These days, it’s hard to find homeowners that wouldn’t like to go solar. Recent research has found that a majority of households (67%) want to adopt. This widespread interest can be attributed to increasingly high costs of living, strained in large part by exorbitant energy bills.
Given the popular desire, one would expect contractors to have an easy time converting residential solar leads. But as all contractors know, this just isn’t the case.
Getting a homeowner to become a paying customer requires more than serious interest, it also requires that they have the clear financial ability. With the economic pressures facing most Americans right now, fewer and fewer homeowners are in a position to afford large investments.
Upfront Costs are the Biggest Barrier
According to a survey performed by Rocket Homes, nearly 75% of homeowners report that the upfront costs of solar are what keep them from buying. Further supporting that sentiment is the fact that over 43% of respondents say the costs of going solar are too high to justify the benefits.
Clearly, the actual cost of going solar is the greatest challenge contractors face in converting leads. So how can you make sure that your business properly addresses this problem?
Helping Homeowners Afford Solar
If you want to make a convincing pitch, your services will have to go beyond mere permitting and installation. Your company will need to act as a partner in funding as well. Homeowners who feel confident that your company will be able to help them obtain enough financial resources will be far more likely to take the plunge.
Tax Incentives
Informing customers about federal and state tax incentives is the first step to improving affordability. Make sure that you have up-to-date information printed about the Solar ITC and any applicable credits in your state. The Department of Energy provides a handy factsheet: the Homeowner’s Guide to the Federal Tax Credit for Solar Photovoltaics.
Customers should be given clear instructions on how to file for these benefits when the time comes to file their taxes. Keep in mind that this is a complicated topic that can be hard for many people to understand on the first go. Your sales reps may need to put extra effort into breaking down how these tax incentives work.
Acquiring Financing
Helping homeowners find favorable solar loans is critical because it can help bridge the gap left over after tax deductions are factored in. And unlike tax credits, loans can actually alleviate the pressure of coming up with the upfront costs.
You’ll want to establish firm ties with local banks that provide solar/home improvement financing, as well as other institutions. We’ve compiled a list of the best financing options to show your residential solar leads. This list includes Lending Club, SunTrust Bank, and Mosaic. The latter is an especially appealing option for those worried about upfront costs, as their Power customers Switch ZERO loan allows customers to skip payments for the whole first year.
Get Help Finding Conversion Ready Leads
While employing the strategies above will certainly help you succeed in converting more solar buyers, the most success lies in working with leads who have already been screened for their readiness to buy.
Here at Grid Freedom, we specialize in providing contractors like you with leads that have already been put through an intensive vetting process. After being generated via techniques that attract only those with real interest, we talk to the leads ourselves, using live phone discussions to assess their suitability as solar customers. Only those who are truly qualified are then scheduled for their first appointment, which is when your sales reps can be dispatched to make their offer.
Our leads are 100% exclusive and come with no strings attached. You’ll never be subject to exploitative fine print terms or binding contracts.
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