If you want to switch to clean energy sources but are afraid it will break the bank, you're in luck. Residential solar prices have reached an all-time low, which makes it the perfect time to upgrade your home.
According to EnergySage's 19th Solar and Storage Marketplace Report, with data from the first half of 2024, solar prices fell to $2.69 per watt. This is the lowest quoted price EnergySage has recorded since it started tracking prices in 2014.
The energy storage cost has fallen to $1,133 per kilowatt-hour, which is also a record low.
"We're at a pivotal moment for solar pricing, where ongoing cost reductions are enabling more homeowners to make the switch to clean energy," said Spencer Fields, EnergySage director of insights.
EnergySage can also save you money. It has free tools that help you get the best price on installation with a search engine that lets you compare options, similar to picking the best flight deal. A solar calculator shows how much money you will save on your electric bills.
The solar energy company will also help you navigate receiving rebates and tax incentives for installing solar panels. EnergySage offers advisers to help you be confident in your choice.
Solar panels can be an excellent tool for building energy resilience in communities. According to the Department of Energy, if a local utility is shut down because of a natural disaster, it can switch to solar energy battery power to ensure that residents have power.
The DOE also noted that solar power plays a key role in mitigating the polluting gases that warm the planet. The renewable energy improves air quality since it doesn't emit toxic gases and "reduce[s] water use from energy production."
Switching to solar panels is a great way to reduce your electricity bills and help the environment, but there are other ways to lower your utility bills. Those include upgrading to LEDs, washing clothes in cold water, weatherizing your home, and switching to a heat pump water heater.
🗣️ If you were to install home solar panels, which of these factors would be your primary motivation?
🔘 Energy independence ⚡
🔘 Lower power bills 💰
🔘 Helping the planet 🌎
🔘 No chance I ever go solar 🚫
🗳️ Click your choice to see results and speak your mind
"We've seen a significant increase in storage adoption, driven by evolving policies, lower lithium prices, and consumer demand for energy resilience," EnergySage senior research analyst Emily Walker said.
💡Solar quotes you can trust
Want to go solar but not sure who to trust? EnergySage has your back with transparent quotes from fully vetted providers in your area.
Use EnergySage's free tool today to cut through the noise, compare prices, and see how much you can save.
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