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SolarCity misses Q4 install targets; expects 40% install growth in 2016

SolarCity reported total fourth quarter installations of 272MW, compared to 280MW to 300MW, issued in its November, 2015 third quarter earnings call, a 54% year-over-year increase.

SolarCity, the largest residential solar PV installer may have had record installations in the fourth quarter of 2015, but missed lowered install guidance. 

SolarCity reported total fourth quarter installations of 272MW, compared to 280MW to 300MW, issued in its November, 2015 third quarter earnings call, a 54% year-over-year increase. 

The install miss was said to be due to commercial project delays (15MW) and to its exit from the Nevada market, which contributed more than 20MW of installations on a quarterly basis. 

SolarCity reported full year 2015 installations of 870MW, up 73% from 503MW in 2014. The company noted that using GTM Research/SEIA’s most recent estimate for 2015 US solar installations, the company accounted for 35% of US residential solar, 28% of US distributed solar, and 12% of total US solar capacity installed in 2015. 

However, SolarCity guided first quarter installs of 180MW, representing growth of 18% year-over-year, and a 34% decline as compared to Q4 2015.

The company reiterated total 2016 targeted installs of 1.25GW, indicating a growth rate above 40%, compared to 73% in 2015. 

SolarCity misses Q4 install targets; expects 40% install growth in 2016

olarCity guided first quarter installs of 180MW, representing growth of 18% year-over-year, and a 34% decline as compared to Q4 2015.

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