Future of Solar Panels is Bright

Toronto Sun September 3, 2010

Do-it-Youself Solar Panel

Nine in ten Canadian homeowners are aware that using green energy reduces a household’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.”

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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.

To help Canadians understand renewable energy, TD is offering Going Green: A homeowner’s guide to solar energy. For more information or to obtain a copy, visit www.td.com.