Solar market research

U.S. Residential Solar Financing 2014-2018

2013 was both a year of tremendous growth and the start of an important transition for the US residential solar market. Year-over-year growth in the residential sector (60%) outpaced the overall U.S. market (41%) for the first time, driven by an increase in the availability of third-party financing and the rapid expansion of established market leaders.

This 35-page update to our 2013 report explores key trends in the residential solar market, including:

  • Changes to the competitive landscape, primarily due to mergers and acquisitions, new business models, and market entrants.
  • The resurgence of direct ownership as a result of lower system costs, changing consumer preferences, and broader financing options offered by the industry’s leading players.
  • A combination of more investors entering the market and the introduction of new, innovative financing vehicles that have already helped lower the cost of capital and will continue to do so.

The report provides a comprehensive update on the vendor landscape as well as innovation in both consumer finance and project finance. In addition, the report provides an outlook on the total addressable U.S. residential market, the share of third-party ownership versus direct ownership, and the market size by ownership type with forecasts to 2018.

FIGURE: National Share of Third-Party vs. Customer-Owned Residential Solar

Source: GTM Research

Companies mentioned include:

Admirals Bank | AEE Solar | Astrum Solar | Bank of America | Capital One | Citi | Clean Power Finance | Credit Suisse | Energy Capital Partners | Gen110 | Goldman Sachs | Google | Hannon Armstrong | Honda | Integrys Energy Group | JPMorgan Chase | Kilowatt Financial | Morgan Stanley | Mosaic | NRG Energy | OneRoof Energy | Paramount Solar | PG&E | Rabobank Group | REC Solar | Renewable Funding | RGS Energy | Roof Diagnostics Solar | SnapNrack | Solar Universe | SolarCity | Soligent | Solmetric | Sunetric | Sungage Financial | Sungevity | Sunnova | SunPower | SunRun | SunWize | Syndicated Solar | U.S. Bancorp | Verengo Solar | Vivint Solar | Zep Solar

Download the report's brochure for a complete Table of Contents and List of Figures as well as more in-depth information on the report's analysis.

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Report Author


Nicole Litvak is a Solar Analyst at GTM Research with a focus on the downstream US solar market. In addition to tracking the competitive landscape of installers, financiers, and technology providers in the residential and commercial market segments, Nicole serves as editor of PVNews, the solar industry's longest running market research periodical. Nicole has prior internship experience in corporate sustainability, solar water heating, and business development. She graduated from Brandeis University magna cum laude, Phi Beta Kappa with majors in Economics and Psychology. 

Follow Nicole Litvak on Twitter@nicolelitvak

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