Survey suggests residential solar installation companies alone are likely to take on an additional 340,400 workers over the next 5 years after the passing of the Inflation Reduction Act and that residential solar installations may reach 1 million homes per year by 2027.
August 31, 2022 – A survey of 3,259 solar installation companies conducted by SolarReviews immediately after the passing of the Inflation Reduction Act showed that on average, solar installation companies plan to increase their workforce by 148% over the next 5 years to accommodate an expected increase in demand. If this prediction proves to be correct and there is a corresponding increase in solar installations, then solar installations may reach 1 million homes per year by 2027.
On average, respondents to the survey indicated that they intended to increase their workforce by 148%, and given that approximately 230,000 people are working in the residential solar industry currently, this equates to an additional 340,400 workers.
This increase will take the total number of people employed in the residential solar sector to approximately 570,400, equating to 63% of the number of people employed by the fossil fuel sector, which is approximately 908,400.
Solar jobs are high-quality jobs. They are inherently local, available across the country, spread over many small employers, and offer the opportunity for employees to start their own businesses with little capital. They employ a variety of different types of professionals from engineers and electrical contractors to finance and administration staff.
Summary:
To compile tangible data that showcases the benefits of the IRA passing, SolarReviews sent a survey to 3,259 of our installer partners. According to new data, the IRA will encourage growth in the solar sector, in both projects and hiring.
Key findings include:
95% of installers anticipate their business to grow because of the IRA passing.
Based on the number of workers installers anticipate hiring over the next five years, there could be a 148% increase in solar jobs from installation companies alone.
76% of respondents are the most excited about the enhanced solar tax credit.
Read more about the results here.
About SolarReviews
SolarReviews is America’s leading independent website for reviews and comparisons of solar panel installation companies and residential solar panel brands since 2012. They offer consumer and expert reviews, specifications and warranty details, panel prices, and quote comparison tools that streamline the solar installation process and make it easy for homeowners. For more information, visit www.solarreviews.com.