So much of solar SME’s success relates to prices. Charge too much and you’ll scare off customers. Charge too little and you’ll not cover your overheads.
To maximise your profit, you need ‘goldilocks prices’. Not too low. Not too high. Just right.
But seeing those advertised prices creates immense pressure for you to match prices. But as you’re about to see, very few systems are actually sold at those prices. LuminateSME will help you resist the temptation to lower your prices too far. It will help you set optimal, goldilocks prices. Let’s take a look.
Luminate SME provides 5 approaches to setting your prices. Today we’ll look at recent prices of 6.6kW systems, by brand of panel and inverter. The table shows the typical price (centre column) and the typical spread in prices (25th and 75th percentiles). You can see a wide variance in the system prices on offer. For the same panel & inverter brand there can easily be a 25% difference in price. Keeping up with changing pricesThe key thing with prices is they are always changing. LuminateSME also shows you how prices have changed in the recent month. As illustrated below, the typical price of systems using mainstream panels with mainstream inverters went down by 4%, whereas the typical price of a premium panel with MLPE went up by 4%. As shown below, part of that is because the wholesale price of MLPE inverters went up, whereas the price of mainstream inverters went down. Local PricingOf course, each state is different, hence these factors often vary considerably by state. LuminateSME localises its data to the retailer’s state of interest. There’s much more pricing information in LuminateSME, including typical markup/margins, the prices that deliver best proposal-to-sale conversion rate, and the spread of system prices.
LuminateSME provides meaningful, valuable, information tailored and priced for solar SMEs. It covers pricing, products, places, predictions, and more. It’s now available here, where you can also download a free sample. |