With Housing Costs on the Rise, Solar is More Important Than Ever

When the pandemic first hit, analysts were predicting that it would send the housing market downward. With so many Americans struggling to pay rent in a battered economy, logic dictated that landlords and homesellers would have to lower their prices. But the reality turned out to be far different. 

Last year, U.S. housing gained ~$2.5 trillion in value. That’s the biggest gain in a single year since 2005. 

One of the big contributing factors to the spike in home sales was the offering of low interest rates by mortgage lenders. In an effort to keep financing customers coming in, lending banks dropped their interest rates to rock-bottom percentages that were too good to pass up. Those who were still employed and otherwise financially capable were quick to jump on the opportunity. 

But this brief offering of favorable loans doesn’t change the fact that housing costs in general have become unsustainable for average Americans. The old rule of thumb was that households shouldn’t spend more than 30% of their income on housing rent or mortgage payments. Any more than that qualifies as suffering a cost burden. And yet, 38 million+ residents pay more than 30%. In fact, over a quarter of that number are stuck paying over 50% on housing alone.  

It’s clear that the nation’s nesidents need solutions to reduce the rest of their living costs. Without much government intervention on the rising housing cost burden, they’re looking for other solutions to minimize their monthly spending and offset rent/mortgage expenses. 

Solar has become the answer for many homeowners trying to make living more affordable. With solar installations capable of slashing or entirely eliminating energy bills, homeowners stand to reduce their cost of living by hundreds of dollars per month. 

Contractors can attract more solar installation leads by speaking directly to this need. With marketing campaigns focused on cost of living reduction enabled by solar installations, customers will be able to see solar as a savings tool instead of yet another expense. 

If you’re looking for a direct way to connect with solar leads, Grid Freedom can help. Our team hand picks leads who have been personally verified as interested and capable solar buyers.

Find Solar Installation Leads at www.Gridfreedom.com