How Will 2020's Economic Downturn Affect This Winter's Solar Lead Generation?

How Will 2020's Economic Downturn Affect This Winter's Solar Lead Generation?

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Even without watching the news, solar contractors across America can tell that the economy is in troubled waters. The positive forecasts for 2020 were obliterated by the arrival of the coronavirus. Contractors watched their solar lead generation numbers take a sharp drop once the shelter-in-place orders went out, and it has been tough to make ends meet ever since.

But now that we are nearing the end of the year, is there light at the end of the tunnel? Can contractors expect to see an upturn in leads, or should they prepare for a tough winter? Below, we assess some of the factors that will influence solar lead generation in winter 2020.

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Current Economic Predictions When looking at the data between Q1 and Q2, there was a 23% dip in solar installations. The Solar Energy Industries Association (SEIA) largely attributes this to the effects of the pandemic.

The organization has published that while experts predict 37% total growth for the year, that is 6% lower than the projections made before the virus appeared.

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The November Election We can likely expect very different economic consequences depending on the outcome of the election in November. President Trump has already cancelled any plans for another coronavirus relief package, and most of the benefits offered by the last package expired this summer. This has left many Americans in a precarious financial position.

For solar contractors, this means that even fewer people will be financially stable enough to afford a solar installation this fall and winter. Donald Trump has stated that he may consider renewed relief discussions in the event of his re-election, but it’s unlikely that any such stimulus would be passed in time to have a big enough impact for would-be solar buyers. At best, it may result in a small boost by the very end of the year.

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If Trump were to lose the election, there so far isn’t any indication that his administration would roll out a relief package before he leaves office.

On the other hand, Democratic candidate Joe Biden has been vocal about seeing an urgent need for more financial relief. Americans could expect stimulus benefits to be swiftly passed by a Biden administration, but that would only be able to take place after his inauguration early next year. This likely means a very slow winter for solar contractors, but potentially a much better spring in 2021.

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New Coronavirus Infections With flu season upon us, we are seeing a steep rise in coronavirus cases in many states. Experts are warning that numbers will continue to rise throughout the fall and winter, and hospital capacities will be pushed to or beyond their limits.

The situation can stifle solar lead generation in a few ways: 1. More households will be affected by the virus.

Home improvement projects will be low on the priority list for homeowners battling the illness or dealing with the worry of having a sick family member.

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2. People who have not yet been infected may see this period as one of heightened risk. More homeowners may take stronger precautions, such as postponing any projects that may require others coming to their home.

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Keep Your Business Strong Through a Tough Winter Even with the best outcomes in all of the scenarios described above, the final months of 2020 are going to be difficult for solar contractors.

Those that want to protect their company can secure serious, profitable customers by sourcing their leads from Grid Freedom. With 100% exclusivity and thorough pre-screening, we routinely deliver solid sales opportunities to contractors all over the country.

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Find Money-Making www.Gridfreedom.com

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