indicative independent power producer investment in a low-risk environment (3% for debt and 7% for equity). Assumed project size = 50 MW and installation costs = 1 120 USD/kW. The size of the grey columns reflect an indicative relative value of each group of risks.