US Residential Solar Market

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.

Early Findings

  • The residential solar power industry is growing so quickly because installation costs have dropped by 70% over the last decade.
  • The 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, Vivint Solar, Solar Edge, and NextEra Energy.
  • Tesla has a solar market share of 4.6%, Vivint 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%.

Proposed next steps:

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