We’ve released the highlights of our Q2 State-of-Solar report. Read the full press release here:
Leading online solar marketplace finds California Solar Initiative (CSI) average cost-per-watt data off by 39%, predicts 2.5% drop in Q3 residential cost per-watt.
LOS ANGELES, California — July 27, 2015
Pick My Solar released highlights from its first data report on the California solar market after finding large discrepancies with CSI data. The report finds that the average cost of residential solar in California has fallen to $3.60 per-watt in the second quarter of 2015. The report overview details the average cost-per-watt based on geographic area, equipment type, and system size. The full report provides insights on conversion ratios and predictive trends as well.
Pick My Solar is an online marketplace for solar buyers and sellers. The platform is unique in the solar industry and provides a complete service of expert advice and system design before placing the system out to bid to a network of vetted installers. Analyzed bids and financing options are then presented to homeowners allowing them to make an educated choice on the best value bid with which to move forward. Pick My Solar handles all communication with installers. The service is free for homeowners and claims it saves buyers an average of $4,600 per project.
Check this video to learn more about Pick My Solar’s marketplace.
“Exhausted utility solar rebates have left the CSI statistics out of date. This data void has left residents and solar installers blind to the True Price of solar.” said Max Aram, Pick My Solar’s CEO. He added, “The statistics the CSI is looking at are limited for the most part to where utility rebates still remain. Many third-party owned systems that are reported to CSI are based off of bloated prices for tax purposes. If homeowners are truly purchasing solar systems at the CSI reported $5.37 per watt [July 15, 2015 update], we’re not doing our job of promoting solar transparency.”
The data used in Pick My Solar’s Q2 Report are comprised of bids placed on Pick My Solar’s bidding platform and bids analyzed through Pick My Solar’s free quote advising service. Pick My Solar has been gathering this raw bid data for over 18 months on projects throughout the state of California. The bids are mostly sourced from regional and national solar installers. The report disclaims that data may be skewed due to the bidding platform only allowing screened solar installers to bid on projects. It explains that fair pricing is one of the qualifications allowing an installer to join the platform.
The full report provides extensive analysis on specific equipment type, price range, and financing options that perform the best for various homeowner demographics. The report also gives predictive analysis on where pricing and equipment trends are headed, specifics of the data sets, and insights to California’s submarket locations that have exhibited slow solar penetration.