Since 2013, Belvedere has collected solar system data for over 2,000 non-residential solar projects for which we have quoted financing. In 2018 alone, we quoted over $250 million in solar financing for 82 solar installers.
Here are some highlights
- Median system price per watt was $2.78—up 1% from 2017. The increase was likely driven by the tariff imposed on solar panels in January 2018.
- There continues to be enormous variability in system pricing. The highest price quoted was two to three times the lowest price across most system types and sizes.
- Electricity cost savings have been stable since 2015, with the median ranging from 9.7% to 10.1% of system price.
- 76% of quotes were to PG&E or SDG&E customers, probably reflecting more solar-friendly tariffs.
- 60% of commercial prospects requested a lease quote which suggests that the majority of companies may not be able to use the solar tax benefits.
- 21% of all quotes were for non-profit or government projects. A PPA isn’t the only answer for these prospects.
The full, 13-page report breaks down the data by system parameters, financing structures, activity by utility and geography. Contact us for a copy of the report.
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