Is Residential Solar Becoming the Future Standard?

Is Residential Solar Becoming the Future Standard?

In recent years, solar energy has grown greatly. It’s quickly moving out of a small market niche and into the mainstream.

With both homeowners and governments expressing growing interest in embracing solar, it’s quite likely that solar installations will be considered a standard feature of future homes.

In this article, we examine the trends and events that are driving this change.

Government Incentives & Targets With the growing number of incentive programs and official goals for solar energy use, it’s clear that the American government is seeking a solar-powered future.

Both state and federal governments offer tax credits and other incentive programs for homeowners that get solar installations.

The federal solar investment tax credit (ITC) is the nation’s biggest program pushing for solar expansion, and it has resulted in 59% solar growth since its launch in 2005. Additional initiatives like the federal WAP are even pushing for solar to spread into low-income residential markets.

In 2011, the U.S. Department of Energy set future targets for solar energy to be priced competitively against traditional sources of electricity. For 2020, this target is $0.10 per kilowatt hour for residential solar. They aim for that price to drop down to $0.05 by 2030.

These targets were set to make solar energy more affordable and accessible to Americans, which will result in the spread of solar. With prices in 2017 reaching as low as $0.16, the country is well on its way to meeting the residential targets.

Probably the most exciting government decision is California’s recently-enacted requirement that all newly constructed

homes receive solar panel installations. This will result in tens of thousands of new solar homes every year.

It’s a bold move, but not surprising for a state that is already aiming for 50% renewable-source electricity usage by 2030.

Industry figures speculate that it won’t be long before other states follow in California’s footsteps with their own requirements for new homes.

Financial Control Millennial are an up-and-coming group of homeowners who are more financially conservative than previous generations.

They have spent most of their entire adult lives in an economic recession. Many watched their parents lose their jobs and savings, and they themselves have had a difficult time finding work and making ends meet. They are less likely to have savings, and many are also weighed down by significant student loan debt.

All of this results in millennial being more cost-conscious. They seek ways to cut down their expenses and maximize their investments. This makes solar installations very appealing to those who own a home. Not only does solar allow millennial homeowners to save money on energy bills, it can also increase the value of their homes. For this reason, it’s likely that Millennial will be embracing solar in the years to come.

Shifting Values Additionally, younger generations are becoming more concerned with issues like sustainability and environmental protection. A large portion of them want to reduce the ways that they may be negatively impacting the environment. They look for ways that they can change their lifestyles, purchasing decisions, and homes to benefit the planet.

Naturally, eco-friendly energy sources like solar are a major draw for this growing group of homeowners. Going solar allows them to power their homes more responsibly and contribute to America’s efforts to become a greener nation.

Preparing for a Solar Future All of the trends detailed above are paving the way for residential solar to become the new norm. As this market grows, solar contractors can get a rising number of leads, so long as they have effective ways to acquire them.

Solar marketing companies that sell qualified leads for solar installers offer an ideal solution. Here at Grid Freedom, for example, we allow contractors to get direct and exclusive access to leads that are already pre-screened and prepared for a consultation. Purchasing leads from us enables contractors to build a steady and reliable stream of promising potential customers.

Get Your Solar Leads at www.Gridfreedom.com

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