Article by Juliana Marino published on Mon, July 23, 2024, on thecooldown.com
New study makes surprising find about households with rooftop solar panels — here’s what it means (thecooldown.com)
A new study released by the Lawrence Berkeley National Laboratory revealed the impressive impact of solar energy on reducing household energy burden, according to an article published in Renewable Energy Magazine.
The Department of Energy defines energy burden as the percentage of gross household income spent on energy costs, including electricity, gas, and heating bills. When the energy burden is above 6% of a household’s gross income, it is considered high.
After evaluating 500,000 solar adopters across the U.S., the researchers found that the average energy burden for solar customers was 2.6%. As a result, rooftop solar reduced the energy burden for 76% of the households.
Median solar customers also experienced $1,987 in annual savings on their energy bills, according to the data collected from the study, and $691 in annual savings even when accounting for any loan or lease payments for the installation.
“Policymakers at the federal and state level have begun to incorporate energy burden into equity goals and program evaluations, aiming to reduce energy burden below a high level of 6% for lower income households in the United States,” states the study.
By advocating for renewable energy sources, policymakers can help achieve this goal and save homeowners thousands of dollars annually.
The study was published as an open-access article in the journal Nature Communications. The researchers considered factors that contribute to energy burden, including income group, ownership structure, year of solar adoption, region, and heating fuel types.
Switching to renewable energy, such as solar power, can significantly reduce the cost of your total energy bill. After an initial installation investment, Forbes estimates that solar energy users save between $25,000 and $33,000 over the lifetime of their solar panels. And organizations like EnergySage make it easy for homeowners to save money up front by comparing quotes from vetted local installers and find the lowest bidder.
Choosing renewable energy over nonrenewable energy also helps reduce the total amount of harmful, planet-warming gases polluting the atmosphere.
Read the entire article on Yahoo News.
