The cost of building solar farms has been declining for several years, making solar power increasingly popular with projects of all sizes mushrooming around the world. The tide is now turning, however, as new utility PV projects are starting to become more expensive due to increasing costs for modules, shipping, and labor, a Rystad Energy report reveals. Rising commodity prices and shipping costs are eroding utility PV project margins, potentially leading to delays for developments nearing financial close. Modules account for the largest single capex item of utility PV projects, which means even modest changes in costs can lead to significant challenges for project economics. Over the past 10 years, the industry has seen an 80% drop in module prices on a dollar-per-watt basis, from over $1 per watt peak (Wp) in 2011 to less than $0.20/Wp free-on-board (FOB) in 2020. This year, however, module costs FOB from China […]