All you have to do is drive through some cities to see that the solar panel installation industry is booming. The latest U.S. jobs report is another strong indicator of the solar panel industry’s growth. Solar energy jobs are experiencing a surge at the moment, which economist and the workforce are happy to see. A recent report from the Environmental Defense Fund’s Climate Corps found that green jobs are growing at a rate that’s 12 times faster than the rest of the economy.
And the trend isn’t occurring solely in the U.S. China has become a major player in solar power manufacturing, and Germany has played an influential role for years. All around the world solar panels are being installed at a record pace. Experts say a combination of factors is driving the growth.
Reasons Behind the Booming Solar Growth
Essentially, it’s a simple case of supply and demand. To understand the growth in the solar panel industry, you must first understand factors that influence consumers.
Solar Panel Installations Are More Affordable
Like most technology, solar panels had a very high price point early on that has decreased as innovation and competition increased. Three factors go into the solar panel installation cost: equipment, labor and permits. Equipment is by far the biggest cost, but solar panels have dropped significantly in price while increasing in efficiency.
Fewer Concerns About Switching
As technology is adopted, the concerns over how to use it begin to subside. People become more familiar with the product, which is partly due to installers. Ion Solar is a growing national solar panel installation company that puts emphasis on customer knowledge. They also have a project manager for each installation to handle all of the details for the homeowner and answer their questions.
Increased Concern About Environment
The last decade has been dominated by discussions of climate change and living a greener lifestyle. Awareness has dramatically increased demand as consumers look for cleaner energy alternatives.
Increased Desire to be Energy Independent.
Others are more concerned that the grid isn’t stable and they want to be incubated from a potential energy supply shortage. Many homeowners prefer not to be at the mercy of the grid or their electric providers. A solar panel installation provides true independence and control over the energy used to power a home.
Government Entities Are Getting Involved
Government support tends to help industries no matter what nation they’re in. There are now many governments encourage consumers to use green energy with rebate programs. The Solar Investment Tax Credit (ITC) is a perfect example. The Solar Energy Industries Association (SEIA) reports that since the U.S. passed ITC in 2006 it’s helped stabilize and grow the industry. From 2006 to 2016 there was 60% growth overall.
How Solar Panel Providers Are Standing Out in a Competitive Industry
There are only so many roofs in an area, so solar panel providers have to be competitive if they want to turn a profit. In addition to keeping rates competitive, solar panel installers are now offering incentives to help their business stand out. Three of the most common strategies are:
No Money Down Offers
One of the biggest hurdles to going solar is the cost, but solar panel installers are addressing that problem. Instead of needing thousands of dollars to pay for an installation upfront, companies are offering no money down installations. The homeowner makes a monthly payment using funds that would have gone to an electric bill until the installation is paid off.
Free Consult or Roof Inspection
Cost is hard to calculate because each installation is unique. Some have no special requirements while others are more complex. One of the biggest factors impacting a solar installation is the roof. Homeowners that do their research know a roof inspection is one of the first steps to going solar. Installation companies that offer free consults or roof inspections can attract leads that are motivated.
Warranties on the Work
The solar panels themselves often have warranties from the manufacturer. However, the work isn’t guaranteed. Solar panel installation companies that warranty their work for a certain period of time are highly desirable to cautious homeowners.
Shift Frequency © 2017 – Solar Panel Installation Industry’s Rapid Growth