Monday, April 26, 2010

Survey Shows More Americans Support Solar Energy, Especially the Young and Affluent



Solar energy is finally getting the positive attention and widespread acceptance it deserves. As reported by Solar Energy News, a recent study done by Rasmussenreports.com showed that 44% of Americans believe in investing in solar for their home. Income is also playing a factor in opinions, as over half of adults who earn $75,000 or more per year believe solar energy will become a standard method for powering their homes. Specifically in California, higher income cities like San Diego and San Jose are leading the shift towards solar technology.

Younger Generations More Supportive of Solar
Even more interesting is the age of those who are willing to forge a solar path.  Supporters in the 18 to 40 segment feel solar energy will become a standard method of powering their homes. Moreover, those in this younger age group are also roughly twice as likely as to say they are very likely to use solar power in their homes in the next five years.

What does this possibly mean for the solar industry? It sends a signal to shift advertising and marketing dollars to Gen Y as they start to enter new income brackets.  Science Daily reports, “Generation Y is maturing into a pragmatic generation that wants to do the right thing for the environment but also has real economic concerns."

There are numerous programs that provide incentives to make the switch including the new PACE program and the California Solar Incentive. Given these emerging tax incentives and new innovations in solar technology, it’s only a matter of time before solar becomes more mainstream.