September 29, 2018 | battery, Blog, storage | Write comment

Our CEO quoted in U.S. News about solar battery systems

Are we in the midst of a home battery shortage, since they became popular so quickly? Can customers obtain an affordable energy storage system to prepare for an outage?

Ipsun Power's CEO was quoted in the U.S. News World Report after an interview about the current state of the U.S. solar and battery market.

Prices go up due to production constraints

herve billiet co founder of ipsun solarHerve Billiet specifically talked about pricing dynamics for battery and solar panel products in a recent presentation:

A spate of new factories being built should alleviate the supply crunch, analysts say. Bloomberg last year predicted that global battery production would double by 2021. The current constraints, however, are already having an impact: One installer says the scarcity has driven up the price of an average battery system from a low of about $9,000 to roughly $11,000. 

Herve Billiet of Ipsun Power

"They simply ran out of batteries and the price went up," says Herve Billiet, CEO of Ipsun Power, a solar and battery installer based in the nation's capital.

These dynamics will continue

The price tag for batteries still remains much smaller than even five years ago. That's a big factor behind the recent storage boom in residential markets, but not the only one.

Ipsun Power Quoted on US NewsThe average cost of installing rooftop solar is 40 percent cheaper than it was five years ago. It's nearly 60 percent cheaper than in 2010, according to the Solar Energy Industries Association. This is making the prospect of recouping the cost of a combined solar-plus-storage system much better.

 

Source: https://www.usnews.com/news/national-news/articles/2018-09-13/as-storms-bear-down-more-homeowners-look-to-batteries-not-generators-for-backup-power

 

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Herve Billiet
Herve Billiet

Herve is a renewable energy veteran. He first designed a solar car when he was 21 years old. Soon after, he was invited by MIT in Boston to advance its sustainable transportation initiatives. Herve then designed his first residential solar system in 2009. After working for a few consulting firms, Accenture among them, the U.S. Department of Energy hired him as a Strategy Consultant on the largest renewable energy projects in the world. He would later join forces with his business partner, Joe Marhamati, to establish Ipsun Power.