The top ten residential PV installers in the US have increased their market share during the second quarter of the year, according to new data from GTM Research.
Maturing sales strategies and momentum from referrals from existing customers have helped the largest firms expand, GTM’s latest US PV Leaderboard shows.
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“Most of the growth in the residential market can be attributed to the top installers, which have not only effective sales strategies but also huge referral potential from a large base of existing customers,” said Nicole Litvak, solar analyst with GTM.
Although consolidation in the market has been a factor, Litvak states that most of the big firms have been growing organically, rather than purely through acquisition and mergers.
The top two firms, SolarCity and Vivint Solar, accounted for 38% of the market with the entire top ten taking more than a 50% share.
GTM Research has predicted that with increasing financing options, including direct ownership offering an alternative to leasing schemes, the residential market is expected to top 1GW in the US this year.