We know solar can be a great investment for homeowners looking to reduce their short-term and long-term energy costs. However, there’s a lot of competition out there for a customer’s investment dollars, including home improvements, stocks, cryptocurrencies, and so on.
How can you help homeowners see that solar is an investment with returns that rival other investments? That’s the subject of the final homeowner concern of our Solar Sales Objections Handbook.
The Objection: I’d Rather Use the Money for Other Investments
“Solar is an okay investment, but I would rather use that money for my other investments right now.”
Replace an Existing Bill with No Upfront Costs
So how can solar help a customer instantly start saving more money for other investments?
In the right circumstances, a qualified customer can finance a solar energy system to reduce monthly utility payments with no upfront costs. With a zero down, no money upfront program to replace their electricity bill with a financed solar system, customers can cut their monthly energy expenses, freeing up money for investments.
Knowing programs like this are available, Lily Valdez, Co-Founder of Women United by Solar is quick to dismiss the idea that solar and and other investments will not work side by side.
“To me, this isn’t a real objection. It’s a smokescreen for another objection behind it: They just think solar is expensive.”
Tools like Sales Mode can help you present these savings to homeowners clearly and concisely.
More Money for Other Investments
To begin, it’s critical to get potential customers to understand that existing investments and going solar are not mutually exclusive.
As Jake Hess, Founder of The Solar Academy put it:
“Nobody wants to keep you away from the things that you love. You probably love investing, it’s probably giving you lots of money, so keep doing that. But right now, a portion of the money that you could be investing is going to your utility company.”
James Ramos, Founder of Solar YOUniversity, uses this objection as an opportunity to let the homeowner know you understand investment strategy.
“With solar, you can diversify your portfolio without having to make any sacrifices. Why not do both?”
To move the conversation forward, Lily uses empathy (remember?) to understand the customer’s needs, and build a relationship.
“I’ll say: ‘I’m interested in investing, myself. What are you currently holding?’ Then I’ll get to know them and say that I’m also saving $80 per month with the solar on my house.”
Guaranteed ROI and Utility Bill Price Protection
Finally, one last way to compete with other investments is to talk about how solar energy can be a safe investment with virtually guaranteed returns. Positioning solar as the safe investment to complement other riskier investments can appeal to someone who understands investments and cares about a balanced portfolio.
“The great thing about solar is that it is stable. You’re going to know exactly what you’re paying for. And while your other investments can go up and down, solar can help put your money to work.”
In a scenario where a customer would sell their investments to pay for a cash installation, Solar Joe further emphasizes the stability of solar.
“If it’s about cash that needs to be spent one way or another, solar is better as a guaranteed ROI as opposed to other investments, which are more of a gamble. ”
Once you have a homeowner thinking about their electricity bills, you’ve got an argument you’re used to facing down: Over time, the costs of solar remain fixed and energy produced by the system protect a property owner from increasing electricity rates.
To tie it all together, Lily summarized:
“All we’re doing is price protecting you right now so that you can keep more money in your pocket to do whatever you’d like. Crypto, real estate, buy a new car, whatever you want to do, solar can help you get there.”
Homeowners have many reasons to love solar just as much, if not more, than their other investments. Without sacrificing any of the funds allocated for other interests, solar loans can stabilize electricity costs with no money down.
If it’s a “one or other” scenario, you can sell solar as a much safer alternative to crypto, stocks, and other volatile investments. With electricity bills always going up, solar has a guaranteed ROI — savings will only increase over time.
To get all the details on how to deal with this objection, download watch The Solar Sales Objections Handbook. Then come back and explore the other posts in this series:
- We Need Another Quote
- We’re Retired and On a Budget
- We’re Concerned About Damage to the Roof
- We’re Planning to Move Soon
- We’re Using the Money on Other Investments
Featured image by Kostiantyn Li.