Last week was a week of reports and new studies in the world of solar and fighting climate change. One report found that homeowners are increasingly turning to solar loans to finance rooftop solar, while another report showed California is making significant gains in reducing its emissions.
Over the past couple of years the primary methods of financing home solar systems have changed significantly. In 2016, for instance, 45 percent of home solar installations were financed by third-party owners like Vivint Solar and Tesla’s SolarCity. Another roughly 25 percent were bought outright and only 16 percent were financed by solar loans. In 2018 fully 47 percent of solar rooftops will be financed by solar loans. That’s according to GTM Research’s new report Bringing Scale, Profitability and Value to the Residential Solar Market.
California is proving that reducing emissions and being economically strong can go hand in hand. The state has already surpassed its emissions reduction goals for 2020. The state has slashed its emissions by 13 percent since they peaked in 2004. They’re now below 1990 levels. At the same time the state’s economy has grown 26 percent.
In New York, Cornell University just launched a new study with Cypress Creek Renewables to evaluate the impact solar farms and wildflowers can have on bees and other pollinators. The study will see if solar farms can be designed in such a way that they increase local bee, butterfly, hummingbird populations. It will also evaluate whether increased pollinators in the area will help increase crop yields for local farmers.
In the Carolinas, Duke Energy is boosting its solar bonafides even more, both incentivizing rooftop solar and building out 680 megawatts of solar projects. In North Carolina it also will offer $62 million in solar incentives to homeowners, businesses and nonprofits. The company will offer the incentives on a first-come-first-serve basis.Tweet