The Best Solar Report You Can Read!

Best Solar Repot

Technically, EnergySage is a competitor to us but if someone does something great, you’ve gotta take your hat off, give credit where it’s due, etc. Among other things, ES publish a half-yearly or yearly report on the state of solar (residential) in the US. And by God, it’s awesome.  

They recently released their 2023 report and here are some of the highlights. We’ve got the link at the bottom in case you want to read the whole report (fair warning: it’s 20+ pages). 

  1. Solar prices decreased for the first time since 2021: For the first time since mid-2021, solar prices decreased on the EnergySage Marketplace, dropping by 3.5% to $2.80 per watt. Note: $/Watt is how the industry insiders measure costs. 
  1. Quoted storage prices also fell by 6.4% on EnergySage in the second half of the year, decreasing for the first time since we began tracking prices in 2020.  
  1. Cash is King: The median interest rate for quotes that included financing increased to 5.5% in the second half of the year. Cash remains the financing option with the best ROI. 
  1. The most quoted panels in USA were REC and Q CELLS. The map below shows which panels were the #1 quoted panel by state. 
  1. Enphase was both the most quoted inverter (8th year in a row) and battery provider (2nd year in a row, beating TSLA as a close second). The below map shows #1 inverter quoted by state. 

You can read the entire report here

Also, if you are wondering why one company (Enphase) dominates both batteries and inverters, they make the world’s safest and smartest products – in fact, they invented what are called Microinverters which sit below each panel. Their batteries are made with LFP which is the safest tech for storage. You should check them out here.  

That’s it folks. There’s never been a better time to buy solar – costs are down, temperatures are up, and grids have been less reliable than before. Cash has the best ROI but there are several good loan providers who can help you with your journey! 

And we can help you get there: click here to talk to a local installer today.

  • by Understand Solar
  • |
  • March 29, 2024