Get the latest insights and trends from EnergySage’s recent report on solar-plus-storage. As homeowners increasingly seek to maximize their energy independence and savings, solar-plus-storage systems have emerged as a compelling solution. In this blog post by Green Home Systems, we’ll explore the latest trends and insights from EnergySage, shedding light on the evolving landscape of energy storage solutions in conjunction with solar panel systems.
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Rise of Solar-Plus-Storage
In recent years, the integration of energy storage solutions with solar panel systems has gained significant traction. According to data from EnergySage, during the second half of 2023, 61% of solar quotes also included a battery, marking a 10 percentage point increase compared to the first half of the year.
Storage Pricing Trends
After three years of consistent increases, storage pricing experienced a notable decrease in the second half of 2023. This shift marked the first decline since EnergySage began tracking storage pricing in July 2020, with the median price dropping by 6.4% compared to the first six months of the year.
The U.S. storage market has witnessed significant expansion, with nearly a quarter of all solar panel systems sold through EnergySage including a battery in the second half of 2023, up from just 10% in the first half of the year. As storage installations have increased, the landscape of battery brands has evolved rapidly. During the latter half of 2023, Enphase remained one of the most quoted battery brand on EnergySage, appearing in two-thirds of storage quotes. However, FranklinWH emerged as the fastest-growing brand, increasing its marketplace share from 1% to 11% over the same period. The drop in storage pricing was primarily driven by FranklinWH, which were priced similarly at around $1,100/kWh-stored.
Consumer Preferences
Consumer interest in energy storage remains high, with seven out of ten solar shoppers requesting battery quotes on EnergySage throughout 2023. Financial savings, maximizing self-consumption, and backup power were identified as the primary motivators for storage interest, each accounting for more than 30% of consumer inquiries. Moreover, as the storage market reaches new homeowners, the drivers of interest in storage continue to evolve, reflecting changing consumer priorities and preferences.
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California’s Storage Surge
Despite historically lower levels of interest, California experienced a sharp increase in storage inquiries following the implementation of the Net Billing Tariff in April. In the second half of 2023, California saw the fifth-highest storage interest rate in the country, with four out of five EnergySage shoppers requesting storage quotes. This significant shift underscores the impact of policy changes and regulatory incentives on consumer behavior, highlighting the pivotal role of government initiatives in driving renewable energy adoption at the state level.
By examining these key findings from EnergySage’s report, we gain valuable insights into the dynamic landscape of solar-plus-storage and the evolving preferences of homeowners across the United States. As the residential energy sector continues to embrace clean energy solutions, understanding these trends is essential for both industry stakeholders and consumers alike.
Conclusion
As the solar-plus-storage market continues to evolve, homeowners have more options than ever to enhance their energy independence and savings. With decreasing storage prices, expanding marketplace options, and growing consumer interest, now is an opportune time for homeowners to explore the benefits of solar-plus-storage solutions. Stay tuned to EnergySage for further insights and updates on the dynamic renewable energy landscape.
