RALEIGH, NC (January 13, 2015) – Today, as part of the U.S. Department of Energy’s SunShot Solar Outreach Partnership (SolarOPs), the N.C. Clean Energy Technology Center (formerly the N.C. Solar Center) announced the release of the second report in its Going Solar in America series: “Going Solar in America: A Guide for Homeowners Considering Solar PV in America’s 50 Largest Cities”.
The first Going Solar in America report, released last week, ranked America’s 50 largest cities by the financial value rooftop solar offers residential customers. According to the authors’ calculations, a financed solar PV system can be a better investment than the S&P 500 in 46 of the 50 cities.
The second report, released today, provides actionable information to homeowners as a follow-up to these rankings. This customer-facing guide includes descriptions of the policy and incentive options available to homeowners considering solar and information on how to get started. Among topics addressed are solar PV technology, financing options (loans, leases and power purchase agreements), and net metering and “value of solar” tariffs.
Many Americans are not aware of the degree to which solar costs have declined, and the emerging value that solar offers as a savings and investment opportunity, so the Going Solar in America reports are intended to build support and awareness by providing estimated values for each of America’s largest cities. Contrary to popular belief, rooftop solar is already cheaper than utility rates in 42 of the 50 cities, and this is set to increase as the cost of solar continues to decline and utility rates increase.
“We wanted to first draw attention to the financial value that solar offers today and then have a resource available to assist homeowners who are interested in taking the next step,” said Autumn Proudlove, co-author of the Going Solar in America reports.
Another reason why many homeowners are unaware of solar PV’s value is due to the fact that most people do not have a point of reference for understanding how much it costs them. This report provides customers with a common point of reference most Americans can understand well – the cost of a new (and best-selling) car.
“It may surprise many homeowners, but the fact is, the upfront cost of a typical size solar PV system, even without various policies, incentives, tax credits, and other low-cost financing options, is about the same as the upfront cost of a 2015 Toyota Corolla™ in all regions of the country,” said Jim Kennerly, the lead author and project manager for the Going Solar in America reports. “Given that a car’s upfront cost does not include ongoing gas and maintenance costs, it really shows that going solar right now is a great financial value, no matter who you are, or where you live.”
Below is a table from the report that compares the regional price of solar (generously provided to the Center by EnergySage, an online solar marketplace), with the average prices paid for a 2015 Toyota Corolla™ (courtesy of U.S. News and World Report):
To obtain a full copy of the report and rankings, please click here.
For a copy of the Technical Appendix to this report and to “Going Solar in America: Ranking Solar’s Value to Consumers in Americas Largest Cities” (released last week), please click here.
About the N.C. Clean Energy Technology Center
The N.C. Clean Energy Technology Center, as part of the College of Engineering at North Carolina State University, advances a sustainable energy economy by educating, demonstrating and providing support for clean energy technologies, practices and policies. It serves as a resource for innovative, green energy technologies through technology demonstration, technical assistance, outreach and training. For more information about the N.C. Clean Energy Technology Center, visit: http://www.nccleantech.ncsu.edu. Twitter: @NCCleanTech
Media Contact: Shannon Helm, N.C. Clean Energy Technology Center, 919-423-8340, email@example.com