South Africa Awards 16 Solar and Battery Energy Storage Projects in REIPPPP Auction

Lowest Wind-Solar Hybrid Power Tariffs in 2024 [Infographics]

Mercom India’s Most Read News Stories from 2024

Punjab Awards 264 MW Solar Projects to VP Solar Generation Under KUSUM

Major Events that Impacted the Indian Solar Sector in 2024

SECI Tenders 125 MW/500 MWh Battery Energy Storage System in Kerala

Daily News Wrap-Up: APTEL Upholds Wind Power Firms’ Right to Terminate PPAs

Rajasthan Issues Empanelment Tender for 511 MW of Rooftop Solar Projects

APTEL Upholds Two Andhra Pradesh Wind Power Companies’ Right to Terminate PPAs

UltraTech Cement to Source Wind-Solar Hybrid Power from Clean Max


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/02/amazon_polly_63741.mp3?version=1715948450">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Solar prices fell for the first time since mid-2021 in the U.S., dropping 3.5% to $2.80/W in the second half (H2) of 2023, highlighting a residential solar market plagued by high inflation and changes to net metering policies, according to a report by <a href="https://www.energysage.com/" target="_blank" rel="noopener">EnergySage</a>.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-63755 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/Energysage-Chart-1-1.png" alt="Energysage Chart 1" width="782" height="637" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/Energysage-Chart-1-1.png 782w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/Energysage-Chart-1-1-300x244.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/Energysage-Chart-1-1-768x626.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/Energysage-Chart-1-1-650x529.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/Energysage-Chart-1-1-624x508.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/Energysage-Chart-1-1-600x489.png 600w" sizes="(max-width: 782px) 100vw, 782px" /></p>
<p>The company analyzed quotes submitted by solar companies to shoppers, comparing trends throughout the year.</p>
<p>Despite the downturn, consumer demand remained strong. The median quoted solar system size increased by half a kilowatt to 11.3 kW in H2 of 2023 as homeowners looked to offset higher-than-average electricity bills. Installers also quoted larger, 400+ watt solar panels, which were included in 90% of EnergySage&#8217;s quotes, up from just 2% in 2020.</p>
<p>&#8220;Despite the slowdown in 2023, we continue to see strong consumer demand for solar energy solutions,&#8221; said EnergySage CEO Vikram Aggarwal.</p>
<p>Arizona has had the lowest median quoted solar costs for three consecutive years, while Tennessee surpassed Indiana as the state with the highest median solar cost.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-63762 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-2-2.png" alt="EnergySage Chart 2" width="501" height="661" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-2-2.png 501w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-2-2-227x300.png 227w" sizes="(max-width: 501px) 100vw, 501px" /></p>
<p>The growth in the residential solar market was <a href="https://www.mercomindia.com/us-solar-power-capacity-soars-reflecting-35-yoy-rise" target="_blank" rel="noopener">facing headwinds</a> from rising interest rates, notably impacting price-sensitive markets like Texas, Arizona, and Florida, according to a Wood Mackenzie report published late last year.</p>
<p><strong>Battery Storage Takes Off</strong></p>
<p>The report also found that storage attachment rates rose by 10% to 61% in the country, and the median storage pricing fell for the first time since 2020, dropping 6.4% to $1,265 per kWh stored. The decrease in pricing was driven primarily by <a href="https://www.tesla.com/powerwall" target="_blank" rel="noopener">Tesla</a> and <a href="https://www.franklinwh.com/" target="_blank" rel="noopener">FranklinWH</a>.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-63757 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-3-1.png" alt="EnergySage Chart 3" width="887" height="665" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-3-1.png 887w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-3-1-300x225.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-3-1-768x576.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-3-1-650x487.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-3-1-624x468.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-3-1-600x450.png 600w" sizes="(max-width: 887px) 100vw, 887px" /></p>
<p>California saw the biggest jump in storage attachment rate, by nearly 45%, following the implementation of the controversial Net Billing Tariff in April, which significantly reduces the savings benefit of solar-only systems.</p>
<p>Of the companies EnergySage tracks, <a href="https://enphase.com/" target="_blank" rel="noopener">Enphase</a> and Tesla were the two most quoted battery brands, appearing in two-thirds of storage quotes. FranklinWH gained the most market share, growing from 1% of quotes in H2 2022 to 11% of quotes in H2 2023.</p>
<p>Financial savings, maximizing self-consumption, and backup power were the main contributors to consumer interest in storage. Seven out of 10 solar shoppers requested battery quotes on EnergySage throughout 2023.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-63758 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-4-1.png" alt="EnergySage Chart 4" width="758" height="691" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-4-1.png 758w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-4-1-300x273.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-4-1-650x593.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-4-1-624x569.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-4-1-600x547.png 600w" sizes="(max-width: 758px) 100vw, 758px" /></p>
<p><strong>Brand Preference</strong></p>
<p>During H2 2023, <a href="https://www.recgroup.com/en/home-solar-panels-commercial-utility-scale-solar-solutions" target="_blank" rel="noopener">REC</a> became the top quoted solar panel brand on EnergySage, overtaking <a href="https://www.q-cells.eu/en/" target="_blank" rel="noopener">QCells</a>. At the same time, <a href="https://www.solaredge.com/us/" target="_blank" rel="noopener">SolarEdge</a>&#8216;s share dropped from over 30% in early 2022 to under 10% in late 2023.</p>
<p><a href="https://waareetech.com/" target="_blank" rel="noopener">Waaree</a> panels were in 5% of quotes, which were usually paired with SunPower inverters and quoted for $0.78/W more than the lowest-priced option. <a href="https://us.sunpower.com/" target="_blank" rel="noopener">SunPower</a> was the most expensive equipment package on the marketplace.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-63760 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-5-1.png" alt="EnergySage Chart 5" width="1152" height="613" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-5-1.png 1152w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-5-1-300x160.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-5-1-768x409.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-5-1-650x346.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-5-1-624x332.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/02/EnergySage-Chart-5-1-600x319.png 600w" sizes="(max-width: 1152px) 100vw, 1152px" /></p>
<p>In 2022, France-based Schneider Electric <a href="https://www.mercomindia.com/funding-and-ma-roundup-clean-energy-palmetto" target="_blank" rel="noopener">acquired</a> a controlling stake in EnergySage.</p>


US Residential Solar Prices Drop in Second Half of 2023 Amid Slowing Demand

energysage

Get the most relevant India solar and clean energy news.

RECENT POSTS