Who Buys Solar Panels, and Why?
Who buys solar panels?
Believe it or not, 84% of solar electric systems installed are for residential customers. Still, residential systems tend to be much smaller than commercial systems, making up only 33% of grid-tied PV systems in megawatts. The Solar Electric Power Association conducted a survey of about 600 households who made the decision to pursue solar systems.
What kinds of people buy solar?
Survey says more than half of the respondents do not have children or no longer have children in the home. 52% of those surveyed had a one or two member household. Most had a household income over $100K, however about 1/3 of respondents had an income between $50K and $100K. A strong majority of households also said that they have joint financial decision makers so both parties had to agree to making this decision. Residential solar system owners also tend to be highly educated. Most have an undergraduate degree and over half have a post-graduate or professional degree.
Why do people purchase solar?
Environmental concerns were chosen as the top priority for most households, although respondents were also motivated to decrease the dependence on foreign oil, produce their own electricity, and reduce their current electricity rates.
I’m interested in solar for my home.
Sign up for a free solar evaluation of your home or business with Brightstar Solar. We are a Massachusetts solar installation company who can help you navigate local incentives and the installation process.