The residential solar market is not what it used to be. Like the sun they seek to capture, solar shops are facing the heat. Ask any solar installer today and they’ll tell you how they’re being crushed by high-interest rates and regulations like California’s latest net energy metering policy (NEM 3.0).
Fortunately, there’s another path. A new type of contractor has emerged on the scene and is poised to make millions of dollars in a market projected to grow by 150% over the next decade. Who are these new contractors? They are the installers on the front lines of the home electrification market, serving the modern homeowner with a mix of EV charging, energy storage, heat pump, and solar installations for their home.
Electrification is the future. With improving economics, increasing consumer interest in sustainability, and new innovations in residential technology, the home electrification sector is growing fast. And it’s backed by some pretty hefty investment, including up to $369 billion earmarked for energy infrastructure in the Inflation Reduction Act (IRA).
But here’s the kicker: as demand increases, home electrification contractors are in short supply. The US Bureau of Labor Statistics reports that over the next ten years the need for qualified electricians and installers is expected to grow by six percent with the need for 50,000 new jobs. That’s meaningfully higher than the three percent average across all other occupations. If you’re a solar installer frustrated by slowing growth, there’s never been a better time to boost your business. Expand into the home electrification sector or get left behind by competitors making the shift.
Fortunately, there’s another path. A new type of contractor has emerged on the scene and is poised to make millions of dollars in a market projected to grow by 150% over the next decade. Who are these new contractors? They are the installers on the front lines of the home electrification market, serving the modern homeowner with a mix of EV charging, energy storage, heat pump, and solar installations for their home.
Electrification is the future. With improving economics, increasing consumer interest in sustainability, and new innovations in residential technology, the home electrification sector is growing fast. And it’s backed by some pretty hefty investment, including up to $369 billion earmarked for energy infrastructure in the Inflation Reduction Act (IRA).
But here’s the kicker: as demand increases, home electrification contractors are in short supply. The US Bureau of Labor Statistics reports that over the next ten years the need for qualified electricians and installers is expected to grow by six percent with the need for 50,000 new jobs. That’s meaningfully higher than the three percent average across all other occupations. If you’re a solar installer frustrated by slowing growth, there’s never been a better time to boost your business. Expand into the home electrification sector or get left behind by competitors making the shift.
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