In today’s rapidly evolving energy landscape, one solution is steadily gaining ground in the hearts and minds of consumers – solar energy. In fact, a recent study by Aurora Solar reveals that a whopping 51% of homeowners view investing in solar panels for their home as a positive venture. I know many of you reading this may have similar sentiments, your interest piqued by the promise of sustainable, renewable energy and reduced utility bills. However, like many others, you might be struggling with certain barriers, the most formidable of which is the high cost of solar arrays for homes.
Another concern tarnishing the reputation of solar companies comes down to one fundamental human trait – trust. Shockingly, the report highlighted that 44% of homeowners in 2024 were unable to locate a solar company they felt they could rely on. This is twice that of 2023, where only 22% shared the same concern. Seeing these statistics, it’s very clear that us solar professionals must put more effort into not just offering quality services, but also building relationships based on honesty and transparency.
Further investigation of the report shows that many prospective solar customers lack a good understanding of key features of residential solar power. For instance, only a small fraction of homeowners – 16% to be precise – are familiar with net energy metering (NEM). This procedure involves the utility company offering credits to solar array for home owners who contribute their unused electricity supply back to the grid.
Paired with this is another baffling discovery – despite the fact that 75% of solar installers report increased customer interest in combining energy storage with solar projects, only 10% of homeowners actually chose to couple batteries with their home solar systems.
Incorporating a more comprehensive approach to home energy management is another area homeowners are showing interest in. A decent 38% of respondents believe that integrating home solar with electrification components such as heat pumps and electric appliances enhances its value.
Also a pressing issue is the mounting fretfulness over rising utility costs. Over half of the surveyed homeowners expressed this concern, which is not surprising considering the fact that the average retail price for electricity escalated by 5.3% in 2023, exceeding inflation rates. According to the Energy Information Administration, rates have surged by approximately 30% since 2013.
Despite the odds, the determination of solar companies is unbreakable, and as a testament to our perseverance, two-thirds of solar professionals have reported growth within their companies this year.
Interestingly, the top three reasons homeowners are having second thoughts about committing to a solar project are not as complex as you might think – high project costs, unsatisfactory returns on investment, and unease about moving or selling property.
These concerns reiterate the crucial role we, as solar professionals, need to undertake – to educate our customers better on the numerous tax credit opportunities, financing options, and supplementary technologies at their disposal for residential solar. It’s upon us to ensure everyone understands not just the “how” but also the “why” of solar. After all, a well-informed customer is a confident customer, and confidence is the key to trust, creating a ripple effect that ultimately boosts the standing of the whole solar industry.
Original Articlehttps://pv-magazine-usa.com/2024/03/28/half-of-homeowners-see-solar-as-a-good-investment-but-75-said-cost-is-a-problem/
