California solar installations are highest in middle-income households according to a recent report by SunRun and PV Solar Report titled, “Solar Adoption is Highest in Median Income Zip Codes.” Almost two thirds of the California solar installations installed in 2009, 2010, and 2011 were in zip codes where the median annual household income was less than $85,000. That’s right solar installations are not just for the rich!
Solar installations continue to rise in middle-income households faster than any other segment of the California solar installation market. Thinking solar installations are a home improvement project reserved for the rich is something of the past. So far in 2011, of the 16,428 solar installations installed in California 10,193 of them were for households with an annual income between $40,000 and $84,999.
The report took a sample of 1,639 zip codes throughout California broken down by 2011 projected median household income and compared with the number of solar installations that had been completed according to data collected by the California Solar Initiative (CSI). The result undeniable data that California solar installations are more common for middle class homes than the rich. This means your neighbors are more likely to have solar installations than your company’s CEO.
In fact, Fresno and Bakersfield, two of the Top 5 Solar Cities in California I wrote about in the blog post by the same title, have an annual household income averaging between $40,000 and $50,000. Malibu, a city with an annual household income of $160,000 didn’t even make the top 25 cities for California solar installations.
SunRun invented a new business model to facilitate homeowners’ adoption of solar installations. Their idea was if they could eliminate high upfront solar installation costs so that income would not prevent households from getting solar installations. Their model allows families to pay a low monthly rate for the clean energy produced by the solar installations installed on their roofs, thus fixing their electricity rates for 20 years.
In fact, third party owner solar made up 59 percent of California solar installations installed among consumers in Q3. Another thing to note is that one in every four SunRun customers who purchased a solar installation reported an income less than $50,000 per year. The report highlights the fact that growth in solar installations is highest among households with a median annual households income less than $40,000.
Solar installations are accessible to all income levels, and this report demonstrates that solar installations are more common among middle class households than any other.
Regardless, of your income level though, solar installations are something you and your family will benefit from now and many years into the future. Not only do solar installations reduce your electric bill but solar panels increase home value. So do yourself and the environment a big favor and take a closer look at a solar installation for your property. First get yourself educated about solar installations and then get in contact with a local solar installer.