US residential solar quotes hit average of $2.85 per watt

From pv magazine USA

EnergySage, a residential solar and storage informational site, has released its semiannual market report. The report analyzes millions of transaction-level data points gathered from quotes sent to homeowners shopping on the website throughout 2022.

Quoted residential solar prices rose in 2022, climbing 6.7% from 2021 prices, when they reached a new bottom. The average price for solar quoted on EnergySage was $2.85 per watt in 2022.

Energy storage increased in quote prices in 2022 as well, rising by $50 per kilowatt-hour stored, or about 4%, from 2021 to 2022. EnergySage said most quoted battery prices fall between $13,000 and $18,000 for a single battery. Median storage pricing has risen from $1,140 in H2 2020 to $1,339 in the second half of 2022.

The average quoted system size increased slightly as well, with systems averaging 10.9 kW, up from 10.2 kW from the previous year. Estimated payback periods shortened slightly, as rising utility bills outpaced rising installed solar array costs.

To continue reading, please visit our pv magazine USA website.