Sustainable Community Networks Overview
GIANT ADDRESSABLE MARKET BUOYED BY REGULATORY SUPPORT
electriq
power
The Inflation Reduction Act has bolstered the rapid expansion of residential solar installations and attachment rates
U.S. Residential Solar Installed Capacity (GW)
2020-2030 Estimated CAGR: 15%
78.7
70.7
63.2
56.4
49.7
43.3
37.7
33.4
28.9
24.5
20.0
Federal Support (4)
At the federal level, President Biden signed into law the
Inflation Reduction Act on August 16, 2022, which includes $369 billion
for Climate Change and Energy Security, including tax credits and
grants to make homes energy efficient:
2020A 2021A 2022E 2023E 2024E 2025E 2026E 2027E 2028E 2029E 2030E
Total U.S. Battery Storage Unit Installs (000s)
► 2022 new battery attachment rate of 20% (1), with an
estimated 2%-4% annual increase thereafter (2)
Retrofit annual attachment rate of 1%(3)
■New Battery Storage Unit Installs
■Retrofit Battery Storage Unit Installs
2023-2025 CAGR: 21%
332
225
241
193
71
60
64
54
261
139
166
177
2022E
2023E
2024E
New Install
20%
24%
27%
2025E
30%
Attach Rate
30%
ITC restored for solar and
storage projects
10 years
Extension of full PTC / ITC (or
the equivalent) values to at
least 2032
Stand Alone Storage
Introduction of ITC for
stand-alone storage
installs for first time, a jolt to
the retrofit market
Up to 20%
Bonus ITC for development
in certain low-income
communities
Source: Bloomberg New Energy Finance ("BNEF"), Sunrun, SunPower and
Sunnova company presentations and filings, Lawrence Berkeley National
Laboratory.
1.Based on average attachment rates for 2022 per Sunrun, SunPower
and Sunnova investor presentations and earnings calls.
2.Figures in chart represent midpoint of estimated range.
3.Based on Electriq management estimate.
4.Senate Democrat's Summary: The Inflation Reduction Act of 2022, SEIA
Inflation Reduction Act Summary Report.
Strictly Confidential / Not for Redistribution
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