Energy storage for solar at record high interest and record low prices

In the first half of 2024, more than a third of homeowners who bought solar panels through Energy Sage, also purchased a battery according to the company’s 19th semiannual “Solar & Storage Marketplace Report. Just a year ago, only around 10 percent of customers attached storage to their systems. The company points to increased demand and falling prices as key reasons that have led to more storage adoption.

Customers pointed to backup power, self-supply, and savings on utility rates as key reasons to install storage.

“Severe weather events like Hurricanes Helene and Milton have shown how solar coupled with energy storage can keep the lights on regardless of what’s happening with the larger grid,” said Johanna Neumann, Senior Director of the Campaign for 100% Renewable Energy at Environment America Research & Policy Center. “Limitless energy from the sun is shining down on our rooftops everyday, and we have the ability to harness it and reliably store it to power our lives. Battery storage paired with rooftop solar should be a staple on every home and building across America.”

The report notes a few key reasons why energy storage has become increasingly sought after. In the last year, storage prices have fallen 16 percent, setting a new all-time low. Driven by falling raw material costs, it has never been less expensive to add storage along with your solar system. Increased demand for storage is also linked to recent anti-net metering measures which have made it harder for solar owners to benefit from electricity they add to the grid. And beyond simple economic sense, it seems consumers are prioritizing energy independence when shopping solar.