Solar Market and Cost Analysis
Installed Cost ($/Wdc)
$7.0
Sunrun and SunPower
Cost and Value, Q3 2022
Net Value
$6.0
$1.86
$5.0
■G&A
Sales
Installation
$1.06
$0.15
$4.0
$0.19
$0.88
$1.24
$0.86
$1.12
$3.0
$0.27
$0.29
$0.28
$0.38
•
$2.0
$2.84
$2.62
$2.54
$2.51
$1.0
$0.0
Q3'21
Q3'22
Q3 '21
Sunrun
Sources: Corporate filings.
SunPower
Q3'22
.
Large residential installers reported strong demand
for PV in Q3 2022, and they experienced supply
issues as inflationary pressures rather than barriers
to timely installation.
-
-
Customer additions increased 20%-60% y/y for Sunrun,
Sunnova, and SunPower, and large customer backlogs
were reported (e.g., 54,000 customers for SunPower).
Installers said the high cost and low reliability of
residential utility service boosted PV demand and
allowed higher PV prices.
Electric vehicle purchases are also driving residential PV
demand, and some installers are partnering with
automakers.
Enforcement of the Uyghur Forced Labor Prevention
Act continued to delay module imports, but overall,
module availability enabled timely project completion.
Costs include PV systems paired with batteries.
Battery attachment rates for Sunrun, Sunnova,
and SunPower were 14%-30% in Q3 2022.
Sunrun said battery supply constraints
hampered growth, while Sunnova reported
substantially increased battery supply.
NREL 27View entire presentation