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Enact Study Reveals California Residential Solar Customers can Achieve Return on Investment of 4.8 years of NEM 3.0 Scheme
Similarly, solar-plus-storage customers can now achieve ROI of 5.5 year versus 7.6 years for customers who signed on in 2023. This is based on an 8kW solar system, with 100% energy offset, priced at $2.90 /W, with a storage add-on priced at $13,000 for a 10kWh battery, fully installed.
This revelation comes at a time where over 2 million people are behind in utility bills by an average of $744 , millions of PG&E customers are expected to pay around $400 more in utility bills from 2024, and there has been an increase in PGE prices again in January 24 and decrease in panels, inverters and battery costs from Q4 in 2023.
As we enter into 2024, the climate for many energy companies is expected to be tough, particularly due to the second PG&E hike in Q2. Enact's integrated consumer app offers transparency and choice, accurate design and savings tracking for homeowners and installers alike. The app measures solar-plus-storage savings daily, monthly and annually, further reducing the friction for customers and improves trust in outcomes.
Delivering savings and a return on investment on solar-plus-storage requires significant effort, given the complexity of rates, dozens of different storage brand options, and varying customer load-patterns. The Enact platform alleviates this burden for customers, primarily through its feature that prepares sales proposals with solar-plus-storage in five minutes or less.
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More information on full benefits of solar investment can be found here. For more data on ROI and payback for PG&E customers, please see attached image grid. Enact also hosts regular webinars and has a design team on standby to run proposals-as-a-service, for new clients. The next webinar is scheduled for February 29th at 3.30pm PT - registration can be found here.
Enact's award-winning software platform is designed to transform and accelerate clean energy globally. Enact is the only two-sided platform that allows both residential and commercial users to simplify their entire solar and energy storage purchase and ownership journey, designed by Enact and delivered by local solar professionals. Enact also enables thousands of professionals in over 25 countries to sell and deliver projects and manage solar assets for long-term performance. Visit to learn more.
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