Study demolishes common myth about the affordability of solar panels: 'One of the most eye-opening findings'

You don't need to be mega-wealthy to switch to solar panels.

A study by EnergySage revealed eye-opening statistics about solar panels and the people who own them. 

While many may think that only the wealthiest members of society can afford solar panels, the study found that most solar-powered homes were owned by "low- to moderate-income households."

In fact, 44% of those who switched to solar power in 2023 had an income of less than $100,000 a year, with 30.5% of them earning between $50,000 and $100,000 a year. 

The median income for households across the U.S. at the time was $75,000, making many solar-panel users just average Americans.

If you're considering ditching dirty fuels and installing solar panels, you could explore EnergySage's free tools to get quick solar installation estimates and compare quotes.

The study suggests that a bigger barrier to switching to solar is home ownership, as many renters and those in apartment blocks don't have any say in whether they can switch to a more sustainable and cheaper energy source.

Going solar is one of the best ways to save money on home energy and lower planet-overheating pollution. With EnergySage's help, the average person can get nearly $10,000 in incentives for solar purchases and installations.

EnergySage has a handy mapping tool that shows the average cost of a home solar panel system and provides details on solar panel incentives in each state. This can help you get the best price for rooftop solar panels and snag all of the available incentives.

The study also found that solar power is becoming more affordable every year, with solar energy costs falling and more options to lease or loan solar panels for those who can't afford the upfront investment.

What's the biggest factor stopping you from investing in solar panels? The cost 💰 The technology ☀️ I'm a renter 🏢 I'm already invested 😎 Click your choice to see results and speak your mind.

Installing solar panels is the ultimate home energy hack because it can bring your cost of energy down massively. In some cases, you might even get free energy! EnergySage provides a free service that makes it easy to compare quotes from vetted local installers and save up to $10,000 on solar installations.

Although the upfront cost of buying solar panels might not be in everyone's budget, you could consider leasing solar panels to avoid high and fluctuating energy prices while helping the planet. 

Palmetto's LightReach solar panel leasing program installs panels with no upfront cost and lets users lock in low energy rates.

"Solar isn't a luxury anymore," EnergySage commented. "It's becoming what it was always meant to be — a practical way for everyday homeowners to save money while supporting a clean energy future."

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