Published on April 6th, 2016 | by Joshua S Hill13
Solar Prices Continue To Decline As US Consumers Increasingly Shop Around
April 6th, 2016 by Joshua S Hill
EnergySage has published its second semi-annual Solar Marketplace Intel Report, revealing that solar prices are continuing to decline at the same time as consumers are shopping around more and more for the best price.
EnergySage, the first comprehensive online marketplace for consumers and businesses interested in converting to solar energy, published its Solar Marketplace Intel Report this week, providing some interesting insights into the US residential solar marketplace. Specifically, although perhaps somewhat unsurprisingly, solar prices have continued to decline. EnergySage revealed that between the second half of 2014 through to the second half of 2015, the average gross price per watt in the US dropped from $3.86 to $3.69 — nearly a 5% reduction.
Additionally, and again somewhat unsurprisingly due to the increasing awareness of residential solar, consumers are shopping around more and more these days for a better price. According to EnergySage, one third of solar shoppers on EnergySage joined with a pre-existing solar quote in hand, typically from one of the larger solar leasing companies.
“The Solar Marketplace Intel Report is representative of where the solar industry is headed,” said EnergySage CEO Vikram Aggarwal. “As the market continues to mature and become more transparent, the buying and selling of solar will naturally become easier and more efficient, for all parties involved. And as our data shows, we’re seeing this trend hold true for consumers who are increasingly seeking the benefits of online comparison-shopping through our Solar Marketplace.”
EnergySage provides consumers with an impressive selection of pre-screened solar installers and financiers, and in 2015 alone helped over 500,000 solar shoppers research and explore solar, resulting in more than $30 million in solar PV system transactions. This information is the backbone for EnergySage’s Intel Reports, providing a unique insight into solar pricing and consumer trends.