Outlook for Home Solar & Battery Systems in 2024

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Last Updated on: 17th January 2024, 09:43 pm

If your New Year’s resolution this year is to finally get that solar and battery system you’ve been dreaming about, then kudos to you. Home solar and battery backup systems have the power (see what I did there?) to liberate you from your utility bill, from power outages, and from any eco-guilt you have around that 92″ TV. The solar market is always up and down (they don’t call it the solar-coaster for nothing), so knowing what’s around and when is helpful when deciding when to pull the trigger on an investment in solar. Here are some key trends and opportunities in the space.

First, only about 1 in 20 homes in the US have solar, compared to 1 in 3 in Australia, and 1 in 5 in cloudy, cold Germany. So, there’s a ton of opportunity in the US. Solar, in general, is poised to overtake hydropower as the biggest source of carbon-less electricity this year!

There are also good incentives, at federal, state, and utility levels. There are new, more efficient panels, more aesthetically pleasing panels, more diversity and better quality batteries, and even some V2G technology, allowing electric cars to power a house and act as an additional house battery.

So, I turned to Marcus Joo, cofounder and Chief Learning Officer at EnergyPal, who’s been working in home solar for almost 20 years (including a “groupon for solar,” which we talk about), to dive into all that home solar has going for it, and where he sees the best opportunities for homeowners this year.

For those interested, EnergyPal does a great job of providing a ton of free information about pricing, and other aspects of solar installs, and connecting homeowners with high-integrity contractors to get the job done if they want to move forward.

Check out my interview with Marcus, below, to learn everything you need to know about home solar.