Yardley Voice/Newtown Gazette – We have been privileged to share with you evidence that residential solar energy is recently booming, and that it adds value to every home where it is installed. It seems natural to think that the solar investment is one limited more for the “rich and famous” among us. Well, it isn’t. Even more evidence shows people who buy systems are not necessarily the highest earners. They are both frugal and savvy, too.
One study covers the California market for 15 years starting in 2000. It finds the average homeowner income for solar energy buyers has been continually decreasing in that time – by over 15%.
The average home value for those going solar has fallen by almost 30%. This indicates people with lower incomes and more modest homes are increasingly finding solar affordable in California.
A more recent study was conducted on data collected from over 500,000 solar households in California and three Northeastern states. A key finding is that 83% of the homes adopting solar were defined as either lower income (13%) or middle income (70%).
While, high income earners invest at a greater proportion, at 17% of the buyers in the study compared to being just 10% of the general population in the four states, 83% of over a half a million homes is a lot of solar energy installed in lower and middle income communities.
Buyers with tighter budgets must be smart, ask more questions, and require more from their installation partners. They take advantage of better and flexible financing options that make solar affordable to more families.
Pricing must be fair and reasonable. And the numbers must make sense, with cash flow and ROI comparing favorably to just continuing to pay the utility company.
In Pennsylvania, owners expect full service from education to partnering for the system life. Some of the biggest, national solar installers have failed for not providing these basics. Taking the time to choose your partner up front is essential.