LONDON--(BUSINESS WIRE)--Technavio has announced the top ten leading vendors in their recent residential solar market in the US report. The vendors are identified, taking into account their revenue, technology, geographical presence, and end-users.
Competitive vendor landscape
The residential solar market in the US is diversified with the presence of international and regional vendors. The competitive environment in the market is likely to intensify during the forecast period with an increase in product extensions, technological innovations, and strategic M&A. “Prominent vendors in the market frequently pursue M&A and sales and distribution tie-ups in emerging markets to expand their market presence and increase their market share. These vendors believe that the residential market will be the fastest growing market considering its huge untapped potential,” says Anju Ajaykumar, a lead analyst at Technavio for research on power.
Until 2014, only 0.6% of the 82 million single family rooftops was deployed with Solar PV. Vivant Solar believes that by 2017, 37.5 million of the 82 million single family rooftop can be installed. Top vendors such as Solar City and Vivint Solar have retained their market status since 2013.
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Top ten residential solar market vendors in the US
NRG Energy was founded in 1989 and is headquartered in Princeton, New Jersey, US. This is an integrated power company. NRG Energy generates power through a diversified portfolio of sources, including coal, natural gas, oil, nuclear, wind and solar. As of December 2015, NRG Energy had a total net generation capacity of 49,287 MW. The company trades energy, capacity, and related products; provides transportation services; transacts in and trades fuel; and sells energy, services and related products to commercial, residential, and institutional electricity customers.
SolarCity is headquartered in San Mateo, California, US. The company is mainly involved in the design, manufacture, installation, maintenance and distribution of solar energy systems for residential, commercial, and government offices in the US.
The company provides solar lease, solar purchase agreements, MyPower loan agreement, grid control energy storage systems, and Zep Solar mounting systems.
Sungevity is headquartered in Oakland, California, US. The company is involved in the selling and installation of solar panels and solar power systems.
Sungevity provides solar panels, solar power systems, application software to monitor solar consumption of consumers (iQuote). The company has entered into strategic partnership with Viridian Energy. It offers iQuote, an online quote generation service used to monitor solar consumption of the users.
Sunrun is headquartered in San Francisco, California, US. This is a residential solar company that engages in the designing, development, installation, and maintenance of residential solar energy systems. The company has over 100,000 customers across the country. Sunrun sells directly to consumers over the Web and retail stores, phone, and through a network of certified partners. Sunrun offers various plans and services, such as Pay As You Go and Purchase Your System.
Verengo is headquartered in Torrance, California, the US. The company installs solar PV systems that enable homeowners to save money on their electricity bills. Verengo also markets solar panels and semiconductor-based micro inverter systems. The company offers a range of other energy-saving products to help users conserve the energy generated from the solar systems. The company provides solar solutions to homeowners in California, New Jersey, and New York.
Vivint Solar is headquartered in Utah. The company offers solar energy for residential, commercial, and industrial consumers in the US region. The company operates in two reportable segments, namely residential and C&I.
Vivint Solar installs solar energy systems via long-term customer contracts and power purchase agreements. Also, it provides PV installation devices and software products. In FY2014, the company installed 155 megawatts of solar panels for over 22,000 customers.
First Solar is a vertically integrated solar company with a strong presence in the US residential market. It delivers LCOE at a cost that is competitive with fossil fuels.
Borg Solar Power systems are known for developing and handling quality solar panel systems. These solar panels systems are affordable and efficient.
Jinko Solar offers its product and services across commercial, residential and international utilities. It has its presence in China, the US, Japan, Germany, the UK, Chile, South Africa, India, Mexico, Brazil, the UAE, Italy, Spain, France, and Belgium.
ReneSola is a leading international manufacturer and supplier of green energy products. It leverages its global presence with offices and warehouses in more than 16 countries and expansive production facilities and sales network. The company offers quality clean energy services and products for installers and EPC contractors around the globe.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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