Report: SolarCity Corp (SCTY) hits a 32% U.S. market share

Posted Jan 12, 2014

According to Green Tech Media, SolarCity Corp (NASDAQ:SCTY) has installed four times more solar than their nearest competitor last year. SolarCity was able to widen their lead over competitors and increased their U.S. market share to 32% during 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 securitised distributed solar deal to the acquisitions of Paramount Solar and Zep Solar,” stated Shayle Kann SVP of GTM Research.

SolarCity acquired mounting manufacturer company Zep Solar to cut their installation costs. SolarCity also bought Paramount Solar for $120 million. GTM reports that the top 5 resident solar installers in the U.S. were:

1. SolarCity
2. Vivint
3. Verengo
4. REC Solar
5. Real Goods Solar

[Source: PV-Tech]