SolarCity Installs More than One-Third of Residential Solar in 2014
GTM Research and Solar Electric Industries Association (SEIA) report that 1.2 GW of residential solar was installed in the U.S. market in 2014. SolarCity was the market leader, installing 34% of all new capacity.
- 2014 was the first year annual residential solar installations exceeded 1 GW
- The top-five firms accounted for 54% of the residential solar market (see graph below)
- The two leading firms—SolarCity and Vivint Solar—both finance and install all systems
Source: GTMResearch U.S. PV Leaderboard, Q1 2015
Third-party financing models have supported the strong growth of the residential solar market. These business models work well in markets with volumetric pricing for retail electricity (e.g., specific price per kWh). In this environment, customers often receive monthly savings on their electricity bills with no capital expenditures.
Greentech Media: Here Are the Top 5 Residential Solar Installers of 2014
This report is part of the Clean Tech & Sustainability Minute series. To view all featured Minutes, please click here.