Check out the EnergySage Marketplace to compare free quotes from pre-vetted solar installers. The cost of solar is typically reported in dollars per watt ($/W), which is the industry's equivalent to comparing real estate in dollars per square foot: it's a metric that allows you to compare solar quotes of different system sizes.
In the most recent Tracking the Sun report, LBNL found the median installed cost of residential solar systems in the US was $3.8 per watt. In addition to reports on the cost of solar in quoted solar panel systems and installed systems, there are a couple of primary sources for "bottom-up" solar price forecasts.
India: Slight price increases for DCR-compliant modules, driven by government-backed solar PV projects and higher costs for some BOM affected by anti-dumping duties. However, prices for imported modules have declined slightly due to oversupply. United States: FOB prices have remained stable for now.
On EnergySage, we see a median $/kWh stored in the $1,100-$1,400/kWh range, inclusive of installed costs, and is incremental to the cost of a solar panel system. This pricing varies by state, brand, and battery chemistry type.
EnergySage is the only source of quote-level solar and storage data. This article collects some of the best data from our Marketplace and other industry sources. See something you're interested in or curious about using EnergySage data? Feel free to reach out to our data team directly.
Both of these sources provide additional data points for the storage pricing trends seen on EnergySage: SGIP applications in 2021 included a median cost of storage of $1,061/kWh, below the costs observed on EnergySage, while LBNL reports that adding storage can increase the cost of a solar installation by a third.
The global residential solar storage and inverter market is experiencing rapid expansion, with demand increasing by over 300% in the past three years. Home energy storage solutions now account for approximately 35% of all new residential solar installations worldwide. North America leads with 38% market share, driven by homeowner energy independence goals and federal tax credits that reduce total system costs by 26-30%. Europe follows with 32% market share, where standardized home storage designs have cut installation timelines by 55% compared to custom solutions. Asia-Pacific represents the fastest-growing region at 45% CAGR, with manufacturing innovations reducing system prices by 18% annually. Emerging markets are adopting residential storage for backup power and energy cost reduction, with typical payback periods of 4-7 years. Modern home installations now feature integrated systems with 10-30kWh capacity at costs below $700/kWh for complete residential energy solutions.
Technological advancements are dramatically improving home solar storage and inverter performance while reducing costs. Next-generation battery management systems maintain optimal performance with 40% less energy loss, extending battery lifespan to 15+ years. Standardized plug-and-play designs have reduced installation costs from $1,200/kW to $650/kW since 2022. Smart integration features now allow home systems to operate as virtual power plants, increasing homeowner savings by 35% through time-of-use optimization and grid services. Safety innovations including multi-stage protection and thermal management systems have reduced insurance premiums by 25% for solar storage installations. New modular designs enable capacity expansion through simple battery additions at just $600/kWh for incremental storage. These innovations have improved ROI significantly, with residential projects typically achieving payback in 5-8 years depending on local electricity rates and incentive programs. Recent pricing trends show standard home systems (5-10kWh) starting at $8,000 and premium systems (15-20kWh) from $12,000, with financing options available for homeowners.