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Research Outline
Prepared for Anna V. | Delivered July 31, 2020
US Residential Solar Market
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Goals
The goal is to find information about the US residential solar industry that includes current worth, revenue predictions, percentage of homes with solar, and the market share of key players. The goal is also to find positive consumer trends regarding residential solar energy.
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Early Findings
The US solar industry was worth
$18.7 billion
in 2019.
The residential solar power industry is growing so quickly because installation costs have
dropped by 70%
over the last decade.
T
h
e
impact of COVID-19 job losses and work stoppage is expected to reduce the number of solar installations by
31%
in 2020.
More than
2 million
homes have solar panels in the US.
Some of the
biggest
residential solar companies in the US include Tesla,
V
i
v
i
n
t
Solar, Solar Edge, and NextEra Energy.
Tesla has a solar market share of
4.6%
,
V
i
v
i
n
t
Solar has a market share of
17.5%
, Solar Edge has a market share of
60.5%
, and NextEra Energy has a market share of
10.99%
.
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