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Industry Landscape
The US residential solar industry is experiencing robust growth driven by decreasing costs, favorable government incentives, and increasing consumer awareness of environmental benefits and energy savings. Policy stability and technological advancements continue to expand market penetration, though supply chain issues and interconnection backlogs remain challenges.
Total Assets Under Management (AUM)
Residential Solar Installed Capacity in United States
~5.9 GW (Q1-Q3 2023)
(37% CAGR)
- Q1 2023: 1.8 GW installed.
- Q2 2023: 2.1 GW installed.
- Q3 2023: 2.0 GW installed.
Total Addressable Market
100 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Perovskite Solar Cells
Next-generation solar cell technology offering higher efficiency and lower manufacturing costs than traditional silicon cells, potentially revolutionizing solar panel production.
AI-Powered Energy Management Systems
Sophisticated software leveraging artificial intelligence to optimize home energy consumption, integrate solar production with battery storage, and predict energy needs.
Bidirectional EV Charging (V2G)
Technology enabling electric vehicles to not only draw power from the grid but also feed excess solar energy back into the home or grid, turning EVs into mobile energy storage.
Impactful Policy Frameworks
Inflation Reduction Act (IRA) of 2022
The Inflation Reduction Act (IRA) of 2022 extends and expands the Investment Tax Credit (ITC) for residential solar systems at 30% for installations through 2032, also introducing incentives for domestic manufacturing and energy storage.
The IRA significantly boosts consumer demand for solar by offering long-term financial incentives and reducing the net cost of solar installations, making them more accessible and attractive.
Net Metering Policy Changes (e.g., NEM 3.0 in California, 2022)
Net metering policies dictate how solar homeowners are compensated for excess electricity fed back into the grid; recent changes in states like California (NEM 3.0) have reduced export compensation rates.
Changes to net metering policies can decrease the financial attractiveness of solar for some homeowners by reducing their utility bill savings, potentially increasing the need for battery storage solutions.
Interconnection Standards Reform
States and utilities are increasingly reforming interconnection standards to streamline the process of connecting distributed energy resources, like residential solar, to the grid, addressing backlogs and inefficiencies.
Improved interconnection standards can accelerate solar project deployment by reducing delays and bureaucratic hurdles, allowing Freedom Forever to install systems more quickly and efficiently.
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