The recent years have brought a series of natural disasters that impacted electrical grids and raised awareness of grid resilience as both an infrastructure issue and a very personal issue in consumers' lives as they struggled through a pandemic with power outages caused by weather or fires. Meanwhile, new technology innovations and trends such as the push to electrify our automotive fleet will substantially increase energy demand in the near future. With climate change disasters happening today and the EV revolution coming tomorrow, there is a significant opportunity for solar and storage providers to deliver solutions to support a lower-carbon and more resilient smart home of the future. This industry report addresses established leaders and notable new entrants who are leveraging solar and storage solutions to help consumers save money, meet rising energy demand, and even reduce their environmental impact.
Bottom line
Demand for Renewable Energy
Consumer Adoption and Purchase Channels
Costs Savings and Backup Power at Home
Purchase Drivers
The Players in the Home Solar Market
Leading Solar Providers
Components of a Home Solar System
Solar Panels and Solar Shingles – Key Players
Inverters and Controllers – Key Players
Batteries – Key Players
Market Drivers and Barriers
Market Drivers
Market Barriers
Policy Impact and Implications
Inflation Reduction Act (IRA)
Bipartisan Infrastructure Law (BIL)
Net metering
Solar’s Impact on Construction and the Connected Home
Solar and Home Builders
Solar as part of home energy management
Appendix
Companies Researched or Interviewed for Report
List of Figures
Citations
Attribution
Perception of Electricity Bill by Income
Consumer Perception Regarding Renewable Energy Sources
Ownership of Major Home Energy Equipment
Most Appeal Purchase Channel of Solar PV and Battery Storage
Purchase Drivers of Solar Panels
The Home Solar Ecosystem
Leading Solar Providers
Solar Providers and Operating States
Example Device Configuration
Panel and Shingle OEMs
Inverter OEMs
Battery OEMs
High Intention of Purchasing Solar Power Generator Panels
High Familiarity with Solar Panel Generators
Data Included in Creating the Forecast
Residential Solar and Storage Revenue Forecast - US
© February 2023 Parks Associates
All rights reserved. No part of this book may be reproduced, in any form or by any means, without permission in writing from the publisher.
Printed in the United States of America.
Disclaimer
Parks Associates has made every reasonable effort to ensure that all information in this report is correct. We assume no responsibility for any inadvertent errors.
ADT Solar
Austin Energy
CPS Energy
EnergySage
Enphase
Fortress
GAF Energy
Generac
Georgia Power Company
Google
GreenTech Renewables
Hanwha Q CELLS
LG Energy Solution
Native Solar
NextEra Energy
Maxeon
O3 Energy
Panasonic Energy Solutions
REC
Savant Power
Schneider Electric
Silicon Labs
SmartThings
Sol Ark
SolarEdge
Sonnen
Sunnova
SunPower
SunPro
Sunrun
Tesla Energy
Texas Solar Energy Society
