EnergySage report finds solar prices increased for first time in at least 7 years

Solar Smart Living

EnergySage has released its fourteenth semiannual “Solar Marketplace Intel Report,” which covers dynamic pricing, equipment and consumer preference trends shaping today’s U.S. residential solar and energy storage industries. The report analyzes millions of transaction-level data points generated by quotes sent to homeowners shopping on EnergySage.com in 2021 for solar panels and batteries from solar companies in 37 states and Washington, D.C.

Below are three key insights from the latest report, which can be downloaded for free in its entirety at energysage.com/data.

By a slim margin, solar prices increase for the first time

For over seven years, the quoted price of solar has decreased on EnergySage every six months. For the first time since 2014 when EnergySage began tracking prices, that trend reversed. Though minor, the quoted price of solar increased by 0.4%, most likely due to the effects of supply chain constraints and shortages.

Equipment market share varies widely at the state level

Costs, consumer preferences and installer offerings all shift significantly geographically. In 73% of the states where EnergySage operates, solar shoppers received quotes including 10 or more different equipment pairings in 2021 — a strong sign of significant competition and customer choice on EnergySage. Silfab remains the most quoted panel brand in the most states, while Enphase remains the most quoted inverter brand in the most states.

More people are purchasing solar panel systems with energy storage capabilities

Consumer interest in energy storage remains high; 70% of customers request storage quotes when creating their EnergySage accounts. The demand for solar + storage has translated to higher attachment rates as well. In 2021, 13% of residential systems installed through EnergySage included energy storage, up from 9% in 2020 and climbing.

“With solar prices on the rise, albeit slightly, the data in this latest report really speaks to the importance of, and the levels of, transparency, competition, and comparison-shopping offered on EnergySage,” said EnergySage CEO and founder Vikram Aggarwal. “Our Marketplace helps consumers easily evaluate their options so that they can find the right solution for their needs at a fair price, all without sacrificing equipment quality.”

News item from EnergySage

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Original Source: https://www.solarpowerworldonline.com/2022/03/energysage-report-solar-prices-increased-first-time-seven-years/