Nearly 90% Of Americans Are Happy They Installed Solar Panels On Their Homes

Nearly 90% Of Americans Are Happy They Installed Solar Panels On Their Homes

According to a recent survey by Forbes Home, the sunny era is brighter than ever in American households. While traditional energy sources continue to face sustainability challenges, 89.6% of homeowners with solar panels say they are happy with their choice. But what is the cause of such widespread approval? Is it just the promise of lower electricity bills or something more subtle like energy independence?

Our survey explores the motivations, experiences and expectations of solar panel owners, revealing insights that could redefine the future of residential solar.

Keynote speeches

  • The main reasons for installing solar panels are energy independence (73%), savings (67%) and environmental concerns (50%).
  • At least 67% of existing homeowners are considering expanding or upgrading their solar systems.
  • Over 82% of homeowners recommend installing solar panels based on their experience.

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89.6 percent of residents are satisfied with solar panels

A remarkable 89.6% of homeowners surveyed said they were satisfied with the installation of solar panels on their residences. This number is encouraging and shows a broader trend toward renewable energy adoption among homeowners.

According to the Solar Energy Industries Association (SEIA), approximately 3.3 million US homes will have solar panels installed by 2022.

But what could have been the reason for such great satisfaction? A potential factor could be the savings associated with installing solar panels. Although the initial cost of purchasing and installing the best solar panels can range from $10,000 to $18,000 , depending on the size and complexity of the system, many homeowners find that the long-term financial benefits outweigh the investment.

Additionally, the falling cost of solar panels has made them more affordable. Data from the National Renewable Energy Laboratory shows that the cost of installing solar panels has fallen by more than 70% over the past decade. This cost reduction has undoubtedly contributed to increased owner satisfaction levels.

The near 90% satisfaction rate of solar panel owners makes a compelling case for those considering switching to renewable energy.

82.6% of respondents have recommended solar installation to others based on their experience

When it comes to relying on solar power, homeowners are praising it, at least according to our survey. A staggering 82.6% of respondents said they were more likely to recommend solar panels to others.

These reports support the idea that solar panels are not only an environmentally friendly option, but also provide a satisfactory experience for most homes.

With only 3.9% in the “difficult” category, the vast majority of data shows that solar installation is not just a fad, but an important and reliable investment that many are happy to support.

Although this data is encouraging, it is important to remember that a good solar installation experience can depend on various factors such as location, quality of service and initial investment. However, the general sentiment of this survey is clear. the majority of those who choose solar power for their homes are not only satisfied, but willing to encourage others to do the same.

Costs and savings of solar panels

As momentum for renewable energy continues to grow, nearly half of Americans are considering installing solar panels on their homes. However, initial costs remain a barrier for many.

Installing a residential solar system will cost an average of $10,000 to $18,000 . However, it's important to consider the 30% federal solar tax credit available in every state, which effectively cuts costs by about a third.

In addition to financial incentives, the average household can save $ 1,000 to $ 2,500 a year on energy costs after installing a solar system. These savings may be greater in states with higher electricity costs.

Additionally, it's worth noting that a significant 67.10% of current solar owners are considering expanding their existing system, and 65% are considering upgrading to newer or more efficient models (note that these numbers include some top matches. Those who want to expand. ) those who want updates or new models).

It presents an optimistic picture of the future of residential buildings, balancing upfront costs with long-term savings and sustainable living.

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73% say they are installing solar panels for energy independence

The most influential factor for the installation of solar panels was the desire for energy independence. Next come savings (66.3%), government incentives (56.3%) and environmental issues (50.2%).

The concept of energy independence is gaining ground among Americans. In 2020, the Solar Energy Industries Association (SEIA) reported a 37% increase in solar in the US and predicted that the country will see 42% more solar installed between 2021 and 2025 than the solar market did between 2015 and 2020. .

Essentially, this means generating your own electricity with solar panels, thus reducing your dependence on the traditional electricity grid. The attraction here is multifaceted. not only do homeowners gain a sense of autonomy and control over their energy production, but they also avoid potential energy price spikes and grid outages.

Overall, the numbers show that homeowners are considering solar installation as more than just a home improvement project. It's a multidimensional decision that affects financial, environmental and personal factors, where energy independence is increasingly paramount.

Homeowners with solar panels see energy independence, environmental impact and government incentives as the most beneficial.

Interestingly, the actual benefits that homeowners receive after installing solar panels show a subtle but insightful shift in priorities. While energy independence remains an important benefit, 54.8% of respondents reported environmental benefits after installation to 42.2%.

