U.S. power plants overnight costs by technology 2023

Solar thermal power plants have the highest base overnight costs of any electricity generating station in the United States. In 2023, for one kilowatt capacity, base overnight costs would amount to 8,732 U.S. dollars. Overnight costs refer to the cost of constructing the power plant if no interest rates were incurred during the construction process.

Planned base overnight costs of new electricity generating stations in the United States in 2023, by major technology (in U.S. dollars per kilowatt)

Characteristic	Overnight costs in U.S. dollars per kilowatt
Solar thermal	8,731.88
Nuclear - small modular reactor	8,348.58
Nuclear - light water reactor	7,776.51
USC - 90% carbon capture and sequestration (CCS)	7,319.17
Fuel cells	7,290.58
Wind offshore	6,672.15
USC - 30% CCS	5,633.11
Wood and other biomass	4,997.89
Ultra-supercritical coal (USC)	4,507.11
Conventional hydropower*	3,421.01
Geothermal*	3,403.01
Combined-cycle - 90% CCS	3,140
Solar photovoltaic with storage*	1,808.19
Wind	1,566.12
Solar photovoltaic*	1,443.04
Combined-cycle - single shaft	1,329.51
Combined-cycle - multi shaft	1,175.69

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Release date

March 2023

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Region

United States

Survey time period

2023

Special properties

in 2022 prices

Supplementary notes

* For geothermal power plants costs are based on least expensive option for a plant in the Great Basin region. For hydropower plants costs are based on least expensive option in the Northwest region. For solar collectors costs are expressed in net AC power available for installed capacity.

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Planned base overnight costs of new electricity generating stations in the United States in 2023, by major technology (in U.S. dollars per kilowatt)

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