Insights Newsletter #6
Check out the latest solar energy updates, reports, and a new platform to recruit solar professionals!
Happy Friday (the 13th)!
Welcome to the latest edition of the Solar Business Insights bi-weekly newsletter! We’re happy you’re here.
Stay up to date on the latest solar market trends, technology, policy updates, strategies, and more. We do the research on each topic and gain insights from solar professionals. Our goal is to provide everything you need to know about solar business, all in one place.
Each newsletter starts with a question with answers from the solar business community.
Question of the week:
Q: What is your favorite battery company?
A: Enphase batteries integrated with their cloud system in one interface. It is a lithium iron phosphate battery, which is best for safety and longevity. Enphase’s customer service is also top tier.
Want to share your answer? Submit your review on this form.
Have a question, idea, thought, or comment? Send them our way.
Solar Market Trends
The latest Tracking the Sun report from the Lawrence Berkeley National Laboratory (LBNL) is officially available. The report provides market trends about solar project characteristics, median installed price trends, and price variability based on 3.2 million solar panel systems installed in 2022.
The (free) report from LBNL is a valuable resource for solar business to gain insights to inform operations, strategy, and decision-making based on the evolving solar energy market. Here are a few points we found interesting.
Third-party ownership (TPO) in the residential sample has declined over time from its historical high of about 60% in 2012 to 25% in 2022. This reflects the need for increased loan products in the residential sector.
Non-profit organizations are most commonly found among tax-exempt site hosts in the small non-residential market, whereas schools and government facilities are more frequently found in the large non-residential segment.
Storage attachment rates are rising with 10% adding battery storage for residential and 7% for non-residential in 2022.
Solar Technology & Innovation
Solar job technology: Is your solar business having trouble finding qualified candidates? Waivolt is here to help you find the right fit. You can explore candidate profiles specifically in the solar field, send messages, receive email updates about newly added profiles, and much more.
As THE solar professional hiring platform, Waivolt conversations have a higher response rate than just a cold email or LinkedIn message.
For professionals: Create a free profile featuring your experience, skills, and location.
For recruiters: Search profiles and contact professionals about your opportunities.
Solar innovation: MIT engineers created solar cells thinner than human hair using semiconducting inks and a scalable printing process. The cells produce 18 times more power per kilogram than traditional solar panels.
So what? These cells could lead to more efficient and cost-effective solar solutions – both attractive elements to customers. Thin solar cells open opportunities to install solar on a variety of surfaces, like portable devices.
Durability is still a challenge, but the technology could transform and expand the solar industry.
Regulatory & Incentive Updates
California: The September 30 deadline for the Solar Access Act passed, which requires cities in California to adopt instant online permitting for residential solar and storage. Here is an interactive map to view updates based on the city.
New York: Governor Kathy Hocul signed a bill to increase the solar property tax abatement in New York City from 20% to 30%. The abatement runs through 2024 and can be applied to battery storage and parking canopies.
North Carolina: Beginning on October 1, Duke Energy’s solar customers are switching from net metering to a time of use system. Customers are now compensated for excess energy produced by their panels based on the cost of energy at that time. Customers with solar installed prior to the Oct. 1 deadline can remain on current rates for 3 years.
Oregon: A new battery storage incentive is available for Oregon homeowners from Energy Trust up to $3,000. Income-qualified homes may qualify for a battery storage incentive up to $10,000.
Business Strategy & Funding
Cost is a major factor preventing homeowners from transitioning to clean energy. We know this. We experience this challenge daily. What homeowners don’t know is the potential long term savings and other factors that make solar worthwhile.
FranklinWH, an energy storage company, released a survey showing homeowners have interest in solar panels and battery backup systems, but are not aware of the benefits and available resources.
What this means: Consider providing educational resources for your current and future customers. Even if the first time is a no, providing additional information about benefits and
The Department of Energy and Sunnova finalized Project Hestia, providing $5 billion in loans to fund renewable energy projects in disadvantaged communities. This program is expected to provide loans for 75,000 to 115,000 US homeowners.
This partnership between the DOE and Sunnova is huge for solar businesses because it provides financial support and promotes clean energy adoption in more communities.
Upcoming Events & Conferences
Energy Storage North America: November 7-8, Houston, TX
Solar+ Manufacturing Summit: November 15th, Chicago, IL
Searching for more ways to stay connected? Check out Solar Business Insights on LinkedIn or send us a message here.
Have a fantastic weekend!
The purpose of this newsletter is to stay informed on business in the solar industry. Advice or opinions may be included, but any actions taken are at your own risk. This page includes some referral links, meaning we may earn a commission if you make a purchase, it is not an added cost. By using our referral links, you are helping support Solar Business Insights. Please contact us with any questions.