Connect with us

Hi, what are you looking for?

CleanTechnica

Clean Power

SolarCity, Vivint Solar Top US Solar Residential Installers In Q1 2014

SolarCity and Vivint Solar were the top US 2014 Q1 solar residential installers, according to a recent report. GTM Research’s most recent survey of leading solar PV residential installations found some other interesting results as well.

US PV Installer Market GTM

Image Credit: US PV Installer Market via GreenTech Media

SolarCity and Vivint Solar continued their domination of the market, totaling 38%. SolarCity had 29%, beating out its 2013 overall share of 27%. However, it was off the mark from its Q3 2013 results of 33%. Vivint had a 9% share in 2014 Q1.

Completing the top five were: Sungevity, Verengo, and Solar Universe.

The most compelling point from this survey was the ongoing consolidation within the market. The top ten installers control more than half of the residential market at 51.8%. Meanwhile, in 2010, the top ten companies only performed 29.7% of US residential installations. That’s an increase of 22.1% in four years. You can see in the chart above that the top five installers also rose to a record high share of the market.

GTM Research solar analyst Nicole Litvak said the consolidation has been “primarily due to the leading installers growing organically,” despite lots of acquisitions during the year.

“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,” Rivak said.

Within the past twelve months, the solar PV residential market has advanced 38% on a year-over-year basis .

Litvak also said that Sungevity, Solar Universe, and NRG Home Solar (outside of the big two) saw their year-over-year growth climb considerably.

It’s been a positive run for the US home solar installation market. Last month, we reported that residential installation capacity outpaced commercial installation capacity for the first time in Q1 2014, 232 MW to 225 MW. GTM forecasts more than 1 GW of residential forecasts this year, thanks to more financing options.

Add the recent purchase of solar panel manufacturer Silevo by SolarCity and the home installation market will continue to see ongoing changes and consolidation.

Three things are for certain: change, consolidation, and innovation will be themes of the day in the solar PV residential market.

 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
Written By

is expected to complete the Professional Development Certificate in Renewable Energy from the University of Toronto by December 2017. Adam recently completed his Social Media Certificate from Algonquin College Continuing & Online Learning. Adam also graduated from the University of Winnipeg with a three-year B.A. combined major in Economics and Rhetoric, Writing & Communications in 2011. Adam owns a part-time tax preparation business. He also recently started up Salay Consulting and Social Media services, a part-time business which provides cleantech writing, analysis, and social media services. His eventual goal is to be a cleantech policy analyst. You can follow him on Twitter @adamjohnstonwpg or check out his business www.salayconsultiing.com.

Comments

You May Also Like

Clean Power

We recently noted that cleantech media giant Greentech Media is closing down shop. It’s a big loss to the industry, and thus to the...

Clean Power

Greentech Media, which alongside CleanTechnica has been seen as one of the top cleantech sites globally for the last decade plus, is stopping publishing...

Clean Power

The United States' second-largest residential solar provider, Vivint Solar, announced this week that it has received commitments for an additional $100 million of tax...

Clean Power

Cleantech darling Tesla has fallen to third place in the Wood Mackenzie Power & Renewables ranking of US residential solar installers, with Sunrun securing...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.