Third-party ownership accounts for 72% of US residential solar installations

Facebook
Twitter
LinkedIn
Reddit
Email

There were 1.2GW of US residential solar installations last year, of which 72% was third-party owned (TPO) through leases and power purchase agreements (PPAs), according to a GTM research study.

The report, ‘US Residential Solar Financing 2015-2020’, found the remaining 28% was directly owned by customers, but mostly through loans.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Financing options, particularly leases, have been a major driver for the residential solar market to grow in 15 of the previous 16 quarters, GTM found. For example, TPO has given consumers across many demographic and socioeconomic categories the ability to afford solar installation when they otherwise would not.

The report found that three companies financed 56% of all U.S. residential solar installations in 2014

  • SolarCity 34%
  • Vivint Solar’s 12%
  • Sunrun’s 10%

Other leading finance providers included SunPower, NRG Home Solar, Sunnova and Clean Power Finance.

GTM also forecast that direct ownership will surpass third-party ownership of the US residential solar market by 2020, accounting for 54% of the forecasted 5.2GW market.

GTM Research senior solar analyst Nicole Litvak said: “The solar loan market has exploded. Every TPO financier has introduced or is planning to introduce a loan, and an entirely separate group of pure-play loan providers has emerged. Many of these new loans are structured such that they offer customers the same year-one savings as a lease or PPA.”

Read Next

Premium
September 11, 2026
The financial difficulties of one of Europe’s best-known downstream solar companies highlight the faultlines running through the continent’s PV and energy storage business.
September 11, 2026
Plans for the US’ “first end-to-end” solar PV critical materials recovery and recycling facility have been announced.
September 11, 2026
This week's PV Chart of the Week profiles the technology breakdown of projected US solar module production capacity.
Premium
September 11, 2026
PV Talk: PERC has the potential to be a “workhorse” in the US cell manufacturing space, Suniva's Matt Card tells PV Tech Premium.
September 11, 2026
Italian power utility Enel has bought two solar PV projects in the US with a combined 625MW of generation capacity.
September 11, 2026
Georgia Power has secured Georgia Public Service Commission (PSC) approval for seven solar PPAs totalling 1,137MW under its CARES programmes.

Upcoming Events

Solar Media Events
October 13, 2026
San Francisco Bay Area, USA
Solar Media Events
November 3, 2026
Málaga, Spain
Solar Media Events
November 24, 2026
Warsaw, Poland
Solar Media Events
February 2, 2027
London, UK