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Nearly Half (45%) of American Homeowners Overestimate or Have No Idea About Solar Costs

Last updated 04/25/2022

4 min read


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Key Points

  • Millennial homeowners are nearly six times more likely to own solar panels than baby boomer homeowners
  • Millennial homeowners also anticipate paying off a solar loan of $20K three times faster than baby boomer homeowners
  • High-income homeowners have a better understanding of solar incentives and the cost of solar compared to lower-income homeowners

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Before Incentives After Incentives
Baby Boomers (ages 57-75) 30%38%
Generation X (ages 41-56) 23%32%
Millennials (ages 25-40)15%23%

Solar energy by state