The main driving factors behind the installation of solar panels often include a combination of pragmatic and ambitious reasons: cost savings, government incentives and the desire for energy independence. However, once the system is up and running, the tangible day-to-day rewards seem to become more important.

The increase in reported environmental benefits may be the result of homeowners seeing their carbon footprints decrease in real time and developing a new appreciation of the environmental impact of their decisions. This may explain why environmental benefits ranged from 50.2% motivation before installation to 42.2% after perception.

However, government incentives fell to 18%, perhaps because once tax credits or incentives are granted, they become freebies and no longer contribute to lasting satisfaction as much as government incentives. energy independence or reduced payments.

Energy and solar fees

One of the best things about installing solar panels is the ability to reduce energy costs. However, the data from our study provide a more detailed picture of the problem.

Contrary to the popular expectation that solar panels will inevitably lower energy costs, a significant number of respondents reported that their electricity bills would decrease significantly (23.4% of respondents) or somewhat (37.7% of respondents) after installing solar systems. : it has increased.

This finding may seem counterintuitive given that cost savings are one of the top reasons for going solar, as 66.3% of our survey respondents indicated. How can this apparent contradiction be explained?

Several factors can contribute to the increase in electricity costs after installing a solar panel.

  1. Initial adjustment period. homeowners may still be adjusting to new solar systems and have not yet optimized energy use for maximum profitability.
  2. Additional electricity charges. some homeowners may increase their electricity use, thinking the solar panel will offset the cost, thereby increasing their bills.
  3. Net accounting policy. Depending on state regulations and utility company policies, homeowners may not receive full retail credit for excess energy generated by net metering, impacting their potential savings.
  4. Seasonal changes. Weather often affects solar power generation, and bills can increase during months when there is little sunlight.
  5. Maintenance and financing. The cost of maintaining or financing a solar system can affect the overall cost, at least in the short term.

Despite these challenges, 24% of respondents said their bills have decreased slightly or significantly, indicating the potential for long-term savings.

Most homeowners spend between $100 and $500 a year to maintain their solar panels, and the vast majority find it worth it.

Maintenance is an often overlooked aspect of having a solar panel system, but it is essential to ensure optimal performance and longevity. Maintenance tasks usually include cleaning the solar panels of dust and debris, checking for electrical problems, and making sure the inverter and other equipment are working properly.

Our survey shows that most homeowners spend between $100 and $500 a year on solar panel repairs. It should be noted that a smaller but significant portion (3.07%) still has to spend money on maintenance and repairs, which may speak to the longevity of the system or may be a risky failure.

However, according to our research, the perception of cost-effectiveness is quite consistent with the actual costs. A large majority believe that maintenance costs are very practical (38.2%) or fairly practical (44.66%). Only a small percentage (0.74%) consider the service too expensive.

Regular, cost-effective maintenance keeps your solar panel system running at peak efficiency, which can lead to better energy production and long-term savings.

Understanding the true costs and perceived maintenance costs can help potential solar users make more informed decisions. It also enables existing homeowners to compare renovation costs and assess whether they are getting value for money.

The result

The overall sentiment in our latest survey indicates a very optimistic outlook for residential solar in America. A full 89.6% of homeowners report satisfaction with their solar systems, driving the growing interest in solar power among American households.

In fact, 82.6% of respondents are willing to recommend solar systems to others based on their experience. This is a testament to the quality and reliability of solar energy systems and their role in influencing new users.

Interestingly, financial considerations seem to be less of an obstacle than is commonly believed. The 30% federal solar solar tax credit and potential long-term energy savings make it a worthwhile investment for many homeowners.

It's also worth noting that many owners of existing solar panels are considering expanding or upgrading their systems. This demonstrates a sustained, long-term commitment to solar energy based on a strong desire for cost savings, environmental benefits and energy independence.

These results point to a growing residential solar market where the benefits outweigh the perceived downsides for most homes.

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Our methodology

To understand how Americans install solar panels and how they are configured, Forbes Advisor surveyed 1,000 Americans by marketing firm OnePoll, according to the market research firm's Code of Conduct. The margin of error is +/- 3.1 points, and the confidence level is 95%. OnePoll Research Group is a member of MRS and a corporate member of the American Association for Public Opinion Research (AAPOR).

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Sources:

All real estate data comes from the Forbes Home survey.

Solar Energy Industries Association (SEIA)

National Renewable Energy Laboratory (NREL)

An overview of solar panels for the home

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