Dive Brief:
- SolarCity significantly increased its market share of the residential PV market in Q2, according to new findings from GTM Research. The company increased its market share from 28% to a record 36% in the second quarter.
- Vivint Solar saw a fast rise in its market share as well, nearly doubling to 15%. The two companies accounted for more than half of home solar installations in the United States in the quarter.
- The residential solar market is expanding and reached 247 MW in the second quarter.
Dive Insight:
New research out by GTM Research illustrates the incredible consolidation in the home installation market for solar systems.
PV Magazine quoted GTM Research Solar Analyst Nicole Litvak, who said Vivint Solar and SolarCity are rapidly increasing their impact on the market. “Once you already have that kind of market share to being with, it's that much easier to expand through referrals,” Litvak said. “SolarCity is in about a dozen states. Any state where it is legal to have a PPA or a lease, they're there.”
Some of Vivint's success comes from its door-to-door strategy, the report noted, allowing it to focus on very specific areas and neighborhoods.
The research also warns that so much consolidation could have consequences on technical innovation. SolarCity and Vivint are sourcing their inverters and solar panels from a select group of suppliers, PV Magazine noted.
