This demonstrates that from 2013 to 2022, experience and knowledge spillover effects from global solar PV markets saved significant costs for three countries. Meanwhile, the unit cost savings of solar PV in the United States, Germany, and China are 102.96 $/kW, 225.73 $/kW, and 18.06 $/kW, respectively.
From 2023 to 2030, benefiting from global solar PV markets, the cumulative cost savings of solar PV in the United States, Germany, and China will be $48.11 billion, $8.80 billion, and $92.73 billion, and the unit cost savings of solar PV in the United States, Germany, and China will be 100.87 $/kW, 124.08 $/kW, and 49.23 $/kW. Fig. 7.
According to reviews on the cost structure of solar PV and onshore wind, this study assumes that the share of capital costs that can be affected by technological learning processes are 57% (i.e., α i = 0.57) for solar PV and 79% (i.e., α i = 0.79) for onshore wind (IEA, 2021a, b). 2.4.2. The depreciation rate of knowledge stock
In 2030, the capital costs of solar PV will increase by 128.22 $/kW in the United States, 153.26 $/kW in Germany, and 66.50 $/kW in China. Fig. 7 (B) depicts the annual cost savings of solar PV in three countries.
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