Residential solar more mainstream than you think

October 22, 2013 | By Barbara Vergetis Lundin

Interest in residential solar installations is stronger and broader than expected among American consumers, even when those consumers are educated on associated costs, according to E2 (Energy + Environment) research from Market Strategies International. The interest is generally strong across all age and income groups with few exceptions.

The residence at Turdo Vineyards & Winery in North Cape May, NJ. The winery is entirely powered by solar panels on top of the house. Credit: David in NJ/Wikimedia Commons

In fact, 61 percent of survey respondents are either "somewhat" or "very interested" in purchasing and installing a home solar system. The initial interest is strong across most age groups and all income groups, although only 46 percent of consumers over age 55 are "interested" and three-fourths of those 18-34 and two-thirds of those 35-54 are "interested."

Survey participants were informed that: "The cost of a typical home solar system is about $30,000 and provides about 60 percent of a home's electricity needs. The final costs of a solar system can be reduced through a federal tax credit that allows purchasers to deduct 30 percent of the systems' cost from their income taxes. Some states also provide financial incentives for solar installations."

After having this information, 51 percent of respondents were more interested in home solar systems, with consumers older than 55 again being the only group to show less interest. A majority of respondents across every income group continued to show interest, including low-income households with incomes under $25,000.

"It's pretty clear that most utilities in the U.S. have to figure out an effective strategy for working with their customers who want solar power," said Jack Lloyd, senior vice president, Energy Division at Market Strategies. "Companies will take different approaches in adapting to the situation, but rooftop solar appears to be poised to move beyond its early adopter niche and become a more mainstream phenomenon."

For more:
- see this report

http://www.fierceenergy.com/story/residential-solar-more-mainstream-you-think/2013-10-22