Cost models are necessary to understand how a given technology's economics scale. This is crucial when designing a system for a given application. A reference economic model is useful for both industry and academia. Industry can use it to assess the economic viability of its concept while being sure the economic model is aligned with the competitors. Academics can use it to assess the economic viability of their research while being sure the economic model is aligned with the industry. The present economic model aims at identifying the main cost drivers for each sub-component, quantifying the main cost parameters, and defining relevant metrics and relevant study cases. The process of refining and validating this economic model needs to be a collaborative effort between the authors and the community, to ensure a high-quality model.