L R AS Published on Sunday 17 September 2023 - n° 457 - Categories:the American PV

Residential electricity prices rise by 2% in the United States at the end of June 2023

The US information website EnergySage estimates that the average price of residential solar electricity over the period June 2022 to July 2023 will reach $2.90/W in the first half of 2023, an increase of 1.8%.

The company says that prices are easing off, falling by 3.5% at the start of Q3 2023. They were at $2.67/W in thefirst half of 2021.

Energy storage prices also rose by 1% in the first half of 2023. More than 50% of solar quotes on EnergySage included a battery. This trend continues to rise steadily. Storage in the first half of 2023 averaged $1,352 per kWh. Batteries are often 10 kWh in size in major markets.

Many companies suffered sales declines in 2023. Rising interest rates and drastic reductions in offsets for exporting solar energy or net energy metering have put the brakes on installation rates.

Interest rates rose from 2.99% in the second half of the year to 4.99% over 25 years in thefirst half of 2023.

The estimated average payback period for residential solar power is 8.3 years, or an average of 10.4 kW.


PV Magazine 11 September 2023

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