Parks Associates‘ latest report has found consumers are concerned about high energy prices but still have low familiarity overall with solar power.
More than 60% of U.S. internet households report their electricity costs are too high, but only 17% are very familiar with solar, according to the “Solar and Storage: Opportunities in the Smart Home” report.
“Consumers are concerned about energy costs and are also interested in solutions that would make them independent of their local provider, so market conditions could lead to strong growth in solar adoption, provided consumers become more familiar with these solutions,” says Chris White, research director of Parks Associates.
U.S. households still have low familiarity with solar and other home energy management solutions, but adoption has increased slowly the past few years. Parks Associates research shows 7% of U.S. internet households have a solar panel.
Climate awareness, energy uncertainty, economic incentives and technological innovation have contributed to the growth of the solar panel industry. Recent popularity surges in the electric vehicle industry and the rise of connected devices are helping grow familiarity with solar and storage solutions.
Access the report here.