The cost of installing residential solar energy systems remains a key reason that Canadians are not using the sun to reduce their home’s environmental impact, according to a recent study.
A survey by TD Canada Trust found that only 5% of Canadian households are using solar panels to generate electricity at home. While a third of Canadians have considered installing solar energy systems in their homes, 76% of them say the expense is the primary deterrent.
Karen Clarke-Whistler, TD’s chief environmental officer, noted the majority of Canadians are still unaware of the potential long-term savings solar energy can provide a home, as well as the long-term value environmentally friendly features potentially provide.
Previous TD surveys found that more than two-thirds of Canadians were willing to pay more for a home with energy-saving features.
More than half of Western Canadians surveyed said they would be willing to spend 5% to 10% more on a home with sustainable features.