Insights: Homeowner Data
There’s no other way to put it: U.S. homeowners have a strong and growing interest in solar. Nearly 77 percent of respondents to our homeowner survey either have solar or are interested in purchasing it. What’s more, an incredible one in ten homeowners indicated that they installed solar panels in the last year alone.
Believe it's important for installers to offer multiple financing options.
Of Generation X believe financing options are important.
Of Millennials believe financing options are important.
Of Baby Boomers said high system and installation prices were their main concern with going solar.
Of Generation Z said being more sustainable was their biggest concern.
Of Millennials reported having solar panels on their home.
Your home now
Of course, solar panels are only part of the equation when it comes to a home’s setup. With whole home electrification, electric vehicles, and more gaining popularity, solar panels are often just a part — a big part, no doubt — of a homeowner’s energy profile.
For example, while we saw that 17 percent of homeowners reported that they have solar panels on their home, that’s really just part of the story: Just 11 percent of homeowners said they have only solar panels on their home, three percent have solar and energy storage, one and a half percent have solar and an EV, and two percent have all three.
What’s more, over a quarter of respondents (27 percent) reported having at least one of the following: solar, energy storage, or an electric vehicle.
Of solar professionals have seen an increased interest from homeowners over the past year.
Of participants were interested in solar panels but didn't currently have any solar panels on their home/property.
When you put it all together, the outlook for solar in the future is… sunny. When asked about the idea of installing solar on their property, just 37 percent of respondents said they didn’t have solar, and had no interest in purchasing it.
Why homeowners go solar
With energy prices outpacing overall inflation and concerns growing around energy and grid reliability, it’s no wonder more and more homeowners are looking to solar for peace of mind, and relief from rising energy prices — in fact, a striking 62 percent of homeowners expect energy prices will continue to rise.
It’s no surprise, then, that homeowners identified return on investment as their number one reason for adopting or being interested in going solar (33 percent), followed by wanting to live more sustainably (26 percent).
Energy prices and resilience are also major factors driving solar interest: 62 percent of homeowners expect energy prices will continue to rise, and almost half are concerned about power outages related to weather events (48 percent) and cyber attacks (46 percent).
What’s holding homeowners back
With so many encouraging reasons to go solar, and so much momentum in the market, what’s holding homeowners back from getting on board? As we’ll see, there are the old myths that need busting, but there are also real concerns.
Of homeowners expect energy prices will continue to rise.
Of homeowners find it hard to determine which solar contractors are legitimate.
On the solar professional side
It starts with the seemingly simple task of choosing an installer. Half (50 percent) of homeowners indicated that it’s tough to determine if an installer is legitimate. Likewise, more than a quarter (27 percent) said that solar contractors’ outreach attempts “can often feel spammy.”
This leads to a couple real issues many contractors have to deal with: 38 percent of respondents feel more comfortable working with a national-level contractor, and 28 percent only trust word-of-mouth recommendations when choosing a contractor.
Feel more comfortable working with a national-level contractor.
Only trust word-of-mouth recommendations.
Feel that contractors' reaching out "can often feel spammy."
On the solar side
As long as there have been glass panels you can put on a roof to generate energy from the sun, there have been misconceptions about solar energy. These perceptions are often not true, but homeowners’ beliefs are sticky, for example:
Believe solar panels are less efficient in the winter. (Solar panels are actually more efficient in colder weather.)
Believe that solar panels require “a lot” of maintenance. (They don’t.)
Believe that solar panels make the home selling process more difficult. (There is data that shows solar installations can add to a home’s value.)
Homeowner education opportunities
That’s not to say that solar installers are powerless against these friction points. The data shows that there are some relatively simple, straightforward actions installers can take to help sway those solar holdouts.
We asked homeowners what capabilities they look for in a solar company. Almost half listed offering multiple financing options (48 percent) and understanding how solar panels work with their current EV and storage setup (49 percent).
More than a quarter (27 percent) of homeowners also thought the process of installing solar panels was lengthy and difficult. While this complaint is often valid, the process continues to get smoother. Installers can ease this objection by informing customers about the process beforehand, and updating them during install and permitting.
How are these opportunities and concerns translating to residential solar installers? Our final dataset digs into that question, and more.