US residential solar prices increase as supply chain constraints bite

Mar 18, 2022 03:56 PM ET
  • The quoted price of residential solar in the United States inched up in the second fifty percent of last year, more than likely due to the results of supply chain constraints and shortages, new research from marketplace carrier EnergySage has actually disclosed.
US residential solar prices increase as supply chain constraints bite
Image: REC Solar

Median quoted solar prices increased over a six month duration for the first time because EnergySage started tracking prices in 2014. They climbed by 0.4% to US$ 2.68/ W between the first as well as second half of 2021, according to the company's most current Solar Marketplace Intel Report, which offers insight on pricing, equipment and consumer preference in the US residential solar and energy storage space industries.

For the 3rd half-year straight, Arizona saw the lowest median quoted solar expenses at US$ 2.25, while in H2 Indiana overtook Colorado for the greatest median expense at US$ 3.27/ W.

Majority of solar installers that reacted to an EnergySage study reported that supply chain constraints have either slightly or significantly harmed their firm's year-over-year change in sales, while about two-thirds of installers indicated that availability of photovoltaic panels and also residential batteries has either slightly or dramatically decreased.

The findings tally with research study released recently by the Solar Energy Industries Association (SEIA), which located that while a record 4.2 GWdc of residential solar was installed in 2021, raised element pricing as well as supply chain concerns aggravated throughout the year, with numerous market gamers experiencing limited module as well as battery accessibility in Q4 and also heading into 2022.

According to EnergySage, 3 panel brands-- Panasonic, REC as well as LG Solar-- controlled residential solar marketplace share in H1 2021, but each of their shares declined in H2, when Silfab Solar overtook LG Solar to tie with REC in second place.

In the 2nd fifty percent of last year, 6 of the 10 most frequently quoted photovoltaic panels on EnergySage were ranked 360-- 370W, while panels above 400W made up 16% of all quotes, greater than any other six-month period.

On the inverter front, Enphase preserved its development on EnergySage's marketplace with the majority of the marketplace share, while SolarEdge shed some marketplace share, dropping from 32% in H1 2021 to 29% in H2 2021.

In regards to energy storage space, financial savings overtook emergency back-up power as well as strength as the main vehicle driver of storage space interest in the second fifty percent of 2021, with 70% of all EnergySage solar consumers asking for storage space quotes when they sign up. For the year as a whole, 13% of residential solar systems installed through EnergySage included energy storage, up from 9% in 2020.

Nationwide, the installed cost of residential energy storage space increased 5% between H1 and H2 2022 to US$ 1,289/ kWh. The three most quoted battery brand names-- Enphase, LG Energy Solution and Tesla-- made up 86% of all quotes submitted in the second fifty percent of the year.

Publication of the report comes a month after French electrical equipment group Schneider obtained a managing stake in EnergySage, with the marketplace now wanting to scale its procedures globally.

Solar Installers, Manufacturers