The U.S. residential PV market is one of the most consistent solar markets in the world. It has seen quarter-over-quarter growth in fifteen of the last seventeen quarters and is on pace to exceed 1 gigawatt of annual growth for the first time ever.
In its Q2 2014 PV Leaderboard, released last week, GTM Research identifies the leading inverter suppliers in the attractive U.S. residential PV market.
Enphase led the U.S. residential PV market with a 37 percent market share through the first half of 2014, almost double the 19 percent share it held in 2012. Given that microinverters and DC optimizers were used in half of all residential installations in 2013, this should not come as much of a surprise, as Enphase has historically led the U.S. residential microinverter market.
Nicole Litvak, solar analyst at GTM Research, points out that a third of Enphase's market share can be attributed to its exclusive supply relationship with No. 2 installer Vivint Solar.
ABB/Power-One has seen steady growth in the residential market, topping out at a 29 percent market share in the second quarter of 2014.
SolarEdge has made significant strides in the past two years, jumping from 1.7 percent in 2012 to 13.2 percent in 2013, and it held a 19 percent market share through the first six months of the year.FIGURE: Leading U.S. Residential Inverter Suppliers, 1H 2014
When some companies make gains in market share, others must experience losses. Notable companies that lost market share include SMA and Fronius.
SMA, once a leader in the space, has seen its U.S. residential market share fall from 40 percent in 2012 to 7 percent in the first half of 2014 as SolarCity has shifted much of its business away from SMA to ABB/Power-One and SolarEdge. However, the company has gained market share in the commercial segment. Through the first half of 2014, SMA held 28 percent of the U.S. commercial market, doubling the 14 percent market share it held in 2013.
Austria-based Fronius has lost market share in both U.S. distributed generation segments, falling from 15 percent in 2012 to a current 5 percent in the residential segment, and from 2.4 percent to 1.1 percent of the commercial segment during the same time period.
According to the most recent U.S. Solar Market Insight report, the residential PV market accounted for 20 percent of all U.S. PV installations through the first half of 2014.