Rooftop Solar Adoption is Growing So Quickly, It's Contagious
All across the country, solar panels are popping up faster than ever. In the past forty years, more than 1 million solar photovoltaic systems have been installed, according to the Solar Energy Industries Association, and another million are expected in just the next two years. In fact, this year the U.S. is expected to add nearly double the amount of solar added in 2015.
What’s driving this surge in demand for solar? The growing popularity of solar power can be traced to two converging factors: the increased ease of owning or leasing a solar PV system combined with the added financial value homeowners gain from installing one. In addition, once neighbors and friends see the savings from a rooftop solar system, they’re more likely to install a solar system too.
The Contagion Effect
Studies show that once one person installs a solar system, their neighbors and friends are quick to jump on the solar bandwagon. A study on rooftop PV systems in Connecticut discovered that when one person installed a solar system, installations within a half-mile radius increased, on average.
Similar studies on homes in California also imply a sort of “contagion effect” on neighbors and friends of people who have already installed solar systems.
The continued rise in installations will only become more contagious as solar power’s many benefits become more apparent. Already, as reported by Vox, analysts estimate that homeowners in the U.S. install a new rooftop solar system every four minutes. And there’s good reasons for this so-called “contagion effect”, too.
”People all across the country are reaping the benefits of going solar.”
People all across the country are reaping the benefits of going solar. Even in places not known for abundant sunshine, people are embracing solar power and saving money.
While you’d probably expect California to be the state with the most solar in it (it is), you wouldn’t necessarily expect New Jersey, Massachusetts and New York to be ranked second, third and fifth, respectively. But they are. That’s because the most compelling reason to go solar is the savings. And savings are contagious.
Solar has never been more accessible
With a variety of no money down solar as a service plans to choose, from lease to power purchase agreements to ownership, going solar is accessible to more homeowners than ever before. Some of the most common options are:
- A lease with fixed monthly payments and no option to own the solar system.
- A power purchase agreement (PPA) with fixed rates and an option to own the system after a predetermined amount of time.
- A PPA that has fixed payments over 12 months with annual adjustments based on product and an option to own after a predetermined amount of time.
- A fixed monthly payment plan with the homeowner owning the system.
Long-term, locked-in energy rate
Not only is solar one of the most abundant sources of power available, it’s also one of the more affordable. Unlike the rising costs of electricity from traditional utility companies, most solar service agreements lock-in a low rate throughout the life of the agreement.
This can potentially save homeowners a significant amount of money on their electricity bills. With additional performance guarantees and operation and maintenance coverage for the duration of the agreement, it means the buyer gets all the benefits from the solar system and none of the risks.
Hundreds of thousands of homeowners throughout the country are saving money by generating their own power through solar. Solar isn’t contagious simply because it’s the right thing to do by the environment, it’s contagious because people see the difference in their energy costs. Find out how much solar can save you by clicking here.