This paper presents average values of levelized costs for new generation resources as represented in the National Energy Modeling System (NEMS) for our Annual Energy Outlook 2025 (AEO2025) Reference case.
US electricity demand jumped by 135 terawatt-hours (TWh) in 2025, a 3. 1% increase, the fourth‑largest annual rise of the past decade. Over that same period, solar generation grew by a record 83 TWh – a 27% increase from 2024 and the biggest absolute gain of any power source.
NREL's 2024 meta-analysis of over 54,000 systems worldwide confirms that modern panels degrade at a median rate of 0. 7% per year, significantly better than the 1. 0% industry assumption from a decade ago.
The most powerful solar panel is AIKO's 795-watt (W) Neostar 2N+7, followed by Grand Sunergy's GSM-MH3/132-BHDG750 and RECOM's Lion RCM-750-8DBHM, which are both 750W. We've got more detail about all 11 panels further down the page.
The applicable percentage is a two-tier structure of a base rate of 6%, and an alternative rate of 30% (provided the taxpayer meets the wage and workforce requirements, the project is less than 1 MW or the project began construction prior to January 29, 2023).