EnergySage published today its fifth semiannual Solar Marketplace Intel Report. Using millions of transaction-level data points generated from the EnergySage Solar Marketplace from July 2016 to June 2017, this report provides unparalleled insight into the evolving dynamics of the U.S. residential solar industry.

This latest edition features new datasets and analyses including snapshots of solar economics across 12 states, results from a community solar shoppers survey, and an examination of how solar panel quality impacts the likelihood of quote selection. Also new to this report is an analysis of surging consumer interest in solar across the country, as based on both Google Trends data and EnergySage organic traffic. The result is that consumer interest is growing from 60% to over 150% annually.

Additionally, EnergySage again analyzed quotes submitted to Solar Marketplace users in six different utility service territories. EnergySage compared the levelized cost of energy (LCOE) of solar to today’s electricity rates in territories served by Arizona Public Service (APS), Eversource, Georgia Power, PEPCO, Portland General Electric, and PSEG. In all service areas, the LCOE of solar is lower than the 2017 residential electricity rate offered by the utility. Consumer interest in each utility region has also increased dramatically across the board.

More on key insights in the latest Solar Marketplace Intel Report:

Consumer interest in solar surges as costs fall

EnergySage examined search volumes for solar-related keywords in Google searches and found that since 2014, interest has increased significantly. Google Trends data shows that consumer searches have climbed by anywhere from 25% to over 60% by H1 2017. During this same time period, the gross cost per watt of solar fell by 18% on EnergySage.

Higher quality panels result in higher close rates

Shoppers on EnergySage are more likely to select quotes offering premium and premium+ panels by 19.6% and 59%, respectively, than standard panels. Even though these quotes are quoted less frequently and come with a higher price tag.

Community solar shoppers are ‘on the fence’ about buying

EnergySage surveyed shoppers on its Community Solar Marketplace to understand the motives of prospective community solar customers and the barriers to adoption. The survey found that most shoppers were motivated by the financial benefits of community solar, as well as the benefits of supporting local solar projects. However, interest hasn’t yet translated into high adoption rates. Higher financial savings and simpler, more flexible contracts were cited as two possible ways to convince many skeptical shoppers to move forward.

“This report helps paint the bigger picture about solar in the U.S.,” said EnergySage CEO and founder Vikram Aggarwal. “Regardless of the headlines you might read, the bottom line is that American consumers are increasingly aware of and interested in installing solar panels. Rapidly falling costs, greater transparency, and an expanding set of options are driving this growth. The outlook for our industry continues to be very bright.”

EnergySage is an online comparison-shopping marketplace for rooftop solar, community solar, and solar financing, and is uniquely positioned to share solar market insights. This report furthers the company’s mission to support the healthy growth of the solar industry via consumer education and empowerment, price transparency, and greater information sharing among all stakeholders.