97% of Americans Overestimate the Cost of Installing Solar Panels 0

There’s been a lot of talk about solar power and renewable energy lately. This has caused people to look beyond conventional fuel sources to sustainable alternatives that not only offer a cheap solution in the long run, but help preserve the environment as well. But solar energy and other similar renewables are still a relatively new concept especially in terms of utilizing the technology for home use. As such, for ordinary folk, solar systems appear to be exorbitantly priced and not quite worth the effort. A recent study conducted among Americans found that a high majority of the public are of the view that installing solar systems are very expensive.

For about 40 percent of those surveyed, it was found that 4 out of 10 adults think that solar system installations cost $20,000 or more. Just 3 percent were found to truly understand the cost of setting up such systems which is about $1,000 upfront. For 97 percent of the population, solar energy, while no doubt beneficial, is too expensive to consider.

The reality of solar system installation is very different. Sunrun, the US’s largest home solar company, invented a concept called solar power service wherein depending on customer requirements, it is sometimes possible to avail of this renewable resource without any upfront payment. Customers pay a small amount for solar energy to ensure predictable power costs for 20 years.

It is this notion that solar systems are expensive that prevent the masses from opting for renewables. This poses a huge setback to the green sector and contributes to the poor demand of green energy. As it is, most of the public are concerned over high utility costs with many struggling to pay off their bills. Once the misconceptions surrounding solar energy are dispelled, the United States could soon see a high demand for renewable energy.

Via: Marketwatch

Original Article on EcoFriend

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