Aurora Photo voltaic has launched its second annual “Photo voltaic Trade Snapshot.” This report examines early 2024 U.S. residential photo voltaic traits via three distinctive knowledge sources: Aurora’s photo voltaic tasks database of greater than 9 million tasks over the previous two years; a survey of 1,000 U.S. householders about their photo voltaic adoption behaviors and motivations; and, a survey of 500 U.S. photo voltaic professionals on the state of the business.
Key findings embody:
Curiosity in photo voltaic is excessive, however householders are caught within the strategy planning stage
- Greater than half of house owners mentioned they consider photo voltaic is an effective funding. Nonetheless, 75% of house owners who should not have photo voltaic (however have an interest) mentioned general system and set up prices are an enormous concern.
- Notably, 15% of house owners mentioned they had been paying for his or her PV system via a leasing program. Within the present high-interest price atmosphere, we anticipate this proportion will enhance as demand for leasing goes up. Training round third-party possession may open doorways for householders and installers to maneuver out of the “curiosity stage.”
Home-owner belief has declined, however hope stays within the energy of training
- In 2023, 22% of house owners mentioned they had been unable to discover a reliable photo voltaic firm. In 2024, the numbers doubled: 44% of respondents mentioned it’s tough to find out which photo voltaic corporations are reliable.
- Photo voltaic professionals backed this up — by far, the primary downside they face in 2024 is householders being reluctant to decide to quotes (38%). It’s extra essential than ever for photo voltaic gross sales professionals to teach householders.
Owners discover photo voltaic extra helpful when paired with storage and different vitality effectivity merchandise
- Solely 10% of house owners had battery storage, and so they overwhelmingly didn’t perceive net-energy metering (solely 16% had been acquainted with the time period). These numbers ought to enhance in future years as net-metering insurance policies are examined throughout the US and electrical energy charges proceed to rise.
- The truth is, almost three-quarters of photo voltaic professionals reported seeing elevated curiosity in vitality storage + photo voltaic. Furthermore, 38% of house owners felt photo voltaic panels are extra helpful when paired with complete residence electrification.
Information merchandise from Aurora