Solar Industry Update
Five New Things To Know From
Tracking the Sun ... 2023 Edition
Module Efficiency and Monocrystalline Market Share
Residential
Small Non-Residential
20.6%
20.8%
Median module
20%
efficiency (left-axis)
0%
2002
Percent of Sample
10%
0%
Mono-crystalline
share (right-axis)
2015
2022
2004
2022
2007
Large Non-Residential
20.4%
100%
Storage Attachment Rates by Sector (2022)
Non-Residential
Residential
10%
2022
2015
2022
7%
2022
0%
1. In 2022, the median module efficiency of U.S. residential PV
systems was 20.8%, up 0.7 percentage points y/y. 20th/80th
percentile range module efficiencies was 20% to 21.5%.
2. Third-party ownership has declined over time from its
historical high of 59% of residential installations in 2012 to
25% in 2022. Market share varies a lot by state.
3. For the second year in a row, microinverters represented over
half the residential market, beating out DC optimizer systems
53% to 41%. However, for large nonresidential systems, DC
optimizer market share continues to grow, up to 39% in 2022,
compared to 1% for microinverters.
4. Residential attachment rates have steadily risen over time,
reaching 10% of the sample in 2022-approximately eight
states have an attachment rate greater than 10%. 65% of
paired storage had a capacity of 5 kW; however, market share
for larger storage sizes has grown over time, driven by backup
power demand.
5. LBNL performed a regression analysis and found prices are
generally lower in markets with more cumulative PV
installations and areas with higher income. Their modeling also
suggests that prices are $0.6/W lower for systems installed
during new construction.
Source: Barbose, G., N. Darghouth, E. O'Shaughnessy, and S. Forrester.
2023. Tracking the Sun: Pricing and Design Trends for Distributed
Photovoltaic Systems in the United States 2023 Edition. Berkeley, CA:
Lawrence Berkeley National Laboratory. September 2023.
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