EnergySage today released its 13th Solar Marketplace Intel Report, which provides pricing, equipment and consumer preference trends within the U.S. residential solar and storage industries. Among the many finds, one significant trend shows that energy storage pricing is increasing while solar system costs continue to decline.
Quoted solar prices on EnergySage have dropped over 6% year-over-year, while quoted prices for storage are on the rise. The median storage price on EnergySage increased 10% on a cost per kilowatt-hour basis from Q3 2020 to Q2 2021.
With the release of Enphase’s AC battery, the energy company has overtaken both LG and Tesla as the most frequently quoted battery brand on EnergySage. Together, these three brands account for over 85% of storage quotes on EnergySage over the last year. Additionally, two newer entrants to the battery market, Q CELLS and NeoVolta, surpassed Tesla as the least expensive battery brands offered on the Marketplace.
“The consumer demand we’re seeing for energy storage on our platform is remarkable,” said EnergySage CEO and founder Vikram Aggarwal. “It’s a rapidly evolving industry. Between supply constraints and shortages, and a growing number of players entering the market, there’s bound to be a lot of movement at the top and with respect to price. The activity on our Marketplace is an excellent source for anyone looking to benchmark this dynamic and fast-growing industry.”
The report is an analysis of solar and battery quotes submitted to homeowners shopping on EnergySage.com by solar companies in 37 states and Washington, D.C., from July 2020 through June 2021. The latest Solar Marketplace Intel Report can be downloaded for free in its entirety at energysage.com/data.