Cleantech manufacturing cost driver shares 2023

In 2023, energy costs accounted for 32 percent of total manufacturing costs for solar PV. In comparison, energy costs accounted for just one percent of the total manufacturing costs for wind technologies. While there a variety of drivers that affect clean technolology manufacturing costs, the costs of upstream components used in the production of a clean technology or the costs of materials used as inputs account for the largest share.

Distribution of clean technology manufacturing cost drivers in 2023, by product

Characteristic	Capital costs	Fixed opreational costs	Labour costs	Energy costs	Other component and material costs
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-

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Release date

October 2024

More information

Region

Worldwide

Survey time period

2023

Special properties

Totals may not sum 100% due to rounding.

Supplementary notes

Values refer to the global production-weighted average in 2023. Other component and material costs refer to the costs of upstream components used in the production of a clean technology (e.g. compressors in heat pumps) or the costs of materials used as inputs (e.g. aluminium for solar modules). Electrolysers refer to the stack of an alkaline system; heat pumps refer to the final assembly step (averaging the production cost of air-to-air and air-to-water units). Battery refers to cells and to the 2023 world capacity-weighted battery chemistry. A utilisation rate of 85% and a lifetime of 25 years is used for all equipment. USD = USD (2023, MER). Costs shown here are exclusive of explicit financial support (e.g. tax credits in the Inflation Reduction Act), but may include financial support embedded in individual cost components (e.g. fossil fuel subsidies).

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