Last week, EnergySage released our eleventh Solar Marketplace Intel Report. The free, publicly available report provides insight into the state of the solar market nationwide and at the state level through July of 2020. In this report, we take a look at the impact of the coronavirus pandemic on the solar industry, check in on how solar pricing compares on EnergySage to data from the rest of the market, and introduce a few brand new analyses of energy storage data, from cost to brand preference. A few key takeaways from the report are outlined below, and we look forward to your analysis and feedback on the report.
Want lower solar costs? Come to EnergySage
For the second year, we compared national installed cost from Lawrence Berkeley Laboratory’s Tracking the Sun dataset to the price of solar that customers are quoted on EnergySage. Overall, solar shoppers on EnergySage pay less for solar than those who install solar outside of our Marketplace: nationally, the cost of installing solar was 29% higher than prices on EnergySage in 2019. And the price of solar keeps falling on EnergySage, down to $2.85 per Watt in the first half of 2020, a 25% decrease over the last six years.
Interested in storage for backup power? You’re not alone
Solar shoppers on EnergySage are increasingly looking for more than just solar for their homes: many are now receiving quotes for and purchasing energy storage systems to go with their solar panels. When you register for a free account to receive custom solar quotes for your home, we ask if you’re also interested in energy storage and, if so, why.
Not surprisingly, the primary driver of energy storage interest nationwide is resilience: two-thirds EnergySage shoppers express interest in receiving storage quotes to have backup power in the case of an emergency.
From hurricanes in the Southeast to wildfires in the West and wind storms downing power lines in the Northeast, it seems the majority of the country is now impacted by more frequent power outages. As these power outages increase in frequency, and as the cost of batteries continue to decrease, you’ll see plenty more energy storage installed in homes and businesses across the country over the coming years.
Who dominates the storage market? Spoiler alert: it’s Tesla
The energy storage industry and market are just beginning to take off: according to data from the Energy Storage Association and Wood Mackenzie, each of the last five quarters has replaced the previous three-month period as the best quarter ever for residential energy storage installations.
In this nascent, but rapidly expanding industry, there are many different players offering residential energy storage solutions. To date, however, the energy storage market has been dominated by a well-known brand: Tesla. Not only are Tesla’s batteries (specifically the Powerwall 2) the most quoted on the EnergySage Marketplace, they’re offered at the lowest cost of any option on the market today.
Explore solar data and costs in your area on EnergySage
Our mission at EnergySage is to make the solar industry more transparent and accessible for everyone. To that end, we publish solar industry pricing and equipment information across our website, both in reports like our biannual Solar Marketplace Intel report, as well as on individual state, county and city cost pages. Feel free to download our latest reports for free on the EnergySage data page, including broader insights about the impact of the coronavirus pandemic on the solar industry and our annual Installer Survey.
To see first hand how the costs and benefits of going solar where you live have decreased in recent years, check out the EnergySage Solar Calculator for a geographically-specific estimate and solar savings, or register for the EnergySage Marketplace to receive free, custom quotes from local solar installation companies.
