SolarCity accounts for a third of US residential PV installations in 2015

The top five five installers accounted for more than half of all residential solar installations between Q1 and Q3 this year. Credit: SolarCity

Renewable energy firm SolarCity was responsible for 34% of residential solar PV installations in the first three quarters of 2015, according to GTM Research’s ‘US PV Leaderboard: Q4 2015’.

The market share of the leading US residential solar installers in this period was:

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

  1. SolarCity 34.1%
  2. Vivint Solar 11.6%
  3. Sunrun 2.6%
  4. NRG Home Solar 2%
  5. Sungevity 1.9%

Combined, these five installers accounted for more than half of all residential solar installations between Q1 and Q3 this year.

GTM noted that this is the third year that the US residential market has seen more than 50% growth. It also claimed this is the first year that residential installations exceeded those in the non-residential market.

GTM noted: “This rapid growth can largely be attributed to the widespread availability and increasing diversity of financing solutions.”

The residential market saw another major boost last week with news emerging of the lengthy extension of the ITC tax credit for solar beyond 2022, with the current 30% level remaining until 2019.

The ITC had been scheduled close at the end of 2016 for residential systems with larger projects dropping from the current 30% level to 10%, but after news of the extension, the share prices of many of the residential installers surged.

The first major growth in the residential market between 2010 and 2014 was primarily the result of third-party financing for leases and PPAs that made solar more affordable to the public, said GTM. However, nowadays the market is seeing a surge in direct ownership and various new players offering different types of loan.

GTM concluded: “The competitive landscape continues to evolve thanks to new market entrants, acquisitions, and constantly changing consumer finance options.”

PV Tech recently spoke to Shayle Kann, Senior vice president, research, GTM about how the ITC extension might affect SolarCity after a recent strategy change.

Kann said: “What they have been doing was changing their strategy to build it around the idea of becoming cashflow positive at the end of 2016, basically in preparation for a 10% ITC world. Now, if there is no 10% ITC world, they can either stick with this strategy outlined recently and continue to grow at a more moderate rate of 40% a year kind of pace, which is still pretty fast, it’s just slow for Solar City. Or they could go back to the original plan and say we don't need to be cashflow positive by the end of next year, and continue to grow at 70-80%.”

Read Next

May 9, 2024
US residential solar and storage company Sunrun has narrowed its net loss for the first quarter of 2024, but its solar capacity additions continued to drop for four quarters in a row.
February 22, 2024
Sunrun has published its 2023 financial results, which include 1.01GW of new solar capacity installed across the company’s operations.
January 30, 2024
Sunrun has published the results of its Peak Power Rewards system that saw residential systems send power to the California grid for 90 days.
November 22, 2023
Solar Module Super League (SMSL) member Trina Solar has signed a memorandum of understanding (MOU) with Australian solar wholesale distributor Solar Juice which will see the latter buy 1GW of Trina Solar modules.
November 8, 2023
US residential solar companies Sunrun, Sunnova and power product supplier Generac have been selected by the US Department of Energy (DOE) to install rooftop solar and battery storage systems for vulnerable households in Puerto Rico.
November 2, 2023
Sunrun has published its financial results for the third quarter of this year, which include the installation of 258.2MW of new solar capacity.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 2, 2024
Athens, Greece
Solar Media Events
July 9, 2024
Sands Expo and Convention Centre, Singapore
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia