Residential installers need to know as much as possible about the homeowner’s view of solar energy. This key information can build better customer roles to improve marketing and sales strategies. In turn, this can help installers push potential customers to the sales channel and possibly close more deals.
A recent study and survey have revealed some new insights into the homeowner’s thinking and decision-making process regarding solar energy. Let's take a look at their findings and what this means for residential solar installers.
A recent study conducted by the National Bureau of Economic Research (NBER) found that three major cognitive biases hinder homeowners’ investment in solar panels. These three prejudices—myopia, inertia, and herd—can cause homeowners to seriously underestimate or even ignore the direct economic benefits they gain by investing in rooftop solar.
Myopia-This is because the customer is too focused on the short time horizon in the future and cannot compare the cost/benefit of rooftop photovoltaic systems. In essence, homeowners fail to grasp the long-term savings they get from solar panels and are too worried about the upfront costs.
Inertia-This prejudice is the tendency of an individual to maintain the status quo. Normally, people will just continue to do things the way they always do, and rarely think about changes.
Conformity-Conformity stems from people making choices based on observed behavior of friends and neighbors. If it seems that no one else is using solar energy, then people may hesitate to take the first step. On the contrary, if people nearby are installing solar panels, homeowners are more inclined to buy their own solar panels.
Installers can help homeowners better understand the long-term financial benefits they receive from solar energy, thereby helping them overcome the first two prejudices. This includes reducing electricity bills and possibly even increasing property value.
Another option is to promote the use of power purchase agreements (PPA). Residential PPA means that homeowners do not have to deal with upfront costs and can still benefit from solar energy.
Solar loans also provide another potential option for homeowners who wish to avoid large upfront investments. Solar loans also provide homeowners with the opportunity to retain investment tax credits for themselves.
Well-informed and enforced local standards can promote greater adoption of solar panels in the community, thereby overcoming herding bias. Installers can work with local governments to promote these policies, although this may be a long-term process.
SolarReviews and the BEACN consulting team at the University of California, Berkeley recently surveyed more than 400,000 homeowners who requested solar quotes on the SolarReviews website between 2016 and 2020. Large-scale surveys provided a lot of data, but one of the more enlightening findings involved the resulting installation.
Although three months is the most common installation schedule, many homeowners are still interested in rooftop solar for months or even years after the initial call. In fact, 68% of all respondents who have not yet installed solar energy and have not yet installed said they are still interested in installing solar energy systems in the future.
Installers may need to consider reconsidering their long-term marketing activities to heat up these cold potential customers.
Obtaining a better return on investment is still the most important factor driving the decision-making process of homeowners regarding rooftop solar installation. This is no big secret.
However, finding the best solar panels to give homeowners value for money can be a tricky part. At the same time, homeowners want stylish panels to bring beautiful beauty to their houses.
The all-black 330W panel can be the solution that installers need to achieve this goal. These panels are stylish and reasonably priced, providing homeowners with high power generation and low-level energy costs (LCOE). This may help them get faster returns. In addition, Trina Solar's 330W modules are specially designed for excellent roof aesthetics, and are safe and easy to transport, handle and install.
The 330W panel automatically comes with TrinaProtect, which is a 25-year product and 25-year performance warranty plan. It provides homeowners with the peace of mind they are looking for to help alleviate their concerns about energy reliability.
This article is provided by Trina Solar. Contact Trina Solar to learn more about our stylish and affordable 330W all-black modules for your homeowners and customers.
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