Solar panel future is bright: survey

- Nine in ten Canadian homeowners are aware that using green energy reduces a householdÂ’s environmental impact, yet only five per cent are generating electricity by installing rooftop solar panels, according to a new survey from TD Canada Trust.

The survey reveals one in three homeowners 33 have considered installing solar panels, however three-quarters 76 of them say expense is the number one deterrent.

“The gap between awareness and action is mainly due to concerns about cost,” says Karen Clarke-Whistler, chief environment officer, TD. “But Canadians have shown that those concerns can be overcome. A decade ago, hybrid vehicles were a novelty, but today there are a growing number on our roads. We believe the future for rooftop solar panels is just as bright.”

According to the report, only 47 of Canadian homeowners surveyed are aware that solar power reduces home energy costs and less than 5 know that in some provinces, solar panels can provide a new revenue stream.

Installing solar panels means reducing the amount of energy required from the electrical grid, which means buying less. In some provinces solar-produced power can be sold to local utility providers, earning money for the energy produced.