Latest EnergySage marketplace report shows quoted battery prices are rising
EnergySage released its 13th today Solar Marketplace Intel Report, which provides pricing, equipment and consumer preferences trends within the U.S. residential solar and storage industries. One of the many finds is that a major trend shows that energy storage prices are rising, while the cost of the solar system continues to fall.
Quoted solar prices on EnergySage are down more than 6% year-over-year, while quoted storage prices are rising. The median storage price on EnergySage increased 10% on a cost-per-kilowatt-hour basis from Q3 2020 to Q2 2021.
With the release of Enphase’s AC battery, the power company has overtaken both LG and Tesla as the most cited battery brand on EnergySage. Together, these three brands accounted for more than 85% of the storage quotes on EnergySage in the past year. In addition, two newer players in the battery market, Q CELLS and NeoVolta, surpassed Tesla as the cheapest battery brands offered on the Marketplace.
“The consumer demand we see for energy storage on our platform is remarkable,” said EnergySage CEO and Founder Vikram Aggarwal. “It is a rapidly evolving industry. Between supply constraints and shortages and a growing number of players entering the market, there will undoubtedly be a lot of movement at the top and in terms of price. The activity in our Marketplace is an excellent resource for anyone looking to benchmark this dynamic and fast-growing industry.”
The report is an analysis of solar and battery bids submitted to homeowners shopping on EnergySage.com by solar companies in 37 states and Washington, DC, from July 2020 to June 2021. The latest Solar Marketplace Intel report can be downloaded in its entirety for free At energysage.com/data.