After engaging with over 300 homeowners in Raleigh and Charlotte, we’ve gathered some surprising insights into how North Carolina residents perceive solar energy. The Freedom Solar team conducted a survey to assess the sentiments of those who have adopted or are considering adopting solar panels, revealing some exciting statistics that suggest solar may be an even more suitable choice for locals than they realize.
1. Financial Savings Top the List, but Upfront Costs Raise Concerns
Unsurprisingly, financial savings emerged as the primary motivator for homeowners interested in solar energy, with 88% of respondents citing energy cost savings as their main goal. However, 73% indicated that the initial investment was the biggest obstacle to installing solar panels.
The good news is that over the past 15 years, we have seen significant decreases in solar technology costs, along with the emergence of affordable financing options that make solar more accessible to homeowners.
- Freedom Solar customers can expect an average savings of $45,000 over the lifetime of their solar system after accounting for energy costs.
- Approximately 80% of our clients finance their systems, with monthly payments typically lower than their electricity bills.
- For those considering a switch to solar, we offer a solar panel cost calculator powered by Google Maps, allowing prospective customers to estimate solar costs and potential savings even before a consultant visits their home.
2. New Tax Incentives Are Available, but Awareness Is Lacking
Numerous local and federal incentive programs aim to facilitate the transition to solar energy. Following the enactment of the Inflation Reduction Act (IRA) in August 2022, a 30% tax credit is now available for residential and commercial renewable energy projects.
However, our survey found that 51% of participants were unaware of current or future tax incentives from North Carolina legislation or the recently passed IRA.
Interestingly, when asked what amount of financial incentive would motivate them to consider solar power, 65% of North Carolinians responded that they would seek around $9,999. The average cost of a solar installation in the U.S. is about $20,000, and with the new federal tax credit averaging $6,000, along with additional state and local incentives, homeowners could potentially meet their desired amount. Freedom Solar’s consultants are available to assist in navigating installation tax refunds for maximum benefit.
3. Strong Warranties Encourage Adoption and Remain a Key Factor
Concerns about technical malfunctions or reliability were expressed by 31% of homeowners in Raleigh and Charlotte. This figure contrasts sharply with a similar poll by Forbes, which indicated that only 7-8% of Americans worry about solar maintenance and reliability. Recent incidents involving unreliable contractors in the local solar market and severe weather conditions may have heightened these concerns.
To alleviate these worries, a solid warranty and exceptional customer service are essential. Warranty considerations ranked as the second most crucial factor, following cost, when selecting a solar provider—with 69% of respondents indicating its importance.
Current solar owners in North Carolina are particularly focused on warranties, valuing them above all other factors, including cost. For homeowners in Raleigh and Charlotte considering solar panels, choosing Freedom Solar Power ensures that your entire system is covered by Maxeon’s (formerly SunPower) 25-year warranty—the most comprehensive solar warranty available—which includes panels, microinverters, and racking. We also provide a 10-year warranty for the monitoring system, simplifying the solar ownership process for our clients.
4. Post-Solar Installation Concerns Shift Away from Cost
While cost was the primary concern for 84% of respondents contemplating solar, this focus shifted once homeowners decided to pursue installation. Only 54% continued to emphasize cost as a significant concern, likely due to the realization that financing options can significantly reduce upfront expenses.
Solar owners prioritized warranty considerations above all else, followed by brand importance. This highlights the necessity for quality service and provider reputation in ensuring the ongoing success of their solar systems and overall energy needs.
In conclusion, the insights gained from North Carolina homeowners reflect a growing acceptance and optimism around solar energy, indicating that this renewable energy source is not only viable but essential to a sustainable future.