SolarCity's Market Share Jumps to 32% in US Residential PV Market, According to GTM Research

SolarCity installed nearly a third of all U.S. residential PV in the third quarter of 2013, installing almost four times as much as its closest competitor, Vivint Solar -- according to GTM Research's US PV Leaderboard, released today. The leaders in Q3 residential solar installs in the United States: 1.) SolarCity 2.) Vivint 3.)…SolarCity installed nearly a third of all U.S. residential PV in the third quarter of 2013, installing almost four times as much as its closest competitor, Vivint Solar -- according to GTM Research's US PV Leaderboard, released today. The leaders in Q3 residential solar installs in the United States: 1.) SolarCity 2.) Vivint 3.) Verengo 4.) REC Solar 5.) Real Goods Solar With a newfound ability to raise public capital and a mandate to continue its rapid expansion, SolarCity remained aggressive throughout 2013. "In addition to a steadily growing market share, the company made a bevvy 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," said Shayle Kann, Senior Vice President, GTM Research. "SolarCity's 2014 guidance suggests another rapid year of growth, barring bottlenecks in component costs, project finance or regulation." FIGURE: US Solar PV Installation Market Share (http://goo.gl/icXfyA) SolarCity's diverse sales strategies have played a major role in the company's ability to capture such a large share of the residential market. Solar analyst Nicole Litvak cited its key partnership with companies like Home Depot, Honda, and Viridian Energy to tap new sources of customers. See full press release