Dec 20, 2019 - Energy & Environment

Why U.S. homeowners consider going solar

Forty-six percent of U.S. homeowners say they have seriously considered installing solar panels at their homes, a new Pew Research Center poll shows.

Why it matters: It signals that the residential solar market has lots of room for growth. The survey notes that only 6% of homeowners polled have already installed systems — but the Solar Energy Industries Association's (SEIA) current estimate sits at 2.1%.

The intrigue: Pew asked what motivates respondents who said they're considering investments in solar systems. Here's what they found:

Data: Pew Research Center; Chart: Axios Visuals
Data: Pew Research Center; Chart: Axios Visuals

The big picture: The residential solar market had a record-setting Q3, SEIA's latest market report shows. But the industry is also facing headwinds.

  • The year-end Capitol Hill tax policy deal does not extend tax credits that will begin phasing down next year and won't be available for residential projects installed after 2021.

By the numbers: The overall survey of homeowners has a margin of error of plus-or-minus 2.5%. On the question of what's motivating homeowners considering solar systems, the margin is plus-or-minus 3.5%.

Go deeper: Using AI to track solar power

Go deeper