SolarCity achieves a 26% share of the U.S. residential solar PV market

The top ten PV installers together represented over half of the U.S. residential PV market in 2013
The top ten PV installers together represented over half of the U.S. residential PV market in 2013

SolarCity (San Mateo, California, U.S.) has reached a 26% share in the U.S. residential solar photovoltaic (PV) market, according to new data released by GTM Research (Boston, Massachusetts, U.S.), through its Q1 2014 PV Leaderboard.

This is more than three times the share of SolarCity's nearest competitor, Vivint Solar Inc. (Provo, Utah, U.S.), and a substantial increase over the company's 2012 market share of 16%.

“In addition to a steadily growing market share, (SolarCity) made a bevy of moves over the course of the year, ranging from the first securitized distributed solar deal to the acquisitions of Paramount Solar and Zep Solar,” notes GTM Research Senior VP Shayle Kann.

“SolarCity's 2014 guidance suggests another rapid year of growth, barring bottlenecks in component costs, project finance or regulation.”


Top 10 installers more than half of total market

Verengo Solar (Torrance, California, U.S.) has fallen from the second-largest installer in 2012 to the third-largest in 2013, with a 5% market share. The top 10 installers make up more than half of the U.S. residential market.

As 792 MW of residential PV was installed in the United States in 2013, this means that SolarCity installed around 206 MW during the year. The residential market sector is much smaller than the utility-scale PV market in the United States, and made up only 16% of the nation's newly installed capacity in 2013.


Third-party space contested

SolarCity and Vivint are both vertically integrated residential solar PV companies, which offer both third-party owned financing arrangements and installation. As the data released by GTM covers installation, it does not show the market share of SolarCity's largest competitor in the third-party solar space, Sunrun (San Francisco, California, U.S.).

Sunrun works with a variety of installers, including Trinity Solar (Wall, New Jersey, U.S.) and Roof Diagnostics (Wall, New Jersey, U.S.), which was recently acquired by NRG Energy Inc. (Princeton, New Jersey, U.S.).

SunEdison Inc. (St. Peters, Missouri, U.S.) remains the largest installer in the U.S. commercial space, which totalled 1.1 GW in 2013.


2014-04-01 | Courtesy: GTM Research | © Heindl Server GmbH

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