Energy Security Top of Mind for Homeowners, Study Reveals

Sunrun Inc., a leading provider of residential solar, battery storage, and energy services, has released a study that found COVID-19 has increased energy consumption for the majority of homeowners, causing unique challenges in the event of a power outage.

The increased reliance on the home as a place to work and do schooling has led to a surge in power needs, with 62% of homeowners agreeing the coronavirus has increased demand for electricity. The study shows that, due to the pandemic, 57% of homeowners say they want to make home improvements, including nearly 40% who have a growing interest in backup power sources. Already in 2020, one in three Americans surveyed have experienced a blackout or expect to in the near future.

“Homeowners across the country, but especially in California, are worried about how power outages are going to impact their ability to work remotely and help their kids with school,” said Lynn Jurich, CEO of Sunrun. “People need more reliable, affordable energy solutions like home solar paired with rechargeable batteries to make their home a safe haven.”

Here are some key findings from the national survey of American homeowners:

• A majority of American homeowners (56%) say COVID-19 has increased their home power use.
• Nearly half (47%) of homeowners say their monthly power bill has increased this summer compared to last. For one in six, it’s increased by $40 or more.
• Of homeowners who experienced power outages this summer, one in four (25%) people experienced outages lasting a day or longer.
• Of homeowners who’ve experienced a blackout/brownout, 29% say that power outages have significantly affected their ability to do remote work or schooling this year.
• As expected, power outages are disproportionately affecting homeowners of prime working age, with 39% of homeowners 24 to 39 years old and 37% of those 40 to 55 years old saying their ability to do remote work or schooling has been significantly or very significantly impacted (compared to just 3% of homeowners 56 to 74 years old).
• For homeowners who experienced power outages this summer, 47% say they felt only a little prepared or not at all prepared for the power outage. Forty-five percent of those homeowners say backup power like a battery or generator would have made them feel more prepared.
• Thirty-eight percent of homeowners who have been working from home during the pandemic say that experiencing or expecting to experience power outages has made them want to install backup power like rechargeable home batteries.
• Homeowners 24 to 39 years old in particular are more interested in backup power sources now (61%) than previously. In fact, they are almost twice as likely as homeowners 56 to 74 years old (31%) to want battery storage.

Sunrun conducted this research using an online survey prepared by Method Research and distributed by Dynata to 1000 home-owning adults in the United States—500 homeowners from California and an additional 500 from a spread across the remainder of the country. Data was collected from Aug. 28 to Sept. 2.

SOURCE: The Weekly Propane Newsletter, October 29, 2020. Weekly Propane Newsletter subscribers receive all the latest posted and spot prices from major terminals and refineries around the U.S. delivered to inboxes every week. Receive a center spread of posted prices with hundreds of postings updated each week, along with market analysis, insightful commentary, and much more not found elsewhere.