Home solar panel adoption continues to rise in the U.S.
Residential solar has continued to grow rapidly in recent years, despite COVID-19-related supply chain issues, import restrictions and other obstacles. Residential solar power installations rose by 34% from 2.9 gigawatts in 2020 to 3.9 gigawatts in 2021. In the second quarter of 2022, residential solar set its 5th consecutive quarterly growth record. 8% of U.S. homeowners said they have already installed solar panels and an additional 39% have given serious thought to it in the past year. The share of homeowners who say they have installed solar panels is up from 6% in a 2019 survey and 4% in 2016. When asked about possible reasons for installing solar panels, almost all homeowners who have installed them or considered doing so (92%) see saving money on bills as a reason. Democrats and Republicans who have installed or considered installing home solar panels are about equally likely to say this. Most homeowners who said in January that they’ve installed or seriously considered installing solar panels at home said helping the environment was a motivation for doing so (81%). 59% said they did so because it would be better for their health and their family’s health. Another 64% cited solar investment tax credits as a reason. (That survey was conducted before the 30% federal tax credit became law in August 2022.)