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Design of Residential Photovoltaic Systems 149

100 1979 CdTe
Global module average selling price (USD/Wp) 10 1 1992 1998 2011 2014 2011 2015
c-Si

2002
2004

0.10
1 10 100 1,000 10,000 100,000 1,000,000
Cumulative production volume (MW)

FIGURE 6.10 The global PV module price learning curve for cSi wafer-based and CdTe modules,
1979–2015. (Based on IRENA, Renewable energy technologies: Cost analysis series, International
Renewable Energy Agency (IRENA), available: https://www.irena.org/DocumentDownloads/Publications/
RE_Technologies_Cost_Analysis-SOLAR_PV.pdf2012.)

Installation
cost, 15%

Installation
HW, 15%
PV panels,
PV inverter, 60%
10%

FIGURE 6.11 Cost distribution for grid-connected PV systems.

the learning curve and shows a 22% reduction in price each time the production is doubled. The pie
chart in Figure 6.11 shows the cost distribution of the major components in the case of a PV system,
where the “PV panels” take up 60% and “installation cost” and “installation hardware ” take up 15%
each, while the “PV inverter” only 10%.

6.4 SUMMARY

There has been a fall in the cost of not only PV modules; inverters, mounting structures, and other
BOS components have also decreased in price and have become more efficient. In 2015, a turnkey
residential PV system with a size of approximately 6 kWp costs around 85,000 DKK in Denmark.
This corresponds to a price of approximately 14 DKK per Wp. Larger PV systems have a lower price
per installed kWp, and prices are still expected to fall in the future.