EnergySage Marketplace Intel Report Shows Shift in Solar Pricing and Preferences – pv magazine USA

EnergySage has released its 15th “Solar Marketplace Intel Report”. Semi-annual reports examine quotes sent to EnergySage.com shoppers over the past year and analyze data points to determine trends and prices for purchasing solar panels and batteries from solar companies in 39 states and Washington DC. I’m looking into

Three key insights from this latest report can be downloaded completely free of charge at energysage.com/dataprice increases, market share changes, and an increase in energy storage acquisitions.

PV prices rise again

For the second half of the year in a row, solar prices on the EnergySage Marketplace rose, this time up 3.4% to $2.77 per watt. Price he hasn’t been seen since 2020. Despite price increases, the average size of cited systems remained relatively stable, declining from 10.3 kilowatts (kW) in the second half of 2021 to 10.2 kW in the first half of 2022. As a result, the payback period increased from an average of 8.7. 9.1 years from the year.

The list of the top five geographic solar states remained unchanged, with four out of five (excluding North Carolina) having lower median EnergySage than the national median. Pricing in California was similar to national sales, with most quotes between $2.25 and $3.00/W. The solar price distributions in Texas, Florida, and Arizona are all below the national distribution, with at least two-thirds of the estimates ranging from $2.00 to $2.75/W. The highest was $3.64/week in Minnesota and the lowest was $2.25/week in Arizona.

Looking at system sizes, the most frequently cited panel wattage increased from 360/370 watts in 2021 to 390/400 watts in the first half of 2022. About a third of the solar panels cited by EnergySage in the first half of 2022 are rated at 390-400 watts, compared to 360-370 watts in the second half of 2021. Significantly, half of the estimates for the first half of 2022 are 390-watt panels, up from 16% in the second half of 2021.

Changes in Market Share of Modules and Inverters

In the first half of 2022, the top four most-cited module brands have earned new positions: REC has overtaken Panasonic as the most-cited brand, and Qcells has taken third place from Silfab Solar.

Overall, market share consolidation decreased slightly as the top three panel brands fell from a combined estimated 66% share in H2 2021 to 59% in H1 2022.

The size of the system varies greatly by state and region. For example, the estimated average system size in California is about 8 kW, while in Arkansas it is 14.55 kW. However, half of the states analyzed were within 1 kW of the national average for three consecutive six months.

In the inverter segment, Enphase remained the most cited brand despite losing 4% of market share. As for battery storage, Enphase was once again the most frequently cited option, coming in at his 45% of all storage estimates. Generac’s market share will see its biggest growth from late 2021 to early 2022, he said, at 7%. During this period, LG Energy Solution’s marketplace share fell by 10% at EnergySage.

In the first half of 2022, the price gap between panel and inverter combinations narrowed. For example, the difference in estimates for Enphase inverters compared to SolarEdge inverters has decreased from his 4.2% in the second half of 2021 to just 3.4%. Better than the cheapest paired Qcells with SolarEdge inverters.

Storage on the Rise, Policy Drives Decisions

Median storage prices increased by $1/kWh or 0.04%, but this did not deter shoppers. In the first half of 2022, just over 17% of his shoppers purchased batteries with solar systems, while in the second half of 2021 he increased from 1.5% to 15.5%. The median system size quoted was 10.1 kWh in 9 of the 10 states. , with estimates ranging from about $12,000 to $16,000.

One of the most-cited reasons why solar shoppers buy storage was to save money on their utility bills. Geographically, shoppers in Tennessee were most likely to receive a storage quote (94%), followed by Georgia (85%). why? None of these states have a net metering policy.

In terms of storage market share, EnergySage provided estimates for 20 battery storage brands in the first half of 2022. Enphase topped the charts, offering at 45% of all estimates, while Generac’s share grew the most from his 2% to 9%. This is the first time SolarEdge Energy Bank has been featured in the data, accounting for 5% of the estimate. LG Energy’s share fell by 10% over the same period.

It was also pointed out that cost does not determine storage’s market position. For example, in the first half of 2022, his seven brands that fell below the $1,000 per kWh storage threshold accounted for only 1.1% of his estimated storage. These brands include BYD Battery Box, SimpliPhi Power, Homegrid Energy, Tigo Energy, FNS Power, Lion Energy and Q CELLS. On the other hand, Enphase, which received the most quotes, is also the most costly option.

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