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Key influences on residential photovoltaic solar panel adoption in the United States
(www.tandfonline.com)
Our research includes linear regression, principal component regression, and spatial error models to provide empirical evidence for the relationship between the adoption rates and socio-economic, geographical, and technical factors while identifying characteristics of adopter groups. The results suggest that the relative advantage factors – electricity prices and solar irradiation – play the most significant role across all regions and market segmentations. Statewide policy indicators are the second most significant factor, followed by socio-economic variables on employment status, remote working, car ownership, and property value. Our results indicate that homeowners do not only differ in their circumstances but also in their motivations.