Assessing the New Home Market Opportunity: Case Study and Cost Modeling for Solar and Storage in 2030

In 2020, the United States had a cumulative 19 gigawatts (GWdc) of residential solar photovoltaic (PV) capacity. A growing percentage of these solar installations are paired with battery storage, up from 0.1% in 2015 to 8.1% in 2020. Some states are considering or have already adopted policy mandates to require solar and storage systems. The cost of installing residential solar and battery storage projects remains a barrier to widespread adoption nationwide. For example, the cost of a typical residential retrofit solar and storage system ranges from $26,153 to $37,909, which is 38% to 100% higher than a standalone PV system.