There’s more good news from GTM. In its most recent industry analysis, it goes on to predict the cost of residential solar will continue to drop from $2.95 per watt to $2.00 per watt by 2023 — a decrease of nearly a third from today’s prices. GTM estimates that 15.9 MW and 39.8 MWh of behind the meter residential energy storage was installed in the first quarter of this year. If that ratio remains the same through 2023, that would translate into 1079 MW of residential energy storage installed for a total of 2.7 GWh of energy available.
Projections are one thing, but as Tina Casey tells us, solar is now unstoppable. By 2023, those projections by GTM could turn out to be very conservative as the clean energy revolution continues to gain momentum.