May 4, 2022
The solar industry continues to grow at record pace. According to SEIA, the solar industry has experienced an average annual growth rate of 33% in the last decade alone. With support from strong federal policies like the solar Investment Tax Credit, rapidly declining costs, and increasing demand for clean electricity, this growth shows no sign of slowing down any time soon.
Additionally, the residential solar market is fueled by homeowners motivated by increasing household electricity bills during the pandemic, power outages, and low financing costs.
Soft costs research by the U.S. Department of Energy Solar Energy Technologies Office (SETO) addresses challenges associated with reducing non-hardware cost components of solar energy systems. These costs include design, siting, permitting, installation, interconnection, and financing. They also include the sales, general, and administrative expenses solar companies incur for customer acquisition, workforce training and certification, supply chain and inventory control, and operating overhead.
The soft costs for residential solar energy systems have declined by approximately 50% since 2010, according to the National Renewable Energy Laboratory (NREL). However these costs need to fall an additional 60-70 percent to achieve SETO’s cost targets and to make unsubsidized residential solar a more affordable electricity option across the country.
How solar works
Solar works everywhere
Increased home value
Utility-scale – Market dependent, large scale (MegaWatt) projects solar power is generated and feeds into the grid, supplying a utility with energy
Electrical grid – The interconnected network for electricity delivery from producers to consumers.
Colossus is dedicated to helping businesses sell more solar. By matching residential solar providers with the right customers, Colossus helps solar companies grow their sales by delivering real time solar inquiries.
Contact us to learn more about how we can help you grow your solar business.
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