Friday, June 14, 2024

Solar Installation Survey Outcomes (2024)

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Solar Installation Statistics

Here are some key statistics about photo voltaic panel methods utilized by our 1,000 survey individuals throughout the nation. This consists of the common system measurement in kilowatts (kW) and extra gear and providers bought together with the photo voltaic panels.

Most Common System Sizes

Respondents to our survey reported having solar energy methods starting from 6 kW to eight kW. The hottest system measurement is 7 kW, adopted by 6 kW after which 8 kW.

System Size Percentage of Respondents
6 kW 33.3%
7 kW 40.9%
8 kW 25.8%

Additional Equipment Purchased

Home photo voltaic methods are sometimes bought along with different services or products, in keeping with our survey outcomes. Nearly half of the respondents put in a battery financial institution with their panels, as proven within the desk beneath. Homeowners may improve their roofs earlier than putting in photo voltaic methods to handle any current points, comparable to lacking shingles, or improve to extra suitable roofing supplies.

Additional Services Percentage of Respondents
Solar battery 48.7%
EV charger 26.7%
Home vitality effectivity audit 31.3%
Roof improve 35.3%
Tree removing 19.6%
None of the above 14.4%

Out of 1,000 respondents, 924 individuals talked about that they’re “very happy” or “largely happy” with their photo voltaic installations. Only 73 reported being “considerably happy” and solely three had been “dissatisfied.” The three individuals who left an unsatisfactory reply had their very own stand-alone photo voltaic panel methods with no battery financial institution.


Cost and Finance of Solar Systems

When survey individuals had been requested concerning the worth of their residence photo voltaic methods, they supplied a variety of prices. Responses ranged from quantities as little as $2,500 to quantities as excessive as $60,000.

Our crew filtered this knowledge to solely embody values ​​between $10,000 and $35,000, which extra carefully aligns with the nationwide common value of residence photo voltaic panel methods. Other sources, together with the Solar Energy Industries Association (SEIA), word that photo voltaic methods value $25,000 on common.

The following desk reveals the fee distribution of residence photo voltaic methods primarily based on our survey.

Solar Installation Cost by Size

System Cost Range 6 kW 7 kW 8 kW
$10,000–$12,500 26.3% 28.1% 16.4%
$12,501–$15,000 21.2% 15.9% 13.6%
$15,001–$17,500 10.2% 7.3% 10%
$17,501–$20,000 5.1% 11% 6.4%
$20,001–$22,500 5.1% 11.6% 11.8%
$22,501–$25,000 3.4% 9.2% 8.2%
$25,001–$27,500 11% 5.5% 2.7%
$27,501–$30,000 2.5% 3.1% 9.1%
$30,001–$32,500 5.9% 6.1% 10.9%
$32,501–$35,000 9.3% 2.4% 10.9%

We additionally requested owners about their most popular technique of paying for the set up of photo voltaic panels. As you possibly can see within the desk beneath, the 2 hottest choices embody paying money up entrance or taking out a photo voltaic mortgage.

Payment Options Percentage of Respondents
Full money buy 46.1%
photo voltaic mortgage 22.7%
Solar rental 14.5%
Power buy settlement (PPA) 16.7%

Average Company Cost

In addition to normal questions on set up prices, our survey requested owners about their most popular photo voltaic firm. Here are some key takeaways primarily based on the outcomes:

  • The least expensive supplier is Tesla, which generally prices $16,000 to $23,000 for an 8 kW residence photo voltaic system. Note that this worth vary is for normal photo voltaic panels, not the corporate’s costlier photo voltaic roofs.
  • On the opposite hand, the most costly supplier is SolarPower, which prices $24,000 to $36,000 for an 8 kW system.

The following desk reveals the common value of every photo voltaic firm primarily based on our survey outcomes. Note that the preferred suppliers in our survey have many knowledge factors that we are able to use to research common prices in consequence. Also remember the fact that the price of putting in photo voltaic can range relying on many components such because the complexity of your own home’s roof, native labor prices and out there state incentive applications.

Solar Incentives

The US presents the photo voltaic Investment Tax Credit (ITC), which is a nationwide incentive for photo voltaic panels and different renewable vitality methods. If you put in an eligible system, you possibly can declare a federal tax credit score equal to 30% of your complete photo voltaic mission value. For instance, if you happen to set up a photo voltaic panel and battery system for $30,000, you may get a federal tax credit score of $9,000.

Depending in your state, you will have entry to further photo voltaic incentives from native authorities companies or electrical corporations. To study extra about photo voltaic incentives in your location, you possibly can examine the Database of State Incentives for Renewables and Efficiency (DSIRE). The two states with essentially the most photo voltaic incentives embody Massachusetts and New York.

Our survey additionally requested respondents about incentives used to scale back the price of their photo voltaic installations. The 30% federal tax credit score is essentially the most generally reported incentive, adopted by state tax credit.

Incentives are used Percentage of Respondents
Federal tax credit score 46.6%
State tax credit score 44.7%
Local rebate 29.4%
State gross sales tax exemption 28.1%
None of the above 11.5%

Customer Satisfaction

As talked about above, our photo voltaic survey asks owners about their most popular photo voltaic installer. The desk beneath lists the 4 hottest photo voltaic corporations, every chosen by greater than 10% of respondents. The most outstanding firm is ADT Solar, which exited the residential photo voltaic enterprise in January 2024, adopted by SolarPower.

Solar Company Percentage of Respondents
ADT Solar 21.4%
SolarPower 19%
World of Solar Energy 13.5%
Tesla 10.3%

ADT Solar

ADT Solar has a median satisfaction rating of 8.3 out of 10 primarily based on 214 survey individuals who selected the corporate. The two predominant components that drive the rating embody firm prices and constructive buyer critiques, each talked about by 57% of respondents. The firm’s financing choices are additionally a key issue within the choice of householders at 42.5%.

The following services and products are the preferred amongst ADT Solar prospects, bought by greater than 30% of respondents:

  • Solar batteries (47.7%)
  • Roof improve (36.9%)

SolarPower

SolarPower has a median satisfaction rating of 8 out of 10 primarily based on 190 survey individuals who selected the corporate. Positive buyer critiques had been the primary issue driving their choice, talked about by 56.3% of respondents. Two different in style causes for SolarPower prospects to purchase embody value (52.1%) and firm expertise (49.5%). Note that SolarPower was one of many first photo voltaic installers within the US, based in 1985.

The services and products listed beneath are the preferred amongst SolarPower prospects, bought by over 30% of respondents:

  • Solar batteries (57.4%)
  • Roof improve (35.8%)
  • Home vitality audit (33.7%)
  • Electric car charger (30%)

World of Solar Energy

Solar Energy World (SEW) has a median satisfaction rating of seven.8 out of 10 primarily based on 135 survey individuals who selected the corporate in our survey. The predominant issue of their choice is value, which was talked about by 58.5% of the respondents. Positive buyer critiques had been the second most vital issue with 54.8% of responses.

The services and products beneath are the preferred amongst SEW prospects, bought by greater than 30% of respondents:

  • Solar batteries (51.9%)
  • Roof improve (35.6%)

Tesla

Tesla acquired a median satisfaction rating of seven.9 out of 10 primarily based on 103 survey individuals who selected the corporate. Positive buyer critiques had been the primary cause for the acquisition, talked about by 55.3% of respondents, with value rating second at 45.6%.

The further services and products listed beneath are in style amongst Tesla prospects, bought by greater than 30% of respondents:

  • Solar batteries (59.2%)
  • EV charger (31.1%)



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