U.S. Homeowners Lag Significantly Behind Their European Counterparts In Adopting Solar Power Monalee Wants to Change That
–News Direct–
By Meg Flippin, Benzinga
Climate tech company Monalee is looking to accelerate the adoption of solar energy for homes in the U.S. through a business model that cuts solar installation costs by half and improves convenience significantly. The company estimates that 40% of European homes have solar panels installed. In contrast, that figure for the U.S. stands at just about 3%.
When it comes to residential solar adoption rates, Europe is clearly ahead of the U.S. The high cost of energy across Europe is one reason why solar is in such high demand. Pro-solar legislation and incentives are other motivators. With European energy markets expected to remain volatile, demand for solar, particularly rooftop, seems poised for more growth.
In the U.S., the environment is vastly different. Only about 3% of homeowners have rooftop solar, despite it being able to save them as much as $1500 a year. Furthermore, over the last decade, solar and energy battery storage costs have fallen 85% making it more affordable than coal and other fossil fuels in many instances. Even so, widespread adoption remains elusive.
The Roadblocks To Widespread Solar Adoption
There are several reasons why solar adoption remains slow. Americas reliance on fossil fuels is one. As of 2022 petroleum, natural gas and coal accounted for roughly 81% of the energy production in the U.S. Fossil fuels have dominated the U.S. energy mix for over 100 years and habits are hard to break.
Cost is another reason. Homeowners often cite the price of solar panels as a reason they havent installed them. That could change thanks to tax breaks like the Solar Investment Tax Credit, which gives homeowners a 30% tax credit for installing solar. Other state and local incentives help further defray the cost.
Then theres the solar industrys approach to selling panels to homeowners. Its a technology-driven field, yet the industry relies on old sales tactics and marketing messages to drum up business. Door-to-door salesmen canvass neighborhoods, often using aggressive sales tactics and promising too-good-to-be true savings. Many homeowners are kept in the dark as to the true cost and what they will save on electricity. The hard-sales approach and lack of transparency often put homeowners off.
The process of getting the panels installed isnt easy either. It takes 120 days on average from the time you sign the contract to installation. Much of that is due to the manual processes the industry uses to inspect the roof, draw up plans and get the proper permits. Every state and jurisdiction has different rules and regulations the plans need to meet. If the site inspectors, engineers and designers arent well-versed in residential solar, the plans may not pass, and more work has to be done. The process can seem daunting and drawn out, scaring many homeowners away.
Monalee Does It Differently
Monalee takes a different approach one its betting will drive adoption as it eliminates all those pain points. The company relies on its patent-pending AI and advanced machine learning to make the process easier and more transparent. Their technology draws on millions of different data points to assess a customers roof, design a layout that maximizes sun exposure and accurately determine how many panels are needed. Then, it instantly creates an optimal solar design to match the customers energy needs. Something that can take days is done in minutes online. Monalee takes the middlemen salespeople and designers out of the equation, making the process more efficient. It can complete a site survey, design, permitting and installation within 45 days without sacrificing the quality of the materials or labor.
Speed isnt the only way Monalee is changing the industry. It's also giving customers transparent and instant pricing. Homeowners know exactly how much the system will cost and real-time pricing updates as they customize their system. All eligible federal and state incentives are factored in, and all of the fees and savings are laid out in an easy-to-read statement. There are no smoke and mirrors.
To find out how much you can save with rooftop solar click here.
As for the cost, Monalee is trying to shake things up in that area as well. By automating the process, it can save money, which it passes on to customers. Monalee says it can save its more than 1,300 customers in 15 states up to 50% off the total. It also backs the equipment for 25 years.
The current approach to selling solar panels to homeowners doesnt seem to be working efficiently enough, given low adoption rates. Monalee wants to change that. Leveraging technology, it is automating the process and doing it at a lower cost. It's bringing savings, transparent pricing and a speedier process to homeowners doing its part to grow the adoption of solar energy in the U.S.
To see how much you can save on a solar system click here.
Featured photo by Vivint Solar on Unsplash.
Monalee is a climate tech company that is accelerating the adoption of home solar, storage, and EV charging. By leveraging powerful machine learning and removing salespeople and system designers from the process, we are able to secure the same solar panel systems for homeowners at half the price compared to the top traditional solar companies in the U.S., making us the fastest, most efficient way to go solar.
This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice
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COMTEX_448374716/2655/2024-02-26T08:16:17
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