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Home Residential Solar

U.S. residential solar averages record-low $29,000 before incentives, said EnergySage – pv magazine USA

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September 3, 2025
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U.S. residential solar averages record-low $29,000 before incentives, said EnergySage – pv magazine USA
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A marketplace report on the first half of 2025 reveals that median loan rates for residential solar projects climbed to 7.5%, with 38% of surveyed contractors saying loan demand decreased.

September 3, 2025
Ryan Kennedy

In the first half of 2025, median residential solar quoted prices have fallen to their lowest rate, tying the record low of $2.48 per watt that was set in the second half of 2024, said marketplace operator EnergySage. 

The median quoted is the lowest since the company began reporting in 2014. For a median residential system size of 11.7 kW, the quoted price represents $29,016 before incentives.

Average system costs vary widely by region. An average system costs $12,300 more in Massachusetts compared to Arizona. The report noted a general correlation between lower utility electricity prices and lower residential solar system prices.

A staggering 92% of contractors EnergySage surveyed said the loss of the 30% investment tax credit will harm their business. The 25D residential solar tax credit, credited to individuals who invest in solar is set to expire at the end of 2025, while the 48E investment tax credit, made available to installers and typically used by lease and PPA providers, will be available for projects that begin construction through July 4, 2026. 

With tax credits set to expire, the industry is exploring ways to cut costs in order to remain competitive and provide savings against utility bills. 

“The solar industry has widely cited $2.00/W as an attainable target price that would maintain solar’s financial attractiveness for most American homeowners after the tax credit ends,” said the EnergySage report. 

(Read: “How to cut U.S. residential solar costs in half”) 

The report said based on contractor surveys, hard costs, including equipment and labor, represent the largest contractor expense at 55% of total system costs, while soft costs, including sales, marketing, permitting and interconnection, and other overhead expenses encompass 28%. It said net profit margins vary significantly among contractors, but on average make up 17% of the cost of an installed system.

Customer acquisition was a large portion of soft costs reported by installers. EnergySage said 47% spend less than $1,000 per closed sale, 33% spend $1,001-$2,000, and 20% report customer acquisition costs above $2,000 per sale.

The marketplace operator surveyed installers and contractors in residential solar to get a temperature check on an industry currently undergoing an extended downturn. About 70% of surveyed respondents said that solar equipment tariffs will “harm or dramatically harm’ their business. Over one third of respondents, or 36%, reported reduced profitability due to higher interest rates, while 27% sought new financing options to help customers due to persistently high rates. Immigration policy concerns also emerged as a potential challenge, with 45% of respondents saying they expect Trump administration policies to impact the solar workforce. 

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

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