How the Pandemic has Affected the Solar Industry
2020 has been a wild ride so far and we’ve still got one quarter left to go. With that in mind we wanted to take a look at how the pandemic has affected the solar industry this year and what we might be able to expect in the coming months.
More Free Time Means More DIY
One of the biggest trends in solar that we’ve noticed since the start of the pandemic in March is a massive increase in interest for DIY solar projects. As people were forced into isolation and many businesses were closed that left many with more free time than usual.
As a result we’ve seen a big increase in people researching and expressing interest in completing all or parts of their solar installation themselves. Offering DIY options or assistance can be a great way to tap into this market.
Some DIYers might not feel comfortable completing the entire installation themselves and might want help with certain steps. The electrical components are where we see many people interested in getting some extra help in their install. This can be a great way to expand your product offering in a way that can take less time than a full installation.
Save Money During a Turbulent Economy
Whether you’re looking at DIY or full installs, demand in the solar industry has not been slowed down by the pandemic. Many people are actually making the decision now in a desire to feel more self-sufficient and save more money.
With so much uncertainty in the world because of the pandemic, people turned to solar because they liked the idea of a power source that pays for itself. They can save money or entirely pay for their power bill even during this economic crisis.
In addition, this year the solar tax credit is 26% and next year it falls to 22%. This is a common motivation for people to get their solar projects wrapped up this year while they can still take advantage of those big savings.
Using More Electricity in Homes
Another big factor that has affected the solar industry this year thanks to the pandemic is that people are using more electricity in their homes compared to an average year. More people are...
Doing home school
Working from home
Spending free time at home
All of this leads to using more electricity than normal because more power is being used for
People are noticing this increase in their power bill and it’s finally prompting them to make the jump to solar in order to save money and offset this increase. Especially since it seems like no one quite knows when things will go back to normal.
While many other industries have suffered during these tough times, solar hasn’t seen any negative effects or decreases in demand. In fact the opposite is true. We predict that Q4 of 2020 will be extremely busy for distributors and installers.
To help you keep up with demand we’ve got the high-quality, American made panels your customers will love!