{"id":5972,"date":"2022-03-08T10:56:33","date_gmt":"2022-03-08T10:56:33","guid":{"rendered":"https:\/\/www.portal.solar.com\/learn\/the-influence-of-women-in-the-solar-industry\/"},"modified":"2022-11-11T00:30:01","modified_gmt":"2022-11-11T00:30:01","slug":"the-influence-of-women-in-the-solar-industry","status":"publish","type":"post","link":"https:\/\/www.solar.com\/learn\/the-influence-of-women-in-the-solar-industry\/","title":{"rendered":"The Influence of Women in the Solar Industry"},"content":{"rendered":"

It\u2019s International Women\u2019s Day! Today we recognize and celebrate women all around the world. As a member of Solar.com\u2019s female population, it\u2019s necessary for me to highlight an important movement we\u2019ve all observed both inside and out of the solar industry\u2026.the buying power and influence of women.<\/span><\/p>\n

Not only do women rule the economy, but they are also the group responsible for the majority of solar installations in the United States. In 90% of American homes, women are involved in or make the decision to buy solar panels. Women are known as the Chief Purchasing Officer in their households. <\/span><\/p>\n

The phrase, coined by leading women\u2019s marketing expert <\/span>Marti Bartletta<\/span><\/a>, refers to the fact that women in the United States have immense influence when it comes to buying and making decisions involving money.<\/span><\/p>\n

Women\u2019s Consumer Power<\/strong><\/h2>\n

Though women around the world are still fighting for equal access and opportunities in education and the workforce, we have made notable traction over the last few decades. As women continue to have increased access to education, the number of women participating in and making up the workforce has risen. In turn, the number of women-owned businesses has increased, and women are earning more than in the past.<\/span><\/p>\n

Globally, women are earning <\/span>$13 trillion<\/strong><\/a> annually, which is expected to rise to <\/span>$18 trillion<\/strong> within the next five years. As of now,<\/span> 60%<\/strong> of personal wealth in the U.S. is held by women. According to Harvard Business Review, not only are women earning more money, but their income is rising at a faster rate per year compared to men\u2019s.<\/span><\/p>\n

Over 1.3 million women in the U.S. earn over $100,000 annually. Women own <\/span>40%<\/strong> of private businesses in America. Women now hold <\/span>51%<\/strong><\/a> of the stock market. It is estimated that women will control <\/span>two-thirds<\/strong> of consumer wealth in the U.S. in the next decade.<\/span><\/p>\n

Women globally control <\/span>$20 trillion<\/strong><\/a> every year in consumer spending. That number is expected to rise to about <\/span>$28 trillion<\/strong> within the next \"Internationalfive years. \u00a0In the United States alone, it is estimated that women\u2019s contributions range from <\/span>$5 to $15 trillion<\/strong><\/a> in spending and account for <\/span>85% <\/strong>of all consumer purchasing.<\/span><\/p>\n

Women\u2019s Influence in the home<\/strong><\/h2>\n

When it comes to the home, studies show that women control ~ 92% of decision making. Women influence or introduce <\/span>80%<\/span><\/a> of home improvement projects, and 75% of women identify as the primary household shopper. <\/span><\/p>\n

Over <\/span>half<\/span><\/a> of the products mass marketed towards men are bought by women (such as technology and electronics.) 68% of vehicle purchase decisions are made by women. \u00a0<\/span><\/p>\n

Data shows women are the primary decision makers when it comes to buying <\/span>for<\/strong> the home, but they also call the shots when purchasing a new home. Women influence or make <\/span>91%<\/strong><\/a> of new home buying decisions.<\/span><\/p>\n

As well, more single women buy homes than single men. Single women make up <\/span>17%<\/span><\/a> of the current housing market.<\/span><\/p>\n

Women and Sustainability<\/strong><\/h2>\n

Women have long pioneered the fight for clean water, clean air, and healthy food in their communities. It\u2019s no surprise that women have been found to be more <\/span>eco- friendly<\/span><\/a> when shopping for products, whether it be their food, household cleaners, or renewable energy. Women are also prone to drive <\/span>recycling habits<\/span><\/a> in the house and respond more strongly to an eco-friendly advertisement.<\/span><\/p>\n

When making a decision on solar power, women are more likely to consider the environmental benefits of clean energy as well as financial sustainability it will provide their household.<\/span><\/p>\n

Women make up more than a substantial portion of solar sales, due to their influence on decisions made in the home, as well as their power in spending. By not marketing effectively to women, the solar industry is missing a critical opportunity to reach its target audience of potential buyers. As women continue to shatter glass ceilings everywhere, the solar industry must continue to find new ways to engage women if they want to achieve continual profits and success.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s International Women\u2019s Day! Today we recognize and celebrate women all around the world. As a member of Solar.com\u2019s female population, it\u2019s necessary for me to highlight an important movement…<\/p>\n","protected":false},"author":33,"featured_media":6146,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":""},"categories":[73],"tags":[],"yoast_head":"\nThe Influence of Women in the Solar Industry | Solar.com<\/title>\n<meta name=\"description\" content=\"Today we recognize and celebrate women all around the world. 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