Most Americans are unaware of the true financial value of solar today. Seen by many as a technological luxury, solar energy is not seriously considered as an option by most homeowners in the U.S. However, our analysis shows that, in 46 of America’s 50 largest cities, a fully-financed, typically-sized solar PV system is a better investment than the stock market, and in 42 of these cities, the same system already costs less than energy from a residential customer’s local utility. Of the single-family homeowners in America’s 50 largest cities, we estimate that 9.1 million already live in a city where solar costs less than their current utility rates if they bought a PV system outright – and nearly 21 million (93% of all estimated single-family homeowners in those cities) do if low-cost financing is available.
So why aren’t more Americans investing in solar? There is a clear information gap, and with this report, we intend to open the eyes of average homeowners by showing that solar can generate both significant monthly savings and long-term investment value, and not infrequently, cost less than energy from some of America’s largest electric utilities. What’s more, it is our hope that people will come away realizing that solar is now not just an option for the rich, but a real opportunity for anyone looking to take greater control over their monthly utility bills and make a long-term, relatively low-risk investment.
