Solar Market and Cost Analysis

LBNL's ~Annual Residential Solar-Adopter Trends Report LBNL recently published its Residential Solar- Adopter Income and Demographic Trends: November 2022 Update. Median Income 2021 solar adopters $110k All owner-occupied households All $79k households $63k Sydney Forrester, Galen Barbose, Eric O'Shaughnessy, Naïm Darghouth, and Cristina Crespo Montañés. 2022. Residential Solar-Adopter Income and Demographic Trends: November 2022 Update. Lawrence Berkeley National Laboratory. https://eta- publications.lbl.gov/sites/default/files/solar-adopter income trends nov 2022.pdf Mean YoY Change in Solar Adopter Median Income (2010-2021) 4% 2% 0% Source: Forrester et al. 2022 -2% -4% Low- and Moderate-Income Adoption While solar adoption skews toward high-income households, low- and moderate-income 43% -6% households are also adopting. In 2021, about 43% of adopters earned less than 120% of their area's median income. (120% is a threshold sometimes used to include both low and moderate income) Most states show declining solar-adopter incomes over time, with generally an average drop of 1%-2% per year over the 2010-2021 period.

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