Last month, EnergySage released our tenth Solar Marketplace Intel Report. The free, publicly available report provides insight into the state of the solar market nationwide and at the state level through the end of 2019. While this particular report showcases entirely data from prior to the coronavirus pandemic, the look at 2019 solar data demonstrates the strength of the industry heading into the nationwide shutdowns. A few key takeaways from the report are outlined below, and we look forward to your analysis and feedback on the report.
Power shutoffs lead to a spike in solar and storage interest
In October 2019, electric utility companies in California began implementing the practice of public safety power shutoff (PSPS) events in order to mitigate the threat of wildfires in the state. During these events, millions of electricity customers saw their power shutoff, often for days at a time.
In the weeks during and following the PSPS events, EnergySage saw an increase in both solar and storage interest on the Marketplace. For instance, during the week of October 6th, when Pacific Gas & Electric–the state’s largest utility–called two PSPS events, daily registrations for EnergySage from the utility’s service territory doubled: twice as many people were seeking solar quotes as during a normal week.
The same holds true for storage, as California customers sought not just clean, predictable solar energy but also the backup power and reliability of pairing solar with a home energy battery. Around the second series of PSPS events at the end of the month, energy storage articles on EnergySage received twice as many visits as usual from California.
Solar prices continue to drop in major markets
As the solar industry continues to mature and become more mainstream throughout the country, the largest state markets have begun to see more stable, consistent pricing declines. In fact, from July 2018 through the end of 2019, solar prices decreased predictably in the largest residential solar markets in the country, with prices decreasing in 7 of the 10 largest state markets in the second half of 2019. Between the first and second half of 2019, Arizona, Connecticut, and Nevada saw the biggest decrease in price.
Solar prices rarely exceed $4 per Watt on EnergySage
As the cost of solar has continued to drop throughout the country, the number of higher-priced quotes for solar have dropped precipitously on EnergySage. In fact, only one out of every fifty quotes for solar was at or above $4 per Watt on EnergySage in 2019. As a solar shopper on EnergySage, this translates to saved cash in your pocket: for a standard solar system between 7 to 10 kilowatts (kW), a $4 per Watt quote is $8,000 to $11,000 more expensive than the median solar price on EnergySage.
Explore solar data and costs in your area on EnergySage
Our mission at EnergySage is to make the solar industry more transparent and accessible for everyone. To that end, we publish solar industry pricing and equipment information across our website, both in reports like our biannual Solar Marketplace Intel report, as well as on individual state, county and city cost pages.
To learn more about solar–and the costs and benefits of going solar where you live–check out the EnergySage Solar Calculator for a geographically-specific estimate and solar savings, or register for the EnergySage Marketplace to receive free, custom quotes from local solar installation companies.