System costs are down, public interest in solar is up…
The cost of solar installations has fallen over time, largely due to cost reductions in solar modules, while inverter, racking and labour costs have also decreased. Public interest in solar energy has surged in recent years as more people become aware of the opportunity and benefits of generating their own electricity.
Image source: EnergySage Solar Marketplace Intel Report
..but high customer acquisition costs remain…
One cost that continues to be a significant challenge for the solar industry however, is customer acquisition. The total cost of marketing, lead generation, lead qualification and sales has not decreased with the rest of the system components. In the coming years, customer acquisition is projected to account for a staggering 20% of the overall system cost.
Image source: GTM Research
…resulting in a strain on company resources.
As system costs plummet, driving solar energy to mainstream product status, solar installation companies will experience a surge in phone calls and emails from potential customers putting a strain on the company’s resources to answer FAQs and to qualify leads.
