Residential Solar Lease is gaining traction and market share

For the fourth consecutive quarter, the U.S. residential solar market grew incrementally, installing 98.2 megawatts. California, Arizona, and New Jersey led residential installations nationally, with smaller-market states of Hawaii, Massachusetts, and Maryland demonstrating strong quarter-over-quarter growth.

In addition, the residential segment continues to be highlighted by consumer acceptance of third-party solar ownership models. The major state markets in California, Arizona, and Colorado all saw third-party residential solar companies like American Solar Direct account for greater than 70 percent of total Q2 2012 installations. U.S. Solar Market Insight: 2nd Quarter 2012 finds that in the California market, this quarter marks the first time that the average installed price of a third-party-owned system was lower than that of a system purchased outright: $5.64 per watt for third-party versus $5.84 per watt for directly-owned solar systems.

“We’re starting to see innovative PV business models take a substantial hold in the U.S. residential market,” said Shayle Kann, Vice President of Research at GTM Research. “The success of third-party residential solar providers has attracted more than $600 million in new investments in recent months. This influx of cash into the residential space signifies the growing acceptance of solar leases and power purchase agreements as a secure investment for project investors. We expect that third-party installations will claim even more market share in the coming quarters.”

Residential Solar Lease is gaining traction and market share

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