PV makes low voltage DC, usefull only for direct use (or battery storage).

Do you have a point here?  

A significant extra step is required to make this power generally useful, power electronics to convert it.

Oh, well to apply your own logic, the power in the home should be 12VDC or even 1.5 VDC.   Because some of man's most usful creations is TTL and CMOS logic.   If you plug a IC into 120 VAC, it goes poof!   A significant extra step is needed to convert 120VAC down to 12VDC, 5VDC, 3.3 VDC and other very low  DC voltages.

A cheap and easy step because efficiency is not an issue.

I can feel the heat coming from the converter on my feet right now.  My guess is <$5 wholesale.

OTOH, when efficiency matters, it costs.  Such as PV > Medium voltage AC.

A cheap and easy step because efficiency is not an issue.  I can feel the heat coming from the converter on my feet right now.

What about the heat from the step down transformer on the pole/neighborhood substation?    What about the 20-50% line loss (depending on who you want to quote)?

If you are willing to accept cheap lossy transformers at your feet, why oppose solar PV that MIGHT need a conversion step?

20% line loss ?

WAY over the US average.  The most often quote is 10% transmission & transforming loss.

Since computers do not run on the EXACT DC voltage that PV modules produce and because DC voltage cannot be transformed (i.e changed) without going first to AC (i.e. 12 V DC > 120 V AC > 5 V DC), any PV energy calculation has to include the costs (energy & capital) to convert to useable AC power.

The only exception that I can think of is direct feeding of series wired PV to Urban Rail (600 V DC to 1000 V DC depending upon system).  PV could be used as supplemental power in that way.  Also, wire house for 12 V DC, use 12 V DC Sunfrost frig, 12 V DC light bulbs (including LEDS), 12 V DC small travel TV, car recharging for cell phone and 12 V DC lead acid batteries.  This would be in addition to regular 120 V AC power for other uses.

You have a point about line mounted transformers.  MUCH less efficient than larger units.  More efficient, more expensive, and somewhat larger residential transformers might reduce US electricity consumption by fairly close to 1%.