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					</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

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